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  • Gunpo City Council Proposes First Legislative Draft, Seeks Citizen Input
    Gunpo City Council Proposes First Legislative Draft, Seeks Citizen Input Gunpo City Council has announced its first legislative proposal since the opening of the 10th council, introducing 17 local regulations and seeking input from citizens. According to the council on August 3, this legislative proposal is set to be discussed at the 289th regular session scheduled for September, encompassing a total of 17 items, including 14 ordinances and 3 rules. Among these, there are 8 new proposals and 9 amendments, either partial or complete. The legislative proposals include an ordinance to promote and foster the robotics industry, aligned with the establishment of a wearable robot demonstration center by the Gunpo Industrial Promotion Agency, as well as various issues closely related to citizens' lives, such as preventing elder abuse, protecting elderly victims, addressing gender wage gaps, and promoting urban regeneration. The proposals are categorized by committee, with 7 items under the Council Operations Committee, 4 under the Administrative Welfare Committee, and 6 under the Industry and Construction Committee. The main sponsors of the proposals include Shin Kyung-won with 9 items, Park Sang-hyun (People Power Party) with 5 items, Lee Dong-han with 2 items, and Lee Hye-seung with 1 item. Local citizens have shown interest in the legislative initiatives that encompass various fields, including future industry development, welfare policies, and the introduction of AI in administration. In particular, there is anticipation regarding how effectively the voices of the community will be reflected in actual policies, given the established procedure for collecting public opinions in advance. The legislative proposals can be reviewed on the Gunpo City Council website under the 'Council News - Legislative Proposals' section. Chairman Lee Woo-cheon stated, "This legislative proposal reflects the council members' efforts to improve inconveniences in citizens' lives and prepare for future changes in the region," adding, "We will carefully review the submitted public opinions to enhance the quality of local regulations and ensure they translate into practical policies." Meanwhile, the council plans to review the feedback received during the legislative proposal period and inform the submitters of the outcomes.* This article has been translated by AI. 2026-08-03 14:52:00
  • Busan Launches AI Care Bot for Childcare Services
    Busan Launches AI Care Bot for Childcare Services The city of Busan announced it will pilot an AI-based automated consultation system, the 'Busan Childcare Voice Bot,' until November 30, to provide comprehensive childcare information during administrative downtime, including nights, weekends, and holidays.The 'Busan Childcare Voice Bot' consolidates information from six different childcare sectors, allowing citizens to easily and quickly find information about childcare facilities anytime, anywhere.Any citizen in need of childcare can call the dedicated number 24/7, providing details such as their child's age, preferred time, and location to receive tailored childcare information via mobile text. The services include home care through 'Childcare Services' and facility care options like 'Hourly Childcare,' '365 Open Hourly Childcare Centers,' 'Community Child Centers,' 'Together Care Centers,' and 'After School Academies,' totaling six sectors.Busan's claim of being 'the first in the nation' does not imply that AI consultation services are entirely new in South Korea.A representative from Busan's Women and Family Affairs Department stated, "While there are call center services with human operators in places like Gyeonggi Province, we believe Busan is the first to implement AI that recognizes user voices and provides childcare information." This means that while AI consultation services are not new nationwide, applying them specifically to the childcare sector is a first.Before the pilot, the city conducted approximately 1,500 tests with facility staff to enhance AI learning and refine consultation scenarios.A city official noted, "In initial tests, there were instances where the AI struggled to recognize voices due to the Busan dialect, and we made immediate corrections through the vendor whenever issues were identified. We did not analyze the initial voice recognition accuracy separately due to this refinement process."If the AI misinterprets user input or repeatedly provides incorrect information, alternative consultation routes will be offered. During business hours, if errors exceed a certain threshold, calls will be redirected to the Busan call center. Outside of business hours, users will receive a text with a link to access the six childcare information options online.The city plans to compare actual user input with the words recognized by the AI based on call logs and will adjust the consultation scenarios accordingly.This pilot project is funded solely by the city of Busan, with a total budget of approximately 99 million won, which includes setup costs and monthly fees for this year. The project was developed based on an already commercialized AI consultation service (in SaaS form), allowing for a relatively quick setup by refining existing scenarios rather than developing everything from scratch.Regarding annual maintenance costs, the official stated, "This year, we will only incur monthly fees after the setup is complete," estimating the monthly fee to be around 1.45 to 1.46 million won.The system was developed through a negotiated contract with a company based in Seoul under a digital service catalog agreement. The official explained, "AI-related contracts have a special contract form that allows for single-source contracts with registered vendors in the procurement office. At the time of contract review in February, we initially identified one vendor capable of providing the desired SaaS service, and by the time of the contract, there were about two."Regarding local vendor participation, the city focused on companies that met contract requirements, including registration in the procurement office's digital service catalog and security verification.Busan plans to analyze consultation history, usage numbers, citizen satisfaction, and feedback after the pilot ends on November 30 to inform the official launch. However, specific criteria for determining the transition to full operation, such as usage numbers, voice recognition accuracy, and satisfaction levels, have not yet been established.A city official remarked, "As this is the first case of applying AI to provide childcare information, it was challenging to set specific metrics in advance. We plan to comprehensively assess satisfaction during the pilot period and gather open-ended feedback for evaluation."The city will continuously accept user satisfaction and improvement suggestions through external links included in text notifications and will utilize identified complaint types and error cases from consultation history to enhance the system. Information on childcare facility operations will also be regularly updated.Kim So-young, Director of the Busan Women and Family Affairs Bureau, stated, "Through the childcare voice bot, we aim to ensure citizens can access necessary information without time constraints. We will rigorously verify voice recognition and consultation scenarios during the pilot period to enhance service reliability and user convenience." 2026-08-03 14:52:00
  • Spider-Man: Brand New Day Surpasses 3 Million in First Weekend, Sets 2026 Box Office Record
    Spider-Man: Brand New Day Surpasses 3 Million in First Weekend, Sets 2026 Box Office Record 영화 '스파이더맨: 브랜드 뉴 데이'가 개봉 첫 주말 225만 관객을 동원하며 올해 극장가 최고 흥행 출발을 알렸다.According to the integrated ticket sales network on August 3, 'Spider-Man: Brand New Day' attracted 2,252,469 viewers over its opening weekend from July 31 to August 2, securing the top spot at the box office. The cumulative audience has surpassed 3.38 million.This marks the first film of the year to draw over 2 million viewers in its opening weekend. It also represents the highest weekend performance of the year to date.'Spider-Man: Brand New Day' has surpassed the previous record set by 'The King’s Affection,' which attracted 1,750,960 viewers from February 27 to March 1. Notably, 'The King’s Affection' has accumulated a total of 16.91 million viewers, making it the second highest-grossing film of all time, highlighting the impressive early success of 'Spider-Man: Brand New Day.'The film’s momentum has been swift since its release. On its opening day, July 29, 'Spider-Man: Brand New Day' drew over 680,000 viewers, claiming the top box office position. By the second day, it had surpassed 1 million viewers, and it is on track to exceed 4 million by the end of its opening weekend.The summer box office is now leaning in favor of 'Spider-Man: Brand New Day.' The existing Marvel and Spider-Man fanbase, along with an influx of teenage viewers during summer break, has expanded its audience. Pre-sales continue strong into the second week, raising interest in its long-term box office potential.Internationally, the film is also performing well. According to Box Office Mojo, 'Spider-Man: Brand New Day' earned $355 million from 4,487 theaters in North America over its opening weekend. This figure is just $2 million shy of the all-time opening weekend record of $357 million set by 'Avengers: Endgame' in 2019.As a result, 'Spider-Man: Brand New Day' has surpassed the $260 million opening weekend of 'Spider-Man: No Way Home,' ranking second in North American opening weekend earnings. It has also grossed $572 million outside North America, bringing its global total to $927 million.Audience reactions have been positive. The film holds a 90% critic score and a 98% audience score on Rotten Tomatoes, and it received an A grade in CinemaScore exit polls.'Spider-Man: Brand New Day' is an action blockbuster that follows Peter Parker, who has been forgotten by everyone since 'Spider-Man: No Way Home,' as he confronts a mysterious enemy who remembers his identity. The story depicts Peter Parker gaining uncontrollable powers due to DNA mutation and his struggle to protect his loved ones from new threats.Directed by Destin Daniel Cretton, the film stars Tom Holland, Zendaya Coleman, Sadie Sink, Jacob Batalon, Jon Bernthal, Tramel Tillman, Michael Mando, and Mark Ruffalo.'Spider-Man: Brand New Day' is currently playing in theaters nationwide.* This article has been translated by AI. 2026-08-03 14:44:00
  • Han Byeong-do Criticizes People Power Party for Threatening Veto Over Criminal Procedure Law
    Han Byeong-do Criticizes People Power Party for Threatening Veto Over Criminal Procedure Law Han Byeong-do, the acting leader of the Democratic Party and floor leader, criticized the People Power Party on August 3, stating, "The People Power Party rushed to the Blue House regarding the criminal procedure law amendment, even mentioning impeachment and threatening a veto."During a public hearing on the criminal procedure law amendment held at the National Assembly, Han urged, "The People Power Party must immediately stop its attempts to incite public anxiety with baseless rumors and to reverse judicial reform."He further pointed out, "The People Power Party is misleading the public by claiming that only by maintaining direct investigative powers can the safety of the people be ensured."Han emphasized, "The criminal procedure law amendment is not the end of judicial reform but the beginning of a criminal justice system for the people." He added, "The Democratic Party will do everything possible to ensure that a criminal justice system for the people is firmly established in the field. We will prepare organizations, personnel, and budgets without any issues and will closely monitor inter-agency cooperation."He also stated, "We will prepare follow-up legislation to reduce confusion in the field," and pledged, "We will ensure the stable launch of the Serious Crimes Investigation Agency and the Prosecution Service, which will begin operations on October 2, and create a reliable criminal justice system."* This article has been translated by AI. 2026-08-03 14:44:00
  • Hyundai Steels Q2 profit slides 43% on year despite quarterly rebound
    Hyundai Steel's Q2 profit slides 43% on year despite quarterly rebound SEOUL, August 03 (AJP) - Hyundai Steel, South Korea's second-largest steelmaker, revealed that its second-quarter operating profit tumbled about 43 percent from a year earlier. According to regulatory filings released Monday, the steelmaker posted an operating profit of 57.7 billion won ($40.3 million) for the three months ended June, down 43.3 percent from a year earlier. Net profit came in at 12.1 billion won, while revenue edged up 2.7 percent on year to 6.11 trillion won. The picture brightened against the previous quarter, with operating profit surging more than fourfold from a weak first quarter and sales climbing 6.4 percent. Yet the first-half tally told a starker story as cumulative operating profit fell 11.2 percent from a year earlier to 73.4 billion won, leaving the company well behind its 2025 pace. Hyundai Steel struck an upbeat tone, attributing the sequential gains to firmer shipments of bar and shaped-steel products and higher prices. "Profitability is expected to improve as construction conditions gradually recover in the second half, buoyed by expanding investment in advanced domestic industries," the company said, adding that borrowings had risen temporarily on its new U.S. mill investment. Looking ahead, the company said it would chase demand tied to data centers, next-generation nuclear plants and semiconductor fabrication facilities, having already won orders to supply steel for seven new data-center projects this year. Shares of Hyundai Steel traded at 24,500 won per stock at 2:34 p.m., 7.21 percent lower than the previous session. 2026-08-03 14:43:12
  • Former Trump aide says AI can redefine Korea-U.S. alliance
    Former Trump aide says AI can redefine Korea-U.S. alliance SEOUL, August 03 (AJP) - South Korea's AI ambitions align with Washington's push to redefine the alliance beyond traditional security, as the two countries seek deeper cooperation in artificial intelligence, advanced manufacturing and economic security, a former White House national security official under President Donald Trump said Monday. "Economic security is national security," Alexander B. Gray told a National Assembly forum in Seoul. "South Korea's ambition to become one of the world's leading AI powers could provide tremendous value to the United States." Gray, who served as deputy assistant to the president and chief of staff of the White House National Security Council during Trump's first administration, said artificial intelligence, quantum computing, sixth-generation telecommunications and research security should become the next pillars of the bilateral relationship. He described South Korea as "a trusted U.S. partner in AI," citing its world-leading semiconductor industry, advanced manufacturing base and robust technology ecosystem. Closer cooperation in emerging technologies and resilient supply chains would strengthen both countries as geopolitical competition intensifies across the Indo-Pacific, he said. Speaking at the forum, titled "A New Framework for Korea-U.S. Economic Cooperation," Gray argued that the alliance should evolve beyond its military foundations into a broader economic-security partnership spanning AI, critical technologies, trade, advanced manufacturing and supply-chain resilience. The remarks come as Seoul and Washington seek to broaden their alliance while managing frictions over tariffs, visa rules and proposed digital regulations affecting U.S. technology companies. Gray said those differences should be managed through "reciprocity," arguing that both countries must see tangible economic and strategic benefits from deeper cooperation. Tariff negotiations, he said, could create a more predictable environment for Korean companies investing in or exporting to the United States, while American industry would benefit from Korean strengths in shipbuilding and advanced manufacturing. Rep. Park Choong-kwon, a member of the National Assembly's Foreign Affairs and Unification Committee, said the longstanding formula of relying on the United States for security and China for economic growth had become obsolete as economic and national security increasingly converge. Forum host Rep. Kim Tae Kyu echoed that view, saying the bilateral relationship should expand into an economic-security alliance encompassing industry, technology and supply chains rather than remain centered primarily on military cooperation. Lee Hyo-young, an international trade professor at the Korea National Diplomatic Academy, said the relationship has entered a new phase since the Korea-U.S. Free Trade Agreement took effect in 2012, evolving from a conventional trade partnership into one focused on critical technologies, supply-chain security and strategic industries. She said growing geopolitical rivalry and economic-security policies in both countries were creating new opportunities for cooperation while also increasing the need for closer policy coordination. Park Hong Il, director of the Korea-U.S. Trade Cooperation Division at the Ministry of Trade, Industry and Energy, said South Korea's manufacturing strengths make it an increasingly valuable partner as Washington seeks to strengthen strategic supply chains and preserve the international role of the U.S. dollar. He said bilateral investment commitments—potentially reaching $500 billion when related public and private projects are combined—could further integrate the two countries' industrial ecosystems and deliver practical benefits to both economies. Participants broadly agreed that investment pledges alone would not be enough. They called for more predictable tariff policies, workable visa arrangements, closer consultation on digital regulation and deeper cooperation to protect critical technologies and build resilient supply chains. 2026-08-03 14:41:41
  • Experts See Potential for Hormuz Agreement, But Iran Nuclear Talks Remain Distant
    Experts See Potential for Hormuz Agreement, But Iran Nuclear Talks Remain Distant President Donald Trump indicated that an agreement with Iran regarding the opening of the Strait of Hormuz is possible and hinted at a resumption of talks that include nuclear issues. However, experts believe that while an agreement on reopening the strait may be feasible, significant differences remain between the two sides regarding nuclear negotiations.Charles Kupchan, a senior fellow at the Council on Foreign Relations, told Al Jazeera, "President Trump clearly prefers diplomacy over continuing the war. This is not a war that has gone well for him."Kupchan assessed that there is a possibility of establishing a framework for negotiations to reopen the Strait of Hormuz, but he stated, "Absolutely not" regarding the likelihood of a substantive agreement on nuclear issues, adding, "Even if an agreement is possible, we are still a long way from it."He noted that Iran has confirmed its ability to use the current conflict as leverage in negotiations over the Strait, suggesting that the operation of the strait will not return to pre-war conditions. However, he analyzed that both the U.S. and Iran have faced significant burdens from the conflict, indicating that "there is a possible agreement on the strait issue."Kupchan also pointed to concerns about the escalation of conflict as a factor that has prompted Trump to pursue negotiations. He referenced recent attacks on U.S. military bases in Kuwait and Jordan by Iran, assaults on Saudi vessels by Houthi rebels, and an attack on a U.S. liquefied natural gas (LNG) carrier in an Egyptian port, stating, "We want to end the conflict before something terrible happens."Earlier, Trump announced on his way back to Washington, D.C., from Bedminster, New Jersey, that there is an agreement regarding the Strait of Hormuz. He stated, "Next will be an agreement on the nuclear issue, or what we can call an agreement on Iran's denuclearization," adding, "What we are trying to do now is to talk to them in the form of negotiations."He indicated that talks with Iran are set to begin on the afternoon of August 3, U.S. time. However, Trump did not disclose specific details about the agreement related to the Strait, nor the participants or location of the negotiations.Alan Eyre, a senior fellow at the Middle East Institute who participated in the U.S. negotiating team during the 2015 Iran nuclear agreement, expressed skepticism about the possibility of direct negotiations between the U.S. and Iran. Eyre stated, "Iran believes it cannot trust the U.S. and sees no value in talking to us," adding that he has significant doubts about claims that Trump is approaching an agreement with Iran on nuclear or Strait of Hormuz issues.He evaluated that the only meaningful negotiations currently taking place are discussions between Oman and Iran regarding the Strait. Oman is coordinating opinions with other Gulf states before consulting with Iran, but he explained that significant differences remain between the two sides.While Iran asserts control over the Strait, including the imposition of tolls, Oman maintains that any fees should be voluntarily paid by vessels and nations.Trita Parsi, vice president of the Quincy Institute for Responsible Statecraft, criticized Trump for repeatedly threatening attacks on Iran and then retracting those threats, undermining trust in negotiations. Parsi stated, "There is a tiresome pattern of issuing apocalyptic threats and then trying to create the impression that he also backed down because the other side did first. It is better to retract attacks and give diplomacy another chance than to escalate the war."He warned, "This cannot go on forever. At some point, trust in keeping agreements and the incentives presented will disappear, and the credibility of threats will weaken."* This article has been translated by AI. 2026-08-03 14:40:00
  • Hyundai Chairman Euisun Chung Inspects Hyundai Motorstudio Goyang After Overseas Trip
    Hyundai Chairman Euisun Chung Inspects Hyundai Motorstudio Goyang After Overseas Trip Hyundai Motor Group Chairman Euisun Chung returned from an overseas trip and visited Hyundai Motorstudio Goyang to assess operations.On August 3, Chung visited the Hyundai Motorstudio Goyang in Goyang, Gyeonggi Province, along with Hyundai Motor Group Vice Chairman Jang Jae-hoon. The visit was conducted as a private schedule.Chung reportedly inspected the exhibition space and customer experience facilities, emphasizing his commitment to enhancing customer experience by directly observing the automotive experience space.Hyundai Motorstudio Goyang serves as a permanent complex for automotive experiences, hosting vehicle exhibitions, brand experiences, seminars, and various events. It opened in April 2017 and will celebrate its 10th anniversary next year.Meanwhile, Hyundai operates four Motorstudios in South Korea, located in Seoul, Goyang, Hanam, and Busan. Internationally, it has established brand experience spaces in major cities such as Jakarta, Indonesia, and Beijing, China.* This article has been translated by AI. 2026-08-03 14:40:00
  • Will Foreign Investors Return to the KOSPI as the Exchange Rate Drops to 1430 Won?
    Will Foreign Investors Return to the KOSPI as the Exchange Rate Drops to 1430 Won? The won-dollar exchange rate has fallen to the 1430 won range, raising interest in the potential return of foreign investors to the domestic stock market.As of 2:30 PM on August 3, the exchange rate stood at 1430.30 won in the Seoul foreign exchange market. While this is a slight increase from the previous closing price of 1424.00 won on July 31, it remains stable compared to the recent surge near 1500 won. Analysts generally expect the won-dollar exchange rate to fluctuate between 1416 and 1477 won in August.The exchange rate directly impacts foreign investor returns. Foreign investors buy domestic stocks and then convert their funds back into dollars. If the value of the won declines during this process, even if stock prices rise, currency losses can diminish actual profits. Conversely, if the won strengthens or the exchange rate stabilizes, concerns about currency losses may ease, enhancing investment attractiveness.For instance, if a foreign investor purchases 1 million won worth of domestic stocks and achieves a 10% profit, a significant drop in the value of the won during that period could result in losing part of that profit during the currency conversion. On the other hand, if stock prices rise alongside a stable exchange rate, investors can expect both stock gains and currency profits.On July 31, the KOSPI closed at 6595.45, up 1001.89 points (17.91%) from the previous trading day, with foreign investors recording significant net purchases that contributed to the index's rise. Analysts noted that the rebound in the stock market and foreign buying pressure also increased the strength of the won.However, it is difficult to predict continued foreign buying solely based on the exchange rate. Factors such as U.S. Federal Reserve monetary policy, U.S. Treasury yields, international oil prices, global risk appetite, and domestic corporate performance all play a role.In particular, if international oil prices rise again or geopolitical tensions escalate, demand for safe-haven assets may increase, leading to a rise in the value of the dollar and a potential increase in the won-dollar exchange rate. Concerns have also been raised that if U.S. interest rates remain higher than expected, capital may flow out of emerging markets.While analysts suggest that the exchange rate is likely to remain in the low to mid-1400 won range for the time being, they also caution that volatility will remain high. To assess whether foreign capital is returning in earnest, it is essential to monitor not only the exchange rate but also improvements in corporate performance and the sustainability of foreign net purchases.* This article has been translated by AI. 2026-08-03 14:32:00
  • Meritz Financial Expands Recruitment from Government Agencies
    Meritz Financial Expands Recruitment from Government Agencies Meritz Financial Group has begun enhancing its external capabilities by recruiting personnel from fiscal authorities, following its previous focus on financial authorities. The company has appointed a former official from the Ministry of Economy and Finance, who has experience in public relations and government bond market operations, as an executive. This move is seen as an effort to improve understanding of government policies and the capital market while strengthening external communication.On August 3, it was reported that Kwak Sang-hyun, former head of the Future Strategy Division at the Ministry of Economy and Finance, has been appointed as an executive director at Meritz Financial Group, overseeing planning and public relations. Born in 1975, Kwak entered public service through the 46th National Civil Service Examination. He has held positions such as public relations officer and head of the government bond division at the Ministry of Economy and Finance's predecessor. During his tenure as head of the bond division, he was recognized for actively communicating with market participants and contributing to the inclusion of Korean government bonds in the World Government Bond Index (WGBI).With his experience in government policy and capital market operations, Kwak is expected to support the group's external communication, long-term strategy development, and responses to key policy issues. He is also anticipated to play a role in reflecting changes in policy and market conditions in business strategies and establishing external messaging.Meritz Financial has consistently recruited individuals from financial authorities. In 2020, former Financial Supervisory Service Deputy Director Seo Su-dong joined Meritz Fire & Marine Insurance, followed by the recruitment of Kim Dong-cheol, a former executive from the Financial Supervisory Service, and Yoon Hyun-cheol from the Financial Services Commission at Meritz Securities. Additionally, Meritz Fire & Marine Insurance welcomed Vice President Sun Wook from the Financial Services Commission and Executive Director Park Sung-joo from the Financial Supervisory Service. Meritz Financial Holdings also includes Vice President Park Heung-chan and Executive Director Choi Tae-hyun, both from the Financial Supervisory Service.This recruitment strategy is interpreted as a measure to respond to new business-related permits and inspections by financial authorities, as well as to incorporate changes in policy and supervisory trends into business strategies. As new initiatives such as issuance of commercial paper are pursued, understanding of capital market systems and policy changes is increasingly necessary, highlighting the importance of strengthening public relations functions.For the first time, the recruitment of personnel from fiscal authorities aims to enhance understanding of economic policy and the capital market, as well as to bolster public relations and planning functions. As financial companies expand their business areas and the impact of regulatory changes grows, the need for talent with policy experience is becoming more critical.A financial industry source stated, “As the business areas of financial companies expand, the ability to respond to not only the supervision and inspections of financial authorities but also government economic and capital market policies becomes increasingly important. The recruitment of someone with experience in the bond market and policy work appears to be aimed at strengthening external communication and planning capabilities.” 2026-08-03 14:32:00