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Lee Calls for Unity to Achieve 3% Potential Growth Rate and $50,000 Income President Lee Jae-myung urged his cabinet members to unite in making this year a pivotal one for South Korea, aiming for a potential growth rate of 3%, becoming a top four global trade nation, and achieving a national income of $50,000 (approximately 74.57 million won). During a State Council meeting at the Blue House on July 14, President Lee stated, "The outcomes we achieve in the second half of this year will determine the future of South Korea for the next 30 years." Specifically addressing the goal of becoming a top four trading nation, he noted, "Exports in the first half of this year have shown explosive growth, nearing $500 billion, with semiconductors leading the way and other exports increasing by 16% compared to last year." He emphasized that entering the ranks of the world's top four in trade is now an attainable goal. He added, "With remarkable export performance and increased capital investment, forecasts suggest that our real growth rate could reach 3% this year. We must focus on stabilizing prices and the real estate market, while nurturing super-gap and super-innovation growth engines to gradually raise our potential growth rate to 3%." President Lee stressed the need for the central and local governments, as well as businesses, to work together to expedite the realization of three key mega projects. He encouraged them to proceed with related procedures as quickly as possible, stating, "If we shorten a day now, we can gain ten days or even 100 days later." He also highlighted the importance of addressing structural issues in society, stating, "We must provide young people with a multi-layered growth ladder in terms of jobs, housing, assets, and skills development, while also accelerating innovation in public institutions regarding finances, regulations, and capabilities." Furthermore, he reiterated that the achievements made in the second half of this year will significantly influence South Korea's future for the next three decades. President Lee remarked that the prosperity of South Korea cannot be achieved solely through economic strength, referencing recent diplomatic successes at the NATO summit and his state visit to Mongolia. He noted, "New horizons for global cooperation in defense and advanced technology have opened, and we have made significant progress in securing critical mineral supply chains." He urged relevant ministries to ensure that these outcomes benefit the lives of citizens and the economy. He added, "For South Korea to achieve greater leaps and sustained growth, a more stable and peaceful global order must be supported. Although the global order is currently very unstable, our government will steadfastly fulfill its role and responsibilities as a responsible global nation based on practical diplomacy centered on national interests." As the third anniversary of the Osong underpass disaster approaches, he expressed, "Starting this year, North Chungcheong Province will actively hold memorial events. It is regrettable that it took three years for this natural course of action to occur." President Lee concluded by stating, "The state must always be thoroughly prepared for all disasters that threaten the lives and safety of its citizens. There can be no small gaps in protecting the lives of our people. When it comes to safety issues, it is better to be excessive than insufficient." * This article has been translated by AI. 2026-07-14 11:16:00 -
Hanyang Cyber University's Jeon Hye-jin Wins Best Paper Award for Popup Store Research Jeon Hye-jin, the head of the Hotel and Restaurant Management Department at Hanyang Cyber University, has demonstrated the global competitiveness of the field by winning the Best Paper Award at the Korean Hotel and Tourism Association's Spring International Academic Conference. Her paper focused on the impact of experiential marketing in popup stores on brand image and purchase intention. Jeon is also the founder of the GGCIA (Global Culinary Culture Industry Executive Program), the first executive program in South Korea for the culinary industry, which is currently recruiting its second cohort under the auspices of Hanyang Cyber University's lifelong education center.Popup Stores: Relationship with Brands is Key, Not Just Visual AppealJeon explained, "I began this research in light of the trend where offline stores are being redefined as spaces that provide brand experiences and foster relationships, rather than just shopping venues." Her study arose from the observation that while popup stores are rapidly increasing in the industry, there is a lack of empirical research demonstrating their effectiveness. She expressed curiosity about how these brief offline experiences influence consumer brand perception and purchasing behavior, leading her to conduct empirical research to clarify the effects of experiential marketing in popup stores. The results were somewhat surprising. Sensory elements such as decor, music, and scent did not significantly impact brand attitude formation as expected. Instead, cognitive factors, where consumers learn new information about the brand, and behavioral relationship factors, where they establish a special connection with the brand, were crucial in shaping brand image and attitudes. Jeon noted, "This suggests that we should focus not just on providing flashy and sensory experiences but on effectively conveying the brand's philosophy and values through experience design. For instance, when opening a popup restaurant, chefs should share their culinary philosophy and stories about ingredients in a storytelling format, while dining brands can create a brand history zone in the popup space to allow customers to experience the brand more deeply." She emphasized, "It is time for popup stores to evolve from merely creating 'Instagrammable' moments to becoming spaces that engrain brand identity through meaningful experiences." Reflecting on her achievement in a topic that has not been sufficiently researched in academia, Jeon expressed her satisfaction, stating, "Although popup stores have become a trend, their effectiveness was questioned. This research has empirically confirmed what types of experiences can lead to changes in consumer brand attitudes, and I am pleased that our department's research is recognized for reflecting industry trends and providing practical insights."Department Focused on Cultivating Practical TalentAs department head, Jeon emphasized her commitment to equipping students with the practical skills and entrepreneurial spirit demanded by the industry. She stated, "It is important to cultivate practical knowledge that can be immediately applied in the field, as well as the insight and execution skills to quickly catch new trends and connect them to business opportunities." To achieve this, the department operates industry-linked programs such as expert lectures, graduation projects, and restaurant startups, significantly enhancing practical courses in areas like menu development, restaurant entrepreneurship, and brand strategy. Recently, they have also prepared a converged curriculum on 'restaurant startup, location, and branding' in collaboration with related departments such as real estate and marketing. Jeon introduced her follow-up research, which includes studies comparing digital experiential marketing using metaverse, VR, and AR technologies with offline popup experiences, as well as research on user experience (UX) and continued usage intention of delivery apps in the restaurant O2O sector. She plans to continue building theoretical and practical foundations for innovation in the restaurant business through research that encompasses offline and online, traditional methods and new technologies.GGCIA: Cultivating Culinary Leaders Beyond KnowledgeThe GGCIA program, established by Jeon, is also gaining attention from academia and industry. It was conceived in response to the lack of educational programs for top executives in the culinary industry, especially as global interest in Korean cuisine and K-food rises. The program covers not only culinary practices and ingredient education but also global culinary trends, food tech, brand strategy, and customer experience design. Jeon noted, "The perspective of experiential marketing that I researched is also reflected in the GGCIA curriculum. We have designed a hands-on, experience-centered curriculum that includes field trips to culinary hotspots, meetings with chefs, and wine tastings." The first cohort of the program consisted of 12 sessions, including a three-night, four-day culinary culture exploration in Taiwan with Chef Lee Yeon-bok and Professor Yeo Jong-seok. Jeon remarked, "Through sharing insights and concerns, the bonds among participants have strengthened. Even after the program ended, they continue to explore local restaurants and food destinations together, supporting each other's businesses, fostering ongoing connections." This strong network is expected to serve as a source of new inspiration for participants and bring fresh ideas to the restaurant industry.Recruitment for GGCIA's Second Cohort UnderwayGGCIA is currently recruiting its second cohort, targeting decision-makers such as CEOs and executives looking to drive innovation in the culinary, restaurant, and distribution sectors. The second cohort will feature new instructors, including Professor Moon Jeong-hoon from Seoul National University and renowned chef Jo Hee-sook, along with Shin Tae-kyun, an advisor currently active at Galaxy Corporation and a former Samsung Talent Center member. The overseas culinary culture exploration destination has been set for Hong Kong, a crossroads of Eastern and Western food cultures. Jeon expressed her hopes that participants will explore Hong Kong's unique culinary ecosystem, experience the forefront of Asian restaurant business, and gain insights for entering the global market. When asked about the skills needed for culinary business leaders in the context of the K-food expansion, Jeon stated, "As K-food spreads globally through dramas and entertainment, it is now essential to go beyond just creating delicious food to 'contentualizing flavor.' This includes storytelling about the food, planning food culture content, and developing marketing capabilities to brand it in the global market." She added, "GGCIA focuses on cultivating culinary business leaders with a discerning eye as 'culture creators' who can learn the value and modern interpretation of Korean cuisine from experts like Chef Jo Hee-sook and Professor Moon Jeong-hoon, experience the spectrum of Asian culinary culture through the Hong Kong exploration, and gain comprehensive skills including global branding know-how from advisor Shin Tae-kyun."Korean Cuisine as Cultural Content: Leadership in Culinary Culture CreationJeon highlighted the recent special exhibition 'Our Table' at the National Museum of Korea, which comprehensively examines food culture, as evidence that Korean cuisine is being recognized as content that embodies our culture and spirit, rather than just food. She stated, "For culinary business leaders, maximizing the inherent taste and quality of food is crucial, but it is equally important to differentiate the brand experience by incorporating our unique cultural codes and storytelling. GGCIA is focused on nurturing culinary business leaders with this perspective as 'culture creators.'" 2026-07-14 11:16:00 -
Hong Gi-won Proposes Bill Allowing Limited Prosecutorial Investigative Powers Hong Gi-won, a lawmaker from the Democratic Party, introduced a bill on July 14 that would allow prosecutors to conduct supplementary investigations in exceptional circumstances. He stated, "We need to discuss how to better protect the public," adding that the bill would serve as a minimal safety measure for citizens. This comes as voices within the party call for a complete abolition of supplementary investigative powers, highlighting the need for a limited approach.During a press conference at the National Assembly, Hong emphasized, "Our goal for prosecutorial reform is to create a system that protects citizens' rights and safety, ensuring that victims are not unjustly treated." The proposed amendment permits supplementary investigations by prosecutors in cases of sexual violence, stalking, abuse of children, the elderly, and disabled individuals, as well as crimes affecting vulnerable populations, such as voice phishing and similar offenses. It also allows for supplementary investigations in cases involving arrests, those nearing the statute of limitations, and minor offenses.To prevent the abuse of supplementary investigative powers, the bill strictly applies the principle of identity to ensure that such investigations do not lead to unrelated inquiries. Additionally, if compulsory measures are needed during a supplementary investigation, approval from the local prosecutor's office chief is required. The bill has been co-sponsored by 11 lawmakers, including Hong, Ko Min-jeong, Kwak Sang-eon, Kim Nam-hee, Moon Jin-seok, Mo Kyung-jong, Min Hong-cheol, Park Kyun-taek, Park Hee-seung, Lee So-young, and Joo Cheol-hyun.Previously, Hong reportedly sent letters to party members to persuade them regarding the bill. In these letters, he questioned, "If even one unjust victim arises from a complete ban on supplementary investigations, can we truly call it a successful reform?" He stressed the need to design the system based on citizens' rights rather than prosecutorial authority.Recently, the Democratic Party has been pushing for a swift abolition of supplementary investigative powers. However, there is growing caution and opposition regarding this move, with concerns that abolishing the system could create gaps in uncovering the truth in cases of sexual crimes and offenses against vulnerable groups such as children and the elderly. Nonetheless, the hardline stance within the party for complete abolition remains firm, and further discussions are expected at the lawmakers' meeting scheduled for later today. 2026-07-14 11:08:00 -
Discussion on Corporate Responsibility Management in the Age of AI and Supply Chains The government has initiated discussions on corporate responsibility management in response to the spread of artificial intelligence (AI) and the restructuring of global supply chains. As managing human rights, labor, and environmental risks has emerged as a key factor for sustainable growth and international market entry, the aim is to share relevant standards and case studies between the public and private sectors.On July 14, the Ministry of Trade, Industry and Energy held the '2026 Public-Private Joint Seminar on Corporate Responsibility Management' in collaboration with the National Human Rights Commission and the UN Global Compact Network Korea.Corporate responsibility management refers to responsible business practices across the economy and society, including human rights, labor, and environmental considerations, in accordance with the OECD Guidelines for Multinational Enterprises. Established in 1976, these guidelines aim to minimize the negative impacts of multinational corporate activities on human rights, labor, and the environment while promoting responsible business management.This seminar was organized to mark the 50th anniversary of the OECD Guidelines for Multinational Enterprises. It aims to reflect on the significance of these guidelines, which have become an international standard for corporate responsibility management over the past five decades, and to enhance the capacity of Korean companies to respond in the age of AI and supply chains.Topics discussed at the seminar included responsible AI usage, managing human rights and labor risks in critical mineral supply chains, support policies for human rights management in companies expanding overseas, and examples of corporate AI governance. Notably, since the OECD's AI Due Diligence Guidance was released in February, responsible AI usage and internal governance have been key agenda items.Korea has established a National Contact Point (NCP) to support the implementation and dissemination of the OECD Guidelines. Set up in 2001 within the Ministry of Trade, Industry and Energy, the Korean NCP is responsible for promoting and educating about the guidelines, handling complaints, and participating in OECD and global NCP network activities. Since its establishment, it has received a total of 40 cases, of which 12 have gone through mediation procedures.Corporate responsibility management requires systematic oversight rather than merely declarative ESG activities. As the EU's supply chain due diligence guidelines, critical mineral regulations, and AI ethical standards gain traction, companies face expanding human rights, labor, and environmental risks associated with their suppliers and overseas operations. This can directly impact exports, investments, and business relationships.With the rapid spread of AI usage, issues such as algorithmic bias, data privacy, labor surveillance, and accountability have emerged as new challenges in corporate responsibility management. Companies must not only accelerate the adoption of technology but also establish principles for responsible use and internal control systems.Kang Gam-chan, Director of the Trade and Investment Bureau at the Ministry of Trade, Industry and Energy, stated, "The Korean NCP will continue to expand education and promotion to ensure that the OECD Guidelines for Corporate Responsibility Management are firmly established in our companies. We will also strengthen support for dispute resolution related to the implementation of the guidelines."* This article has been translated by AI. 2026-07-14 11:04:00 -
Samsung Reclaims Smartphone Market Leadership, Capturing 24% Share in Q2 Samsung Electronics has regained its position as the leader in the global smartphone market for the second quarter of this year. Analysts attribute this resurgence to a tailored pricing strategy aimed at emerging markets and the successful launch of flagship products.According to preliminary estimates released on July 14 by market research firm Counterpoint Research, Samsung achieved a global smartphone market share of 24%, reclaiming the top spot after falling to second place with a 20% share in the first quarter, where it was surpassed by Apple at 21%.The recovery is believed to be driven by customized sales and pricing strategies targeting emerging markets such as India and the Middle East. Strong sales of the recently launched Galaxy S26 series also contributed to the positive results. Notably, the Galaxy S26 Ultra, which prominently features artificial intelligence (AI) capabilities and a privacy display, has received a strong market response.In contrast, Apple, which has slipped to second place, reported a 3% increase in shipments compared to the same period last year, achieving a market share of 20%. Amid a general trend of price increases across the industry, Apple maintained its launch prices and saw robust demand for the iPhone 17 series, allowing it to continue its growth trajectory.Meanwhile, the overall global smartphone market size for the second quarter has significantly contracted due to supply chain disruptions. Global smartphone shipments fell by 11% compared to the same period last year, marking the lowest level in 13 years since 2013.Counterpoint Research noted, "The surge in AI data center demand has exacerbated shortages of key memory semiconductors such as DRAM and NAND flash, leading to increased component prices that have burdened smartphone manufacturing costs and dampened overall consumer sentiment in the market."* This article has been translated by AI. 2026-07-14 11:04:00 -
KOTRA Launches Initiative to Boost Global Competitiveness of Social Economy Enterprises The Korea Trade-Investment Promotion Agency (KOTRA) announced on July 14 that it is launching the 'Global Leap Project for Social Economy Enterprises' to support their overseas expansion and growth.This initiative follows the recent government announcement of the 'Comprehensive Plan for the Development of Social Solidarity Economy.' KOTRA plans to operate various programs throughout the year to help social economy enterprises secure self-sufficiency and achieve substantial quantitative and qualitative growth.The Global Leap Project will focus on four key areas: export marketing, startup and investment attraction, ESG management, and attracting domestic and international talent. Additionally, it will operate as an integrated support system linked with KOTRA's social solidarity economy projects and collaborations with relevant organizations.KOTRA aims to support companies' global expansion by combining existing overseas support programs with new package offerings and preferential services for international ventures.In collaboration with the Korea Social Enterprise Promotion Agency, KOTRA will also implement a step-up program for social enterprises and a project to measure social value indicators. Companies that receive 'excellent' or 'outstanding' ratings in SVI measurement will be granted advantages in the selection of certain programs.Kang Kyung-seong, President of KOTRA, stated, "For social economy enterprises to find opportunities beyond the domestic market and achieve sustainable growth, mutual growth across the entire ecosystem is essential. We will strengthen collaboration with relevant organizations and provide tailored support to actively assist the global leap of social economy enterprises." 2026-07-14 11:04:00 -
Lotte Department Store Launches Pop-Up Featuring Star Chefs from TV Show Lotte Department Store is set to showcase culinary offerings from star chefs featured on television. Starting July 17, a relay pop-up store will operate in the food court on the basement level of the Jamsil location, featuring signature dishes from chefs who appeared on the tvN program 'Street Restaurant Fighter' until September 17.The first pop-up will be led by Chef Jo Seo-hyung from the Korean omakase restaurant 'Euljiro Jewel.' He will present his popular dish, 'Sticky Rice Nurungji Kimchi Cheese Chicken,' from July 17 to 23. On weekends, Chef Jo will also meet with customers at the store.Following Chef Jo, a total of six chefs, including Chef Kim Ho-yoon and renowned Busan chef Kwon Dong-hoon, will sequentially introduce popular menu items from the show, covering Korean, Chinese, and Western cuisines. Lotte Department Store aims to transform the Jamsil food court into a hub for gourmet experiences to attract more customers.Additionally, customer participation events will be held. After visiting the pop-up store, customers can post their taste evaluations on YouTube Shorts or Instagram Reels with the hashtags '#StreetFighterPopUp' and '#IAmTheJudge.' Outstanding participants will receive shopping vouchers worth 300,000 won from Lotte Department Store. Furthermore, 20 individuals who write creative reviews will be awarded a three-month subscription to Tving.Recently, the department store industry has been enhancing experiential content to boost offline competitiveness. By introducing popular intellectual property (IP) pop-ups, exhibitions, and gourmet content, they are expanding strategies to increase customer dwell time, with collaborations with famous chefs and differentiation in food courts becoming key attractions.Park Sang-woo, head of marketing at Lotte Department Store, stated, “We plan to continue offering differentiated experiential content that goes beyond shopping, allowing customers to see, taste, and enjoy, thereby strengthening the competitiveness unique to department stores.”* This article has been translated by AI. 2026-07-14 11:00:00 -
Chinese Premier Invites Pang Donglai to Discuss Employment, Consumption, and Services Li Qiang, Premier of the State Council of China, hosted an economic forum on July 13 that included Pang Donglai, chairman of the Chinese retail company Pang Donglai, drawing significant attention.This forum, typically held ahead of the Central Politburo meeting at the end of July, serves to review economic policy directions for the second half of the year and gather on-the-ground opinions. The list of attendees is seen as a signal of the Chinese leadership's economic policy priorities.According to the People's Daily, the forum included prominent business figures such as Pang Donglai, Hou Qijun, chairman of Sinopec, Wang Zhijian, chairman of Shandong Heavy Industry Group, and Li Jun, president of Zhongke Shuguang (AI servers). Experts present included Huang Hanquan, director of the China Macroeconomic Research Institute, Yang Ziyong, director of the China Financial Science Research Institute, Wang Wen, director of the Renmin University Zhongyang Financial Research Institute, and Zhang Jun, chief economist at China Securities.Pang Donglai was particularly noteworthy among the attendees. Traditionally, such economic forums have featured leaders from big tech and manufacturing sectors, making the inclusion of a retail executive a rare occurrence.Pang Donglai, a local retail company in Henan Province, is known for its strong employee welfare and job stability, earning the reputation of being 'the happiest company for employees' in China. The company avoids excessive overtime and offers compensation above industry averages, while also being recognized for its customer-centric service, making it a leading success story in the Chinese retail sector. Many retail companies in China seek advice from Pang Donglai or benchmark their practices against the 'Pang Donglai model.'The Chinese government has also highlighted Pang Donglai as a representative case of innovation in the retail sector. On July 9, following the release of opinions on accelerating the innovative development of the retail industry by nine ministries, officials emphasized the need to actively benchmark Pang Donglai's experiences to enhance product and service quality and strengthen supply chain management.Pang's participation in this forum reflects the Chinese leadership's view that, amid economic slowdown, strengthening the competitiveness of the service sector, creating quality jobs, and boosting consumption are crucial for economic management in the second half of the year.During the forum, Premier Li Qiang stated, 'We must systematically implement policies that unleash domestic consumption potential in the second half of the year, thoroughly promote policies for expanding and improving the service sector, increase the supply of high-quality services, and foster new growth drivers for consumption.' He also expressed hope that entrepreneurs would enhance their confidence in economic development and contribute more significantly to job stability and growth. 2026-07-14 11:00:00 -
Korea Kolmar Donates 37 Million Won to Support Youth Preparing for Independence Korea Kolmar continues its support for youth preparing for independence, helping them transition into stable social lives. On July 13, Korea Kolmar announced that it donated 37 million won to the social enterprise Soyf Studio through the Band Foundation to support youth preparing for independence. The donation ceremony was attended by key figures, including Choi Hyun-kyu, CEO of Korea Kolmar, Go Dae-hyun, CEO of Soyf Studio, and Ha Jung-eun, Chairperson of the Band Foundation. Youth preparing for independence refers to those who begin living independently after leaving child care facilities or foster homes at the age of 18. Recently, there has been growing recognition in the business community of the economic and psychological isolation these youths face, leading to the expansion of programs that provide practical support, such as job placement and vocational training, beyond one-time donations. In line with this trend, Korea Kolmar has been providing tailored support for the past five years, starting in 2022. To date, the company has awarded scholarships to 54 youth preparing for independence and offered opportunities to participate in the design academy at Soyf Studio for those interested in the cosmetics industry. Youth who have gained practical skills through this training have also participated in the development project for Korea Kolmar's cosmetic product, Hydra Sun Serum. Notably, a separate scholarship was awarded to the young designer responsible for the product's design, and the completed product will be used in promotional activities for the support program for youth preparing for independence. A representative from Korea Kolmar stated, "We decided to continue our support this year to help youth taking their first steps into society settle down stably. We will expand various forms of support for youth preparing for independence in the future."* This article has been translated by AI. 2026-07-14 10:56:00 -
Samsung Electronics Wins Eight Awards at Red Dot Design Award 2026 Samsung Electronics has won a total of eight awards, including two top honors, at the 2026 Red Dot Design Award in the design concept category. According to industry sources on July 14, Samsung was recognized for its ability to understand user situations and preferences through artificial intelligence (AI), showcasing the direction of future lifestyles. The top award, Best of the Best, was awarded to the 'Home Appliance Consumables Concept Design' and the next-generation kids robot 'Drimo and Minimo.' The Red Dot Design Award is one of the world's three major design awards, organized by the Design Center of North Rhine-Westphalia in Germany. The Home Appliance Consumables Concept Design was designed to intuitively convey management methods through color coding. Permanent parts are marked in gray, recyclable parts in green, and general waste in brown, allowing for disposal without additional explanation. Following the Gold Award at the IDEA 2024 and the Gold Award at the iF Design Award 2026, this latest Red Dot top honor marks a clean sweep of the world's three major design awards. Another award-winning project, Drimo and Minimo, is a kids robot concept that utilizes AI to provide personalized experiences tailored to a child's interests and growth stages. The home robot 'Drimo' and the portable 'Minimo' work together to support children as they interact with characters created by generative AI. Six design concepts aimed at enhancing quality of life through AI technology also received awards. These include the 'AI Beauty Mirror,' which analyzes skin conditions to suggest personalized care; the 'Panorama UX,' which optimizes screen interaction based on context; and the 'AI Kitchen,' which assists with ingredient management, cooking, and cleaning. Additionally, the 'Spatial Tab,' an interactive platform based on glasses-free 3D, the empathetic AI home companion 'PUCO,' and the 'Fluid AI Design System,' which generates customized interfaces, also received awards. Mauro Porcini, Chief Design Officer of Samsung Electronics' DX Division, stated, "As technology advances, understanding people deeply becomes increasingly important. We will continue to create natural and meaningful experiences based on sensory designs that reflect individual diversity."* This article has been translated by AI. 2026-07-14 10:52:00


