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Korea's Small Business Agency Launches CBAM Academy to Aid EU Compliance The Small and Medium Business Administration announced on July 16 that it will conduct a "Small Business CBAM Response Customized Training (CBAM Academy)" to help effectively respond to the European Union's Carbon Border Adjustment Mechanism (CBAM).CBAM is a system that imposes costs on the carbon emissions generated during the production of imported products. It currently applies to six items: steel, aluminum, cement, fertilizers, electricity, and hydrogen.The Small Business Administration has revamped the training program to reflect the needs of existing trainees, focusing on practical case analysis and problem-solving to help participants clearly understand and apply the regulations in the field.The theoretical training integrates basic and advanced courses and introduces a new "problem-solving" component to provide tailored advice based on individual learners' understanding. The practical training has been enhanced to align with changes in carbon emissions reporting methods for EU CBAM-exporting companies. Participants will set up virtual businesses to directly calculate carbon emissions and create templates to increase field relevance.The training sessions are scheduled to take place at major locations nationwide from the end of this month through August.The Small Business Administration is also recruiting companies for the second round of its "Small Business CBAM Response Infrastructure Development" project until August 6. This second recruitment includes a new type of support focused solely on the rapid verification of self-prepared carbon emissions reports, reflecting demand for verification assistance. Selected companies will receive up to 42 million won in government subsidies.Director General Kang Seok-jin stated, "I hope this training will strengthen small businesses' capacity to respond to carbon trade regulations," adding, "We will continue to lead efforts to help our small businesses overcome the challenges posed by global carbon regulations and enhance their competitiveness."* This article has been translated by AI. 2026-07-16 11:20:00 -
Houthi Forces Prepare to Block Bab-el-Mandeb Strait, Potentially Impacting Red Sea The Houthi rebels, part of the Iran-aligned resistance axis in the Middle East, are reportedly preparing to block the Bab-el-Mandeb Strait, the entrance to the Red Sea, according to a report by the UK Telegraph citing a source on July 15. This comes as Iran has already declared a renewed blockade of the strategically vital Hormuz Strait, raising concerns about the potential closure of another key shipping route.According to the report, the Houthis have quietly begun preliminary preparations for the blockade of the Bab-el-Mandeb Strait and are discussing strategies with the Somali militant group Al-Shabaab. The source stated, "There are many indications of cooperation between the Houthi rebels and Al-Shabaab," adding that this collaboration aims to fully control and blockade the Bab-el-Mandeb Strait should Iran decide to act.Furthermore, the source noted that the Houthis are transferring drone technology to Al-Shabaab on behalf of Iran, which is positioning the Houthis as a leading force in the region.The Houthi plan involves blocking the Bab-el-Mandeb Strait, located between Yemen and Somalia, as Iran appears to be strategizing a scenario similar to its control of the Hormuz Strait. The Islamic Revolutionary Guard Corps (IRGC) hinted at the possibility of blocking the Bab-el-Mandeb Strait in a statement to the state-run IRNA news agency, saying, "We can close all export routes that benefit the U.S. and its allies, in addition to the Hormuz Strait."The Bab-el-Mandeb Strait is a critical chokepoint through which 10-12% of global maritime traffic passes. A blockade here would exacerbate the already significant economic impact from the closure of the Hormuz Strait. Observers warn that simultaneous blockades of both the Hormuz and Bab-el-Mandeb straits would result in unprecedented economic repercussions.During the conflict between Israel and the Palestinian militant group Hamas, the Houthis launched missile attacks on vessels operating in the Red Sea for several months, forcing shipping companies to reroute to the longer route around the Cape of Good Hope.Sources indicate that the Houthis and Iran are considering the blockade of the Bab-el-Mandeb Strait to intensify pressure on the global economy and to exert pressure on President Donald Trump. However, it is reported that the Houthis are currently refraining from taking significant action. The Telegraph explains that the Houthis are not merely Iran's puppets but rather partners, and they have their own objectives in the ongoing conflict with Saudi Arabia, suggesting they will not blindly comply with Iranian demands. The source also remarked, "It is not a good idea for Iran to use all its cards at the beginning of the war."Meanwhile, it is reported that the Houthis are receiving training on how to respond to potential strikes against Iranian leadership. Houthi leader Abdul Malik al-Houthi has reportedly arranged for a family member to succeed him in the event of his removal.* This article has been translated by AI. 2026-07-16 11:16:00
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Daewoong Pharmaceutical Expands Indications for Violette with New Partnerships Daewoong Pharmaceutical is expanding the indications for its fat-dissolving injection, Violette. The company aims to secure clinical evidence for localized fat management, starting with the front axillary fat.On July 15, Daewoong Pharmaceutical signed a memorandum of understanding (MOU) for joint research on new indications for Violette with Bundang Seoul National University Hospital and 365mc at Daewoong's headquarters in Samsung-dong, Seoul. The signing ceremony was attended by Yoon Jun-soo, head of Daewoong's Nabota business division, Kim Nam-cheol, CEO of 365mc, and Professor Heo Chang-hoon from the dermatology department at Bundang Seoul National University Hospital.Violette is the first domestically produced deoxycholic acid (DCA) injection, an original drug that has proven its safety and efficacy in clinical trials involving Koreans. It is the only DCA injection in South Korea with its own authorized clinical data.Daewoong Pharmaceutical has noted an increase in demand for managing residual fat and skin elasticity following weight loss due to the rise of glucagon-like peptide-1 (GLP-1) obesity treatments. The company is expanding Violette's indications beyond its current approval for double chin improvement to include various localized areas, such as the front axillary fat. Daewoong has built an aesthetic lineup targeting body contouring needs by adding the botulinum toxin Nabota and the filler D-Classy to its fat-dissolving injection.Daewoong plans to enhance the clinical value of Violette by combining its five years of market experience and research and development capabilities with the clinical research expertise of Bundang Seoul National University Hospital and the body contouring know-how of 365mc. The company intends to accumulate clinical evidence for various localized areas, including the abdomen, arms, and thighs, starting with this research.Professor Heo Chang-hoon's research team at Bundang Seoul National University Hospital will conduct a researcher-initiated clinical trial (IIT) to confirm the effectiveness of Violette in reducing front axillary fat. This clinical trial is set to begin following the approval of the clinical trial plan (IND) by the Ministry of Food and Drug Safety in October of last year and the Institutional Review Board (IRB) approval in April of this year. 365mc contributed to the development of evaluation indicators for front axillary fat during the IND approval process.Yoon Jun-soo, head of Daewoong's Nabota business division, stated, "This agreement marks the starting point for expanding Violette's indications based on its originality and leadership. We will combine the strengths of the three institutions to enhance the value of DCA formulations and lead the evidence-based body contouring market."* This article has been translated by AI. 2026-07-16 11:16:00
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SK Telecom Shares Rise Over 6% on AI Data Center Expansion and Earnings Recovery SK Telecom's shares have surged over 6% during trading, driven by expectations of expanding its artificial intelligence (AI) data center business, earnings recovery, and dividend prospects.According to the Korea Exchange, as of 10:48 a.m. on July 16, SK Telecom's stock was trading at 90,200 won, up 5,200 won (6.12%) from the previous trading day.The rise in stock price is attributed to the government's push for the AI data center (AI DC) project, one of the three major mega-projects under the 'Korea Great Leap Forward' initiative, which has encouraged investor sentiment as SK Telecom accelerates its related business expansion.On the previous day, SK Telecom established the 'AI DC Integrated Promotion Team' under its CEO, appointing Jeong Seok-geun, head of the AI CIC, as the team leader. The team will oversee the entire process of the AI data center project, from site selection and design to construction and customer acquisition.SK Telecom is leading the SK Group's AI data center initiatives, starting with a facility in Ulsan and planning to expand to the Yeongnam and Honam regions.Analysts are also focusing on the AI data center business and its potential for earnings improvement. Meritz Securities upgraded its investment rating for SK Telecom from 'Hold' to 'Buy' and raised its target price from 98,000 won to 110,000 won.Jeong Ji-soo, an analyst at Meritz Securities, stated, "The consolidated operating profit for the second quarter is expected to be 535.5 billion won, in line with market consensus. Improvements in wireless performance due to an increase in 5G subscribers and growth in SK Broadband's data center-focused corporate business will drive earnings." He added, "With the completion of the Ulsan data center and the Seoul 3 data center in 2027, along with the full-scale launch of the colocation business, the data center segment is expected to make a significant contribution to earnings. Considering the normalization of earnings and the appeal of dividends, we have upgraded our investment rating to 'Buy' and increased the target price to 110,000 won."* This article has been translated by AI. 2026-07-16 11:12:00
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Hapcheon County Becomes First in South Korea to Designate Rural Specialized District Hapcheon County in South Gyeongsang Province has become the first in South Korea to designate a rural specialized district. This initiative marks the first application of rural spatial planning in practice, focusing on the development of the pet industry and the renovation of aging livestock facilities.The Ministry of Agriculture, Food and Rural Affairs announced that on July 16, Hapcheon County was designated as a rural specialized district under the Rural Space Restructuring Act, which includes one rural complex industry district and one rural village protection district. A rural specialized district is an area designated by local governments for efficient development, use, and preservation of rural spaces based on various functions such as residential, industrial, scenic, and livestock.The Rural Space Restructuring Act was implemented in March 2024 to address issues of reckless development and the risk of regional extinction in rural areas. A total of 139 cities and counties nationwide are currently establishing long-term rural space master plans, which are updated every ten years. Following the establishment of its master plan in February of this year, Hapcheon County has now completed the designation of its specialized district, becoming the first in the country.The newly designated rural complex industry district will be developed as a hub for the pet industry, linked to the existing pet-themed park 'Mungstay.' The key facility will be a 'Pet-Wellness Coexistence Platform,' which will include a pet academy, a pet food manufacturing and processing experience space, pet-friendly workation facilities, and a multi-cultural space.Hapcheon County aims to create a new income base by combining local agricultural products with the pet industry. Plans include producing and selling pet food made from local products such as Hanwoo beef and sweet potatoes, as well as increasing the influx of residents through pet-friendly accommodations and workation spaces.A walking trail called 'Pyeonggu Safe Dog Path' will be established to connect villages and facilities. This initiative aims to encourage visitors to utilize local cafes and restaurants, thereby linking tourism spending to residents' income.In the rural village protection district, aging poultry houses that have been detrimental to the village environment will be demolished. The cleared area will be transformed into a 'Pyeonggu Coexistence Village Forest' where residents and visitors can relax, enhancing the village's landscape and living environment.The Ministry of Agriculture, Food and Rural Affairs plans to support the spread of Hapcheon County's model nationwide through tailored consulting for different regions. Government support projects, such as rural agreements and rural space maintenance projects, will also be prioritized for connection.Jeon Han-young, Director of the Rural Policy Bureau at the Ministry of Agriculture, Food and Rural Affairs, stated, “By designating a specialized district for the first time in the country, Hapcheon County has shown a blueprint for how spatial planning can transform rural areas. We will actively support the dissemination of this leading model to invigorate rural communities across the nation.”* This article has been translated by AI. 2026-07-16 11:12:00
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Park Hong-geun: Second Half of Year Focused on Achievements and Budget Planning Park Hong-geun, Minister of the Ministry of Planning and Budget, emphasized the need to accelerate key tasks such as budget preparation for the second half of the year and the establishment of a long-term national development strategy. He stated that communication with stakeholders, including the public, the National Assembly, and experts, should be strengthened, and necessary legislative amendments should be expedited.On July 16, the Ministry held its seventh expanded executive meeting at the Government Sejong Center, chaired by Minister Park, to review the direction of work for the second half of the year and key issues.During the meeting, Minister Park encouraged staff members who have been addressing major issues, including recent meetings of the Finance Committee, discussions on youth policy, national fiscal strategy meetings, and departmental reports. He stressed the importance of staff recharging and urged executives to lead by encouraging employees to take their summer vacations.Regarding the direction of work for the second half of the year, Minister Park called for actionable results. He stated, "As we enter the second half of the year, it is time to put into practice the tasks we have planned. We must actively communicate with various stakeholders during the budget preparation and the establishment of the long-term national development strategy."On the preparation of next year's budget, he announced plans to proactively gather opinions from the National Assembly and political parties. He also intends to communicate swiftly with the newly inaugurated local governments.Furthermore, he directed that a broad collection of public opinions be conducted using online platforms during the establishment of the long-term national development strategy. Minister Park emphasized the need to closely examine suggestions from the youth, who are the future leaders of society, and incorporate them into policies.The Ministry also plans to expedite the processing of key legislation. Minister Park urged close pre-consultation with the National Assembly's standing committees regarding the Public Interest Whistleblower Encouragement Fund Act and the Voluntary Carbon Market Act, ensuring thorough preparation for the passage of these bills.He stressed, "Among the core agendas that the Ministry is focusing on, tasks that are particularly challenging or require priority should have more detailed implementation strategies established and be executed promptly."Before the meeting, a ceremony was held to appoint the Minister's policy advisor and to award exemplary public servants, long-serving employees, those promoted to administrative officer, and outstanding public servants in proactive administration. Encouragement funds were also awarded to departments with heavy workloads.* This article has been translated by AI. 2026-07-16 11:12:00
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Defense chiefs from US, Japan, South Korea reaffirm trilateral cooperation i SEOUL, July 16 (AJP) - Top military officials from Japan, South Korea, and the U.S. met in the U.S. to discuss trilateral security cooperation, the Joint Chiefs of Staff (JCS) here said on Thursday. According to the JCS, its chairman Jin Young-seung who made his first U.S. trip since assuming his post in September last year, attended the 23rd annual Trilateral Chiefs of Defense (Tri-CHOD) meeting in Washington, D.C., the previous day, where he held discussions with his U.S. and Japanese counterparts, Dan Caine and Hiroaki Uchikura. At the meeting, also attended by U.S. Forces Korea commander Xavier Brunson, U.S. Forces Japan commander Stephen Jost, and Indo-Pacific Command Deputy Commander George Lowell, the three military chiefs reaffirmed their commitment to strengthening their combined defense posture and trilateral security cooperation while agreeing to continue working together toward North Korea's complete denuclearization. They also discussed other security agendas and regional issues along with details for an annual large-scale trilateral military drill dubbed "Freedom Edge" slated for later this year. They stressed the importance of trilateral cooperation in countering North Korea's nuclear and missile threats and addressing broader regional challenges affecting peace and stability on the Korean Peninsula and in the Indo-Pacific. On the sidelines of the meeting, Jin also held separate talks with Caine and Uchikura. The next Tri-CHOD will be held in Japan in 2027. 2026-07-16 11:06:00 -
People Power Party Plans Filibuster Against Democratic Party's Special Investigation Bill 국민의힘은 16일 더불어민주당이 '2차 종합특검 연장법' 강행 처리에 나서자 필리버스터(무제한 토론)를 예고했다. 국민의힘은 이날 소속 의원들에게 알림을 통해 "민주당은 후반기 원 구성 협치 정신을 저버린 채, 법제사법위원회를 단독으로 열어 수사기간을 연장하는 2차 종합특검법 개정안을 강행 처리했다"며 "오는 20일 본회의 강행처리를 주장하고 있다"고 밝혔다. 그러면서 "우리 당은 필리버스터로 강력히 맞설 예정"이라며 의원 전원에게 20일 오전부터 경내 대기를 요청했다. 앞서 법사위는 전날 민주당 주도로 전체회의를 열어 2차 종합특검(권창영 특별검사)의 수사 기간을 30일 추가 연장하는 내용의 개정안을 의결했다. 2차례 연장한 2차 종합특검 수사 기간은 오는 24일까지다. 개정안에는 공무원 등이 직무 유기·직권남용·공무상 비밀누설을 통해 감사를 방해하는 행위 등을 수사 대상에 추가하는 내용을 담았다. 또한 파견 공무원 숫자를 현행 130명에서 150명 이내로 확대하고, 수사 기한을 연장할 수 있는 횟수도 현행 1회 30일에서 2회 각 30일로 늘렸다.* This article has been translated by AI. 2026-07-16 11:00:00
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Deputy Prime Minister Baek Kyung-hun Calls for Advanced AI Security Models Deputy Prime Minister and Minister of Science and ICT Baek Kyung-hun emphasized the need to develop advanced frontier models to fundamentally address security threats posed by artificial intelligence (AI).During a presidential briefing held at the Blue House on July 16, Baek stated, "To fundamentally respond to security issues arising from AI, it is necessary to develop not only security-specific models but also advanced frontier models."President Yoon Suk Yeol highlighted the importance of securing independent AI capabilities, noting that foreign AI services, such as Anthropic's Mithos, are beyond domestic control and could be restricted or blocked at any time.The president also urged for the strengthening of AI security systems, stating, "Security must be approached with the understanding that it can always be breached," and directed the establishment of a continuous assessment system that does not solely rely on companies' self-checks.In response, Baek mentioned that the current project for an independent AI foundation model is underway, with plans to incorporate additional security data to develop a security-specific model by the end of the year. However, he stressed that to fundamentally address security threats, there is a need for an advanced frontier model equipped with comprehensive reasoning and analytical capabilities beyond specialized models.President Yoon also instructed the creation of a system that can assess security vulnerabilities in a manner similar to actual attacks, without the consent of companies and public institutions.Choi Woo-hyuk, head of the Information Security Network Policy Division at the Ministry of Science and ICT, explained that they are currently assessing services from over 2,000 companies under the ministry's jurisdiction with their consent and are conducting pilot projects with ten private and public institutions.He added, "Under the current system, there is no legal basis to infiltrate systems without consent to check for vulnerabilities," and noted that after the pilot projects conclude, they are preparing related systems and legal foundations to allow for vulnerability assessments from the perspective of actual attackers without prior consent. 2026-07-16 11:00:00
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President Lee Calls for Strong Regulation of Misinformation President Lee Jae-myung emphasized the social costs associated with the misuse of false and misleading information during a meeting with the Broadcasting and Media Commission on July 16. He stated, "As a regulatory body, it is crucial that you perform your role effectively." During a work report held at the Blue House, which included the Ministry of Science and ICT, the Broadcasting and Media Commission, and the Personal Information Protection Commission, President Lee remarked, "While promoting broadcasting and telecommunications is important, preventing their misuse is an even more critical role." He specifically pointed out that misinformation can be exploited for personal gain, used as a political weapon, or incite social division and conflict. "The social costs resulting from conflicts driven by false information and misleading propaganda are significant," he noted. President Lee criticized the loss of rationality in public discourse, saying, "People become entrenched in their factions, fighting without regard for truth or reason. It becomes solely about personal interests." He urged the Broadcasting and Media Commission to establish certain norms and order, stating, "I hope you will work diligently to respond to and prevent illegal and misleading information." * This article has been translated by AI. 2026-07-16 10:56:00