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Financial Commission Refutes Bloomberg Column on South Korea's Investment Climate The Financial Services Commission (FSC) has strongly refuted a Bloomberg column titled "South Korea Is Becoming Uninvestable, Too," which cited inaccurate statistics.On August 4, the FSC released a statement asserting, "Given that South Korea is emerging as an indispensable supply chain and investment destination in the global AI market, there is no basis for concerns about being classified as an uninvestable country based on unclear figures."In the column, Bloomberg opinion columnist Shuli Ren referenced the recent sharp decline in the KOSPI and the government's policy responses, suggesting that even those who still believe in the global AI industry's boom might distance themselves from the KOSPI. Ren raised concerns about South Korea being an unsuitable market for investment.The column claimed that single-stock leverage products had increased market volatility and that government policy decisions had led to significant losses for individual investors.In response, the FSC pointed out that some statistics cited in the column appear to be inconsistent with the facts and lack verified sources. A notable example was the claim that "approximately 360,000 accounts experienced forced liquidation." The FSC clarified that the average number of accounts involved in forced liquidation (margin calls) was about 3,000 per day in June, contradicting the cited figure of 360,000.The FSC emphasized that the fundamentals of the domestic stock market remain robust. According to the FSC, South Korea's GDP growth rate for the second quarter of this year was 3.7% compared to the same period last year, and the current account surplus in May reached a record high of $38.61 billion.Expectations for the AI and semiconductor industries have also improved the earnings outlook for listed companies. Based on estimates from FnGuide, the projected operating profit for KOSPI-listed companies increased from 644 trillion won at the end of March to 930 trillion won by June 22, and further to 975 trillion won by the end of July, reaching 978 trillion won as of today.The FSC assessed that the recent volatility in the stock market resulted from multiple factors and noted signs of recovery in investor sentiment.The commission stated, "The government is committed to maintaining a stable market environment" and is actively working to stabilize single-stock leverage products, which have raised recent concerns, through supplementary measures to manage volatility.Indeed, trading volume for single-stock leverage products has significantly decreased following the implementation of increased deposit requirements. On August 4, trading volume was 1.3 trillion won, a sharp decline from 12.4 trillion won on July 30, prior to the deposit increase, and from a peak of 19.4 trillion won on June 25.The FSC concluded, "While managing short-term volatility, we plan to consistently pursue improvements in the capital market's resilience and growth potential."* This article has been translated by AI. 2026-08-04 22:56:00 -
President Lee Calls for Regulation of High Delivery App Fees 李 대통령 "배달앱 과도한 수수료, 권한 활용해 적절히 통제해야"이재명 대통령이 4일 배달 애플리케이션(앱) 수수료 상한제를 두고 "독점에 따른 과도한 수수료는 권한을 가지고 적절히 통제해보라"고 밝혔다.이 대통령은 이날 오후 청와대에서 열린 공정거래위원회 업무보고에서 "배달앱 수수료를 내고 나면 정산금이 절반 수준밖에 남지 않는다"는 한 자영업자의 건의에 이같이 답했다.그러면서 "수수료 통제를 (정부가) 직접 해보면 어떻겠느냐는 것인데 그건 현실적으로 쉽지는 않다"고 말했다.이 대통령은 경기지사 시절을 언급하며 "공공 배달앱을 만들어 민간과의 경쟁을 통해 마음대로 못 하게 하려고 시도했었다. 퇴임 이후 그 배달앱에 대한 재정 지원이 줄어들면서 사실상 없어지다시피 해버린 것 같다"고 했다.이어 "(공공 부문이 민간에) 지원하든지 해서 경쟁 체제를 유지해야 되지 않나 생각하고 있다"고 덧붙였다. '이흥구 후임' 대법관 후보 압축…김문관·김성수·김예영·김정중이흥구 대법관 후임 후보가 김문관(62·사법연수원 23기) 부산지방법원장, 김성수(58·24기) 서울고법 부장판사, 김예영(51·30기) 서울남부지법 부장판사, 김정중(60·26기) 광주지법 부장판사 등 4명으로 압축됐다.4일 대법관후보추천위원회는 전체회의를 열고 대법관 후보 28명 가운데 이들 4명을 조희대 대법원장에게 제청 후보로 추천했다고 밝혔다.조 대법원장은 후보들의 주요 판결과 업무 경력 등을 공개한 뒤 오는 7일까지 의견을 수렴해 최종 후보 1명을 선정한다. 이후 이재명 대통령에게 임명을 제청할 예정이다.다만 지난 3월 퇴임한 노태악 전 대법관 후임 제청이 아직 이뤄지지 않은 만큼 두 자리를 함께 제청할 가능성도 제기된다.日정부, 구마모토 지진 '특별재해' 지정 추진…복구 지원 확대일본 정부가 지난달 28일 발생한 규슈 구마모토 지진 피해 지역을 '격심재해'(특별재해)로 지정하는 방안을 추진한다.4일 연합뉴스에 따르면 교도통신은 오는 7일 각의(국務회의)에서 구마모토 지진을 격심재해로 지정하는 방안을 확정할 예정이라고 정부 고위 당국자를 인용해 보도했다. 격심재해로 지정되면 지방자치단체에 대한 지방교부세 지원 비율을 확대할 수 있으며 예비비를 활용한 복구비도 신속하게 집행할 수 있다.재난안전전광판 기온 정보 오류…폭염 속 시민들 '혼란'서울에 사상 첫 폭염중대경보가 발효된 4일 서울 시내 일부 재난안전 전광판에 실제보다 낮은 기온이 표시되는 오류가 발생했다. 서울시와 자치구 등에 따르면 이날 서울 시내 주요 지점에 설치된 재난안전 전광판의 실시간 기온 정보가 실제와 다르게 표출되면서 관련 민원이 잇따랐다. 오후 4시께 마포구 홍대거리 등 5곳의 전광판에는 현재 기온이 '30도'로, 서대문구 일부 전광판에는 '27도'로 표시됐다. 이날 서울에는 최고기온 39도 이상이 예상돼 폭염중대경보가 내려진 상황이어서 실제 체감과 큰 차이를 보인 것으로 나타났다.* This article has been translated by AI. 2026-08-04 22:48:00
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Leverage Investment Frenzy Leaves Newlyweds and Young Investors in Debt The reality of young investors hit hard by the leverage investment frenzy sweeping South Korea's stock market is being revealed.An episode of MBC's 'PD Notebook' airing on August 4 focuses on the high-risk investments made by the 2030 generation amid a volatile stock market characterized by rapid rises and falls.In the first half of 2026, the domestic stock market experienced unprecedented investment enthusiasm. During this period, 40% of the 10 new stock accounts opened were attributed to the 2030 generation. As young people emerged as key players in the domestic stock market, investments that were once seen as a ladder for upward mobility turned into burdens of debt and losses for many.This year, the KOSPI index surpassed 9,000 points, and the number of domestic stock trading accounts exceeded 100 million. Among the products that fueled this investment frenzy were leverage products that track the daily returns of individual stocks like Samsung Electronics and SK Hynix at double the rate.The so-called 'Samsung and Hynix' double-leverage product, launched in May, recorded approximately 28 trillion won in trading volume within just three days of its release. This surge was driven by individual investors seeking high returns with minimal investment.However, because leverage products are structured to multiply the daily fluctuations of their underlying assets, losses can also be magnified. When the market experiences repeated ups and downs, the cumulative returns can diverge from the simple volatility of the underlying asset, leading to a phenomenon known as 'negative compounding' where the principal quickly diminishes.In June and July, when the KOSPI plummeted from 9,000 to 6,000 points, related leverage products fell by an average of over 60%, with some dropping as much as 80%. The market's volatility was so extreme that sidecars and circuit breakers were triggered more than 30 times in just two months.Lee Chan-jin, head of the Financial Supervisory Service, stated regarding the risks of these products, "We should have done everything possible to prevent this," indicating that institutional responses were insufficient.'PD Notebook' reports that the impact of this investment frenzy has disproportionately affected young investors with limited experience and capital. In an environment where it is difficult to secure housing and build assets solely through earned income, leverage investing was perceived as a last chance.The program features the story of a 20-something groom-to-be, identified as A, who lost 180 million won after investing in leverage products to fund his new home. It also covers the case of a 30-something college student, B, who took on 12 million won in debt from student loans and credit cards after trying to invest while focusing on his studies.For these individuals, investment failures extended beyond mere account losses. Their plans for marriage, education, and employment were disrupted, leading to increased debt burdens and psychological stress.Success stories of investments shared on social media and online platforms have also been identified as factors that fueled young people's impatience. The fear of missing out (FOMO) led many to engage in high-risk investments, believing that everyone else was profiting while they were missing opportunities.The issue of unqualified investment YouTubers and illegal stock advisory groups is also highlighted. In mid-July, an incident occurred where a member in their 20s attacked the leader of an advisory group after suffering investment losses.This advisory group reportedly charged an annual fee of 5.8 million won and encouraged members to "sell everything except their underwear to buy leverage." The broadcast will investigate how indiscriminate investment recommendations and high-fee groups exacerbated investors' anxiety and losses.The lack of financial education is also addressed as a major cause. Young people who did not receive systematic financial education at school or home have become reliant on fragmented information from social media and YouTube, exposing them to high-risk products.John Lee, former CEO of Meritz Asset Management, pointed out that the absence of financial education is to blame, stating, "There has been no place to teach the risks of leverage investing, so young people have no choice but to feel anxious, and the more anxious they are, the more risky choices they make."A survey conducted by Korea Investment & Securities in 2024 found that 41% of respondents among college student investors reported obtaining investment information through new media channels like social media and YouTube.'PD Notebook' will also address what criteria investors should consider when contemplating investments in a market characterized by ongoing volatility and what principles are necessary for assessing high-risk products.The episode 'Buying Risk: Leverage and Young People' will air today, August 4, at 10:20 PM.* This article has been translated by AI. 2026-08-04 21:56:00
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Japanese Government Moves to Designate Kumamoto Earthquake as Special Disaster The Japanese government is moving to designate the areas affected by the Kumamoto earthquake in Kyushu, which occurred on July 28, as a 'severe disaster' (special disaster).According to Yonhap News on August 4, Kyodo News reported that the Cabinet is expected to finalize the designation of the Kumamoto earthquake as a severe disaster during its meeting on August 7, citing a senior government official.Being designated as a severe disaster will allow for an increase in the allocation of local government grants and enable quicker disbursement of recovery funds using reserve funds.In this regard, Sanae Takaichi, the Minister for Internal Affairs and Communications, visited the affected areas on August 3 and stated the government's intention to secure sufficient budget for necessary expenses.Takaichi announced that 20 billion yen (approximately $181 million) will be allocated for recovery efforts and that the government plans to designate the situation as a 'specific emergency disaster,' which would allow for special administrative procedures.If designated as a specific emergency disaster, bankruptcy proceedings would be temporarily suspended, and individuals would be exempt from legal obligations, such as submitting various documents, if they are unable to meet deadlines.Meanwhile, the Japanese government decided during the Cabinet meeting to urgently allocate approximately 24.2 billion yen (about $210 million) from this year's budget reserves for recovery costs related to the Kumamoto earthquake.Of this reserve, 2.4 billion yen will be allocated for 'push-type support,' which allows the government to supply water, food, and portable air conditioners to evacuation centers without requests from affected local governments. Additionally, 1.2 billion yen will be allocated for temporary housing installation costs, and 20.6 billion yen will be designated for road repairs.* This article has been translated by AI. 2026-08-04 21:28:00
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Seongnam Mayor Shin Sang-jin Emphasizes Importance of Protecting Residents' Living Conditions and Property Rights Shin Sang-jin, the mayor of Seongnam, officially opposed the plan for the Yongin-Seongnam Expressway, which is being promoted by the Ministry of Land, Infrastructure and Transport, to pass under the Saetbyeol Village apartment complex in the Bundang leading district on August 4. Mayor Shin stated, "Protecting citizens' living conditions and property rights is of utmost importance." He plans to actively propose to the Ministry and project implementers the consideration of an alternative route that bypasses Saetbyeol Village, prioritizing the stable advancement of the reconstruction project in the Bundang leading district and the protection of residents' living conditions and property rights. The currently reviewed plan involves a deep tunnel passing beneath Saetbyeol Village, raising concerns among residents about noise, vibration, and dust during construction, as well as the impact of construction vehicle traffic and future ventilation installations on their living environment. In particular, as Saetbyeol Village is a leading district for the first-phase new town reconstruction, there are growing concerns that the highway plan could affect the reconstruction schedule, project viability, and safety of the complex. Residents of Saetbyeol Village are particularly worried that the highway passing beneath their complex could negatively impact the reconstruction project's viability and safety, as well as their living environment. Local residents have expressed their concerns, stating, "It is hard to accept that a highway would pass under a complex that is about to undergo reconstruction," and they worry about the deterioration of their living environment due to noise, vibration, dust, and future ventilation facility installations. They are calling for an alternative route that adequately reflects residents' opinions. One resident remarked, "The very idea of a highway passing under a complex that is about to be reconstructed is unsettling," adding, "An alternative route must be considered for both safety and project viability." In response, Mayor Shin plans to submit an official opposition opinion regarding the route passing under Saetbyeol Village during the strategic environmental impact assessment draft review process and to actively ensure that residents' opinions are adequately reflected. Additionally, Mayor Shin Sang-jin stated, "I will continue to actively respond to ensure that an alternative route bypassing the apartment complex is considered, fully reflecting the unique circumstances of the area and residents' concerns regarding the upcoming reconstruction." 2026-08-04 21:16:20
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President Lee Calls for Regulation of Delivery App Fees President Lee Jae-myung stated that excessive fees charged by delivery applications should be appropriately regulated using government authority. He made these comments during a report on the Fair Trade Commission's activities at the Blue House on August 4.In response to a suggestion from a small business owner who noted that only half of the payment remains after delivery app fees, President Lee said, "We should consider whether the government can directly control these fees, although that may not be practically easy."Reflecting on his time as governor of Gyeonggi Province, he mentioned efforts to create a public delivery app to foster competition with private companies. He noted that after leaving office, financial support for that app diminished, leading to its near disappearance. He added, "I believe the public sector should either support or maintain a competitive system with the private sector."President Lee also commented on the recent acquisition of Delivery Hero, the parent company of Baedal Minjok, by the global delivery platform Uber, stating, "The delivery app market has become monopolized to an incomparable degree, and there are issues where efficiency increases with monopolization."Additionally, he praised the Fair Trade Commission for its recent efforts in cracking down on collusion and hoarding, saying, "It seems that the Commission is effectively fulfilling its role as the economic prosecutor. I urge you to keep a vigilant eye to ensure that no one can even dream of gaining unfair profits through collusion or abnormal transactions."* This article has been translated by AI. 2026-08-04 20:48:00
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Gwacheon City Launches Online Voting for Local Restaurant Selection Gwacheon City in Gyeonggi Province is conducting online voting from August 4 to 20 for its '3rd Gwacheon City Restaurant Selection Contest,' aimed at enhancing the competitiveness of local eateries and discovering unique culinary offerings. According to the city on August 4, the voting will feature five finalists selected through document review, hygiene assessments, and mystery shopper evaluations. The finalists include Geun-don (three-flavor jokbal), Gwacheon Aebori-bap (tulleki sujebi), Manchun (special sirloin katsu set), Sangwol (Hanwoo & pork hamburger set), and Poetic (Crete). Citizens can vote for one of the nominated restaurants using a QR code provided on the Gwacheon City website and official blog. The results of the online voting will account for 20% of the final evaluation score, and 100 participants will be randomly selected to receive mobile gift certificates. In addition to the online voting, the city is also recruiting citizen evaluators to participate in the final competition. Selected evaluators will taste and assess the nominated dishes on-site, while stakeholders will be excluded to ensure fairness in the evaluation process. The final results will be determined by combining expert evaluations (60%), citizen on-site assessments (20%), and online voting (20%). The judging criteria will include taste, presentation, menu uniqueness, and regional representation. Restaurants selected will receive various support, including official city promotion and opportunities to participate in local festivals. As online voting begins, local residents are showing increased interest. Citizens can check information about the nominated restaurants on the Gwacheon City website and official blog and can also apply to be on-site evaluators. The city plans to reflect citizen opinions in the final evaluation to select a restaurant that represents the region. Meanwhile, Mayor Shin Gye-yong stated, "We plan to select a restaurant that represents the region by incorporating citizen feedback and enhancing the competitiveness of local dining," urging citizens to participate and show their interest.* This article has been translated by AI. 2026-08-04 20:32:00
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Gunpo Mayor Han Dae-hee: Outstanding Award Reflects Citizens' Commitment to Tax Compliance Han Dae-hee, the mayor of Gunpo, expressed on August 4 that the Outstanding Award received in the Gyeonggi Province's special tax collection evaluation is a valuable achievement made by diligent taxpayers and public officials working together.Mayor Han announced that Gunpo secured the Outstanding Award in the '2026 First Half Special Tax Collection Evaluation' conducted by Gyeonggi Province, along with a funding of 14 million won for collection activities.His administration's commitment to 'fair and inclusive tax administration' has once again proven its effectiveness, achieving top results in the provincial evaluation.The evaluation categorized the 31 cities and counties in Gyeonggi Province into five groups based on the amount of delinquent taxes, assessing 20 detailed indicators including tax collection performance, enforcement actions, and on-site collection activities. Gunpo was recognized for its excellent performance across all areas.In particular, Mayor Han emphasized a tax administration principle of 'protecting diligent taxpayers while responding firmly to intentional delinquents.' His administration has tracked and seized real estate, financial assets, and even virtual assets from high-value and habitual delinquents, implementing rigorous enforcement actions such as home searches.Conversely, for low-income taxpayers facing economic difficulties, the administration has provided tailored installment payment options and deferred enforcement actions, offering practical opportunities for recovery.This dual-track collection strategy, combining principles and consideration, resulted in the collection of 5 billion won in delinquent local taxes in the first half of the year, earning recognition for both fairness and effectiveness, culminating in Gunpo being named the top institution in Gyeonggi Province.Mayor Han plans to reinvest the 14 million won reward into expanding delinquent taxpayer surveys, discovering new collection techniques, and enhancing administrative capabilities to increase self-generated revenue.Locally, residents have expressed positive feedback, stating, 'An administration that respects diligent taxpayers is taking root,' and 'The balanced policy of responding strictly to intentional delinquents while considering those in need is impressive.' They also anticipate a virtuous cycle where secured resources are reinvested into citizen-focused administration.Additionally, citizens have voiced hopes that 'fair tax administration will ultimately serve as the foundation for regional development,' and 'I hope the recognition of diligent taxpayers continues to expand.'Mayor Han added, 'In the future, I will continue to enhance citizen trust through fair tax administration that respects diligent taxpayers and upholds tax justice.'* This article has been translated by AI. 2026-08-04 20:16:00
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Candidates Narrowed for Supreme Court Justice Position Following Lee Heung-gu Four candidates have been shortlisted to succeed Supreme Court Justice Lee Heung-gu: Kim Moon-kwan (62, Judicial Research and Training Institute 23rd class), Kim Sung-soo (58, 24th class), Kim Ye-young (51, 30th class), and Kim Jeong-jung (60, 26th class).On August 4, the Supreme Court Justice Candidate Recommendation Committee held a meeting and recommended these four candidates to Chief Justice Cho Hee-dae from a pool of 28 candidates.Chief Justice Cho plans to review the candidates' key rulings and professional backgrounds and will gather opinions until August 7 to select one final candidate. This candidate will then be recommended for appointment to President Lee Jae-myung.However, since a successor for former Justice Noh Tae-ack, who retired in March, has not yet been recommended, there is speculation that both positions may be filled simultaneously.During the meeting with the recommendation committee, Chief Justice Cho expressed, "I apologize for not finalizing the previous recommendation yet, but I will work to complete it well moving forward." Legal circles interpret this statement as suggesting the possibility of recommending two Supreme Court candidates at once.Earlier, the committee for recommending a successor to former Justice Noh had proposed four candidates in January: Kim Min-ki, Park Soon-young, Son Bong-ki, and Yoon Sung-sik, all judges at the Seoul High Court and Daegu District Court. However, due to disagreements between the presidential office and the judiciary regarding the final candidate, the recommendation has been delayed for over six months.Meanwhile, Justice Lee is set to retire on September 7.* This article has been translated by AI. 2026-08-04 19:56:00
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Korea Southern Power Prepares for Record Electricity Demand with AI and Integrated Response Korea Southern Power has initiated comprehensive equipment inspections and emergency response measures in anticipation of record electricity demand in the third week of August.The company is accelerating efforts to enhance equipment stability and organizational competitiveness by implementing a next-generation power facility management system utilizing artificial intelligence and big data, as well as establishing dedicated teams to respond to changes in the management environment.On August 4, Korea Southern Power held a "Summer Power Supply Inspection Meeting" with participation from all business units to review the current power supply status and safety management measures for each facility.This meeting was convened in light of expectations that electricity demand will peak during the third week of August as industrial operations and daily life normalize amid ongoing heat waves. According to Korea Southern Power, the maximum power demand surged to 92.9GW on July 13 due to an early heat wave in early to mid-July, resulting in a supply reserve ratio dropping to around 11%.In the last week of July, maximum power demand ranged from 85.1 to 93.9GW, with a maximum supply capacity of 107.3GW, maintaining a stable reserve ratio above 13%. However, the maximum power demand for the third week of August is projected to rise to as high as 98.8GW, depending on temperature and industrial activity, surpassing the baseline forecast of 94.1GW. If this peak is realized, it would exceed the previous record of 97.1GW.Korea Southern Power plans to secure supply capacity through stable operation of power facilities and prepare reserve resources, including increasing coal-fired power output, to address emergency situations such as equipment failures.From August 6 to 28, the company will operate an "Emergency Response Team for Power Supply" to closely monitor the power supply situation and the operational status of power facilities. Following the government's declaration of a "serious" heat wave disaster warning on July 26, the company will also implement measures to prevent equipment shutdowns due to human factors, prohibit testing and maintenance during peak power hours, and conduct preemptive inspections in preparation for typhoons and heavy rainfall.During the meeting, business units including Yeongheung, Samcheok, Bundang, Yeongdong Eco, Yeosu, Goseong, and Gangneung shared updates on equipment issues and actions taken. They also reviewed cases of equipment failures from other power companies to discuss preventive measures against similar incidents.Lee Yong-ki, Vice President of Safety Technology at Korea Southern Power, stated, "With record electricity demand expected in the third week of August, all business units must remain vigilant and ensure stable equipment operation. We will prioritize the safety of on-site workers while focusing our collective efforts on stable power supply."'GENi 2.0' Launches to Reduce Administrative BurdenKorea Southern Power officially launched its next-generation power facility management system, "GENi 2.0," on July 31.The previous GENi system, introduced in 2011, has been used by an average of about 2,500 users daily, with 82% of users being on-site workers and contractor employees. The recent upgrade focuses on enhancing convenience for on-site operations and safety management.Korea Southern Power explained that it has integrated complex and repetitive administrative procedures, reducing the overall number of steps by approximately 40%. This aims to allow on-site workers to concentrate more on equipment maintenance and safety management rather than administrative tasks.The 143 types of safety documents that were previously handwritten, printed, and scanned have now been converted to an electronic signature format within the system. This transition is expected to reduce paper usage and minimize the risk of document omissions or errors.Additionally, features have been added to analyze weather information, maintenance history, and power generation data using AI and big data technology to assess the likelihood of equipment failures and work risks. The analysis results will be available to management and on-site workers through a visualized dashboard.Korea Southern Power plans to expand GENi 2.0 as a standard platform for power facility management, considering the potential for system integration among power companies. However, the actual effectiveness in preventing failures and the extent of reduced work hours will need to be verified through data accumulated after the system's operation.Task Force Established to Address Power Company Integration DiscussionsThe company is also preparing internal responses to changes in the management environment, including the integration of power public enterprises and the phase-out of coal-fired power.Korea Southern Power held a discussion on July 28 at its Jinju headquarters to address management environment changes, including power company integration, and to review precedents of public institution integration and changes in the energy industry. Earlier, the company formed a "Integration Issues Response Task Force" in May to respond to external environmental changes, including discussions on power company integration. This discussion was part of the Task Force's activities.Participants examined past cases of public institution integration and the impact of domestic and international energy environment changes on the power industry, discussing ways to incorporate Korea Southern Power's equipment, workforce, and technological competitiveness into future response strategies.Cho Young-hyuk, Acting President of Korea Southern Power, stated, "We will incorporate the opinions of experts and employees derived from the discussion into our energy transition response strategy and integration response master plan."As the specific methods for power company integration and organizational and personnel management directions have not yet been finalized, Korea Southern Power's response strategy is expected to be further refined in line with future government policies and restructuring discussions.120 Local Seniors Participate in Marine CleanupThe company is also promoting marine environmental cleanup projects in collaboration with the local community. On July 27, Korea Southern Power held the launch ceremony for the "2026 New-KOEN Marine Guardians" project in Gyeongnam's Goseong.The Marine Guardians project, initiated in 2017 in partnership with the Korea Senior Employment Agency, aims to address the dual issues of job shortages for seniors in rural areas around power plants and marine debris.This year, approximately 120 local residents aged 60 and older will participate. Over the next five months, participants will engage in coastal environmental cleanup, village flower path creation, and recycling activities in four regions: Gyeongnam's Goseong and Sacheon, Incheon’s Ongjin, and Gangwon's Gangneung.Korea Southern Power reported that over the past nine years, this project has created about 1,870 jobs for seniors in surrounding areas and collected approximately 280 tons of marine debris annually.* This article has been translated by AI. 2026-08-04 19:52:00