Latest by
-
President Lee Marks 60th Anniversary of Korean Nurses in Germany President Lee Jae-myung promised on August 2 to ensure that the voices of Koreans abroad lead to real changes in policies and systems. Speaking at a luncheon with the Korean community in a hotel in Frankfurt, he stated, "I will make sure that you can trust the government to listen to your concerns and take action, no matter where you are in the world."After completing visits to San Francisco and three South American countries, President Lee, accompanied by First Lady Kim Hye-kyung, met with over 100 attendees, including Korean workers, businesspeople, and representatives from Korean associations and schools.He referenced a survey of overseas Koreans' grievances initiated earlier this year, noting that about 42 complaints had been reported from Germany. He added, "There are likely many more, and I expect to hear a lot today. While some issues may be difficult to resolve immediately, there are also many that can be addressed easily."President Lee explained the background of the meeting, saying, "After visiting South America, I had to refuel somewhere, and I thought it would be important to stop here. I felt that Frankfurt was the right place to meet you all quickly." He acknowledged that official visits to Germany typically lead him to Berlin, making it harder to meet with the community.He emphasized that this year marks the 60th anniversary of Korean nurses stepping foot at Frankfurt Airport in 1966. "Korea and Germany have risen from the pains of war and division, each astonishing the world with the miracles of the Rhine and the Han River. Your lives are reflected in that history," he said.President Lee noted that the achievements of those who dedicated their youth as miners and nurses extend beyond economic success. "You have demonstrated the diligence and responsibility of Koreans to German society, building and solidifying trust in Korea," he remarked.He expressed gratitude for the first generation of overseas Koreans who established Korean language schools to pass on their language and culture to their children. "Korean schools are spaces that connect generations and serve as a focal point for the community, and I extend my deep respect and gratitude for your sacrifices, dedication, and remarkable efforts," he said.The role of Korean businesses and entrepreneurs in Germany was also highlighted. "Korean companies in Frankfurt and throughout Hesse are proving Korea's competitiveness in the automotive, electronics, finance, logistics, bio, and high-tech sectors," he stated.He emphasized that true corporate competitiveness is achieved when trust is built within the local community, stating, "You, who are building trust locally, are the core of Korea's competitiveness."President Lee noted the growing interest in Korea within German society, which has expanded from K-pop, films, and food to include the Korean language, study abroad, employment, and Korean companies and technology.He concluded by saying, "If businesses showcase Korea's capabilities and culture broadens the goodwill towards Korea, you can connect that capability and goodwill with strong trust. You are the true civilian diplomats."Joo Yoon-sun, president of the Korean Association in Southern Germany, welcomed the president, stating, "The Korean community in Germany is a collective where past dedication, present challenges, and future hopes are intertwined. I hope the president's visit will comfort the hearts of our community and strengthen our connection with our homeland."With the conclusion of the luncheon, President Lee wrapped up his official schedule, which included visits to San Francisco, Brazil, Chile, and Argentina, and began his journey back home.* This article has been translated by AI. 2026-08-02 21:32:20 -
President Lee Marks 60th Anniversary of Korean Nurses in Germany President Lee Jae-myung met with the Korean community in Germany on August 2, promising, "I will ensure that your voices lead to real changes in policies and systems."During a luncheon held at a hotel in Frankfurt, he stated, "I will pay closer attention so that overseas Koreans, no matter where they are in the world, can believe that the government listens to their concerns and takes action."On his way back from a tour of San Francisco and three South American countries, President Lee, accompanied by First Lady Kim Hye-kyung, met with over 100 attendees, including Korean workers, businesspeople, and representatives from Korean associations and schools.He mentioned a survey of overseas Koreans' grievances conducted earlier this year, noting, "I have been informed that about 42 complaints have been received from Germany."He added, "There are likely many more, and I expect to hear a lot today. Some issues may be difficult to resolve immediately, but there are also those that can be addressed easily."Explaining the background of the meeting, President Lee said, "I had to refuel somewhere after my trip to South America, and I thought it would be inappropriate to just pass by. I considered where I needed to meet quickly, and it seems Frankfurt was the chosen location."He noted that official visits to Germany usually take him to Berlin, making it difficult to meet with the community, and expressed his desire to connect with overseas Koreans whenever possible.President Lee emphasized that this year marks the 60th anniversary of Korean nurses stepping foot at Frankfurt Airport in 1966.He remarked, "Korea and Germany have risen from the pains of war and division, astonishing the world with the economic miracles of the Rhine and the Han rivers. Your lives are reflected in that history."He acknowledged the contributions of those who dedicated their youth as miners and nurses, stating, "What they achieved is not just economic success; they showcased the diligence and responsibility of Koreans to German society and built trust in Korea."President Lee also expressed gratitude for the efforts of the first generation of overseas Koreans who established Korean language schools to pass on the language and culture to their children. He said, "Korean schools are spaces that connect generations and serve as a focal point for the community, and I express my deep respect and gratitude for their sacrifices, dedication, and remarkable efforts."He highlighted the role of Korean companies and businesspeople in Germany, stating, "Korean companies in Frankfurt and throughout Hesse are proving Korea's competitiveness in the automotive, electronics, finance, logistics, bio, and high-tech sectors."He emphasized, "The true competitiveness of a company is realized when it earns deep trust in the local community, and you, the overseas Koreans building that trust, are the core of Korea's competitiveness."Additionally, he noted that interest in Korean culture, starting from K-pop, films, dramas, and food, is expanding in German society to include the Korean language, studying abroad, employment, and Korean companies and technology.President Lee stated, "If companies showcase Korea's capabilities and culture broadens goodwill toward Korea, you can connect that capability and goodwill with strong trust. You are the true civilian diplomats."In her welcoming remarks, Jo Yoon-sun, president of the Korean Association in Southern Germany, said, "The Korean community in Germany is a collective where past dedication, present challenges, and future hopes are intertwined. I hope the president's visit will comfort the hearts of the community and strengthen the connection with our homeland."President Lee concluded the meeting with the Korean community, marking the end of his official schedule during his tour of the United States, Brazil, Chile, and Argentina, as he began his journey back home.* This article has been translated by AI. 2026-08-02 21:32:00
-
President Lee to Return to Office on August 3 to Address Real Estate and Stock Market Issues 이재명 대통령이 미국·남미 순방을 마치고 귀국하는 대로 청와대로 출근해 부동산 정책과 주식시장 등 국내 현안을 점검한다. 강유정 청와대 수석대변인은 2일(현지시간) 언론 공지를 통해 “이 대통령은 3일 남미 순방을 마치고 귀국하는 대로 청와대로 출근해 부동산 정책, 주식시장을 비롯한 국내 현안과 관련해 비공개 회의를 가질 예정”이라고 밝혔다. 이 대통령은 이날 귀국한 직후 부동산과 주식시장의 동향 및 정부 대응 상황을 보고받고 관련 대책을 논의할 것으로 보인다. 청와대는 이어 오는 4일부터 이틀간 부처별 업무보고를 진행한다. 4일 오후에는 산업통상부와 지식재산처, 기후에너지부·기상청, 원자력안전위원회가 업무보고에 나선다. 이어 고용노동부와 중소벤처기업부, 공정거래위원회가 주요 현안과 정책 추진 상황을 보고한다. 5일 오전에는 외교부·재외동포청과 통일부, 국방부·병무청·방위사업청, 국가보훈부의 업무보고가 진행된다. 외교·안보 부처들은 국제 정세와 한반도 상황, 국방·보훈 정책 등을 점검할 예정이다. 5일 오후에는 교육부와 국가교육위원회, 문화체육관광부·국가유산청이 업무보고를 한다. 이어 행정안전부·경찰청·소방청과 인사혁신처, 법무부·검찰청, 법제처, 국무조정실이 주요 국정 현안을 보고한다. 2026-08-02 21:28:00
-
OPEC+ to Increase Oil Production by 188,000 Barrels Daily Starting Next Month The Organization of the Petroleum Exporting Countries (OPEC) and seven major oil-producing nations within the OPEC+ alliance have agreed to increase oil production by 188,000 barrels per day starting next month.According to Yonhap News Agency, the OPEC Secretariat announced that a video conference was held with representatives from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, where the decision was finalized.Previously, these countries had announced voluntary production cuts in April and November 2023, reducing output by 1.65 million barrels per day and 2.2 million barrels per day, respectively. The seven nations decided to adjust the voluntary production cuts announced in April 2023 by increasing output by 188,000 barrels per day to support the stability of the oil market.The new production adjustment will take effect in September. OPEC+ plans to hold regular monthly meetings to closely monitor the oil market situation, with the next meeting scheduled for September 6. 2026-08-02 21:08:00
-
Jung Cheong-rae Wins Narrowly Against Kim Min-seok in Democratic Party Primary In the Democratic Party's primary held on August 2 in the Busan, Ulsan, and Gyeongnam (Bulgyeong) region, candidate Jung Cheong-rae secured 25,189 votes, narrowly defeating Kim Min-seok, who received 23,675 votes. Jung's victory comes after he lost to Kim by a slim margin in the previous day's primary in the Chungcheong region.On this day, Jung garnered 4,054 votes in Ulsan, falling short of Kim's 4,337 votes. However, he outperformed Kim in Busan and Gyeongnam, where he received 10,345 and 10,790 votes, respectively, compared to Kim's 9,182 and 11,056 votes. Candidate Song Young-gil received a total of 5,129 votes, with 972 in Ulsan, 1,689 in Busan, and 2,468 in Gyeongnam.The primary, which included the regions where late former President Roh Moo-hyun was born and built his political base, sparked ongoing debates about who represents Roh's political legacy.During a joint speech in Changwon, Gyeongnam, Kim announced plans for grassroots politics, leveraging support from former Gyeongnam Governor Kim Kyung-soo. He stated, "To win the general and presidential elections in Gyeongnam, we need a political leader who can carry on the legacy of Roh Moo-hyun and Moon Jae-in," promising full support for Kim Kyung-soo.He emphasized his commitment to transforming Gyeongnam into a hub for party reform and artificial intelligence (AI) politics, while also appealing for support from party members in Busan by referencing former Presidents Roh and Moon.Jung targeted Kim, who had previously clashed with Roh over a potential unification with candidate Chung Mong-joon during the 16th presidential election. Jung remarked, "One day, Kim Min-seok flew to Chung Mong-joon. Our Roh Moo-hyun supporters remember that well," and criticized Kim for his past comments during Roh's legal troubles.Jung also hinted at his connection to Roh's legacy by mentioning that Kim Jeong-ok, the spouse of former Prime Minister Lee Hae-chan, is serving as his campaign chair.Song raised concerns about Jung's candidacy, questioning why he has remained silent while Jung has attacked the president through writer Yoo Si-min, who has distorted the president's intentions.After narrowly losing by 303 votes in the Chungcheong primary, Jung's victory by 1,514 votes in Bulgyeong marks a significant turnaround. However, analysts note that the close contests between the two candidates over two consecutive days have made predicting the election outcome increasingly difficult. Additionally, the lack of a candidate securing a majority in most regions suggests that preference voting may play a crucial role.The Democratic Party plans to hold primaries in Jeju and Incheon on August 8, in Gangwon, Daegu, and Gyeongbuk on August 9, in Jeonnam, Gwangju, and Jeonbuk on August 15, and in Seoul and Gyeonggi on August 16, before convening a national convention on August 17 to elect a new party leader.* This article has been translated by AI. 2026-08-02 20:20:00
-
Market Turmoil Delays New Listings of Single-Stock Leveraged ETFs The Korea Exchange has informed asset management firms that the review process for new listings of general ETFs may be delayed starting this month due to increased market turmoil surrounding single-stock leveraged ETFs.According to Yonhap News Agency, the Korea Exchange conducted a survey of major asset management firms at the end of last month regarding the demand for upcoming ETF listings. They advised that even if preliminary reviews are requested this month, the schedule may be delayed compared to usual timelines, urging firms to plan accordingly.While new applications can still be submitted, the exchange will prioritize existing review workloads, meaning some listing schedules may be pushed back starting this month.If the exchange's review process is delayed, it could subsequently affect the Financial Supervisory Service's review of securities registration statements and the overall listing schedule, potentially hindering ETF launches.This delay in reviews follows increased market volatility since the listing of single-stock leveraged ETFs at the end of May, which has led to heightened demands for data submissions and responses from the National Assembly and financial authorities.The single-stock leveraged ETFs for Samsung Electronics and SK Hynix have faced criticism for exacerbating losses for individual investors and increasing market volatility during recent declines in semiconductor stocks.It is reported that the ETF listing operations are managed by a limited number of personnel within the exchange. The review team consists of four members, some of whom have been reassigned to handle responses to the National Assembly and financial authorities regarding single-stock leveraged ETFs. This situation has been compounded by the summer vacation season and a backlog of existing reviews.Typically, the review process for an ETF from the exchange to actual listing takes about three to four months. After passing the exchange review, a securities registration statement is submitted to the Financial Supervisory Service, and once the statement takes effect, the listing date is confirmed, followed by the initial setup procedures.As a result, products that applied for preliminary reviews in the second quarter are likely to be launched as scheduled this month and next. In contrast, products applying for review this month that were expected to list in the fourth quarter may face delays. Industry observers warn that if the review delays persist, the number of new ETF launches by year-end could significantly decrease.However, the exchange clarified that it has not restricted new ETF review applications or suspended the listing review process. Concerns have been raised in the industry that asset management firms that have not launched single-stock leveraged ETFs are also being affected by the listing delays as a response to the market turmoil driven by the introduction of these products under the guidance of financial authorities. Notably, smaller asset management firms, for whom launching new ETFs is directly tied to business growth, face greater burdens compared to larger firms that already have established product lines and market shares.* This article has been translated by AI. 2026-08-02 20:12:10
-
Supreme Court: Prosecutorial Intent Must Be Considered in Dismissal of Charges The Supreme Court has stated that "the prosecutor's intent must be comprehensively assessed" regarding the dismissal provisions in the revised Criminal Procedure Law.According to Yonhap News on August 3, the Supreme Court's Court Administration Office submitted materials on the review of prosecutorial abuse legislation to the office of Kim Tae-kyu, a member of the National Assembly from the People Power Party, on July 31.The revised Criminal Procedure Law has newly added grounds for dismissal of charges, including cases where charges are filed based on "serious illegal investigations" and where charges are filed that significantly deviate from prosecutorial discretion. Legal experts have pointed out that while the scope for dismissal has expanded, the specific criteria for judgment remain unclear.In this context, the Court Administration Office explained that "discriminatory prosecution, selective prosecution, delayed prosecution, politically motivated prosecution, and separate prosecution alone cannot be considered prosecutorial abuse."It further stated, "The circumstances surrounding the filing of charges, the prosecutor's intent, the disadvantages incurred by the defendant, and the degree of deviation from prosecutorial discretion must be considered comprehensively in making a judgment."The 2019 Supreme Court ruling referenced by the Court Administration Office indicated that prosecutorial abuse is determined when "the prosecutor arbitrarily exercises prosecutorial authority, causing substantial disadvantages to the defendant, thereby significantly deviating from prosecutorial discretion."Additionally, it noted that "arbitrary exercise of prosecutorial authority is not merely due to negligence in duty but must involve at least some intent, even if indirect."Ultimately, the determination of prosecutorial abuse will hinge on whether the prosecutor's intent is reflected in the arbitrary exercise of prosecutorial authority.Moreover, it was stated that "the specific criteria for judgment regarding the dismissal provisions are expected to be established through future Supreme Court rulings."Previously, Lee Jin-soo, the Deputy Minister of Justice, argued at a National Assembly legislative review subcommittee that "dismissal of charges should only be possible in cases where there is arbitrary judgment by the prosecutor in filing charges."* This article has been translated by AI. 2026-08-02 19:52:00
-
Fire on Indonesian Passenger Ferry Claims 5 Lives, 41 Missing A fire broke out on a passenger ferry operating in East Java, Indonesia, resulting in the deaths of five people and leaving over 40 missing.According to reports from Indonesian media outlet Kompas TV and China's state-run Xinhua News Agency, the fire occurred around 6 a.m. on August 1 near Madura Island. The ferry, named Mutiara Sentosa II, was carrying approximately 270 passengers and crew members at the time.The Indonesian National Search and Rescue Agency confirmed that five individuals have died and 41 are missing, while 225 others have been rescued.Initially, it was reported that around 250 people were on board, but it has since been confirmed that 271 were actually present.At the time of the incident, the ferry was en route from Surabaya, Indonesia's second-largest city, to Makassar in South Sulawesi. The shipping company received a report from the captain about the fire earlier that morning.Indonesian authorities stated that the vessel was engulfed in flames and have deployed rescue teams and boats to search the area. They indicated that an investigation into the cause of the fire would commence once the rescue operations are completed.* This article has been translated by AI. 2026-08-02 19:36:00
-
Extreme Heat Hits Gwangju and Jeonnam, Gwangyang Records 41 Degrees Celsius As extreme heat continues to grip the region, Gwangyang in Jeonnam has recorded a daytime high exceeding 40 degrees Celsius for the first time in eight years.According to Yonhap News, the Gwangju Regional Meteorological Administration reported that temperatures reached 41 degrees Celsius at around 3:21 PM on August 2 at a non-official observation site in Gwangyang-eup.While this site is not the official observation point for Gwangyang City, the last time temperatures surpassed 40 degrees was on August 1, 2018, when 40.1 degrees was recorded in the Seo-gu district of Gwangju.Based on official records, the highest temperature ever recorded at the region's main observation site was 39.4 degrees Celsius at the Juwon Observatory in Suncheon on July 24, 1994.The heat wave, which began after the end of the monsoon season, is expected to persist for the time being. Currently, there are no forecasts for rain in the area, and most regions are expected to experience a perceived temperature exceeding 35 degrees Celsius.Additionally, the phenomenon of tropical nights, where nighttime temperatures remain above 25 degrees Celsius, is expected to continue. A heat wave warning will be in effect from 11 AM on August 3 for Gwangju, Suncheon, and the eastern regions of Gwangju. This warning represents the highest alert level, having been strengthened and newly established for the first time in 18 years since the introduction of the heat wave warning system in 2008.* This article has been translated by AI. 2026-08-02 19:20:00
-
K-AI Project's Second Evaluation Approaches, SKT and Upstage Lead The second phase evaluation of the 'Independent Artificial Intelligence (AI) Foundation Model (IndepAI)' project, promoted by the Ministry of Science and ICT, is approaching. While participating companies have demonstrated competitiveness in specialized fields such as Korean language, mathematics, and science, significant gaps remain in operating large-scale models and inference efficiency compared to global frontier models.According to industry sources on August 2, SK Telecom, Upstage, and LG AI Research Institute, which are part of the IndepAI project, unveiled their models on Hugging Face last month. Additionally, Motif Technologies, which joined later, also showcased a preview version.An analysis of the model cards released on Hugging Face revealed seven benchmarks with similar names: mathematical reasoning, scientific reasoning, advanced comprehensive reasoning, instruction execution, long-form reasoning, Korean knowledge, and Korean culture and common sense. The common benchmarks include evaluations specialized in Korean language and cultural understanding.SKT's A.X K2 achieved the highest scores among the three models in four benchmarks: Korean culture and common sense (91.6 points), Korean knowledge (80.5 points), long-form reasoning (66.0 points), and mathematical reasoning (97.1 points). Upstage's Solar Open 2 scored relatively high in three benchmarks: scientific reasoning (86.3 points), advanced comprehensive reasoning (28.8 points), and instruction execution (80.0 points).In contrast, LG AI Research Institute's K-EXAONE 2.0, which ranked first in the initial evaluation, did not achieve the highest score in any of the seven common benchmarks.LG AI Research Institute leads in model size, with K-EXAONE boasting 750 billion parameters, the largest in the country. The institute plans to enhance data quality and employ reinforcement learning to develop a globally competitive model.Im Woo-hyung, co-research director at LG AI Research Institute, stated, "The current model is not a finished product but a starting point for developing a frontier-level model. We will enhance K-EXAONE's performance through data quality improvement, follow-up learning, reinforcement learning, and refining inference technology."However, experts note that the models released are preview versions and not the final submissions, indicating limitations in assessing global competitiveness. The public benchmarks also heavily emphasize specialized areas such as Korean language and cultural understanding, suggesting that the results primarily highlight each company's strengths and technological direction rather than a direct comparison with global models.Bong Gang-ho, a senior researcher at the Software Policy Research Institute, remarked, "The results are significant in confirming whether global frontier-level competitiveness has been secured in certain areas rather than evaluating if all performance metrics surpass global models. The technologies and development experiences accumulated through the IndepAI project will serve as a foundation for future domestic AI competitiveness."The competition among global frontier models is intensifying, not only in terms of model size but also in inference efficiency. Recently, China's Moonshot AI unveiled the 'Kimi K3,' which has a total parameter size approximately 3.7 times larger than K-EXAONE and integrates long-form processing, multimodal capabilities, and agent functions.Notably, Kimi K3 employs a sparse (MoE, Mixture of Experts) structure, selecting only 16 out of 896 experts for computation, reducing the active parameter ratio to about 3.7%. This approach maintains a large model while lowering computational load and costs, thereby enhancing inference efficiency. In contrast, the active parameter ratio for domestic models is around 4.1% to 6.0%, indicating that the technological competition to improve inference efficiency in large models is gaining momentum.* This article has been translated by AI. 2026-08-02 18:32:00