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  • KIC China Launches K-Maker Day to Foster AI and Startup Talent
    KIC China Launches 'K-Maker Day' to Foster AI and Startup Talent The Global Innovation Center (KIC China) and the Korean Association of Scientists and Engineers in China have jointly launched the 2026 Summer Startup Intensive Program, 'K-Maker Day,' which began on July 14 and will run for four days.This program aims to enhance entrepreneurial skills in future industries such as artificial intelligence (AI), advanced manufacturing, and new energy by providing participants with direct experience in China's science and technology innovation ecosystem. A total of 20 Korean students from major Chinese universities, including Peking University, Tsinghua University, Fudan University, and Renmin University, were selected to participate.The training combines expert lectures with company visits. On the first day, KIC China Center Director Kim Jong-moon delivered a keynote speech on the current status and prospects of Korea-China scientific and technological cooperation, followed by a sharing session where local Korean entrepreneurs discussed their startup experiences and experts presented strategies for the development of China's AI and robotics industries.On July 15, participants will visit the Zhongguancun National Independent Innovation Demonstration Zone, AI company SenseTime, the China New Energy Vehicle Technology Innovation Center, and JD Group to examine China's advanced industrial policies and technological innovations.On July 16, they will engage in discussions with local startups at the Zhongguancun International Incubator, visit a bio-industrial complex, and tour the autonomous logistics company Neolix to gain firsthand experience of the startup ecosystem and industry landscape. The final day will feature a presentation by a Tencent AI expert on the development of AI technology in China and its industrial applications.KIC China emphasized that this training is not merely an industrial tour but a program focused on enhancing capabilities for entering the Chinese market and fostering technological entrepreneurship. Experts in key industries such as AI, new energy, smart logistics, and biotechnology will share insights on startup policies, localization strategies, and practical investment attraction methods to strengthen practical entrepreneurial skills.Kim Jong-moon stated, 'K-Maker Day is designed to cultivate key talent in the fields of advanced science and technology startups and Korea-China scientific and technological cooperation.' He added, 'We will continue to discover startups with competitive advantages in the Chinese market and expand our collaborative platform to support joint research and development (R&D) and technology exchange between Korea and China.'* This article has been translated by AI. 2026-07-14 16:48:00
  • President Lees Apartment Sale in Bundang Nears Completion
    President Lee's Apartment Sale in Bundang Nears Completion President Lee Jae-myung and his wife are in the final stages of selling their apartment in Bundang, Seongnam, Gyeonggi Province. A key official from the Blue House stated on July 14, "I understand that the sale contract for the apartment will be completed soon," adding that all legal procedures, including land transaction approval, have already been finalized. President Lee listed the 164-square-meter apartment in the Kumho 1 Complex in Yangji Village, Bundang, for sale in February. During a Cabinet meeting on the same day, while discussing opinions on real estate tax policy, he remarked, "I no longer have a house," directly referencing the sale. Previously, President Lee had stated on X (formerly Twitter), "As the person responsible for real estate policy, I chose to sell the house to fulfill my duties as a public official rather than allow it to become a political target." He expressed that it was the home where he raised his children and spent his youth, describing it as a place of deep affection, but emphasized the importance of setting an example as a responsible public servant by selling it.* This article has been translated by AI. 2026-07-14 16:48:00
  • Ho Chi Minh City Financial Center Positions South Korea as Key Partner in Green Finance and Fintech
    Ho Chi Minh City Financial Center Positions South Korea as Key Partner in Green Finance and Fintech Vietnam and South Korea are expanding their cooperation from manufacturing and trade to finance, digital technology, and green finance. The Ho Chi Minh City International Financial Center (VIFC-HCMC) has identified South Korean financial institutions and tech companies as key partners, with capital procurement, payment network integration, fintech, workforce training, and green project investment emerging as major agenda items.On July 13, local media, including Saigon Liberation Newspaper, reported that the VIFC-HCMC and the Consulate General of the Republic of Korea in Ho Chi Minh City held a Vietnam-South Korea Financial Cooperation Forum to discuss long-term collaboration. The forum emphasized that the relationship between the two countries is evolving beyond manufacturing and trade to encompass finance, technology, workforce, and supply chain connections.Kwon Tae-han, Deputy Consul General of the Republic of Korea in Ho Chi Minh City, noted the significance of discussing cooperation directions among experts at the official launch of the VIFC-HCMC. He highlighted the notable economic achievements between Vietnam and South Korea since the establishment of diplomatic relations in 1992 and explained that they are advancing to a deeper level of financial cooperation based on their comprehensive strategic partnership.Nguyen Huu Huan, Deputy Director of VIFC-HCMC, stated, "VIFC-HCMC is not just a space for gathering financial institutions; it aims to connect international capital, technology, and talent while testing new financial models in a controlled manner and directly supporting businesses and real economy projects."The VIFC-HCMC focuses on asset management, investment funds, international capital markets, bond markets, green finance, digital finance, fintech, cross-border payments, aviation finance, and maritime finance. It also plans to develop support services such as credit rating, accounting, legal consulting, arbitration, education, and research to establish Ho Chi Minh City as a major financial hub in ASEAN.Huan added, "The goal is to create a gateway that more effectively connects international capital with Vietnam's development needs while making Ho Chi Minh City an important financial intermediary in ASEAN." He described South Korea as a crucial partner with a developed capital market, modern banking system, high technological capabilities, and experience in establishing financial centers in Seoul, Busan, and Incheon.South Korea-Vietnam Financial CooperationThe financial cooperation tasks proposed by VIFC-HCMC are organized into five areas. The center first suggested expanding participation from South Korean banks, securities firms, asset management companies, and institutional investors. It also identified the development of international currency-based funding channels for Vietnamese companies and infrastructure projects as a key area of collaboration.Additionally, both sides discussed connecting payment systems and expanding cross-border QR payments, remittances, trade finance, and corporate cash flow management. The scope of cooperation also includes fintech, artificial intelligence in finance, big data, digital identity verification, anti-money laundering, and sandbox model development. Workforce training was addressed as a separate task, with VIFC-HCMC aiming to cultivate advanced financial talent through educational programs, expert exchanges, and joint research by connecting universities, research institutions, and professional organizations in Vietnam and South Korea.In the green finance sector, the synergy between South Korea's technological capabilities and Vietnam's funding needs was highlighted. South Korea excels in clean technology, renewable energy, batteries, smart transportation, and digital infrastructure, while Vietnam requires substantial capital to implement energy transition and achieve net-zero emissions goals.VIFC-HCMC sees itself as a platform that can support the structuring, evaluation, acquisition, distribution, and trading of green finance products. This approach aims to connect South Korean capital with high-quality projects in Vietnam and utilize green bonds, sustainable bonds, investment funds, and project finance structures as collaboration tools.Lee Yong-jik, head of the Korea-ASEAN Financial Cooperation Center, stated, "Vietnam's recent development speed is closely linked to the timely execution of fiscal policies," adding that South Korean investors are deeply impressed by Vietnam's continuous economic growth, strong export base, and stable ability to attract foreign direct investment. He noted that Vietnam is emerging as a strategic platform in the global supply chain, particularly in semiconductors and digital transformation, beyond being a manufacturing base for investment relocation. He anticipates that more South Korean companies will invest in Vietnam, and Vietnamese firms will engage more deeply in the global supply chain.Deputy Consul General Kwon remarked, "Vietnam is a dynamically growing economy with a very high capacity for adopting digital technologies," emphasizing that finance is a key foundation for corporate growth and that the combination of finance and digital technology will create strong synergies that provide convenient services to the public.Furthermore, the South Korean side expressed its commitment to continue working with Vietnamese authorities and businesses to translate policy commitments into concrete cooperation projects. VIFC-HCMC also stated it is ready to serve as a central hub connecting relevant institutions, receiving product proposals, coordinating pilot projects, and supporting investors.Meanwhile, discussions on financial cooperation between Vietnam and South Korea are expanding from existing investment and trade relations to include digital finance, green finance, international capital procurement, and workforce training. VIFC-HCMC is expected to play a prominent role in connecting South Korean financial institutions and tech companies with Vietnam's development needs in this process.* This article has been translated by AI. 2026-07-14 16:48:00
  • Stricter delisting rules rattle KOSDAQ-listed companies
    Stricter delisting rules rattle KOSDAQ-listed companies SEOUL, July 14 (AJP) - South Korea's tougher delisting rules are starting to shake up the stock market sooner than expected. Less than two weeks after the new delisting regulations took effect on the South Korean bourse earlier this month, several companies listed on the junior KOSDAQ have already been flagged as at risk of being placed on the Korea Exchange's watchlist. Under the regulations, which took effect July 1, companies whose market capitalization remains below 20 billion won (US$14.5 million) for 30 consecutive trading days must first issue a warning disclosure before they can be placed on the watchlist. As of Monday, nine companies had issued such warnings, with five of them already placed on the watchlist. To remain listed, those companies must keep their market capitalization above the threshold for at least 45 consecutive sessions within a window of 90 trading days. The regulations also strengthen monitoring of so-called "penny stocks," with companies whose shares close below 1,000 won for 30 consecutive sessions being placed on the watchlist. Many smaller companies are scrambling to remain listed under the tougher measures, with some turning to share buybacks, private placements and stake sales to boost their market values. Those efforts, however, have only fueled heightened volatility. Shares of KOSDAQ-listed electronics company Wellkeeps Hitech surged 71 percent over the past three sessions after it disclosed the risk of being placed on the watchlist, briefly pushing its market capitalization above 20 billion won last Friday. Its short-lived gains faded, with shares down 9.8 percent at 1,191 won as of early Tuesday afternoon. Anxiety has also spread to online forums for investors. On one online board on Naver, the country's largest portal, dedicated to the company, one user questioned whether the company had much of a business at all, leaving a post that read, "What does this company even do?" Another urged it to "learn from Hansung Enterprise," referring to the seafood company whose shares previously surged after retail investors piled in to help lift its market capitalization and save it from delisting. Gold&S, an education services company, also showed a similar pattern. After an initial rally following its disclosure, the stock fell for five straight trading sessions and was trading down 14.4 percent at 1,239 won as of early Tuesday afternoon. The sharp swings reflect a split between investors betting on a recovery and those avoiding stocks at risk of delisting. As delisting fears grow, shareholders of smaller listed companies are increasingly seeking advice from major law firms on measures such as reverse stock splits, capital reductions, potential lawsuits and ways to avoid legal disputes during delisting. Frustration among retail investors is also growing. Some blame companies for deteriorating to the brink of delisting, while others argue regulators introduced the stricter regulations too abruptly, leaving companies with little time to adjust. Debates have now moved beyond stock markets and online forums, with retail investors turning to the National Assembly’s petition platform to voice opposition to recent capital market reforms. A petition opposing tougher delisting rules had drawn nearly 3,000 signatures as of Tuesday, while another criticizing single-stock leveraged exchange-traded funds had gathered more than 31,000 signatures. They argue that shrinking liquidity and the abrupt implementation of stricter regulatory measures, which are intended to improve market health by weeding out vulnerable companies, are putting excessive pressure on smaller firms. 2026-07-14 16:41:01
  • Shareholders Have No Rights to Corporate Profits, Controversial Statement at Excess Profit Forum
    Shareholders Have No Rights to Corporate Profits, Controversial Statement at Excess Profit Forum Controversial remarks made during a government-hosted forum discussing the distribution of excess profits in the semiconductor industry have quickly sparked debate.On July 14, a forum titled "A New Path for Social Innovation in Line with AI Technological Innovation" was held at Peace and Park in Yongsan, Seoul.This forum was organized to expand discussions on excess profit distribution, initially triggered by the controversy surrounding Samsung Electronics' performance bonuses. The government explained that the purpose was to discuss how to share the excess profits generated during the transition of the semiconductor and AI industries with workers, partner companies, and society as a whole. Topics included the concept of excess profits, an N% performance bonus system, wage disparities between primary and subcontractors, and methods for sharing social benefits.During the forum, a representative from the Korean Confederation of Trade Unions stated, "I believe shareholders do not have ownership rights to corporate profits," adding that "dividends are merely a procedurally defined right." This statement shocked many and emerged during discussions about shareholder rights and profit distribution structures.Viewers watching the forum live immediately criticized the remarks. Comments included, "If you want to eat profits, buy stocks," "Are you going to interfere with jobs too?" and "Why is there only notification without opposing opinions?" Others expressed disbelief, stating, "Jobs depend on individual abilities; this is absurd," and "You should distribute your salaries too."The statement quickly spread across various online communities. In conservative forums frequented by those in their 20s and 30s, reactions included, "The most shocking part was the claim that shareholders have no rights to profits," and "Why call it a discussion forum when it’s just a scripted presentation?" Many noted the lack of opposing views, with officials and judges seated right in front.Progressive forums also echoed criticism. Posts capturing the union representative's statement quickly gained traction, with reactions like, "Shareholders have no rights to profits?" Users questioned, "Do they not understand the meaning of a joint-stock company?" and "Is everyone receiving basic education?" Some even compared the remarks to those of the Chinese Communist Party, stating, "This is worse than communism; it’s almost at the level of North Korea's Kim Jong-un."Other users suggested, "It seems we need to disband the Korean Confederation of Trade Unions," and called for the president and lawmakers' salaries to be subject to excess profit recovery based on minimum wage standards. Comments included, "It feels like they are just repeating 'do it' without understanding economic principles," and "Why should profits be shared with someone who isn’t even a shareholder?" Many expressed their disillusionment with the Democratic Party, stating, "I will not support the Democratic Party in my future," and urged, "Ministers and professors should also share their salaries and bonuses with students and staff."However, it remains uncertain whether the remarks made during the forum will lead to actual policy changes. The government plans to gather opinions from labor, academia, and experts following this forum to consider potential institutional improvements.* This article has been translated by AI. 2026-07-14 16:40:00
  • Government Seeks Public Input on Real Estate Policy Reform
    Government Seeks Public Input on Real Estate Policy Reform The government is initiating a public consultation process ahead of reforms to its real estate policy. It will hold discussions on housing supply, regulations, finance, and taxation, along with an online feedback platform.On July 14, the government announced that it will host a series of discussions from July 14 to July 16 focused on housing supply, housing finance, and the real estate tax system to develop a policy that resonates with the public.The Ministry of Economy and Finance, the Ministry of Land, Infrastructure and Transport, and the Financial Services Commission will jointly kick off the discussions on July 14 with a session on housing supply and regulations, followed by a session on housing finance on July 15, and a discussion on the real estate tax system on July 16.Ministers from each department and experts will participate in the discussions. After expert presentations, attendees will be encouraged to share their experiences, challenges, suggestions for system improvements, and opinions for or against policies. The entire process will be broadcast live.To accommodate those unable to attend in person, the government has set up an online feedback platform. Starting July 14, 'realestatediscussion.kr' will be available for the public to submit their opinions on the three areas: housing supply and regulations, housing finance, and the real estate tax system.Key topics for discussion will include the rationalization of regulations on private redevelopment and reconstruction, the utilization of idle urban land such as the Yongsan International Business District, adjustments to financial and tax regulations for non-apartment new construction, modifications to loan regulations for first-time buyers and young people, and the expansion of policy loans.In the tax area, discussions will cover appropriate levels of property tax, criteria for comprehensive real estate tax assessment, differential taxation for actual residents, non-residents, and multiple homeowners, strengthening taxation on high-value properties, reforming long-term holding special deductions, and restructuring the multiple homeowner tax system.The government plans to compile the main opinions raised during the discussions and online feedback for a major real estate forum chaired by the President on July 23.* This article has been translated by AI. 2026-07-14 16:36:00
  • Woori Bank Reappointed as Foreign Currency Custodian for National Pension Service
    Woori Bank Reappointed as Foreign Currency Custodian for National Pension Service Woori Bank has successfully been reappointed as the foreign currency custodian for the National Pension Service (NPS), reaffirming its competitiveness in the domestic foreign exchange market.On July 14, Woori Bank announced that it signed a 'Foreign Currency Custodian Service Agreement and Service Level Agreement (SLA)' with the NPS. This contract was finalized after Woori Bank was selected as the final contractor in the foreign currency custodian bidding conducted by the NPS in March.Woori Bank was initially appointed as the foreign currency custodian in August 2021 and has maintained its partnership with the NPS through this reappointment.Under this contract, Woori Bank will handle key foreign currency custodian tasks for the NPS from August until July 2029, including foreign currency disbursement, foreign currency account management, foreign exchange transaction support, fund settlement, and foreign currency fund management. Following performance evaluations, the contract may be extended for up to two additional years on an annual basis.As of the end of April this year, the NPS's fund reserves amounted to approximately 1,670 trillion won, with 55.7% of that invested overseas. Woori Bank aims to enhance the NPS's overseas investment competitiveness through its extensive foreign exchange experience and global network.Woori Bank CEO Jeong Jin-wan stated, "This is a meaningful outcome based on the long-standing trust and cooperation between the NPS and Woori Bank. We will serve as a reliable financial partner supporting the NPS's global asset management, ensuring the safety and growth of the public's valuable retirement funds."* This article has been translated by AI. 2026-07-14 16:36:00
  • Reconstruction Projects in Seoul Solidify Major Construction Firms Dominance
    Reconstruction Projects in Seoul Solidify Major Construction Firms' Dominance In the second half of the year, the selection of construction companies for key reconstruction projects in Seoul's Apyeomokseong area (Apgujeong, Yeouido, Mokdong, Seongsu) is gaining momentum. Major construction firms are beginning to reveal their bidding strategies as significant projects like the Seongsu 2 District, Yeouido Shibum Apartments, and Mokdong 12 and 14 complexes enter the bidding process.According to the construction industry on the 14th, recent single bids for major projects such as the Yeouido Gwangjang Apartments 38-1 reconstruction (Hyundai Engineering & Construction), Mokhwa Apartments reconstruction (Samsung C&T), Mokdong 6 complex reconstruction (DL E&C), and Seongsu 3 District redevelopment (Samsung C&T) have resulted in repeated failures.With instances of only one major construction firm participating in the bidding process leading to negotiated contracts on the rise, industry experts suggest that leading construction companies are effectively establishing their dominance in specific project sites.In Yeouido, Samsung C&T and Hyundai Engineering & Construction are essentially dividing the key projects between them. Samsung C&T secured the construction rights for the Daegyo Apartments reconstruction, while Hyundai Engineering & Construction won the contract for the Hanyang Apartments.Currently, the Yeouido Gwangjang Apartments 38-1 reconstruction is expected to be automatically rejected as Hyundai Engineering & Construction is the only firm attending the second site briefing. The association plans to convert to a negotiated contract and select Hyundai Engineering & Construction as the preferred bidder, with a general meeting for construction company selection scheduled for September.Conversely, the Mokhwa Apartments faced a failed bid on the 9th, with only Samsung C&T participating. There are discussions about a potential re-bid leading to a negotiated contract.At the largest project site in Yeouido, the Shibum Apartments, both Samsung C&T and Hyundai Engineering & Construction are reportedly the most actively considering the project, solidifying a competitive landscape between the two companies.In the Seongsu Strategic Maintenance Zone, more than half of the outcomes have been determined. GS Engineering & Construction has been selected as the contractor for District 1, adopting the 'Xi' brand, while Lotte Engineering & Construction secured the construction rights for District 4 after competing with Daewoo Engineering & Construction, applying the 'Leel' brand.The remaining project sites are Districts 2 and 3. District 3 is currently undergoing re-bid procedures after Samsung C&T participated alone in the first bid. The only real competition appears to be in District 2, where DL E&C and IPARK Hyundai Industrial Development are expected to compete. DL E&C has expressed a strong willingness to secure contracts, and IPARK Hyundai Industrial Development is also reportedly evaluating the project's viability.In Mokdong, while the pace varies by complex, the competitive landscape among construction firms is gradually becoming clearer. Earlier, DL E&C secured the construction rights for Mokdong 6 complex in June, marking its entry as the first contractor in Mokdong.GS Engineering & Construction is considered the most likely candidate for Mokdong 12 complex, which will hold a site briefing on the 15th. It is highly probable that this will lead to a negotiated contract following a single bid.Mokdong 14 complex is one of the few sites where competition between DL E&C and Daewoo Engineering & Construction is anticipated. Additionally, Samsung C&T is reportedly continuing discussions with the association regarding Mokdong 13 complex.Among the major project sites in Apyeomokseong, the only areas expected to see actual competition are Seongsu 2 District and Mokdong 14 complex. The remaining projects have either been effectively resolved with single candidates or are dominated by specific construction firms. Industry experts suggest that as major construction firms establish their foothold first, it becomes increasingly difficult for latecomers to enter, leading to a restructuring of the bidding landscape centered around top-tier construction companies.Song Seung-hyun, CEO of Urban and Economic Research, stated, "A selective bidding strategy focused on high-profit core projects is being strengthened." He added, "Whereas previously, the competition involved ten major construction firms, it is now effectively being restructured around five or even three leading firms, reducing opportunities for other construction companies to participate."However, he noted that not only brand competitiveness but also trust with the association plays a crucial role in determining the success of bids. Song emphasized, "In maintenance projects, construction firms that have built long-term trust with association members and executives are likely to have an advantage. Firms that have consistently established relationships from the early stages of the project often gain a strategic edge in bidding competitions." 2026-07-14 16:36:00
  • Masayoshi Son: Fusion Energy Will Power AI Data Centers in 15 Years
    Masayoshi Son: Fusion Energy Will Power AI Data Centers in 15 Years Masayoshi Son, chairman of SoftBank Group, proposed fusion energy as a long-term solution to meet the growing power demands of artificial intelligence (AI) data centers.On July 14, during the annual SoftBank World event in Tokyo, Son stated, "Fusion will become a primary source of new energy that is cheaper, cleaner, and safer on Earth." He questioned the sustainability of continued reliance on gas power, predicting that fusion would replace gas generation within 15 years.Son projected that by 2040, the global power capacity required for data centers could reach 3 terawatts (TW). To put this in perspective, 1 TW equals 1,000 gigawatts (GW), while the largest data centers currently operate at about 1 GW.He estimated that building a 1 TW data center would require approximately $5 trillion (about 7,479 trillion won), anticipating a significant increase in computing demand over the next decade due to the expansion of AI.Son expressed confidence that the revenue generated from AI services would sufficiently cover the costs of building data center infrastructure, dismissing market concerns about whether the hundreds of billions invested in AI hardware would translate into actual profits. He remarked, "Asking if AI is a bubble is a very foolish question posed by those who do not understand or properly utilize AI."Currently, Son believes that a substantial portion of data center power demand will still be met by natural gas, which accounts for over one-fifth of global electricity generation and emits less carbon than oil or coal, though it still produces greenhouse gases during combustion.Fusion technology harnesses the principles of energy production found in the sun and stars. Theoretically, it produces less carbon emissions and generates less long-lived radioactive waste compared to traditional nuclear fission methods. It is also considered to have a lower risk of accidents due to chain reactions.However, experts note that significant technical and financial challenges remain before fusion can become a commercially viable energy source. Bloomberg New Energy Finance (NEF) points out that only a few countries have successfully implemented the fundamental technologies required for fusion.* This article has been translated by AI. 2026-07-14 16:32:00
  • South Korea launches AI network to power industrial robots
    South Korea launches AI network to power industrial robots SEOUL, July 14 (AJP) - South Korea has begun building a next-generation communication network designed to run physical artificial intelligence on factory and shipyard floors. The Ministry of Science and ICT and the National Information Society Agency (NIA) held a kickoff meeting for the "Hyper-AI Network" project on Tuesday, which fuses standalone 5G with an AI-based radio access network, known as AI-RAN. The pilot network aims to prove out physical AI services such as welding, painting and patrol robots in industrial settings, with the government planning to widen the scope to humanoids from 2027. The state will pour about 17.2 billion won ($11.4 million) into the effort, selecting two consortia led by SK Telecom and KT as lead operators. SK Telecom's consortium will build an AI-RAN pilot network at SK Incheon Petrochem and KG Mobility sites, testing services including a four-legged patrol robot, unmanned autonomous transport and a low-power mode for humanoids. The project adopts a multi-vendor approach, simultaneously deploying AI-RAN equipment from Samsung Electronics, Ericsson, Nokia and HFR to gauge performance gains against conventional networks. KT's consortium will develop an "AI core orchestrator" that analyses network data in real time and fixes faults automatically, verifying a stable communication environment for swarms of robots at shipyards. Working with HD Hyundai Samho, KT will trial three services — AI welding robots, AI painting robots and autonomous robots that run telecom facilities — to measure gains in productivity and safety. "For physical AI to be realised safely and reliably at industrial sites, a hyper-AI network supporting ultra-low-latency, high-reliability communication and high-capacity uplink is essential," NIA President Kim Hyung-chul said. 2026-07-14 16:28:41