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Homeowners in Gangnam Resist Selling Amid Tax Changes “After living here for over 30 years, are you telling me to sell my house and leave?”On August 4, the day after the government announced its real estate tax reform plan, brokers in the One Bailey complex in Banpo-dong, Seocho-gu, Seoul, were inundated with calls from homeowners seeking consultations. Long-term homeowners, particularly elderly members of the original cooperative, were busy weighing the increased property taxes against the reduced capital gains tax exemptions, calculating whether to sell or hold onto their properties.One brokerage that has operated near One Bailey for 22 years reported receiving over 20 inquiries by midday regarding comprehensive real estate tax and capital gains tax burdens, as well as favorable selling timing. Many of the inquiries came from non-resident homeowners living in other regions or abroad, as well as members of nearby reconstruction cooperatives. Some homeowners even scheduled in-person consultations for detailed tax calculations.The representative of a brokerage within the complex stated, “Many elderly cooperative members have lived in One Bailey for over 30 years and often have little income aside from pensions. With property taxes increasing and exemption benefits decreasing when they eventually sell, many homeowners are questioning whether they should sell now.”Market analysts suggest that the tax reform could lead to adjustments in the asking prices of existing listings. Another brokerage representative noted, “There is a growing atmosphere among long-term cooperative members to consider selling. With existing listings piling up and not selling, homeowners who need to dispose of their properties will ultimately have to adjust their prices.”Conversely, buyers are adopting a wait-and-see approach, anticipating that more tax-efficient properties may come onto the market. The brokerage added, “Buyers who were looking at properties before the announcement are now waiting for prices to adjust a bit more.”One Bailey is considered a prime example of a complex that will be significantly affected by the introduction of long-term capital gains tax exemptions, as many original cooperative members have held their properties for extended periods, resulting in substantial capital gains. Even homeowners who have lived there for over 10 years may face increased capital gains tax burdens starting in 2028 if their profits exceed the new exemption limits. Currently, there are no limits on long-term capital gains tax exemptions until 2027, but they will be capped at 2 billion won in 2028 and 1 billion won from 2029 onward.For instance, if a homeowner acquired an 84-square-meter unit at Raemian Prestige for 1.6 billion won, lived there for 10 years, and then sold it for 5.6 billion won, the capital gains tax is estimated to rise from 241.85 million won in 2027 to 449.85 million won in 2028, and to 945 million won in 2029.Exit for Sellers Opened, but “Those Who Wanted to Sell Have Already Sold”However, the prevailing outlook is that the increased tax burden will not immediately lead to a surge in urgent sales. The tax reform will be implemented gradually, allowing homeowners to choose their selling timing. Additionally, many homeowners who were eager to sell ahead of the expiration of the multi-homeowners' capital gains tax exemption on May 9 have already disposed of a significant number of properties.Interviews with brokerages in major complexes in Gangnam, including One Bailey, Banpo Jaei, Acro River Park, and Raemian Daechi Palace, revealed that while inquiries about selling and tax burdens have increased since the announcement, the likelihood of new urgent sales remains low.Homeowners often have the financial capacity to absorb the tax burden or are hopeful for further price increases. A broker near Banpo Jaei stated, “Those who wanted to sell have already done so, and the remaining homeowners are mostly inclined to hold onto their properties.” They added, “While some additional listings may emerge, the announcement alone is unlikely to trigger a flood of urgent sales.”Many elderly asset holders are choosing to hold onto their properties despite the increased property tax burden, considering the transaction costs such as capital gains tax and acquisition tax. A broker in Daechi-dong explained, “If you sell a house worth 6 billion won, you have to pay capital gains tax and then incur acquisition tax on another property. Many homeowners in their 60s and 70s prefer to pay the property tax and keep their homes.”Homeowners Transitioning to Owner-Occupancy Raises Concerns Over Rental SupplyWhile the pace of tax-efficient properties accumulating in the sales market is slow, a shift toward owner-occupancy is being observed in the rental market. Starting next year, homeowners residing in their properties will benefit from a basic exemption of 1.4 billion won for the comprehensive real estate tax, while those living elsewhere will only receive a 900 million won exemption. The tax credit for the comprehensive real estate tax and long-term capital gains tax will also be restructured to focus on the duration of residence rather than ownership.One homeowner at Banpo Jaei, whose lease expired in July, inquired with a brokerage about the timing for determining residency status, as they could only move in after June 1, the date for comprehensive real estate tax assessment.A broker at the firm noted, “Some homeowners are inquiring about moving into properties they previously rented out. With regulations encouraging owner-occupancy, the supply of rental properties is continuously decreasing.”In Daechi-dong, this trend is already leading to a shortage of rental properties. A broker near Raemian Daechi Palace stated, “After the tax reform announcement, when asking homeowners about extending rental contracts, the response is increasingly, ‘I think I need to move in myself.’ Currently, there are only tenants looking for rentals, and very few new listings are available.”Homeowners who continue to rent out their properties may also pass the increased tax burden onto tenants through higher rents. A broker near Banpo Jaei mentioned, “Among homeowners who are not selling, some have indicated they will raise rents to offset the increased tax burden. If listings do not emerge, the property tax burden may be transferred to tenants.”The government has expanded the annual tax credit limit for rent for non-homeowners from 10 million won to 12 million won. However, the additional tax credit for regular workers is only about 300,000 to 340,000 won annually, or an average of 25,000 to 28,000 won per month. If the decrease in rental supply or the transfer of property tax leads to rent increases beyond this amount, the benefits of the expanded tax credit could easily be offset.The rental market in Seoul is already vulnerable to further supply reductions. According to KB Real Estate, the average deposit for jeonse (long-term lease) in Seoul surpassed 700 million won for the first time last month. A survey by the Korea Real Estate Agency also indicated that jeonse prices in Seoul have risen for 77 consecutive weeks.Kim In-man, head of Kim In-man Real Estate Economic Research Institute, stated, “As the property tax and long-term capital gains tax reforms are implemented gradually and the legislative process is still ongoing, there is little urgency for homeowners to sell their properties immediately. Tax-efficient properties are likely to be distributed over the next year until 2027.”He added, “If demand from homeowners selling in Gangnam shifts to properties priced below 2 billion to 3 billion won, competition in that price range may intensify. Especially with the increased incentives for owner-occupancy, the rental supply in Seoul is likely to decrease significantly, leading to considerable shocks in the rental market.”* This article has been translated by AI. 2026-08-04 16:12:00
Minister Kim Seong-hwan: 12th Basic Plan for Power Supply to be Ready by October Minister of Climate, Energy and Environment Kim Seong-hwan announced on August 4 that the 12th Basic Plan for Power Supply, which includes plans for expanding renewable energy, reducing coal power, and enhancing a flexible power grid, will be prepared by October.During a mid-year report to President Lee Jae-myung at the Blue House in Jongno, Seoul, Kim stated that the decision on whether to introduce new nuclear power plants will be made after consulting with experts and gathering public opinions.He also reaffirmed the goal of achieving 100GW of renewable energy capacity by 2030.Regarding the Sunshine Income Village project, he mentioned that pilot projects have started in 86 villages this year, with plans to expand to 700 villages. He added that for residential solar power systems under 10kW, the existing offsetting method will be changed to cash settlement, enabling a 'family sunshine pension.'Kim further noted that the promotion of solar power on factory rooftops and in agricultural and floating solar installations will be accelerated, aiming to reduce the cost of solar power generation to below 150 won per kWh, making it cheaper than gas or coal.He also outlined plans to expand wind power, stating that this year's wind power bidding volume has increased to 4GW, and efforts to lower generation costs through joint connection systems are yielding results. These initiatives are expected to lead to approximately 25GW of generation capacity by 2035.The reduction of coal power and the restructuring of power generation public enterprises will also be reflected in the basic plan. Kim emphasized the need to increase renewable energy while decreasing coal power, announcing plans to merge five public enterprises that primarily rely on coal into a company focused on renewable energy.Additionally, he mentioned plans to reform the electricity market, stating that a project to provide price signals for renewable energy will first be implemented in Jeju and then expanded to Honam and nationwide based on its success.The construction of a direct current (DC) power grid will also be accelerated. Kim explained that most devices, including solar power, semiconductors, artificial intelligence data centers, and mobile phones, use direct current, and the global market for direct current power, including high-voltage direct current (HVDC), is expanding. He stated that a demonstration project for direct current will be launched in collaboration with Korea Electric Power Corporation and Naju, aiming to develop the power equipment industry as a key export sector.Kim also discussed plans to enhance the power grid and revise the electricity pricing system. He stated that energy storage systems (ESS) will be significantly reinforced in transmission and distribution networks, and pumped storage will be expanded. A regional electricity pricing system, considering transmission costs, energy independence, and balanced development, will be implemented in the second half of the year following a public hearing in August.* This article has been translated by AI. 2026-08-04 16:12:00
Six Major Pork Suppliers Charged with Price Fixing in South Korea Six major pork distribution companies have been charged with colluding to raise pork supply prices by at least 20% over a six-year period. The Seoul Eastern District Prosecutors' Office announced on August 4 that it has indicted six companies, including Dodram Food, Dihus Korea (formerly CJ Feed & Care), Daesung Industrial, Daejeon Chungnam Livestock Association, Bukyeong Livestock Association, and Bodam, along with 12 employees, for violating fair trade laws. The collusion occurred between August 2017 and November 2023 for pork supplied to E-Mart.However, the fair trade law provisions penalizing price information manipulation were enacted in December 2021, meaning only collusion activities after that date were subject to prosecution.Prosecutors noted that this is the first time they have charged companies for colluding on information exchange regarding food products. Previously, they had exercised their right to request prosecution from the Fair Trade Commission (FTC), leading to a complaint filed in April and subsequent investigations into nine companies.Not all nine companies were indicted. While prosecutors determined that all nine participated in the collusion, they excluded companies that had dissolved or cooperated with the FTC investigation, ultimately charging six firms.Park Hyung-cheol, a prosecutor in the sixth criminal division, held a briefing on the investigation, stating, "The FTC uncovered collusion worth 19 billion won that primarily occurred between 2021 and 2022, but the prosecution revealed additional collusion activities from August 2017 over a six-month period and obstruction of the FTC investigation."Within three months of launching the investigation, prosecutors discovered that all suppliers to E-Mart had agreed on pork price estimates and exchanged this information weekly during the relevant period.They confirmed that collusion occurred in both general pork, classified as domestic pork without supplier labels, and branded pork from meat processing companies. Park stated, "An analysis of branded pork supply prices from 2020 to 2023 showed that the prices were nearly identical due to information exchange, and the price fluctuations of general pork were similarly aligned, indicating a price distribution that would be difficult to achieve without such sharing."The total amount spent by E-Mart on pork from the colluding companies was approximately 1.2 trillion won, totaling 14,200 tons.The companies began exchanging information to maintain pork supply prices at a certain level after E-Mart decided not to disclose the estimated prices submitted by suppliers to encourage price competition in August 2017. They employed a bidding strategy with minor price differences to avoid detection of their collusion.When special events or inventory clearance were necessary, they communicated individually to manage prices, but starting in November 2021, they created a secret group chat on Telegram to coordinate supply prices. When a responsible person changed, the successor continued the collusion, and new suppliers also joined the collusion.During this process, when the FTC conducted on-site investigations into the collusion allegations, prosecutors found evidence that employees systematically destroyed related evidence, such as messenger chat records.Some companies were found to have involved compliance officers from their legal teams in directing the deletion of electronic records. Prosecutors view this as an obstruction of the investigation and have identified four individuals as the main perpetrators for prosecution.Park emphasized, "The FTC imposed a fine of 3 billion won on these companies, but without the obstruction of the investigation, the amount could have reached hundreds of billions of won."This collusion has also impacted inflation. Prosecutors noted, "After the collusion was uncovered in November 2023, the wholesale price of pork rose from 5,134 won per kilogram in 2023 to 5,239 won in 2024, while the price of pork belly at large supermarkets dropped by 25.5% compared to the previous year," indicating that the collusion likely caused retail prices at large supermarkets to rise by at least 20% before the investigation.Prosecutors stated, "We will continue to actively respond to various fair trade violations that disrupt the national economy in accordance with the law and principles."* This article has been translated by AI. 2026-08-04 16:08:00
Severance Hospital Leverages AI to Accelerate Infectious Disease Drug Development Severance Hospital is establishing an AI-based digital preclinical platform to accelerate the development of treatments and vaccines for emerging infectious diseases. The goal is to predict and validate the efficacy and safety of candidate substances in the preclinical stage, thereby shortening the drug development timeline and increasing the likelihood of success.On August 4, Professor Nam Ki-taek of the Department of Biomedical Science at Yonsei University announced that his research team has been selected for a new project under the Ministry of Science and ICT's 2026 Bio-Medical Technology Development Program (AI Bio New Drug Sector).The project, titled 'Establishment of a Next-Generation Infectious Disease Response Data-Verification Linked Fast-Track System and Operation of a Preclinical Platform,' will receive a total of 10.8 billion won in research funding over four and a half years, from July 2026 to December 2030.The research team plans to standardize preclinical data necessary for the development of infectious disease treatments and vaccines, creating a digital preclinical decision-making system that integrates AI-based predictions with actual preclinical experiments. They will establish a data value chain (DVC) for the collection, refinement, and analysis of pharmacokinetic, efficacy, safety, and immunogenicity data, along with an AI-capable preclinical data infrastructure.The platform will operate by having AI first predict the pharmacokinetics, distribution, toxicity, efficacy, and immunogenicity of candidate substances, which will then be compared and validated against actual preclinical experimental results. The potential for clinical entry will be assessed for drug candidates based on analyses of drug exposure, distribution, and toxicity, while vaccine candidates will be evaluated for their immunogenicity and immune response.Additionally, an AI-based clinical translation system utilizing preclinical data and physiological parameters will be established. This system will predict the therapeutic effects in actual clinical settings based on animal experiment results, helping to prioritize candidate substances and support subsequent development strategies.Professor Jeong Soo-jin from the Department of Infectious Diseases at Yonsei University will review the clinical applicability of the preclinical research results and participate in the development strategies for treatments and vaccines.The research will be conducted in phases. In Phase 1 (2026-2028), the team will secure new datasets related to infectious disease treatments and vaccines, establish an AI-based data infrastructure, and create a fast-track system for infectious disease response. Phase 2 (2029-2030) will focus on validating the platform using experimental data from treatment and vaccine candidates and enhancing intelligent preclinical prediction services by integrating large language models (LLM) and retrieval-augmented generation (RAG) technology.Drug development is a long-term endeavor, often taking over a decade. The research team aims to shorten the decision-making process from candidate substance discovery to preclinical efficacy and safety evaluation, and clinical entry prediction during outbreaks of new infectious diseases. They plan to link the established preclinical data and AI models with the national bio data infrastructure to expand public research capabilities.Professor Nam Ki-taek stated, "This research is significant in establishing a new infectious disease research platform that connects preclinical data, AI predictions, and experimental validation into a single decision-making system. We aim to complete a digital preclinical platform that can evaluate treatment and vaccine candidates more quickly and accurately during outbreaks of new infectious diseases."* This article has been translated by AI. 2026-08-04 16:08:00
Justice Ministry to Ensure Follow-Up Measures After Criminal Procedure Law Revision The Justice Ministry announced on August 4 that it will take thorough follow-up measures after the partial revision of the Criminal Procedure Law was approved at the Cabinet meeting. In a press release that afternoon, the ministry stated, "We will continuously monitor to ensure that the new criminal justice system is effectively implemented to achieve justice and protect victims." The revised bill primarily abolishes the prosecutor's supplementary investigation authority and instead aims to improve the mechanisms for prosecutors to request supplementary investigations, corrective actions, and re-investigations, according to the Justice Ministry. The ministry added, "This revised law is set to take effect on October 2, coinciding with the launch of the Public Prosecution Service and the Serious Crimes Investigation Agency. We plan to swiftly prepare amendments to subordinate regulations, such as the 'Investigation Guidelines,' and proceed with the legislative process, including public notice of the amendments." Furthermore, the ministry stated, "We will collaborate with relevant agencies to develop a structure and budget that will enable the Public Prosecution Service to function without disruption. Starting October 2, we will diligently fulfill our role as a prosecuting agency in handling cases related to public safety crimes and serious crimes, including prosecution, maintenance, execution of sentences, and recovery of criminal proceeds."* This article has been translated by AI. 2026-08-04 16:04:20
South Korea Accelerates 'Electro-state' Initiative with New Electricity Pricing for Industries The Ministry of Climate, Energy and Environment is moving forward with its 'Electro-state' initiative by introducing a regional differential electricity pricing system for industries and establishing a dedicated pricing structure for artificial intelligence data centers (AI DC). The goal is to provide stable electricity and water supply to advanced industries while enhancing national competitiveness in the AI era through decarbonization, circular economy, and climate disaster response. ◆Accelerating the Electro-state Initiative with Regional Pricing and AI DC Rates During a business report meeting hosted by the President at the Blue House on August 4, the ministry outlined five key tasks, including the construction of the 'Electro-state,' supply of water to advanced industries, green transition (K-GX), a circular economy to reduce plastic use, and the establishment of an environmental safety net. To address the rising electricity demand from AI DCs and semiconductor industries, the ministry plans to expand carbon-free power generation, focusing on renewable energy and nuclear power, while also reforming the electricity pricing system and power grid. Minister Kim Sung-hwan stated, "The regional electricity pricing system will only apply to industrial users, and we are not considering it for residential users." The ministry intends to design the regional differential pricing system for industries by comprehensively reflecting the costs of using transmission lines, regional power self-sufficiency, grid conditions, and national balanced development. A public hearing is scheduled for the third week of this month to unveil the outline of the regional differential electricity pricing system. The industrial electricity rates will be differentiated across four major regions, with detailed criteria linked to the regional classification system of the Ministry of the Interior and Safety. Minister Kim expressed a desire to lower electricity rates to the level of China but acknowledged that it could lead to significant losses for Korea Electric Power Corporation (KEPCO). He noted, "We are trying to determine the extent of the reduction within a range that KEPCO can manage." He added that industries directly competing with China, such as steel and petrochemicals, face significant electricity cost burdens and that they are considering differential pricing to enhance the competitiveness of industries located outside the metropolitan area. The ministry also plans to introduce a dedicated pricing system for AI DCs within this year. This system will reflect the unique electricity usage characteristics of data centers, encouraging large power-demanding facilities to locate in areas with relatively abundant electricity. Additionally, the ministry aims to expand the use of renewable energy. This includes mandatory solar panels on factory rooftops, large-scale solar projects in reclaimed and border areas, and government-led offshore wind power initiatives, with a target of achieving 100 GW of renewable energy ahead of schedule. For residential solar systems under 10 kW, the ministry is promoting a 'sunlight income' system that allows for cash settlement of surplus power instead of the existing offset method, with monthly or quarterly settlement periods under consideration. The decision on the introduction of new nuclear power plants and small modular reactors (SMRs) will be reflected in the 12th Basic Plan for Power Supply and Demand after consulting with experts and the public. The power transmission network will also be developed ahead of industrial locations. The ministry plans to proactively expand the grid to ensure that AI DCs and advanced industrial complexes can be connected to the power system immediately, while also enhancing community acceptance through the expansion of existing transmission lines and undergrounding projects. To respond to the diversification of power sources and the transition to a decentralized power system, the establishment of a 'Power Supervisory Agency' (tentative name) to oversee the electricity market and grid operations is also being pursued. ◆Revamping Water Supply and Green Transition for the AI Era The water supply system, another critical infrastructure for advanced industries, will undergo a comprehensive overhaul. The review cycle for the national basic water supply plan will be shortened from five years to two years, and the ministry will reclaim and redistribute excess river water permits to respond flexibly to changes in demand. The ministry plans to utilize agricultural, power generation, and river water in a connected manner, while also expanding the maintenance of metropolitan water supply systems and the reuse of wastewater. In drought-prone areas, the ministry will enhance groundwater storage dams and mobile seawater desalination facilities. The ministry is also set to accelerate the decarbonization of industries, transportation, and heating. Strategies for the green transition of five major high-carbon industries—steel, petrochemicals, refining, cement, and semiconductors—will be developed, aiming for a 50% share of electric vehicles among new cars by 2030 and promoting the electrification of public and commercial vehicles. The ministry plans to expand the demonstration of heat pumps in multi-family housing and support green transition financing. The circular economy to reduce plastic use is also a core task. The mandatory use rate of recycled materials in PET beverage bottles will be increased to 30% by 2030, and a system for the circular use of critical minerals such as rare earth elements and waste batteries will be established. Furthermore, the ministry will strengthen responses to climate disasters and harmful factors in daily life. An AI-based flood response system and a chemical safety net will be established, along with measures to manage high ozone levels and reduce fine dust in residential areas. Minister Kim stated, "We are facing both the AI revolution and the climate crisis simultaneously. We will support the success of mega-projects with clean and stable electricity and water supply, overcome the climate crisis through green transition and circular economy, and create an environment where citizens can feel secure." * This article has been translated by AI. 2026-08-04 16:04:10
Government Launches $1.6 Trillion Mega Projects and Establishes Resource Security Fund The government will conduct monthly reviews of three major mega projects to translate a $1.6 trillion local investment plan into actual investments. It is also moving to establish a resource security fund to manage supply chains for key minerals, crude oil, and gas.On August 4, the Ministry of Trade, Industry and Energy presented ten key initiatives, including the three mega projects and a major shift towards manufacturing artificial intelligence (M.AX), during its second-half work report.The ministry assessed that it effectively managed oil prices through a maximum price system for petroleum products in response to the Middle East conflict earlier this year. It also diversified crude oil and naphtha imports and implemented oil stock swaps to prevent disruptions in industrial production.Despite challenging external conditions, including the Middle East conflict and U.S. tariffs, exports showed strong performance. With key items performing well and proactive trade responses, exports reached a record high of $496.3 billion in the first half of the year.In the second half of the year, the ministry plans to implement the ten key initiatives to establish four growth axes and two spatial axes. It aims to accelerate the execution of the three mega projects, which will see investments of 896 trillion won in the Honam region, 392 trillion won in the Chungcheong region, and 312 trillion won in the Yeongnam region. Monthly review meetings chaired by the president will be held to monitor investment progress and address challenges, and the ministry will establish a semiconductor innovation growth support team. This approach will allow for simultaneous progress on related procedures, moving away from the traditional sequential method of handling permits, site development, and power and water supply.For the Yongin semiconductor cluster, the completion date for the general industrial complex has been advanced from 2045 to 2033, and the national industrial complex from 2047 to 2039, shortening the timelines by 12 and 8 years, respectively. The national industrial complex aims to complete land compensation by the end of this year and plans to initiate operations of the first fab by 2029.The Honam semiconductor cluster aims to begin construction and production within the government’s term, with plans to select a project implementer and designate candidate sites this year. Efforts to secure power and water supply and related permits will also proceed in parallel.To strengthen the investment base in the region, the government will select three to four 'growth engines' in each region this month. These growth engines will receive support packages covering finance, taxation, systems, talent, technology, and infrastructure. The government plans to enact the mega special zone law by the end of the year, introducing around 300 regulatory exceptions and special subsidies.Additionally, the establishment of a resource security fund is being pursued to enhance resource security. This fund will be utilized to reduce dependence on Middle Eastern oil and gas, expand storage facilities, and increase international joint stockpiling, as well as stockpiling essential petrochemical products.The funding sources and scale of the fund are still under discussion among relevant ministries. Deputy Minister Moon Shin-hak explained in a pre-briefing that discussions are ongoing with the Ministry of Economy and Finance about utilizing part of the energy special account as funding for the resource security fund.The number of key mineral stockpiling items will be expanded from the current 24 to 29, and the maximum stockpiling amount will increase from 180 days to 365 days. The government plans to diversify import routes using official development assistance (ODA) and policy finance, while also restructuring the Korea Mine Rehabilitation and Resource Corporation to focus on securing and stockpiling key minerals.In the trade sector, the government will evaluate strategic and commercial aspects, as well as mutual benefits with the U.S., to select the first strategic investment project in the U.S. by the end of the year. It is also considering joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to diversify markets and strengthen supply chains.Deputy Minister Moon stated, "As the multilateral trading system is collapsing and trade is facing difficulties, we see the need to pursue CPTPP membership. We are currently conducting in-depth discussions with relevant ministries, but no definitive decisions have been made within the government yet."In the M.AX sector, the government plans to expand the number of AI factories to 220 by the end of this year. In 30 manufacturing sites, the experiences and knowledge of skilled workers will be digitized, and humanoids will be tested in ten sites, including steel and semiconductors. By 2030, seven key industrial complexes will be developed into M.AX clusters.* This article has been translated by AI. 2026-08-04 16:04:10
PharmaResearch Targets Gynecology Market with Launch of 'Gyner' Wound Dressing PharmaResearch has made its first entry into the gynecology market, focusing on women's health. On August 4, the company announced that it showcased its inaugural gynecological product, 'Gyner,' at the Summer Academic Conference of the Korean Society of Women's Sexual Medicine, held on July 26 at the Plenty Convention Center in Seoul.The Korean Society of Women's Sexual Medicine is an academic organization dedicated to improving women's quality of life and advancing the field of women's sexual health through the sharing of the latest research and clinical experiences. Approximately 200 gynecologists attended the conference, where PharmaResearch introduced the clinical utility and product capabilities of Gyner, a Class II wound dressing made with its proprietary ingredient, 'DOT® PN.'Gyner is a transparent adhesive wound dressing designed for use on sensitive areas prone to minor bleeding or exudate, such as the female perineum. It aids in the recovery of perineal wounds caused by vaginal dryness and protects the skin from external irritants, supporting hygienic management.Last month, PharmaResearch held the '2nd A.R.I.A Leaders Forum' to discuss clinical applications and utilization strategies for Gyner. A company representative stated, "With the launch of Gyner, we aim to accumulate clinical data and market insights to strengthen our position in the gynecology sector."* This article has been translated by AI. 2026-08-04 16:04:00
Musical Actors Kim Tae-o and Kim I-hu to Marry on August 8 Musical actors Kim Tae-o and Kim I-hu have announced their upcoming marriage. On August 4, Kim Tae-o shared on his social media that he will marry someone he wishes to spend his life with on August 8. He expressed, "I wanted to personally inform those who have supported me for a long time as an actor." He added, "I still have much to learn and improve, but I feel grateful and reassured to have someone to walk with now." Kim Tae-o also mentioned, "These days, I am beginning to see not just my life as an actor but also my life as Kim Tae-sik. I hope to become a better person and a better actor as we live together, and I am thankful for your continued support and affection." On the same day, Kim I-hu also took to her social media to share her joy in finding a reliable partner to walk through life with. She stated, "I am happy to announce that I have found a strong companion to share my future with, to all of you who have always watched over me with affection." Kim I-hu expressed, "We will stand side by side on the long stage of life, shining light on each other. I will continue to dream and not stop taking adventures. It would bring us immense joy if you could bless our exciting first steps with warm eyes." She further added, "As I prepare for marriage, I reflect on all the moments you have supported me with your generous love. I sincerely thank you for the love you have given me, and I will strive to be a good person and a good actor who can return that love." Kim Tae-o made his debut in the musical 'The Cigarette Shop Uncle' in 2016 and has appeared in productions such as 'Mamma Mia!' and 'Blue Rain.' Kim I-hu debuted in the musical 'Bare: The Musical' in 2017 and is currently performing in 'The Origin of Species.'* This article has been translated by AI. 2026-08-04 16:04:00
Police to Handle All Complaints Starting in October Amid Controversial Legal Reforms The government approved a bill on August 4 that abolishes the prosecution's investigative powers, marking a significant shift in the criminal justice system that has been in place for 72 years. Once signed by President Lee Jae-myung and published in the official gazette, the changes will take effect in October.Starting in October, the newly established Prosecution Office and the Serious Crimes Investigation Agency will completely separate investigation and prosecution functions. All cases will be investigated by judicial police officers (police and the Serious Crimes Investigation Agency), and complaints will be primarily handled by the police, with no submissions allowed to the Prosecution Office.Direct investigations by prosecutors, including supplementary investigations, will be entirely prohibited. The Prosecution Office will not be able to directly interrogate or summon suspects and witnesses but can only request supplementary investigations from the police.If a prosecutor believes that a police investigation is insufficient, they can request a supplementary investigation, which the police must complete within one month and report back. If the prosecutor still finds the investigation lacking, they can request an additional month for further investigation.Additionally, if the police decide not to pursue a case due to insufficient evidence, complainants can file an objection within three months, which will be reviewed by the Prosecution Office. Furthermore, individuals with a direct interest in the case, such as victims of false accusations, can also file objections within the scope defined by presidential decree.Following the bill's passage, the ruling Democratic Party expressed its support. Spokesperson Park Hae-cheol stated in a written briefing that the amendment strengthens victim protection and decentralizes prosecutorial power while enhancing accountability. He emphasized that the public desires a fair criminal justice system where no innocent victims exist.However, concerns continue to be raised by lawmakers, particularly those with legal backgrounds. Na Kyung-won, a member of the National Assembly from the People Power Party and a former judge, held an emergency discussion in the National Assembly, asserting that the amendment is clearly unconstitutional.Jang Dong-hyuk, also a former judge and leader of the People Power Party, referenced a victim of the 'Busan kickback' incident who appealed to President Lee via social media to support victims and exercise veto power. He criticized the law, stating, 'What better illustrates the essence of this bad law than the reality of citizens pleading for support?'Independent lawmaker Han Dong-hoon, a former prosecutor, invited the victim of the Busan incident to a meeting to discuss the potential issues arising from the abolition of supplementary investigation rights. He pointed out that if a prosecutor requests a supplementary investigation due to police errors, the police might simply dismiss the concerns, rendering the request ineffective.Even within the Democratic Party, there are voices of concern. Kwon Sang-on, a lawyer and the only ruling party member to vote against the amendment, expressed on his Facebook that he could not choose otherwise, seeing the impending suffering of the public.Moreover, there are worries regarding the expanded criteria for dismissing prosecutions included in the amendment. The amendment adds grounds for dismissal based on significant illegal investigations or cases where prosecutorial discretion is grossly abused.However, opposition parties argue that the Democratic Party is using this amendment as a workaround to avoid prosecution in light of President Lee's ongoing trial, suggesting that tensions between the ruling and opposition parties are likely to continue. 2026-08-04 16:04:00