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  • Netmarble Reports Q2 Revenue of 749.2 Billion Won, Operating Profit of 80.1 Billion Won
    Netmarble Reports Q2 Revenue of 749.2 Billion Won, Operating Profit of 80.1 Billion Won Netmarble continued its revenue growth in the second quarter of this year, but its operating profit declined. International sales accounted for 78% of total revenue, driving the company's performance.On August 5, Netmarble announced that it recorded a consolidated revenue of 749.2 billion won and an operating profit of 80.1 billion won for the second quarter. Revenue increased by 4.4% compared to the same period last year, while operating profit fell by 20.8%.International sales reached 580.8 billion won, representing 78% of total revenue. This marks a 13.4% increase from the previous quarter and a 22.6% increase year-over-year. The company attributed the growth in international sales to the update of 'The Seven Deadly Sins: Origin' and the initial success of the new title 'Soul: Enchant' released in June.By region, North America accounted for the largest share at 39%, followed by South Korea at 22%, Europe at 13%, Southeast Asia at 10%, Japan at 9%, and other regions at 7%.In terms of game genres, RPGs made up 42% of sales, followed by casual games at 35%, MMORPGs at 17%, and other genres at 6%, showcasing a diverse portfolio.Netmarble plans to continue its growth trajectory in the second half of the year with the release of new titles. The company is preparing to launch three new games: 'Solo Leveling: Karma', 'Shangri-La Frontier: Seven Strongest Species', and 'Project Aegis'.Kim Byung-kyu, CEO of Netmarble, stated, "We are enhancing our business competitiveness by expanding services across various platforms. In the second half, we aim to improve performance stability through advanced live services and maintain growth momentum with differentiated new releases."* This article has been translated by AI. 2026-08-05 16:08:00
  • Yoo Jae-suk Visits Bank to Pay Taxes During Filming, NTS Thanks Him
    Yoo Jae-suk Visits Bank to Pay Taxes During Filming, NTS Thanks Him Television personality Yoo Jae-suk has drawn attention after a video showed him visiting a bank to pay his taxes while filming a show. The National Tax Service (NTS) expressed gratitude in the comments section.In a recent episode of the web entertainment show 'Pung Hyang Jung' uploaded on the YouTube channel 'Ddeun Ddeun,' Yoo Jae-suk mentioned, "I couldn't go to the bank because of continuous filming," before heading to a nearby bank to ensure he paid his taxes on time.The filming took place in June, and Yoo Jae-suk needed to pay his comprehensive income tax, which was due on June 30. Although the deadline for this year's tax payment was June 1, those subject to diligent reporting were granted a one-month extension.As Yoo Jae-suk's actions gained attention, the NTS commented, "Thank you, Jae-suk, for your diligent tax payment," and encouraged others to use the mobile service 'Hand Tax' for easy, fee-free transactions if they lack time to visit a bank or tax office.They added, "We look forward to seeing you again next year as a diligent taxpayer." Yoo Jae-suk was subjected to a rigorous tax audit by the NTS in 2024, but no intentional tax evasion or issues were found, establishing him as a model taxpayer.An accountant noted that unlike many celebrities who hire tax professionals, Yoo Jae-suk uses an estimated reporting method. The accountant explained, "If he earned 10 billion won, he would pay about 2.7 billion won under regular reporting, but with his estimated reporting, he pays 4.1 billion won, which is 1.4 billion won more."* This article has been translated by AI. 2026-08-05 16:04:00
  • Government Reviews Emissions Trading Market Ahead of New Phase
    Government Reviews Emissions Trading Market Ahead of New Phase The government has begun assessing market volatility following a recent rise in emissions credit prices as it prepares for the implementation of the fourth planning period of the emissions trading system.On August 5, Jo Yong-beom, Vice Minister of the Ministry of Economy and Finance, held a meeting with private committee members of the Emissions Credit Allocation Committee to review market conditions and key risk factors ahead of the fourth planning period, which spans from 2026 to 2030.During the meeting, participants shared insights on recent trends in emissions credit prices and trading activities, discussing various domestic and international variables that could impact the market during the upcoming planning period.Additionally, they explored various measures to stabilize the trading market and enhance liquidity in anticipation of potential market volatility.A ministry official stated, "We plan to closely monitor market trends to ensure the stable operation of the emissions trading market throughout the fourth planning period based on the expert opinions presented."The official added, "We will continue our policy efforts to enhance market activation, including strengthening communication between experts and market participants and expanding trading liquidity."* This article has been translated by AI. 2026-08-05 16:00:20
  • Namwon City Accelerates Development of Manin Park
    Namwon City Accelerates Development of Manin Park Namwon City in North Jeolla Province is accelerating the development of the Manin Park project, which is being promoted as part of a regional development initiative by the Ministry of Land, Infrastructure and Transport.The city announced on the 5th that it will hold a residents' meeting at 10 a.m. on the 7th in the city hall auditorium to gather public opinions on the designation of the regional development project area and the draft of the small-scale environmental impact assessment.This meeting is part of the procedures outlined in Article 14 of the 'Act on Regional Development and Support' and Article 13 of the 'Environmental Impact Assessment Act.' It aims to explain the project's basic plan, the proposed designation of the regional development project area, and the main contents of the draft environmental impact assessment while listening to various opinions from residents.The Manin Park project aims to transform the area around the old Namwon Station, which has been underutilized for a long time, into a central urban park accessible to all citizens.With a total area of 82,635 square meters, the project is expected to cost approximately 30.4 billion won and is scheduled for completion by the end of next year.The project seeks to create a cultural and tourism hub in Namwon by establishing a memorial and historical ecological theme park connecting Manin Memorial, Namwon Fortress, and Gwanghanru Pavilion, thereby revitalizing the area and improving residents' quality of life.A city official from the Urban Planning Department stated, “Manin Park will serve as a historical and ecological space in the city, linking Namwon Fortress and Manin Memorial, where the daily lives of citizens and the history of Namwon will harmoniously coexist. We encourage active participation and interest in the residents' meeting.”* This article has been translated by AI. 2026-08-05 16:00:00
  • K-Heritage Globalization: An Jung-geuns Artifacts to be Revealed
    K-Heritage Globalization: An Jung-geun's Artifacts to be Revealed The government is accelerating the globalization of K-heritage. This includes efforts to register world heritage sites, reclaim sovereignty over cultural assets abroad, and strengthen the national heritage safety net in response to climate change. The government plans to open green spaces at key historical sites, such as the Hyeonchungsa Shrine, and introduce cultural heritage accommodation programs to provide citizens with more opportunities to enjoy national heritage.The Cultural Heritage Administration announced these initiatives in a report on its second-half plans on August 5. The focus is on enhancing the global status of K-heritage while strengthening the protection and utilization of national heritage.As a follow-up to the 'Busan Declaration' adopted by the World Heritage Committee last month, a 'Busan Forum' will be held next year to solidify sustainable leadership in global heritage policy.Efforts to register world heritage sites will also continue. In November, the 'Danwon High School 4.16 Archive' and 'Suwon Japbang and Eumsik Dimibang' will be submitted for inclusion in the Asia-Pacific regional list of world documentary heritage. In December, the government will work towards the UNESCO Intangible Cultural Heritage listing for the 'Traditional Knowledge, Techniques, and Cultural Practices of Hanji Production.'Leveraging Korea's advanced heritage preservation and restoration technologies, international cooperation will be expanded. The government will provide support for heritage preservation and management (ODA) to eight countries, including Egypt's Ramesseum Temple and Ghana's Cape Coast Castle. Joint excavations at sites like the Kultepe ruins in Turkey and underwater heritage in Vietnam and Mongolia will showcase Korea's cultural heritage preservation techniques to the world.Management of cultural heritage abroad will also be strengthened. A systematic management plan for overseas cultural sites will be established to ensure the sovereignty of Korean cultural heritage is protected. This month, the 'Ahn Jung-geun's Artifacts' will be unveiled for the first time to share its value.Additionally, a national heritage protection system will be established in preparation for climate change. Large-scale sprinklers will be pilot-installed around five major temples, including Bongjeongsa in Andong, next year. Starting in September, an 'AI-based intelligent detection system' will be introduced for 180 important cultural properties, including national treasures and treasures. A system will also be implemented to provide immediate support of up to 20 million won for damage to national heritage in areas declared as special disaster zones.Opportunities for the public to enjoy national heritage in their daily lives will be expanded. The 'Pause Project' will allow for the pilot opening of green spaces at key historical sites, such as Hyeonchungsa, starting next year. The 'K-Heritage Stay' initiative will also be launched, allowing overnight stays at cultural heritage sites. From October to November, the outdoor ginkgo space of the National Palace Museum will be opened as a wedding venue under the 'Weddings in Cultural Heritage' program.Regulatory innovations will also be pursued. The World Heritage Impact Assessment system will be enhanced to ensure harmony between preservation and development around world heritage sites, and a fast-track for regulatory approvals will be implemented to effectively support large-scale national projects.The admission fees for palaces, which have been frozen for 20 years, will be updated. After a public discussion, new admission fee standards will be announced in November, to take effect on January 1, 2027. In the first half of this year, the total number of palace visitors increased by 6% compared to the same period last year, with foreign visitors surging by 29%, highlighting the urgent need for stable funding for heritage preservation and visitor services.Heo Min, head of the Cultural Heritage Administration, stated, “Following the successful conclusion of the 48th UNESCO World Heritage Committee with international interest and participation, we will continue to spread the brand value of our national heritage worldwide in the second half of this year. We will actively pursue heritage enjoyment programs that citizens can feel and regulatory innovations.”* This article has been translated by AI. 2026-08-05 16:00:00
  • Government Boosts K-Culture with Increased Support for Major IP Development
    Government Boosts K-Culture with Increased Support for Major IP Development The South Korean government is significantly increasing support for K-content, including film, OTT, and gaming, to cultivate the K-culture industry as a new engine for economic growth. The initiative aims to develop major intellectual properties (IPs) dubbed 'golden eggs.' This includes expanding production cost support for OTT platforms and enhancing international co-productions to secure domestic IPs while accelerating the development of major games targeting the global market.The Ministry of Culture, Sports and Tourism presented these plans in a business report on August 5. The core objective is to focus on K-culture, sports, and tourism as national growth drivers, aiming to elevate South Korea to the status of an 'irreplaceable cultural powerhouse.'Minister of Culture, Sports and Tourism Choi Hwi-young stated during the report at the Blue House, "We will accelerate the rapid growth of K-culture." He announced plans to expand financial support, including loans, guarantees, and funds totaling 1.5 trillion won this year, and to strengthen strategic investments centered on global major IPs.This report emphasizes securing content IPs. The growth of Hallyu (Korean Wave) content is expected to drive exports in related industries such as beauty, food, and tourism, thereby maximizing growth effects by enhancing the competitiveness of K-content.President Lee Jae-myung also remarked, "Culture will establish itself as an industry," noting that while K-pop is a visible example, more nuanced support for the arts and culture sector is necessary.To improve the current structure where domestic content IPs are transferred to overseas OTT platforms, the government plans to expand production cost support for OTT content, encouraging domestic producers to secure IPs as a condition for assistance. This strategy aims to empower domestic producers in negotiations with global platforms and establish a stable revenue base through IP acquisition in the long term.Kim Young-soo, Vice Minister of Culture, emphasized in a pre-briefing that the current structure, which allows valuable content IP to be handed over to large overseas platforms for minimal returns, could have dire long-term consequences. He reiterated that OTT production cost support would be contingent on securing IPs. Additionally, the government will support the overseas expansion of domestic OTT platforms and improve the quality of localization, dubbing, and subtitles for global distribution.Support for the film industry will also be enhanced. The government plans to increase production support for films and expand international co-productions to broaden the foundation for overseas market entry. In September, South Korea will co-host the 'Lumiere Summit' in France, bringing together global film industry stakeholders to support the international expansion of Korean cinema.A decision on the holdback system, which establishes a waiting period between theatrical releases and OTT availability, is expected by the end of this month. The final plan will be determined after gathering industry opinions, with ongoing discussions to improve the system. In response to the financial difficulties faced by Megabox, which has entered a rehabilitation process, the government will provide operational funds to theaters, investors, and distributors to prevent negative impacts on the overall film industry.Support for developing globally competitive major games will also be prioritized. The government plans to shift its focus from supporting small and mobile games to providing up to 6 billion won per game to discover major IPs with global competitiveness.The government will also enhance performance infrastructure. Next year, it will host a large cultural event called 'Phenomenon' that encompasses K-pop, food, and beauty, while accelerating the construction of a multi-purpose dome stadium to accommodate the growing demand for K-pop performances. Plans are also underway to consider building additional mid-sized arena venues.Furthermore, the government aims to promote innovation in sports through the K-Football Innovation Committee and expand support for grassroots arts and indie content to strengthen the creative foundation for artists. In response to the AI era, the government will support the use of AI in creative fields and establish learning data, along with preparing a standard contract for AI learning data soon.President Lee Jae-myung suggested considering a public budget application process for the arts and sports sectors, stating, "In the arts and culture sector, there are clear limits to how much providers can brainstorm budget allocations. I hope the process involves weighing priorities and making selections based on importance." 2026-08-05 15:56:00
  • South Korea Considers Introducing Written and Essay Evaluations in College Entrance Exam
    South Korea Considers Introducing Written and Essay Evaluations in College Entrance Exam The National Education Commission is actively considering the introduction of written and essay evaluations in the College Scholastic Ability Test (CSAT) to align with the demands of the AI era. Discussions are also underway regarding a significant overhaul of the college entrance system, including a shift to absolute grading for high school transcripts and the CSAT to alleviate intense competition among students. The Ministry of Education has launched the 'Creating 10 Seoul National Universities' project to foster regional national universities, signaling a major educational transformation. On August 5, President Lee Jae-myung held a joint ministry report at the Blue House with the Ministry of Education, the National Education Commission, the Ministry of Culture, Sports and Tourism, and the Cultural Heritage Administration. In his opening remarks, President Lee noted, "It has been about a year since we took office, and while we have achieved some results, there is still much work ahead." He emphasized the need for swift discussions and tangible outcomes as the meeting commenced.National Education Commission to Engage Public on College Entrance Exam ReformsA key topic was the announcement by National Education Commission Chairperson Cha Jeong-in regarding the establishment of a 'National Education Development Plan' for 2028-2037. The commission aims to move away from the current education model focused on rote memorization, proposing a fundamental innovation in teaching and evaluation methods to encourage students to explore the essence of subjects and think creatively. Chairperson Cha identified 'mid- to long-term college entrance system reform' as a central focus. The special committee on college admission systems under the commission is actively considering expanding written and essay evaluations in middle and high schools, as well as introducing them into the CSAT. In addition to this groundbreaking shift in evaluation methods, the commission is also exploring the transition of high school transcripts and the CSAT to absolute grading to reduce fierce competition among peers. Discussions are also reportedly underway to adjust the timing of college admissions to normalize the academic operations of third-year high school students. Chairperson Cha emphasized that such impactful reforms will not be implemented unilaterally but will involve public deliberation and consensus-building. Plans include regional discussions, in-depth discussions by a public participation committee, and online feedback from citizens, with the possibility of forming a representative citizen participation group for public surveys if necessary. Cha stated, "A new educational nation will take responsibility for education, ensuring the right to learn for every citizen, and transforming the vitality of learning into a driving force for national development." He added that the commission aims to expand the concept of talent to all areas that create social value and support individuals in realizing their potential. The commission plans to announce a draft of the National Education Development Plan by the end of October, following extensive public feedback, with final approval expected by the end of March next year.Ministry of Education Launches Key Initiatives for Regional DevelopmentFollowing this, Education Minister Choi Kyo-jin reported on the ministry's initiatives under the goal of 'Education for Everyone's Future, an Indispensable Talent Nation.' He outlined five key areas and ten major tasks. The first initiative is the launch of the 'Creating 10 Seoul National Universities' project to promote regional balanced development. The ministry plans to quickly select three regional national universities for focused support in growth engines and AI fields, while significantly increasing financial investment in all regional national universities. To attract talented youth to rural areas, the ministry will substantially increase national scholarships for students at regional national universities and reform regional talent scholarships. The ministry is also accelerating talent development in preparation for the future AI era. It will establish 'AI Advanced Research Classes' in all gifted schools and science high schools nationwide, collaborating with universities and businesses, and will reform existing R&D support from a personal project focus to a university-centered research ecosystem. This aims to create a comprehensive support system from undergraduate to postdoctoral researchers. Additionally, the ministry is focusing on enhancing 'basic competencies' at the national level. Starting in 2027, the existing basic literacy assessment will be expanded to cover overall literacy, and the number of specialized teachers will be increased. Furthermore, free education and childcare for infants will be extended to age three, with plans to achieve the integration of early childhood education and care during the term to eliminate educational disparities from the outset. Minister Choi stated, "It is the foundation of education to firmly support all citizens in dreaming of the future," and pledged to execute the key initiatives reported to the public and the president with urgency, aiming for a leap toward becoming an indispensable talent nation through education.* This article has been translated by AI. 2026-08-05 15:48:00
  • IPARK Hyundai Industrial Development Expands Mixed-Use Projects in Seoul
    IPARK Hyundai Industrial Development Expands Mixed-Use Projects in Seoul IPARK Hyundai Industrial Development is expanding its mixed-use development projects centered around Seoul One. The company is applying the development and operational experience gained from the Yongsan IPARK Mall to large-scale projects. However, it faces the challenge of securing tenants for hotels and commercial facilities, as well as achieving operational profits beyond residential sales.According to the construction industry on August 5, IPARK Hyundai Industrial Development is pursuing or participating in mixed-use development projects, including Seoul One, the Yongsan Railway Hospital site, and the Bokjeong Station area, as well as the Cheongna Medical Complex Town and Jamsil Sports and MICE. Recently, the company has also been considering data center development utilizing remaining sites in Tongyeong and Incheon Port.The company's participation varies by project. The Seoul One and Yongsan Railway Hospital sites are closer to self-development projects, while the Jamsil Sports and MICE project is a consortium participation. The Yongsan Maintenance Depot Zone 1 is a contracted project where the company is involved as a construction contractor.A company official stated, “We are promoting self-development projects centered around the Development and Operations Headquarters and plan to continuously review projects that can create regional synergies, including Seoul One.”Seoul One is a key project that will gauge the company's development and operational strategy. The project, covering approximately 150,000 square meters around Gwangwoon University Station in Seoul, aims to create around 3,000 residential units, a hotel, office and commercial facilities, a health check-up center, and educational facilities, with a total investment of about 4 trillion won. The first phase, the Seoul One IPARK, consists of 1,856 units.The company plans to differentiate Seoul One from typical self-development projects that focus solely on residential construction and sales. It aims to integrate residential, shopping, hotel, office, and health management functions into a single living area while participating in the development and operation of some non-residential facilities to secure profits after completion.The experience gained from developing and operating the Yongsan IPARK Mall has laid the foundation for this project. The company is incorporating its experience in combining railway and transportation infrastructure with commercial facilities into the facility composition and operational plans for Seoul One. It is also exploring ways to collaborate with its hotel, resort, and retail affiliates within the group.At the Yongsan Railway Hospital site, the company is transforming the existing hospital building into the Yongsan History Museum while developing a residential complex with up to 34 floors and 685 units. At the Yongsan Maintenance Depot Zone 1, where it secured construction rights last year, the company plans to build 780 residential units and 651 officetels, along with office and commercial facilities.This approach aligns with the construction industry's trend of moving away from a profit structure centered on contracted work to expanding self-development and non-residential sectors. Mixed-use development allows for participation in site discovery, planning, financing, permitting, construction, and operation, potentially yielding higher profits than simple construction gains.However, this also comes with significant risks. The long-term investment in land and construction costs, along with the need to secure tenants for non-residential facilities such as hotels and commercial spaces, will determine the overall profitability of the projects. Delays or a downturn in the real estate market could increase project financing costs and the burden on equity capital.The effects of expanding self-development have already been reflected in recent performance. In the second quarter of this year, IPARK Hyundai Industrial Development reported consolidated revenues of 914.6 billion won and operating profits of 122.7 billion won, marking increases of 35.7% and 53.1%, respectively, from the previous quarter. The company attributed the rise in profitability to the ramp-up of self-development projects like Seoul One and improvements in cost ratios.However, it is difficult to assess the success of Seoul One solely based on residential sales. The level of tenant acquisition for hotels, shopping malls, and office facilities, as well as the operational management and project financing structure, must be clarified to confirm the actual success of the mixed-use development.Song Seung-hyun, CEO of Urban and Economy, noted, “Developer projects can create higher added value than simple contracts, but they require significant capital investment over a long period. If projects are delayed or sales and operational results fall short of expectations, financial burdens can increase, necessitating management of both project performance and operational profits.”Industry experts believe that the contracts for non-residential facilities, operational plans, and project financing structure will determine the success of Seoul One. Securing stable operational profits will provide a foundation for expanding subsequent mixed-use developments, but if funding or non-residential operations falter, the burdens of large-scale self-development projects may become more pronounced.* This article has been translated by AI. 2026-08-05 15:40:10
  • Criminal Procedure Law Amendment Passed Amid Ongoing Criticism
    Criminal Procedure Law Amendment Passed Amid Ongoing Criticism The amendment to the Criminal Procedure Law, which abolishes the prosecution's investigative powers, was approved at a Cabinet meeting the previous day. However, criticism continues to emerge from the legal and academic communities. There are speculations that the amendment will undergo conflict of authority adjudication and constitutional complaints at the Constitutional Court, but legal experts believe the chances of it being upheld are low.On August 5, Park Chan-woon, a professor at Hanyang University Law School and former chair of the advisory committee for the Prime Minister's Office's Prosecutorial Reform Promotion Team, expressed on Facebook, "The Criminal Procedure Law has been amended despite widespread opposition and concerns. It is difficult to predict how our criminal justice system will navigate the challenging obstacles ahead." Kim Ye-won, a lawyer at the Disability Rights Law Center, also pointed out, "There are many provisions in the amended law that are simply unfeasible."As criticism of the amendment continues, some in the political and legal circles are raising the possibility of conflict of authority adjudication and constitutional complaints at the Constitutional Court.The People Power Party has stated it will consider options for conflict of authority adjudication and constitutional complaints. Additionally, Park Young-jin, a research fellow at the Judicial Research and Training Institute, argued on the internal prosecutor network, "The Supreme Prosecutors' Office should file for conflict of authority adjudication regarding the amended Criminal Procedure Law."A significant point of contention is the removal of the prosecution's right to request warrants. According to the amendment, prosecutors are prohibited from independently requesting arrest, detention, or search warrants and can only submit warrants requested by investigative agencies like the police to the court. In contrast, Articles 12 and 16 of the Constitution stipulate that these warrants should be issued upon the prosecutor's request.Critics also argue that the provision allowing courts to dismiss charges without substantive judgment in cases of serious violations during investigations or abuse of prosecutorial discretion is arbitrary and vague.There are analyses suggesting that conflict of authority adjudications and constitutional complaints will be filed by frontline prosecutors and the public regarding the constitutionality of the amendment. Professor Park noted that after the amendment passed the National Assembly on July 31, "Many prosecutors may seek conflict of authority adjudication at the Constitutional Court, while ordinary citizens might file constitutional complaints to contest its constitutionality."However, while conflict of authority adjudications and constitutional complaints may be directed to the Constitutional Court, the likelihood of them being upheld remains uncertain. A former prosecutor turned lawyer stated in a conversation with Aju Business Daily, "Conflict of authority is within the legislative domain, making it challenging, and while constitutional complaints can be filed on the grounds of infringement of the right to pursue happiness, equality, and the right to a fair trial, it will be difficult to gain recognition for these claims."The Constitutional Court has previously rejected conflict of authority adjudications and constitutional complaints. Last year, Kim Seong-hoon, a chief prosecutor at the Cheongju District Prosecutors' Office, filed a constitutional complaint against a government organization law amendment aimed at abolishing the prosecution, but the court dismissed it in February, citing a lack of potential infringement on fundamental rights.The Constitutional Court also dismissed conflict of authority claims made by the Ministry of Justice and the prosecution regarding the 'prosecution's investigative powers' legislation during the Moon Jae-in administration, stating, "Determining the allocation of investigative and prosecutorial powers is a matter for the National Assembly to decide through legislation." The court viewed the prosecutor's right to request warrants not as a direct grant of investigative powers but as a means for a legal expert, the prosecutor, to rationally control the coercive investigations of other investigative agencies.However, there are expectations that the assessment of this amendment may differ from that of the previous 'prosecution's investigative powers' legislation. The Constitutional Court previously noted that the amendment did not restrict the prosecutor's right to request warrants, while this new amendment eliminates the provision for direct warrant requests by prosecutors, raising concerns about its constitutionality.* This article has been translated by AI. 2026-08-05 15:40:10
  • Ministry of Interior Holds Briefing Ahead of Major Crime Investigation Agency Launch
    Ministry of Interior Holds Briefing Ahead of Major Crime Investigation Agency Launch The South Korean government has approved a revision to the Criminal Procedure Act that will completely abolish the direct and supplementary investigation rights of prosecutors. This change, which was passed by the National Assembly and approved by the Cabinet on August 4, will centralize investigative authority with the police, allowing prosecutors to focus solely on prosecution. The revised law will take effect on October 2.As the Major Crime Investigation Agency (MCIA) prepares for its official launch in October, the Ministry of Interior and Safety has begun a series of briefings for prosecutors. Starting on August 5 at the Busan District Prosecutor's Office, the ministry will hold sessions at 18 local prosecutor's offices across the country, including those in Jeju, Changwon, and Gwangju, until August 12.The briefing in Busan was divided into two sessions based on the audience: one for prosecutors in a conference room on the 13th floor and another for investigators and general staff on the 2nd floor. According to ministry officials, the session included a detailed 40-minute presentation on the agency's organizational structure, personnel criteria, budget, and office plans, followed by a Q&A session with attendees.However, the ministry conducted the initial briefing in Busan behind closed doors, restricting access to the press to ensure security. Following the Cabinet's approval of the revision, the ministry held a briefing at the Government Seoul Building, announcing that the MCIA will consist of a headquarters and six regional offices, with a total staff of 2,874, including 2,567 investigators (89.3%) and 307 general staff (10.7%).Notably, prosecutors transitioning to the MCIA will be classified based on their years of service, with those under ten years receiving a Grade 4 position, those with ten or more years a Grade 3 position, and district chief prosecutors a Grade 1 position. However, this change effectively downgrades the rank of many prosecutors, raising questions about whether they will be willing to make the switch. Additionally, the compensation structure is expected to differ significantly from that of the current prosecutor's office, leading to early signs of reluctance among current prosecutors.One former prosecutor, now a lawyer, told Aju Economy that a colleague at the Busan District Prosecutor's Office expressed a complete lack of interest in the MCIA, stating they were unaware of the briefing. The lawyer noted, "I haven't heard of any prosecutors planning to join the MCIA. When I asked how disinterested they were, they said they didn't even know who attended the briefing."Another former chief prosecutor commented, "For prosecutors to move to the MCIA, there needs to be some incentive. With lower ranks and less favorable conditions, it’s hard to see why anyone would want to make the switch. However, those who are committed to continuing in investigations might consider moving, but it seems more likely they would do so to build their careers before transitioning to private practice after a few years." He added that many of his junior colleagues are more focused on whether to resign than on moving to the MCIA, indicating a lack of serious consideration about the transition.* This article has been translated by AI. 2026-08-05 15:40:00