Latest by
-
Korea and Central Asia Expand Economic Cooperation with $14 Million in Export Contracts Economic cooperation between South Korea and Central Asia is expanding beyond exports to include key raw material supply chains and energy infrastructure. During the recent visit of buyers and suppliers from five Central Asian countries, approximately $14 million in export contracts were signed on-site.The Korea Trade-Investment Promotion Agency (KOTRA) announced on September 17 that it hosted the 'Korea-Central Asia Business Partnership' event at the Westin Chosun Hotel in Seoul on September 16. The event featured participation from 33 Central Asian buyers and suppliers, along with over 90 domestic companies, resulting in more than 200 export consultations.A total of 16 contracts worth about $14 million were signed during the consultations. A consumer goods company secured a $3 million contract with a buyer from Kazakhstan. CU, which operates 70 stores in Kazakhstan, also held a showcase to introduce products from domestic small and medium-sized enterprises.In addition to product buyers, eight infrastructure project agencies and three key raw material suppliers participated in the event. Given the abundance of essential raw materials such as urea, phosphorous, and tungsten in Central Asia, discussions also focused on potential collaborations for diversifying supply chains for South Korean companies.During the Korea-Central Asia Business Summit held the same day, a joint declaration was adopted to broaden cooperation in areas including critical minerals, energy, and plant infrastructure, as well as artificial intelligence, digital technology, and biotechnology. Additionally, 19 memorandums of understanding were signed.KOTRA also operated a 'Supply Chain Lounge' to facilitate consultations between Central Asian raw material suppliers and domestic companies, with support from the Korea Export-Import Bank, the Korea Institute of Geoscience and Mineral Resources, and the Korea Mine Rehabilitation and Resource Corporation, which provided consulting on finance and resource development.A development cooperation model linking infrastructure projects and exports was also proposed. The ongoing district heating modernization project in Uzbekistan was introduced, and consultations on equipment supply between companies in the two countries were conducted. Separate exhibition booths were set up for local small businesses and micro-enterprises.The five Central Asian countries are diversifying their industrial structures, including manufacturing and information and communication technology (ICT), while increasing foreign investment, leading to greater demand for energy and infrastructure. KOTRA plans to expand cooperation beyond simple product exports to include supply chains and project contracts as a result of the summit.Kang Kyung-seong, president of KOTRA, stated, "Central Asia offers significant opportunities for cooperation due to its growth potential, abundant raw materials, geographical proximity, and deep historical and emotional ties. We will fully support the active engagement of businesses from both countries in exports, supply chains, energy, and infrastructure." 2026-09-17 09:40:20 -
National University Association Opposes Selective Support for '10 Seoul National Universities' The National University Professors Association (referred to as 'National University Association') has strongly opposed the Ministry of Education's selection results for the '10 Seoul National Universities' initiative. They are demanding the immediate inclusion of six national universities that were not selected and a comprehensive review of the competitive ranking policy that promotes selective and concentrated support.On September 17, the National University Association issued an emergency joint statement titled 'Return to the Principles of 5 Extremes 3 Specialties for National Balanced Development,' criticizing the government's '10 Seoul National Universities' project for straying from its original intent of promoting national balanced development and fostering unnecessary competition and disparities among national universities.In the statement, the association outlined three key demands directed at the Ministry of Education.First, they strongly urged the addition of the six unselected national universities to ensure that all national universities can function as core pillars of national balanced development, supported by a stable and continuous national funding system.Next, they called for a complete re-evaluation of the competitive support system that selectively and intensively supports only certain universities, which leads to new disparities and hierarchies. They also demanded the transparent disclosure of evaluation criteria, procedures, and results, as well as institutional guarantees for the independence, objectivity, and fairness of evaluations.The National University Association stated, 'The government's strategy for promoting balanced growth, established with enthusiasm at the beginning of its term to overcome the one-pole system in the metropolitan area and the crisis of regional extinction, has drifted just one year later.' They criticized the government's promise to cultivate growth hubs comparable to the metropolitan area as having been seriously distorted in the execution process.They particularly emphasized that 'reintroducing competition and ranking among national universities that should be nurtured together contradicts the intent of balanced development.' They questioned whether the government's goal is to create new regional disparities by widening the gap between the three selected universities and the six unselected ones.Regarding the opaque evaluation process and fairness issues, the National University Association expressed strong criticism, stating, 'The evaluation criteria for the '10 Seoul National Universities' have not been disclosed at all, and the government's explanations regarding follow-up actions are inconsistent.' They urged that if political or regional considerations have influenced large-scale national financial support, this must be clearly stated, and the evaluation criteria and rationale should be transparently disclosed to university stakeholders.Furthermore, the National University Association asserted, 'Higher education should not be swayed by political gains and losses, as it is a long-term investment for the future.' They called for the immediate exclusion of non-experts who have distorted policies without understanding the characteristics and academic diversity of universities, and emphasized the need for a policy direction led by experts who deeply understand the characteristics of national, public, and private universities.* This article has been translated by AI. 2026-09-17 09:40:00
-
Toyota and Lexus Rank First and Second in Sales and Service Satisfaction Korea Toyota Motor has been recognized by consumers for its sales service and after-sales service competitiveness. On September 17, Korea Toyota Motor announced that it ranked at the top in the '2026 Annual Automotive Planning Survey' conducted by the automotive research firm Consumer Insight. Toyota and Lexus secured the first and second positions, respectively, in both sales service satisfaction and after-sales service satisfaction categories. Sales service satisfaction evaluates the showroom, sales staff, delivery process, and post-purchase customer management for consumers who purchased a new car within the past year. In this year's survey, Toyota scored 850 points, maintaining its first place for five consecutive years, while Lexus scored 839 points, securing second place for the same duration. After-sales service satisfaction assesses the experiences of customers who used official service centers in the past year. Toyota achieved a score of 859 points, ranking first, while Lexus followed closely with 858 points in second place. Notably, Toyota has shown a steady upward trend, moving from third place in 2023 to second in 2024, sharing second place in 2025, and finally reaching first place this year. Gang Dae-hwan, Vice President of Korea Toyota Motor, stated, “We will continue to listen to our customers and strive to provide satisfactory services throughout the entire car ownership experience, from purchase to management, in collaboration with our nationwide dealers.” Meanwhile, Korea Toyota Motor plans to continue its market strategy in the second half of the year by introducing new models. Lexus has begun pre-orders for the completely redesigned 'All-New ES' since September 14. * This article has been translated by AI. 2026-09-17 09:40:00
-
Yoo Min Appointed as New Secretary General of the Korean Liberation Association The Korean Liberation Association announced on the 16th that Yoo Min has been appointed as the new Secretary General. Yoo, who previously served as the Director of External Cooperation and the Planning and Coordination Office, has held key positions within the organization. Last year, he was a member of the committee for the 80th anniversary of liberation and successfully led major projects, including a cultural event commemorating the 150th anniversary of Kim Gu's birth held at Gwanghwamun Square last month. Yoo is a graduate of Korea University with expertise in media, diplomacy, and education. He has experience in journalism as a reporter for the Seoul Shinmun and as a correspondent in Moscow. Additionally, he has served as an administrative officer at the Blue House, a minister-counselor at the Embassy of the Republic of Korea in Russia, a consul at the Consulate General in Los Angeles, and the president of Kyrgyz International University in Central Asia, accumulating extensive experience in national and foreign affairs.* This article has been translated by AI. 2026-09-17 09:40:00
-
President Lee Vows to Track Down Ticket Scalpers and Recover Illegitimate Profits 이재명 대통령은 17일 “정당한 관람 기회를 빼앗는 암표 거래를 끝까지 추적해 부당하게 챙긴 수익까지 반드시 환수하겠다”고 밝혔다.이 대통령은 이날 엑스(X·옛 트위터)에 아이돌 공연과 해외 가수 내한 콘서트, 스포츠 경기 등의 티켓을 정가보다 최대 30배 비싸게 되팔아 십수억원을 챙긴 암표 업자 검거 소식을 다룬 한 언론사 기사를 공유하며 이같이 말했다.이 대통령은 “지난 8월 28일부터 개정된 공연법이 시행되며 효과를 발휘하고 있다”며 “암표로 부당한 이익을 챙기다가는 반드시 더 큰 대가를 치르게 된다는 사실을 분명히 보여주겠다”고 강조했다. 경찰 관계자들을 향해서도 “애써주신 경찰 관계자 여러분, 수고하셨다”고 격려했다.경기북부경찰청 사이버범죄수사2대는 최근 업무방해 혐의로 30대 남성 A씨를 구속해 검찰에 넘겼다. A씨는 2018년 9월부터 올해 4월까지 매크로 프로그램과 가족·친척 명의의 계정을 이용해, 공연·스포츠 경기 티켓 8967장을 사들인 뒤 약 24억원에 재판매한 혐의를 받는다.A씨는 11만원짜리 방탄소년단(BTS) 콘서트 티켓을 300만원에 되파는 등 최대 30배의 웃돈을 받은 것으로 조사됐다. 경찰은 A씨가 범죄수익으로 아파트와 상가 등을 매입한 것으로 보고, 상가 2채와 채권 등 12억6000만원 상당을 기소 전 추징보전했다.* This article has been translated by AI. 2026-09-17 09:36:10
-
Genesis Unveils GMR-001 Hypercar at First Domestic Fan Festival Genesis will unveil its GMR-001 hypercar, which completed the Le Mans 24 Hours race, for the first time in South Korea. The company announced it will host its first large-scale motorsports fan festival, sharing its racing experience gained on the global stage.The 'Genesis Magma Racing Live Festival' will take place from September 24 to 27 at Starfield Hanam in Gyeonggi Province.This event is linked to the sixth round of the FIA World Endurance Championship (WEC), the Fuji 6-Hour Race. This marks the first time Genesis is holding a large motorsports fan festival in South Korea.During the festival, the actual #19 GMR-001 hypercar, which completed the Le Mans 24 Hours in June, will be displayed for the first time in the country. The #19 car completed 372 laps, covering approximately 5,069 kilometers, finishing in 13th place.Genesis will also showcase the 'Magma GT3 Concept,' which expresses its commitment to participating in future GT3 endurance races. This vehicle was first revealed during the Le Mans 24 Hours race in June.On the final day, September 27, the WEC Fuji 6-Hour Race will be broadcast live. At the Megabox Hanam Starfield, a program will be available to watch the race on a large screen with sound facilities. Tickets can be reserved through the Megabox app and website. Free viewing will also be available at the South Atrium and Genesis Studio Hanam.Lee Si-hyeok, Executive Vice President of Genesis, stated, "This is an opportunity to share the experience and passion we have built on the global motorsports stage with domestic fans. We aim to provide a special experience where they can feel the excitement and emotion of the race in real-time and experience the brand's future vision."Meanwhile, the WEC is the world's premier endurance racing series governed by the FIA. Genesis Magma Racing made its debut in the WEC this year with the GMR-001 hypercar and will compete in the sixth round of the season at the Fuji Speedway in Japan on September 27.* This article has been translated by AI. 2026-09-17 09:36:00
-
MoonPay Hires Choi Han-gyeol as Chief Strategy Officer Global virtual asset payment and stablecoin infrastructure company MoonPay has announced the appointment of Choi Han-gyeol, former vice president of Streami, as its Chief Strategy Officer for MoonPay Korea.Choi began his career in proprietary investment at Mirae Asset Securities and later worked in investment at IBK Industrial Bank. He spent over eight years at Streami, the operator of the domestic won-based virtual asset exchange Gopax, where he was responsible for business strategy, collaboration with financial institutions and regulatory authorities, and external affairs. He most recently served as vice president at Streami.In his new role at MoonPay Korea, Choi will oversee the establishment of long-term growth strategies and business development in the Korean market. He aims to integrate MoonPay's global payment and digital asset infrastructure into the local market and identify collaboration opportunities with financial companies and key partners.Choi will also be responsible for developing business strategies that align with domestic digital asset regulations and market changes, while connecting MoonPay's global headquarters and Asia-Pacific organization with the Korean market.Lee Boo-geun, co-founder and Asia representative of MoonPay, stated, "We expect that the addition of Director Choi Han-gyeol, who has experience in both traditional finance and the digital asset industry, along with a deep understanding of the Korean market and regulatory environment, will play a crucial role in shaping MoonPay's business strategy in Korea."* This article has been translated by AI. 2026-09-17 09:32:20
-
Church Teacher Sentenced to 6 Years for Sexual Assault of Minor Student A church teacher in his 30s has been sentenced to six years in prison for committing multiple sexual offenses against a minor student.According to Yonhap News, the Suwon High Court's Criminal Division 1, presided over by Judge Shin Hyun-il, upheld the original sentence on September 16 for A, who was charged with violating laws on the protection of children and adolescents (coercive intercourse).The appellate court acknowledged that the defendant admitted to the crimes during the trial and had deposited 30 million won for the victim, but noted that the victim continues to suffer and has expressed a desire for severe punishment, refusing to accept the compensation.The court stated, "Considering the method, frequency, and duration of the offenses, the nature of the crime is extremely poor," and concluded that there were no circumstances warranting a change in the original sentence, as all factors had already been sufficiently considered.Previously, A was charged with coercively engaging in sexual acts with a 17-year-old high school student from the church where he worked, from August 2019 to June 2020, committing the acts multiple times and attempting similar acts.Investigations revealed that he exploited the victim's vulnerable situation, as she was unable to receive proper care from her parents due to financial difficulties and relied on the church.During the first trial, A maintained that he and the victim were in a loving relationship, denying the charges.However, the first trial court dismissed this claim, citing the victim's diary entries that vividly described the incidents, her emotional distress, and fear of the defendant.The first trial had sentenced A to six years in prison, which was heavier than the prosecution's request of five years, and mandated 40 hours of sexual violence treatment and a five-year employment restriction. 2026-09-17 09:32:20
-
SpaceX's Upcoming Starship Test Flight Boosts Space Stocks On September 17, shares of space-related companies surged in early trading following the announcement that SpaceX will conduct its first test flight of the Starship spacecraft into Earth's orbit.According to the Korea Exchange, as of 9:20 a.m., Naraspace Technology was trading at 13,730 won, up 28.80% from the previous trading day. This marks the company's fourth consecutive day of gains, reaching the upper limit of its trading range.Naraspace Technology provides a range of services across the space industry, including the development, production, and operation of small satellites, as well as satellite data analysis. The company is also engaged in the development and mass production of low-orbit small satellite platforms to secure high-frequency Earth observation imagery.Kenko Aerospace also saw a significant increase, trading at 11,930 won, up 17.19% from the previous day. Other companies, including Aju IB Investment (up 10.43%), Mirae Asset Venture Investment (up 3.41%), and SensorView (up 18.11%), also experienced gains.Meanwhile, SpaceX announced plans to conduct its 14th Starship test flight on September 22, pending regulatory approval.Unlike the 13th test flight in July, which was a suborbital flight, this upcoming test aims to place the Starship into an orbit approximately 275 kilometers above Earth, where it will complete six orbits before landing in the Pacific Ocean west of Chile after 10 hours.In anticipation of this event, SpaceX's stock rose 5.15% in the previous day's trading on the New York Stock Exchange.* This article has been translated by AI. 2026-09-17 09:32:10
-
JB Financial Group Partners with Upstage for AI Innovation in Finance JB Financial Group has partnered with AI technology company Upstage to identify innovative AI applications for the finance sector.On September 17, JB Financial announced the establishment of a strategic partnership aimed at collaboration in finance and AI technology.Through this agreement, JB Financial plans to leverage Upstage's large language model (LLM) technology to develop finance-specific AI agents. A collaborative framework will also be established involving group affiliates such as Jeonbuk Bank, Gwangju Bank, and JB Woori Capital.The two companies agreed to expand their cooperation in areas including the discovery and application of finance-specific innovations using AI technology, joint training and personnel exchanges to enhance expertise in finance and AI, the identification of joint AI projects in collaboration with local governments and communities, and participation in related consortiums.This partnership is part of JB Financial's strategy to accelerate its company-wide AI transformation (AX). The initiative aims to cultivate talent in finance and AI integration while contributing to the revitalization of the local AI ecosystem through community-linked projects.Kim Ki-hong, Chairman of JB Financial Group, stated, "By combining the strengths of both companies, we will drive financial innovation and coexistence with the local community. We will also integrate Upstage's AI solutions into our Southeast Asian subsidiaries to create new business opportunities in the global market."* This article has been translated by AI. 2026-09-17 09:32:10