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Government to Ease Loan Regulations for Young Couples and First-Time Homebuyers Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol announced plans to ease loan regulations for young people, newlyweds, and low-income individuals without homes. The government will also introduce measures to increase housing supply, focusing on non-apartment units, which have shorter supply timelines.In a phone interview on MBC Radio's 'Kim Jong-bae's Focus,' Ku acknowledged the need to relax loan regulations, stating, "I empathize with the need to protect low-income and genuine homebuyers, such as young people and newlyweds."He added, "We are considering targeted support to alleviate difficulties," indicating that customized financial assistance plans are in the works.Ku also previewed additional housing supply measures and financial policies, saying, "We aim to increase housing supply as quickly as possible, and since apartment construction takes longer, we will focus on increasing the supply of non-apartment housing."He emphasized that the recently announced real estate tax reform plan is designed to reduce the burden on individuals owning one home for personal residence."For homes valued under 3 billion won, we have significantly reduced the tax burden," Ku explained. "If someone buys a house for 3 billion won and lives there for about ten years, we have lowered both the holding tax and the capital gains tax during that period."Regarding the increased tax burden for homes valued between 4 billion and 5 billion won, he noted that this is a result of adjustments to deductions and tax rates. While the government has not set a separate threshold for high-value homes, it is viewed as normalizing the tax burden starting from that price range.The government will temporarily lower the capital gains tax rate for multiple homeowners from 2027 to 2028. For those with two homes in designated adjustment areas, the basic tax rate will increase by 5 percentage points in 2027 and 10 percentage points in 2028, reverting to the current 20 percentage points in 2029. For those with three or more homes, the rates will be adjusted by 10 and 15 percentage points, respectively, before returning to 30 percentage points in 2029.Ku clarified that this measure is a temporary easing of tax rates, not a suspension of the increased tax application. He stated, "As the burden of holding taxes increases, we have reflected the public's request for a gradual adjustment period for these individuals."Regarding regulations on single-stock leveraged exchange-traded funds (ETFs), he noted that after raising the basic deposit requirement to 30 million won on July 31, the concentration phenomenon has eased. The government plans to continue monitoring market conditions before deciding on further actions.* This article has been translated by AI. 2026-08-07 09:52:20 -
Samsung Medical Center Earns Top Rating as 'World's Greenest Hospital' Samsung Medical Center has received the highest rating of '5 Leaves' in the 'World's Greenest Hospitals 2026' evaluation conducted by Newsweek. Out of over 6,000 hospitals worldwide assessed in this evaluation, only 36 hospitals achieved the top rating.On August 7, Samsung Medical Center announced that it ranked in the top 0.6% of all hospitals evaluated, according to the results released on August 6 (local time). This year marks the first time Newsweek has conducted a global evaluation of eco-friendly hospitals, considering sustainability based on environmental performance data and expert recommendations.Among the hospitals evaluated, 250 received three or more leaves and were classified by rating. Samsung Medical Center achieved the highest rating of five leaves. Additionally, based on its achievements in sustainable infrastructure and expert evaluations, it was also selected as one of only 24 hospitals worldwide to receive the 'Outstanding Sustainable Infrastructure Hospital' designation.Park Seung-woo, President of Samsung Medical Center, stated, "This recognition reflects not only the excellence of our medical services but also our efforts in sustainable management that encompasses environmental, social, and transparent governance. We will continue to advance patient-centered healthcare services alongside our ESG management to lead sustainable future healthcare."Since launching its ESG (Environmental, Social, and Governance) committee in 2021, Samsung Medical Center has integrated eco-friendly management into its healthcare practices. Starting in 2023, the hospital has published annual ESG reports detailing its achievements and plans related to ESG.In its funeral service department, Samsung Medical Center introduced reusable containers in 2024, becoming the first among general hospitals to do so, which reduced disposable waste by approximately 80%. Last year, it replaced artificial flowers, which typically use a lot of plastic, with 100% biodegradable flowers to promote an eco-friendly funeral culture.Eco-friendly initiatives have also expanded into core medical areas such as wards and operating rooms. The hospital has reduced medical waste and implemented an eco-friendly dialysis system that adjusts the use of dialysis fluid based on blood flow rates, thereby decreasing wastewater discharge.The hospital is also actively managing the use of anesthetic gases with high global warming potential (GWP). It has fully expanded a paperless system, including the digitization of medications and testing processes, and online issuance of medical record copies, which has reduced paper usage and waste generated during administrative processes.Samsung Medical Center has received multiple recognitions for its sustainable management efforts. In 2023, it became the first general hospital to win both the 'Korea Sustainability Index (KSI)' and the 'Sustainability Reporting Award (KRCA).' In 2024, it received the overall ESG award at the inaugural 'K-ESG Management Awards' in the healthcare sector. Last year, it was awarded the Presidential Citation in the sustainable management category at the National Quality Management Conference, and this year, it was selected as an 'Outstanding Hospital for Carbon Neutral Activities' by the Seoul Metropolitan Government.In addition to its eco-friendly management, Samsung Medical Center has also ranked highly in international evaluations in the healthcare sector. In February of this year, Newsweek ranked it 26th among the world's best hospitals and first in South Korea. In specialty evaluations, it has ranked third in the world for cancer treatment for two consecutive years.* This article has been translated by AI. 2026-08-07 09:52:20
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Eastar Jet Launches Incheon to Hohhot Route Eastar Jet announced on August 7 that it has launched its Incheon to Hohhot route as of August 6. The inaugural flight was fully booked.The Incheon to Hohhot route is exclusively operated by Eastar Jet, with flights scheduled twice a week starting from August 6.Outbound flights depart Incheon International Airport at 10:40 PM every Thursday and Sunday, arriving at Hohhot Baita International Airport at 12:15 AM the following day (local time). Return flights leave Hohhot at 1:20 AM on Fridays and Mondays, arriving back in Incheon at 4:30 AM.To celebrate the launch of the Incheon to Hohhot route, Eastar Jet held an inauguration event at Incheon International Airport on August 6, attended by CEO Cho Jung-seok and company staff. The event included the distribution of souvenirs to the first passengers and a moment to wish for the safety of the flight and cabin crew.An Eastar Jet representative stated, "Hohhot is an attractive travel destination where visitors can experience unique nature and the cultures of China and Mongolia. We will continue to expand our new routes to broaden travel options for our customers."Hohhot, the capital of Inner Mongolia Autonomous Region, is known for its vast natural landscapes, including the Xilamuren Grassland and the Kubuqi Desert, as well as cultural heritage sites like the Dazhao Temple.At night, visitors can enjoy a stunning starry sky, and during the summer, the relatively cool climate makes it a popular alternative vacation spot.* This article has been translated by AI. 2026-08-07 09:52:10
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NH Nonghyup Bank Sells Out 10,000 'NH Travel Savings' Accounts in Just Eight Days NH Nonghyup Bank announced on August 7 that its travel-focused product, 'NH Travel Savings,' developed in collaboration with Modoo Tour, has sold out its limited offering of 10,000 accounts just eight days after its launch.Launched on July 31, the NH Travel Savings is a flexible savings product with a three-month maturity that offers an annual interest rate of up to 7.3%. All customers who sign up receive 30,000 miles from Modoo Tour, and an additional event is providing NH points to the first 5,000 sign-ups.The bank explained that the combination of financial benefits and travel services, along with increased travel demand during the summer vacation season, contributed to the rapid sales completion.A representative from Nonghyup Bank expressed gratitude for the customers' interest and support, stating, "We will continue to introduce embedded financial products and services that provide practical benefits to our customers' daily lives through various collaborations with companies."* This article has been translated by AI. 2026-08-07 09:52:10
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Three Candidates for Democratic Party Leadership Focus on Ho-nam Region Three candidates for the leadership of the Democratic Party of Korea headed to the Ho-nam region on August 7. While voting is ongoing in Daegu and Gyeongbuk during the second week of the party convention, they appear to be concentrating on the third week, known as 'Golden Week,' where the election outcome is expected to be determined. All three candidates are hopeful for significant support in Ho-nam.Candidate Kim Min-seok is touring the Jeonnam-Gwangju area, including Mokpo and Haenam. Jeonnam-Gwangju is a key location for President Lee Jae-myung's three major mega-projects aimed at promoting local-led growth. Kim argues that he should become party leader to ensure the success of these projects, having worked alongside President Lee. He currently believes he can secure a majority of votes in Ho-nam.Candidate Jung Cheong-rae is focusing his campaign in Jeonbuk. He is appealing for support by highlighting that Jeonbuk has been neglected compared to Jeonnam-Gwangju, where the mega-projects are being implemented. Former Jeonbuk Governor Lee Won-taek is also aligned with Jung's faction within the party. Jung stated, "Ho-nam will turn around completely. The support from Ho-nam is not confined to the National Assembly offices," emphasizing that grassroots momentum can overcome organizational challenges.Candidate Song Young-gil has concentrated his schedule this week in Jeonnam-Gwangju. Excluding the TV debate held on August 5, he has met with party members in the area for four consecutive days. After achieving about 10% of the vote in the first week of the convention, Song predicts a turnaround starting with the second week of the convention in Incheon, followed by Ho-nam and the Seoul-Gyeonggi areas in the third week.The Democratic Party's convention is expected to hinge on the support from Ho-nam and the Capital Region, where many party members reside. The party will hold its regional conventions in Ho-nam on August 15 and in Seoul-Gyeonggi on August 16. The recent focus of candidates from the Capital Region on Ho-nam can be understood in this context, as Ho-nam is considered the party's stronghold and could influence voter sentiment in the Capital Region.Some analysts suggest that scheduling the Ho-nam and Capital Region events at the end of the convention has contributed to its success, while others argue that the second week's regions (Jeju, Incheon, Gangwon, Daegu, and Gyeongbuk) were relatively overlooked.Notably, the TK region is a strategic area for the Democratic Party. To minimize the drawbacks of the one-person, one-vote system during the convention, a 5% weighting is applied. While the one-person, one-vote system reflects the opinions of many party members, there are concerns that minority voices may be overlooked.Meanwhile, this party convention will implement a preferential voting system. If no candidate receives a majority of votes during the convention in Daejeon on August 17, the second-choice votes of the third-place candidate will be combined to determine the winner.* This article has been translated by AI. 2026-08-07 09:52:10
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Seoul rebound fragile on SK hynix lag SEOUL, August 07 (AJP) -The KOSPI struggled to claw back into positive territory Friday as heavyweight SK hynix remained under foreign attack, leaving the market's rebound on shaky footing. By 9:45 a.m. the KOSPI was 0.20 percent lower at 6,284.46 after opening higher. Samsung Electronics rose 2.82 percent to 237,000 won ($166), double the 1.40 percent gain that lifted SK hynix to 1,516,000 won ($1,064), even though SK hynix fell far harder on Thursday. Foreign investors turned buyers at the open, and the individual investors who absorbed their selling a day earlier turned sellers. SK hynix dropped 10.37 percent Thursday against Samsung's 6.30 percent, so it is climbing out of a deeper hole with less lift. The No. 2 stock is 2.3 percent lower Friday at 1,460,000 won. The reason is that Thursday's trigger was a NAND flash story, and NAND is where the two companies differ most. SanDisk guided first-quarter revenue below consensus after Wednesday's U.S. close, and SK hynix owns Solidigm, the American NAND unit it is currently trying to raise as much as 10 trillion won ($7.0 billion) for in a pre-IPO round ahead of a possible Nasdaq listing. Traders read doubts about NAND pricing as landing on SK hynix's balance sheet in a way they do not on Samsung's. Foreign investors bought a net 297.1 billion won ($209 million) of main board stock in the opening minutes, after selling 3.35 trillion won ($2.35 billion) on Thursday. Individuals sold a net 269.0 billion won ($189 million). Institutions were flat. The narrowness of the move is easy to miss. More KOSPI stocks rose than fell on Thursday even as the index shed 4.58 percent, and 591 stocks were advancing against 233 declining at Friday's open. The leadership again sat outside memory. LG Energy Solution gained 3.91 percent to 358,500 won ($252) and Samsung Electro-Mechanics rose 3.25 percent to 1,269,000 won ($891), with battery, chemical and lithium-linked names among the strongest sectors on the board. The KOSDAQ climbed 1.64 percent to 814.80, outpacing the main index in Seoul and on course for a sixth consecutive advance. Hyundai Motor Securities had flagged the pattern before the open, noting that money has rotated into small and mid-cap names since July and that retail holders were likely to sell into any index rebound. Thursday's session had opened 1.81 percent lower and fell as far as 6,238.32, prompting the Korea Exchange to suspend program sell orders for five minutes at 10:18 a.m. under its sidecar rule. The Nikkei 225 was down 254.07 points, or 0.39 percent, at 65,429.19 as Friday morning, after Japanese memory maker Kioxia slid more than 10 percent on Thursday. The won traded at 1,424.60 per dollar, marginally weaker than Thursday. 2026-08-07 09:52:06 -
Seonggeumwon Provides 161.2 Billion Won in Microfinance in First Half of 2026 The Seonggeumwon (Korea Inclusive Finance Agency) reported that it supplied over 161.2 billion won in microfinance to small business owners, youth, and financially vulnerable groups in the first half of 2026.According to the agency, the total amount of microfinance provided in the first half of the year reached 161.24 billion won, an increase of 13.4 billion won (9.1%) from 147.85 billion won during the same period last year.Microfinance is a policy financial product aimed at small business owners, youth, and financially vulnerable groups who have difficulty accessing traditional financial institutions due to low credit scores and income. It is provided through 11 microfinance foundations established with donations from corporations and banks, as well as 27 regional corporations nationwide.The number of microfinance transactions in the first half of the year reached 16,359, marking the highest level ever recorded for a half-year period. This increase is attributed to rising demand for policy financing among small business owners and low-credit individuals, who are finding it increasingly difficult to access traditional financial services due to economic downturns and stricter lending criteria.Three new products launched in March provided 26.52 billion won in funding. The 'Youth Future Connection Loan' and 'Youth Operating Fund Loan' for young people accounted for 11.4 billion won and 6.14 billion won, respectively. Additionally, 8.98 billion won was allocated for living expenses for financially vulnerable groups.Furthermore, additional contributions from the financial sector and corporations are ongoing. Following the third 'Inclusive Finance Transformation' meeting held in March, the financial sector and corporations pledged a total of 700 billion won in additional microfinance donations. Shinhan, Woori, KB, Hana, and NH Financial Group each committed 100 billion won, totaling 500 billion won. NH Financial Group plans to establish the NH Microfinance Foundation within the year. Last month, Samsung Group also announced a 200 billion won donation to support the practical independence of small business owners.Kim Eun-kyung, head of the Seonggeumwon, stated, "Microfinance is a representative model of productive finance and a Korean-style microcredit created through collaboration between the financial sector and corporations. We will expand support to help small business owners, youth, and financially vulnerable groups achieve real independence."* This article has been translated by AI. 2026-08-07 09:52:00
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Kookmin University opens AI alliance with 10 companies SEOUL, August 07 (AJP) - SEOUL, August 07 (AJP) - A proposal to form a corporate consortium that would fund dedicated admission seats in artificial intelligence and software was raised at Kookmin University on July 24, at the launch of an industry alliance the Seoul school is building with 10 technology companies. Contract-based quotas let companies pay for places at a university under an agreement that links admission to employment with the sponsoring firms. The university's account of the meeting did not name who made the proposal, set a timeline, or say whether any company had committed to it. Kookmin University said Thursday that its College of Software Convergence has hosted the launch at the main administration building. The alliance is called the KMU AX Innovation Alliance, taking its name from AI transformation, the term used in South Korea for applying AI across an organization's existing operations. Son Jin-sik, the university's vice president for planning, and Hwang Sun-tae, dean of the software college, attended. Participants discussed joint projects, field training, internships, hiring pipelines and jointly operated courses, the university said. KT, NHN Cloud, TmaxTibero, Hancom InnoStream, Innogrid and Maum AI were among the companies represented, drawn from cloud computing, data, enterprise software, security and applied AI. The university did not say whether the firms had joined the alliance as members. Kookmin has held a government software designation since 2022, when the Institute of Information and Communications Technology Planning and Evaluation selected its software college for funding of up to 2 billion won a year. Fifty-eight universities hold the designation. The Ministry of Science and ICT began converting those schools this year into what it calls AI-centered universities, a program paying 3 billion won a year for as long as eight years. Seven were named on May 5. They were Gachon, Korea, Sogang, Sungkyunkwan, Soonchunhyang, Soongsil and Yonsei universities. Kookmin was not among them. The ministry said then that it would select three more in June from universities outside the software program. On July 2 it announced a separate expansion of eight additional places, restricted to software-designated universities outside the capital region. Kookmin, in Seoul, was not eligible for that round. The government has said it wants 30 AI-centered universities by 2030. The national AI action plan for 2026 through 2028, issued in February by the National AI Strategy Committee and the science ministry, calls for converting the software-designated universities into AI-centered ones and for expanding contract departments and other industry-demand-based training. Kookmin marks its 80th year in 2026 and has named eight priority fields under a long-term development plan. One of them is AI+X, the pairing of AI with other disciplines, and the alliance sits under that field. The university said it would hold regular exchanges and follow-up working-level consultations with the participating companies, and would keep expanding the network to firms in cloud and AI infrastructure, generative AI and AI agents, data, enterprise software, security and field-deployed AI. Its software college funding runs to December 2027. AJP Takeaways ● Kookmin University hosted the July 24 launch of the KMU AX Innovation Alliance, where a proposal was raised to form a corporate consortium funding dedicated admission seats in AI and software. The university did not name who made the proposal, set a timeline, or say whether any company committed. ● The Ministry of Science and ICT named seven AI-centered universities on May 5 without including Kookmin, then restricted a July expansion of eight further places to schools outside the capital region, leaving the Seoul university ineligible. Neither the selection round nor Kookmin's exclusion from it appeared in the university's announcement. ● KT, NHN Cloud, TmaxTibero, Hancom InnoStream, Innogrid and Maum AI were among 10 companies represented at the launch. The university did not say whether the firms had joined the alliance as members. ● The National AI Strategy Committee's action plan for 2026 through 2028 calls for converting South Korea's 58 software-designated universities into AI-centered ones and for expanding contract departments and other industry-demand-based training. 2026-08-07 09:44:27 -
HD Hydrogen Establishes Production System for Korean Solid Oxide Fuel Cells HD Hydrogen, a subsidiary of HD Hyundai specializing in fuel cells and electrolysis, has established a production system for Korean solid oxide fuel cells (SOFC) and is set to aggressively target the market.On August 7, HD Hydrogen announced that it has completed the pre-use inspection of its SOFC power generation systems, 'HD250' and 'HD300', as well as its manufacturing facilities, with the Korea Electrical Safety Corporation (KESCO).The HD250 and HD300 are small to medium-sized SOFC products rated at 249 kW and 285 kW, respectively. This inspection confirmed the safety and compliance of the electrical equipment in both the products and manufacturing facilities, laying the groundwork for stable production and supply.Founded in August 2024, HD Hydrogen has quickly established a solid foundation for its business by completing the development of high-efficiency SOFC power generation systems and setting up production lines within just two years.SOFC technology is recognized as a next-generation power generation method capable of achieving high efficiency with hydrogen fuel cells. It can utilize various fuels, including natural gas and hydrogen, and is noted for its ability to harness heat generated during the power generation process, making it a key technology for eco-friendly distributed power sources.The HD250 and HD300, now entering mass production, are designed for the small to medium-sized power generation market, featuring water-free operation technology that allows them to function without external water supply. This enhances installation convenience and operational efficiency, making them adaptable to various installation environments and operating conditions.Nam Young-jun, CEO of HD Hydrogen, stated, "The rapid development of products and establishment of a production system can be attributed to the manufacturing capabilities accumulated by HD Hyundai. With this production system in place, we will actively expand our SOFC business not only in the land power generation market but also in the marine market in the future."Meanwhile, the global SOFC market is projected to grow from approximately $2.2 billion in 2026 to around $3.8 billion, with an annual growth rate of 15% to 32%.* This article has been translated by AI. 2026-08-07 09:44:10
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BMW Korea Launches Three Online Limited Editions in August BMW Korea announced on August 7 that it will release three online limited editions on August 11 at 3 p.m. through its online shop.This month's online limited editions feature a special selection that includes BMW's luxury sedans, flagship SAVs, and high-performance touring models, showcasing a variety of appealing designs.Each model is equipped with unique specifications tailored to its characteristics, such as BMW Individual colors, exclusive design elements, or M Performance parts, enhancing the rarity and collectible value of these limited models.The three models include the BMW 7 Series Nero Rosso Edition, the BMW X7 xDrive40d M Sport Pro Skyscraper Gray Edition, and the BMW M340i xDrive Touring Pro M Performance Parts Edition. All products will be available for purchase through BMW Korea's online sales channel, BMW Shop Online.* This article has been translated by AI. 2026-08-07 09:44:10