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Venture Association Commemorates 7th Anniversary of Lee Min-hwa's Passing The Venture Association is reflecting on entrepreneurship, a core value and starting point of the venture ecosystem, as it marks the 7th anniversary of the late Honorary Chairman Lee Min-hwa's passing. The association emphasized the need for the venture ecosystem to revisit the pioneering spirit of the first generation of venture entrepreneurs.According to the Venture Association, a week starting from August 3 has been designated as a memorial week for Lee Min-hwa, during which an online memorial hall is being operated. The online memorial hall is open for anyone to participate and leave messages of remembrance.Lee Min-hwa was a prominent figure in the first generation of venture entrepreneurs, significantly contributing to the establishment of South Korea's venture ecosystem through the enactment of the Special Act on Venture Businesses, policies to foster venture companies, and the revitalization of KOSDAQ. As the first president of the Venture Association, he dedicated himself to enhancing the rights of venture companies and promoting entrepreneurship.The association noted that the venture ecosystem is at a new turning point due to changes in capital market systems, including KOSDAQ, and the venture investment environment. It stressed that institutional support, along with the entrepreneurial spirit that drives challenge and innovation among venture entrepreneurs, is becoming increasingly important for the continuous growth and resurgence of the ecosystem.Song Byeong-jun, chairman of the Venture Association, also emphasized in his New Year's address the need for a spirit of challenge and innovation in line with the 'era of great transformation,' including the transition to artificial intelligence.A representative from the association stated, 'Now, as the venture ecosystem faces a new turning point, it is time to reaffirm the entrepreneurial spirit demonstrated by the late Lee Min-hwa.'* This article has been translated by AI. 2026-08-04 12:16:00 -
Government to Provide Up to 100% Funding for Semiconductor Cluster Infrastructure The government will provide up to 100% funding for the costs associated with the establishment and operation of semiconductor cluster infrastructure. Details regarding the formation and operation of the Semiconductor Strengthening Special Committee, the designation process for clusters, and workforce training have also been finalized.The Ministry of Trade, Industry and Energy announced on August 4 that the enforcement decree of the Semiconductor Special Act, which includes these provisions, was approved during a Cabinet meeting. This decree elaborates on the provisions delegated by the Semiconductor Special Act, enacted on February 10.The special committee, chaired by the President, will include senior officials from relevant ministries such as the Ministry of Trade, Industry and Energy, the Ministry of Economy and Finance, and the Ministry of Science and ICT. Additionally, experts with extensive experience in the semiconductor industry from the private sector, academia, and research institutions will be appointed as members.The committee will review key policies, including the basic and implementation plans for enhancing the competitiveness of the semiconductor industry. The Ministry of Trade, Industry and Energy expects this will systematically implement core policy tasks related to semiconductors and secure national policy momentum.The designation process for semiconductor clusters has also been clarified. When applying for cluster designation, applicants must submit a development plan that includes the basic goals, direction of development, name, location, area, current status of the regional semiconductor industry and infrastructure, and plans for workforce training and research foundation. The enforcement decree prioritizes regions outside the capital area to reflect local industrial conditions and characteristics, contributing to the creation of a semiconductor ecosystem and balanced national development.Funding for industrial infrastructure has also been established. The costs for establishing and operating the necessary industrial infrastructure for the cluster can be covered by the national and local governments, ranging from 50% to 100% of the total project cost. In particular, full funding will be available for facilities that contribute to redundancy, supply chain stability, and industrial safety.Support for workforce training is also included. Priority will be given to employment linkage and retraining for semiconductor companies and local professionals outside the capital area, and criteria and procedures for designating institutions for training semiconductor professionals have been established. Additionally, procedures for establishing basic and implementation plans, the scope of semiconductor industry statistics, and matters related to the establishment and operation of a special account for enhancing semiconductor industry competitiveness have been outlined.The Semiconductor Special Act and its enforcement decree will take effect on November 11. Minister of Trade, Industry and Energy Kim Jeong-kwan stated, "With the legal foundation established for national support of the semiconductor industry, we will closely cooperate with relevant ministries to promptly advance key policy tasks in accordance with the law."* This article has been translated by AI. 2026-08-04 12:12:00
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Samsung's Galaxy Z8 shatters 7-year pre-order record SEOUL, August 04 (AJP) - South Koreans are snapping up Samsung Electronics’ latest foldable phones at a blistering pace of 140 units per minute, shattering a seven-year pre-order record and proving that the foldable form factor has officially shed its novelty status to become a mainstream must-have. Over a seven-day pre-order window that wrapped up on Monday, the tech giant racked up a staggering 1.44 million domestic sales for its Galaxy Z8 series, comprising the Z Fold8, Z Fold8 Ultra, and Z Flip8. This blowout performance marks the highest pre-order volume in the entire history of the Galaxy franchise, finally dethroning the venerable Galaxy Note 10, which moved 1.38 million units over 11 days back in August 2019. The new foldables also easily eclipsed the early year momentum of the Galaxy S26 series, which saw 1.35 million pre-orders, and blew past the 1.04 million mark set by last year's Z Fold7 and Z Flip7. The undisputed heavyweight champion of this lineup is the Galaxy Z Fold8, which single-handedly drove the frenzy by accounting for 70 percent of all pre-orders. Samsung hit the sweet spot for content junkies by introducing a new "passport-like" 4:3 aspect ratio on its 7.6-inch main screen, a strategic pivot from the taller, narrower screens of previous generations that dramatically reduces black bars during video playback. Paired with a 5.5-inch cover screen, the device also tackles the foldable market's most notorious Achilles' heel: the screen crease. By deploying a first-of-its-kind "Flex Titanium" technology—which fuses a titanium alloy film with a reinforced titanium plate—Samsung claims to have virtually ironed out the fold while significantly boosting the device's overall durability. This design overhaul is not just winning over tech purists; it's aggressively reshaping Samsung's demographic reach. The company attributed the series' runaway success to surging interest from Millennials and Gen Z, alongside a massive influx of female customers. Shoppers in their teens to 30s made up a full 50 percent of all pre-orders on Samsung.com, and the number of young female buyers springing for the Fold8 and Fold8 Ultra more than doubled compared to its predecessor. Industry watchers suggest that the wider, more proportional 4:3 screen ratio and sleek design cues successfully courted a female demographic that previously skewed away from the bulkier Fold lineup. Aesthetically, consumers gravitated toward Cream and Graphite for the standard Fold8, while Ultra buyers favored Graphite and Violet Shadow. Flip8 fans leaned into Pink and Cream, with Samsung-exclusive shades like Pistachio and Mint also driving heavy online traffic. Beneath the hardware appeal, Samsung orchestrated a masterclass in aggressive promotional bundling to seal the deal amid a tough global economic climate. Staring down widespread "chipflation," the company maintained competitive pricing and dangled irresistible perks, most notably a "Double Storage" upgrade that bumped 256GB buyers up to 512GB at no extra cost. When paired with the enhanced "New Galaxy AI Subscription Club," the incentives became too good to pass up—one in two customers buying unlocked models on Samsung.com signed up for the service, which guarantees up to 50 percent of the 512GB model's residual value upon trade-in after one year. The company also rolled out a tailored "Flip Youth Subscription" for Z Flip8 buyers, bundling the trade-in guarantee with language learning app vouchers. With early activations kicking off Tuesday for domestic pre-order customers, Samsung is now preparing to take this momentum global, with the Z8 series slated for a rolling release across more than 100 countries starting August 7. 2026-08-04 12:08:57 -
Filtration of Nakdong River Water Reduces Algal Toxins by Up to 86% The initial results from the filtration experiment at the Munsan Water Treatment Plant in Daegu show significant improvements in key water quality indicators, including a reduction in algal toxins and turbidity. The government plans to assess whether this filtration method can effectively address the region's persistent water quality issues after expert verification.The Ministry of Climate, Energy and Environment announced on August 4 that it will hold the first verification committee meeting on August 5 at the Munsan Water Treatment Plant in Daegu to evaluate the water quality improvement and quantity assurance effects of the filtration experiment.Filtration water is naturally filtered through layers of sand and gravel at the riverbed, which can reduce pollutants and algae compared to direct river water intake, thereby alleviating the treatment burden on water treatment plants.To simulate actual filtration conditions, the ministry constructed a large experimental tank measuring 6 meters wide, 3 meters deep, and 7.5 meters high at the Munsan Water Treatment Plant. Two tanks with different combinations of sand and gravel have been operating since June 16, filtering over 30 tons of Nakdong River water daily.After about a month of operation, the total organic carbon (TOC) levels in the filtered water were measured at 2.3 to 2.7 ppm, which is 33% to 42% lower than that of Nakdong River water. Total phosphorus (T-P) decreased by 66% to 69%, and the algal toxin microcystin-LR was reduced by 82% to 86%. Turbidity also improved by 89% to 95%.Based on these results, the ministry reports that the filtration facility has consistently achieved a water quality equivalent to grade 1 TOC standards at the Andong Dam. However, further verification is needed to confirm the long-term effectiveness of water quality improvement and sufficient water intake capacity for practical application.The verification committee includes six water experts from the Korean Society of Water Environment and the Korean Society of Water Supply and Wastewater, along with three representatives from Daegu City and one from the ministry. The committee will evaluate experimental results monthly and discuss potential changes to operational flow rates and filter media composition.The ministry plans to publicly disclose water quality measurement results and committee discussions on its website starting August 6. Turbidity and pH levels will be measured daily, while TOC and biochemical oxygen demand (BOD) will be assessed weekly, and algal toxins and trace pollutants will be monitored monthly.Kim Ho-eun, the ministry's director of water policy, stated, "If the water filtered through this method is supplied to the treatment plant, it will enhance purification efficiency and provide cleaner tap water to the citizens of Daegu. We aim to establish a scientific and effective solution to Daegu's water issues."* This article has been translated by AI. 2026-08-04 12:04:10
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Korea Polytechnic University to Hire Record 120 Professors to Boost Semiconductor and AI Talent Korea Polytechnic University is set to conduct its largest-ever faculty recruitment drive, aiming to enhance its workforce in advanced strategic industries such as semiconductors and artificial intelligence (AI), while also focusing on the modernization of traditional industries and strengthening liberal arts education.The university announced on August 4 that it will hire 120 professors across 19 departments. The recruitment will include 26 for liberal arts, 22 for electrical engineering, 10 for semiconductors, 9 for industrial equipment, 8 each for mechanical and automation, 7 for information and communication technology, and 6 for automotive studies.This hiring initiative is focused on meeting the demand for educators in both new and traditional industries. In alignment with the government's three major mega-projects, Korea Polytechnic University plans to expand its faculty in advanced strategic sectors such as semiconductors, AI, and electrical engineering, while also selecting talent to lead the modernization of traditional industries driven by AI and digital transformation.The university also aims to strengthen its liberal arts education. It plans to systematically expand programs in communication, problem-solving, entrepreneurship and career planning, and psychological counseling, fostering not only technical skills but also the ability to adapt and grow in a changing environment.Applicants must meet the qualifications set by the Higher Education Act and have at least three years of practical experience in the field. The university encourages applications from skilled professionals with industry experience, including those recognized as Master Craftsmen, Professional Engineers, or International Skills Competition medalists. Applications will be accepted in August, with final appointments expected in December of this year.Lee Cheol-soo, the chairman of Korea Polytechnic University, stated, "Vocational education in the AI era must evolve beyond simple technical instruction to become more human-centered. This faculty recruitment will serve as a solid foundation for nurturing talent that creates future value connecting technology, liberal arts, profession, and life." 2026-08-04 12:04:10
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Over 545,000 Corporations to Make Interim Corporate Tax Payments by End of Month More than 545,000 corporations with a December fiscal year-end must make their interim corporate tax payments by the end of this month. Approximately 40,000 small businesses affected by high exchange rates, rising oil prices, and the Homeplus incident will have their payment deadlines extended by two months.The National Tax Service announced on August 4 that corporations subject to interim corporate tax payments must file and pay their taxes by August 31. This year, the number of corporations required to make interim payments has increased by 17,000 compared to last year.Interim corporate tax payments are designed to distribute the tax burden for businesses and ensure stable fiscal revenue by allowing companies to pay a portion of their annual corporate tax in advance. The payment amount can be calculated based on 50% of the corporate tax from the previous business year or by estimating the first half of the current year's business performance.However, about 2,600 corporations belonging to designated business groups by the Fair Trade Commission must report and pay based solely on their first-half performance. Small businesses within these groups can choose between the two calculation methods.Small businesses with an interim payment amount calculated based on the previous business year's tax liability of less than 500,000 won are exempt from filing and payment obligations. Newly established corporations, non-profit organizations with only interest income, and corporations with no income in the first half due to suspension of operations are also excluded from this requirement.If the payment amount exceeds 10 million won, installment payments are allowed. Small businesses can spread their payments over two months after August 31, while larger corporations can do so over one month.For amounts exceeding 10 million won but less than 20 million won, businesses must first pay 10 million won and then can pay the remainder in installments. For amounts over 20 million won, 50% of the payment can be made in installments.The National Tax Service will automatically extend the payment deadline for 40,474 small businesses facing difficulties due to high exchange rates, rising oil prices, and the Homeplus incident from August 31 to November 2. The total tax amount affected is 909.2 billion won.Businesses eligible for support due to high exchange rates include those in manufacturing, wholesale and retail, and food service sectors that have seen their value-added rates drop by more than 40% in the first half of this year compared to the second half of last year. This group includes 39,695 businesses with a total tax amount of 89.8 billion won.Additionally, 691 small businesses in the transportation sector, which have also experienced a value-added rate drop of over 40% during the same period, will benefit from the extended payment deadline, with a total tax amount of 8 billion won.Small businesses that suffered losses related to Homeplus, specifically those with more than 30% of their total sales coming from Homeplus last year, number 116, with a deferred tax amount of 3.8 billion won.Even if they are not automatically eligible for an extension, small businesses facing management difficulties can apply for a payment deadline extension, which the National Tax Service will review. Applications can be submitted through Hometax or by mail to the relevant tax office.* This article has been translated by AI. 2026-08-04 12:04:00
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South Korea Develops Eco-Design Standards to Meet EU Environmental Regulations The European Union (EU) will begin enforcing eco-design regulations starting in 2027, beginning with textiles and clothing. In response, the South Korean government is developing product evaluation standards to assist domestic companies. The aim is to establish a Korean standard that objectively measures product durability, ease of repair, and recyclability.The National Institute of Environmental Research, under the Ministry of Climate Energy and Environment, announced on August 4 that it will hold a kickoff meeting for the development of evaluation standards for the 'Korean Eco-Design System' on August 5 at the Seoul Station Library in Yongsan.Eco-design is an environmentally friendly design approach that enhances durability and repairability from the product design stage, thereby reducing waste and resource use. It considers not only the production and use phases but also the disposal stage, making it broader in scope than existing eco-friendly product certifications.The EU will implement the 'Eco-Design Regulation for Sustainable Products (ESPR)' in July 2024. Consequently, most products sold in the European market must meet enhanced environmental standards from the design phase. The EU plans to gradually expand the range of applicable items, starting with textiles and clothing in 2027.This research focuses on establishing domestic standards for objectively measuring and evaluating the eco-friendliness of products. The research team intends to analyze evaluation standards and measurement methods used in the EU and the international community to develop criteria applicable to various products.Common evaluation criteria will include ease of repair, the proportion of recyclable materials, and the extent to which resources can be recovered after disposal. Separate evaluation standards will also be developed for the textiles and clothing sector, where EU regulations will first apply.The National Institute of Environmental Research expects the results of this study to support domestic companies in responding to international environmental regulations and enhancing their export competitiveness. Following textiles and clothing, the plan is to gradually expand the development of evaluation standards to include tires, furniture, and electronic products.Park Jung-min, head of the Environmental Resources Research Division at the National Institute of Environmental Research, stated, "We will closely communicate with the industry to ensure our companies can secure competitiveness amid changing global environmental regulations, and we will establish reasonable evaluation standards that fit the realities of the domestic industry."* This article has been translated by AI. 2026-08-04 12:04:00
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Experts Provide On-Site Support to Address Small Business Challenges The Ministry of SMEs and Startups and the Small Business Agency announced on August 4 that they are continuously recruiting companies to participate in the '2026 Business Support Team On-Site Clinic' aimed at helping small businesses and micro-enterprises overcome management and technical difficulties.The on-site clinic is designed to address complex challenges faced by small businesses that cannot be resolved through phone or in-person consultations. Experts visit companies directly to analyze the causes of issues and provide tailored solutions in a one-stop support service.Notably, the Small Business Agency has joined as an operational organization this year, enhancing the expertise of the support provided. Utilizing a vast database of over 190 million corporate data points from the Small Business Agency and Korea Evaluation Data, the program offers AI diagnostic reports that combine expert field experience with data analysis for integrated consulting. The executing organizations include the Korea Management Consulting Association and the Korea Productivity Center, significantly expanding the pool of expert resources.The on-site clinic supports small businesses as defined by the Framework Act on Small and Medium Enterprises and prospective entrepreneurs. The support covers 12 areas, including startup, finance, accounting, taxation, import and export, and legal matters. General consultations are available for up to three days, while startups and export companies can receive assistance for up to seven days.Of the consultation fee of 350,000 won, 80% is subsidized by the government, allowing companies to pay only 70,000 won per day (excluding VAT) for high-quality consulting services.Ban Jeong-sik, the regional innovation director of the Small Business Agency, stated, "Our goal is to connect the challenges that small businesses find difficult to resolve on their own with tangible results, and we will support business growth through customized assistance based on on-site demand."* This article has been translated by AI. 2026-08-04 12:00:00
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SK hynix and SanDisk unveil HBF Blueprint for AI terabyte era SEOUL, August 04 (AJP) - The artificial intelligence boom has a voracious appetite for memory, and the industry’s leading architects just released a new blueprint to keep it fed. On Tuesday, SK hynix and SanDisk published the first open standard specifications for High Bandwidth Flash (HBF), officially firing the starting gun on a new structural race designed to cure the massive data bottlenecks threatening real-world AI deployment. As the industry transitions from training large-scale models to deploying them for everyday inference, the massive capacity required to process elongated context windows has exposed the physical and economic limits of existing High Bandwidth Memory (HBM). Released through the Open Compute Project (OCP) just six months after the companies formed their standardization consortium, the new HBF specifications define a hybrid approach to bridge this gap. The standards outline configurations for 8-high and 16-high NAND die stacks, achieving maximum capacities of 512 gigabytes (GB). Bandwidth is categorized into three tiers, ranging from 0.4 terabytes per second (TB/s) up to 3.0 TB/s. Crucially, the consortium adopted Universal Chiplet Interconnect Express (UCIe) as the physical connection standard. This open-standard interface ensures HBF can be seamlessly integrated with various GPUs and CPUs, regardless of the processor's manufacturer. The HBF ecosystem is already gaining heavyweight support, with Google and AI chip startup Tenstorrent officially joining the consortium to accelerate the technology’s market adoption and refine its technical maturity. This rapidly expanding alliance underscores a critical pivot in how silicon giants are approaching the next phase of AI computing. The urgency behind HBF stems from the explosive demands of inference workloads and the rise of "Agentic AI"—advanced systems that autonomously set goals, plan, and execute tasks. Unlike initial model training, real-time inference relies heavily on key-value (KV) caches to store intermediate data. As models process exponentially larger inputs, these caches can easily push into the terabyte range per system. While HBM acts as ultra-fast working memory directly attached to GPUs, scaling it to meet terabyte-level capacity is prohibitively expensive. To solve this, HBF introduces a vital middle layer between HBM and traditional solid-state drives (SSDs). By leveraging NAND flash, HBF sacrifices a fraction of DRAM's speed to provide massive, cost-effective capacity closely coupled with the compute unit. "As AI utilization expands rapidly, a comprehensive redesign of the entire data processing structure is required," Chun-sung Kim, Head of Solution Development at SK hynix, said ahead of his FMS 2026 keynote address. "Through HBF, we will expand the boundaries between memory and storage and contribute to a new architecture that enhances overall system efficiency." Joung-ho Kim, a professor at the Korea Advanced Institute of Science and Technology (KAIST) widely recognized as the "father of HBM," noted that the release of an open standard solidifies the industry's inevitable shift toward capacity-driven performance. "Once decoding begins during AI inference, throughput becomes entirely memory-bound," Prof. Kim told AJP. "HBM defined the last decade of AI training, but the reality of real-world deployment requires a tiered memory architecture. Establishing an open HBF standard now is the starting gun for the next decade of AI infrastructure." SK hynix executives are heavily emphasizing this multi-layered approach throughout FMS 2026. On Thursday, SK hynix, Google DeepMind, and SanDisk will host a joint panel titled "Breaking the Memory Wall with High Bandwidth Flash" to discuss this architectural restructuring across the broader AI ecosystem. Alongside the HBF push, SK hynix also showcased its 10th-generation (V10) 375-layer 4D NAND at the FMS exhibition booth. Delivering a 2.5-fold improvement in power-to-performance ratio compared to the previous generation, the new NAND is optimized for the power-hungry data centers driving the AI boom. The company plans to begin mass production of high-performance enterprise SSDs based on the V10 technology early next year to cement its leadership in the AI storage market. 2026-08-04 11:53:34 -
Naver Shares Surge 8% Following AI Factory Investment Announcement Naver's shares surged over 8% during trading after the company revealed specific investment and operational structures for its artificial intelligence (AI) factory project.As of 11:15 a.m. on August 4, Naver's stock was trading at 224,500 won, up 17,000 won (8.19%) from the previous trading day, according to the Korea Exchange.The increase in investor sentiment is attributed to Naver's disclosure of the contract structure for its AI factory initiative, which is backed by a $1 billion equity investment from Nvidia and up to $9 billion in infrastructure investment from Brookfield.According to reference materials released by Naver on August 3, the project is part of a larger plan announced in June to establish a total of 1 gigawatt (GW) of AI factory capacity, with the first phase targeting a 200 megawatt (MW) project.The business structure involves Nvidia investing approximately $1 billion (about 1.4 trillion won) in equity, while Brookfield will invest up to $9 billion to establish a special purpose vehicle (SPV). This SPV will own the necessary GPU and data center facilities for the AI factory, which Naver's AI factory operator will lease to provide AI computing services to businesses and institutions.This structure is expected to reduce Naver's initial investment burden for building large-scale AI infrastructure while ensuring a stable supply of the latest GPUs through collaboration with Nvidia. The company is also considering acquiring a minority stake in the SPV to secure stable computing resources.Previously, on July 27, Naver announced its collaboration plan, which involves leading the acquisition and operation of data center sites while Nvidia will supply GPUs. The goal is to expand infrastructure from 55 MW in the first half of 2027 to 100 MW by the end of 2027, and ultimately to 200 MW by 2028, culminating in a GW-scale AI infrastructure.The business hub will start with the hyperscale data center 'Gak Sejong' and plans to expand into global markets beyond the Asia-Pacific region, including Europe and the Middle East. Additionally, Naver aims to enhance operational efficiency by adopting Nvidia's next-generation data center platform 'DSX' and secure new revenue sources to meet global AI infrastructure demand.* This article has been translated by AI. 2026-08-04 11:48:00