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  • U.S. Clarity Act to Face First Senate Vote on September 15; South Koreas Digital Asset Law Delayed
    U.S. Clarity Act to Face First Senate Vote on September 15; South Korea's Digital Asset Law Delayed The Clarity Act, which defines the distinction between securities and commodities in virtual assets and outlines the supervisory authority of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), will be put to its first procedural vote in the U.S. Senate on September 15 (local time). In South Korea, the preparation of a unified Digital Asset Basic Law, which includes the issuance of won-backed stablecoins and regulations on virtual asset exchange ownership, has been delayed, with a legislative turning point expected in November.According to the virtual asset industry on September 15, the U.S. Senate will hold a vote on the motion to proceed with H.R.3633 (Clarity Act) on the morning of September 16, Korean time. This vote will determine whether the bill will be discussed in the Senate, requiring at least 60 votes from the 100 senators. Even if all 53 Republican senators support it, at least 7 votes from Democrats or independents are needed.Passing this procedural vote does not guarantee final approval of the bill. The Senate must review and vote on amendments before concluding debate and holding a final vote on the bill itself. If the Senate version differs from the House's previous approval, a reconciliation process between the two chambers will be necessary. However, if the procedural vote fails, the likelihood of passing legislation by the end of the year is significantly reduced, especially considering the upcoming midterm elections and subsequent congressional schedule.While the U.S. is clarifying the legal nature and regulatory framework for virtual assets, the preparation of a unified Digital Asset Basic Law, referred to as the 'second phase of virtual asset legislation' in South Korea, has been delayed. Earlier this year, the Democratic Party formed a task force (TF) and initiated discussions with the government, but a final proposal has yet to be released.Key issues in domestic legislation include the entity authorized to issue won-backed stablecoins and ownership limits for major shareholders of virtual asset exchanges. Lawmakers have proposed that banks should hold more than 50% of the shares in companies issuing won-backed stablecoins, with a limit of one share exceeding that threshold. For exchange major shareholders, a general limit of 20% has been discussed, with a potential increase to 34% if certain criteria, such as innovation, are met.The bank-centered issuance plan is seen as a way to ensure the credibility of won-backed stablecoins and financial stability, but critics argue it may restrict participation from fintech and information technology companies. Similarly, while limiting major shareholder ownership in exchanges could prevent concentration of power, it has raised concerns about potential violations of property rights and decreased management stability.The Democratic Party plans to hold a public hearing by the end of this month and begin a thorough review in the legislative subcommittee in November. They aim to process the bill by late November or early January at the latest, but the timeline remains uncertain due to ongoing national audits and budget reviews for the next year.As the existing Digital Asset TF is expected to be reorganized under the Democratic Party's 'AI Transition Financial, Stock Market, and Economic System Improvement Promotion Team,' how to consolidate individual bills proposed or prepared by lawmakers into a single proposal remains a challenge.An industry insider stated, "Considering the national audit and next year's budget schedule, passing the bill by the end of the year seems difficult. Even if U.S. legislation progresses, it will be challenging to immediately reflect it in our system without resolving key domestic issues and regulatory frameworks." 2026-09-15 14:52:00
  • Criticism of Real Estate Tax Reform from Ruling Party; Lee Hyung-il Apologizes
    Criticism of Real Estate Tax Reform from Ruling Party; Lee Hyung-il Apologizes Lee Hyung-il, the Economic Deputy Prime Minister and nominee for Minister of Finance, apologized for shortcomings in the review of the real estate tax reform, which differentiates tax burdens based on residency status, amid criticism from the ruling party. He also acknowledged concerns regarding his own residency status.During a confirmation hearing on September 15 before the National Assembly's Finance and Economy Committee, Democratic Party lawmaker Jeong Tae-ho pointed out that the goals of the real estate tax reform were unclear. He noted that discussions aimed at normalizing housing prices and ensuring fair taxation had shifted focus to the distinction between residents and non-residents, causing confusion in policy direction.Lee explained that the objectives were to establish a housing culture centered on residency, ensure fair taxation, and protect homeowners who live in their primary residence. However, he expressed regret, stating, "I feel sorry that we did not think through some aspects sufficiently."The government initially planned to reduce the basic exemption for non-resident homeowners from 1.2 billion won to 900 million won but later decided to maintain the current level. It also withdrew a proposal to raise the tax burden cap from 150% to 200%.Consistency between Lee's history of home ownership and his policy stance became a point of contention. Lawmaker Park Soo-young from the People Power Party questioned whether Lee's ownership of an apartment in Gwacheon for 17 years, with only four months of actual residence, aligned with his commitment to a residency-focused policy.In response to a similar inquiry from Democratic Party lawmaker Moon Jin-seok, Lee said, "I feel sorry for causing concern among the public regarding the non-residency issue." He clarified, however, that he had owned the property as a lifelong homeowner and had wanted to live there but faced difficult circumstances.Lee explained that when he purchased the home, the price was approximately 420 million won, and the deposit was around 110 million won. When Moon suggested this could be seen as gap investment, Lee countered, saying, "I bought it without any loans at that time."In discussions about U.S. investment negotiations, the investment limit and safety measures were scrutinized. Lawmaker Yoon Young-seok from the People Power Party referenced reports that the investment amount for the first project, a power plant, was $22.3 billion and asked whether it would exceed the annual limit.Lee responded, "We are negotiating to keep the annual U.S. investment at $20 billion and the total at $200 billion." He did not disclose specific details about individual projects, citing ongoing negotiations.Regarding measures to secure at least 45 business days for investment payments and risk pooling for recovering principal and interest across multiple projects, he stated, "We are also negotiating those aspects." He added that specific negotiation details would be reported to the relevant standing committee in accordance with future laws.As for economic policy direction, Lee emphasized the importance of stabilizing livelihoods, securing new growth engines, and enhancing external capabilities. He noted that thanks to a semiconductor boom, a 3% growth rate and a per capita income of $40,000 are becoming visible this year.However, he cautioned against complacency in the current opportunities, stating that preparations must be made for future threats. He pledged to work on stabilizing prices of agricultural products and petroleum, improving distribution structures, and fostering advanced industries. He also mentioned plans to pursue inclusion in the MSCI developed markets index, internationalization of the won, and securing supply chains. 2026-09-15 14:52:00
  • Gwangju City Council Approves Organizational Restructuring Plan with Conditions
    Gwangju City Council Approves Organizational Restructuring Plan with Conditions The first organizational restructuring plan for Gwangju City has been conditionally approved by the city council. The final vote is scheduled for the last session of the regular meeting on the 18th. On the 15th, the Planning and Finance Committee of the Gwangju City Council passed a revised restructuring plan, contingent upon the administration's promise to add a first-level director position at the Eastern and Muan offices and to secure 'one councilor, one policy advisor.' Some council members publicly expressed their opposition regarding the distribution of functions among offices, the placement of deputy mayors, and the decentralization of key functions. The restructuring plan aims to expand the current system from four divisions, seven headquarters, and 24 departments to four divisions, eight headquarters, and 27 departments, while establishing a semiconductor division directly under the mayor. Additionally, it will reorganize the functions of the Gwangju, Muan, and Eastern offices based on a four-deputy mayor system. During the first review on the 9th, the committee postponed the examination due to ongoing disputes over the distribution of functions among offices and the placement of nationally appointed deputy mayors, requesting the administration to provide additional information. The administration's revised proposal includes transferring river-related tasks, such as ecological river creation and management of shared waters, from the Citizen Safety Office to the Balanced Development Office, and increasing the number of general staff positions from 206 to 208, while reducing positions at level five and below by two, maintaining a total staff count of 11,178. The implementation date has also been postponed from October 1 to October 7. After concluding inquiries on the same day, the committee went into recess and presented three additional requests to the administration. First, to enhance the status of the Eastern office and strengthen accountable administration, they requested the Ministry of the Interior and Safety to establish a first-level director position under the Deputy Mayor of Industrial Economy. They also requested a first-level director position overseeing agriculture, fisheries, and livestock at the Muan office, along with three departments: the Agriculture, Fisheries and Food Department, the Livestock Department, and the Marine and Fisheries Department. Furthermore, the administration was urged to prioritize securing 'one councilor, one policy advisor' as requested by the council. Deputy Mayor Hwang Gi-yeon stated that he would accept these requests on behalf of the mayor. Deputy Mayor Hwang said, "We are requesting an additional first-level position from the Ministry of the Interior and Safety, and if secured, we will establish a director position under the Deputy Mayor of Industrial Economy at the Eastern office and create a director position for agriculture and livestock at the Muan office, expanding to three departments below it. We will also actively work to implement the 'one councilor, one policy advisor' system as budget and personnel conditions allow to reflect the mayor's philosophy." Im Hyeong-seok, chair of the Planning and Finance Committee, expressed trust in the deputy mayor's response and stated, "Since the deputy mayor has committed to fulfilling the three requests made by the committee on behalf of the integrated mayor, I will approve it conditionally." The organizational restructuring plan is set for final approval at the last session of the regular meeting on the 18th. 2026-09-15 14:48:10
  • Big Techs Hidden Agenda: Calls for AI Guardrails Amid Extinction Fears
    Big Tech's Hidden Agenda: Calls for AI Guardrails Amid Extinction Fears CEOs and lead researchers from leading global artificial intelligence (AI) companies, including OpenAI and Anthropic, are warning that AI could lead to human extinction. They suggest that the rapid development of AI technology, which has surpassed the singularity, could pose a serious threat to humanity.AI operates without rest, completing tasks that humans find tedious or challenging in an instant. It can solve complex mathematical problems that humans struggle with due to fatigue and distraction. As technology advances, understanding AI becomes increasingly difficult, leading to a growing fear of the unknown. This fear of AI is already a reality.In contrast, President Donald Trump has stated, "Do not kill the goose that lays the golden eggs," and claimed that the warnings about human extinction are a scam. In summary, Trump argues that he is correct and that the concerns raised by Big Tech CEOs are exaggerated.The very individuals who have contributed to the current AI crisis are the CEOs of Big Tech companies. They have engaged in an endless competition toward achieving artificial general intelligence (AGI). According to Menlo Ventures, a Silicon Valley venture capital firm, OpenAI, Anthropic, and Google together hold approximately 90% of the global large language model (LLM) market share.The models developed by these three companies outperform open-source models by more than nine months to a year. No other models come close to achieving AGI.Despite their warnings about the potential for human extinction, these companies show no signs of slowing down their development of next-generation models. They continue to expand their infrastructure, including data centers, backed by substantial investments. If they genuinely feared human extinction, those who claim to be nearing AGI should voluntarily slow their development. This is not a conversation for companies that have been lagging behind for nearly a year.Dario Amodei, CEO of Anthropic, has proposed that to regulate the speed of AI technology, companies should refrain from competition for one to two years and establish an independent evaluation body. He also suggested creating guardrails to facilitate international agreements. While these are commendable ideas, they are not equitable. Even with a third-party organization, the standards would still be set by Big Tech.As regulatory barriers increase, latecomer startups and companies from competing nations lacking legal and technical resources will find it impossible to enter the market. The primary beneficiaries of speed regulation and enhanced regulations will inevitably be the Big Tech companies that issued the warnings, further entrenching their market monopolies.This does not mean that the crisis is nonexistent. It is indeed a challenge of our time for countries around the world to establish safety standards and legal frameworks. All technologies invented by humanity thus far have prioritized safety and ethics, allowing us to avoid extinction and develop the next generation of technology.Therefore, it is crucial that the rules governing these guardrails are not dictated by the few Big Tech companies currently dominating the AI market. Allowing these companies to create the rules would merely enable them to maintain their privileges. AI technology risks becoming a permanent power of specific corporations rather than a shared asset of humanity.The ongoing race toward AGI cannot be halted. What is needed is not the hypocritical warnings from Big Tech companies seeking to monopolize the market, but rather fair and transparent neutral guardrails that are not influenced by any specific corporation. 2026-09-15 14:48:00
  • Credit Card Companies Lower Loan Rates and Increase Limits Amid Loan Growth
    Credit Card Companies Lower Loan Rates and Increase Limits Amid Loan Growth Credit card companies are lowering interest rates and increasing limits on card loans (long-term credit card loans) for some customers, despite rising funding costs due to increased bond rates. This shift comes as financial authorities have expanded household loan targets, allowing companies to resume operations, particularly for customers with relatively good credit ratings.According to the financial sector on September 15, KB Kookmin Card has reduced card loan rates for some customers from an annual 15.90% to 11.70% this month. The available limit has also increased from 10 million won to 12.5 million won. NH Nonghyup Card has similarly lowered its card loan rate for some customers from 13% to 10.4%.In July, the average interest rate for new card loans from eight major credit card companies rose to 14.15%, an increase of 0.28 percentage points from the previous month. The rates offered by KB Kookmin Card and NH Nonghyup Card for select customers are lower than this average. However, these preferential rates are based on individual creditworthiness and card usage, differing from the overall average rate.Notably, while funding costs for card companies are increasing, card loan rates are decreasing. Unlike banks, credit card companies do not have deposit functions, making them highly reliant on market-based funding, including card bonds. Recently, the yield on three-year bonds rated AA+ has risen to the mid-4.5% range, increasing the funding burden on card companies.Despite this, the reduction in preferential card loan rates and increased limits can be attributed to the additional capacity created by the expanded household loan targets. Financial authorities raised the household loan growth management target from 1.5% to 3.0% in the August 13 real estate measures. This adjustment has allowed card and capital companies, which had been limiting loan growth, to take on additional lending capacity.Card loans are a key revenue source for credit card companies. They can be issued without collateral, allowing for relatively quick adjustments to loan amounts based on customer-specific rates and limits. Previously, due to total volume regulations, card companies had reduced limits and new issuances, leading to a decline in card loan balances for two consecutive months in June and July.In contrast, as card loan supply has been restricted, some loan demand has shifted to higher-interest cash advances and revolving credit. As of the end of July, the balance of cash advances reached 7.251 trillion won, marking three consecutive months of increase. The balance of revolving credit also rose to 6.8759 trillion won, increasing for four consecutive months.Normalizing card loan supply could alleviate the reliance of borrowers on cash advances, which typically have shorter terms and higher rates. By lowering rates for prime borrowers, credit card companies can manage both profitability and soundness.However, there are concerns that competition among card companies could extend to lower-credit borrowers, potentially stimulating demand for loans among vulnerable borrowers again. A rapid increase in card loan balances could lead to higher delinquency rates and bad debt costs, increasing the soundness burden on card companies.A financial sector official stated, “We are strengthening marketing efforts in segments where limits have not been filled based on borrower credit ratings within the total household loan volume. We are lowering rates in certain segments, including high-credit borrowers, to manage delinquency rates.” 2026-09-15 14:44:10
  • Kim Min-seok Warns Against Undermining the Yoon Administration
    Kim Min-seok Warns Against Undermining the Yoon Administration Kim Min-seok, the leader of the Democratic Party, criticized remarks made by Cho Kuk, head of the Innovation Policy Research Institute, calling them "unnecessary worries" and warned against attempts to destabilize the Lee Jae-myung administration.On September 15, during a broadcast on the party's official YouTube channel, Kim addressed Cho directly, stating, "When you say not to think about the elephant, and then ask why it comes to mind, you are missing the point. If you point to the sky, you should look at the sky, not at the finger." He added that there is currently no possibility of the government being shaken, labeling the concerns as "unnecessary worries and meaningless attempts to create instability."In a previous appearance on the same program, Kim noted the ongoing internal criticism of President Yoon, saying, "This is a time when we need to unite. It feels reminiscent of the forces that attempted impeachment during the tenure of former President Roh Moo-hyun, which ultimately failed." In response, Cho took to Facebook the same day to describe Kim's comments as "not helpful to President Lee Jae-myung."Explaining his reference to the "impeachment prelude" regarding former President Roh, Kim emphasized, "The conclusion is that the forces that attempted impeachment failed. If they think they can create instability like before, they will fail again." He concluded by stating, "What I want to convey is that it is essential to focus, innovate, and reflect at this time. Those who undermine the governance of the Lee Jae-myung administration should reflect and reconsider their actions."* This article has been translated by AI. 2026-09-15 14:44:00
  • Korea Zincs Management Dispute Highlights Strategic Importance of Key Minerals
    Korea Zinc's Management Dispute Highlights Strategic Importance of Key Minerals The management dispute between Chairman Choi Yoon-bum and MBK Partners and Youngpoong has entered its second year, with over 30 related lawsuits filed. Despite the turmoil, Korea Zinc is evolving from a simple non-ferrous metal smelting company to a key player in the global critical minerals supply chain. Amid fierce external pressures, Korea Zinc, under Choi's leadership, achieved record sales of 16.58 trillion won and an operating profit of 1.23 trillion won last year. In the first half of this year, the company reported sales of 12.44 trillion won and an operating profit of 1.33 trillion won, marking the highest figures for a half-year period. This transformation is a result of its strategy to become a central hub in the critical minerals supply chain, expanding investments in strategic minerals such as antimony, indium, bismuth, and tellurium, as well as in battery materials, resource recycling, and rare metals. Project Crucible, being developed in Tennessee, symbolizes the 'New Korea Zinc.' This $7.4 billion initiative will establish large-scale smelting and processing facilities to produce critical minerals designated by the U.S., including zinc, lead, copper, antimony, indium, bismuth, gallium, and germanium. Of the 12 planned products, 11 are included in the U.S. critical minerals list. As China tightens export controls on critical minerals like antimony, gallium, and germanium, these resources have become national security assets rather than mere raw materials. The U.S., which heavily relies on foreign sources for critical minerals, aims to strengthen supply chain cooperation with South Korea through Project Crucible. The establishment of a joint venture with the U.S. government, which has secured a 10.6% stake in Korea Zinc, underscores the strategic nature of this project. Notably, the project has been designated for the U.S. federal government's expedited permitting process, known as FAST-41. U.S. Secretary of Commerce Gina Raimondo has cited Korea Zinc's project as a prime example of investment in the critical minerals supply chain, and former President Donald Trump has praised it as a "great success." However, the management struggle continues, with MBK and Youngpoong criticizing the project's funding and the U.S. government's equity participation, leading them to file for an injunction against the issuance of new shares. The Seoul Central District Court dismissed the injunction, stating that the issuance of new shares was necessary to achieve the management goals related to the project. Korea Zinc is no longer a company that can be evaluated solely based on the private interests of specific major shareholders or executives. It is a strategic asset that must expand its global critical minerals business sustainably and enhance the competitiveness of the domestic supply chain. The stability of management should be viewed not as a shield for Chairman Choi but as a condition for the continuity of long-term investment. As the world increasingly recognizes Korea Zinc as a partner in the critical minerals supply chain, the management issues surrounding the company should also be assessed within the broader context of industrial security. 2026-09-15 14:40:10
  • HD Hyundai Heavy Industries Shares Drop Over 5% Amid Union Strikes
    HD Hyundai Heavy Industries Shares Drop Over 5% Amid Union Strikes Shares of HD Hyundai Heavy Industries are declining in the latter part of the trading session as union strikes continue. As of 2:30 PM on September 15, the company’s stock was trading at 453,250 won, down 25,750 won (5.22%) from the previous trading day, according to the Korea Exchange. The drop in HD Hyundai Heavy Industries' stock price is attributed to concerns over production disruptions following the union's partial strike, which began on September 11, involving four hours of work stoppage each day. Since June, the company and the union have held 21 rounds of negotiations but have failed to reach an agreement on wage increases and other related issues. On September 10, during the 20th round of talks, the company proposed a monthly base salary increase of 110,000 won (including a seniority increase of 47,000 won) and a bonus of 10 million won plus 200%. However, the union rejected this offer. The union plans to continue the four-hour strikes until today and has announced a seven-hour strike from September 16 to 18. Some analysts suggest that if the two sides cannot narrow their differences during focused negotiations, the strike could extend well beyond the Chuseok holiday. To reach a settlement before Chuseok, a tentative agreement must be reached this week, followed by a vote among union members early next week. Meanwhile, other shipbuilding stocks are also experiencing declines, with HD Korea Shipbuilding & Offshore Engineering down 6.8%, Samsung Heavy Industries down 5.8%, and Hanwha Ocean down 3.73%.* This article has been translated by AI. 2026-09-15 14:40:00
  • Kim Seung-won Challenges Allegations During Confirmation Hearing
    Kim Seung-won Challenges Allegations During Confirmation Hearing Kim Seung-won, the nominee for Minister of Justice, strongly denied various allegations against him during his confirmation hearing while also raising concerns about the leak of internal prosecution materials and criticizing the prosecution's investigations under the Yoon Suk-yeol administration.On September 15, during the confirmation hearing held by the National Assembly's Legislation and Judiciary Committee, Kim responded to a question from Democratic Party lawmaker Kim Dong-ah regarding the circumstances of the leak of internal prosecution materials, stating, "It is essential to clarify how confidential internal documents of the prosecution ended up with former Minister Han Dong-hoon (currently an independent lawmaker)."Earlier, Kim raised concerns about the leak of internal prosecution reports that even the parties involved or their lawyers could not access, referencing documents previously disclosed by Han. He suggested that there might be a need for a comprehensive investigation into the potential leak of other significant political case materials.In response, Kim stated, "In my 30 years of legal experience, including time as a judge, I have never seen such types of documents," emphasizing the need for a thorough investigation into the leak.He added, "Even I, as someone who was subject to investigation and received a deferred prosecution decision, was not provided with the investigation records when I requested them from the prosecution. I cannot understand how such sensitive investigation records were leaked, and if I become Minister of Justice, I will ensure a thorough review of the information management status within the prosecution's server and any potential human rights violations against the public."Kim also criticized the prosecution's investigations during the Yoon Suk-yeol administration, labeling them as "selective and politically motivated." He expressed his frustration, stating, "Over two years, 11 prosecutors were mobilized, and they obtained call logs and account information more than 20 times. It would be accurate to say they thoroughly investigated me."He further condemned the prosecution for ignoring evidence of lobbying involving ruling party lawmakers found in the call logs of a broker who had contacted him, while targeting him and opposition figures instead.Regarding the deferred prosecution decision related to the charge of promising bribes, he claimed it was a result of "splitting charges," arguing that the prosecution was keeping him in a state of deferred prosecution by dividing related individuals into separate cases.Kim stated, "The splitting of charges, as seen in the Daejang-dong case or the North Korean remittance case, is a tactic used by the political prosecution under Han Dong-hoon that effectively destroys the accused. If I am appointed as Minister of Justice, I will ensure that investigative powers are exercised fairly and that political neutrality is maintained."He became emotional while addressing allegations of favoritism related to a social cooperative for the care of individuals with developmental disabilities, where his spouse and children work. Kim asserted, "This was never for profit or personal gain, and there was absolutely no favoritism."He explained, "My wife, who graduated from Ewha Womans University with a degree in special education, has devoted her life to caring for children with disabilities. I entrusted the work to my son, who is currently in a master's program, so that when the parents of these children pass away or if my wife becomes unable to care for them, they would have someone trustworthy to rely on."In contrast, the opposition People Power Party focused on attacking Kim's moral integrity and refusal to submit documents. Lawmaker Kwak Gyu-taek criticized Kim for refusing to submit a court ruling related to a 2008 drunk driving fine (70,000 won), citing personal information concerns, questioning how someone who won't provide their own documents could serve as Minister of Justice. In response, Kim stated, "I will review whether there are any outstanding documents that have not been submitted."The confirmation hearing faced disruptions even before the questioning began, with heated exchanges between lawmakers from both parties. Democratic Party lawmaker Kim Nam-hee demanded an apology from People Power Party lawmaker Joo Jin-woo for derogatory remarks such as "bloodsucker of taxpayer money" and "family salary party." Joo refused, stating, "I was pointing out the structural injustice where 40% of the benefits went to the nominee's family."During this exchange, harsh language such as "devil" and "the one who steals money is the devil" was exchanged, leading to chaos in the hearing, with Legislation and Judiciary Committee Chair Seo Young-kyo struggling to restore order.* This article has been translated by AI. 2026-09-15 14:36:00
  • Montan Residents Celebrate Community Unity at 15th Annual Event
    Montan Residents Celebrate Community Unity at 15th Annual Event More than 1,000 residents, students, and staff gathered in Montan, Muan County, to strengthen community unity across generations and villages.The 15th Montan Residents' Day was held on September 11 at Montan Elementary School, with participation from residents, elementary and middle school students, staff, and representatives from local organizations.Organized by Montan and the Montan Prosperity Association, the event emphasized the significance of community, bringing together residents and local schools.The ceremony began with the entrance of the Montan flag and the flags of local organizations and the leaders of 45 village councils.During the ceremony, awards were presented for longevity, contributions to local development, and recognition of families with multiple children, expressing gratitude to residents who have contributed to community activities.A special moment was dedicated to celebrating three babies born in Montan this year. The families received congratulatory gifts, marking the births as a collective celebration for the community amid ongoing population decline and aging in rural areas.The event also highlighted collaboration with local schools. Thirty-three students and 25 teachers from Montan Elementary and Middle Schools were each given gift certificates worth 50,000 won, encouraging students and staff while showing community support for local education.Following the ceremony, a lively sports day was held, allowing residents and students to participate together. A singing contest also took place, providing an opportunity for residents, students, and representatives from local organizations to mingle.This year's event drew attention for expanding participation to local schools, showcasing the collaboration between the Montan Prosperity Association and local administration.Choi Jeong-sook, the mayor of Montan, emphasized the importance of community events that involve residents, schools, and organizations, stating, "I will continue to play a role in fostering unity among residents and local development through administration."She added, "Residents' Day is more than just a commemorative event; it is a time for residents from 45 villages, children, schools, and organizations to come together, share greetings, and think about Montan's future. I will ensure that I listen closely to the voices of residents and continue to promote community unity through on-the-ground administration."Kim Seong-bi, president of the Montan Prosperity Association, expressed gratitude to all who participated in the 15th Montan Residents' Day, saying, "I hope this event will lead to greater unity among residents and drive the development of Montan together."Montan Residents' Day continues to be a community event that brings together residents from various villages, local organizations, and school members. The Montan community plans to use this event to enhance exchanges between schools and the community, fostering a multigenerational community based on resident participation.* This article has been translated by AI. 2026-09-15 14:32:20