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  • Seoul moves to emergency response as extreme heat spell hits capital region
    Seoul moves to emergency response as extreme heat spell hits capital region SEOUL, August 03 (AJP) -Seoul authorities on Monday plans to tap emergency disaster funds if necessary for an expanded heat-wave response as the country's hottest and longest spell migrated to the capital region after scorching southern provinces for weeks, with temperatures forecast nearing 40 degrees in daytime in the capital region. The city administration convened an emergency heat-wave meeting to ensure relief measures were working on the ground rather than remaining on paper. Officials pledged to mobilize all available resources, including disaster-management funds and special adjustment grants, to expand frontline support as the extreme heat persists. The Korea Meteorological Administration said easterly winds crossing the Taebaek Mountains would shift the foehn effect toward western South Korea, intensifying heat across the Seoul metropolitan area after contributing to record temperatures in the southeast. The phenomenon heats and dries air as it descends mountain slopes. Seoul, Daejeon and other western cities were forecast to reach 37 degrees, while Gwangju was expected to top out at 39 degrees. Daegu and Yangsan, where heat tends to linger because of their basin geography, were also forecast to hit 39 degrees. Nationwide daytime highs were expected to range from 33 to 39 degrees. The emergency response comes as heat-related illnesses continue to climb. Seoul has reported 162 heat-related illnesses and two deaths as of Saturday, with nearly 80 percent of cases occurring outdoors. The city said it would continue monitoring 63,000 vulnerable residents, operate 280 emergency medical response units, expand cooling shelters and roadside water spraying, and strengthen protections for outdoor workers. The first heat-related death of the year was also reported in the neighboring city of Incheon. A man in his 40s collapsed after wandering outdoors with a body temperature exceeding 38 degrees Celsius and died the following day after his temperature rose to nearly 40 degrees. Authorities believe he succumbed to heatstroke. Officials said 92 heat-related illnesses have been recorded in Incheon since mid-May as prolonged heat warnings continue across the region. "All measures must work in the field," first deputy mayor Jeong Sang-hoon said, adding that the city would use every available funding source to strengthen emergency support as the heat wave becomes longer and more intense. 2026-08-03 13:38:11
  • Jennie Headlines Lollapalooza Chicago, Surprises Fans with New Song
    Jennie Headlines Lollapalooza Chicago, Surprises Fans with New Song Global artist Jennie took the stage at the Lollapalooza Chicago music festival in the United States. On August 1, Jennie performed as a headliner at Lollapalooza Chicago, appearing on the main stage, Bud Light, to connect with local fans.Lollapalooza is a major North American music festival that began in 1991. It features over 170 artists across eight stages and attracts more than 400,000 attendees.This year, Jennie joined a headliner lineup that included global artists like Charli XCX, Lorde, and Olivia Dean. Notably, she became the first Korean female solo artist to headline at Lollapalooza, adding significance to her performance.The Bud Light stage has hosted global artists such as The Cure, Coldplay, and The Weeknd. Jennie closed the main stage with a performance lasting about an hour.During her set, Jennie delivered approximately 18 songs across various genres, showcasing rearranged hit tracks and engaging with the audience to conclude the festival.This performance marked Jennie's first live stage appearance following the official release of her new single, 'Less than a Lover.' Fans in attendance sang along to the new track.Additionally, Jennie debuted another unreleased song during the performance, elevating the atmosphere of the event.Looking ahead, Jennie is set to continue her festival appearances, including at the Summer Sonic 2026 in Japan. 2026-08-03 13:36:20
  • Hanwha M&S Officially Launches with Kim Dong-seon Leading Tech and Life Innovations
    Hanwha M&S Officially Launches with Kim Dong-seon Leading Tech and Life Innovations Hanwha Group's Tech and Life Solutions division has officially launched Hanwha Machinery and Service Holdings (Hanwha M&S), marking its first step forward.On August 3, Hanwha M&S held a launch ceremony at The Plaza in Jung-gu, Seoul, officially declaring the establishment of the company. The board of directors, including CEO Kim Hyung-jo and three internal directors, along with independent directors such as Professor Jo Min-ho from Hanyang University, convened to approve key agenda items, including the appointment of executives, establishment of various committees, and the formulation of internal regulations.The newly established holding company, Hanwha M&S, is divided into two main sectors: Tech and Life Solutions. The Tech sector includes Hanwha Vision, Hanwha Semitec, Hanwha Momentum, and Hanwha Robotics, while the Life sector comprises Hanwha Galleria, Hanwha Hotels and Resorts, and Our Home.Including subsidiaries, the total number of affiliated companies reaches 57 (including overseas entities), with an estimated consolidated revenue of approximately 6 trillion won by the end of 2025 and total assets around 11.3 trillion won. Hanwha Vision and Hanwha Galleria are listed on the stock market.The inaugural leader of Hanwha M&S is CEO Kim Hyung-jo. Born in 1968, Kim joined Hanwha Group in 1994 and has over 30 years of experience in business strategy and operations. He served as the CEO of Hanwha Hotels and Resorts for four years starting in 2021.The primary goal of establishing the holding company and the corporate spin-off is to enhance the expertise of each business within Hanwha Group and create synergies to ultimately boost the competitiveness of each company.The Tech and Life sectors will implement management strategies that reflect their business characteristics and market environments under the leadership of Hanwha M&S, aiming to continuously increase corporate and shareholder value. Efforts will also be made to discover synergies to facilitate active collaboration both within and outside the sectors.During the ceremony, Kim Dong-seon, Chief Strategy Officer, expressed his commitment to the various changes and innovations that will take place under the holding company. Having previously focused on exploring new markets as the head of future vision for the Tech and Life sector subsidiaries, Kim plans to shift to the holding company to outline the vision for each subsidiary and focus on identifying potential future growth areas.On August 1, Kim was promoted to CEO after being recognized for several achievements centered around the Tech sector, including securing large orders for HBM TC bonders and successfully entering the semiconductor equipment market, as well as exploring global emerging markets.CEO Kim Hyung-jo stated, "We will establish a new management system that maximizes expertise and transform into a strong and efficient organization. We will strive to ensure that our growth contributes to the development of the nation and society."Meanwhile, industry experts anticipate that the launch of Hanwha M&S will pave the way for a responsibility management system centered around the third generation of the Hanwha Group's founding family. In particular, with Kim Dong-seon taking charge of the holding company overseeing future businesses, there are expectations for accelerated development in new sectors such as semiconductor equipment, robotics, and artificial intelligence (AI).* This article has been translated by AI. 2026-08-03 13:36:20
  • AI in South Korea: Time for Action
    AI in South Korea: Time for Action Artificial intelligence (AI) is no longer a future technology; it has become a core infrastructure that influences industry, economy, and national competitiveness. While generative AI has amazed the world, we are rapidly entering an era of 'physical AI' that drives robotics, autonomous vehicles, smart factories, healthcare, and logistics. In the future, a nation's competitiveness will depend not on who has the most data, but on who applies AI to real industries first. South Korea must aim to become a country that grows through AI, moving beyond merely being proficient in its use. The second year of the Yoon Suk Yeol administration also positions AI as a key national strategy. The direction is correct, but what is now needed is action, not just declarations. Major countries have already invested hundreds of trillions of won to enter the AI supremacy competition. The United States is fostering an AI ecosystem centered around private companies, while China is transitioning its manufacturing and entire cities to AI under state leadership. Middle Eastern nations are pouring vast oil revenues into AI infrastructure and data centers. AI is no longer just an information technology policy; it is an industrial policy and a national security strategy. We have sufficient competitive advantages. Our world-class semiconductor technology, information and communication technology (ICT), and manufacturing capabilities are strong assets in the AI era. However, if we cannot integrate these into a cohesive national strategy, the competitiveness of individual companies will not translate into national competitiveness. A comprehensive strategy that connects semiconductors, AI, data centers, power grids, renewable energy, and talent development into a single ecosystem is urgently needed. Saemangeum should be at the center of this strategy. Saemangeum is the only space in the country that offers vast land, renewable energy, ports, and industrial complexes simultaneously. It has optimal conditions for large-scale data centers, AI research facilities, humanoid robot demonstration zones, autonomous vehicle test beds, smart agriculture, and smart logistics. We should not stop at merely creating an industrial complex. Saemangeum should be designated as a 'national physical AI special zone' to foster a space where global companies and research institutions can collaborate on technology demonstration and industrialization. The competitiveness of the AI era ultimately stems from power and talent. Data centers require massive amounts of electricity, and the AI industry needs excellent researchers and developers to grow. We can no longer approach the expansion of renewable energy and the enhancement of power grids solely as environmental or energy policies. They must be recognized as national infrastructure for the AI industry. At the same time, we need to establish a talent development system that connects universities, companies, and research institutions to continuously produce world-class researchers and engineers. Regulatory innovation is also essential. New technologies often clash with existing systems. Autonomous driving, medical AI, robotics, drones, and digital healthcare are still hindered by various regulations. While the world competes at speed, we must not waste time on permits and reviews. We should apply the principle of 'pre-approval and post-correction' more boldly, managing risks without stifling innovation. AI is not just a growth strategy for specific companies. It is a national innovation tool that enhances productivity in manufacturing, boosts competitiveness in agriculture and fisheries, and reduces disparities in healthcare and education. The issue of regional extinction can also find new solutions through AI and digital technology. Ultimately, AI is a revolution that will transform the entire national system beyond just industry. South Korea has experience standing at the center of the global economy through semiconductors. Now is the time to carry that experience into the AI era. The government must pave the way with bold investments and regulatory innovations, companies must lead the global market with technological advancements, and universities and research institutions must create a virtuous cycle of talent development. As we enter the second year of the administration, the path South Korea must choose is clear. We should not view AI merely as a future industry but embrace it as the very future of our nation. Leading the era of physical AI beyond generative AI is the new growth strategy that South Korea must achieve in the next decade. * This article has been translated by AI. 2026-08-03 13:36:00
  • Shin Kyuk-hos Entrepreneurial Spirit Highlighted at International Conference
    Shin Kyuk-ho's Entrepreneurial Spirit Highlighted at International Conference The entrepreneurial spirit of the late Shin Kyuk-ho, founder of Lotte Group, was spotlighted at an international academic conference. Lotte announced on August 3 that a study analyzing Shin's entrepreneurial spirit and the growth of Lotte Group was presented at the '2026 World Business History Conference' held in Toronto on July 30. Now in its third year, the World Business History Conference took place at the University of Toronto from July 27 to 31, attracting over 400 researchers from more than 40 countries. The event featured approximately 90 sessions and workshops related to finance, retail, manufacturing, and multinational corporations. The research was presented by Professor Baek In-soo of Osaka University of Economics, who focused on 'Boundaryless Competitive Advantage: A Dynamic Study of Shin Kyuk-ho's Entrepreneurial Journey Across Borders.' Professor Baek had previously studied Shin's entrepreneurial spirit in 2023 under the theme 'Pioneer of Boundaryless Markets, Lotte Shin Kyuk-ho.' In his presentation, Professor Baek reinterpreted Shin's process of growing Lotte by utilizing the concept of boundaryless competitive advantage. This concept refers to the ability to combine knowledge and resources acquired from different fields, transcending specific countries, industries, or organizations, to create new business opportunities. The study divided Shin's life into four stages: youth, early and late middle age, and old age, analyzing the boundaries he faced and how he overcame them during each period. It particularly noted that his interests and experiences in diverse fields such as literature, politics, industry, and organization significantly influenced Lotte Group's business expansion and competitiveness. Shin began his business in Japan with a gum venture and later expanded into food, retail, tourism, and chemicals. The study also drew implications for modern managers, suggesting that they should learn expertise beyond their boundaries and integrate it into their organizations while nurturing successors and future talent with a long-term perspective. Following the presentation, there were suggestions to develop research comparing Shin's entrepreneurial spirit with cases of multinational entrepreneurs from other countries. Professor Krautcher from Graz University in Austria requested to share the presentation materials and proposed the possibility of international comparative research. Professor Baek stated, “Shin Kyuk-ho's entrepreneurial spirit can provide a direction for sustainable growth for today's entrepreneurs. Those aspiring to start a business should continuously learn about new opportunities in the AI era, cultivate excellent talent, and contribute to society and the future.”* This article has been translated by AI. 2026-08-03 13:36:00
  • Matt Damon Impressed by Korean Baseball Culture and Fan Energy
    Matt Damon Impressed by Korean Baseball Culture and Fan Energy Hollywood actor Matt Damon shared his experience of attending a professional baseball game shortly after arriving in South Korea.On August 3, a press conference for the film 'Odyssey' was held at the Four Seasons Hotel in Gwanghwamun, Seoul, featuring director Christopher Nolan, producer Emma Thomas, and actors Matt Damon and Charlize Theron.Earlier, Damon made headlines by visiting the Gocheok Sky Dome to watch a home game of the Kiwoom Heroes on August 1. He was seen wearing a Kiwoom Heroes jersey and interacting with young fans, including signing autographs.During the press conference, Damon remarked, "I had a great time watching the baseball game. The kids were there too, and I couldn't stay until the end because I was adjusting to the time difference, but I was glad to see the game."He explained that his visit to the Korean baseball stadium was due to a special connection: "Coincidentally, a friend of mine is a baseball agent, and the player he represents plays for the Kiwoom Heroes. After arriving at the airport, I learned I could catch the game, so I went."Damon expressed his enjoyment of Korean baseball, saying, "I had heard that Korean baseball was great, and it really was fun. The way the two teams are supported is fascinating, and the energy was incredible. I felt the passion of the fans."He was particularly impressed by the unique cheering culture in Korean professional baseball, stating, "Even though it's the same sport, the way fans cheer is different, which was interesting and enjoyable."After the game, Damon also took time to tour Seoul, saying, "Yesterday, I had the chance to explore Seoul, and it was great to see the city all day."Meanwhile, 'Odyssey,' featuring Matt Damon, tells the story of Odysseus, the hero who leads the Greeks to victory in the Trojan War, as he battles the wrath of the gods on his journey home. The film is set to be released in theaters on August 5.* This article has been translated by AI. 2026-08-03 13:36:00
  • Nearly 20,000 First-Time Exporters Recorded Last Year, Highest in Five Years
    Nearly 20,000 First-Time Exporters Recorded Last Year, Highest in Five Years Last year, the number of companies that made their first export approached 20,000, marking the highest level in the past five years.The Korea Customs Service reported on August 3 that 19,746 companies classified as 'first-time exporters' had no export records in the previous three years, representing a 3.7% increase from the previous year. This is the largest number recorded in the last five years. The export amount from first-time exporters also rose by 13.2% from the previous year, reaching $6.9 billion, the highest since 2019.First-time exporters accounted for 19.4% of the total 101,792 companies engaged in export activities last year. Among the 25,953 companies that newly recorded export performance after having no previous export records, 76.1% were first-time exporters. In terms of export value, they represented 89.7% of the total export amount from these new entrants.By category, machinery and computers made up the largest share at 10.9%, followed by electrical products at 8.5%, cosmetics at 7.0%, plastics at 6.7%, and automobiles at 5.6%. On average, each first-time exporter exported 1.4 different items, with 72.2% of them exporting only one item. Furthermore, 98.4% of these companies exported fewer than ten items.In terms of export value, precious metals led with 26.4%, followed by automobiles at 19.9%, electrical products at 7.8%, machinery and computers at 7.0%, and optical devices at 4.5%. The Customs Service noted that machinery and computers, cosmetics, and electrical products are primarily small-scale exports with relatively low average export values per company.Regarding export scale, 15,885 companies, or 80%, had exports of less than $100,000. The average export amount for first-time exporters was $350,000, while those with exports under $100,000 averaged only $20,000.In the under $100,000 category, machinery and computers, electrical products, and cosmetics were the most exported items. In the $100,000 to $10 million range, automobiles had a significant share. Companies exporting over $10 million primarily dealt in precious metals.First-time exporters reached a total of 173 countries. By the number of companies, China accounted for 14.0%, followed by the United States at 10.9%, Japan at 7.5%, Vietnam at 6.4%, and the European Union at 5.3%. On average, each first-time exporter sold to 1.6 countries, with 15,929 companies, or 80.7%, exporting to only one country.In terms of export value, Hong Kong was the largest market at 30.0%, followed by China at 17.8%, Kyrgyzstan at 7.8%, the United States at 5.9%, and Switzerland at 4.2%. Exports to Hong Kong were primarily in precious metals, electrical products, and optical devices, while China’s main exports included optical devices, copper, and ores.Regionally, there was a notable concentration in the metropolitan area, with 70.4% of first-time exporters located in Seoul, Incheon, and Gyeonggi Province. The metropolitan area accounted for 72.9% of the total export value. Following this, the southeastern region represented 10.0%, the Daegu-Gyeongbuk region 7.3%, and the central region 6.9%. 2026-08-03 13:32:00
  • Tourism Industry Warns Casino Regulation Could Stifle Investment
    Tourism Industry Warns Casino Regulation Could Stifle Investment The tourism industry is voicing strong opposition to the government's proposed reforms to casino regulations. On August 3, 12 organizations representing various sectors of the tourism industry, including casinos, hotels, travel, MICE (Meetings, Incentives, Conventions, and Exhibitions), and theme parks, issued a joint statement condemning the introduction of a five-year renewal system for casino licenses and plans to increase the burden rate for the Tourism Promotion Development Fund. They labeled these measures as "excessive regulations that will dampen investment and competitiveness in the tourism sector" and called for their immediate withdrawal.Among the organizations involved are the Korea Casino Tourism Association, the Korea Tourism Association, the Korea Hotel Association, the Korea Travel Association, the Korea MICE Association, the Korea Theme Park Association, the Korea Resort Condominium Management Association, the Korea PCO Association, the Korea Tourism Cruise Association, the Korea Camping Association, the Seoul Tourism Association, and the Korea Hotel Management Association. They released a joint statement titled "Call for Withdrawal of Casino Renewal License System and Increase in Tourism Promotion Development Fund Burden Rate that Hinders Domestic Tourism Industry Development."The industry argues that the government's proposed measures, including the introduction of a five-year renewal system for casino operating licenses and an increase in the burden rate for the Tourism Promotion Development Fund from 10% to 15%, could worsen investment conditions in the tourism sector and diminish national competitiveness. They warn that adding regulations to an industry that is still recovering from the impacts of COVID-19 could stifle large-scale investments and job creation, weakening the overall growth momentum of the sector.Furthermore, the tourism industry points out that the current structure requires casino operators to pay the Tourism Promotion Development Fund based on revenue rather than net profit. This means that even operators recording losses would still bear the burden of the fund. An increase in the burden rate could further exacerbate the financial strain on these businesses.The introduction of a five-year renewal system is particularly concerning for the industry, as the nature of integrated resort projects typically involves investments ranging from hundreds of billions to trillions of won. They fear that this could undermine investment stability and deter new investments and foreign capital, potentially shaking the foundation of the tourism industry centered around integrated resorts.The industry also argues that while neighboring countries like Macau, Singapore, the Philippines, and Japan are fostering their integrated resort industries through regulatory relaxation and increased investment, strengthening regulations domestically could weaken the country's tourism competitiveness.In their joint statement, the tourism industry called on the government to reconsider the proposed five-year renewal system for casinos, review the increase in the burden rate for the Tourism Promotion Development Fund, and shift policies to promote growth and investment in the tourism sector.* This article has been translated by AI. 2026-08-03 13:28:00
  • KOTRA Conducts Emergency Review of Supply Chains Amid Rising Tensions in the Middle East
    KOTRA Conducts Emergency Review of Supply Chains Amid Rising Tensions in the Middle East As tensions rise in the Middle East due to military clashes between the United States and Iran, KOTRA has conducted an urgent review of key raw material supply chains and export logistics. While local production disruptions are limited, the potential for rising prices, freight costs, and transportation delays poses a significant burden on domestic companies.KOTRA held its fourth Post-Middle East Task Force meeting at its headquarters in Seoul on August 3, assessing production and logistics trends for items heavily reliant on the region and discussing response strategies.Following the signing of a ceasefire memorandum between the U.S. and Iran in June, KOTRA transitioned its 'Middle East War Task Force' to a 'Post-Middle East Task Force.' Although the focus shifted from crisis management to post-conflict market entry support, recent Iranian attacks on vessels and the re-blockade of the Strait of Hormuz have prompted a return to emergency response measures.According to assessments from KOTRA's 13 trade offices in the Middle East, the main risks identified are not local production issues but rather increases in product prices, maritime freight rates, and transportation delays.Naphtha prices surged to $1,208 during the Middle East conflict but fell to $635 in June. However, as of July 29, prices have risen again to $841.Tensions in the Red Sea region are also exacerbating logistics burdens. The threat from Houthi rebels has led to an increase in vessels rerouting around the Cape of Good Hope, resulting in longer transportation times and higher costs for shipments to and from the Middle East.Naphtha prices have risen approximately 32% from their June lows, and only nine out of 24 ports along the GCC coast are currently operating normally.KOTRA is re-establishing contact with previously identified alternative suppliers to confirm their production capacity and availability. In the event of supply disruptions, KOTRA has also revamped its supply chain information to connect domestic companies with overseas trade offices immediately.For domestic companies importing items heavily reliant on the Middle East, KOTRA is conducting weekly assessments of supply and demand conditions. In addition to the existing 'Emergency Response Consultation Desk for Middle East War,' KOTRA is operating a 'Supply Chain Help Desk' to assist in identifying alternative suppliers and securing shipping permits.Since the beginning of this year, 20 supply chain-related issues have been reported to the help desk. KOTRA plans to monitor port operations daily through its 13 trade offices in the Middle East and expand consulting services for logistics routes and support for overseas joint logistics centers.Kang Kyung-sung, President of KOTRA, stated, "We are closely monitoring the supply chain and export logistics situation for key items in preparation for the prolonged tensions in the Middle East. If any supply or export issues arise, we will respond swiftly through the help desk."* This article has been translated by AI. 2026-08-03 13:00:20
  • Busan Launches Application for Preliminary Social Enterprises
    Busan Launches Application for Preliminary Social Enterprises Busan announced on August 3 that it will accept applications for the '2026 Preliminary Social Enterprise Designation' from August 14 to September 4.Local preliminary social enterprises aim to provide jobs and social services to vulnerable groups while contributing to the community, with the potential to grow into certified social enterprises recognized by the Ministry of Employment and Labor.This application process has no limit on the number of designations. This means that businesses meeting the criteria will be designated after a review, rather than a fixed number being selected within budget constraints.A representative from Busan's Small Business Support and Social Economy Team stated, "The budget for the designation itself is primarily for issuing certificates. Since there is no structure limiting the number of designated enterprises due to budget constraints, any business that meets certain conditions can be designated." However, it was noted that financial support programs available after designation operate separately. Even if designated as a preliminary social enterprise, support for labor costs and business development expenses requires individual project budget approval and review.The number of businesses applying for preliminary social enterprise status in Busan has recently seen a significant decline. According to the city, "In 2021, 61 businesses applied, followed by 7 in 2022, and 64 in 2023," but recently the number of applicants has dropped to around 10 or 6, with only 4 and 3 businesses designated, respectively.The city believes that the decrease in related financial support programs has impacted the number of applications. A city official remarked, "Businesses applying for preliminary social enterprise designation are very interested in the national and municipal financial support programs available after designation. However, the lack of related support programs in recent years has reduced the perceived benefits of designation." The official added, "With a slight increase in related budgets this year, we expect the number of applicants to rise compared to last year."The designation of preliminary social enterprises is evaluated based on the realization of social purposes and the sustainability of the business rather than the years since establishment. For job-providing enterprises, a certain percentage of employees must be from vulnerable groups. There are five types of enterprises: job-providing, social service-providing, community contribution, mixed, and others (creative and innovative), with a designation period of three years.The official emphasized, "The key is not how long the business has been established, but what social value it creates," adding that the evaluation will comprehensively consider whether the type-specific requirements and business sustainability are met.The review process will be based on submitted documents and on-site inspections, incorporating quantitative indicators such as the employment ratio of vulnerable groups, as well as qualitative assessments of the feasibility of social purpose realization and business model sustainability. The transition rate to certified social enterprises recognized by the Ministry of Employment and Labor after designation has been found to be low.The official noted, "Many businesses apply for designation expecting to participate in financial support programs, but recent support programs tend to focus on employment and care sectors. If a business's main operations do not align with the support direction, the number of available programs decreases, reducing the practical benefits of designation." Additionally, while some businesses apply for formal social enterprise certification, others allow their designation to expire without applying for certification or re-designation after the three-year period.There is also a lack of a comprehensive post-management system to monitor changes in revenue, retention of vulnerable group employment, closure rates, and certification transition rates after designation. The official stated, "After designation, businesses must submit their revenue, operational challenges, and employment status of vulnerable groups directly. While businesses that have received financial support are relatively proactive in providing data and feedback, those that have not are less cooperative, making statistical management difficult."The city is continuously seeking cooperation by informing businesses that they may be asked to submit post-designation data and is working to reflect the collected data in post-management statistics, despite the absence of specific incentives.Businesses wishing to apply for preliminary social enterprise designation can do so through the social enterprise portal by contacting the relevant social enterprise department in their local district or county. The city plans to conduct document reviews and on-site inspections in September and October, followed by expert evaluations and deliberations by the Social Enterprise Promotion Committee in October, with final designation results to be announced on the city’s website in early November. Once designated as a preliminary social enterprise, businesses can participate in various support programs, including consulting to meet the Ministry of Employment and Labor's certification requirements, priority purchasing by public institutions, market support, and financial assistance.The city will hold an information session for participating businesses on August 13 at 4 p.m. at 'Social Campus On Busan' (688 Suyeong-ro, 6th floor, Suyeong-gu), where it will provide guidance on designation requirements, evaluation criteria, application procedures, and how to use the social enterprise portal.Kim Gi-hwan, head of the city's Digital Economy Office, stated, "Through this application process, we aim to discover capable Busan-style preliminary social enterprises and actively support them in realizing social value while growing alongside the community."* This article has been translated by AI. 2026-08-03 12:56:00