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  • Seoul Mayor Oh Se-hoon Appeals Guilty Verdict in Polling Scandal
    Seoul Mayor Oh Se-hoon Appeals Guilty Verdict in Polling Scandal Seoul Mayor Oh Se-hoon has strongly opposed the guilty verdict in the first trial regarding the polling scandal and announced plans to appeal. His team argues that the court found him guilty based solely on circumstantial evidence and witness statements without direct proof.On July 22, a statement from Lee Jong-hyun, a special advisor for public communication in Seoul, described the ruling as "a verdict based on possibilities without evidence," making it unacceptable.The main point of contention for Oh's team is the court's evaluation of the evidence. They assert that no objective evidence was presented to prove that Oh directly instructed or was involved in the commissioning or payment of the polls, yet he was still convicted.The advisor pointed out that the ruling is difficult to accept when viewed against the fundamental principle of criminal trials, which requires proof beyond a reasonable doubt. They expressed particular concern that the testimony of Myung Tae-kyun and surrounding circumstances were essentially the primary basis for the verdict.Oh's team believes that some facts revealed during the trial actually support his innocence. For instance, evidence suggests that the survey was drafted before the time Myung's side claims they received the polling request, and there are records indicating that materials were exchanged without the campaign's knowledge. Given these circumstances, they argue that all ten charges should be dismissed.Oh's camp is focusing on defining the essence of the case as a "circumstantial trial without direct evidence." They plan to make the credibility of Myung's testimony and the interpretation of circumstantial evidence key issues in the appeal.Politically, this statement carries significance beyond a mere legal response. Although the guilty verdict from the first trial has dealt a considerable blow, the fact that the ruling is not yet final allows for the possibility of overturning it in the appeals court, which they aim to convey to both their supporters and the Seoul city organization.Oh's team intends to contest the facts and legal principles in the appeals court. They will particularly emphasize the lack of direct evidence and the credibility of Myung's testimony, aiming to correct what they see as errors in the first trial's judgment.As a result, the case is expected to lead to intense legal battles over the admissibility of evidence and the credibility of testimonies in the appeals court. Whether the court will maintain the same conclusion as in the first trial or accept Oh's claims and reach a different judgment is likely to become a major point of interest in the political arena.Meanwhile, during a meeting with senior officials, Mayor Oh focused on addressing concerns about potential gaps in governance following the first trial's verdict.He expressed regret for causing worry among staff due to his personal trial, emphasizing the need to prevent any disruption within the organization.Oh stated, "The first trial's verdict contains significant errors in both factual and legal judgments," and expressed confidence that it would be corrected in the higher court. He reiterated his belief that the outcome could be reversed through the appeals process.He particularly stressed the importance of continuity in city governance, urging staff to perform their duties to the best of their abilities, regardless of the circumstances.This message is interpreted as an effort to preemptively address concerns about potential governance gaps following the guilty verdict and to stabilize the organization. It clearly indicates his intention to continue fulfilling his role as mayor while preventing any unrest within the Seoul city administration.Oh concluded, "I will also lead the city with a responsible attitude to keep my promises to the citizens without wavering."Political analysts suggest that this message reflects an intention to separate legal responses from governance operations. By appealing the first trial's verdict while simultaneously emphasizing his commitment to his responsibilities as mayor, Oh aims to ensure stability in governance and rally support among his base.* This article has been translated by AI. 2026-07-22 17:32:00
  • Seoul Mayor Oh Se-hoon Faces Possible Disqualification Over Campaign Finance Violation
    Seoul Mayor Oh Se-hoon Faces Possible Disqualification Over Campaign Finance Violation Seoul Mayor Oh Se-hoon has been sentenced to a fine of 10 million won for violating campaign finance laws by having a supporter cover the costs of a public opinion poll. If the Supreme Court confirms the sentence, he will be required to resign from his position. The application of the special prosecutor's '6-3-3 principle' raises the possibility of a by-election in April next year.The Seoul Central District Court's Criminal Division 22, presided over by Judge Jo Hyung-woo, imposed a fine of 10 million won and restitution of 21 million won on Mayor Oh on July 22 for his campaign finance law violations.Under current law, if an elected official is confirmed to have received a fine of over 1 million won for violating campaign finance laws, their election is rendered invalid. Should Mayor Oh's case lead to a fine of over 1 million won that is upheld by the Supreme Court, he would lose his position as mayor.The possibility of a by-election has been raised following the imposition of the fine. Notably, this case was prosecuted by a special prosecutor, and the '6-3-3 principle' applies, which, while not absolute, suggests that a first trial should conclude within six months, with subsequent appeals taking three months each.If a fine exceeding 1 million won is confirmed by the Supreme Court, a by-election for the Seoul mayoral position will be held, likely in April or October of next year.* This article has been translated by AI. 2026-07-22 17:32:00
  • HY Central Research Institute Named Top Corporate Research Institute by Ministry of Science and ICT
    HY Central Research Institute Named Top Corporate Research Institute by Ministry of Science and ICT HY Central Research Institute announced on July 22 that it has been designated as the top corporate research institute in the '2026 First Half Excellent Corporate Research Institute' evaluation conducted by the Ministry of Science and ICT.The Excellent Corporate Research Institute program is an initiative by the Ministry of Science and ICT to support corporate research institutes with outstanding technological innovation capabilities and research and development (R&D) achievements. A total of 27 research institutes were selected this first half of the year, with a designation period of three years.HY Central Research Institute was recognized for establishing a research and development system that spans from the discovery of functional materials to human application tests and commercialization. A significant portion of its research personnel is focused on next-generation probiotics and microbiomes, expanding its foundational research capabilities.The institute has consistently accumulated research achievements. HY has secured six types of individually approved functional materials through research on probiotics and natural products. To date, it has registered 126 patents and published 122 papers in SCI-level journals. The U.S. Food and Drug Administration (FDA) has listed five new dietary ingredients (NDIs), including two strains for body fat reduction, as well as those for skin health and anti-inflammatory properties.Recently, based on its research achievements, HY has been expanding its raw material business. Last year, raw material sales reached 15 billion won, a 27% increase from the previous year. This figure is more than four times the 3.5 billion won recorded in 2020, the business's initial year. Cumulative sales as of 2025 have surpassed 56 billion won. HY anticipates further growth in raw material transactions with the completion of its freeze-drying production facility for probiotics at its Nonsan plant.Lee Jae-hwan, head of HY Central Research Institute, stated, "This designation as the top corporate research institute is a recognition of our long-accumulated R&D capabilities and technological competitiveness. We aim to contribute to public health through the development of globally competitive functional materials."HY Central Research Institute, the first corporate research institute in the domestic food industry, was established in 1976 with the goal of domesticating lactic acid bacteria and is celebrating its 50th anniversary this year. In 1995, it successfully domesticated lactic acid bacteria for the first time in the country and currently operates a library of over 5,100 strains collected and isolated from kimchi and fermented sauces.* This article has been translated by AI. 2026-07-22 17:32:00
  • Biotech Giants NexEye and Adel Seek KOSDAQ IPO Amid Cooling Investor Sentiment
    Biotech Giants NexEye and Adel Seek KOSDAQ IPO Amid Cooling Investor Sentiment As the KOSDAQ struggles with a recent focus on semiconductor stocks, major biotech companies are making moves to go public, raising questions about whether investor sentiment in the sector can be revived.On July 22, investment banking sources reported that NexEye, a developer of immuno-oncology therapies, and Adel, which focuses on treatments for neurodegenerative diseases, submitted preliminary applications for KOSDAQ listings to the Korea Exchange the previous day. The pre-IPO valuations for the two companies are approximately 400 billion won for NexEye and 349 billion won for Adel.Both companies have validated their research and development capabilities and business potential by securing large technology transfer contracts with global pharmaceutical firms. Founded in 2021, NexEye established its immuno-oncology target discovery platform, OncoKine, and successfully transferred its candidate drug, NXI-101, to Ono Pharmaceutical in March 2024, just three years after its inception. The company has also recently received milestone payments related to its clinical entry. NexEye plans to offer 5 million shares, with CEO Yoon Kyung-wan holding a 14% stake, and Korea Investment & Securities serving as the lead underwriter.Established in 2016, Adel co-developed its Alzheimer’s treatment candidate, ADEL-Y01, with Oscotec and transferred it to Sanofi for 1.5 trillion won in December of last year. The upfront payment, which does not require repayment, amounts to $80 million (approximately 118 billion won). Adel plans to offer 2.17 million shares, with CEO Yoon Seung-yong holding a 37% stake, and Samsung Securities and Mirae Asset Securities acting as lead underwriters.Considering that the preliminary review period for listings typically lasts around 45 business days, both companies could receive results from their applications around the Chuseok holiday. If the review proceeds without issues, both firms are expected to enter the KOSDAQ by the end of the year.Other biotech companies are also aiming for KOSDAQ IPOs in the second half of the year. Ingenia Therapeutics is targeting a listing as early as next month, while Breeze Bio has recently passed a biotech technology assessment and plans to apply for a preliminary listing this year.Currently, the KOSDAQ biotech sector is experiencing weakened investor sentiment due to a focus on semiconductor stocks and clinical issues surrounding some large firms like Kolon TissueGene and HLB Therapeutics. An investment banking source noted, “The overall weakness in biotech stocks is a result of the recent semiconductor supply focus and clinical issues faced by major biotech companies. However, NexEye and Adel, with their significant global technology transfer achievements worth hundreds of billions to trillions of won, are being viewed as noteworthy biotech candidates in the upcoming IPO market.”* This article has been translated by AI. 2026-07-22 17:24:00
  • Lee to court AI giants before South America diplomacy on five-nation tour
    Lee to court AI giants before South America diplomacy on five-nation tour SEOUL, July 22 (AJP) -South Korean President Lee Jae Myung will begin a five-nation overseas trip on Friday with meetings in Silicon Valley alongside the world's leading artificial intelligence executives before heading to South America for summit diplomacy aimed at expanding South Korea's economic and strategic partnerships with the Global South. The trip, running from July 24 to Aug. 3, will take Lee to San Francisco, Brazil, Chile, Argentina and Germany, the presidential office announced Wednesday. National Security Adviser Wi Sung-lac and Presidential Chief of Staff for Policy Kim Yong-beom outlined the itinerary during a briefing. Lee's first stop will be San Francisco, where he will spend two days meeting chief executives of leading AI companies and venture capital investors as Seoul seeks to accelerate investment and deepen technological cooperation. According to Kim, Lee is scheduled to hold separate meetings with Nvidia Chief Executive Jensen Huang, OpenAI Chief Executive Sam Altman, Anthropic Chief Executive Dario Amodei and Broadcom Chief Executive Hock Tan. "The president will underscore South Korea's strong commitment to investing in artificial intelligence and expanding global partnerships while seeking tangible outcomes in investment and technological cooperation from the world's leading AI companies," Kim said. Lee will also attend the San Francisco AI Summit, bringing together global technology leaders and heads of South Korea's largest companies, including Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Chung Euisun and Naver Chairman Lee Hae-jin. Participants are expected to discuss South Korea's "three mega projects" strategy for AI development and broader cooperation within the global AI ecosystem. Several memorandums of understanding between Korean companies and global technology firms are also expected to be signed during the event. Lee is scheduled to unveil the San Francisco AI Declaration, laying out Seoul's vision of making South Korea an indispensable partner in the global AI ecosystem through expanded international cooperation and investment. After concluding his U.S. visit, Lee will travel to Brazil from July 26 to 29 for a state visit at the invitation of President Luiz Inacio Lula da Silva. The two leaders are expected to discuss ways to expand cooperation in trade, investment, energy, critical minerals and other strategic industries. Lee will then make an official visit to Chile from July 29 to 30 for summit talks with President Jose Antonio Kast before traveling to Argentina from July 30 to Aug. 1 for a meeting with President Javier Milei. The presidential office said the South American tour is intended to deepen economic ties with three of the region's largest economies while broadening South Korea's diplomatic engagement with the Global South. "This visit is expected to expand trade, investment and market opportunities with Brazil, Chile and Argentina, while broadening South Korea's diplomatic horizon toward the Global South," Wi said. Lee will conclude the trip in Frankfurt, Germany, where he will meet members of the Korean community before returning to Seoul on Aug. 3. The trip marks one of Lee's most ambitious overseas diplomatic missions since taking office, combining AI diplomacy with economic outreach as Seoul seeks to position itself as a leading global technology hub while diversifying partnerships beyond its traditional allies. 2026-07-22 17:21:42
  • AI Technology to Transform Local Healthcare Services
    AI Technology to Transform Local Healthcare Services To address persistent healthcare challenges such as the concentration of services in metropolitan areas and a shortage of local medical personnel, artificial intelligence (AI) technology will be fully implemented. AI packages designed to assist with medical care will be distributed to local health centers and clinics, and a real-time emergency AI platform will be established to guide patients from ambulance transport to appropriate hospital selection, marking a significant step toward healthcare innovation that the public can feel. On July 22, the Ministry of Health and Welfare announced the "AI Basic Healthcare Strategy" in collaboration with the Ministry of Science and ICT and other relevant agencies to fill gaps in local, essential, and public healthcare. This strategy aims to leverage advanced AI technology to overcome physical limitations and provide top-tier medical services nationwide. The initiative will first implement a "Primary Care AI Transformation (AX)" that the public can experience in their daily lives. To supplement the capabilities of healthcare professionals in underserved areas, a "Primary Care AI Solution" will be introduced in health centers and clinics across the country. Essential clinics located in vulnerable areas will receive "Primary Care AX vouchers," and AI-based remote consultations will be piloted through home visit nurses in island and remote regions. An "Emergency Medical AX" will also be activated to protect the golden hour for emergency patients. The government will promote the testing and expansion of a proposed "Emergency Integrated AI Platform" that supports real-time AI analysis from ambulance transport to hospital selection, while enhancing a central emergency control system to verify hospitals' final treatment capabilities in real time. Patients will benefit from a "National AI Health Assistant" service that simplifies complex medical terminology, and a system for sharing medical records and imaging between hospitals will be established through personal health records (PHR). To ensure access to advanced medical care nationwide, infrastructure will be expanded. Seventy-two regional and local responsible medical institutions will utilize cutting-edge AI solutions through the proposed "Public Healthcare AI Highway" to bridge healthcare disparities. Additionally, an "AI Intelligent Hospital Information System" will be developed to ensure that all in-hospital services, including treatment, nursing, and surgery, operate on an AI basis, leading to the creation of an "AI Native Hospital" ecosystem. From a data and ecosystem perspective, a hub will be established to integrate national healthcare data scattered across public institutions and national university hospitals. The government plans to develop a unique "Korean Medical AI (Sovereign Medical AI)" based on domestic clinical data to reduce reliance on foreign technologies. Furthermore, the government will pursue the rationalization of regulations regarding de-identified pseudonymized data in line with the AI era, and establish a fair compensation system for optimal AI-based medical services, along with ethical and security guidelines for safe medical AI, to support a sustainable innovation ecosystem. Minister of Health and Welfare Jeong Eun-kyeong stated, "AI is a tool to fill the gaps in local, essential, and public healthcare and to protect the lives of citizens," adding, "We will implement the 'AI Basic Healthcare Strategy' without fail in collaboration with relevant agencies to address these gaps." Additionally, Baek Kyung-hoon, Vice Chairman of the National AI Strategy Committee and Deputy Minister of Science and ICT, remarked, "The AI Basic Healthcare Strategy is one of the key tasks in realizing a society with AI for all. We will contribute to the swift execution of policies through communication and coordination among stakeholders."* This article has been translated by AI. 2026-07-22 17:16:00
  • AMCHAM launches program connecting South Korean firms with US lawmakers
    AMCHAM launches program connecting South Korean firms with US lawmakers SEOUL, July 22 (AJP) - A new program launched by the American Chamber of Commerce in Korea (AMCHAM) will give South Korean businesses direct access to senior U.S. policymakers, the U.S. business lobby in Seoul said on Wednesday. According to AMCHAM, the program, called "K-Doorknock," made its debut with its annual visit to Washington, D.C., from July 13 to 16. A delegation from about a dozen companies led by AMCHAM chairman James Kim held more than 30 meetings with White House officials, executive branch agencies, and members of Congress including four senators as well as representatives from business associations and policy organizations. Their discussions focused on South Korea's investment in the U.S., advanced technologies, economic security, and industrial competitiveness. K-Doorknock is intended to help South Korean companies raise investment priorities, expansion plans and operational concerns directly with U.S. government officials as they increase their presence in the market. The program expands AMCHAM's traditional advocacy work, which has largely focused on strengthening business ties between Seoul and Washington. It said it now plans to support investment in both directions by assisting U.S. companies operating in South Korea and South Korean companies investing in the U.S. Kim said the program's positive response showed that South Korean businesses are increasingly seeking direct communication channels with U.S. policymakers. "This shows how important South Korean companies consider direct dialogue with U.S. policymakers to be as they expand their operations in the market," Kim said. He also said the delegation found broad bipartisan support in Washington for the U.S.-Korea alliance, along with growing recognition of South Korea's contributions to key sectors such as artificial intelligence (AI), semiconductors, shipbuilding, and advanced manufacturing. Rather than announcing additional commitments, participants stressed the need to carry out investment and cooperation plans that have already been agreed upon, Kim said. They also discussed market access, non-tariff barriers, and the need for a predictable and fair business environment. Kim said sustained dialogue between governments and industry would be necessary to turn investment, innovation, supply chain resilience, and economic security cooperation into measurable results. AMCHAM said it will continue its efforts to connect companies with policymakers in both countries. 2026-07-22 17:12:26
  • Court Finds Oh Se-hoon Guilty of Political Fund Law Violations
    Court Finds Oh Se-hoon Guilty of Political Fund Law Violations Seoul Mayor Oh Se-hoon has been found guilty by a first-instance court for receiving results from undisclosed opinion polls conducted by political broker Myung Tae-kyun and for requesting that a supporter cover the costs. The court determined that evidence, including Myung's testimony, call records, and the timeline of the polls, confirmed that Oh's camp commissioned the surveys and requested payment.The Seoul Central District Court's Criminal Division 22, led by Judge Jo Hyung-woo, sentenced Oh to a fine of 10 million won and ordered him to forfeit 21 million won. The special prosecutor's team, led by Kim Geon-hee, had sought a prison sentence of 18 months and a forfeiture of 33 million won.The court found that after commissioning the polls from Myung, Oh assigned former Deputy Mayor Kang Cheol-won to oversee the surveys and requested that businessman Kim Han-jeong cover the costs. The 21 million won paid to the Future Korea Research Institute was deemed political funding for Oh's campaign, with the court recognizing that Oh and Kang conspired to receive the donation.Specifically, five out of ten undisclosed and disclosed opinion polls conducted between January 22 and February 18, 2021, and three corresponding payments were found guilty. The court noted that Oh met directly with Myung to discuss election strategies and the polls, and that Kang raised concerns about the sample size, leading to adjustments. The timing of Kim's payment immediately after the surveys indicated that it was not a personal favor but rather a response to a request from Oh's camp.However, the court acquitted Oh of five other polls included in the indictment, stating it could not definitively conclude they were commissioned by his camp. The court explained that some undisclosed polls might have been conducted at the request of former People Power Party emergency committee chair Kim Jong-in or based on Myung's own judgment, and some payments could not be specifically tied to the alleged survey costs.In explaining the sentencing, the court stated, "Crimes involving the illegal receipt of political funds are serious as they undermine the integrity of politics." It pointed out that Oh, having served as mayor, should have been aware of the political fund law's intent but still led the crime and displayed a tendency to evade responsibility during the trial.Nonetheless, considering that the offenses occurred over about a month during an internal party primary and that Oh did not maintain a relationship with Myung afterward, the court opted for a fine rather than imprisonment, noting that it could not recognize active manipulation of public opinion and that Oh had no prior criminal record.If this ruling is upheld by the Supreme Court, Oh will lose his position as mayor under the Public Election Act. Political analysts suggest that if the trial proceeds under the expedited trial principle for election offenses, known as '6-3-3,' a Supreme Court decision could come as early as January next year, followed by a by-election for the Seoul mayoral position in April of the same year.* This article has been translated by AI. 2026-07-22 17:12:00
  • Samsung Bioepis and Intuscell Sign Agreement for ADC Drug Development SBE303
    Samsung Bioepis and Intuscell Sign Agreement for ADC Drug Development 'SBE303' Samsung Bioepis and Intuscell have signed a formal agreement for the joint development and commercialization of the antibody-drug conjugate (ADC) candidate 'SBE303.' The two companies will begin follow-up development of the first candidate since their joint research contract in 2023.On July 22, Samsung Bioepis and Intuscell announced the signing of the formal contract for the first candidate in their ADC drug joint development project.In December 2023, the two companies entered into a joint research agreement to discover up to five ADC drug candidates. This latest contract focuses on the follow-up research and commercialization of SBE303, a candidate targeting the Nectin-4 protein, which is currently undergoing global Phase 1 clinical trials. The candidate combines Samsung Bioepis' antibody with Intuscell's linker technology and Frontline's payload from China, developed through open innovation.The contract includes development and sales milestones as well as royalty conditions based on revenue, but the total contract size and specific terms have not been disclosed by the companies.Kim Kyung-ah, CEO of Samsung Bioepis, stated, "This contract marks an important milestone in expanding our business into the next generation of cancer treatments through collaboration with domestic companies. We will continue to pursue innovative research and development to address various unmet medical needs." Meanwhile, Samsung Bioepis presented preclinical research results for SBE303 at the American Association for Cancer Research (AACR) annual meeting in April, confirming the potential for improved antibody-tumor cell binding specificity and intracellular drug delivery efficiency compared to existing Nectin-4 targeted cancer therapies.* This article has been translated by AI. 2026-07-22 17:08:00
  • Ministry of SMEs and Startups Holds Meeting on Startup Regulations
    Ministry of SMEs and Startups Holds Meeting on Startup Regulations The Ministry of SMEs and Startups announced that it held a meeting and a memorandum of understanding (MOU) signing ceremony on July 22 at the Startup Venture Campus (SVC) in Seogyo-dong, Seoul, to identify and alleviate regulations affecting startups in new industries.Seventeen organizations attended the event, including the Korea Startup Forum, the Venture Business Association, the Korea Autonomous Vehicle Industry Association, the Korea Smart Data Association, the Korea AI and Robotics Industry Association, the Korea Climate Tech Association, and the Korea Pharmaceutical and Bio Association.Noh Yong-seok, the acting minister of the Ministry of SMEs and Startups, listened to the challenges faced by the startup sector during the meeting and discussed support measures. According to the ministry, startups identified securing investment funds and regulatory relief as urgent policy priorities.Following the discussions, the participating organizations signed an MOU. Under this agreement, the ministry will establish a communication channel to identify and swiftly improve unreasonable regulations that hinder the innovation and growth of small and venture businesses. Each organization will work on identifying regulatory issues, publicizing regulatory relief, and making recommendations to relevant government departments.Noh stated, "Technologies in new industries such as artificial intelligence and autonomous driving are rapidly advancing, but existing systems and regulations are not keeping pace. We will actively pursue regulatory rationalization through public-private collaboration and government-wide cooperation to identify regulatory challenges."* This article has been translated by AI. 2026-07-22 17:04:00