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Korea Begins Construction of Next-Generation Light Source Facility South Korea has officially begun construction on the Korea Light Source (KLS), a fourth-generation synchrotron facility that will usher in a new era of multimodal research, enabling simultaneous analysis of the internal structures, atomic arrangements, and electronic states of materials essential for semiconductor, battery, and drug development.The groundbreaking ceremony took place on July 27 at the KLS site in Ochang, North Chungcheong Province, attended by officials from the Ministry of Science and ICT and the Korea Basic Science Institute (KBSI). Kwon Hyuk-chae, the first vice minister of the Ministry of Science and ICT, stated, "We will elevate the technological standards of the semiconductor, battery, and bio industries with KLS, and the government will spare no effort in providing budget and policy support for the successful execution of this project."The KLS will be developed on a 540,000 square meter site, equivalent to about 74 soccer fields. It will consist of a linear accelerator, booster, an 800-meter circumference storage ring, and beamlines, forming a large-scale national research infrastructure. The facility is expected to be completed by the end of 2029. Shin Seung-hwan, head of the KLS construction project, noted, "We plan to conduct pilot operations in 2030, allowing researchers to fully utilize the facility starting in 2031."The synchrotron accelerates electrons to nearly the speed of light and rotates them approximately 375,000 times per second in the circular storage ring, generating powerful synchrotron radiation. This radiation allows for precise analysis of the atomic structure, chemical properties, and electronic states of materials. Often referred to as a "super microscope," it will be utilized in various fields, including semiconductor, battery, bio, drug, and advanced materials research and development.A key difference between the KLS and the existing Pohang third-generation synchrotron is the brightness of the synchrotron radiation. Shin explained, "The performance of the accelerator depends on how densely the magnets are arranged in the storage ring. In the fourth generation, the number and density of magnets will significantly increase, enhancing the brightness of the synchrotron radiation by more than 100 times compared to the third generation."Increased brightness will not only reduce the time required for experiments but also enable analysis of previously difficult-to-observe microscopic areas. Researchers will be able to observe in real-time how the movements of atoms and electrons change during the actual operation of semiconductor devices and battery materials.Kim Jae-young, director of the Pohang Accelerator Laboratory, emphasized, "Previously, internal imaging, electronic structure, and atomic structure of materials were measured separately. With the KLS operational, a new research era will open where these three pieces of information can be analyzed simultaneously."KBSI plans to initially establish 10 beamlines, with a long-term goal of expanding to 40. Beamlines are pathways that deliver synchrotron radiation generated by the accelerator to experimental devices. Of the initial 10 beamlines, three will be prioritized for industrial support, focusing on bio and drug development, battery and advanced materials, and semiconductor research. The remaining seven will be utilized for basic science and academic R&D.Shin stated, "While the configuration of the initial 10 beamlines is set, we are continuously discussing with users what scientific achievements can be made at each beamline. This collaborative framework will also be applied during the construction of the additional 40 beamlines."The project team anticipates that the KLS will offer world-class performance at a competitive price. While some countries, including China, have extended their storage rings to 1.3 to 1.4 kilometers to maximize energy and performance, the KLS is designed to deliver top performance in experimental areas primarily utilized by domestic researchers and companies. 2026-07-27 14:40:00 -
Korean Tourism Foundation CEO Gi Gyeon Gil Completes Five-Year Term Gi Gyeon Gil, CEO of the Seoul Tourism Foundation, has completed his five-year term. The foundation has begun the process of publicly recruiting a new CEO.Gi, who took office on July 26, 2021, served his initial three-year term and was re-elected twice in 2024 and 2025, totaling five years in the role.The farewell ceremony was held on July 24 at the foundation's headquarters, attended by the director of the Seoul City Tourism and Sports Bureau and foundation staff. The event included a video presentation of key activities during his tenure, farewell speeches, and the presentation of a plaque of appreciation.Expansion of Urban Hiking Tourism Centers and Seasonal FestivalsDuring Gi's tenure, the foundation developed and showcased tourism content utilizing Seoul's unique resources, such as hiking and seasonal festivals.In 2022, the Urban Hiking Tourism Center opened in Bukhansan to meet the demand for hiking, followed by openings in Bukak Mountain in 2024 and Gwanak Mountain in 2025, turning urban hiking routes into tourism resources.Seasonal events were also held at Gwanghwamun Square. Approximately 7.4 million people visited the Seoul Lantern Festival and Gwanghwamun Market in 2025. The ongoing 2026 Seoul Summer Beach has expanded its operating hours and event areas.Efforts were made to build experience-based tourism infrastructure.The Seoul My Soul Shop, a representative souvenir store, started with three locations in June 2024: Seoul Tourism Plaza, Myeongdong Tourist Information Center, and Sejong Center for the Performing Arts. It has since expanded to six directly operated stores, including Yeouido Ferry Terminal and Seoul Gallery.Opened in June 2024, the Seoul Culture Lounge offers various themed programs related to Korean Wave culture, arts, beauty, and literature. As of July 24, a total of 386 programs have been conducted, attracting 44,040 visitors.Reflecting International Tourism Indicators and Ongoing CEO Selection ProcessCollaboration with the city has continued to reflect relevant international indicators. During Gi's tenure, Seoul was recognized as Asia's top leisure city for two consecutive years by Global Traveler, ranked first in Asia and third globally for international conferences held in 2025 according to the Union of International Associations (UIA), and sixth in the world according to the International Congress and Convention Association (ICCA), with fourth place in the medical field. Additionally, it was named the most loved city by the global MZ generation in the 2025 Travel Awards and recognized as the world's best MICE city for 11 consecutive years by Global Traveler.Gi stated, "I could complete my term thanks to the foundation staff and domestic and international tourists who visited Seoul. The past five years with the foundation have been rewarding and filled with gratitude." He added, "Although I am stepping down, I will continue to support Seoul's growth as a tourism city."Meanwhile, the foundation's executive recommendation committee announced on July 13 that it has begun the process of selecting a new CEO. The new CEO will oversee all foundation operations, including marketing, MICE industry development, and tourism resource development and commercialization. The term is three years from the appointment date, with the possibility of annual renewals thereafter.* This article has been translated by AI. 2026-07-27 14:40:00
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KISA Launches Task Force to Shape Next Decade of APIGA The Korea Internet & Security Agency (KISA) announced on July 27 that it has formed a dedicated task force to discuss the long-term development direction of the Asia-Pacific Internet Governance Academy (APIGA) in collaboration with the Internet Corporation for Assigned Names and Numbers (ICANN). The task force was launched immediately following the closing ceremony of the 2026 APIGA held in Busan.APIGA is a training program for internet governance professionals in the Asia-Pacific region, jointly operated by KISA and ICANN since 2016. ICANN, a nonprofit organization established in 1998, is responsible for the stable operation of global internet resources, including domain names, IP addresses, and root server systems.As of this year, 397 young people from 32 countries have completed the APIGA program, with more than half of them actively working in various fields related to internet governance, including employment and internships at governance-related organizations and participation in internet governance forums. Recently, the hosting of local APIGA events in various countries has expanded opportunities for participation at national and regional levels.As of July 2026, the countries hosting local APIGA events include Nepal, Taiwan, Malaysia, India, Indonesia, Cambodia, Pakistan, South Korea, Australia, and Hong Kong. A positive feedback loop has also been established, with alumni participating as mentors in follow-up programs and as community leaders.KISA and ICANN stated that, in light of APIGA's 10th anniversary, there is a need to comprehensively discuss the sustainability of the educational system, international scalability, stable operational systems, and alumni network management, which led to the formation of this dedicated task force. The task force includes key partner organizations such as the Asia-Pacific Network Information Centre (APNIC), DotAsia, and the Internet Society (ISOC).Participating organizations plan to develop a long-term vision and specific implementation tasks for APIGA based on their respective experiences and expertise. The task force will operate from July to December 2026, with key deliverables including a 'Vision of APIGA' outlining future development directions and implementation tasks, as well as a plan for establishing a dedicated secretariat for the stable and sustainable operation of APIGA.Lee Sang-jung, head of KISA, remarked, "APIGA has served as a representative capacity-building program that has opened pathways for young people in the Asia-Pacific region to enter the field of internet governance over the past decade. Through this task force, we will specify the long-term vision and implementation tasks to lead the next decade, and we will work together with partner organizations to ensure that APIGA grows into a sustainable global talent development platform."* This article has been translated by AI. 2026-07-27 14:36:00
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FANOMENON 2027 plan announced in Seoul SEOUL, July 27 (AJP) - Co-chair Park Jin-young speaks during a press briefing on the 2027 FANOMENON implementation plan at the Multi-purpose Space on Basement Level 1 of the Seoul Education Center, National Museum of Modern and Contemporary Art (MMCA), in Jongno-gu, Seoul, on July 27, 2026. 2026-07-27 14:32:36 -
Hong Kong ELS Sanctions Likely Delayed as Financial Authorities Debate Fines Sanctions against banks related to the improper sale of Hong Kong H Index-linked securities (ELS) are likely to be postponed until next month. The Financial Supervisory Service (FSS) has significantly reduced the proposed fine from 1.4 trillion won to approximately 600 billion won and resubmitted it to the Financial Services Commission (FSC). However, discussions regarding further reductions are ongoing within the FSC.According to financial industry sources on July 27, the FSC has not yet finalized whether it will approve the sanctions against the Hong Kong H Index ELS at its regular meeting scheduled for July 31. This delay is due to unresolved internal discussions regarding the calculation method for the fines and how much to factor in the banks' voluntary compensation efforts.The FSS's sanction proposal reportedly includes fines totaling around 600 billion won for five banks: KB Kookmin, Shinhan, Hana, NH Nonghyup, and SC First Bank. This amount is less than half of the previously suggested 1.4 trillion won. After the FSC returned the initial proposal in May, the FSS adjusted the violation motivations and methods from 'medium' to 'low' to revise the fine calculation criteria.Despite this reduction, there are still concerns within the FSC that the 600 billion won fine may be excessive. Some officials argue that since this is the first large-scale sanction for improper sales following the implementation of the Financial Consumer Protection Act, caution is needed regarding any further reductions.The banking sector contends that since they have already conducted significant voluntary compensation for customers who suffered losses from the Hong Kong H Index ELS, imposing a large fine would effectively amount to double punishment. They also argue that the banks' earnings from ELS sales are limited to commissions, while the fines are calculated based on total sales, leading to complaints about the excessive penalty level.For the FSC, confirming a large fine poses significant challenges. Recently, financial authorities have faced multiple legal defeats in sanction lawsuits against financial companies, prompting calls for a more thorough examination of the legal basis and proportionality of sanctions.On the other hand, there are predictions that significant additional reductions may be difficult, as this sanction could set a precedent for future standards regarding improper sales of complex financial products like funds and ELS. Excessively lowering the fines based on voluntary compensation could send the wrong signal that financial companies can largely evade responsibility for improper sales.Typically, the FSC does not hold regular meetings in August, but given the pressing issues, including the Hong Kong H Index ELS sanctions, there are discussions about convening a special meeting. A financial industry source stated, “While the fine has already been significantly reduced, there are opinions that the scale of the sanctions should also consider the voluntary compensation performance and sales revenue. This decision could set a standard for future sanctions on improper sales, making it difficult for the FSC to reach a conclusion.”Meanwhile, the sanction proposal related to the customer information leak incident involving Lotte Card is expected to be presented at the FSC's regular meeting on July 31.* This article has been translated by AI. 2026-07-27 14:32:00
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Crisis Deepens for Small Business Owners as Minimum Wage Review Requested The Small Business Association announced on the 27th that it has submitted an objection to the Ministry of Employment and Labor regarding the proposed minimum wage for 2027.On July 16, the ministry announced that the minimum wage for the upcoming year would be set at 10,700 won per hour, allowing for objections to be filed within 10 days from that date.In its objection, the association urged a review of the proposed minimum wage, stating that it would push small business owners to their financial limits.According to the association, the new minimum wage would increase the monthly salary for each worker by approximately 79,000 won, resulting in an annual increase of about 950,000 won. For businesses employing four workers, this would lead to an additional labor cost of over 10 million won per year, including employer contributions to social insurance.With 40% of small business owners reporting average monthly profits below 2 million won, the association argues that such an increase in labor costs is unsustainable for many.The association also called for a reconsideration of the uniform application of the minimum wage, which does not take into account the differences in payment capabilities across various industries.Song Chi-young, president of the Small Business Association, held a press conference in front of the Ministry of Employment and Labor in Sejong before submitting the objection. He pointed out, "This increase comes as a double blow amid declining profits and economic downturn, accelerating job cuts among small business owners."He emphasized, "A review of the proposed minimum wage for 2027 is essential to protect the survival rights of small business owners and prevent a crisis in employment."* This article has been translated by AI. 2026-07-27 14:32:00
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South Korean Prime Minister Affirms Commitment to Freedom and Peace on UN Veterans Day South Korean Prime Minister Han Seung-sook stated on July 27 that the country will uphold freedom and peace based on a strong South Korea-U.S. alliance and cooperation with UN member nations, marking the 73rd anniversary of the UN Veterans Day and the signing of the armistice agreement.In her speech at the UN Veterans Day ceremony held at KBS Hall in Yeouido, Han emphasized, "When North Korea invaded 76 years ago, the international community quickly united under the name of the UN. We will never forget this noble sacrifice."She added, "We will honor each UN veteran with the utmost respect, expand exchanges with their descendants, and continue the friendship with UN member countries for future generations."Han noted, "The world is currently facing the spread of regional conflicts, uncertainty in the international order, and security competition over advanced technologies. In such times, the spirit of solidarity demonstrated by the international community during the Korean War shines brightly and holds even greater significance."She also stated, "While keeping the door open for dialogue, we will maintain a readiness that is unshaken by any security threats. At the same time, we will stand in solidarity with the international community as partners in safeguarding global peace and prosperity."Han concluded, "South Korea will work with the international community to illuminate our shared future, leading efforts in international peacekeeping and humanitarian assistance, and taking great strides toward a future of freedom and prosperity together with the global community."* This article has been translated by AI. 2026-07-27 14:32:00
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Park Jin-young unveils 2027 FANOMENON plan SEOUL, July 27 (AJP) - Co-chair Park Jin-young speaks during a press briefing on the 2027 FANOMENON implementation plan at the Multi-purpose Space on Basement Level 1 of the Seoul Education Center, National Museum of Modern and Contemporary Art (MMCA), in Jongno-gu, Seoul, on July 27, 2026. 2026-07-27 14:31:01 -
Choi Hwi-young leads FANOMENON briefing SEOUL, July 27 (AJP) - Co-chair Choi Hwi-young delivers opening remarks during a press briefing on the 2027 FANOMENON implementation plan at the Multi-purpose Space on Basement Level 1 of the Seoul Education Center, National Museum of Modern and Contemporary Art (MMCA), in Jongno-gu, Seoul, on July 27, 2026. AJP Yoo Na-hyun 2026-07-27 14:28:41 -
Choi and Park lead 2027 FANOMENON briefing SEOUL, July 27 (AJP) - Co-chairs Choi Hwi-young and Park Jin-young are seated before a press briefing on the 2027 FANOMENON implementation plan at the Multi-purpose Space on Basement Level 1 of the Seoul Education Center, National Museum of Modern and Contemporary Art (MMCA), in Jongno-gu, Seoul, on July 27, 2026. 2026-07-27 14:25:47