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  • Transforming Cities into Campuses: Cultivating Global Talent from Youth
    Transforming Cities into Campuses: Cultivating Global Talent from Youth The competitiveness of nations in the era of artificial intelligence, known as the AX era, is not determined solely by technology and capital. The ability to discover new problems using AI, connect different knowledge, and implement ideas into technology, products, and services hinges on how many talented individuals can be secured.Talent acquisition does not begin only at the stage of recruiting already proven experts. It is crucial to identify promising youth early and help them establish connections with our country's education, research, and industrial ecosystems. The ability to build trust with potential global talent at an early stage is becoming a key factor in long-term competitiveness.The South Korean government and universities are emphasizing the attraction of international students, the internationalization of universities, and the settlement of outstanding talent in the country. However, much of the policy focuses on recruitment and management after students have already decided to study in Korea or applied to universities, as well as on employment and settlement after graduation.In fact, there are insufficient programs in place to help global youth experience Korea for the first time and to think about their aptitudes, career paths, and futures in connection with Korea. We are missing the 'front end' of attracting global talent.Major universities in the United States and Europe have long utilized summer and winter breaks to offer pre-college programs and campus experiences for youth. Students can experience college classes and life in advance while interacting with peers from around the world and exploring their majors and career paths. Universities meet potential outstanding students early, cities enhance their international recognition, and nations build long-term global talent networks.I have confirmed this gap through requests from Latin American parents. They noted that while there are various programs in North America and Europe for youth to experience universities and cultures during breaks, there are almost no systematic programs in Korea to engage with universities, advanced industries, and cultural content.Initially, I thought this interest might be limited to some K-pop fan families. Therefore, I directly contacted major private schools in Colombia, Mexico, Peru, and Miami. Many schools already operate educational and cultural experience programs that send students abroad in groups during breaks, and they expressed interest in considering Korea as a new destination if a reliable curriculum and safety management system were established. They confirmed their willingness to cover airfare, tuition, and accommodation costs if the quality of education and safety were guaranteed.Embassies of Latin American countries in South Korea initially expressed concerns about the safety and management of minors. However, after explaining that local school teachers would accompany students throughout their stay and that systematic protection measures would be established domestically, they showed interest in meaningful youth exchanges.Having lived in Latin America and worked as a diplomat in nine countries for about 40 years, I have supported outstanding local students in studying in Korea during my time at the embassy and continue to assist Latin American students in settling and finding careers in Korea. Based on this experience and local responses, there is sufficient demand for Korean-style pre-college programs.The issue is not that global youth lack interest in Korea. Rather, there is a lack of processes to connect their existing interest with education, career exploration, and long-term talent networks.Transforming Cities into CampusesSouth Korea does not need to simply replicate the university-centered programs of the United States and Europe. Instead, it has a more favorable environment to provide the integrated and experiential education that today’s youth desire.Young people do not want to hear only about specific majors at certain universities. They want to see how knowledge created at universities is utilized in research institutions and companies, and how an idea evolves into technology, products, services, and cultural content.South Korea offers a relatively safe living environment and convenient public transportation. Universities, research institutions, advanced companies, and cultural facilities are also densely located nearby. Students can experience artificial intelligence, semiconductors, robotics, biotechnology, future automobiles, and smart cities in a short period, while also observing how K-pop, dramas, films, games, and webtoons are planned and produced for the global market.The Korean Wave is a powerful attraction drawing the attention of global youth to Korea. However, Korea's true competitiveness lies not only in completed cultural products but also in the dynamic ecosystem where universities, research institutions, and companies collaborate to quickly turn ideas into technology, products, and services.Global youth can experience the entire process of how knowledge and ideas transition from research and technology to industry, market, culture, and society in Korea. This is not merely a tour; it is a career exploration that helps students discover what interests them and what problems they want to solve, while also fostering future education through collaboration with peers from diverse cultures and backgrounds.Therefore, there is no need to limit programs to the name of a single university. The city can serve as a platform where various universities, research institutions, companies, international organizations, and cultural institutions provide their expertise and facilities. Universities can offer major lectures and campus experiences, research institutions can showcase new technologies and research sites, and companies can demonstrate the process of turning ideas into products and services.Specialized operating organizations can manage accommodations, transportation, insurance, and daily living, while local school teachers and domestic guides can share responsibility for student protection. This way, the entire city becomes an open campus and a living textbook.Korean youth should also participate. Rather than merely introducing Korea to foreign students, Korean and global youth should live together, discuss, and collaborate on joint projects focusing on artificial intelligence, climate change, future cities, and cultural content. The process of reconciling differences with friends from different languages and cultures will cultivate creativity, communication skills, empathy, and leadership.The youth who brainstorm together today may meet again in 10 or 20 years as scientists, business leaders, policymakers, and cultural figures from their respective countries. The friendships and trust formed during youth are long-term human assets that cannot be created through one-time national promotions.Global Talent Platforms Created by Local GovernmentsIn urban pre-college programs, local governments should not merely be sponsors of events. They need to become platform builders that connect local universities, research institutes, companies, and cultural institutions, designing the city’s future industries and educational resources into a single international education program.Songdo is a suitable pilot area. It is home to foreign universities, international organizations, research institutions, and bio and information technology companies, and is close to Incheon International Airport. However, this concept should not be limited to Songdo. Daejeon can develop educational content based on its strengths in science and technology, Ulsan in automobiles and shipbuilding, Gwangju in artificial intelligence and culture, and Busan in marine and logistics.Local governments should not just allocate budgets to specific universities but should publicly select excellent educational programs linked to local industries to encourage cooperation among universities. Each university should participate in areas where they have competitiveness, rather than based on size or ranking, while companies and research institutions should provide field experiences and projects.Students can explore their aptitudes and interests by experiencing various universities, research institutes, and industrial sites. Universities can meet potential international students early, and companies and research institutions can connect with future global talent and overseas school networks. Cities will gain a new brand that showcases their educational and industrial competitiveness to the world.Alongside youth programs, separate programs for parents and teachers can also be operated. While students participate in classes and projects, parents and teachers can be introduced to Korea’s education system, healthcare, culture, local industries, and investment environment. The visit of one student can expand into ongoing exchanges between a family, a school, and even two cities and two countries.While ensuring safety, the door to possibilities must remain open.Although interest from overseas schools, parents, and embassies in South Korea has been confirmed, the process of realizing programs domestically has not been easy. Due to a lack of clear operational standards and role-sharing structures regarding the safety and responsibility of minors, universities and related institutions have been hesitant to participate in new programs.Student safety is paramount. Consent from guardians, accompaniment by local teachers, placement of domestic professional guides and living managers, separation of male and female accommodations, nighttime supervision, connections to medical institutions, insurance coverage, and emergency response systems must be established.However, the issue is not the existence of safety standards. The problem lies in the lack of clear standards and responsibility-sharing structures applicable to new forms of international education programs. If we try to fit them only into the existing frameworks of training activities or group tourism, it will be difficult to initiate programs even with sufficient protective measures.There is no need to launch a large-scale project from the outset. Local governments can lead small pilot programs involving universities, research institutions, companies, overseas schools, and specialized operating organizations. By verifying safety and educational effectiveness and addressing issues, these can develop into regular summer and winter courses. The government should establish standard guidelines that include the qualifications of operating organizations, student protection, accommodation, medical, and insurance standards, and the scope of responsibility in case of accidents to reduce uncertainties on the ground.The Korean Wave has drawn the attention of global youth to Korea. Now, we must connect that interest not just to temporary visits and consumption but to education, research, industry, and future talent networks.Urban pre-college programs are not about welcoming youth as temporary visitors. They represent a long-term national talent strategy that connects the entire city as a campus with global potential talent, universities, research, and industry.If a few weeks of experience can lead to online joint classes and follow-up projects, as well as an international alumni network after returning home, then a short visit can become a long-lasting human asset in diplomacy, economy, and culture for decades. Not every participant needs to enroll in a Korean university. If those who deeply experience Korea in their youth grow to become business leaders, scientists, civil servants, and cultural figures in their respective countries and collaborate with Korea, that alone would be a significant national asset.The competition to attract global talent begins not at the university admission stage, but at the point where global youth first discover their futures in a city. 2026-08-04 09:40:00
  • Woori Bank Revamps AI Chatbot System for Enhanced Customer Service
    Woori Bank Revamps AI Chatbot System for Enhanced Customer Service Woori Bank is enhancing its AI consultation system using generative artificial intelligence (AI).On August 4, Woori Bank announced the launch of its 'AI Chatbot and Consultation Bot Reconstruction Project' aimed at improving customer consultation convenience.The core of this initiative is the development of a 'hybrid AI consultation bot' that combines the existing scenario-based consultation method with generative AI. Routine tasks will be guided through predetermined procedures, while complex inquiries will be addressed by generative AI analyzing customer intent.The bank will also introduce 'multimodal consultation,' allowing customers to receive voice guidance over the phone while simultaneously handling tasks such as agreeing to terms, verifying documents, and issuing certificates via their smartphone screens.Additionally, the AI chatbot currently operating on the Woori WON banking platform will be revamped. Customers presently select consultation areas such as savings, loans, and subscriptions, but in the future, AI will analyze the questions and automatically connect them to the relevant consultation area.Woori Bank plans to officially launch the project this month, with the first phase of services expected to debut in December. The second phase is scheduled for implementation in May next year.Kim Sun-woo, head of Woori Bank's AI Data Business Division, stated, "By combining a proven consultation system with generative AI, we aim to enhance the autonomy and completeness of customer consultations. We will advance the AI consultation system to make it easier and more convenient for customers to access financial services."* This article has been translated by AI. 2026-08-04 09:32:20
  • 100 Years Later: Love Still Crosses the Tsushima Strait
    100 Years Later: Love Still Crosses the Tsushima Strait A century ago, on the morning of August 4, 1926, soprano Yoon Shim-deok and playwright Kim Woo-jin jumped into the Tsushima Strait from a ferry traveling from Shimonoseki, Japan, to Busan.Since that day, the sea has held onto a long story.It is a tale of how far one can go when love ultimately cannot reach its destination.At that time, Korea was in a period of turmoil under colonial rule. The concepts of the new woman and free love were just beginning to emerge.Their relationship was not entirely accepted. As a result, their deaths evoked both condemnation and sympathy. However, they were also seen as a reflection of a time when love, tradition, art, and reality collided.Some criticized them, while others called them ahead of their time.A century has passed.Today, we find it difficult to fully understand their choice. The world and the nature of love have changed significantly since then.Love in that era often had to overcome various obstacles: family, social expectations, and the times themselves. It was not merely an emotion but a force that shook the entirety of life.The enduring popularity of Yoon Shim-deok's song 'The Song of Death' is due to the intense and vivid emotions it conveys. The anxieties of a time that shook life and love remain embedded in the song.Our love today is somewhat different.Connections have become much easier. With just a cellphone, one can reach out to someone at any time. Yet, paradoxically, relationships often do not last as long. Unanswered messages, hearts that stop before deepening, and people distancing themselves to avoid getting hurt are increasingly common.It is not that we do not understand love.Perhaps it is because we understand it too well.Some say survival comes before marriage, while others claim that solitude is more comfortable than companionship. In a reality where even love must be calculated for efficiency and anxiety, hearts have become more cautious.Is that why?These days, love often does not end easily; rather, it tends to stop before it can deepen.A hundred years ago, the two disappeared in the middle of the Tsushima Strait. And a century later, we still love someone.However, we hesitate a little longer and fold our hearts a little more quietly than before.The sea remains unchanged, but perhaps what cannot be crossed is not the Tsushima Strait, but the human heart.* This article has been translated by AI. 2026-08-04 09:32:00
  • Heat Wave Continues in Western Regions, Seoul and Gwangju Soar to 38 Degrees
    Heat Wave Continues in Western Regions, Seoul and Gwangju Soar to 38 Degrees On August 4, a strong east wind is expected to bring extreme heat to the western regions of South Korea, including the metropolitan area.According to Yonhap News, a high-pressure system in the lower atmosphere has moved north since the previous day, currently positioned over North Korea. This has resulted in an east wind blowing into South Korea, causing temperatures to rise due to a phenomenon known as foehn, where air heats up as it descends from mountains.As a result, the eastern coastal areas of Gangwon and northern Gyeongsangbuk-do will experience relatively cooler temperatures due to the east wind.Heat wave warnings have been issued and are in effect for regions including Boseong, Yeosu, Gwangyang, Suncheon, southern and northern Gokseong, eastern Gwangju, Osan, Hanam, western Yeoju, southeastern and southwestern Seoul, with temperatures expected to exceed 39 degrees Celsius or feel like 38 degrees Celsius.The highest daytime temperatures nationwide are projected to range from 30 to 38 degrees Celsius.Seoul and Gwangju are expected to reach 38 degrees, Incheon and Daejeon 37 degrees, Daegu 36 degrees, and Ulsan and Busan 34 degrees. Most other regions will also feel temperatures around 35 degrees.Additionally, from afternoon to evening, light rain is forecasted, with 5 to 60 mm expected in Honam, 5 to 40 mm in southern Gyeonggi, Chungcheong, western Gyeongsangbuk-do, and western Gyeongsangnam-do, and around 5 mm in the mountainous and central areas of Jeju.In the afternoon, ozone levels in the metropolitan area, Chungcheong, Honam, and Gyeongnam are expected to reach 'bad' levels, so caution is advised.* This article has been translated by AI. 2026-08-04 09:32:00
  • Kakao Enhances AI Voice Generation Technology with Kanana-o
    Kakao Enhances AI Voice Generation Technology with Kanana-o Kakao has advanced the voice generation technology of its proprietary omni artificial intelligence (AI) model, Kanana-o. The improvements allow the system to control not just natural reading but also tone, emotion, speed, and volume based on user natural language commands.On August 4, Kakao revealed the voice generation capabilities of Kanana-o through its tech blog. The new model generates speech that reflects the desired speaking style input by users in natural language.For instance, it can understand commands like "read very quickly," "read in a low voice," "read in a sad voice," and "read in a Gyeongsang dialect," adjusting speed, volume, pitch, emotion, and intonation accordingly.It can also perform role-based commands such as "like a sports commentator," "like an announcer," or "like reading a storybook." The system can handle complex commands that include multiple conditions, such as "read quickly in a low, sad voice." While primarily trained in Korean, it can also execute the same speech commands in English.Performance has also improved. Kanana-o scored 94.50 on the Korean benchmark for evaluating speech command execution, InstructTTSEval, surpassing the GPT-4 Mini TTS, which scored 91.10.The speed and efficiency of voice generation have been enhanced as well. Kakao applied its proprietary voice tokenizer, LM-SPT, which compresses speech into fewer tokens, reducing the amount of data the AI needs to process and increasing voice generation speed.LM-SPT has demonstrated excellent performance in evaluations comparing the speech understanding and generation capabilities of various language models in both Korean and English. 2026-08-04 09:28:00
  • Chinas Beidaihe Meeting Begins Amid Speculation on 5th Plenary Session
    China's Beidaihe Meeting Begins Amid Speculation on 5th Plenary Session The Beidaihe Meeting, an informal gathering of China's current and former leadership, is believed to have commenced. This year's meeting is expected to focus on the upcoming 5th Plenary Session of the 20th Central Committee, scheduled for October.According to state-run Xinhua News Agency, Cai Qi, a member of the Politburo Standing Committee and Secretary of the Central Secretariat, met with experts on vacation in Beidaihe, Hebei province, on August 3 to encourage them.Xinhua reported that Cai Qi conveyed sincere greetings from President Xi Jinping, representing the Communist Party of China and the State Council, to experts from various fields. He stated, "The period of the 15th Five-Year Plan (2026-2030) is a crucial stage for building a strong education, science and technology, and talent nation. I hope experts will promote the spirit of scientists and achieve new results in their respective fields to contribute more to the construction of socialist modernization." The encouragement event was attended by Shi Taifeng, head of the Central Organization Department, and Wu Zhenglong, Secretary-General of the State Council.Since 1998, the Communist Party of China and the State Council have invited outstanding experts from across the country to spend their summer vacation in Beidaihe. This year's invitees included representatives from basic research, core technology, and strategic frontier science and technology fields.The public disclosure of Cai Qi's visit to Beidaihe has led to interpretations that the meeting is indeed taking place. The Communist Party traditionally holds the Beidaihe Meeting at this time of year, where senior and current leaders engage in informal political discussions. The details and schedule of the meeting are not disclosed to the public, but the announcement of leaders' activities in Beidaihe is seen as a signal that the meeting is underway.This year's Beidaihe Meeting is expected to discuss the 5th Plenary Session, which will focus on key issues such as the "report on the work of the Politburo to the Central Committee" and the study of several major issues to persistently promote strict governance of the Party.Notably, there are speculations that over 30 Central Committee members may be expelled during this 5th Plenary Session, drawing renewed attention to the power dynamics within the Communist Party. These individuals include high-ranking officials who have already fallen from grace, with 11 being military Central Committee members.* This article has been translated by AI. 2026-08-04 09:20:10
  • Vietnams Kim Sang-sik Leads Team to 3-0 Victory Over Indonesia in ASEAN Cup
    Vietnam's Kim Sang-sik Leads Team to 3-0 Victory Over Indonesia in ASEAN Cup Vietnam's national football team, under coach Kim Sang-sik, achieved a decisive 3-0 victory against Indonesia in the ASEAN Cup 2026, shaking up Group A standings. Following a draw against Singapore, the pressure on the team lifted, and Kim even joked about the 'white shirt' he had worn during the previous match.On August 3, at 8:30 PM local time (10:30 PM KST), Vietnam defeated Indonesia at the Pakansari Stadium, earning 7 points to lead Group A. Although tied on points and head-to-head record with Singapore, Vietnam's goal difference of +10 surpassed Singapore's +3.Kim Sang-sik Returns in Black Shirt, Relieves Pressure with Away VictoryVietnam took control of the match early on. In the 6th minute, strong pressure forced a mistake from the Indonesian defense, leading to the opening goal by Van Bi, who scored with a low left-footed shot past goalkeeper Arga Winata.Building on their momentum, Vietnam added a second goal in the 15th minute. Hai Long received a penetrating pass from Le Pham Thanh Long, drove into the penalty area, and found the net with a right-footed shot. In the second half, Vietnam's defense held firm against Indonesia's attacks, and in the 71st minute, Suan Son scored the third goal with a left-footed shot after receiving a pass from Hoang Duc.In the post-match press conference, Kim emphasized the significance of the away victory, stating, "It was a very difficult away match, and we gave our best. Securing 3 points has brightened the situation for the Vietnam national team." He expressed gratitude for the players' efforts and thanked the fans who supported the team both in the stadium and on television, adding, "We will continue to prepare for the next match." This victory also showcased Kim's effective player selections. He noted that the preparation for this match was not significantly different from the Singapore game, but praised players like Hai Long for their strong performances. He highlighted Tien An's contributions, saying, "Tien An moved a lot and played a very important role for the team. He had a great performance. Many of our opportunities started with him." From 'White Shirt' Jokes to Suan Man's Kiss: Vietnam's Mood ShiftsKim's black shirt became a topic of conversation after the match. He joked about the white shirt he wore during the draw against Singapore, saying, "I have already thrown away that white shirt and told my wife the same." Unlike his anxious demeanor during the previous match, he appeared relieved after the victory over Indonesia.Immediately after the match, defender Pham Suan Man was seen bowing to Kim and kissing his black shirt, a gesture that brought smiles to Kim's face as the team celebrated their away victory together. Suan Man contributed significantly to the team's success with his active play.Kim also sent a warm message to Nguyen Dinh Bac, who was substituted early in the Singapore match. He expressed regret over not winning against Singapore, suggesting it might have been due to his early substitution of Dinh Bac. However, he acknowledged that everything is part of the process and praised Dinh Bac for showing his full potential and overcoming many challenges in this match, saying, "I want to tell Dinh Bac that he did really well today." Meanwhile, local fans in Indonesia were left shocked by the defeat. The largest Indonesian football community on Facebook, Sepakbola Indonesia Fansbook III, posted after the match, "We suffered a humiliating defeat to Vietnam. We conceded 3 goals and struggled to penetrate their defense for 90 minutes. The entire team was shaken. We need to reassess everything before the match against Singapore." However, some Indonesian fans viewed the loss as a temporary setback, expressing hope to meet Vietnam again in the finals to avenge this defeat. One fan remarked, "Indonesia played terribly today, and the coach failed to make meaningful changes. But there is still a chance, and we will meet Vietnam again in the finals for revenge." Another fan acknowledged Vietnam's quality, stating, "We must recognize that Vietnam is a really strong team. They played like lions on the field." Looking ahead, Vietnam will face Cambodia in their final group stage match on August 7, while Indonesia will take on Singapore. With Cambodia and Timor-Leste already eliminated, Vietnam's commanding victory over Indonesia places them in a favorable position for advancing to the semifinals. The defending champions, led by Kim Sang-sik, aim to reach the finals and secure a second consecutive title.* This article has been translated by AI. 2026-08-04 09:16:00
  • South Korean Defender Lee Han-beom Joins Belgian Club Club Brugge
    South Korean Defender Lee Han-beom Joins Belgian Club Club Brugge South Korean national team defender Lee Han-beom has left Denmark to join Club Brugge, a powerhouse in the Belgian Pro League.Club Brugge announced Lee's signing on August 3 through the club's official website. The contract runs until 2029, and he will wear the number 3 jersey.While the specific transfer fee has not been officially disclosed, local media, including Denmark's Tipsbladet, report that the total amount, including options, is around €10.5 million (approximately 17.4 billion won). The contract also includes a sell-on clause, which stipulates that Lee's former club, Midtjylland, will receive 15% of any future transfer fee.This transfer significantly boosts Lee's market value. When he left FC Seoul for Midtjylland in August 2023, the transfer fee was €1.5 million (about 2.5 billion won). In just three years in Europe, he has increased his worth sevenfold.Lee's journey in Europe has not been without challenges. In his first season, he made only two appearances, struggling to secure a starting position. However, he gradually increased his playing time and became a key defender for the team. Notably, in May, he scored a dramatic header in the final minutes of the Danish Cup final against Copenhagen, securing the trophy for his team.His stable performance at the club level has also strengthened his position in the South Korean national team. Lee contributed to the team's gold medal win at the 2023 Hangzhou Asian Games and started all three group stage matches in the recently concluded 2026 FIFA World Cup in North and Central America.Club Brugge is a traditional powerhouse in the Belgian league, having won the title 20 times, making it the second-most successful club in league history, behind Anderlecht, which has 34 titles. Last season, they also secured the league championship, earning a direct ticket to the group stage of the 2026-2027 UEFA Champions League.With this transfer, Lee will have the opportunity to compete in the group stage of the UEFA Champions League for the first time in his career.* This article has been translated by AI. 2026-08-04 09:16:00
  • North Korea slams US and allies for spreading false information over IT workers
    North Korea slams US and allies for spreading 'false information' over IT workers SEOUL, August 4 (AJP) - North Korea on Tuesday criticized a joint alert issued by about a dozen countries including Japan, South Korea, and the U.S. over its alleged illegal earning of foreign currency through computer and technology workers, dismissing it as "false information." In a statement carried by the state-run Korean Central News Agency (KCNA), a spokesperson for North Korea's Foreign Ministry said the alert by the U.S. and its allied countries was a "stereotyped political accusation" intended to tarnish the country's image. The spokesperson also dismissed "repeated claims" by members of the Multinational Sanctions Monitoring Team (MSMT), an independent international coalition that monitors and reports on violations of United Nations (UN) sanctions against North Korea, as "unreliable and false." The spokesperson argued it was "absurd" for the U.S., which the statement said monopolizes key cyber resources and operates the world's largest cyber force, to accuse other countries of posing "cyber threats." Tuesday's statement came just days after the U.S. and 10 other countries issued the alert last Friday accusing North Korean information technology (IT) workers of generating revenue to help fund Pyongyang's weapons of mass destruction programs. "North Korea relies upon a network of skilled Information Technology (IT) workers, deployed within and outside of North Korea, to obtain false identities and remotely earn income to fund North Korea's unlawful nuclear weapons and ballistic missile programs," the alert released by the U.S. State Department said, urging governments, companies and institutions worldwide to strengthen identity checks and step up measures. 2026-08-04 09:14:25
  • Consumer Prices Fall to 2% in July Amid Rising Costs for Oil and Services
    Consumer Prices Fall to 2% in July Amid Rising Costs for Oil and Services Consumer prices in South Korea have dropped to a 2% increase for the first time in three months, thanks to stable international oil prices. However, the burden of living costs remains high. Prices for petroleum products continue to rise at double-digit rates, and the cost of electronic devices has surged due to increased semiconductor prices.According to the National Data Agency's report on consumer price trends for July 2026, the consumer price index reached 119.77 (2020=100), marking a 2.8% increase compared to the same month last year. This is the first time the inflation rate has returned to the 2% range in three months. Earlier this year, consumer prices maintained a 2% increase from January to April, before rising to over 3% in May and June.By category, goods prices rose by 3.0% year-on-year, while service prices increased by 2.6%. The government has noted that oil prices have stabilized, yet they still show significant increases. Diesel prices surged by 21.5%, gasoline by 12.6%, and kerosene by 20.5%.The rise in electronic device prices is also notable. Computers increased by 25.1%, and portable multimedia devices rose by 22.5%, contributing to the overall consumer price increase. Additionally, the price of electric vehicles rose by 6.2% compared to last year.Lee Doo-won, an economic statistics officer at the National Data Agency, stated, "The price increase in portable multimedia devices is due to rising semiconductor prices. The increase in electric vehicle prices is attributed to new product launches, renewals of existing products, and the impact of the restoration of the individual consumption tax, resulting in a 6.2% rise compared to the same month last year."Service prices rose by 2.6%. Public services increased by 1.4%, housing costs by 1.1%, and personal services by 3.5%. The rise in prices is attributed to the vacation season, with costs for overseas group travel increasing by 20.0%.Electricity, gas, and water prices saw a modest increase of 0.4% compared to the same month last year, which is attributed to the application of progressive rates during the summer.Food prices also contributed to the overall inflation. Prices for domestically sourced beef rose by 5.7%, imported beef by 8.7%, pork by 1.8%, and mackerel by 7.0%. Other notable increases included rice at 7.9%, eggs at 7.5%, and green onions at 18.3%.The fresh food index increased by 2.5% year-on-year. Fresh fish prices rose by 4.4%, while fresh vegetables and fruits fell by 4.3% and 4.7%, respectively. The living cost index increased by 2.5% compared to July last year, with food prices rising by 1.6% and non-food items by 3.2%. The living cost index, including rent, rose by 2.3%.The core inflation index, excluding agricultural and petroleum products, increased by 2.5% year-on-year, while the OECD's index, excluding food and energy, rose by 2.6%.While consumer prices have returned to the 2% range, there are forecasts that the increase may rise again in August. Analysts suggest that uncertainties in international relations due to the Middle East conflict and the base effect from last year's SK Telecom data breach, which led to reduced communication costs, could drive prices higher.Lee noted, "With the Middle East conflict unresolved and recent fluctuations in international oil prices, we need to monitor the potential for price increases in processed foods due to rising oil prices in the second half of the year. Uncertainties related to exchange rates and international raw material prices remain, indicating that there may be temporary upward pressures on prices in August."* This article has been translated by AI. 2026-08-04 09:12:00