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  • aespa set to kick off world tour after making Lollapalooza debut in Chicago
    aespa set to kick off world tour after making Lollapalooza debut in Chicago SEOUL, August 4 (AJP) - K-pop girl band aespa made their Lollapalooza debut in Chicago on Tuesday, delivering a 14-song set that showed off the seven-year-old group's road-tested stage command, according to their agency SM Entertainment. The quartet took the Allianz Stage at Grant Park, opening with debut single "Black Mamba" and 2021 hit "Next Level" before moving through a run of fan favorites - "Armageddon," "Supernova" and "Whiplash" - backed by a live band that gave the set a festival-ready punch. American rapper Ty Dolla $ign, who features on "Switchblade," joined aespa onstage for a surprise performance of the track. The group also leaned on "LEMONADE," their second studio album, playing the title track alongside "WDA (Whole Different Animal)," "Can't Help Myself" and "SHAKIN'" for the U.S. crowd. Older cuts including "Rich Man," "Bubble," "To The Girls" and "Hold On Tight" rounded out the set. "It was an honor to stand on the Lollapalooza Chicago stage," aespa said afterward. "So many fans sang along and cheered us on, and that energy let us really enjoy the performance ourselves. We want to carry it straight into the world tour." Ty Dolla $ign called sharing the Lollapalooza stage with aespa again "meaningful," adding that watching how far the group has come was inspiring and that their command of a stage that size left an impression on him. The performance doubles as a lead-in to Wednesday's release: the music video for "Switchblade," featuring Ty Dolla $ign, drops at 1 p.m. on SMTOWN's YouTube channel, giving fans another look at the pairing right on the heels of the Lollapalooza set. Chicago marked aespa's last major stop before their "2026-27 aespa LIVE TOUR - SYNK: COMPLæXITY" begins. The tour opens with two nights at Gocheok Sky Dome in Seoul on Aug. 7-8, then travels to 25 cities across North America, South America and Europe. 2026-08-04 17:59:55
  • Record Heat Wave and Tropical Nights Persist Across South Korea
    Record Heat Wave and Tropical Nights Persist Across South Korea A record heat wave engulfing the nation is expected to continue into early next week.The Korea Meteorological Administration (KMA) announced on August 4 that from August 8 to 11, morning temperatures across the country will range from 22 to 27 degrees Celsius, while daytime highs will reach between 31 and 37 degrees, significantly above average. Most regions are forecasted to experience a perceived temperature exceeding 33 degrees, with inland areas likely surpassing 35 degrees, leading to ongoing heat and tropical nights.In a report released on August 3, the KMA warned that a heat wave advisory is in effect for most areas, urging caution due to the extreme heat. The newly established heat wave warning, introduced this year, is a higher alert level than the previous heat advisories. It is issued when the perceived temperature is expected to reach 38 degrees or when the maximum temperature is forecasted to exceed 39 degrees for at least one day.This heat wave has already broken several records. According to the KMA's disaster meteorology observation equipment, the highest temperature recorded in Yangsan, Gyeongnam, reached 42.5 degrees on August 2, setting a new national record. Yangsan has seen temperatures above 40 degrees for five consecutive days from July 29 to August 2. On August 1, the national average temperature also rose to 30.1 degrees, surpassing the previous record of 30 degrees set on August 2, 2018.Typhoon Dolphin, currently moving northward, is considered a significant factor in the ongoing heat wave. According to the KMA's typhoon report released at 4 p.m. on August 4, Dolphin was moving westward off the southeastern coast of Japan as of 3 p.m. The expected path of the typhoon is projected to approach the waters near Okinawa and the southern coast of the Korean Peninsula around August 8-9, but it is still uncertain whether it will directly impact the country. The uncertainty regarding its trajectory remains high.However, the approach of the typhoon does not guarantee a relief from the heat. The counterclockwise circulation of Dolphin is bringing easterly winds to the Korean Peninsula, causing the air that crosses the mountains to become hot and dry, which is raising temperatures in the western regions. Previously, the foehn effect from northwesterly winds that heated the Yeongnam region has shifted to the capital area and western regions with the change in wind direction.The KMA forecasts that from August 8 to 11, there will be increased cloud cover in Gangwon Yeongdong, Gyeongnam, and Jeju Island. However, during this period, daytime highs are still expected to reach up to 37 degrees, and heat and tropical nights will persist, making it difficult to view the increase in cloud cover as a turning point in the heat wave. Additionally, waves in the southern sea and around Jeju Island are expected to reach heights of 2 to 5 meters.Currently, it is challenging to determine the specific timing for lifting the heat wave advisories or whether the heat will subside around the 23rd, which marks the end of the summer season. The KMA's official medium-term forecast does not show clear signals for the end of the heat wave, so it is advisable to continue monitoring the latest short- and medium-term forecasts.* This article has been translated by AI. 2026-08-04 17:56:00
  • Implementation of Private University Restructuring Law Approved, Lacks Key Provisions
    Implementation of Private University Restructuring Law Approved, Lacks Key Provisions On August 4, the Cabinet approved the enforcement decree of the Private University Restructuring Law, but experts criticized it as lacking essential elements. "This law is like a 'steamed bun without filling.' There are no clear financial criteria for designating a 'management crisis university' or legal requirements for key restructuring measures such as 'transfer of educational operations' and 'mergers of private universities,'" said Choi Young-chan, a lawyer at Barun Law LLC.The enforcement decree, which will take effect on August 15, outlines the financial diagnosis of private universities, the designation of management crisis universities, and special provisions for restructuring. However, experts argue that the decree only lists soft measures like consulting from the Korea Foundation for the Promotion of Private Education and voluntary reserve fund utilization, making substantial restructuring or a series of closures unlikely.According to the decree, private universities designated as management crisis universities can temporarily ease asset disposal standards and faculty retention rates (up to 30% flexibility) if they establish and implement a restructuring plan. Additionally, reserve funds previously earmarked for specific purposes such as construction, research, and scholarships can be converted for restructuring use.Schools that voluntarily dissolve can receive part of their remaining assets as dissolution compensation or contribute to public interest corporations focused on education, scholarships, child welfare, elderly care, or disability services.The decree also includes measures to prevent benefits for corrupt foundations. Institutions with executives who have committed significant violations related to corporate assets or operations within the last ten years, or those that have failed to comply with corrective orders from authorities, will be excluded from receiving dissolution compensation. Furthermore, transferring remaining assets to related parties or public interest corporations established within ten years is strictly prohibited.To mitigate the impact of school closures on staff and students, the decree provides for compensation or severance pay for dismissed employees within the limits of remaining assets. It also aims to protect researchers' activities from being adversely affected.To ensure students' rights to education, the decree promotes support for transferring to other universities and provides compensation for students who choose not to transfer. Additionally, a 'closed university record management system' will be established to continue administrative support, including issuing graduation and career certificates.Experts have expressed concerns that the law lacks substance for meaningful higher education restructuring. Choi Young-chan noted, "The primary restructuring methods, such as the transfer of educational operations and mergers, are significant legal actions that alter the identity of private universities. However, the current enforcement decree focuses solely on small-scale self-help measures that allow universities to maintain their identity." He added that submitting restructuring plans to the Korea Foundation for the Promotion of Private Education or seeking management advice is merely a self-directed effort, and it is impossible for management crisis universities to normalize through simple consulting without an increase in student enrollment. He concluded that the absence of legal requirements and effects to support substantial higher education restructuring will limit the effectiveness of this law in facilitating necessary changes. 2026-08-04 17:52:00
  • Seoul Faces Extreme Heat as 40-Degree Temperatures Shift North
    Seoul Faces Extreme Heat as 40-Degree Temperatures Shift North Extreme heat, with temperatures soaring around 40 degrees Celsius, is shifting from the Yeongnam region to the capital area and central regions of South Korea.According to the Korea Meteorological Administration, the recent extreme heat in the southern regions is spreading significantly to the western parts of the central region, including Seoul, Gyeonggi, and Chungcheong, driven by easterly winds.The primary cause of this change in wind direction is Typhoon Dolphin, which is moving northward. The typhoon is rotating counterclockwise, pushing strong easterly winds into the Korean Peninsula. As this humid air crosses the Taebaek Mountains, it creates a phenomenon known as the Föhn effect, where the air becomes dry and hot.The hot winds from the mountains are directly impacting the western regions, causing temperatures in the capital area to rise dramatically. In response to the rapidly worsening situation, the Meteorological Administration issued a 'Heat Wave Warning' for all of Seoul and key areas in Gyeonggi Province. This warning is the highest level of alert and is issued when the daily maximum perceived temperature is expected to exceed 38 degrees Celsius or the daily maximum temperature is forecasted to exceed 39 degrees Celsius, marking a first for the capital region.In fact, the perceived temperatures in some areas of the capital region are nearing 40 degrees Celsius. The Meteorological Administration predicts that this extreme heat pattern will persist for at least 10 days, depending on the typhoon's path.The ongoing record-breaking heat has sparked intense reactions from netizens. One user remarked, "The moment I step outside, it feels like entering a sauna, which I've never experienced in my decades of life."Other users shared their experiences, saying, "I attempted to go for a night run for the first time in my life but gave up," and "I used to think 34 degrees was nothing, but now 39 degrees feels the same. It's disheartening to think it will only get hotter. In 30 years, will we be saying 37 degrees feels cool?" Another user questioned, "Is 34 degrees the new low?"Meanwhile, the Meteorological Administration has urged the public to immediately cease strenuous outdoor activities and to stay hydrated, as the risk of heat-related illnesses is expected to peak in the coming days. 2026-08-04 17:52:00
  • Prime Minister Han Seong-sook Focuses on Swift Solutions to Public Issues
    Prime Minister Han Seong-sook Focuses on Swift Solutions to Public Issues Han Seong-sook, the first female Prime Minister from a business background in South Korea, is rapidly reshaping her cabinet just over a month after her inauguration on July 2. According to government sources on August 4, Prime Minister Han has set a clear governance standard, stating, "The ultimate goal is to solve problems for the people," and is focusing on swift resolutions. During her inauguration, she emphasized that the standard for a government of the people is solely based on the 'lives of the citizens,' vowing to earnestly address pressing public issues by heeding the voices of 52 million citizens. Han, who previously served as the first female CEO of Naver, South Korea's largest portal, has generated high expectations since entering public office. To accelerate the resolution of public issues, she is integrating innovative approaches developed over 30 years in the private sector into her cabinet. Han stresses that few issues can be resolved by a single ministry alone. When policy goals span multiple departments, she reportedly convenes discussions with up to eight ministries to gather input and coordinate efforts. In addition to setting priorities for quick problem-solving, she is known for providing detailed guidance on which issues should be addressed first to facilitate progress. Han prefers a less formal approach to work, favoring emails over paperwork and discussing necessary materials in group chats. She opts for discussions involving multiple participants rather than one-on-one reports typical in public service. To save time traveling between Seoul and Sejong, she often holds discussions online. To quickly grasp relevant issues, she frequently meets with external experts, field practitioners, and officials from other ministries, indicating a significant number of internal, non-public meetings. Personnel changes are also crucial for enhancing the Prime Minister's Office's problem-solving capabilities. On July 11, former lawmaker Chae Yi-bae was officially appointed as the Chief of Staff to the Prime Minister, a position at the vice-ministerial level. Chae has previously served as the secretary of the Economic Democracy Committee at the Citizens' Coalition for Economic Justice, a research fellow at the Good Corporate Governance Research Institute, and a researcher at the Economic Reform Institute. He was elected as a proportional representative in the National Assembly through the People's Party, which was founded by lawmakers including Ahn Cheol-soo during the split of the New Politics Alliance for Democracy (now the Democratic Party). Chae reportedly left a strong impression on Han during a National Assembly audit with pointed questions regarding Naver. Han places great importance on hearing directly from the public. Her field visits are far from mere photo opportunities; she always holds discussions or forums with stakeholders during these visits. Based on feedback from these visits, she conducts internal discussions and encourages ongoing attention to issues until they are resolved. In her first week, Han visited the Han River Flood Control Center (for flood checks), the Goyang Changneung area (for housing supply), the Hanaro Mart in Dobong District (for price checks), the flood-affected areas in Cheongju (for rain damage), and redevelopment sites in Jung-gu (for heatwave responses). On July 17, she held a meeting on heatwave measures in the Seoul Station goshiwon area, and on July 29, she engaged with officials at a youth entrepreneurship center for isolated and reclusive young people. On July 30, she visited the Daejeon Nano Convergence Technology Institute to discuss semiconductor collaboration and listen to concerns. Han prioritizes efficiency. On July 29, she decided to hold the weekly emergency economic monitoring meetings only as needed, aiming to reduce the burden of attending various meetings for vice-ministerial officials so they can focus on pressing tasks. The division of roles between the Prime Minister and the Deputy Prime Minister has also been clarified. Deputy Prime Minister Baek Kyung-hoon, who also serves as the Minister of Science and ICT, will focus on technology areas centered around artificial intelligence (AI), while Deputy Prime Minister Koo Yun-cheol, who is also the Minister of Economy and Finance, will concentrate on economic issues, including responses to the Middle East conflict. During her tenure as Minister of SMEs and Startups, Han led small and medium-sized enterprises to achieve record-high exports of $118.6 billion in 2025, despite a global economic slowdown. This achievement is attributed to her aggressive support for the overseas expansion of diversified small and venture businesses, moving away from a large enterprise-centered export structure.* This article has been translated by AI. 2026-08-04 17:52:00
  • Special Investigator Loses Lawsuit Seeking Recognition as Public Employee
    Special Investigator Loses Lawsuit Seeking Recognition as Public Employee A lawyer who served as a special investigator in the Kim Geon-hee-related probe has lost a lawsuit seeking recognition as a public employee. According to legal sources on August 4, the Administrative Division 1 of the Seoul Administrative Court, presided over by Judge Yang Sang-yoon, recently ruled against the plaintiff in a lawsuit filed against the National Pension Service and the state to cancel the denial of enrollment in the public pension scheme.The lawyer, referred to as A, was appointed as a special investigator in July of last year and applied for public pension enrollment. However, his application was rejected on the grounds that he was not considered a public employee, prompting him to file an administrative lawsuit.In court, A argued that special investigators hold the status of public employees and should be eligible for public pension enrollment. He cited a provision in the Special Investigation Act that states, "Special investigators perform the duties of judicial police officers and are treated as special public officials." A based his argument on this provision.However, the court did not accept A's claims. The ruling stated, "While the Special Investigation Act stipulates that the compensation and treatment of special investigators are equivalent to those of special public officials at levels 3 to 5, it does not provide for the granting of public employee status."The court determined that special investigators do not fall under the category of specific public officials as defined by the National Public Service Act, nor can they be considered public employees based on the nature and content of their duties.The court also noted, "Even if special investigators are not recognized as national public employees, there is no evidence to suggest that the essence of the special investigation system would be undermined or that the fundamental functions of the state would be compromised."A has appealed the first-instance ruling, and the appeal is currently underway at the Seoul High Court.* This article has been translated by AI. 2026-08-04 17:48:00
  • NEO Battery Materials to invest $62 million in Gimje battery hub
    NEO Battery Materials to invest $62 million in Gimje battery hub SEOUL, August 04 (AJP) - Canadian battery technology company NEO Battery Materials will invest $62 million to expand a production hub for next-generation batteries used in drones, defense systems and other high-performance applications in Gimje, North Jeolla Province. The company’s Korean subsidiary signed an investment agreement Tuesday with Jeonbuk State and the city of Gimje at its first factory in the Gimje Free Trade Zone. Under the agreement, NEO Battery Materials Korea will invest the funds in stages through 2030 to expand manufacturing facilities and research and development infrastructure. Once completed, the Gimje site will have annual production capacity of 1.5 gigawatt-hours of battery electrodes and 1 GWh of battery cells. The company plans to supply high-energy and high-power batteries to customers in North America, Europe and other global markets. Canada-based NEO Battery Materials develops high-performance lithium-ion batteries using silicon-anode technology for drones, robotics, electric vehicles and energy storage systems. The company has been expanding its presence in Gimje since securing a long-term lease for its first battery manufacturing facility in November 2025. NEO Battery Materials began generating its first commercial revenue in fiscal 2026 and has started delivering drone battery cells and packs to South Korean defense drone manufacturers for testing and field validation. The company is also seeking to build a battery supply chain with reduced dependence on Chinese materials and components. Jeonbuk State expects the investment to help develop Gimje into a battery industry hub covering the full process from research and development to mass production. “This investment marks an important milestone in Jeonbuk’s emergence as a global center for the advanced battery industry,” Jeonbuk Gov. Lee Won-taek said. 2026-08-04 17:44:31
  • South Korea Expands Safety Net for Non-Standard Workers and Youth Employment
    South Korea Expands Safety Net for Non-Standard Workers and Youth Employment The South Korean government plans to expand the social safety net for 8.69 million non-standard workers, including those in platform and freelance jobs, who currently fall outside labor laws and social insurance protections. The initiative also includes a proposal to provide one-time job-seeking benefits for young people under 35 who voluntarily resign from their jobs.During a report on the second half of the year held on August 4, the Ministry of Employment and Labor outlined key priorities, including the protection of non-standard workers, the expansion of job opportunities for youth and middle-aged individuals, and the reduction of industrial accidents and wage arrears.The labor authorities plan to establish a provisional 'K-Labor Welfare Council' by December to comprehensively support the rights, welfare, vocational skills development, and retirement income of non-standard workers. A task force will be formed next month to gather input on the council's name, functions, and operational methods.The council will address issues such as debt recovery, harassment relief, vacation and welfare support, vocational training, career management, and the elimination of gaps in retirement pensions.The government will also push for a package of legislation in December that includes a basic law on workers' rights and a presumption system for workers. The number of artists and non-standard workers covered by employment insurance will be increased from 950,000 to a maximum of 1.6 million, and the scope of the 'Duru Nuri' support program will be expanded from employment insurance to include industrial accident and health insurance premiums. Childcare allowances for non-standard and freelance workers are set to be introduced by June next year.Significant measures for youth employment are also in the works. In June, the number of employed youth decreased by 197,000 compared to the previous year, with the youth employment rate falling to 43.9%, marking a 26-month consecutive decline.The Ministry of Employment and Labor plans to amend the Employment Insurance Act in December to allow young people under 35 who voluntarily resign after a certain period of employment to receive job-seeking benefits once in their lifetime. Discussions are ongoing regarding the benefit amount, duration, and work requirements, with plans to differentiate these from benefits currently available to involuntarily unemployed individuals.A new 'K-Youth Guarantee' program will be established to support young people seeking their first job, providing assistance with career exploration, work experience, vocational training, and job placement.Starting next year, the government aims to expand work experience opportunities for 20,000 individuals in the public sector and 45,000 in the private sector, while also enhancing the K-New Deal Academy, which will be operated directly by large companies. To prevent graduates from falling back into policy gaps without employment, a 'Playground' (tentative name) will be created to connect them with counseling, peer communities, and government-supported job placements and entrepreneurship.In the area of industrial safety, the government will closely monitor 183 companies that have experienced repeated incidents of the same type of accidents over the past decade. If a serious accident occurs at these companies again, they will face intensified supervision equivalent to special inspections.The rights of workers to stop work in dangerous situations will also be expanded. The scope of work stoppage will be broadened to include not only fatal accidents but also incidents that could lead to serious accidents, such as unconsciousness, fires, explosions, and leaks. Amendments to the Industrial Safety and Health Act will allow workers to demand work stoppages from employers.Starting in January, the wage segregation payment system will be expanded from public construction to include private construction and shipbuilding industries. This aims to prevent wage arrears for subcontracted workers by separately paying and verifying the costs related to wages from the total contract amount.Minister of Employment and Labor Kim Young-hoon stated, "We will focus on expanding the foundation for protecting all workers, including those who have been in vulnerable positions, such as non-standard workers."* This article has been translated by AI. 2026-08-04 17:40:10
  • Gwangju Expands Temporary Burial Support for National Veterans
    Gwangju Expands Temporary Burial Support for National Veterans The Gwangju Metropolitan City has expanded its support for temporary burial sites for national veterans to include residents of Gwangju, enhancing equity in veterans' services across regions.On August 4, Gwangju announced that it will extend the eligibility for the temporary burial site at the Haenam Namdo Memorial Park, which will operate until the National Jangheung National Cemetery opens in 2029, to cover all of Gwangju.Previously, only national veterans and their spouses residing in Jeollanam-do could use the temporary burial site, excluding veterans from Gwangju. This measure was implemented to provide equitable veterans' services and honor national veterans in line with the establishment of the Gwangju Metropolitan City.The National Jangheung National Cemetery is scheduled to open in 2029. However, if a burial candidate passes away before its opening, current laws regarding the installation and operation of national cemeteries prevent them from being reinterred at Jangheung if they are buried in another national cemetery.To alleviate the inconvenience for national veterans and their families, Gwangju has been operating the temporary burial site at Haenam Namdo Memorial Park since last year. With this expansion, veterans from Gwangju will now have access to the same benefits.Eligible individuals include national veterans and their spouses who have been deemed suitable for burial by the Ministry of Veterans Affairs and reside in Gwangju. They will receive support for the use of the columbarium until the opening of the Jangheung National Cemetery, after which they can choose to be reinterred there if desired.Gwangju expects that this expansion of support will help reduce administrative service disparities between regions and further honor the contributions of veterans and their families.Jung Kwang-seon, head of the Health and Welfare Bureau of Gwangju, stated, "With the launch of the metropolitan city, we have expanded the support to ensure that all veterans receive the same benefits, regardless of their location. We will do our utmost to ensure that national veterans and their families can use the temporary burial site without inconvenience until the Jangheung National Cemetery opens."For more information regarding the use of the temporary burial site, inquiries can be directed to the Social Welfare Department of Gwangju or the Haenam Namdo Memorial Park.* This article has been translated by AI. 2026-08-04 17:40:10
  • South Koreas Ministry of SMEs Accelerates Support for Small Businesses
    South Korea's Ministry of SMEs Accelerates Support for Small Businesses South Korea's Ministry of SMEs and Startups is accelerating efforts to build a growth ladder for small and medium enterprises (SMEs) while expanding support for local businesses and small merchants. The ministry aims to establish a growth framework that spans from startup to global expansion and re-challenge, while enhancing the competitiveness of traditional markets and overhauling SME support programs and regulations.During a public work report held at the Blue House on August 4, the ministry announced its achievements from the first half of the year and outlined its plans for the second half. The policy goals for the second half are to create a "growth ladder for SMEs and ventures and spread the warmth of growth to ensure that everyone thrives in an irreplaceable South Korea." The ministry will focus on three main policy objectives: systematizing the growth pathways for SMEs, disseminating growth benefits across regions and social classes, and untangling the complexities of SME policies.The ministry reported significant achievements in the first half of the year, including in areas such as startups, venture investment, exports, and support for small businesses. The newly launched "Everyone's Startup" project attracted 62,944 applicants, resulting in a competition ratio of 12.6 to 1. In the first quarter, the total amount of venture funds raised reached 44 trillion won, the highest ever, while venture investments amounted to 33 trillion won, marking the second-highest level on record. Exports by SMEs reached a record high of $64 billion, and the R&D budget for SMEs was set at a historic 22 trillion won. Additionally, the ministry implemented measures to streamline support programs, operate a reporting system for technology theft, and enhance crisis management systems for small businesses.In the second half, the ministry plans to complete the growth ladder for SMEs and ventures, continuing the "Everyone's Startup" project and launching a second round of support for applicants after strengthening personal data protection measures. A nationwide audition is also scheduled for the end of the year. The ministry will select six additional startup cities and expand the local startup ecosystem through the establishment of regional growth funds and startup spaces.In collaboration with relevant ministries, the ministry aims to create ecosystems for new growth sectors such as new security, pharmaceutical and biotech, climate tech, consumer goods, and manufacturing AI, with plans to support up to 40 billion won per company for a maximum of five years.To invigorate the venture ecosystem, the ministry will establish a linkage system between the fund of funds and the National Growth Fund, and improve regulations to allow venture companies to maintain special provisions under the Venture Business Act even after they grow into mid-sized enterprises. The plan includes nurturing 3,000 national representative leap companies, focusing on promising regional enterprises.The ministry will also strengthen the foundation for re-challenges, assisting diligent entrepreneurs in smoothly winding down their businesses while providing support for 250,000 SMEs facing crisis alerts and financial difficulties, as well as facilitating transitions to new industries.Policies aimed at spreading the benefits of corporate growth across regions and social classes will also be implemented. The ministry plans to enhance delivery capabilities in traditional markets, promote AI-based autonomous management restaurants, and brand local commercial districts. Additionally, a basic social security system for small business owners will be developed in collaboration with relevant ministries. Support for childcare, employment, and industrial accident insurance will be expanded, and policy funding will be restructured to focus on small businesses with low to moderate credit and high growth potential.Coexistence policies will expand from a manufacturing focus to include platforms, finance, and defense sectors. The ministry will support the establishment of related systems to facilitate employee buyouts and mergers and acquisitions for business succession, ensuring corporate sustainability. Furthermore, the ministry will streamline SME support programs across all departments, reducing similar and underperforming initiatives while redesigning them based on growth potential and regional balanced development.Acting Minister of SMEs and Startups No Yong-seok stated, "The past six months have been a period where we mobilized all our policy capabilities to ensure that SMEs and venture companies can recover and innovate. In the second half, we will do our utmost to realize an irreplaceable South Korea where everyone grows through the growth ladder and the spread of growth benefits." 2026-08-04 17:40:10