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  • Court Extends Decision on JTBCs Rehabilitation Process by One Month
    Court Extends Decision on JTBC's Rehabilitation Process by One Month A South Korean court has decided to postpone its ruling on whether to initiate court management proceedings for JTBC by one month. This decision was made to allow more time for negotiations between JTBC and its creditors regarding voluntary debt restructuring.On July 29, legal sources reported that the Seoul Bankruptcy Court's Rehabilitation Division 2, led by Chief Judge Jeong Jun-young, extended the deadline for the decision on the rehabilitation process from July 30 to August 30. This extension aims to facilitate the ongoing Autonomous Rehabilitation Support (ARS) process that JTBC is pursuing.The ARS system allows the court to defer its decision on initiating court management for a set period, enabling the indebted company and its creditors to negotiate a debt restructuring plan autonomously.Previously, on June 15, JTBC applied to the court to begin rehabilitation proceedings while also seeking to engage in ARS negotiations with its creditors. The court accepted this request, initiating the related procedures.Unlike traditional court management, where the court intervenes directly, the ARS process allows companies to take the lead in developing recovery plans, minimizing damage to brand and corporate value. Additionally, since this process occurs before formal rehabilitation proceedings begin, it ensures that the rights of existing creditors and shareholders are not unilaterally diluted or harmed during negotiations.Under current law, if the court approves the ARS application, it can postpone the decision on initiating rehabilitation proceedings for up to three months. If significant progress is made during negotiations with creditors, the court may further extend the postponement at its discretion.If JTBC and its creditors reach a voluntary agreement by the extended deadline of August 30, JTBC will officially withdraw its rehabilitation application and implement its self-developed ARS recovery plan. However, if negotiations ultimately fail, the court will promptly review whether to initiate court management proceedings.This situation arose after JTBC declared a default on June 12, failing to repay a total of 20.6 billion won in maturing liquidity loans. The liquidity crisis of its main affiliate rapidly worsened, leading to a series of rehabilitation applications from major affiliates of the Joongang Group.Two days after the default declaration, on June 14, the group's holding company, Joongang Holdings, along with Contentree Joongang, Joongang P&I, and Megabox Joongang, filed for rehabilitation proceedings with the court. Subsequently, on June 15, JTBC, the source of the crisis, also submitted its rehabilitation application.In contrast to JTBC's ARS process, the four affiliates that applied for rehabilitation have already had their proceedings formally initiated by the court. The court has notified these affiliates of the deadlines for submitting creditor lists and rehabilitation plans.The deadlines for submitting rehabilitation plans are set for December 1 for Megabox Joongang, December 15 for Contentree Joongang, and December 22 for Joongang Holdings and Joongang P&I. 2026-07-29 17:24:00
  • After BTS comeback year, whats next for K-pop?
    After BTS comeback year, what's next for K-pop? SEOUL, July 29 (AJP) - K-pop continues to debut new groups, dominate global streaming platforms and fill concert halls from Los Angeles to Bangkok. The industry's talent pipeline remains as prolific as ever, producing acts not only in South Korea but increasingly through overseas partnerships and local adaptations. Yet beneath the steady flow of new debuts lies a quieter reckoning. While visibility has never been broader, far fewer acts are reaching the commercial scale needed to generate the blockbuster album sales, stadium tours and merchandise revenue that underpin the industry's biggest companies. It is the same question now confronting South Korea's semiconductor industry: not whether demand has peaked, but whether the industry's growth model has. K-pop is not facing an immediate collapse. Major entertainment agencies remain profitable, younger artists continue to break through on streaming platforms, and overseas demand continues to expand. But physical-album sales have retreated from their pandemic-era highs, blockbuster releases have become less frequent, and earnings across the industry's largest companies remain heavily dependent on a small group of established stars. The numbers illustrate the shift. Total K-pop physical-album shipments fell from roughly 120 million units in 2023 to 98.9 million in 2024 before slipping further to about 93.5 million in 2025, remaining below the 100 million mark for a second consecutive year. The number of albums selling more than three million copies also declined from 11 in 2023 to seven in 2024. The figures do not suggest listeners are abandoning K-pop. Rather, they point to a widening gap between attention and spending. Streaming has made it easier than ever for audiences to discover new artists. But listening does not necessarily translate into purchases. A fan may stream dozens of groups while buying albums, concert tickets or merchandise from only one or two. As the number of releases grows, visibility has become easier to achieve than commercial scale. The industry's economics are becoming increasingly concentrated. That trend is reflected in trade data as well. Korea Customs Service figures show physical-album export revenue reached a record $120 million in the first quarter of 2026, up 159 percent from a year earlier, despite lower shipment volumes. The United States overtook Japan as the largest export market after revenue surged 506 percent, while exports to the European Union climbed 462 percent. The divergence suggests K-pop's business model is evolving rather than simply shrinking. Industry analysts say Western consumers are more likely to purchase albums at full retail prices, unlike the bulk-buying campaigns and discount-heavy sales common in South Korea and China. Fewer albums are being shipped, but each album is generating more revenue. The industry is increasingly relying on a smaller base of higher-value overseas consumers instead of ever-expanding unit sales. If industry-wide data reveal the structural shift, HYBE's latest earnings show what it means in practice. BTS overhang HYBE reported record second-quarter revenue of 1.45 trillion won, up 105.5 percent from a year earlier and 107.6 percent from the previous quarter. Operating profit surged 159.3 percent to 170.9 billion won. The extraordinary performance was driven overwhelmingly by one factor: BTS. HYBE's quarterly revenue had remained remarkably stable, fluctuating between roughly 698 billion won and 727 billion won over the previous four quarters. Once BTS' "ARIRANG" world tour entered full operation, revenue nearly doubled. Concert revenue jumped 243.3 percent year-on-year to 647.7 billion won. Merchandise and licensing revenue more than doubled to 310.6 billion won, while recorded-music revenue rose 43 percent to 326.8 billion won. Other artists also contributed. SK Securities cited million-selling releases from TXT, BOYNEXTDOOR, TWS and Cortis, together with strong U.S. vinyl sales for BTS. But none altered HYBE's financial scale the way BTS did. The market reaction underscored the distinction. Despite beating consensus estimates for both revenue and operating profit, HYBE shares fell about 16 percent after the earnings announcement. SK Securities noted that operating margins fell short of expectations because concerts carry higher artist settlement costs than recorded music. Investors were not questioning BTS' commercial power. They were questioning how much of that growth could be repeated once the current touring cycle concludes. That may be the defining challenge facing the industry. HYBE has positioned Cortis as one of its next global growth engines. The group has surpassed 12.7 million monthly Spotify listeners, while its second EP, GREENGREEN, has sold more than 3 million copies and remained on the Billboard 200 for 11 consecutive weeks. Those achievements make Cortis one of K-pop's most promising new acts. They do not yet demonstrate that the group can generate the stadium tours, merchandise demand and company-wide earnings impact that BTS continues to deliver. Breaking through and becoming a new financial engine are no longer the same thing. The same pattern appears across South Korea's other major entertainment companies. SM Entertainment posted first-quarter revenue of 279.1 billion won, up 20.6 percent from a year earlier, while operating profit rose 18.4 percent to 38.6 billion won, supported largely by concerts and merchandise sales. Yet forecasts for the full year differ sharply. Korea IR Service expects revenue to rise just 1.2 percent and operating profit 0.6 percent, while LS Securities projects increases of 9.3 percent and 7.9 percent, respectively. The gap reflects uncertainty over whether expanding concert activity and younger artists can offset softer album sales and rising overseas operating costs. JYP Entertainment faces a more immediate slowdown. Eugene Investment & Securities forecasts second-quarter revenue of 190.2 billion won, down 11.9 percent from a year earlier, while operating profit is expected to fall 27.3 percent to 38.5 billion won. The brokerage attributed the weakness partly to modest album sales despite releases from ITZY, NMIXX, KickFlip, NEXZ and Xdinary Heroes. Growth is expected to improve later this year as Stray Kids launches another global tour. Even so, analysts argue that younger groups such as NMIXX and KickFlip must demonstrate meaningful fandom expansion as TWICE approaches another contract-renewal cycle and Stray Kids gradually moves closer to military service. YG Entertainment faces a similar challenge. Second-quarter revenue is expected to increase 10 percent year-on-year to 110.6 billion won, but operating profit is forecast to decline 12 percent to 7.4 billion won as weaker touring activity, heavier production spending and softer merchandise sales weigh on margins. Analysts expect earnings to recover through renewed activities by BABYMONSTER and TREASURE, together with a planned BIGBANG stadium tour. But that outlook reinforces the same structural reality. The next meaningful jump in earnings still depends largely on the next comeback from an already established act. None of this suggests K-pop is entering structural decline. Major agencies are still expected to post positive full-year growth, streaming audiences continue to expand globally and export revenue has reached record highs. The industry's problem lies elsewhere. Its cultural reach continues to widen faster than its commercial foundations. One development could still reshape the equation: China. Following a November 2025 summit between Seoul and Beijing, the two governments have signaled a gradual thaw in cultural restrictions that have largely constrained Korean entertainment activities in mainland China since 2016. Earlier this year, Dream Concert 2026 became the first major Korean music event in years to be broadcast in mainland China through Hunan Television. Entertainment companies are already positioning themselves for a broader reopening. HYBE has expanded its Beijing operations and sold a stake to Tencent Music Entertainment, while analysts covering SM Entertainment identify China as the market with the greatest upside should large-scale concerts resume. None of those expectations has yet translated into earnings, and Beijing has given no indication that it plans to fully remove informal restrictions on Korean entertainment. But China remains the industry's clearest opportunity to reignite growth without waiting for another once-in-a-generation global superstar to emerge. Absent such a catalyst, the industry's challenge is becoming increasingly apparent. K-pop continues to produce successful debuts, streaming hits and global cultural influence. What it is producing less frequently are artists capable of sustaining multi-million album sales, global stadium tours and merchandise ecosystems large enough to transform a company's financial trajectory. That leaves agencies increasingly reliant on volatile comeback schedules, expensive touring cycles and a small number of flagship artists whose commercial power remains difficult to replicate. It also helps explain why investors have become more cautious toward entertainment stocks. The question is no longer whether earnings can continue growing. It is whether that growth can become broad-based enough to sustain premium valuations. 2026-07-29 17:21:57
  • Binggrae Foundation Awards Scholarships to Descendants of Independence and National Heroes
    Binggrae Foundation Awards Scholarships to Descendants of Independence and National Heroes The Binggrae Foundation announced that it held a scholarship award ceremony for 94 students at the Baekbeom Kim Gu Memorial Hall in Yongsan, Seoul, in collaboration with the Ministry of Veterans Affairs. A total of 150 million won in scholarships was distributed on July 29.The scholarship recipients were selected from the descendants of independence heroes and national heroes (uniformed service members) based on recommendations from the Ministry of Veterans Affairs. The ceremony included remarks from two student representatives.Since signing a memorandum of understanding with the Ministry of Veterans Affairs in 2018, marking the 100th anniversary of the March 1st Movement and the establishment of the Provisional Government of the Republic of Korea, the Binggrae Foundation has continued its scholarship program for descendants of independence heroes. Over the past nine years, it has provided a total of 720 million won in scholarships to 509 recipients.Last year, the annual scholarship amount was increased from 60 million won to 150 million won, and starting this year, the program has been expanded to include descendants of national heroes (uniformed service members).The Binggrae Foundation, established in 2011 with contributions from Binggrae, is a public interest corporation. The scholarship program for descendants of independence heroes was initiated by Kim Ho-yeon, chairman of Binggrae, who has shown a commitment to promoting the legacy of the independence movement. Kim, the grandson-in-law of Baekbeom Kim Gu, has established the Kim Gu Foundation and serves as vice president of the Baekbeom Kim Gu Memorial Association, president of the Lee Bong-chang Memorial Association, and a board member of the Independence Hall.A representative from the Binggrae Foundation stated, "We have expanded the scholarship program to include descendants of national heroes this year, and we will continue to carry on the legacy of independence heroes and national heroes for future generations."Independence heroes are those who dedicated themselves to restoring national sovereignty during the Japanese colonial period, while national heroes are individuals who contributed to or sacrificed for the nation, including fallen soldiers and those who died in service.* This article has been translated by AI. 2026-07-29 17:15:00
  • Pukyong National University Accelerates Implementation of Modular Track Curriculum
    Pukyong National University Accelerates Implementation of Modular Track Curriculum Pukyong National University is preparing to fully implement its modular track curriculum for the 2027 academic year.The modular track is a student-centered educational program that organizes courses into modules based on similar academic themes and educational characteristics, aligning them with students' career goals and industry job demands.Currently, this system is being piloted in 11 departments, including International Development Cooperation, Microbiology, and Smart Mobility Engineering, and will be expanded to all departments next year.In response to concerns about potential confusion due to the short preparation period, the university's Educational Innovation Office stated that it has established comprehensive administrative and institutional measures.Kim Bo-ram, an official at the Educational Innovation Office, said, "We have already completed the construction of the course registration system to address issues identified during last year's pilot program," adding that a comprehensive development manual and guide videos for faculty will be distributed in August.To enhance student accessibility, a dedicated information page for the modular track is also being developed on the university's internal network, 'Pukyong Eye.' The university has conducted four on-site briefings for each college since March and plans to hold an additional briefing on August 13 to improve understanding of the system.The pipeline for nurturing research talent from undergraduate to graduate studies will also be strengthened. The Smart Mobility Engineering department, which is part of the pilot program, has previously developed a 'graduate linkage' track alongside advanced and industry-linked tracks.In line with this, the university is discussing amendments to its regulations to increase the limit on prerequisite credits for graduate courses from 6 to 9. Additionally, practical courses for graduate students will be included in the undergraduate linkage track to allow for credit recognition, with inter-departmental discussions underway.Furthermore, to match industry job demands, the design of industry-linked education is being enhanced. The university has conducted in-depth surveys of family companies and businesses where alumni are employed, as well as internal and external environmental analyses by professional consulting firms, to incorporate essential competencies into the pilot department curriculum.On July 29, Pukyong National University held a 'Modular Track Curriculum Promotion Monitoring Group Results Report Meeting' at Dongwon Hall, discussing student-centered operational strategies. The diverse feedback collected from student supporters (CICA) and the monitoring group will be actively reflected in the curriculum revisions and the development of career roadmaps for each major for the 2027 academic year.Won Yong-seon, head of the Educational Innovation Office, stated, "We will continuously incorporate the diverse opinions of educational consumers to create a curriculum that allows students to design their own career paths and grow."* This article has been translated by AI. 2026-07-29 17:12:00
  • Hanwha Solutions Q2 profit more than triples on renewable energy strength
    Hanwha Solutions' Q2 profit more than triples on renewable energy strength SEOUL, July 29 (AJP) - Hanwha Solutions said Wednesday its second-quarter operating profit more than tripled from the previous quarter, helped by stronger earnings from its renewable energy, chemical and advanced materials businesses. The company posted 4.58 trillion won ($3.2 billion) in consolidated sales and 306.5 billion won in operating profit in the April-June period. Sales rose 18 percent from 3.88 trillion won in the first quarter, while operating profit jumped 231 percent from 92.6 billion won, marking a second consecutive quarterly profit. The renewable energy division recorded 2.48 trillion won in sales and 166.4 billion won in operating profit, up from 2.11 trillion won in sales and 62.2 billion won in operating profit three months earlier. Hanwha Solutions attributed the improvement on higher module selling prices, the sale of development assets and a stable revenue base from its residential energy business. The chemical division also extended its recovery, with sales rising to 1.47 trillion won from 1.34 trillion won in the previous quarter. Operating profit more than doubled to 87.1 billion won from 34.1 billion won, as the company maintained stable production and sales by securing key raw materials, including ethylene, despite geopolitical risks in the Middle East. The advanced materials division posted 300.3 billion won in sales and 28.8 billion won in operating profit, compared with 285.6 billion won in sales and 12.2 billion won in operating profit in the first quarter. The company said profitability improved on continued strong sales of solar materials in North America. “Revenue from the residential energy business is expected to increase in the third quarter, and the renewable energy division is projected to maintain solid earnings as the full solar value chain at the Cartersville plant begins full-scale operations,” said Lee Jae-bin, chief financial officer of Hanwha Solutions. 2026-07-29 17:07:10
  • SK Innovation Proposes LNG and SMR Collaboration to Meet Vietnams AI Power Demand
    SK Innovation Proposes LNG and SMR Collaboration to Meet Vietnam's AI Power Demand SK Innovation has outlined a phased energy cooperation plan that links liquefied natural gas (LNG) and small modular reactors (SMR) to address the rapidly increasing power demand in Vietnam driven by artificial intelligence (AI) and advanced industrial growth.In the short term, the plan aims to enhance power supply stability by utilizing LNG supply chains based in the United States and Australia, while expanding cooperation into next-generation SMR technology in the long term.Choo Hyung-wook, CEO of SK Innovation, visited Vietnam on July 16-17 to meet with key officials from the Ministry of Industry and Trade and the state-owned energy company PetroVietnam (PVN) and its power subsidiary, PV Power, to discuss energy and advanced technology collaboration.The discussions were prompted by forecasts indicating a sharp increase in Vietnam's power demand due to the growth of AI data centers and semiconductor industries.To attract large power-consuming AI data centers and advanced manufacturing facilities, a stable power supply infrastructure must be established first. The speed at which power infrastructure can be expanded will significantly impact Vietnam's competitiveness in the AI industry and its ability to attract investment.Choo stated, "The rapid advancement of AI is expected to lead to an explosive increase in power demand, and for the time being, LNG is a suitable solution to ensure energy security."SK Innovation proposed expanding LNG power generation as a practical response to Vietnam's short-term power demand increase.While Vietnam's power demand is rising due to economic growth and manufacturing expansion, fluctuations in international LNG prices and supply are seen as burdensome factors for expanding gas power projects.SK Innovation plans to leverage its gas field assets and long-term LNG contract portfolio in the U.S. and Australia to provide fuel at competitive prices for Vietnam's gas power projects.Diversifying supply regions will reduce dependence on specific areas and mitigate geopolitical risks. The company aims to establish a stable fuel procurement system by linking U.S. and Australian LNG to Vietnam's power generation projects amid uncertainties in the global energy market.While LNG serves as a short-term solution to meet immediate power demand, next-generation SMR technology is proposed as a long-term stable power source.SK Innovation is collaborating with TerraPower in the U.S. to commercialize sodium-based fourth-generation reactor technology. Sodium reactors are designed to integrate energy storage systems, allowing for flexible responses to changes in power demand. SK Innovation aims to commercialize this technology by 2030.Beyond just power generation and fuel supply, SK Innovation is also working to establish an energy and industrial ecosystem that connects LNG power plants, industrial complexes, and AI data centers.The company plans to apply a specialized energy-industrial cluster (SEIC) model to attract AI data centers and advanced manufacturing facilities near the Quang Ninh LNG combined cycle power project currently underway in Vietnam.By attracting large power demand centers near power plants, the stability of power generation projects can be enhanced. In Vietnam, this could lead to increased investment, employment, and technology transfer in advanced industries based on power.In the long term, it is expected that the scope of cooperation can be expanded beyond LNG power generation to include renewable energy and energy storage systems (ESS).Choo expressed hope that after the verification and commercialization of next-generation SMR technology, a long-term partnership with PVN in the nuclear power sector can be established.Meanwhile, SK Innovation E&S announced on July 27 that it would bring ultra-light crude oil secured from the Barossa gas field in Australia to South Korea.* This article has been translated by AI. 2026-07-29 17:06:00
  • National Assembly Hearing on Korean Football Association Set for July 30
    National Assembly Hearing on Korean Football Association Set for July 30 A National Assembly hearing aimed at uncovering administrative issues within Korean football, sparked by the 2026 FIFA North and Central America World Cup debacle, is scheduled for July 30. However, concerns are rising that the hearing may lack effectiveness due to the absence of key figures who have cited overseas employment as a reason for not attending.The National Assembly's Culture, Sports and Tourism Committee will hold the hearing to investigate procedural problems in the appointment process of the national team coach and the overall operations of the Korean Football Association (KFA). Originally set for July 22, the hearing was postponed due to negotiations over the Assembly's composition.Chung Mong-kyu, the former KFA president, and Hong Myung-bo, the former national team coach, who both resigned following the team's failure to advance in the World Cup (with a record of one win and two losses), are expected to testify. Notably, Hong, who faced criticism for leaving the country shortly after the World Cup exit, has reportedly returned to prepare for the hearing.Lee Yong-soo, KFA vice president, Kim Seung-hee, executive director, and Jeong Hae-sung, former head of the national team reinforcement committee, are also set to attend.The primary focus of the hearing will be the appointment process of Hong as coach. The KFA faced severe criticism for allegedly disregarding internal regulations and conducting a 'behind-closed-doors' selection process.At the time, the KFA's reinforcement committee, responsible for vetting new coaches, was not functioning effectively. Lee Im-sang, the former technical director who had no authority to recommend coaches, took full control of the selection process after the resignation of the committee's chair. He interviewed foreign candidates such as David Wagner and Gus Poyet in Europe and then conducted a solo interview with Hong at his home late at night, without any observers or prior questions, raising concerns about the transparency and fairness of the process.However, the absence of key witnesses is expected to limit the effectiveness of the verification process. Lee Im-sang, who led the appointment of Hong, will not attend the hearing. According to News1, he has submitted a notice of absence due to his recent appointment as the technical director of Nagaworld FC in Cambodia.Former KFA vice president Park Hang-seo, who served as the World Cup support director, has also notified the committee of his absence due to his new role as head coach of Kanchanaburi Power FC in Thailand. Other witnesses, including Park Ji-sung, co-chair of the K-Football Innovation Committee, and committee members Lee Young-pyo and Park Joo-ho, will also miss the hearing for personal reasons.With some key witnesses absent, the committee will question those present about the KFA's opaque decision-making structure and administrative practices.The hearing will also investigate allegations regarding the dispatch of an executive from HDC Group, led by Chung, to the KFA. According to KFA regulations, external personnel can only be dispatched for a maximum of two years. However, this executive has reportedly been involved in KFA administrative tasks for 11 years, from 2013 to 2024, earning approximately 1 billion won, raising suspicions of impropriety and favoritism.Additionally, allegations of improper use of a corporate credit card by Hong will be scrutinized. He is accused of spending about 14 million won of the 37.42 million won used during his tenure at hotels and restaurants in the Bundang area of Seongnam, where his residence is located. In response, Hong's representatives stated that meetings were held at a shared office near Bundang due to the location of the foreign coaching staff's residences, and that expenses incurred on holidays were related to national team duties, including K-League player evaluations. They plan to provide supporting documents during the hearing. 2026-07-29 17:06:00
  • South Korea completes decade-long development of homegrown KF-21 fighter jet
    South Korea completes decade-long development of homegrown KF-21 fighter jet SEOUL, July 29 (AJP) - South Korea has completed the development of its first homegrown KF-21 fighter jet, dubbed Boramae, marking the completion of a decade-long project launched in December 2015. At a ceremony held at Korea Aerospace Industries (KAI)'s headquarters in Sacheon, South Gyeongsang Province on Wednesday, the Defense Acquisition Program Administration (DAPA) officially declared the completion of the project, with key officials from government agencies, institutions and companies in attendance, as well as defense ministry officials from Indonesia participating in the project as a partner. First envisioned in August 2001, when then-President Kim Dae-jung set out plans to develop an advanced homegrown fighter jet, the project began in December 2015. Its prototype was rolled out in April 2021, and the first mass-produced aircraft rolled out in March this year. After years of challenges, the KF-21 was finally assessed to be "combat suitable" in May this year, clearing the final hurdle in the fighter development process. Six KF-21 prototypes completed about 1,600 high-difficulty flight tests over the past 42 months without a single accident, according to DAPA. "We will promote the excellence of the KF-21, which has once again demonstrated the country's strength by achieving self-reliant defense," DAPA commissioner Lee Yong-cheol said at the ceremony. The KF-21 is a next-generation fighter jet equipped with an integrated electronic warfare system, making South Korea the world's eighth country to develop an advanced supersonic fighter jet. It has a top speed of Mach 1.81 (2,200 kph), a range of 2,900 kilometers and a weapons payload capacity of 7.7 tons. Designed with future upgrades in mind including the potential addition of stealth capabilities, the aircraft is expected to further enhance its capabilities over time. DAPA plans to deliver the first batch of 40 KF-21 fighter jets equipped with air-to-air combat capabilities to the Air Force by 2028, followed by an additional 80 aircraft with enhanced capabilities by 2032, bringing the total number of KF-21s in deployment to 120. 2026-07-29 17:05:39
  • Pulmuone Expands Cooperative Efforts with 14 Partners in Chungbuk, Launches 31 Support Projects
    Pulmuone Expands Cooperative Efforts with 14 Partners in Chungbuk, Launches 31 Support Projects Pulmuone has established a cooperative framework to enhance worker welfare and create a sustainable ecosystem in the Chungbuk food industry.On July 28, Pulmuone signed a 'Cooperation Agreement for Reducing Gaps in the Chungbuk Food Industry' at Seosin Food Co. in Eumseong County, in collaboration with the Ministry of Employment, Chungbuk Province, eight cities in Chungbuk, and key partner companies. The announcement was made on July 29.The agreement aims to reduce disparities between companies and regions in the food manufacturing sector and improve working conditions to stabilize the industrial ecosystem. Approximately 50 attendees were present at the signing ceremony, including Yeon Chang-seok, head of the Cheongju branch of the Ministry of Employment, Lee Bok-won, Vice Governor of Chungbuk Province, Kim Jong-heon, head of Pulmuone's Management Planning Division, and Lee Seung-jae, CEO of Seosin Food.Under the agreement, Pulmuone and the related organizations will implement a total of 31 tailored support projects for 14 partner companies, including Seosin Food. Key support initiatives will focus on workforce development and welfare enhancement, improving working conditions and safety, establishing smart factories, providing ESG and quality consulting, and expanding market access.Pulmuone has previously operated cooperative programs for its partners, including promoting fair trade, enhancing ESG capabilities, supporting smart factory development, and managing a shared growth fund. This agreement aims to elevate existing cooperative management practices and simultaneously enhance productivity and competitiveness among Chungbuk partners while improving working conditions and welfare standards, thereby strengthening the growth foundation of the local food industry.The government and local authorities will provide administrative and financial support to promote job creation and reduce welfare disparities. Based on this, Pulmuone plans to enhance the self-sufficiency of its partners and expand the cooperative model to other industries in the region.Kim Jong-heon, head of Pulmuone's Management Planning Division, stated, "This agreement will serve as an opportunity to address the structural gaps in the Chungbuk food industry and achieve co-growth with small and medium-sized enterprises. We will create exemplary cases of cooperation by supporting substantial improvements in working conditions and sustainable growth."* This article has been translated by AI. 2026-07-29 17:03:00
  • Kim Soo-hyun Cleared of Charges Related to Alleged Underage Relationship with Kim Sae-ron
    Kim Soo-hyun Cleared of Charges Related to Alleged Underage Relationship with Kim Sae-ron Actor Kim Soo-hyun has been cleared of allegations that he dated the late Kim Sae-ron while she was a minor.According to police reports, the Seongdong Police Station in Seoul decided not to pursue charges against Kim Soo-hyun for violations of the Child Welfare Act and false accusations due to insufficient evidence.Last May, Kim Sae-ron's family filed a complaint against Kim Soo-hyun, claiming he had been in a relationship with her since she was a minor.During a press conference, the family revealed recordings of conversations that Kim Sae-ron had with acquaintances, suggesting she had been dating Kim Soo-hyun since middle school.In response, Kim Soo-hyun's team denied the allegations, asserting that the recordings were fabricated using artificial intelligence.During the investigation, police examined evidence suggesting the recordings may have been manipulated, along with forensic results from Kim Sae-ron's mobile phone. They ultimately concluded there was a lack of objective evidence to substantiate the allegations against Kim Soo-hyun.The controversy over the timeline of their relationship began in March of last year when Kim Se-yi, the operator of the YouTube channel Garoseyoro Research Institute, claimed that Kim Sae-ron had been in a relationship with Kim Soo-hyun for about six years starting when she was 15.While Kim Soo-hyun acknowledged that they had dated, he refuted claims that their relationship began when Kim Sae-ron was a minor, stating they were together from the summer of 2019 until the fall of 2020, after she had turned 18.Following the allegations, Kim Soo-hyun initiated legal action against Kim Se-yi and the family, who also filed charges against him for violations of the Child Welfare Act and false accusations.* This article has been translated by AI. 2026-07-29 17:03:00