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GS Engineering & Construction Signs $3.4 Billion Contract for Busan Redevelopment Project GS Engineering & Construction has secured the construction rights for the Sajik 3 District redevelopment project in Busan's Dongnae District, signing a contract worth 408.2 billion won (approximately $3.4 billion). The company announced on August 7 that it signed a construction contract with the Sajik 3 District Redevelopment Association on August 6, with the contract amount excluding value-added tax. This amount represents 3.28% of GS Engineering & Construction's consolidated revenue of 12.45 trillion won last year. The Sajik 3 District redevelopment project will involve the construction of nine residential buildings, totaling 995 units, with three basement levels and 33 floors, located at 411-1 Sajik-dong. The area is noted for its proximity to educational institutions and a subway station, making it a desirable residential location. GS Engineering & Construction was selected as the contractor for the Sajik 3 District redevelopment in September of last year, with the estimated construction cost at that time being around 408.2 billion won. The recent contract formalizes this agreement. Payment for the construction will be made through a 'sales-based' method, where costs are covered by revenue from general sales. There will be no separate contract or advance payment, and the construction period is set for 42 months from the actual start date, which has yet to be determined. Additionally, GS Engineering & Construction ranked third in the construction capability evaluation announced by the Ministry of Land, Infrastructure and Transport last month for the year 2026. The company noted that the contract amount and construction period may change depending on future project developments and contract conditions.* This article has been translated by AI. 2026-08-07 17:44:00
Korean ants suffer twice as losses become fake spectacle SEOUL, August 07 (AJP) - Forty years of savings. Gone. A leveraged bet on SK hynix. A 78.7 percent loss. Some 2.2 billion won ($1.5 million) wiped out. A brokerage screenshot appeared to prove every painful detail. The post, uploaded to local community platform Danggeun on July 30, claimed an investor had gone bankrupt after pouring four decades of savings into a leveraged exchange-traded fund tied to SK hynix. It was devastating…except that it was also fake. The image was doctored. It had been copied from a real post uploaded a day earlier to an investment community run by Toss Securities. Someone multiplied the purchase, sale and loss amounts by 10 while leaving the 78.7 percent loss rate unchanged. “The numbers looked familiar, so I checked again. Someone had added a zero to the image I posted,” the original investor said after the manipulated version began circulating. The claim also failed to match the ETF’s trading history. The poster said the investment had been made shortly after the product’s launch. But an investor who bought at the listing price of 23,450 won and held until the date of the post would have lost about 60 percent. A 78.7 percent decline would have required the ETF to fall to around 5,000 won, a level it had never reached. The fabricated loss nevertheless spread as Korean retail investors were already nursing heavy losses after a sharp reversal in semiconductor and AI stocks. From FOMO to ‘dishwashing’ During the rally, fear of missing out drew investors into stocks that had already surged. After the reversal, another term returned to Korean investment communities: seolgeoji, or “dishwashing.” The slang refers to late investors left with losses after earlier buyers sell at high prices. The expression became widespread during Korea’s 2020–2021 housing boom, when younger buyers borrowed heavily to buy homes near the top of the market. It has now moved into stocks. A recent online post titled “People in their 20s and 30s got stuck doing the dishes in real estate, and now stocks too” linked the expression to young investors who borrowed to buy shares and suffered losses. Other posts complained that investors who entered because of FOMO had been left “doing the dishes.” Korean retail investors are commonly called “ants,” reflecting their large numbers and relatively small individual holdings. Social media and the herd Research suggests online investment communities can reinforce herd behavior among retail investors. A 2022 study by researchers at Chosun University examined posts on Naver Finance discussion boards and trading data for 971 KOSPI- and KOSDAQ-listed companies between 2018 and 2021. Published in Frontiers in Physics, the study found that higher social-media activity was associated with stronger herding among retail investors. The relationship became more pronounced after the COVID-19 pandemic. A 2025 study by Konkuk University researcher Hohyun Kim, published in Finance Research Letters, also found that investors who used social media for investment information tended to have shorter investment horizons. The effect was stronger among younger investors and those who were more confident in their investment knowledge. Neither study establishes that online posts directly cause investors to buy or sell. But they show how social media can reinforce two forces already familiar in markets: following the crowd and chasing short-term returns. The fake SK hynix screenshot shows another side of the same phenomenon. A real loss of 220.4 million won was already substantial. By adding a zero, someone turned it into a far more dramatic story of bankruptcy and financial ruin. Profits and losses are both widely shared in Korean investment communities. During rallies, screenshots of large gains can fuel FOMO. During selloffs, images of large losses can amplify fear and regret. Financial authorities have also warned that online communities, social media and video platforms can be used for unfair trading, including cases in which investors buy shares before promoting them online and sell after others push up the price. The altered SK hynix screenshot has not been linked to such a scheme. But it illustrates how easily private investment results can be copied, manipulated and recirculated once they become online content. The market loss was real. The extra zero was not. 2026-08-07 17:42:56
Can robots fill Korea's military ranks? SEOUL, August 07 (AJP) - Robots are emerging as a necessity rather than a choice for South Korea, which must defend one of the world's most heavily militarized borders with a rapidly thinning pool of young men. As birthrates collapse and the number of available conscripts shrinks, the question facing militaries such as South Korea's is no longer whether machines will join the ranks, but how much work they can take off human soldiers. For now, that does not mean robotic infantry charging across a battlefield. The more immediate possibility is less dramatic but potentially more useful: humanoid machines taking over repetitive, dangerous and physically demanding jobs aboard ships, inside bases or near frontline positions, freeing increasingly scarce soldiers for tasks that still require human judgment. South Korea offers one of the clearest test cases. Its active-duty military shrank by roughly a fifth between 2019 and 2025 to about 450,000 personnel as the population of military-age men contracted. The Defense Ministry says the number of men eligible for military service fell to 257,000 in 2022 from 332,000 just three years earlier. The demographic arithmetic is now forcing changes to a conscription system that has underpinned South Korean defense for more than seven decades. Able-bodied men remain subject to compulsory service, with Army conscripts generally serving 18 months. But the government is exploring a more selective system combining traditional conscription with longer-term service by technically skilled personnel, while seeking greater use of drones, robots and other unmanned systems. That is where humanoids have an unusual advantage over other machines. Warships, military vehicles, barracks and much of the equipment inside them were built around the human body. Doors have handles. Ships have ladders, switches and steering wheels. Maintenance crews use hand tools. Soldiers climb stairs, carry boxes, plug in cables and operate equipment designed for fingers and arms. A humanoid that can move and manipulate objects like a person could potentially enter that environment without the military having to rebuild everything around the robot. South Korea's Navy put that idea to the test in July. At the Naval Education and Training Command in Changwon, South Gyeongsang Province, a humanoid robot called PIBOT took the helm during the Navy's first combat experiment involving a robotic crew member. Developed by a Korea Advanced Institute of Science and Technology team, PIBOT was placed at a ship-handling simulator and asked to perform the work of an enlisted helmsman. When an officer issued a steering command, the robot repeated the instruction, turned the wheel and reported completion, following the same read-back procedure used by human sailors. It successfully carried out steering orders under simulated conditions including narrow waters, nighttime operation and bad weather. A large language model helped PIBOT interpret ship-handling procedures and spoken commands. More importantly, the experiment required no redesign of the existing controls for the robot. That small detail points to the broader attraction of humanoids: instead of building a special unmanned ship around a robot, the military could eventually put a human-shaped machine into a space already built for sailors. The Navy said the experiment was intended to identify duties that could be handed to robots and reduce sailors' workloads as part of its manned-unmanned "Navy Sea GHOST" concept. It remains a long way from replacing a sailor. A 2025 study by researchers at Korea National Defense University assessed South Korea's humanoid technology as still being at an early stage, largely capable of structured industrial work or walking demonstrations in controlled environments. The machines have yet to demonstrate the rough-terrain mobility and ability to perform complex, unstructured missions required in military operations, the researchers said. The study nevertheless identified humanoids as potentially useful for reconnaissance, logistics, hazardous-material handling and other high-risk missions in which human forces could be supplemented rather than replaced. South Korea's Agency for Defense Development is also working on the country's first bipedal military humanoid, with a prototype targeted for 2027. The biggest obstacles are increasingly apparent. One of them is surprisingly familiar: the hand. The human hand contains more than 25 bones and more than 30 joints connected through muscles and tendons capable of making minute adjustments almost without conscious thought, according to a Hyundai Motor Securities report on humanoid robot hands. Trying to reproduce those movements mechanically requires dozens of actuators, adding size, weight and cost. High-end robotic hands alone can cost tens of millions of won. Then comes control. A person can pick up an egg gently and immediately grip a heavy tool more firmly. A robot must calculate how each joint moves and how much force it should apply while continuously processing information from its sensors. Touch presents another gap. Human hands contain thousands of receptors capable of detecting pressure, texture and temperature and feeding that information almost instantly to the nervous system. Robotic hands operate with far fewer tactile sensors and still lag humans in processing speed and precision. That helps explain why many humanoid developers continue to use simple two- or three-finger grippers rather than fully articulated five-finger hands. For a factory robot performing the same motion thousands of times, that limitation may be manageable. For a military robot, it becomes much harder. A soldier may need to open a hatch, pull a cable, pick up a tool, turn a valve, move ammunition and then climb into a vehicle — tasks requiring different combinations of strength, touch and dexterity within minutes. "The key will be whether companies can develop robotic hands with sufficient degrees of freedom while sharply reducing costs," said Park Jun-young, an analyst at Hyundai Motor Securities. The problem helps explain why humanoid soldiers remain more science fiction than battlefield reality. Yet South Korea may not need robots capable of doing everything a soldier does for them to become valuable. Replacing a sailor at the helm for several hours, carrying supplies through a base, inspecting a hazardous area or conducting routine surveillance could remove individual jobs from units already struggling for personnel. And the manpower pressure is unlikely to disappear. Public opinion suggests Koreans still recognize the need for national service. An Ipsos survey conducted in late 2025 found 68 percent of South Korean respondents supported mandatory military service for young people, compared with a 30-country average of 52 percent. Some 62 percent said they would be willing to join formal preparation or training in case of foreign invasion. But support for the existing model has long been less clear-cut. A Gallup Korea survey in 2021 found 42 percent favored retaining conscription and 43 percent supported an all-volunteer military. On whether women should also be drafted, opinion was almost evenly divided, with 47 percent favoring male-only conscription and 46 percent supporting conscription of both sexes. Technology offers another route. South Korea's military reform plans increasingly envisage soldiers working alongside drones and robots rather than trying to maintain manpower solely by widening the draft. The Korea National Defense University researchers said humanoid technology remains short of what is required for immediate battlefield deployment and warned that technological uncertainty makes it difficult even to define military requirements before systems are tested in the field. That makes PIBOT important less as a glimpse of a robot army than as a demonstration of something more practical. A machine performed one job previously assigned to one sailor, using a workspace and controls designed for a human. Multiply that across ships, bases, logistics units and hazardous duties, and humanoids could begin to ease the demographic squeeze without ever becoming autonomous soldiers. For conscription-based militaries confronting a shrinking generation, that may be enough to make robots a lifeline. AJP Takeaways △ South Korea is turning to humanoid robots as its pool of military-age men shrinks and pressure grows on its conscription-based armed forces. △ The near-term goal is not to replace soldiers, but to assign robots repetitive, hazardous and manpower-intensive duties aboard ships, bases and frontline facilities. △ The Navy’s PIBOT test showed a humanoid can operate human-designed military controls without requiring major changes to existing equipment. △ Dexterous hands, tactile sensing, mobility and cost remain major barriers to wider military deployment. △ For Korea, humanoid robots are more likely to become force multipliers than autonomous soldiers, helping stretch a shrinking military workforce. 2026-08-07 17:42:55
Jeong Dong-young: North Korea's 'Joseon' Title Not Ministry Policy, Public Debate Needed First Jeong Dong-young, the Minister of Unification, expressed a cautious stance regarding the use of the term 'Joseon' to refer to North Korea, stating, "This is not something the Ministry of Unification should lead; public debate must come first." During his opening remarks at a discussion with members of the Peaceful Unification Advisory Council held at the Government Seoul Complex on August 7, Jeong noted, "In the work report on August 5, due to time constraints, the statement about pursuing this after public discourse was omitted, which made it seem as if the Ministry's policy had been decided. I hope to clarify this." He emphasized, "In a pre-briefing for the work report on August 4, I explained that this is not something the Ministry will push forward; public discourse must come first, and we will proceed after public opinion matures." Jeong added, "In the reporting guidelines released in 1995 by three media organizations—the Korean Journalists Association, the National Union of Media Workers, and the Korean PD Federation—there is a provision to refer to the other party by their national title. I hope this issue is not used as a political tool." The discussion included prominent members of the Peaceful Unification Advisory Council, such as Emeritus Professor Baek Nak-cheong of Seoul National University, former Unification Minister Lee Jae-jung, former Unification Minister and National Intelligence Service Director Im Dong-won, Director of the National Museum of Korean Literature Im Heon-young, former Unification Minister Jeong Se-hyun, and Father Ham Se-woong, Chairman of the Ahn Jung-geun Memorial Foundation. The elders pointed out that there have been over 100 documents in the past 30 years that include the official titles of both Koreas, asserting that the term 'Joseon' is not new. Former Unification Minister and National Intelligence Service Director Im Dong-won stated, "The June 15 North-South Joint Declaration, drafted between President Kim Dae-jung and North Korean Defense Chairman Kim Jong-il, explicitly mentions 'Republic of Korea' and 'Democratic People's Republic of Korea.' It feels as if using the term 'Joseon' is something new, but it is not at all." Former Unification Minister Jeong Se-hyun remarked, "Since the 1991 Basic Agreement between North and South Korea, there have been over 100 agreements that use the official titles of both countries. Why are we so afraid to call each other by our names when it has been documented?" Emeritus Professor Baek Nak-cheong also noted that during President Roh Tae-woo's administration, he referred to North Korea as 'Democratic People's Republic of Korea' in a speech at the UN General Assembly, highlighting a long-standing tradition. He stated, "Since the simultaneous admission to the UN, documents issued in the name of the president and numerous inter-Korean agreements have used each other's national titles."* This article has been translated by AI. 2026-08-07 17:36:00
KOSPI extends losses as SK hynix tumbles on Nvidia memory concerns SEOUL, August 07 (AJP) - South Korean stocks fell for a second straight session Friday, dragged down by SK hynix as renewed Strait of Hormuz concerns and weakness in United States tech shares fueled foreign selling. The benchmark KOSPI closed 0.60 percent lower at 6,258.77, extending Thursday's 4.58 percent drop. The index opened 1.09 percent higher at 6,365.07 and climbed as high as 6,415.60 before reversing course. It briefly fell to 6,158.73 before paring losses toward the close. Foreign investors sold a net 863 billion won ($604 million) worth of KOSPI shares, extending their selling streak to a second session. Individuals and institutions bought a net 267.4 billion won and 579.1 billion won, respectively, offsetting some of the decline. Foreigners had started the session as net buyers before turning sellers during the day, while retail investors moved in the opposite direction. In the KOSPI200 futures market, however, foreign investors remained net buyers, purchasing about 230 billion won. Chip stocks were at the center of the selloff. SK hynix fell 4.88 percent, making it one of the biggest drags on the KOSPI, while Samsung Electronics bucked the weakness with a 0.22 percent gain. SK hynix came under pressure after reports that Nvidia may use less high-bandwidth memory (HBM) than originally planned in Rubin Ultra, its next-generation AI chip for data centers. The news raised concerns over HBM demand, particularly for SK hynix, which has greater exposure to high-bandwidth memory than its domestic rival. Overnight weakness in U.S. technology shares added to concerns over the semiconductor sector. SanDisk plunged 6.81 percent and Western Digital tumbled 13.03 percent following their earnings releases, while SK hynix's U.S.-listed American depositary receipts fell 4.97 percent. Renewed tensions surrounding the Strait of Hormuz weighed on broader risk sentiment. Brent crude futures climbed 3.8 percent to $82.49 a barrel after reports that Iran was considering legislation that would prohibit vessels linked to the U.S., Israel and other hostile countries from passing through the key waterway. Investors also remained cautious ahead of the U.S. employment report due later Friday, which could provide fresh clues on the Federal Reserve's interest-rate outlook. Elsewhere among large-cap stocks, SK Square dropped 3.20 percent to 939,000 won, Hyundai Motor lost 1.13 percent to 395,500 won, Samsung Life Insurance fell 4.17 percent to 275,500 won and HD Hyundai Heavy Industries slipped 0.20 percent to 506,000 won. NAVER sank 7.08 percent to 210,000 won. Battery, biotechnology and defense shares, however, provided pockets of strength. POSCO Holdings rose 3.76 percent to 331,000 won, while LG Energy Solution climbed 4.35 percent to 360,000 won, Samsung Electro-Mechanics gained 3.99 percent to 1,278,000 won, Samsung Biologics advanced 2.77 percent to 1,556,000 won and Hanwha Aerospace climbed 4.08 percent to 1,097,000 won. Solar stocks also rallied on expectations that South Korean producers could benefit from new U.S. trade measures targeting China. Hanwha Solutions surged 11.51 percent to 32,750 won and OCI Holdings jumped 11.68 percent to 272,500 won after the U.S. announced a 15 percent tariff targeting Chinese polysilicon and related products. The divergence was also reflected at the sector level. Securities stocks fell 2.41 percent, construction shares declined 2.07 percent and electrical and electronics stocks lost 1.29 percent. Chemical shares, meanwhile, gained 4.37 percent and health care stocks advanced 4.20 percent. The junior KOSDAQ also succumbed to profit-taking after a sharp five-session rally. The index closed 0.36 percent lower at 798.81, ending a five-session winning streak after briefly climbing as high as 814.80. It had regained the 800-point level Thursday for the first time in 15 trading days but slipped back below the threshold after surging roughly 24 percent over the previous five sessions. Foreign and institutional investors sold a net 253.9 billion won and 102.9 billion won worth of KOSDAQ shares, respectively, while individuals bought a net 340.4 billion won. Foreigners have now been net sellers on the junior market for five consecutive sessions. Semiconductor and robotics shares led the declines on the junior market. Rainbow Robotics fell 5.01 percent to 465,000 won, Jusung Engineering dropped 4.20 percent to 127,800 won, Wonik IPS declined 4.64 percent to 88,300 won, EO Technics lost 3.57 percent to 324,500 won and Leeno Industrial slipped 1.79 percent to 65,700 won. Biotechnology and battery stocks moved in the opposite direction. Alteogen gained 3.92 percent to 305,000 won, HLB jumped 5.97 percent to 37,300 won and ABL Bio rose 3.96 percent to 86,600 won. EcoPro BM advanced 4.39 percent to 107,000 won, while EcoPro added 2.87 percent to 86,000 won. Trading turnover reached 24.70 trillion won on the KOSPI and 5.24 trillion won on the KOSDAQ. Trading on alternative exchange Nextrade's pre-market and main-market sessions totaled 12.21 trillion won. In the currency market, the Korean won weakened to 1,418.00 per dollar from 1,416.10 at the previous close. Regional markets showed a mixed picture. Japan's Nikkei 225 edged down 0.12 percent to 65,606.71. In contrast, China's Shanghai Composite rose 1.02 percent to 3,940.04 and Hong Kong's Hang Seng Index gained 0.53 percent to 25,666.31, supported by stronger-than-expected Chinese trade data. AJP Takeaways • South Korea’s KOSPI fell 0.60 percent to 6,258.77 on Aug. 7, 2026, extending its decline for a second consecutive session after a 4.58 percent drop on Aug. 6. • SK hynix fell 4.88 percent on Aug. 7, 2026, after reports that Nvidia may use less high-bandwidth memory in its next-generation Rubin Ultra AI chips, raising concerns about future HBM demand. • Foreign investors sold a net 863 billion won worth of KOSPI shares on Aug. 7, 2026, while individual and institutional investors were net buyers. • Brent crude rose 3.8 percent to $82.49 a barrel as renewed concerns over the Strait of Hormuz increased geopolitical and inflation risks for global markets. • The KOSDAQ fell 0.36 percent to 798.81 on Aug. 7, 2026, ending a five-session winning streak after gaining roughly 24 percent over the previous five trading days. • Hanwha Solutions and OCI Holdings surged 11.51 percent and 11.68 percent, respectively, as investors bet that new U.S. tariffs on Chinese polysilicon and related products could benefit South Korean solar companies. • The South Korean won weakened to 1,418.00 per U.S. dollar on Aug. 7, 2026, from 1,416.10 at the previous close. • Regional markets were mixed on Aug. 7, 2026: Japan’s Nikkei 225 fell 0.12 percent, while China’s Shanghai Composite rose 1.02 percent and Hong Kong’s Hang Seng Index gained 0.53 percent. 2026-08-07 17:32:29
Rumors of Critical Condition for Iran's Supreme Leader Ayatollah Mojtaba Khamenei Rumors regarding the critical condition of Iran's Supreme Leader Ayatollah Seyyed Mojtaba Khamenei are spreading within the Iranian leadership, according to a report by the opposition media IranWire, citing two sources on August 6.The report indicates that there are growing concerns about Khamenei's health, with speculation that he could pass away at any moment. One source noted that no members of the Iranian cabinet have met with Khamenei recently, stating, "We would not be surprised to hear news of his martyrdom soon."Mojtaba Khamenei assumed the role of Supreme Leader on February 28 after the death of his father, former Supreme Leader Ali Khamenei, who died due to attacks from the United States and Israel.Since then, Mojtaba Khamenei has not appeared in public, and no speeches have been broadcast. He has only issued statements without making public appearances, leading to various speculations about his health, including rumors of death, injury, disability, and hiding.Previously, Iranian President Masoud Pezeshkian mentioned in an interview with state media on August 5 that communication with Mojtaba Khamenei is currently "very difficult."* This article has been translated by AI. 2026-08-07 17:28:20
Rumors of Critical Condition for Iran's Supreme Leader Ayatollah Mojtaba Khamenei Rumors regarding the critical condition of Iran's Supreme Leader Ayatollah Seyyed Mojtaba Khamenei are spreading within the Iranian leadership, according to a report by the opposition media outlet IranWire, citing two sources on August 6.The report indicates that there are growing concerns about Khamenei's health, with speculation that he could pass away at any moment. One source noted that no members of the Iranian cabinet have met with Khamenei recently, stating, "We would not be surprised to hear news of his martyrdom soon."Mojtaba Khamenei assumed the role of Supreme Leader on February 28 after the death of his father, former Supreme Leader Ali Khamenei, who died due to attacks from the United States and Israel.Since then, Mojtaba Khamenei has not appeared in public, and no speeches have been broadcast. He has only issued statements without making public appearances. This has led to various speculations about his health, including rumors of death, injury, disability, and hiding.Previously, Iranian President Masoud Pezeshkian also mentioned in an interview with state media on August 5 that communication with Mojtaba Khamenei is currently "very difficult." 2026-08-07 17:28:00
Mayor Han Dae-hee: Heat-related illnesses can be prevented with proper preparation Han Dae-hee, the mayor of Gunpo, conducted focused safety inspections at major construction sites on August 7 to protect workers from the ongoing heatwave. He emphasized a "safety first" approach to ensure the well-being of construction workers. During the inspections, Mayor Han stated, "Heat-related illnesses can be effectively prevented through thorough preparation and adherence to safety guidelines." He urged that the five basic heat safety rules be implemented without fail and that any deficiencies be addressed immediately to prevent any safety incidents. From August 6 to 12, he will focus on inspecting three major construction sites, including emergency repairs to the Geumjeong Overpass, to assess their heat response measures. These inspections are part of proactive administrative efforts to prevent industrial accidents caused by the heat and to ensure worker safety. Mayor Han plans to verify compliance with the five basic heat safety rules, the installation of rest facilities, the provision of break times, the implementation of work stoppage measures based on heat levels, and the establishment of emergency response systems for heat-related illnesses. Additionally, he aims to enhance safety awareness on-site by providing training for workers and construction personnel on heat response protocols, prevention measures for heat-related illnesses, and mandatory safety management practices. Any deficiencies identified during the inspections will be corrected immediately, and the heat response situation at each site will be continuously monitored and improved as needed. Citizens have expressed their support for these measures, stating, "As heatwaves become a regular occurrence, ensuring safety at construction sites is not optional but essential." They praised the mayor's proactive inspections, saying it builds trust in prioritizing safety. They added, "Protecting the health and lives of construction workers translates to the safety of the community," and emphasized the need for practical safety measures like adequate breaks and work stoppages to be strictly enforced. They also noted that preventive administration is more important than reactive measures after accidents. Meanwhile, Mayor Han urged citizens to refrain from outdoor activities during peak heat hours and to stay hydrated and rested to maintain their health.* This article has been translated by AI. 2026-08-07 17:28:00
Kakao settles wage dispute after first strike SEOUL, August 07 (AJP) - A wage agreement that took 18 rounds of bargaining and the first strike in the company's history was ratified this week, closing a roughly three-month standoff at Kakao over how the South Korean technology company pays for performance. The deal applies a 6.3 percent increase measured against the funding base for total annual salary, excluding money set aside for stage-up raises tied to moves into higher job grades and roles. Employees also receive a special bonus of 3 million won, about $2,110. "Voting by members on the tentative agreement has been completed," the Kakao branch of the Korean Chemical, Textile and Food Workers' Union said Friday. Both sides had agreed since early this year that pay would rise. What they could not agree on was the formula underneath it. The union sought a 6.9 percent raise and a defined standard for performance pay set at 13 to 14 percent of operating profit, worth about 10 million won a person, or roughly $7,030. Kakao countered with 6.8 percent and performance pay funded at 10 percent of operating profit, on the condition that restricted stock units already promised to employees be counted inside that pool. Restricted stock units are company shares granted to staff that convert into ownership only after a set holding period. Talks went nowhere. The Gyeonggi Regional Labor Relations Commission suspended mediation on May 27, a ruling that handed the union the legal right to take industrial action and turned a bargaining impasse into a labor dispute. Members walked out for four hours on June 10, the first strike since Kakao was founded. The pressure continued through the summer. On June 29 employees took annual leave and logged out of internal work systems in a protest the union called a logout day. Picket demonstrations followed inside company offices on July 21. The two sides reached a tentative settlement on July 29. "We plan to faithfully implement the agreement reached in these negotiations and to work together on sustainable growth and a working environment where members can focus more on their work," a Kakao official said. The agreement closes once the two sides complete the remaining steps, including a signing ceremony. 2026-08-07 17:24:31
Com2us Unveils New MMORPG 'Zeus: God of Pride' with Fresh Take on Greek Mythology Com2us has unveiled its new multiplayer online role-playing game (MMORPG) 'Zeus: God of Pride.' While drawing on the familiar theme of Greek and Roman mythology, the game aims to reduce competitive fatigue often associated with existing MMORPGs and allows players to engage in competition in various ways.On August 7, Com2us held a showcase at the Marriott Dongdaemun Square in Seoul, where they revealed the development direction, key content, and service plans for 'Zeus: God of Pride,' which is set to officially launch on August 26 at noon.The showcase featured Com2us CEO Nam Jae-kwan, Everton CEO Kim Dae-hwon, Director Jung Sung-hoon, and Com2us Business Division Head Kim Jung-hoon, who introduced the game's development philosophy, core content, and service strategies.'Zeus: God of Pride' is based on the premise that the supreme god Zeus has caused a rift in the world due to his absolute power and pride. Players will receive divine powers to confront chaos and prove their strength and worth through a journey of cooperation and conflict. The game features graphics reinterpreted through Unreal Engine 5, showcasing a world inspired by Greek mythology, ancient architecture, and large-scale battlefields.The development team emphasized three core directions: 'top-level graphics,' 'enhanced convenience,' and 'competition for everyone.'Kim Dae-hwon, CEO of Everton, noted that while competition is a fundamental enjoyment of MMORPGs, it has increasingly favored top-tier players, creating barriers for newcomers and widening the gap in spending. Therefore, the focus is on creating an MMORPG that allows as many players as possible to experience competition in their own ways, rather than catering to a select few.To prevent competition from concentrating on a specific group of top players, various forms of competitive content have been designed. Key features include 'Odysseia,' 'Arcadia Conquest,' guild content, and the one-on-one content 'Colosseum' utilizing AI entities called 'Persona,' offering a range of competitive experiences from individual challenges to guild cooperation and conflict.Notably, Persona serves as a mechanism to reduce the pressure of real-time battles while maintaining the excitement of competition. In certain content, players can participate in competitive activities based on their combat capabilities without needing to engage in real-time battles directly.The economic system also aims to differentiate itself from combat-centric MMORPGs. Through the artisan class, which specializes in economics, gathering, crafting, and trading are interconnected, and systems like 'Midas's Vault' and an integrated marketplace facilitate production, consumption, and trade within the game. This allows players to gain roles and achievements in the game world and community through activities beyond combat.Convenience features have also been implemented to alleviate the burden of repetitive hunting and movement. With AI mode, players can continue hunting and leveling up even when not logged in, based on their settings. After server maintenance, AI mode automatically resumes, allowing players to manage key activities such as crafting, enhancing, collecting, and trading during AI mode.Plans for ongoing updates post-launch will also be in place. During the showcase, Com2us presented a roadmap for major content and service plans following the launch, outlining a vision for long-term live service.Additionally, actress Park Ji-hyun, who voices the key non-player character (NPC) 'Pandora,' made a surprise appearance at the showcase. Park participated in facial capture and voice recording for the character and shared her experiences with the game during the event.* This article has been translated by AI. 2026-08-07 17:24:20