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Gwangyang Health University to Close in August Following Bankruptcy, Special Transfer Program for 121 Students Announced The Ministry of Education is implementing a special transfer program for 121 students at Gwangyang Health University, which is set to close in August following a bankruptcy declaration due to financial difficulties. To minimize disruption to students' education, the ministry will support transfers to similar programs at nearby universities in Jeonnam and Jeonbuk, and will also adjust essential practical training schedules in the health and medical fields to ensure students can graduate on time. On July 20, the Ministry of Education announced the special transfer program for the 121 enrolled students (including current and leave-of-absence students) at Gwangyang Health University, located in Gwangyang, Jeonnam, which is confirmed to close on August 31 following the bankruptcy of its operating foundation, Yangnam Academy. Yangnam Academy was declared bankrupt by the Gwangju District Court on June 19 due to financial difficulties and mismanagement. After the bankruptcy trustee consulted with university stakeholders, a request was made to the court to continue operations until August 31, which was approved on July 1, finalizing the closure date. The Ministry of Education is proceeding with the special transfer program based on Article 29, Section 2, Item 15 of the Enforcement Decree of the Higher Education Act, which allows for transfers outside of the regular quota in cases of bankruptcy. The special transfer program is available to students from the eight departments at Gwangyang Health University who wish to transfer to other universities. The ministry is coordinating with nearby universities in Jeonnam and Jeonbuk to facilitate transfers to programs that are the same or similar to their current studies. To protect students' educational rights, the transfers will be conducted in two phases: the second semester of the 2026 academic year (Phase 1) and the first semester of the 2027 academic year (Phase 2). Additionally, to prevent delays in graduation for students in health and medical programs who must complete practical training, the ministry plans to actively seek cooperation from the receiving universities to adjust the timing of practical training. For students with disabilities, the receiving universities will be required to review and prepare support systems in accordance with relevant laws and accreditation standards. The Ministry of Education will hold an information session on the special transfer program on July 29 at 2 PM at the Gwangyang Cultural and Arts Center to provide detailed guidance on the schedule and important considerations. In collaboration with the Korea Foundation for the Promotion of Private Education, the ministry will ensure that all enrolled students are informed of the transfer schedule and that no students are overlooked, facilitating a smooth transfer process. Lee Hae-sook, Director of the Higher Education and Lifelong Policy Office at the Ministry of Education, stated, "We will promptly implement the special transfer program in accordance with relevant laws to minimize inconvenience for students and ensure their education is not disrupted. Given the tight schedule for the second semester transfer, we ask for the active cooperation of Gwangyang Health University students and related institutions."* This article has been translated by AI. 2026-07-20 15:04:00
Minister Park Hong-keun Visits Korean Confederation of Trade Unions, Promises to Reflect Labor Voices in Budget Park Hong-keun, the Minister of Planning and Budget, visited the Korean Confederation of Trade Unions (KCTU) on July 20, stating that the government will incorporate labor perspectives in the preparation of next year's budget and the establishment of a long-term national development strategy.During his meeting at the KCTU headquarters in Yeouido, Seoul, Park engaged with KCTU Chairman Kim Dong-myung and other union leaders. The meeting aimed to address current issues in labor and welfare and explore policy alternatives.Chairman Kim proposed several initiatives, including improving the treatment of public sector workers, recognizing the experience of long-term care workers, and supporting substitute workers in caregiving roles. He also recommended separating maternity protection from employment insurance, expanding government support for health insurance, and enhancing policies for caregiving and occupational accident prevention.In response, Minister Park stated, "The government is actively working to alleviate labor market disparities and resolve employment instability based on the measures announced in April to improve the treatment of non-regular workers in the public sector." He added that the government aims to strengthen job foundations and social safety nets while maintaining fiscal sustainability in response to structural changes such as low birth rates, aging populations, and the transition to an AI-centered industry.He emphasized, "We will carefully examine improvements in worker treatment during the budget preparation process for next year and in the operation of the public sector committee starting in September."The Ministry of Planning and Budget plans to continue engaging with various sectors, including labor, to expand financial investments in areas that improve working conditions and enhance the social safety net, ensuring that citizens can feel the benefits.* This article has been translated by AI. 2026-07-20 15:04:00
Coupang Warehouse Fire Raises Safety Concerns After Previous Tragedy A major fire broke out at a Coupang warehouse in Seongnam-dong, Incheon, raising serious safety concerns. The fire, which began on the morning of July 18, has led to the risk of structural collapse, prompting local authorities to issue evacuation orders for nearby residents. Local elementary schools and daycare centers have also closed as a precaution. As of July 20, firefighting efforts are ongoing, with crews battling the flames and managing hot spots for three consecutive days.Residents in the area have suffered from toxic fumes and black smoke, while workers inside the facility and firefighters have faced life-threatening conditions. Fortunately, there were no immediate casualties due to the quick evacuation of workers at the onset of the fire. However, the incident has caused significant disruptions in logistics and economic losses, highlighting the failure of safety measures at large-scale facilities, which has left the community in shock and dismay.What is particularly infuriating is that this incident was not an unforeseen accident. In June 2021, a fire at Coupang's Deokpyeong logistics center in Icheon resulted in the tragic death of a firefighter and the complete destruction of the building. At that time, Coupang and the government promised "thorough safety management" and "innovative measures to prevent recurrence," yet a similar disaster has occurred again in a short span of time. The empty promises and superficial inspections have been exposed as mere facades. The failure to learn from past tragedies and the repetition of the same mistakes is a clear indication of corporate negligence regarding safety.Each time a major accident occurs, our society tends to follow a similar pattern. Initially, there are loud investigations and special fire inspections, followed by a flurry of proposed measures. However, as public interest wanes, related legislation often fails to progress in the National Assembly and is left unattended. In industrial settings, the push for cost-cutting and operational efficiency has relegated safety guidelines to mere formalities.Concerns raised during this fire, such as the functionality of fire safety equipment and the adequacy of initial responses, mirror issues identified during the Icheon tragedy. The "patchwork solutions" and "band-aid responses" continue to lead to major disasters in industrial environments.It is now imperative to change the fundamental approach to safety. Investigative authorities must thoroughly examine the cause of the fire, the functionality of fire safety systems, and the overall safety management practices without any doubt. If evidence of safety violations or negligence due to budget cuts is found, the law must impose the strictest penalties, regardless of rank. It is crucial to instill the understanding that the social and economic costs of accidents far outweigh any profits gained from neglecting safety.Even for a global advanced company, failing to guarantee the lives and safety of workers is akin to building a house of cards. A robust safety net that protects workers and citizens is far more important than a sophisticated logistics network. The government must also go beyond one-time inspections and immediately establish a high-level safety system that effectively addresses issues such as improving sandwich panel structures and setting specialized fire safety standards for large logistics facilities.Safety is an uncompromising value, and reactive measures cannot protect precious lives and societal assets. This fire should serve as a wake-up call to revive our dulled sense of safety. It is time for the government, businesses, and society as a whole to commit to a fundamental shift in safety paradigms to prevent further tragedies.* This article has been translated by AI. 2026-07-20 15:04:00
GS Retail Launches AI-Focused Project with Startups to Innovate Retail Solutions GS Retail has initiated an on-site focused AX (AI Transformation) project in collaboration with artificial intelligence (AI) startups to address challenges in the retail sector.On July 16, GS Retail held the fourth meet-up of its open innovation program, 'The GS Challenge Future Retail,' at GS Tower in Gangnam, Seoul, announcing the start of proof-of-concept (PoC) projects with five selected startups.This year's program operates by first defining the challenges that business units need to solve on-site, then identifying startups with suitable technology and execution capabilities.GS Retail surveyed the needs of its 17 business units and selected key areas including data and AI intelligence, autonomous operation optimization, and digital engagement innovation.Beginning with this meet-up, GS Retail and the startups will conduct the proof-of-concept projects over approximately four months, concluding in mid-November. Key tasks include analyzing customer behavior and purchasing patterns in fresh food stores using vision AI, optimizing search capabilities for generative AI environments, and automating customer relationship management (CRM) with AI.Additionally, projects will focus on discovering trending products using social media data and developing brands based on influencer and fandom data.Lee Seong-hwa, head of GS Retail's New Growth Division, stated, "We will enhance Future Retail as an open innovation platform that connects real-world problem-solving with actual business applications."Meanwhile, on July 6, GS Retail held a sharing session at GS Tower in Yeoksam-dong to discuss on-site AX case studies that have been implemented thus far with its employees.* This article has been translated by AI. 2026-07-20 15:04:00
The War-Driven Acceleration of the Electric Vehicle Era: A Look at China's Dominance Wars have always altered the course of the global economy. The oil shocks of the 1970s spurred energy conservation and fuel efficiency competition, while the Russia-Ukraine conflict has shaken Europe's energy security strategies. The recent prolonged violence in the Middle East is creating yet another inflection point. International oil prices fluctuate dramatically whenever geopolitical risks rise, and instability in oil supply chains, including the Strait of Hormuz, has become a constant concern. The immediate impact is rising oil prices, but the more significant change is the global industry's movement away from fossil fuel dependence.The transition to electric vehicles (EVs) should also be viewed through this lens. Until now, the adoption of EVs has been driven primarily by carbon neutrality policies and environmental regulations. In the future, energy security is likely to become an even more critical motivator. Countries that heavily rely on oil imports will have no choice but to accelerate electrification to mitigate the shocks from oil price fluctuations and supply chain disruptions. We are entering an era where energy security and industrial competitiveness are intertwined challenges.China stands to benefit the most from this shift. Just over a decade ago, Chinese electric vehicles were often seen as cheap, low-quality products. That perception has changed. China has effectively built a domestic-centric supply chain for EVs, encompassing batteries, rare earth elements, motors, power semiconductors, and software. The world's largest battery manufacturer, CATL, leads the global market in both technology and production capacity. BYD has grown to become the largest seller of electric and plug-in hybrid vehicles worldwide.The combination of long-term industrial support from the Chinese government and a vast domestic market has allowed China to achieve economies of scale. Recently, it has also been recognized as a competitor to the U.S. in the smart car sector, integrating artificial intelligence (AI) technology. This is why global automakers are expanding collaborations with local companies to target the Chinese market.In contrast, European automakers are restructuring due to declining EV demand and rising costs, while Japanese companies are also reassessing their investment strategies. The U.S. is focusing on protecting its domestic industry through tariffs and subsidies, but it struggles to compete with China's price competitiveness. If energy instability from the Middle East persists, the gap is likely to widen further.South Korea cannot afford to be complacent. Hyundai Motor Group finds it challenging to assert a competitive advantage over China in the fields of electric vehicles, batteries, and software-defined vehicles (SDVs). As the global market's center of gravity shifts, relying on past success formulas will not ensure sustainable growth.It is essential to view electric vehicles not merely as a segment of the automotive industry but as a national strategic industry that combines energy security and AI. There is a pressing need to develop the entire supply chain, including next-generation batteries, power semiconductors, vehicle AI chips, autonomous driving software, and charging infrastructure. In particular, efforts to extend the manufacturing competitiveness gained in semiconductors and batteries to AI-based mobility are crucial.We must clearly distinguish between areas of competition and collaboration with China, the world's largest EV market and supply chain hub. Practical cooperation should be sought in battery materials, critical minerals, charging infrastructure, and autonomous driving technology. As the global industry undergoes a reorganization centered around supply chains, relying solely on ideological divides will not secure a foothold in future markets.The conflict in the Middle East is shaking international oil prices, but its repercussions extend beyond the energy market, reshaping the future of the automotive industry. The uncertainties of the oil era are acting as a catalyst for the acceleration of the electric vehicle era. If South Korea can leverage its manufacturing prowess to secure competitiveness against China, it could confidently enter the competition for leadership in the future mobility market. 2026-07-20 15:00:00
Shandong High-Speed Chairman: South Korea is an Optimal Investment Destination with No Financial Risks Shandong High-Speed, the first Chinese public fund to make a financial investment in South Korea's renewable energy sector, has described the Korean market as an optimal investment destination with no financial risks and favorable geographical conditions. The company anticipates increased Chinese capital investment in various projects, particularly as artificial intelligence (AI) and renewable energy continue to expand.In an interview with Aju Economy on July 20, Chairman Pan Yongmin stated, "There are about 100,000 Koreans and business operators in Shandong Province, and active business exchanges are taking place. We want to pursue various projects connecting energy and data centers in South Korea."On the same day, Shandong High-Speed signed a memorandum of understanding for joint development of a 1-gigawatt (GW) renewable energy project with South Korean infrastructure development firm Yurim T&S. The company plans to invest up to 1 trillion won and is also seeking additional investment opportunities in South Korea.Chairman Pan particularly praised South Korea's financial environment, saying, "Korea's finance has developed significantly compared to other countries in the global economy, and there are almost no risks involved. Investment in computing systems is also active, allowing us to make bold investment decisions."The funding for Shandong High-Speed's renewable energy investments in South Korea will come from reinvesting profits earned from investments in companies like POSCO. The company aims to continue reinvesting based on a stable financial system and rapid infrastructure expansion.Chairman Pan expressed interest in large projects that link energy and AI data centers. He noted, "In Singapore and China, there are many projects built at a 1:1.3 ratio between AI data centers and renewable energy. Since South Korea is actively expanding both renewable energy and AI data center projects, we would like to participate in many good projects if they arise."He also mentioned the recent improvement in relations between the two countries. "Although the atmosphere between our two countries changes with each new government, the friendship of cooperation and support remains unchanged," he said. "With the current government improving relations, we can create more good business opportunities and projects."He emphasized, "South Korea is a law-based society, and we always invest according to Korean law. Given its geographical advantages and lack of financial risks, we intend to continue investing actively in South Korea."* This article has been translated by AI. 2026-07-20 14:56:00
Seoul's top-tier apartments remain far more expensive than elsewhere in South Korea SEOUL, July 20 (AJP) - Buying a top-tier apartment in Seoul now requires at least 4.65 billion won, according to an analysis by real estate platform Zigbang. The minimum price needed to rank among Seoul's top 1 percent most expensive apartments reached 4.65 billion won (US$3.10 million) in the first half of this year, while the average transaction price for those homes stood at 6.36 billion won. But both the minimum and average prices slightly eased after reaching record highs in the first half of last year, falling from 4.98 billion won and 6.88 billion won, respectively. Amid a widening gap between the capital area and other parts of the country, Gyeonggi Province ranked a distant second, with buyers required to pay at least 1.85 billion won to buy an apartment in the top 1 percent by price. Daegu followed at 1.58 billion won and Busan at 1.53 billion won. Minimum transaction prices for those in the administrative city of Sejong stood at 1.28 billion won, while Daejeon and Incheon were in the 1.1 billion won range. Other regions saw much lower levels, with several provinces staying below 1 billion won. In Seoul, transactions for expensive apartments were mainly seen in districts along the Han River, newly built luxury complexes, and areas slated for redevelopment in southern Seoul. In Gyeonggi Province, the priciest deals were concentrated in areas with good access to Seoul, including Gwacheon, Bundang and Pangyo in Seongnam, Gwanggyo in Suwon and Dongtan in Hwaseong. Outside the capital area, most high-end apartment deals were largely limited to a handful of landmark complexes in major cities such as Busan and Daegu. "The capital area has a broader high-end housing market, while provincial markets tend to be centered on a few landmark luxury complexes," a Zigbang spokesperson said. 2026-07-20 14:55:42
Insurance Loan Management Tightens Amid Growing Loan Crisis The tightening management policies by financial authorities to curb household loan growth are extending beyond banks to the secondary financial sector, further narrowing funding options for citizens. Despite a decline in household loans from the insurance sector, concerns are rising that the management orders from authorities are limiting non-bank funding opportunities for borrowers who find it difficult to access bank loans.As of the end of the first quarter of this year, the outstanding household loans from life and non-life insurance companies totaled 63.912 trillion won, a 1.8% decrease from 64.2377 trillion won during the same period last year. Compared to three years ago, this figure has shrunk by 2.7%.The outstanding household loans from life insurance companies amounted to 41.8169 trillion won, reflecting a 0.5% decrease year-on-year. Non-life insurance companies reported 21.2742 trillion won, marking a 4.2% decline, which is a larger drop than that of life insurers.Although the scale of household loans from insurance companies is decreasing, financial authorities reportedly summoned insurers last month to reinforce management of household loans. In response, insurers are focusing on total loan management and are reducing new loan approvals.Some insurance companies are adopting even more conservative lending practices. Kyobo Life has reduced its maximum limit for credit loans from 60 million won to 50 million won starting this month, while Samsung Fire & Marine Insurance has halted new applications after reaching its self-imposed limit for mortgage loans.Major insurers have also reduced the loan limit for insurance contract loans, which previously allowed borrowing up to 90% of the surrender value, by 10 percentage points since April, following directives from financial authorities. Insurance contract loans, which allow policyholders to borrow against their accumulated surrender values without requiring separate credit checks or income verification, have been a key source of emergency funding.With the barriers to bank loans becoming higher and the limits on insurance contract loans being tightened, there are growing concerns that policyholders in need of urgent funds for medical expenses or living costs may face increased financial burdens. This could also impact the financial planning of policyholders who had based their funding strategies on the previous loan limits.An industry insider stated, "Insurance contract loans are fundamentally different from general credit loans, as they utilize the surrender values accumulated from premiums paid by consumers. While we understand the government's intention to manage household debt, applying the same restrictions to all loans could ultimately push consumers in need of urgent funds towards high-interest loans." 2026-07-20 14:44:00
Nearly Half of Workers Feel Unable to Take Parental Leave A recent survey reveals that nearly half of workers feel they cannot freely take parental leave, sparking debate online.The survey, commissioned by the labor rights group Workplace Abuse 119 and conducted by Global Research, involved 1,000 workers aged 19 and older across the country from June 1 to June 9. It found that 46.7% of respondents reported they could not freely use parental leave.According to Yonhap News, the challenges are more pronounced among non-regular workers (62.3%) compared to regular employees (36.3%), and those in businesses with fewer than five employees (68.6%) compared to those in companies with over 300 employees (30.5%). Among female non-regular workers, 70.2% reported difficulties in taking parental leave.Additionally, 41.6% of respondents indicated they could not freely take maternity leave, with 65.9% of female non-regular workers expressing similar concerns.However, both parental and maternity leave are reported to be more accessible for men and senior management, who often have higher usage rates.The survey also found that 52% of respondents felt they could not freely take family care leave, a figure higher than those for parental and maternity leave. The trend of higher negative responses among women and non-regular workers persisted.Following the survey results, criticism of workplace culture has emerged on online communities and social media. Users commented, “Having a system means nothing if you can’t use it,” “The moment you mention taking parental leave, you start feeling the pressure,” and “Isn’t it contradictory to encourage childbirth while creating an environment that discourages taking time off?”Many workers resonated with these sentiments. Some expressed, “Even though it’s a legally guaranteed right, I have to consider the team atmosphere first,” “If my boss shows disapproval, just filling out the application feels daunting,” and “I worry that my position will be gone when I return from parental leave.” This highlights the perception that taking parental leave is more about seeking permission than exercising a right.Responses also highlighted the realities faced by non-regular and small business workers. Comments included, “In large companies, at least the system is in place, but in small firms, losing one employee makes you feel like a criminal,” and “For contract workers, even mentioning parental leave can feel like giving up on re-contracting,” and “In businesses with fewer than five employees, the boss’s opinion often outweighs the system.”Voices pointing out the burdens faced by female workers continued. Users noted, “The problem is that from the moment you announce your pregnancy, you have to worry about being sidelined or facing disadvantages,” “The fact that 70% of female non-regular workers can’t use their leave freely means they are effectively outside the system,” and “If childbirth and parenting are treated as personal issues, the low birthrate problem will never be resolved.”Conversely, some comments acknowledged the difficulties faced by employers and colleagues. Some users remarked, “In small companies, when one person is absent, the remaining staff have to take on the workload,” “There are industries where it’s hard to find substitute workers,” and “Simply increasing penalties for employers won’t solve the issue; support for substitute workers is also necessary.”However, the majority of responses converged on the need for a change in workplace culture. Comments included, “If losing one employee can bring down a company, that’s not an individual responsibility but a systemic issue,” “Companies that do not accommodate employees on parental leave will lose talent in the long run,” and “The atmosphere that makes employees raising children feel guilty must change.”Concerns about the return process after parental leave have also emerged as a significant issue. Workplace Abuse 119 reported that from January to June of this year, there were 36 consultations regarding workplace abuse related to childbirth and parenting, including cases where employees were notified of their termination during parental leave or were reassigned to distant locations after requesting reduced hours.In response, users stated, “It’s not surprising that people say returning from leave is scarier than taking it,” and “Who would feel comfortable using leave if they return to find their desk gone or are excluded from work?” This indicates that concerns extend beyond just taking parental leave to include potential disadvantages and ostracism upon returning.Some users criticized the disconnect between low birthrate policies and labor realities. Comments included, “Instead of just worrying about low birthrates, we need to create workplaces where people can have and raise children,” “How can providing childbirth incentives solve the issue in a country where parental leave isn’t freely available?” and “For low birthrate policies to be meaningful, those raising children must be able to continue working.”There were also calls for improved perceptions of male parental leave. Users noted, “The atmosphere that views men taking parental leave as unusual needs to change,” “The lingering belief that childcare is solely a woman’s responsibility places a heavier burden on female workers,” and “A culture where fathers can naturally take parental leave must develop so that companies do not view only one gender as a burden.”Ultimately, the debate over parental leave is evolving from a personal choice issue to a structural workplace issue. As long as childbirth and parenting remain solely individual responsibilities, employees will find it difficult to use available systems without anxiety. If society is genuinely concerned about low birthrates, it must first create a workplace environment where employees do not face disadvantages for taking time off for childbirth and parenting.Users agree that “We need to create a society where those taking parental leave do not feel guilty,” “Employees raising children should not be seen as a burden to the company,” and “For the system to be more than just words on paper, the workplace atmosphere must change.” There is growing interest in whether parental leave can become a recognized right rather than a ‘game of perception.’* This article has been translated by AI. 2026-07-20 14:44:00
Spain Wins FIFA World Cup, Ending 16-Year Drought Spain has returned to the pinnacle of international soccer, winning the FIFA World Cup for the first time in 16 years and signaling the revival of the 'Invincible Armada.' With a solid defense and a successful generational transition, Spain showcased the potential for a new golden era.On July 20, Spain defeated Argentina 1-0 in the final held at MetLife Stadium in East Rutherford, New Jersey, thanks to a late extra-time goal from Ferran Torres.This victory marks Spain's second World Cup title, following their triumph in South Africa in 2010. Additionally, the team set a new record for the longest unbeaten streak in men's soccer, going 38 matches without a loss (29 wins, 9 draws).Spain, which previously dominated major tournaments by winning the UEFA European Championship in 2008, the World Cup in 2010, and the European Championship again in 2012, has now added the 2024 Euro title to its achievements, signaling the start of a new golden age.Central to Spain's success was their 'suffocating defense.' Throughout the tournament, they conceded only one goal in eight matches, setting a record for the fewest goals allowed by a World Cup-winning team. In the final, they did not allow Argentina, the defending champions, a single shot on goal during regulation time, a first in World Cup final history.Spain's robust defense was not merely about holding the line; it involved strong pressing starting from the midfield and effective use of space to neutralize opposing attacks. The statistics support this, with Spain achieving 1,641 successful presses and attempting 3,431 passes, both leading the tournament.Looking ahead, Spain's future appears bright due to a successful generational transition. While Vicente del Bosque led Spain to its first title in 2010 with 'tiki-taka' soccer, current coach Luis de la Fuente has built a 'new golden generation' through strong organization and youth integration. Notably, 2007-born forward Lamine Yamal and center-back Pau Cubarsi have been key contributors, suggesting that Spain's dominance in soccer may continue for some time.Spain also swept the tournament's major individual awards. Rodri was named the tournament's Most Valuable Player (MVP) and received the Golden Ball, while Unai Simon, who recorded seven clean sheets, won the Golden Glove for best goalkeeper. The Young Player Award went to the solid defender Cubarsi. The Golden Boot for top scorer was awarded to Kylian Mbappe of France, who scored 10 goals and provided 4 assists.In contrast, Lionel Messi of Argentina, often referred to as the 'God of Soccer,' faced a bittersweet ending with his team's loss. Despite scoring 8 goals and providing 4 assists during the tournament, he set a record as the oldest field player (39 years and 25 days) to appear in a World Cup final. However, he was unable to register a single shot on target against Spain's strong defense throughout the 120 minutes.Ultimately, Messi's dream of winning a second World Cup title, following his victory in Qatar in 2022, came to an end as he bid farewell to his final World Cup stage. After receiving the Silver Ball and Silver Boot, he was seen shedding tears while wearing the silver medal. He quietly left the stadium through the tunnel as Spain lifted the trophy. 2026-07-20 14:40:00