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People Power Party Maintains Boycott of National Assembly Committees, Prolonging 'Half-Assembly' Situation 국민의힘이 국회 상임위원회 전면 보이콧 방침을 유지하기로 하면서 '반쪽 국회'가 장기화될 전망이다. 여당은 법안 처리에 속도를 내고 있는 가운데 국민의힘의 장외 투쟁은 한계가 있다는 지적이 나오지만, 여야 간 협상의 여지가 없어 교착상태에 빠진 것으로 보인다. 국민의힘은 13일 중진 간담회와 의원총회를 잇따라 열고 원 구성에 대한 의원들의 의견을 수렴했다. 김태규 원내수석대변인은 이날 의원총회 직후 기자들과 만나 "정점식 원내대표가 (의원들의) 구체적 의견을 구하고 싶어 화두를 던졌는데, 되레 의원들이 별말이 없고 원내대표에게 (전권을) 맡기겠다는 것이 전반적인 입장이었다"고 말했다. 조정식 국회의장이 오는 17일까지 원 구성을 완료해 달라고 요구한 것에 대해서는 "어떤 식으로 대응할지 구체적인 내용은 없었다"며 "오늘까지 (협상이) 제대로 안 이뤄진 것은 여당의 일방적인 태도 때문이라 저희로서도 답을 찾기 쉽지 않은 상황"이라고 설명했다. 앞서 열린 정 원내대표와 중진 의원들과 비공개 간담회에서는 보이콧을 지속해야 한다는 주장이 우세한 것으로 알려졌다. 정 원내대표는 중진 의원들과 만난 뒤 기자들에게 "대체적 생각은 원 구성 협상을 지금 같은 상황에 들어가는 게 맞냐는 것"이라며 "중진들 생각과 다른 의원들 생각이 거의 일치하지 않을까 싶다"고 했다. 4선 김도읍 의원은 "더불어민주당이 법사위원장, 의장도 갖고 있으면서 보완수사권 폐지에는 협상의 여지가 없다고 하는데 국민의힘이 상임위에 들어간다고 해서 무슨 의미가 있겠냐는 측면에서 많은 논의가 있었다"며 "원 구성 협상도 중요하고 상임위원장을 누가 가지느냐도 중요하지만 보완수사법 폐지를 막아내는 것이 국민을 위해 할 일이 아니냐는 얘기도 나왔다"고 말했다. 한 재선 의원은 "의원총회에서 의원들이 정 원내대표에게 원 구성 협상을 일임하기로 했다"며 "조 의장이 제시한 기한은 의미가 없고 민주당의 전당대회가 끝나는 8월까지 협상이 이어질 것"이라고 내다봤다. 민주당은 11개 상임위를 단독 구성하고 입법 속도전에 들어간 반면 국민의힘은 상임위 보이콧을 유지하면서 '반쪽 국회'가 이어질 것으로 보인다. 국민의힘 일각에선 남은 상임위를 받고 원내에서 싸워야 한다는 목소리가 나오지만 '빈손 협상'으로 보일 수 있어 출구 전략을 고심하는 모습이다.* This article has been translated by AI. 2026-07-13 18:32:00 -
Ashley Queens to Open Grand NC Songpa Location with Expanded Menu and Space E-Land Eats has confirmed that the prices for the upcoming 'Ashley Queens Grand NC Songpa' location, set to open on July 16, will remain the same as those at existing Ashley Queens locations. While enhancing the menu, space, and experiential elements, the brand aims to maintain its competitive pricing.According to industry sources, the Grand NC Songpa location will feature a 20-30% increase in menu items and a 70% larger dining area compared to existing stores. New experiential elements, such as a live grill, an open sandwich zone, and a pairing zone, will also be introduced.Initially, there were expectations in the industry that the prices for weekday dinners and weekend visits would increase by 4,000 won and 2,000 won, respectively, due to the enhanced menu and content. However, in the final decision-making process leading up to the opening, it was determined that the new location would operate at the same prices as existing Ashley Queens outlets. Consequently, the adult pricing will remain at 19,900 won for weekday lunch, 25,900 won for weekday dinner, and 27,900 won for weekends and holidays.An E-Land Eats representative stated, 'We plan to provide an upgraded dining experience that combines our existing strength of reasonable pricing with a more diverse menu, expanded space, and new experiential elements while keeping prices unchanged.'* This article has been translated by AI. 2026-07-13 18:24:00
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Conditions for K-Food in Global Markets In the past, products sold well if they were tasty and affordable. However, times have changed. Now, even the same product is evaluated based on the ingredients used, whether the packaging is recyclable, and if it meets health standards. Food companies are now required to manage not only product quality but also evolving standards.A prime example is the European Union's Packaging and Packaging Waste Regulation (PPWR), set to take effect in August. This regulation aims to reduce plastic waste and establish a circular economy. Starting in August, harmful substance regulations for food contact packaging will be implemented, and by 2030, only packaging with a certain level of recyclability will be allowed in the market. This poses a significant challenge for South Korea's ramen industry, which is on the verge of surpassing 3 trillion won in annual exports. Current technology makes it difficult to easily replace multi-material ramen packaging that combines various materials while maintaining taste and quality. Consequently, major companies like Nongshim and Samyang Foods are accelerating the development of new packaging materials, a challenging task that requires maintaining existing quality while ensuring recyclability.The changes extend beyond just packaging. European clients have begun requesting various documentation from South Korean food companies, including test reports and declarations of conformity (DoC) related to packaging. Proving that products meet these standards has become a crucial task for companies. Additionally, a recall incident involving Samyang Foods' Carbonara Buldak Bokkeummyeon in Germany last April highlighted the impact of differing national interpretations of food ingredients. It remains uncertain what new standards will emerge as barriers in different countries.South Korea is not exempt from these changes. Starting at the end of the year, the labeling system for genetically modified organisms (GMOs) will be strengthened. Companies will be required to label products that use GMO ingredients, even if no genetically modified components are detected in the final product. This increases the burden on companies, from ingredient management to packaging changes and labeling updates. Discussions are also intensifying regarding a sugar tax on sugary beverages, which could further impact product development and pricing strategies.For companies, these changes represent significant costs. They must develop new packaging, manage supply chains, and potentially revise recipes and product strategies. Research and development costs, administrative burdens, and market uncertainties are all on the rise. As regulations increase, companies' concerns will inevitably deepen.However, this trend should not be viewed solely as a burden. As K-Food gains influence in global markets, it is natural to expect higher environmental, safety, and health standards. Companies that proactively meet stringent global standards can access broader markets, creating a competitive edge that is difficult for latecomers to replicate. Nonetheless, excessive regulations that are disconnected from reality could stifle industry vitality, so the government must also reduce confusion for companies by providing predictable systems and clear guidelines.There is a saying that symbolizes evolution: the species that survive are not the strongest or the smartest, but those that adapt best to change. The competitiveness of K-Food cannot be explained solely by taste and price. The speed at which it adapts to changing standards will be a key factor determining K-Food's next phase of growth in the global market.* This article has been translated by AI. 2026-07-13 18:20:00
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Rising Middle East Tensions Increase Price Pressures in Food Industry As military tensions between the United States and Iran escalate, the food industry faces urgent cost management challenges. With raw material prices already inadequately reflected in product pricing, uncertainties surrounding international oil prices and shipping costs are expected to heighten price increase pressures in the second half of the year.According to industry sources, the conflict between the U.S. and Iran has intensified, raising tensions in the Hormuz Strait, a critical route for global oil transport. On July 12, the Iranian Revolutionary Guard Corps (IRGC) declared a blockade of the Strait, while the U.S. resumed airstrikes on Iranian military facilities, further deteriorating the situation in the Middle East.The Hormuz Strait is a strategic chokepoint through which approximately 27% of the world's maritime oil trade passes. Oil and liquefied natural gas (LNG) from major Middle Eastern producers such as Saudi Arabia, the United Arab Emirates, and Kuwait are transported through this route to Asia and Europe. Industry experts warn that if the blockade becomes a reality or military tensions persist, international oil prices and shipping costs could face renewed upward pressure.These variables are likely to exacerbate already accumulated cost burdens. According to the Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries & Food Trade Corporation (aT), the raw material purchase price index rose to 133.9 in the second quarter of 2026, up 13.4 points from the previous quarter's 120.5. In contrast, the shipping price index only increased by 2.5 points to 103.8 during the same period, indicating that companies are absorbing a significant portion of the rising raw material costs.Industry analysts believe that worsening international conditions could further increase these burdens. In the same survey, 63.9% of respondents cited 'fluctuations in international economy such as prices, interest rates, and exchange rates' as the primary factor for rising raw material prices, while 32.2% identified 'economic instability due to deteriorating international conditions' as a key factor affecting economic downturn.The food manufacturing sector is particularly sensitive to oil price fluctuations. Packaging materials such as PET bottles and food packaging films are produced from naphtha, a petrochemical raw material, and energy costs for manufacturing processes and product transportation are closely linked to international oil prices. When oil prices rise, costs for packaging materials, logistics, and factory operations increase simultaneously.Different sectors are facing significant pressures. The beverage industry is monitoring fluctuations in packaging material prices, while the ramen sector is keeping an eye on potential increases in the prices of imported palm oil and soybean oil, as well as packaging costs. The supply of packaging raw materials has not yet fully normalized. According to the Korea Food Industry Association, naphtha supply, which had dropped to 70% of normal levels due to the Middle East conflict, has recently recovered to about 90%. However, if the current situation persists, there are concerns that the recovery trend may slow down again.Some companies have already begun to reflect cost burdens in their prices. Lotte Chilsung Beverage raised the average shipping prices of 44 items across 12 brands, including Chilsung Cider and Pepsi, by 5.3% starting June 26. Ottogi also plans to increase the shipping prices of 29 items, including curry, glass noodles, ketchup, and pepper, starting July 16, with increases of 6.1% for curry and ketchup, 10% for glass noodles, and 17% for pepper.Industry insiders note that since oil prices and exchange rates typically take time to be reflected in manufacturing costs, if the Middle East risks persist, the burden may continue into the second half of this year and even into next year. A food industry representative stated, "While there are no immediate supply disruptions, if oil prices and shipping costs rise again due to international conditions, the costs for packaging materials, logistics, and imported raw materials could be affected in a chain reaction. Companies with accumulated cost burdens will find it increasingly difficult to respond to these challenges."* This article has been translated by AI. 2026-07-13 18:20:00
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Global Auto Industry Faces Restructuring Amidst Challenges, South Korea Stands Firm on Strikes Global automotive companies are undergoing significant restructuring due to a combination of factors including domestic market slowdown, protective tariffs, electrification transitions, and the ongoing conflict in the Middle East. These companies are cutting jobs, closing factories, and reducing non-core operations to free up cash for investments in future mobility, such as electrification and software-defined vehicles (SDVs). In contrast, South Korea is criticized for ignoring industrial structural changes and being mired in collective self-interest, focusing instead on outdated demands like extending retirement age and reinstating laid-off workers.According to industry sources, the global automotive sector is in the midst of extensive restructuring. The Volkswagen Group recently held a board meeting and decided to cut over 100,000 jobs, which represents 15% of its global workforce of 657,000. This marks the largest job reduction in automotive history, surpassing General Motors' 74,000 job cuts in 1991. Volkswagen also announced plans to close four factories in Germany and reduce its entire vehicle model lineup by up to 50%.Honda, one of Japan's three major automotive groups, is also tightening its restructuring efforts. After reporting a loss of approximately 690 billion yen (about $6.4 billion) last year, Honda announced its withdrawal from the South Korean automotive market as part of its business reorganization. The company plans to close one factory operated jointly with Guangzhou Automobile Group (GAC) within the year and is expected to halt operations at its joint venture with Dongfeng Motor Group next year.Other companies like Volvo, Mercedes-Benz, and Audi are also facing job cuts. Volvo has reduced its workforce by about 3,000, or 7% of its total 43,800 employees, and has implemented additional cuts at its factories in Virginia and Pennsylvania. Mercedes-Benz aims to reduce costs by about 20% through workforce reductions and relocating production sites by 2027, while Audi plans to cut approximately 7,500 jobs by 2029.In South Korea, a different scenario is unfolding as the summer strike season begins. This year's wage and collective bargaining negotiations have intensified labor disputes, focusing on demands for retirement age extensions, wage increases, and opposition to AI humanoids. This contrasts sharply with the fierce competition among global automakers to transition to electrification, SDVs, and AI integration. There are concerns that the rising risk of strikes could severely impact South Korea's strategic value amid the ongoing global restructuring of automotive supply chains.Indeed, companies like Hyundai, GM Korea, and Renault Korea have responded to increasing strike intensity by reallocating new vehicle production to overseas plants. An industry insider noted, "The strong labor unions in Korea create a significant risk that compels companies to consider building factories abroad, even at a higher cost, which undermines the advantages of Just-In-Time production and the 'anti-China' block strategy."* This article has been translated by AI. 2026-07-13 18:16:00
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Nexspace Launches 700 Games in Three Weeks, Expands MapleStory IP Nexon is expanding the MapleStory ecosystem through its subsidiary Nexspace, which has opened official assets and AI development tools to users. As a result, 435 games created during the Vibe Camp have passed review and are now in service. This initiative aims to broaden the use of intellectual property (IP) and create new genres and content, potentially extending the IP's lifespan.According to the gaming industry on July 13, Nexspace, Nexon's blockchain subsidiary, held the 'MapleStory Vibe Camp' last month, allowing anyone to create games.As a result, 693 games were developed based on the MapleStory Universe IP, with 435 passing review for service. The company applied criteria such as user retention, in-game engagement, and total play counts. A variety of genres were created, including real-time strategy (RTS), trading card games (TCG), idle role-playing games (RPG), and tycoon simulations.The MapleStory Vibe Camp was conducted in collaboration with the AI-based game development platform Burst Eight, in a dedicated space called the 'MapleStory Universe (MSU) Space.' Nexspace allowed users to freely utilize official assets such as characters, monsters, items, and backgrounds from the MSU. Notably, users could create games using natural language prompts.Nexspace reported that 29,015 users from 114 countries played a total of 88,037 games. The most successful title saw a user return rate increase from 35% to 70%.This Vibe Camp is seen as a confirmation of the expansion potential for the MapleStory IP. With over 20 years of service, the longevity of existing game IPs has become a challenge, and Nexon has been exploring ways to extend the IP's lifespan through user-generated content and genre expansion.The games created reinterpret the original IP assets, including monsters, skills, maps, non-playable characters (NPCs), and sounds, in new ways. Various genres were developed, including RTS, TCG, idle RPG, visual novels, auto-battlers, dungeon exploration, tycoon simulations, and story-driven adventures. Nexspace emphasized that diverse genres of games were created, which MapleStory had not attempted in its 23-year history.The company anticipates that the MSU ecosystem will continue to thrive even after the camp concludes. Nexspace noted that after the camp's prize distribution, 1,250 builders are currently working on approximately 3,000 projects, keeping the MSU Space active.To support this, Nexspace plans to maintain an on-chain economic system for the MapleStory Universe, where revenue generated from game play is returned to creators. The prizes from the Vibe Camp were distributed in NXPC.Nexspace stated, 'For 23 years, MapleStory content has followed a one-way flow, produced by one company and played by millions. However, during this camp, thousands of users expanded the MapleStory IP on other platforms. This marks the beginning of a change.'* This article has been translated by AI. 2026-07-13 18:16:00
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South Korean Automakers Face Strikes Amidst Industry Restructuring South Korean automakers are undergoing significant restructuring due to a complex interplay of factors, including competition from Chinese electric vehicle (EV) manufacturers, sluggish domestic demand in emerging markets due to conflicts in the Middle East, and changes in employment structures driven by the adoption of artificial intelligence (AI) and software-defined vehicles (SDVs). This restructuring is viewed not merely as a cost-cutting measure but as a survival strategy through the reorganization of existing business structures.On July 13, a representative from a global automaker stated, "The shrinking presence of major global automakers like Volkswagen and GM in the Chinese market, which was once a cash cow, has prompted these restructuring efforts. The slowdown in sales in emerging markets, the absence of alternative markets, tariff challenges, and the collapse of global supply chains have all acted as catalysts for change."Indeed, Volkswagen Group, a symbol of German manufacturing, is facing a restructuring that involves cutting 15% of its workforce due to poor performance in China. Volkswagen's sales in China dropped from 4.2 million units in 2018 to an estimated 2.92 million in 2024, and further declined to 2.69 million last year. Sales in the first quarter of this year are estimated to have plummeted by 36% year-on-year to 425,000 units.Honda has also struggled to adapt to the shift toward electrification, losing market leadership. The company, which entered the electrification race later than Tesla and local Chinese brands, invested heavily to regain its footing but faced challenges such as a temporary demand stagnation for electric vehicles, U.S. tariffs, and a global sales slowdown. Policy confusion surrounding its traditional internal combustion engine vehicles further complicated its position.Long-term stagnation in the North American market has led to the cancellation of several electric vehicle projects, including the "Honda 0 SUV," "Honda 0 Saloon," and "Acura RSX." Plans for a large battery factory in Canada have also been scrapped. Additionally, the decision to withdraw from the South Korean market was made amid the global supply chain restructuring. A Honda representative stated, "We will end our automobile sales operations in South Korea by the end of 2026, maintaining only our motorcycle business, as part of a global decision to strengthen our long-term competitiveness."While automakers globally are restructuring, the atmosphere in South Korea is markedly different. The Hyundai Motor Company union has initiated partial strikes starting today, demanding a monthly wage increase of 149,600 won (excluding seniority raises), a 30% performance bonus based on last year's net profit, a 4.5-day workweek, reinstatement of members dismissed for illegal activities, and an extension of the retirement age. Industry insiders are concerned that the union's actions could be recorded as a case of declining competitiveness amid the transition to AI and SDVs.Labor disputes are also intensifying at Korea GM and Renault Korea. The Korea GM union is demanding a monthly wage increase of 149,600 won, a performance bonus of approximately 30 million won, allocation of new models to domestic plants, and mandatory prior consultation with the union in cases of mergers or outsourcing. The Renault Korea union has declared a breakdown in negotiations after 12 rounds of talks since starting negotiations in April.The issue is that there have been few tangible results from strikes following the breakdown of negotiations. After extreme labor disputes, Korea GM relocated the production base for the "Cruze," which was manufactured for export to Europe, from its Gunsan plant to Mexico. Renault, which conducted 60 strikes in 2018-2019, managed to secure its demands in negotiations but saw the cancellation of new allocations for the "Nissan Rogue" produced for export to North America the following year. Hyundai, which has faced severe labor disputes annually, has diversified its supply chain to countries like China, India, and the U.S. since the 2010s. A global automaker representative expressed concern, stating, "In the face of global layoffs, strikes in South Korea could lead to reduced production volumes."* This article has been translated by AI. 2026-07-13 18:08:00
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Korean Auto Industry Faces $200 Million Loss Amid Ongoing Strikes The ongoing strikes in the automotive industry are raising concerns about significant losses for parts suppliers. As factories halt production, first to third-tier suppliers must adjust their delivery schedules, leading to immediate impacts on revenue and cash flow for smaller firms lacking financial resilience. With the transition to electrification already straining their foundational strength, the added risk of strikes poses a serious challenge.According to industry sources, the recent strikes by automakers have heightened tensions within the parts sector. On July 13, the Hyundai Motor Company union began partial strikes, halting production for up to four hours a day, while the Korean GM union refused overtime and weekend work.Hyundai's partial strikes are expected to stop production lines for a total of 12 hours over three days, with day and night shifts leaving work two hours early until July 15. The anticipated production shortfall is around 5,000 vehicles, which, at an average revenue of approximately 42.65 million won per vehicle, could result in losses exceeding 200 billion won.Suppliers are also facing inevitable cascading losses. When assembly plants cease operations, the delivery volumes to suppliers are immediately adjusted, affecting not only first-tier suppliers but also second and third-tier companies.Given the nature of the automotive industry, where many suppliers are interconnected, the impact of strikes can be substantial. As of the end of last year, Hyundai had 1,494 first-tier suppliers, with 347 located domestically. When production plans change, orders naturally decrease for both first and lower-tier suppliers.The parts industry has been under pressure for years due to the transition to electrification and a decline in new vehicle projects. While demand for components related to internal combustion engines, such as engines and transmissions, is decreasing, investment in electric vehicle parts is increasing. Additionally, competition from low-cost Chinese parts is further weakening the industry.Suppliers that rely heavily on specific automakers face greater burdens. Delays in new vehicle development and securing production volumes can lead to lost opportunities for new orders. Korean GM has not received new vehicle development projects since the launch of the Chevrolet Trailblazer in 2020, limiting its role to an export production base.This has made growth difficult for parts suppliers. Earlier this year, GM Technical Center Korea (GMTCK), the research and development arm of Korean GM, was reported to be working on new vehicle development, but details regarding specific models, domestic launch plans, and mass production schedules have not been disclosed. As delays in new vehicle development and securing production volumes continue, first-tier suppliers and other parts manufacturers are increasingly concerned.Small parts suppliers may find themselves facing existential threats. Reduced deliveries and production disruptions directly lead to revenue shortfalls, cash flow issues, and inventory burdens, which many cannot afford. Diversifying clients is challenging, and even as parts demand decreases, fixed costs such as inventory storage, logistics, and labor remain.The key issue is whether the strikes will be prolonged. Short-term or partial strikes may allow for recovery of parts demand through overtime or weekend work, but if the strikes extend, the shock to the parts industry could snowball.Lee Taek-sung, director of the Korea Automotive Industry Cooperative, stated, "In a situation where many difficulties and challenges are piling up both domestically and internationally, I hope that everyone can come together with wisdom and unity to negotiate amicably to avoid imposing a significant burden or impact on the automotive industry and related parts suppliers."* This article has been translated by AI. 2026-07-13 18:08:00
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SK Hynix Accelerates Recruitment of AI Semiconductor Talent Following Nasdaq Listing SK Hynix is launching a comprehensive recruitment process to enhance its artificial intelligence (AI) semiconductor technology following its listing on the Nasdaq. The company aims to attract top talent by offering competitive compensation packages comparable to those of major tech firms like Nvidia, AMD, and Intel.According to industry sources on July 13, SK Hynix has begun restructuring its hiring system through its U.S. subsidiary, SK Hynix America, to recruit global talent. The company plans to offer stock options and performance-based restricted stock units (RSUs) as key incentives to attract skilled engineers from Silicon Valley.SK Group Chairman Chey Tae-won expressed his commitment to talent acquisition shortly after the listing on July 10, stating, "Compensation based on Nasdaq-listed stock will be the most intuitive and powerful incentive for global tech talent."Ahead of the planned launch of its advanced packaging production facility in Indiana by 2028, SK Hynix is prioritizing the establishment of a skilled workforce. The company is focusing on recruiting experts in next-generation high-bandwidth memory (HBM) design and AI-based manufacturing systems to internalize core technologies before mass production. These experts will collaborate closely with domestic research and development (R&D) teams to drive global technological synergy.In addition to individual hiring, SK Hynix may also employ an "acquihire" strategy, absorbing entire research teams from local tech companies. This proven method allows the company to secure both essential technologies and key personnel from Silicon Valley firms.Analysts suggest that SK Hynix's listing has provided a financial and institutional foundation for pursuing significant deals. Domestic semiconductor companies have faced challenges in attracting top talent in the U.S. due to liquidity constraints on stock-based compensation. Local talent often finds KOSPI-listed stocks less attractive due to tax implications and accessibility. In contrast, SK Hynix's Nasdaq listing enables immediate stock-based compensation in dollars, leveling the playing field with local big tech firms in the talent acquisition process.To solidify its "AI triad alliance" with Nvidia and TSMC, SK Hynix is expected to focus on recruiting logic semiconductor design engineers and advanced packaging specialists with master's and doctoral degrees, which are essential for customized memory design beyond the sixth generation of HBM (HBM4). Recently, Nvidia has rapidly absorbed key design personnel through high stock incentives linked to its rising stock price, while TSMC has significantly increased base salaries and expanded performance-based stock compensation for global engineers.An industry insider noted, "Korean companies have often missed out on key talent despite having the necessary technology because they couldn't meet the unique compensation standards of Silicon Valley. With the advantage of Nasdaq-listed stock, SK Hynix is poised to change the rules of the game in the talent acquisition competition against big tech."* This article has been translated by AI. 2026-07-13 18:08:00
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The Electric Industry's Transformation: A Call for Unity On June 29, the government announced the "Three Major Megaprojects for South Korea's Great Leap Forward," focusing on semiconductors, physical AI, and AI data centers. Notably, the scale of investment from semiconductor companies, amounting to trillions of won, was not the only point of interest. Electricity was also highlighted as a crucial element necessary to drive this massive initiative. Whether for semiconductor fabs or AI data centers, the amount of power required is equivalent to that generated by dozens of nuclear power plants. Regardless of how grand the investment plans are, without a stable and timely supply of electricity, they will remain mere blueprints. The government has prioritized the expansion of power infrastructure as a key support task alongside the announcement of these megaprojects.The surge in electricity demand is not limited to megaprojects. The electrification of various industries is causing national power demand to grow at an unprecedented rate. The government has stated its intention to achieve 100 GW of renewable energy by 2030, utilize nuclear power and small modular reactors (SMRs), expand energy storage systems (ESS), and proactively establish power grids.The direction towards decarbonization and local consumption of electricity is correct. However, having the right direction does not guarantee automatic execution. The electric industry still faces numerous challenges, including ensuring the stability of energy supply, building large-scale transmission networks, and training skilled personnel to meet the rapidly increasing power demand.Electricity has transitioned from being merely an infrastructure supporting industries to a core asset that influences national competitiveness and economic growth. The electric industry refers to this era as "eleconomy," where electricity and economy are intertwined. This is the reality we face today.In such times, a platform that allows the entire electric industry to speak with one voice is essential, as is a focal point that can bridge the gap between policy and practice. Even if the government proposes policy directions, the effectiveness of these policies will diminish if the voices from the industry are not gathered in a timely manner. Companies seek systems that can reduce investment uncertainties, while power generation companies and equipment and construction sectors need applicable standards and support systems. Academia and research institutions must prepare for future technologies, and the government should consider the overall power supply and industrial competitiveness of the nation. The electric industry operates through the interplay of various stakeholders' interests and roles. Merely voicing individual opinions will make it difficult to keep pace with the speed of transformation. Thus, a central axis that can consolidate industry opinions, gather field challenges, and connect them to policy is necessary.The establishment of the Korea Electric Industry Association is a response to this urgent need. The association, which has a 60-year history, has restructured itself based on the newly enacted "Basic Law for Electric Industry Development" and launched with a significantly revamped system and role in April 2026. This is not just a name change; it is a reorganization to serve as the representative platform for the electric industry in line with the changing times.The role of the association is clear. It aims to unify the voices of the industry, which were previously scattered across various sectors such as power generation, transmission and distribution, electrical equipment, and construction, and propose them as policy tasks to the government, while also supporting system improvements and the discovery of support projects. The foundational work of the Korea Electric Association, including the operation of electrical equipment technical standards and power industry technical standards (KEPIC), policy research, and professional workforce training, will continue.Furthermore, the association will strengthen its role as a communication platform where companies, power generation firms, academia, and research institutions can discuss the future together, acting as a bridge between the government and the industry. This will create a virtuous cycle where policy directions are accurately conveyed to the field, and the realities of the field are reflected in policies. This is the vision that our electric industry aims to realize.South Korea currently stands at the center of international competition over AI supremacy. The three major megaprojects reaffirm that the practical foundation of this competition ultimately lies in electricity. If timely electricity supply is a prerequisite for the nation's leap forward, then the electric industry must steadfastly fulfill its role as the starting point.As the importance of the industry grows, so too does the weight of the collaborative systems and policy platforms that support it. What is needed now is an environment where the entire electric industry can look in the same direction and grow together, beyond the competitiveness of individual companies and sectors. The Korea Electric Industry Association will take responsibility as the focal point and coordinator of the industry in this historic task. We will steadfastly maintain our position alongside the field and the public, ensuring that electricity can illuminate the future of South Korea.* This article has been translated by AI. 2026-07-13 18:04:00