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NVIDIA and KAIST Establish Joint AI Research Lab in South Korea NVIDIA and the Korea Advanced Institute of Science and Technology (KAIST) are set to establish a joint artificial intelligence research lab in Seoul. The lab will focus on developing agentic AI models tailored to the Korean language and domestic industrial environments, creating a collaborative research framework that connects academic findings with applications in the private and public sectors.NVIDIA announced on July 24 that it will partner with KAIST to establish the AI research lab at the Kim Jae-cheol Graduate School of AI. The lab will concentrate on developing systems where agentic AI models and various AI agents collaborate.The collaboration is expected to involve a total investment of $300 million, including a plan to provide $50 million worth of computing resources annually for the first five years. Researchers will utilize the latest AI computing environments through infrastructure operated by NVIDIA's cloud partners in South Korea.The total computing support over five years is projected to reach $250 million, accounting for approximately 83% of the overall collaboration, highlighting the emphasis on securing research infrastructure.NVIDIA's Nemotron open model will be utilized in the research. The team aims to enhance Korean language processing capabilities and develop AI models and agent systems suited for various domestic industries, including manufacturing, semiconductors, and robotics.The research outcomes will not be limited to academic papers and prototypes; a pathway for technology transfer and commercialization will be established to facilitate the adoption of AI at both corporate and national levels. Reducing the gap between academic research and practical service application is a key role of the joint lab.Talent support will also be part of the initiative. The joint lab will provide research funding to at least 10 KAIST researchers annually. Selected researchers will have the opportunity for NVIDIA internships, and outstanding candidates may be offered full-time positions at NVIDIA.The joint lab will be led by Kim Hyun-woo, a new professor at KAIST's Kim Jae-cheol Graduate School of AI. Professor Kim will coordinate collaborative research between KAIST researchers and NVIDIA's global research organization, connecting AI researchers both domestically and internationally.Bill Daley, NVIDIA's chief scientist and senior vice president of research, stated, "The joint lab will serve as a research foundation to accelerate the development of AI models and agent systems for Korea's industry, language, and future."* This article has been translated by AI. 2026-07-24 10:32:00 -
Dynamic Duo and Triple S Highlight Ocean World’s 20th Anniversary Summer Festival Ocean World is celebrating its 20th anniversary with a large summer festival running for three weeks. The event will feature K-pop performances, interactive events, and children's programs to attract visitors during the peak season.Sonno International announced on July 24 that the '2026 Ocean World Birthday Blue Splash Festival' will take place from July 25 to August 15 at Ocean World in Hongcheon, Gangwon Province.This year's festival will commemorate the park's 20th anniversary with a mix of performances, experiential programs, and customer participation events.Ocean World, which spans approximately 12.66 hectares—about 14 times the size of a soccer field—operates various zones including Aqua Zone, Extreme Zone, Dynamic Zone, and Mega Slide Zone. All indoor and outdoor areas are currently open, allowing access to major attractions.The festival's signature event, the 'Blue Wave Concert,' will be held every Saturday and Sunday at 4 p.m. on a special stage at Surfing Mount. Performers will include Dynamic Duo, Triple S, Daybreak, HYNN (Park Hye-won), Nowz, and Giriboy. On weekdays, magic shows, dance performances, and indie vocal performances will take place at the same time.Daily performances and interactive programs are also planned. Except for Wednesdays, starting at 1:30 p.m., Surfing Mount will host a lifeguard diving show, Ocean Girls K-pop performances, and a customer story introduction event. At 2 p.m., the Extreme River Square will feature 'Ocean Karaoke' and a 'Random Play Dance Challenge.' Various experiential events, such as dart games and water balloon shooting, will be available throughout the park.Programs for families are also in place. The indoor kids' pool will offer a robotic fish experience, while the outdoor kids' pool will host a bubble party, allowing children to enjoy water activities together.In celebration of the 20th anniversary, a '20th Anniversary Timing Challenge' event will provide various prizes, and a large 3.5-meter cake balloon photo zone will be set up.To make the festival more accessible, a package deal will be offered, including admission tickets, outdoor locker access, and slushy exchange vouchers, with discounts of up to 38%. The package will be available for purchase until August 15, with the option to reserve usage until August 16.A representative from Sonno International stated, 'We have prepared a rich lineup of performances and events to express our gratitude to the customers who visit Ocean World. We hope everyone creates special memories at Ocean World this summer.'* This article has been translated by AI. 2026-07-24 10:32:00
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EU Fines Google €8.9 Billion for Violating Digital Markets Act The European Union (EU) has imposed a hefty fine on Google for violating the Digital Markets Act (DMA), raising concerns about renewed trade tensions between the U.S. and Europe.On July 23, the EU Commission announced that Google had breached the DMA by prioritizing its own services in search results and restricting access to cheaper app purchase channels for consumers on Google Play. The total fine amounts to €890 million, with €460 million for the search result issue and €430 million for the app distribution violation.The EU Commission stated that as a designated gatekeeper under the DMA, Google is prohibited from favoring its own services over those of third parties. It noted that Google had provided its own services, such as hotel, transportation, and sports results, preferentially in search results, using enhanced visual elements and filters to make them more prominent than similar third-party services.Additionally, app developers distributing their apps through Google Play should be able to inform customers that they can purchase the same apps through other channels at lower prices. However, the EU Commission found that Google had not complied with this DMA regulation.The EU Commission ordered Google to treat third-party services fairly in search results and to allow app developers to communicate freely with users regarding promotions and contracts. Google has 60 days to comply with this decision, or it may face periodic fines of up to 5% of its global revenue.EU Commissioner for Competition, Margrethe Vestager, described the action as a strong measure, sending a significant message to Google.Google recently lost an appeal at the European Court of Justice regarding a €4.125 billion fine for abusing its dominant market position, marking another setback for the company in Europe.Concerns have been raised that this action could reignite trade tensions between the U.S. and Europe. The Financial Times reported that former President Donald Trump has criticized EU digital market fines as 'extortion' or 'essentially a tax,' suggesting that the U.S., home to many major tech companies, might retaliate.* This article has been translated by AI. 2026-07-24 10:28:00
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U.S. Ambassador Michelle Steel Prioritizes Strengthening U.S.-South Korea Alliance Michelle Steel, the U.S. Ambassador to South Korea, delivered her first public speech following her Senate confirmation, emphasizing the importance of strengthening the U.S.-South Korea alliance. On July 23, Steel attended the opening ceremony of the U.S.-South Korea Cooperation Center in Washington, D.C. "The United States and South Korea have been allies bound by shared values and sacrifices for a long time," Steel said. "Through our cooperation, the alliance is expanding into new and important areas." Regarding South Korea's investments in the U.S., she stated, "This will benefit both countries." She added that investments by South Korean companies in U.S. manufacturing and shipbuilding will contribute to building a fair, reciprocal, and stable trade relationship between the two nations. Steel noted, "It is very meaningful that this event marks my first public speech since being confirmed as ambassador," and reiterated that strengthening the U.S.-South Korea alliance will be her "top priority" during her tenure. After the event, when asked by a Yonhap News reporter about her departure for South Korea, Steel replied, "Next week." Confirmed by the U.S. Senate last month, she is expected to begin her official duties in South Korea soon. During her Senate confirmation hearing, Steel had previously expressed that American companies operating in South Korea should receive equal treatment as South Korean firms.* This article has been translated by AI. 2026-07-24 10:28:00
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NH Investment & Securities Reports Record Half-Year Profit of 965.2 Billion Won NH Investment & Securities has achieved its highest-ever half-year performance, driven by balanced growth in its brokerage, financial products, and investment banking (IB) sectors.On July 24, NH Investment & Securities announced that its consolidated net profit attributable to shareholders for the first half of the year reached 965.2 billion won, a 107.6% increase compared to the same period last year. This marks the largest half-year profit in the company's history.During the same period, net operating revenue rose to 2.26 trillion won, up 89.0%, while operating profit reached 1.32 trillion won. The annualized return on equity (ROE) stood at 19.0%.In the second quarter, net profit attributable to shareholders was 489.6 billion won, reflecting a 90.7% increase year-on-year. The company attributed its strong performance to increased trading in domestic and international markets, an expanded customer base, and enhanced competitiveness in digital and global trading infrastructure.Brokerage commission revenue for the first half totaled 795 billion won, a 211.7% increase from the same period last year. In the second quarter, commission revenue was 445.6 billion won, up 27.5% from the previous quarter.Domestic stock commission revenue reached 390.9 billion won, a 26.2% increase from the previous quarter, as the average daily trading volume in domestic stocks expanded to 90.2 trillion won, with market share rising by 0.7 percentage points. Commission revenue from overseas stocks increased by 55.1% to 85.8 billion won, driven by higher average trading volumes and expanded agreements.The financial products sales sector also showed growth, with commission revenue for the first half reaching 125.9 billion won, a 127.2% increase year-on-year. In the second quarter, this figure was 76.8 billion won, up 56.3% from the previous quarter. The expansion of target conversion wrap sales led to a 171.8% increase in asset management fees compared to the previous quarter.Total customer assets grew to 612 trillion won, with the number of customers holding assets over 100 million won reaching 455,000, and those with over 10 billion won exceeding 33,000.The IB sector recorded commission revenue of 205.5 billion won for the first half. In the second quarter, this figure was 108.3 billion won, an 11.3% increase from the previous quarter, driven by an increase in fees related to debt guarantees.In the equity capital markets (ECM), the company led the IPO league table in the first half by managing initial public offerings for companies such as Piece Piece Studio and Cosmo Robotics. In the debt capital markets (DCM), it managed bond issuances for Hanon Systems and SK Networks, maintaining its top position in the specialty finance bond sector.The asset management sector reported earnings of 831.5 billion won for the first half, a 62.5% increase year-on-year. In the second quarter, asset management earnings were 407.3 billion won, attributed to stable performance through conservative risk management despite increased market interest rate volatility.Shin Jae-wook, CEO of NH Investment & Securities, stated, "What is more significant than achieving the highest-ever performance is the qualitative change in our revenue structure. Not only did brokerage revenue increase significantly, but we also maintained market leadership in our traditionally strong IB sector."* This article has been translated by AI. 2026-07-24 10:28:00
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Lotte Hi-Mart Launches Pre-Order for Galaxy Z8 with Up to 1.4 Million Won in Benefits Lotte Hi-Mart is launching a pre-order promotion for Samsung's new foldable phone, the Galaxy Z8 series (Fold 8, Fold 8 Ultra, Flip 8), offering benefits worth up to 1.4 million won. The promotion will run until August 3 at offline stores and the official online shopping mall, Lotte Hi-Mart announced on July 24. This pre-order combines a 'partner card discount' and 'cash compensation for used phones' to significantly reduce the burden of the device's retail price. Customers purchasing both unlocked and carrier models will receive a basic reward of 10,000 L.POINTS. By paying with partner cards such as the Lotte Partner Class Card or Lotte Partner Mobile Card, customers can receive additional cashback based on the purchase amount, totaling discounts worth up to 640,000 won and interest-free installment plans (up to 5-24 months). Utilizing the 'cash compensation for used phones' program can further enhance the benefits. Compensation amounts vary based on the model and condition of the returned device, with up to 780,000 won available for returning a Galaxy Fold 6 (256GB). Additionally, for older Galaxy Z and S series models, Lotte Hi-Mart offers a 'highest price buyback guarantee' that compensates the difference in case the compensation amount is lower than that offered by competitors, with combined card discounts and used phone compensation potentially reaching up to 1.4 million won in actual purchase benefits. As the premium foldable phone market matures and device prices rise due to the integration of artificial intelligence (AI) features, electronics retailers and distribution channels are emphasizing 'used phone compensation' and 'long-term care services' to capture initial demand. This strategy aims to lower the barriers for existing customers to upgrade their devices while bundling after-sales support to enhance customer retention. Lotte Hi-Mart has also significantly strengthened its after-sales service competitiveness. Starting July 28, the company will introduce an upgraded 'Mobile Care Service' that expands coverage from the previous two-year limited damage protection. Customers who enroll in this service when purchasing the Galaxy Z8 series will receive comprehensive protection for up to three years against damage, loss, theft, battery replacement, and financial fraud. The service will also support enrollment in Samsung's 'New Galaxy AI Subscription Club.' Lee Eon-seok, head of Lotte Hi-Mart's smart appliance division, stated, "We have prepared various discount benefits available only at Lotte Hi-Mart for those who have been waiting for the new Galaxy products. We hope customers take advantage of the pre-order to experience the new Galaxy products with great benefits as soon as possible." * This article has been translated by AI. 2026-07-24 10:24:00
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Com2us to Showcase 'Zeus: God of Wrath' on August 7, Revealing Release Date Com2us will hold an online showcase for its new MMORPG, 'Zeus: God of Wrath,' next month, where it will announce the official release date.On July 24, Com2us announced that the showcase for 'Zeus: God of Wrath,' developed by Everton and published by Com2us, will take place on August 7 at 2:30 PM on its official YouTube channel.Attendees will include Com2us CEO Nam Jae-kwan, Game Business Division Head Kim Jeong-hoon, Everton CEO Kim Dae-hwan, and General Director Jeong Seong-hoon. They will discuss the development process, key content, current release preparations, and future service plans, along with revealing the official release date.Major domestic media outlets will also be present to hear explanations about the development vision and content.'Zeus: God of Wrath' is set in a world where the supreme god Zeus's absolute power has fractured. The MMORPG features graphics based on Unreal Engine 5, content for cooperation and conflict between factions, various growth systems, and user-friendly features.Pre-registration is currently underway, and Com2us aims for a domestic release in the third quarter of this year.* This article has been translated by AI. 2026-07-24 10:24:00
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Stricter cash requirements for leveraged ETFs to take effect late this month SEOUL, July 24 (AJP) - South Korea is set to introduce tougher minimum deposit requirements for single-stock leveraged exchange-traded funds (ETFs) late this month, requiring retail investors to hold at least 30 million won (US$20,300) in cash for new or additional purchases. The Financial Services Commission said Friday that it moved up the implementation date from early August to July 31 after consultations with financial authorities and the securities industry. The measure is intended to stabilize demand for high-risk leveraged products. The requirement, part of a regulatory package announced on July 16, applies to domestically and overseas-listed ETFs and exchange-traded notes that track individual stocks. Under the current framework, investors must maintain a minimum deposit of 10 million won and may use stocks, ETFs and bonds to meet the requirement at up to 70 percent of their market value. From July 31, securities posted in place of cash will no longer be recognized. Brokerages will also be barred from lowering the minimum requirement based on a client's trading experience, although they may impose a requirement above 30 million won. Proceeds from securities sales will count toward the requirement only after settlement, typically two business days after the transaction. Loans secured against unsettled sale proceeds will also be excluded from the calculation. The requirement will apply when existing investors make additional purchases, although they will be allowed to sell products they already hold regardless of their cash balance. The FSC said it would recommend that brokerages unable to complete the necessary system upgrades by the deadline restrict new transactions in the products. Separate measures aimed at narrowing gaps between market prices and underlying asset values will take effect on Aug. 19 following revisions to Korea Exchange rules. The changes will strengthen liquidity providers' pricing obligations and accelerate the designation of products as requiring investor caution. Authorities are also considering bringing forward a plan to raise the minimum order size to 20 units from one, originally scheduled for November. A suspension of new product listings and a ban on advertising took effect after the regulatory package was announced on July 16. The FSC said it would continue to monitor market conditions and consider additional measures if demand for the products fails to stabilize. 2026-07-24 10:23:45 -
Philippines Seeks U.S. Support Amid Rising Tensions with China in South China Sea As tensions escalate between China and the Philippines in the South China Sea, Philippine President Ferdinand Marcos has reached out to U.S. President Donald Trump for assistance.On July 23, President Marcos discussed security cooperation with President Trump during a phone call, according to a statement from the Philippine presidential office reported by Sankei on July 24. Marcos is said to have requested that the South China Sea issue be addressed as a key agenda item at the upcoming U.S.-China summit expected to take place in September.In response, President Trump reportedly promised to convey the Philippines' concerns directly to Chinese President Xi Jinping.Recent physical confrontations between Chinese and Philippine vessels in the South China Sea have heightened tensions in the region. This has led the Philippines to seek assistance from the U.S. Notably, on July 20, a collision occurred near the Second Thomas Shoal, resulting in injuries on the Philippine side. Both countries have blamed each other for the incident.While the territorial disputes over areas like Scarborough Shoal are primarily issues between China and the Philippines, U.S. involvement could escalate the situation into a U.S.-China conflict. There are expectations that China, which seeks to maintain stable relations with the U.S., may take steps to manage its conflict with the Philippines.Meanwhile, on July 22, Wang Yi, a member of the Chinese Communist Party's Politburo and Foreign Minister, met with Philippine Foreign Secretary Teresa Lazaro in Manila. This marked the first foreign ministerial meeting between China and the Philippines in two years. During the meeting, both sides exchanged sharp criticisms but also conveyed the need to manage tensions between the two nations.Wang stated, "It is an objective fact that there are territorial and maritime boundary disputes between China and the Philippines," adding, "The current relationship between China and the Philippines is at a crossroads, and the direction it takes depends on the Philippines' correct and rational choices." Lazaro emphasized that China should remove structures from the disputed area of Scarborough Shoal.* This article has been translated by AI. 2026-07-24 10:20:00
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Hana Financial Group Trains 54 Young Financial Talents with Financial Supervisory Service Hana Financial Group announced on July 24 that it has trained 54 young financial talents through its 'Hana Young Financial Talent Development Project' in collaboration with the Financial Supervisory Service.The final performance sharing session for the project was held the previous day at Hana Bank's headquarters in Jung-gu, Seoul. Since its inception in 2022, the program has produced a total of 171 graduates.This year, 54 participants from 13 university teams were selected through an idea competition held in April. Over four months, participants received training in finance, ESG education, consumer protection, and mentoring from industry experts.Software training was divided into basic and advanced levels, covering financial data analysis, AI chatbots, generative AI, large language models (LLM), and machine learning. The program also facilitated one-on-one connections between Hana Financial employees and participant teams to develop practical solutions applicable in the field.During the performance sharing session, the 'UniHana' team, which proposed a platform for corporate ESG regulatory compliance and risk assessment, won the grand prize and received a cash award of 10 million won. A total of 30 million won was awarded to seven teams, including two teams that received excellence awards and four teams that received merit awards.The top three teams will have the opportunity to visit fintech companies in London and global financial institutions. All graduates will receive preferential treatment when applying for positions at Hana Financial Group in the future.A representative from Hana Financial stated, “We hope that the talents developed through this project will grow into key drivers of financial innovation and that we will take the lead in nurturing talent so that young people can pursue their dreams without environmental constraints.”* This article has been translated by AI. 2026-07-24 10:20:00