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  • Han Byeong-do Criticizes People Power Party for Linking Lee Jae-myung to Dismissal Clause
    Han Byeong-do Criticizes People Power Party for Linking Lee Jae-myung to Dismissal Clause Han Byeong-do, acting leader of the Democratic Party and floor leader, criticized the People Power Party on August 3, stating, "The People Power Party is inciting public anxiety as if the prosecution can take no remedial action, and is dragging President Lee Jae-myung into the dismissal clause."During a Supreme Council meeting held at the National Assembly, Han condemned the People Power Party's agitation regarding the amendment to the criminal procedure law, saying, "We strongly denounce their actions."He added, "It is absurd that instead of expressing gratitude to President Lee for completing his diplomatic tour, they are planning to file a constitutional complaint at the Blue House."Han emphasized, "The Constitutional Court has already determined in 2023 that the adjustment and distribution of investigative powers are legislative matters for the National Assembly," and stated, "It should not be misrepresented as a violation of the Constitution."He also remarked, "Claims surrounding the dismissal are a clear distortion of facts," asserting that linking the protection of citizens from the unjust exercise of public power to President Lee's trial is merely a political attack.Additionally, Han announced that the Democratic Party will hold a public briefing at 2 p.m. today regarding the amendment to the criminal procedure law, stating, "We will provide detailed information on what changes will occur and what measures have been established to protect victims and the rights of socially vulnerable individuals."* This article has been translated by AI. 2026-08-03 09:48:10
  • Hanwha Expands Astronaut Training Program in South Korea
    Hanwha Expands Astronaut Training Program in South Korea Hanwha Group announced on August 3 that it will hold the 'Space Pebble Open Conference' on the 29th at the Cube Convention Center in Sangam-dong, Mapo-gu, Seoul. This event expands the 'Space Pebble' program, aimed at training young astronauts, into a public conference for the general audience.'Space Pebble' is a program operated by Hanwha Group in collaboration with KAIST for the past five years. Each year, about 30 middle school students are selected to receive education in space science and meet with experts, helping them explore their interests and potential careers in space.The open conference aims to introduce Hanwha's ongoing astronaut training activities to the public and to present the rapidly growing global space industry as an exciting opportunity for the future.Participants will include science communicator Kweon Doo, Jeon Eun-ji, a professor in the Department of Aerospace Engineering at KAIST, author Jo Seung-yeon, astronomer Ji Woong-bae, and industry analyst Jeong Yi-hoon. They will discuss the potential of the space industry as a future sector in an engaging manner for the audience.Recently, the global space industry has been spotlighted by the growth of SpaceX, which has lowered space exploration costs through reusable launch vehicles and ushered in a new era of private space ventures. This shift demonstrates the potential for large-scale innovation as space development expands from government-led initiatives to the private sector.In South Korea, there is a growing call for aerospace companies with diverse technologies in launch vehicles, satellite production, and system integration to collaborate and nurture a 'Korean version of SpaceX.' There is a demand for integrated solutions that encompass everything from launch vehicles to satellite production and operation, with a strong emphasis on the integration of artificial intelligence (AI), reflecting a global trend toward the consolidation and scaling of space enterprises.Alongside astronaut training, Hanwha Group is also accelerating efforts to enhance the competitiveness of the space industry. Recently, the company announced plans to invest a total of 55 trillion won in the aerospace and AI sectors by 2040, aiming to establish an integrated space infrastructure that includes independent launch vehicles, satellite networks, and defense AI.Additionally, Hanwha Group is increasing its stake in Korea Aerospace Industries (KAI) to over 14% and has formalized its intention to participate in management, thereby expanding its influence in the aerospace sector.A Hanwha Group official stated, "The belief that the Korean version of SpaceX ultimately comes from people has allowed us to continue the Space Pebble program for five years. We hope to share this belief with more people through the open conference." He added, "The next generation must have dreams of space for South Korea to nurture space companies like SpaceX."Registration for participation will be open from August 3 to 15. Detailed schedules and programs can be found on the official registration page.Meanwhile, the fifth cohort of the 'Space Pebble' program began in July.* This article has been translated by AI. 2026-08-03 09:48:00
  • Big Tech Companies Plan $2.4 Trillion Investment in AI Infrastructure
    Big Tech Companies Plan $2.4 Trillion Investment in AI Infrastructure Major tech companies are set to invest approximately $2.4 trillion in building artificial intelligence (AI) data centers over the coming years.According to Bloomberg News on August 1, the four leading companies in the data center race—Alphabet, Meta Platforms, Microsoft, and Amazon—have collectively committed to spending around $2.4 trillion on purchases, leases, energy, and facilities.This figure includes not only immediate capital expenditures but also long-term commitments for data center leases and power purchase agreements that could extend for decades. The investments are a response to the growing demand for AI computing.In its recent earnings report, Alphabet, Google's parent company, disclosed that its unspent purchase commitments and contractual obligations, along with pre-lease agreements, amount to $902 billion, a more than ninefold increase from a year ago. These commitments encompass technology equipment, power supply, and real estate lease agreements.Meta also announced that its future spending commitments could reach approximately $700 billion, with about half of that tied to data center contracts that have not yet commenced, extending costs over a maximum of 30 years. Meta's total spending commitments have increased more than eightfold compared to last year.In their recent earnings announcements, big tech companies indicated plans to further expand AI-related investments. They emphasized that the computing capacity needed to support AI models and cloud services is struggling to keep pace with demand, making it difficult to delay investments in data centers, semiconductors, and power facilities.However, concerns are growing in the market about whether these large-scale investments will translate into actual profits. Bloomberg reported that Alphabet and Amazon's free cash flow has already turned negative, and Meta is expected to follow suit soon.* This article has been translated by AI. 2026-08-03 09:48:00
  • Dongyang Life Launches Mini Insurance for Climate-Related Illnesses
    Dongyang Life Launches Mini Insurance for Climate-Related Illnesses Dongyang Life has introduced a mini insurance product that covers heat and cold-related illnesses for a premium starting at 100 won. The company announced on August 3 the launch of the ‘(Non) Our WON Mini Climate Illness Coverage Insurance.’ This product provides a 100,000 won payout for diagnoses of heat-related illnesses such as heat stroke, sunstroke, and heat exhaustion during the summer, as well as cold-related illnesses like frostbite and hypothermia during the winter. The insurance term is one year, and the premium is paid in a single lump sum. Individuals aged 20 to 70 can enroll. For a 40-year-old, the premium is 130 won for men and 150 won for women, providing coverage for one year after a single payment. The product can be purchased at Dongyang Life's nationwide branches and through exclusive agents. A representative from Dongyang Life stated, “As heatwaves and cold snaps become more frequent, climate-related illnesses have become a common risk for everyone. We will continue to introduce lifestyle-oriented products that reflect changes in climate and living environments.” Currently, Dongyang Life also offers mini insurance products that cover influenza, benign tumor removal surgery, hypertension, diabetes, and traffic accidents.* This article has been translated by AI. 2026-08-03 09:44:00
  • KAISTs AI builds workable schedules without optimization software
    KAIST's AI builds workable schedules without optimization software SEOUL, August 03 (AJP) - Researchers in South Korea have taught an artificial intelligence system to draw up delivery routes, factory schedules and hospital rosters that a company can actually run, without handing the job to the specialist commercial software the industry now relies on to make the numbers work. In testing, the system produced a legal plan in 100 percent of the problems it was handed, across five benchmark sets used throughout the field. No comparable method that learns end-to-end has managed that on its own. Korea Advanced Institute of Science and Technology (KAIST) announced the result on Monday. Kim Min-soo, a professor in the school of computing, led the team that built the system, which is called RL-SPH. The problem it goes after has a formal name in mathematics, integer linear programming, and a very ordinary shape in daily life. A courier company wants the shortest route. It also needs every parcel delivered, no van loaded past its capacity, and no driver kept behind the wheel longer than the law allows. A hospital wants a duty roster that covers every shift, respects rest requirements, and does not put the same nurse in two wards at once. A chip plant wants to hit its delivery dates without asking more of its equipment and its staff than they can give. Each of those conditions is a constraint. Break one and the plan is worthless, however efficient it looks on paper. A route that shaves 40 minutes off the day is no use if the van cannot physically hold the parcels. This is where AI has kept stumbling. Recent systems learned to guess at a cheap answer, and often guessed well on cost. They also produced plans that quietly violated a load limit or a working-hours rule. Companies dealt with that by passing the output to a solver, specialist optimization software that grinds through the arithmetic and repairs what the AI broke. The two best known, Gurobi and SCIP, do the heavy lifting in logistics and manufacturing worldwide. The AI never finished the job by itself. RL-SPH works more like a person redoing a timetable. Instead of predicting a finished answer in one shot, it starts with a plan that breaks the rules and edits it, one variable at a time. Change the number of vans. Change a shift length. See what broke and what got fixed, and learn from the result. The method behind it is reinforcement learning, in which a system improves through repeated trial and error rather than by studying worked examples. The design choice that matters is the order of priorities. The team told the system to find a legal plan first and a cheap one second. In a factory, that means locking in a schedule that meets every deadline and capacity limit, then squeezing cost and time out of it while keeping it legal. The researchers also proved mathematically that a system trained this way reaches a workable plan within a finite number of edits, rather than wandering indefinitely. Two other pieces make it faster. One is a model called ILP-GT, designed to catch relationships between variables sitting far apart in a problem, something earlier network designs handled poorly. The other is a search rule that targets the variables turning up most often in broken constraints instead of working through everything in turn. Across the five benchmarks, RL-SPH found a workable plan every time, including on harder cases involving variables that can take a wide range of values rather than a simple yes or no. Measured against existing methods that also hit a perfect record, it narrowed the distance to the theoretical best answer by 28.6 times on average and reached its first workable plan 2.5 times faster. Against the newest AI approaches, known as PAS, DDIM and DiffILO, it was the only one to hit 100 percent on all three benchmarks used in the comparison. Training took about 30 minutes, 14.7 times faster than established techniques and roughly 34 times faster than recent methods that learn without being shown correct answers. The team also ran it against MIPLIB, a public library of optimization problems that serves as a common yardstick for industry and academia. RL-SPH held up on problems as much as 67 times larger than anything in its training, and on problem types it had never encountered. "In the real world, a plan you can actually carry out matters more than the best possible answer," Kim said. He expects the method to become a foundation for AI-driven decisions in logistics, manufacturing, semiconductor production and workforce planning. Lee Tae-hoon, a doctoral student at KAIST, is the paper's first author, with Kim as corresponding author. The work was presented at the International Conference on Machine Learning, held from July 6 to 11 at COEX in Seoul. (Reference Information) Journal/Source: International Conference on Machine Learning Title: RL-SPH: Learning to Achieve Feasible Solutions for Integer Linear Programs Link/DOI: https://doi.org/10.48550/arXiv.2411.19517 2026-08-03 09:41:38
  • KakaoBank Offers Up to 0.5% Rate Discount for Credit Loan Comparison Customers
    KakaoBank Offers Up to 0.5% Rate Discount for Credit Loan Comparison Customers KakaoBank is providing preferential interest rates to customers using its credit loan comparison service. On August 3, KakaoBank announced that it will offer a discount of 0.3 to 0.5 percentage points on interest rates for customers who utilize the 'Compare Credit Loans' service. This promotion will run until September 30. A total of 28 financial institutions, including local banks, savings banks, and capital companies, are participating. Customers can compare loan limits and interest rates from various financial institutions through the KakaoBank app and select products eligible for the preferential rates without any additional application process. KakaoBank operates the preferential rate benefits by reducing the platform fees for partner financial institutions. This approach aims to lower the actual loan interest rates for customers, particularly reducing financial costs for those with medium to low credit ratings who typically face higher interest burdens. KakaoBank is also working to expand inclusive finance through its loan comparison platform by setting lower brokerage fees for products aimed at low-income individuals, such as the Sunshine Loan. A KakaoBank representative stated, “Since April, we have been providing preferential interest rate benefits not just to compare loan products but also to help customers reduce their financial costs. We will continue to collaborate with partner financial institutions to broaden customer choices and find ways to lower the interest burden for financial consumers, including those with medium to low credit ratings.”* This article has been translated by AI. 2026-08-03 09:40:10
  • Couple Wins $500,000 Lottery Prize While Traveling
    Couple Wins $500,000 Lottery Prize While Traveling A couple traveling together won a $500,000 lottery prize after purchasing a ticket at a popular spot during their trip. According to the lottery agency Donghaeng Lottery on August 3, the winner, identified as A, bought the ticket for the Spitto1000 lottery at a sales outlet in Gwangyang, South Jeolla Province, and struck it rich. A shared, "I noticed a lottery sales point while traveling and thought it would be fun to buy a ticket from a place I wouldn’t normally visit," explaining that they purchased ten Spitto tickets at the store. Upon arriving at their accommodation, A and their spouse scratched off the tickets one by one, only to be astonished to find they had won the top prize. A confirmed the win by scanning the QR code on the ticket. A expressed disbelief, saying, "I always thought winning the lottery was something that happened to others, so it feels surreal to have won myself. More than anything, I’m grateful that I can provide more experiences and opportunities for my young children." Regarding plans for the winnings, A stated, "First and foremost, I will use it to pay off my loans," expressing excitement about the financial relief. The Spitto1000 is an instant lottery where players can find out if they have won by scratching the surface of the ticket. The top prize is 500 million won, and winners must claim their prizes within one year from the sales deadline.* This article has been translated by AI. 2026-08-03 09:36:00
  • Ministry of Culture and Korea Tourism Organization Launch K-Global Festival Initiative
    Ministry of Culture and Korea Tourism Organization Launch 'K-Global Festival' Initiative The Ministry of Culture, Sports and Tourism and the Korea Tourism Organization announced on August 3 that they launched the 'Global Festa Check-in 2026' campaign for foreign tourists at the Boryeong Mud Festival in South Chungcheong Province on July 31.This campaign aims to provide reliable food options and related information for foreign tourists, coinciding with the opening of the Boryeong Mud Festival, which has gained global recognition. Officials from the Ministry, the Ministry of the Interior and Safety, the Korea Tourism Organization, and representatives from Boryeong, Suwon, Andong, Jinju, and Hwacheon attended the event, where they presented three key tasks: fair pricing, hospitality for foreigners, and unique local experiences. Participants also engaged in in-depth discussions on collaborative improvements for foreign-friendly global festivals.On-site inspections were conducted, where attendees reviewed food pop-ups and promotional booths for global festivals. They specifically compared the information provided by the 'Food Alio' service, which shares details about festival food options, including menu, prices, and weight, with actual offerings at the festival to ensure reasonable food services.Additionally, the Korea Tourism Organization showcased various experiential programs to promote global festivals and related tourism content. Activities included a 'Where's Wally?' stamp tour to encourage visits to the six global festivals, an event to promote safety culture in sea travel, and a verification event for the Food Alio service, attracting visitors to the festival.Park Jeong-woong, head of the Korea Tourism Organization's National Tourism Division, stated, "We will develop local festivals, including the six global festivals, into tourism content that attracts people from around the world, enhancing the competitiveness of local tourism. We aim to expand trust-based services like Food Alio and create a festival environment where pricing, hospitality, and experiences harmonize to boost the global competitiveness of Korean festivals."The 'Global Festival' initiative, promoted by the Ministry and the Korea Tourism Organization, is a three-year concentrated support project aimed at developing local festivals into global tourism content. The six festivals included are the Boryeong Mud Festival, Incheon Pentaport Rock Festival, Andong International Mask Dance Festival, Jinju Namgang Lantern Festival, Suwon Hwaseong Cultural Festival, and Hwacheon Sancheoneo Ice Festival (January 2027).Furthermore, the Korea Tourism Organization is also focusing on promoting four preliminary global festivals: the Daegu Chimaek Festival, Jeongnamjin Jangheung Water Festival, Busan International Rock Festival, and Suncheon Jangyu Festival.Meanwhile, bolstered by the development of K-festivals and enhanced tourism infrastructure, the number of foreign tourists visiting Korea and their spending has significantly increased. According to the Ministry, as of June 28, the total number of foreign tourists who visited Korea in June reached 1.99 million, a 23.1% increase compared to the same month last year. This brings the total number of visitors for the first half of the year to 10.71 million.Foreign tourists have also increased their spending. From January to June this year, the cumulative credit card spending by foreign tourists reached 10.39 trillion won, a 50.8% increase compared to the same period last year, which recorded 6.67 trillion won.* This article has been translated by AI. 2026-08-03 09:32:10
  • F&F Shares Plunge Nearly 20% After Disappointing Q2 Earnings
    F&F Shares Plunge Nearly 20% After Disappointing Q2 Earnings F&F shares fell nearly 20% in early trading after the company reported second-quarter results that fell short of market expectations.As of 9:16 a.m. on the Korea Exchange, F&F's stock was trading at 64,900 won, down 15,600 won (19.38%) from the previous trading day.On July 31, F&F announced that its consolidated revenue for the second quarter reached 399.6 billion won, with an operating profit of 86.5 billion won. Compared to the same period last year, revenue increased by 5.5%, operating profit rose by 2.9%, and net profit grew by 16.5% to 73 billion won. For the first half of the year, cumulative revenue and operating profit were 960.5 billion won and 240 billion won, respectively, marking increases of 8.6% and 15.6% from the previous year.However, these results did not meet market expectations. The quarterly revenue was about 3% below consensus estimates, while operating profit fell short by approximately 12%. Hanwha Investment & Securities downgraded its target price for F&F from 105,000 won to 100,000 won.Lee Jin-hyup, an analyst at Hanwha Investment & Securities, noted, "Domestic sales of MLB and kids' brands grew by 18% and 23%, respectively, thanks to strong domestic consumption and an increase in inbound tourists. However, the growth rate of the China subsidiary's sales was only 4%, which was a major factor in the disappointing results."He added, "Despite the strengthening of the yuan, the company's inventory adjustment policy continued, preventing the anticipated double-digit growth from being achieved. Additionally, a 32% increase in advertising expenses compared to last year has also impacted profitability."Looking ahead, he suggested that expectations for the China subsidiary may need to be lowered. "While Chinese consumer spending is gradually improving, the company's inventory management policy may lead to a disconnect between local consumption and performance. Once the inventory adjustment is completed, the growth potential of the China subsidiary could recover," he predicted.He also stated, "In the second half of the year, stock price momentum will depend more on the potential acquisition of TaylorMade than on earnings. If the acquisition does not occur, there will be a need to strengthen shareholder return policies, such as increasing dividends."* This article has been translated by AI. 2026-08-03 09:32:00
  • Samsung Electro-Mechanics Rises Amid Weakness in Major Semiconductor Stocks
    Samsung Electro-Mechanics Rises Amid Weakness in Major Semiconductor Stocks Samsung Electro-Mechanics is the only major stock among top market capitalizations to show an increase, despite a downturn in large semiconductor companies.As of 9:20 a.m. on August 3, Samsung Electro-Mechanics shares rose by 3.77% compared to the previous trading day.In contrast, among the top five market capitalization stocks, Samsung Electronics fell by 7.43%, SK Hynix by 6.75%, Samsung Electronics Preferred by 4.87%, and SK Square by 2.12%, indicating a general decline in the sector. Samsung Electro-Mechanics continues its upward trend among large-cap stocks.The company reported strong second-quarter results, buoyed by the AI sector. On July 30, it announced consolidated revenue of 3.4572 trillion won and an operating profit of 440.4 billion won for the second quarter, marking a 24% increase in revenue and a 107% increase in operating profit compared to the same period last year.The growth was driven by increased sales of AI data center products and high-value automotive components. Sales of multilayer ceramic capacitors (MLCC) for AI servers and networks rose, alongside expanded supply of flip-chip ball grid arrays (FC-BGA) and advanced driver-assistance systems (ADAS) to major global tech clients.Expectations for long-term supply agreements (LTA) are also supporting the stock price. Samsung Electro-Mechanics previously announced that it signed MLCC LTAs with over ten clients, including top-tier hyperscalers and major semiconductor companies. The demand for high-performance MLCCs has surged due to the expansion of AI infrastructure, leading to increased long-term supply requests from key customers.The company anticipates continued growth in the second half of the year. During the second-quarter earnings conference call, it stated, "In the third quarter, we expect significant improvement in performance compared to the previous quarter due to the expansion of high-value products and LTAs, as well as an increase in average selling prices (ASP). We forecast achieving record-high results."Park Jun-seo, a researcher at Mirae Asset Securities, noted, "The queue for Samsung Electro-Mechanics products has grown longer. Given the structural challenges for new competitors to enter the market, its position is unlikely to be shaken in the near term."* This article has been translated by AI. 2026-08-03 09:28:00