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  • Kazakhstan opens AI olympiad as digital push accelerates
    Kazakhstan opens AI olympiad as digital push accelerates SEOUL, August 05 (AJP) - More than 500 high school students from 106 countries began competing in Astana this week at the world's newest international science olympiad, hosted by a government that has spent the past year signing $10 billion in data center agreements and writing Central Asia's first artificial intelligence law. The third International Olympiad in Artificial Intelligence runs through August 8. The second edition, held in Beijing last year, drew 300 students from 61 countries. The first was staged in Burgas, Bulgaria, in 2024. President Kassym-Jomart Tokayev opened the competition on August 3 and used his remarks to link it to a target he set in his address to the nation last year, converting Kazakhstan into a fully digital state within three years. "We are creating a unified innovation ecosystem in which artificial intelligence serves as an important tool for managing the state, the economy, and business, permeating all spheres of public life," Tokayev said. "But this is only the beginning of all processes." He cited Kazakhstan's ranking of 24th out of 193 countries on the United Nations E-Government Development Index, a biennial assessment of how governments deliver services online. That placement comes from the survey published in 2024, built on data collected in 2022 and 2023, and the next edition has not been released. Kazakhstan also sits in the top 10 of the survey's online services measure, alongside South Korea, Denmark and Estonia. Tokayev declared 2026 the Year of Digitalization and Artificial Intelligence. In September 2025, the government created a Ministry of Artificial Intelligence and Digital Development, pulling AI out of a sub-portfolio and giving it cabinet rank. Two months later, he signed a law on artificial intelligence that took force on January 18, making Kazakhstan the first country in Central Asia with a comprehensive AI statute. It sets obligations for developers, owners and users, and hands the ministry authority over a state-run National AI Platform that routes computing power to approved sectors of the economy. The compute came online first. The Alem.Cloud supercomputer in Astana, commissioned in July 2025, runs on 512 Nvidia H200 graphics processors and ranks 86th on the TOP500 list of the world's most powerful machines. It is the largest in the region, and it trains the country's own large language models in Kazakh and Russian. In June, Kazakhstan signed agreements worth $10 billion with Nvidia and the developer Firebird to build a data center campus near Ekibastuz, targeting a cluster of 100,000 graphics processors. Freedom Holding Corp. has separately agreed to develop a $2 billion sovereign AI hub using Nvidia infrastructure. In January, Kazakhstan joined an OpenAI program that supplies 165,000 free ChatGPT Edu licenses to schoolteachers, university faculty and staff at the Astana Hub technology park. The government has set a goal of training one million people in AI skills over five years, covering students, civil servants and the existing workforce. Tokayev framed the agenda as constitutionally anchored. The country's new constitution took effect on July 1, replacing the 1995 document after a referendum in March, and Tokayev said the development course built on innovation is written into it. Kazakhstan votes on August 23 for the Kurultai, the single-chamber parliament that the constitution created. Speakers at the opening ceremony included Kai-Fu Lee, who runs the venture firm Sinovation Ventures and the model developer 01.AI, and Elena Marinova, who chairs the olympiad's international council. Kaspi.kz co-founder Mikhail Lomtadze and Freedom Holding chief executive Timur Turlov also spoke, as did Bagdat Mussin, who heads the Competitive Programming Federation of Kazakhstan and chairs Kazakhtelecom. Tokayev was walked through the competition structure and the tasks students face, and was shown an autonomous robot in operation. Contestants compete in two areas, building AI models and programming autonomous robots, with medals awarded on individual scores across two days of six-hour sessions. He closed by thanking the teachers who prepare the country's competitors. "Last year, at the Artificial Intelligence Olympiad in Beijing, Kazakhstani schoolchildren won three gold, one silver, and three bronze medals," Tokayev said. "This is an achievement of which our country is rightfully proud, and it once again confirms the enormous intellectual and creative potential of our youth." ---- AJP Takeaways ● Kassym-Jomart Tokayev opened the third International Olympiad in Artificial Intelligence in Astana on August 3, where more than 500 students from 106 countries are competing through August 8. He tied the event to his target of turning Kazakhstan into a fully digital state within three years. ● Nvidia and the developer Firebird signed agreements worth $10 billion with Kazakhstan in June to build a data center campus near Ekibastuz, targeting a cluster of 100,000 graphics processors. That deal, along with the July 2025 launch of the Alem.Cloud supercomputer, did not appear in the presidential press release on the olympiad. ● The Ministry of Artificial Intelligence and Digital Development was created in September 2025, and a law on artificial intelligence took force on January 18, making Kazakhstan the first country in Central Asia with a comprehensive AI statute. ● The United Nations ranked Kazakhstan 24th out of 193 countries on its E-Government Development Index, the figure Tokayev cited in his remarks. That placement comes from the survey published in 2024 and built on data collected in 2022 and 2023. 2026-08-05 17:36:58
  • President Lee Pledges to Honor Sacrifices of Democracy Activists
    President Lee Pledges to Honor Sacrifices of Democracy Activists President Lee Jae-myung stated on August 5 that he will not forget the sacrifices made by those who fought for democracy in South Korea. Speaking at a luncheon marking the 40th anniversary of the National Democratic Families Association (Yugahyeob) at the Blue House, he said, "I will strive to honor your hard work and sacrifices in creating and protecting democracy."During the event held in the Chungmu Hall, President Lee remarked, "Thanks to the fierce struggles of our parents, families, and many who sacrificed, South Korea is regaining and normalizing its democracy." He added, "While the world you desire and the one the victims longed for may not be perfect, I am doing my best to create it. I regret that I have not been able to do enough as intended. I will listen to your concerns and seek ways to help."Jang Nam-soo, president of Yugahyeob, called for the swift enactment of the Democracy Activists' Welfare Law and the awarding of medals to over 100 martyrs who have not yet received honors among the 136 recognized. He noted, "The law for the welfare of democracy activists has been proposed in the National Assembly for over 20 years but has yet to be finalized."Choi Jong-soon, brother of the late martyr Choi Woo-hyuk, expressed concern that key documents related to state violence might be destroyed following the disbandment of the Army's Counterintelligence Command. He urged the release of materials related to the National Intelligence Service, the National Police Agency, and counterintelligence.Many members also requested the prompt establishment of the Democracy Activists' Law, as well as the clarification of the Yongsan tragedy and the withdrawal of state appeals in military death cases.Jeong Jeong-won, mother of martyr Kim Yoon-ki, expressed gratitude, saying, "I learned late that President Lee attended my son's funeral in Seongnam in 1989 and carried his coffin."Listening attentively, President Lee promised, "I will ensure that members of Yugahyeob will not have to wander the streets again, and I will do my utmost to dismantle the tent in front of the National Assembly."Yugahyeob, formed by the families of democracy martyrs who sacrificed their lives fighting against military dictatorship in the 1970s and 1980s, is celebrating its 40th anniversary this year.* This article has been translated by AI. 2026-08-05 17:36:00
  • KOSPI rebounds above 6,500 as foreign investors return amid global chip rally
    KOSPI rebounds above 6,500 as foreign investors return amid global chip rally SEOUL, August 5 (AJP) - South Korean stocks extended their rally on Wednesday, with the benchmark KOSPI climbing back above 6,500 as foreign investors returned to the market as net buyers. The rally was further supported by strength in global semiconductor shares and easing Middle East tensions. The KOSPI closed 3.76 percent higher at 6,598.26 after rising as much as 6,674.66 intraday. The surge triggered a buy-side sidecar early in the session, while the junior KOSDAQ gained 2.42 percent to 799.59 after briefly climbing above the 800-point level for the first time in 13 trading days. Foreign investors drove the advance, purchasing a net 1.45 trillion won (US$1.04 billion) worth of KOSPI shares, while individuals and institutions sold a combined 1.47 trillion won to lock in profits following recent gains. Despite the strong buying in the cash market, foreigners remained modest net sellers of KOSPI200 futures, unloading a net 135.7 billion won. Semiconductor heavyweights once again led gains after a strong overnight rally in U.S. technology stocks. SK hynix jumped 5.77 percent to close at 1,668,000 won, while Samsung Electronics gained 2.50 percent to 246,000 won. Samsung Electro-Mechanics soared 14.43 percent to 1,356,000 won, and SK Square added 5.57 percent to 1,119,000 won as buying spread across the Artificial Intelligence (AI)-related semiconductor supply chain. Automakers also traded higher, with Hyundai Motor rising 3.06 percent to 404,500 won and Kia gaining 2.62 percent to 133,000 won. Among industrial and defense names, Samsung C&T climbed 7.75 percent to 347,500 won, HD Hyundai Heavy Industries advanced 5.38 percent to 509,000 won, Doosan Enerbility gained 5.48 percent to 77,000 won, and Hanwha Aerospace edged up 0.30 percent to 1,007,000 won. Financials and other large-cap stocks also finished higher, with Samsung Life Insurance rising 5.76 percent to 294,000 won, KB Financial adding 1.13 percent to 170,700 won, LG Energy Solution gaining 2.13 percent to 335,500 won, and Samsung Biologics inching up 1.02 percent to 1,491,000 won. Sentiment was boosted after Wall Street rallied overnight. The S&P 500 and Dow Jones Industrial Average both closed at record highs, while the Nasdaq gained 2.59 percent. The advance was fueled by optimism that the United States and Iran were nearing an agreement to reopen the Strait of Hormuz, easing concerns over global energy supplies and pushing U.S. crude oil futures down 5.7 percent. Technology shares also advanced after Advanced Micro Devices (AMD) reported better-than-expected second-quarter revenue and earnings and issued third-quarter sales guidance above market forecasts, reinforcing confidence that AI spending remains resilient. AI software company Palantir Technologies also surged 29.45 percent after reporting strong quarterly results, while Nvidia gained 2.56 percent, Micron Technology rose 7.62 percent and Intel climbed 10.84 percent. The gains pushed the Philadelphia Semiconductor Index higher and lifted semiconductor shares globally. SK hynix's U.S.-listed ADRs also advanced 8.17 percent overnight, reinforcing bullish sentiment toward South Korean chipmakers. The KOSDAQ rose for a fourth straight session, bringing its four-day gain to about 24 percent. Among major stocks, Alteogen rose 3.75 percent after announcing a 500 billion won licensing agreement with a global pharmaceutical company. Rainbow Robotics gained 3.64 percent, while Jusung Engineering and Wonik IPS climbed 5.07 percent and 1.24 percent, respectively. Optical communication stocks outperformed after reports that the United States is preparing restrictions on imports of certain Chinese-made components used in data centers. Lightron closed at the daily 30 percent limit, while Taihan Fiberoptics jumped 18.57 percent. Trading activity remained elevated, with turnover totalling 25.5 trillion won on the main board and 6.3 trillion won on the junior market. The currency market also reflected the improved sentiment. The Korean won strengthened to 1,426.50 per dollar from 1,432.50 won in the previous close. Regional markets also advanced. Japan's Nikkei 225 climbed 3.66 percent to 66,300.44, while China's Shanghai Composite gained 1.47 percent to 3,878.43 and Hong Kong's Hang Seng Index edged up 0.21 percent to 25,907.17. 2026-08-05 17:32:13
  • Lotte Rental Reports 9.6% Increase in Q2 Operating Profit
    Lotte Rental Reports 9.6% Increase in Q2 Operating Profit Lotte Rental continued its growth in the second quarter, driven by strong domestic rental car business. Despite a slowdown in the used car sales market, the expansion of high-profit long-term and short-term rentals boosted operating profit.The company announced on August 5 that its consolidated operating profit for the second quarter reached 84.6 billion won, a 9.6% increase compared to the same period last year. Revenue rose by 2.3% to 765.8 billion won.This performance is attributed to the growth of core rental businesses, including long-term and short-term rentals, an increase in the proportion of high-profit products, and cost efficiency improvements.Long-term auto rentals generated 421.5 billion won in revenue and 45.3 billion won in operating profit, marking increases of 5.1% and 25.6%, respectively. The total number of vehicles put into service during the quarter, including new and used cars, rose by 11.6% to 23,607 units.Short-term auto rentals saw revenue of 52.5 billion won and operating profit of 9.9 billion won, reflecting increases of 15.6% and 76.2%, the highest profit growth rate among all business segments.Foreign customers accounted for 37% of daily short-term rental revenue, up 7 percentage points from a year ago. Revenue per foreign customer was approximately 1.8 times that of domestic customers, contributing to improved profitability.The retail platform for used cars, T car, reported second-quarter revenue of 30.9 billion won, a significant increase of 108.8% year-on-year. Lotte Rental plans to open its fourth offline location in Busan this month, following openings in Gangseo, Seoul, and Bucheon and Yongin in Gyeonggi Province, to expand sales.However, the used car sales business faced challenges due to international circumstances and rising interest rates, with revenue declining by 2.9% to 217.1 billion won and operating profit down 21.1% to 26.4 billion won.Lotte Rental stated, "Instead of selling vehicles during a period of low market prices, we are transitioning quality vehicles into long-term and monthly short-term rental assets to enhance lifecycle profitability."The company is also expanding its overseas operations. Last month, Lotte Rental established a subsidiary in Japan and partnered with Japanese rental car company Orix Auto to launch short-term rental services for Korean tourists in Okinawa. Plans are in place to expand service areas to Sapporo and Fukuoka in the future.Choi Jin-hwan, CEO of Lotte Rental, emphasized, "With steady growth in core businesses like long-term and short-term rentals, we are continuously improving profitability centered on our rental operations. We will solidify our leading position in the domestic market based on differentiated vehicle operation capabilities and customer service competitiveness."Meanwhile, the number of registered rental cars in South Korea has surpassed 1.2 million. According to the Korea Rental Car Business Association, the number of registered rental cars in the second quarter of this year was recorded at 1,211,645, an increase of 42,510 units or 3.6% from the previous quarter's 1,169,135.* This article has been translated by AI. 2026-08-05 17:28:00
  • Korea Zinc Files Criminal Complaint Against MBK and Youngpoong Over Project Crucible
    Korea Zinc Files Criminal Complaint Against MBK and Youngpoong Over Project Crucible Korea Zinc has filed a criminal complaint against officials from MBK Partners and Youngpoong, alleging unauthorized use of the name and branding for its Project Crucible, a construction initiative for an integrated smelter in the United States. This move has intensified the ongoing management dispute between the parties.On August 5, Korea Zinc reported that it had lodged a complaint with the Jongno Police Station in Seoul against Korea Corporate Investment Holdings, Youngpoong, MBK Partners Vice Chairman Yoon Jong-ha, and Youngpoong Bookstore Holdings CEO Jang Se-hwan for violations of the Unfair Competition Prevention Act and obstruction of business.Korea Zinc claims that MBK and Youngpoong registered an internet domain combining the Project Crucible name with Tennessee in June and distributed invitations to local government officials featuring the name, causing confusion about the project's leadership. They also allege that at a local reception last month, MBK presented its investment portfolio and Youngpoong's Seokpo smelter technology, hindering Korea Zinc's business efforts.Project Crucible is a $7.4 billion (approximately 11 trillion won) construction project for an integrated smelter in Tennessee, announced by Korea Zinc in December 2022 in collaboration with the U.S. government and strategic investors.A representative from Korea Zinc stated, "MBK and Youngpoong have continuously devalued the significance of Project Crucible and attempted to obstruct its progress. Now, they are using the project name as if they are the rightful leaders, which deceives both governments, investors, and shareholders. We will hold them legally accountable for any actions that disrupt the normal advancement of the project."In response, MBK and Youngpoong argued that Project Crucible is not a trademark owned exclusively by Korea Zinc and that they merely hosted events to communicate with local stakeholders as the largest shareholders, denying any claims of impersonation or infringement of business identifiers.They further clarified that their previous request for a temporary injunction was not against the project itself but aimed at addressing concerns over management rights related to a third-party capital increase.They stated, "We did not oppose the project itself; rather, we sought to prevent illegal management defense attempts that aimed to issue new shares under the pretext of the project to increase friendly stakes. We urge Director Choi to immediately cease using the company's assets and organization for personal defense purposes."* This article has been translated by AI. 2026-08-05 17:16:10
  • Iran Proposes New Shipping Route in Strait of Hormuz
    Iran Proposes New Shipping Route in Strait of Hormuz As Iran and Oman discuss reopening the Strait of Hormuz, plans are underway to introduce a new shipping route in the middle of the strait. This initiative aims to unify the previously divided northern and southern shipping lanes operated by Iran and Oman, respectively.On August 5, Iran's state-run Press TV reported that discussions between Iran and Oman have entered a "new phase," citing a senior Iranian official who stated that the two sides are "close to an agreement." The report indicated that the current goal of the negotiations is to establish a middle corridor in the Strait of Hormuz to ensure safe navigation while protecting the rights of Iran, a coastal state. Sources explained that this new corridor would replace the existing northern and southern routes.The Strait of Hormuz, which is only 34 kilometers wide at its narrowest point, was used as an international shipping route until the outbreak of war in February. Since then, it has been divided into northern and southern lanes under a bidirectional traffic separation scheme adopted by the United Nations in 1968.However, following the outbreak of war, Iran effectively blocked the Strait and mandated that all vessels use a "new northern route" passing near Iran's Larak Island. Additionally, Iran began preparations to impose tolls on ships transiting the strait.After a ceasefire agreement was reached between the U.S. and Iran in June, the U.S. proposed an alternative southern route along the Omani coast to ensure free passage through the Strait. Iran rejected this proposal and escalated attacks on vessels, reigniting recent conflicts.Press TV described the middle corridor as a "practical and legal solution," asserting that it is not an act of aggression or blockade but rather a measure to prevent the Strait of Hormuz from being weaponized against Iran's territorial sovereignty. The report noted that the existing official routes have been located within Oman's territorial waters since 1968, but Iran has historically reacted sensitively to such agreements. However, the situation has fundamentally changed in the past five months due to concerns that U.S. military actions and regional allies could exploit these routes to attack Iran.On the previous day, Iranian Foreign Ministry spokesman Ismail Baghaei stated that negotiations between Iran and Oman are progressing positively on both technical and political levels, focusing on designating safe routes for vessels transiting the Strait. He mentioned that discussions are centered on establishing a single bidirectional route instead of multiple separate lanes.Additionally, Iran seeks control over inbound vessels and monitoring rights over outbound vessels in its discussions with Oman, according to a senior Iranian source cited by Reuters. This source indicated that the current proposal reflects the overall framework being discussed, with outbound traffic requiring prior notification and approval from Iran. The source added that Iran is unlikely to change its stance, having stepped back from its previous demand for complete control over both directions. Last month, Iran rejected Oman's proposal to equally divide the shipping routes due to security concerns.Meanwhile, Axios reported, citing sources, that the U.S. is nearing an agreement with Iran to temporarily reopen the Strait of Hormuz for 60 days without fees. In this scenario, inbound vessels would use the northern route, while outbound vessels would utilize the southern route.The middle corridor is expected to be operational after a 30-day mine-clearing operation, following the establishment of a permanent agreement between Oman and Iran regarding the Strait of Hormuz. 2026-08-05 17:16:00
  • Seouls heatwave sparks highest alert
    Seoul's heatwave sparks highest alert People enjoy the water at the Gwangnaru Hangang Park swimming pool in Seoul on Aug. 5, 2026. Seoul issued its highest-level extreme heat warning across the entire city amid sweltering temperatures. 2026-08-05 17:15:50
  • Gwangnaru pool offers respite from heat
    Gwangnaru pool offers respite from heat People enjoy the water at the Gwangnaru Hangang Park swimming pool in Seoul on Aug. 5, 2026. Seoul issued its highest-level extreme heat warning across the entire city amid sweltering temperatures. 2026-08-05 17:14:20
  • Frequent Tax Policy Changes Erode Trust in Government
    Frequent Tax Policy Changes Erode Trust in Government The government's recent decision to ease the capital gains tax for multiple homeowners has raised concerns about the predictability of tax policies. Experts warn that repeated delays and adjustments to tax implementation can lead to a wait-and-see attitude among market participants, who may hesitate to act on new announcements.According to industry sources, the temporary easing of the capital gains tax for multiple homeowners is not an isolated case. There have been numerous instances where previously announced tax policies have been reversed or postponed.A notable example is the financial investment income tax, which was originally set to take effect in 2023. However, the implementation date was pushed back to 2025 at the end of 2022. Following ongoing debates about market impact and investor burden, the tax was ultimately abolished just a month before its scheduled start in late 2024.Even tax laws that have passed through the National Assembly have been derailed right before implementation, leading to a growing perception that the government's proposed timelines are unreliable. For investors, the uncertainty surrounding tax policies can significantly alter their investment and trading strategies, prompting them to delay decisions in light of potential changes.The situation is similar for cryptocurrency taxation, which was initially slated for 2022 but has been postponed three times, now set for 2027. If a tax reform bill that excludes the cryptocurrency tax passes, taxation could begin next year, but the market remains skeptical about further delays.This pattern of uncertainty can undermine the original goals of tax policies. Even if the government aims to encourage capital movement or stabilize the real estate market through tax incentives or adjustments, a lack of trust in the sustainability of these policies may lead market participants to wait for the next set of measures rather than act immediately.Particularly in cases like selling a home, where decisions are difficult to reverse, the potential for policy changes can cause individuals to postpone their choices. Tax policies serve as a foundation for economic actors to plan investments, consumption, and asset disposals over several years, making predictability and consistency as crucial as short-term policy effects.An industry insider noted, “When implementation dates or policy details change repeatedly, economic actors begin to view policies not as fixed standards but as variables that could change again. To achieve the intended effects, policies must provide sufficient trust through consistency.”* This article has been translated by AI. 2026-08-05 17:12:00
  • Heat-Related Deaths Rise to 21 Amid Ongoing Heatwave
    Heat-Related Deaths Rise to 21 Amid Ongoing Heatwave As of August 5, the number of heat-related deaths this summer has surpassed last year's figures, with fatalities reported for four consecutive days since August 1. According to Yonhap News and the Korea Disease Control and Prevention Agency, 198 individuals sought treatment for heat-related illnesses at over 500 emergency rooms nationwide on August 4. Among them, a man in his 60s from Eumseong, North Chungcheong Province, died while working in the fields. Additionally, a death reported on August 3 was confirmed later; it involved a man in his 70s from Gyeongju, who was found in his backyard. Since the heat-related illness surveillance system began on May 15, the total number of cases has reached 2,441, with 21 deaths. Notably, this year has seen continuous fatalities since August 1, indicating ongoing heatwave impacts. A significant point of concern is the rising mortality rate despite a lower number of cases. The cumulative cases this year are about 75% of last year's total of 3,238 during the same period, yet the death toll has exceeded last year's 20. The case fatality rate has increased from 0.62% last year to 0.86% this year, highlighting the growing risks associated with heat-related illnesses. The heatwave has intensified this month, with daily reports of over 100 heat-related cases since August 1. On August 3, there were 202 cases, followed by 198 on August 4, indicating a consistent trend of around 200 patients seeking emergency care. Demographically, men account for 77.1% of the cases, while individuals aged 65 and older represent 33.8%. The data suggests that older adults, particularly those engaged in agricultural work or outdoor activities, are disproportionately affected. Among the types of heat-related illnesses, heat exhaustion accounted for 61.7%, followed by heat stroke at 16.8%, heat cramps at 11.5%, and heat syncope at 8.6%. Heat stroke is considered the most dangerous heat-related condition, as it can lead to a core body temperature exceeding 104 degrees Fahrenheit, resulting in altered consciousness, delirium, or seizures, and can be fatal without prompt medical intervention. The Korea Disease Control and Prevention Agency urges the public to stay hydrated, wear light-colored and loose-fitting clothing, and take measures to lower body temperature during the ongoing heatwave. They also recommend avoiding outdoor activities during peak sunlight hours and reducing the intake of alcohol and caffeinated beverages, which can increase the risk of dehydration. If someone exhibits symptoms of heat-related illness, they should be moved to a cool location to lower their body temperature, and if severe symptoms such as altered consciousness occur, emergency services should be contacted immediately.* This article has been translated by AI. 2026-08-05 17:08:00