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  • IBK Industrial Bank to Support 103 Innovative Startups in Second Half of 2026
    IBK Industrial Bank to Support 103 Innovative Startups in Second Half of 2026 IBK Industrial Bank announced on July 13 that it will select and support 103 innovative startups through its startup incubation platform, IBK ChangGong, in the second half of 2026.According to the bank, this round of recruitment includes companies with technological prowess and innovation in areas such as semiconductor production process analysis, wireless power system development, private space services, wearable medical device development, and artificial intelligence (AI) security platforms.IBK ChangGong will hold orientation sessions at its centers nationwide this week, followed by a five-month incubation program. The program will provide tailored support, including growth strategy development based on expert assessments, one-on-one dedicated mentoring, business consulting, and training for investment pitching (IR).Additionally, the program will offer financial and non-financial services, including investment and financing support through IBK Financial Group, connections to domestic and international venture capital investments, open innovation opportunities with large and medium-sized enterprises, and a global incubation program for companies seeking to expand overseas.* This article has been translated by AI. 2026-07-13 16:52:00
  • Government Considers New Nuclear Power Plants to Meet Rising Electricity Demand
    Government Considers New Nuclear Power Plants to Meet Rising Electricity Demand The South Korean government has officially decided to review the introduction of new nuclear power plants to address the surging electricity demand driven by the expansion of semiconductor industrial complexes and artificial intelligence (AI) data centers.Kim Sung-hwan, Minister of Climate, Energy and Environment, stated at the National Fiscal Strategy Meeting held at the Blue House on July 13, "To respond to the rapid increase in electricity demand and stabilize the base load power supply, we will gather expert opinions and engage in public discussions to determine whether to introduce new nuclear power plants and small modular reactors (SMRs), and reflect this in the 12th Basic Plan for Electricity Supply and Demand (electricity supply plan)."This marks the first time the government has officially acknowledged the possibility of adding new nuclear power plants beyond the two large reactors and one SMR included in the 11th electricity supply plan.The 12th electricity supply plan is expected to outline electricity supply strategies from 2026 to 2040, with the Ministry of Climate planning to finalize and announce the plan within the year.Minister Kim noted that the confirmed projects for the Yongin and Honam semiconductor clusters and the expansion of AI data centers alone are projected to generate approximately 30 gigawatts (GW) of electricity demand, with potential demand exceeding 40 GW. Additionally, he forecasted that the transition from internal combustion engine vehicles to electric vehicles and the electrification of building heating could lead to an additional electricity demand of over 50 GW by 2040.He emphasized the need to accelerate the energy transition, stating, "Considering the phased elimination of coal power, we must increase the pace of energy transformation and aim to deploy over 100 GW of renewable energy by 2030 while establishing a harmonious energy mix with nuclear power."To expand renewable energy, the government plans to mandate solar panels on factory rooftops, significantly increase agricultural and floating solar power, and revise the settlement method for residential solar power to provide income in the form of a 'sunlight income pension.' The development of perovskite tandem cell technology, a next-generation solar cell, will also receive support.Wind power and energy storage systems (ESS) will be expanded concurrently. Minister Kim stated, "To utilize renewable energy as a primary power source, we will significantly enhance long-duration energy storage systems such as pumped storage and sodium-ion batteries."The government will also accelerate the electrification of transportation and buildings. Plans are being considered to establish subsidies for electric vehicle transitions and promote the electrification of delivery motorcycles, agricultural machinery, construction equipment, and ships. In residential buildings, heat pump systems will be expanded to replace gas piping for heating and hot water, and energy self-sufficient homes and communities combining solar power, electric vehicle charging, and AI appliances will be promoted.The power grid will transition from a unidirectional supply system centered on the metropolitan area to a bidirectional system based on local production and consumption. The existing transmission network will be utilized as much as possible, and unavoidable sections will be undergrounded to enhance community acceptance. The renewable energy bidding market currently implemented in Jeju will be expanded to the demand market and eventually to the mainland.The government is also working to strengthen energy independence in island regions. By 2030, 87 islands, including Ulleungdo, Baengnyeongdo, and Chuja-do, will be transformed into energy-independent islands based on 100% renewable energy, and plans are underway to establish a 345-kilovolt (kV) high-voltage transmission network to attract large-scale AI data centers.Additionally, plans to expand water infrastructure were presented. Minister Kim explained that the Yongin and Gwangju semiconductor clusters require approximately 2 million tons of water daily, with over 1 million tons needing to be secured. To address this, new water sources will be secured, including the raising of the Dongbok Dam, and a system will be established to integrate dams operated for various purposes such as power generation, flood control, and agriculture. The metropolitan water supply system will be comprehensively overhauled, and the reuse of treated wastewater will be expanded for industrial use, while seawater desalination and mobile desalination facilities will also be enhanced.Efforts will be made to recover waste heat generated in semiconductor processes to improve energy efficiency.Minister Kim concluded, "Electricity is the source of civilization, and water is the source of life. We will timely expand the electricity and water infrastructure to ensure that mega-projects proceed without disruption."* This article has been translated by AI. 2026-07-13 16:44:00
  • Five Candidates for Next South Korea National Soccer Team Coach
    Five Candidates for Next South Korea National Soccer Team Coach Following the resignation of coach Hong Myung-bo, the Korea Football Association (KFA) has begun the process of selecting a new head coach for the South Korean national soccer team. Speculation about potential candidates is heating up.On July 12, various social media platforms circulated an image listing five individuals rumored to be in contention for the position of head coach for the South Korean national team.The image features Paulo Bento, Gus Poyet, Roberto Martinez, Zlatko Dalic, and Javier Aguirre.Paulo Bento, who led the South Korean team from 2018 to 2022, guided the team to its 10th consecutive World Cup appearance and a round of 16 finish at the 2022 Qatar World Cup. Recently, reports have emerged indicating his interest in returning to the national team, drawing attention from soccer fans.Gus Poyet, who previously managed Jeonbuk Hyundai in the K League, is also being considered. Having coached teams such as Brighton, Sunderland, Real Betis, and the Greece national team, he is recognized for his understanding of Korean soccer and the K League, and has reportedly expressed interest in the national team coaching position.Roberto Martinez is another candidate. He previously led Belgium's golden generation and is currently the head coach of the Portugal national team, known for his extensive experience in international competitions. Some foreign media outlets have listed him as a potential candidate for the South Korean national team.Recently, Zlatko Dalic has gained significant attention. He led Croatia to a runner-up finish at the 2018 Russia World Cup and a third-place finish at the 2022 Qatar World Cup, earning global acclaim. Reports indicate that several national teams, including South Korea, are interested in him.Javier Aguirre is also consistently mentioned. He has managed the Mexico national team, Atletico Madrid, and Mallorca, where he is credited with fostering the development of Lee Kang-in. Mexican media have reported that Aguirre is among the candidates for the South Korean national team head coach position.Online reactions include comments such as, "There is no more proven coach than Bento," "If Dalic comes, it would be an unprecedented appointment," "Martinez would be a dream coach in Asia," "Poyet knows the K League well and would adapt quickly," and "Considering Lee Kang-in, Aguirre is also an interesting choice." However, some voices caution that "the system of the football association needs to change before focusing on the coach" and that "support is crucial, even if a world-class coach is brought in." It is important to note that the five individuals mentioned are not officially confirmed candidates by the KFA. They are being discussed in recent foreign media and within the soccer community, and the final selection process is still ongoing, with no confirmation of official negotiations.* This article has been translated by AI. 2026-07-13 16:40:00
  • Former LG Employee Turns Influencer, Earns Equivalent of Salary in Days
    Former LG Employee Turns Influencer, Earns Equivalent of Salary in Days Jung-sook, a participant in the 20th season of SBS Plus and ENA's 'I Am Solo,' has revealed that she is earning a significant income as an influencer after leaving her corporate job.On July 12, she posted a video on her social media titled 'The Reality of Being an Influencer After Leaving a Big Company.'In the video, she shared, "When I said I was leaving my corporate job, I heard a lot of people say, 'Are you crazy? How will you make a living?" She confirmed that she is now working full-time as an influencer.Jung-sook previously worked as a manager in product planning at LG Electronics but took a leave of absence due to depression. In a lengthy post, she explained, "It was strange that I didn't have depression at that time. Since I was 31, I cried every morning on my way to work, and I had become so accustomed to a passive, enslaved life that I couldn't even think about quitting the job I dreaded the most, taking the crowded subway in heels every morning."She recounted a moment of vulnerability when she asked her parents, trembling and in tears, if she could leave the company, only to be met with silence. "None of the adults, friends, or colleagues around me ever told me that it was okay to quit," she revealed.Jung-sook also mentioned that after reporting sexual harassment at work, she endured a difficult period that caused her to lose 10 kilograms.After appearing on 'I Am Solo,' she faced ridicule from colleagues. "When it was revealed that I took a leave of absence due to depression, I was mocked on a blind forum by coworkers. Even now, there are people around me who use 'she has depression' as a weakness against me. Those people need to see a psychiatrist," she criticized.After enduring these challenges, Jung-sook ultimately left her job and is now thriving as an influencer.She shared on social media, "Just three days after leaving LG, I earned as much as my salary from a single tool sale." In a March appearance on a YouTube channel, she stated, "I received about 100 million won in total, including bonuses. The money I earn now is equivalent to the price of a mid-sized car each month," which surprised many.* This article has been translated by AI. 2026-07-13 16:36:00
  • Korean GM Union Begins Partial Strike, Demands New Vehicle Assignments
    Korean GM Union Begins Partial Strike, Demands New Vehicle Assignments The Korean GM union has initiated a partial strike as part of wage and collective bargaining negotiations, calling for new vehicle assignments and investment plans for future cars. The union argues that the absence of new models since the Chevrolet Trailblazer has jeopardized Korean GM's future competitiveness.At a press conference on July 13 in Incheon, An Gyu-baek, head of the Korean GM branch of the National Metal Workers' Union, stated, "While wages are important, securing future vehicle production and new model assignments is urgent for the sustainability of Korean GM. The investment plan for future vehicles must be presented in this negotiation."Korean GM has not received new vehicle assignments since the launch of the Chevrolet Trailblazer in 2020, leading to concerns that it is merely serving as a production base. Although the company announced plans to produce plug-in hybrids (PHEVs) in 2024, those plans were withdrawn last year due to tariffs in North America.This year, the GM Technical Center Korea (GMTCK), the research and development arm of Korean GM, has reportedly been working on new vehicle development, but specific models, domestic production details, and mass production plans have not been disclosed.An emphasized, "The current models in production are expected to be discontinued as early as 2029 and as late as 2031-2032, so the investment plan for future vehicles, including new model assignments, must be addressed in this negotiation."He also claimed that the assignment of new models is directly linked to the survival of partner companies. With stricter safety regulations, such as the mandatory implementation of automatic emergency braking (AEB) in North America by 2029, failure to assign new models could lead to production gaps.An stated, "The sustainability of Korean GM is not just an issue for our union members; it is a matter of survival for second and third-tier suppliers as well. New model assignments are essential for keeping the factory operational and allowing partner companies to return to normal operations."As of today, the Korean GM union has begun a partial strike, refusing early shifts, overtime, and special shifts. They are also halting negotiations across all departments, which could lead to production disruptions, given that the Bupyeong and Changwon plants produced over 270,000 vehicles in the first half of the year while maintaining full operational capacity.According to the union, the average operating rates for the first half of this year were 91.5% for the Bupyeong plant and 93.6% for the Changwon plant, with 99% of production being exported to the North American market.Previously, the union secured the right to strike following a decision by the Central Labor Relations Commission to cease mediation on July 6. The union is demanding a monthly base salary increase of 149,600 won and a performance bonus of 30 million won, while management has proposed a monthly base salary increase of 75,000 won and a performance bonus of 10 million won, leaving both sides far apart. If no agreement is reached in the next three days of negotiations, the union plans to join a nationwide strike organized by the National Metal Workers' Union on July 15.An concluded, "The average annual working hours for Korean GM workers approach 2,200 hours, so a salary increase that reflects the value of labor is necessary. We hope to find common ground through amicable negotiations." 2026-07-13 16:36:00
  • Special Prosecutors to Re-Summon Jo Sung-hyun on Charges of Insurrection
    Special Prosecutors to Re-Summon Jo Sung-hyun on Charges of Insurrection The second special prosecutor team, led by Kwon Chang-young, will re-summon Jo Sung-hyun, the former commander of the Army's Capital Defense Command, on charges of involvement in the emergency martial law declared on December 12-13. The team has also notified lawmakers Na Kyung-won and Kim Ki-hyun of the People Power Party to appear for questioning regarding allegations of obstructing the execution of a warrant for the arrest of former President Yoon Suk-yeol.Special Prosecutor Kim Ji-mi held a regular briefing on July 13 at the special prosecutor's office in Gwacheon, Gyeonggi Province, stating, "We conducted witness interviews with two subordinates of Jo, who is under investigation for insurrection-related duties. This has led to significant testimonies regarding the details of orders given by Jo and notes taken at the time."Jo is accused of being involved in the insurrection by relaying orders from former Capital Defense Command Chief Lee Jin-woo to the Second Special Operations Battalion and the 35th Special Operations Battalion, directing them to respond to the National Assembly.The special prosecutors are focusing on Jo's statement to troops waiting at the Seogang Bridge, where he said, "The mission is to remove personnel from inside the National Assembly," following Lee's order to remove lawmakers. The prosecutors believe that issuing orders to subordinate units based on Lee's directive constitutes participation in insurrection.Previously, the insurrection special prosecutor team, led by Jo Eun-seok, had decided not to charge Jo, citing that he had initially responded passively to Lee's orders and ultimately deemed them unconstitutional and illegal, leading him to refuse compliance.During Jo's first questioning as a suspect on July 10, the special prosecutors reported that he generally denied the allegations, claiming he could not recall details of questions that were unfavorable to him and that he learned about his subordinates' movements afterward. The second round of questioning for Jo is scheduled for July 15.Additionally, the special prosecutors have summoned Na and Kim to appear on July 20 for their alleged roles in obstructing the execution of the arrest warrant for former President Yoon. Special Prosecutor Kim stated, "The two lawmakers submitted only opinion statements, not written testimonies." It has been confirmed that fellow lawmakers Yoon Sang-hyun and Kwon Young-jin, who were also implicated, submitted written testimonies and were not summoned.A detention hearing for former Ground Operations Commander Kang Ho-pil, who is also under investigation for insurrection-related duties, is expected to take place today, with a decision on his detention anticipated by late evening.Kang is accused of participating in the martial law by being involved in the establishment of an internal situation room within the Ground Operations Command and directing the assembly of crisis response teams and command staff. He is also suspected of participating in discussions related to the martial law prior to its declaration.At that time, former Defense Security Command Chief Yeo In-hyung referred to the Ground Operations Commander, Special Warfare Commander, Capital Defense Commander, and Defense Security Commander collectively as 'JTSB' and noted in memos, "The common opinion of JTSB is that the four are prepared. The enemy's actions must come first. A situation must arise that cannot be controlled by military or police forces."Kang, along with former Special Warfare Commander Kwak Jong-geun and former Commanders Lee and Yeo, is currently facing trial for insurrection-related duties.The insurrection special prosecutors previously determined that there was no evidence of actual troop deployment or specific missions carried out by the Ground Operations Command, leading to Kang being excluded from prosecution. Kang claims he was unaware of the martial law in advance and did not participate in its execution.* This article has been translated by AI. 2026-07-13 16:32:00
  • Labor Minister Proposes K-Labor Council to Support Non-Traditional Workers
    Labor Minister Proposes 'K-Labor Council' to Support Non-Traditional Workers Labor Minister Kim Young-hoon stated that with the rise of non-traditional work, the number of individuals providing repetitive services has reached 8.69 million. He emphasized that the existing social safety net, designed around traditional employment relationships, fails to fully encompass these workers, making a robust safety net for non-traditional workers urgently needed.During a national fiscal strategy meeting at the Blue House on July 13, Kim presented a report titled 'Strengthening a Reliable Social Safety Net for All Workers.'He expressed concern that the current system does not reflect the changing employment patterns in the labor market, leading to increased disparities. Many labor providers are left without pay or face unfair treatment, often relying on civil lawsuits for redress. Additionally, many are excluded from social insurance programs such as employment and industrial accident insurance.Kim stressed the need for society to transition to an inclusive safety net that prioritizes 'the act of working' rather than the type of employment or work method.In response, the Ministry of Labor proposed five key investment areas: workplace security, welfare support, peace of mind, growth opportunities, and retirement security. These initiatives aim to protect basic rights through measures such as support for recovering unpaid wages, ensuring safe workplaces, and preventing harassment and sexual assault. The ministry also plans to establish a foundational law to safeguard the rights of workers.The Basic Labor Welfare Act will be comprehensively revised into the Labor Welfare Basic Act to expand welfare support for labor providers and connect with the Ministry of Culture, Sports and Tourism's vacation support program to guarantee the 'right to rest.' The scope of employment and industrial accident insurance will also be expanded to create a more comprehensive social insurance system.To enhance the capabilities of labor providers, the ministry will promote the Tomorrow Learning Card, facilitating access to vocational training and career management for greater opportunities. Additionally, it will strengthen the Retirement Pension Plus program to encourage small businesses to enroll in individual retirement pension plans, supporting tailored asset formation for labor providers through the 'Together Savings Fund.'Kim proposed the establishment of the 'K-Labor Council,' a self-sustaining mutual aid system based on a fundamental law for workers' rights, encompassing livelihood, welfare, and rights protection. He described it as a representative body for diverse citizens who cannot even form unions, aimed at fostering a community of mutual support.He concluded that this initiative marks the first step in expanding the traditional employment-centered social safety net into a comprehensive safety net for all workers, emphasizing a future of labor that respects human dignity and embraces technological innovation in AI, ensuring no one is left behind.* This article has been translated by AI. 2026-07-13 16:32:00
  • NH Nonghyup Life Provides Medical Support to 300 Farmers in Gochang
    NH Nonghyup Life Provides Medical Support to 300 Farmers in Gochang NH Nonghyup Life has initiated health support for rural residents, a vulnerable demographic in terms of medical care.On July 11, NH Nonghyup Life conducted the '2026 5th Rural Medical Support Project' at the sports center in Haeri-myeon, Gochang County, as announced on July 13.The medical volunteer team, in collaboration with medical staff from Yonsei University Health System (Severance Hospital), provided consultations and prescriptions in various specialties, including internal medicine, cardiology, dentistry, and rehabilitation medicine, to over 300 farmers and elderly individuals.To address medical gaps in rural areas, NH Nonghyup Life signed a medical support agreement with Yonsei University Health System in 2022 and has continued its rural medical support initiatives. This year, the organization plans to offer health check-ups and medical services to approximately 2,000 rural residents over eight sessions. So far this year, around 1,200 farmers have benefited from these medical services.Park Jong-tak, Vice President of NH Nonghyup Life, stated, "The health of farmers is directly linked to the sustainability of agriculture and rural communities, which is why we are committed to continuing our medical support initiatives. We will persist in providing practical support for the health improvement of rural residents and addressing medical gaps."* This article has been translated by AI. 2026-07-13 16:32:00
  • Hyundai Motor Begins Partial Strike, Production Affected at Ulsan Plant
    Hyundai Motor Begins Partial Strike, Production Affected at Ulsan Plant Hyundai Motor's labor union has initiated a partial strike, leading to production disruptions across all facilities, including the Ulsan plant.On July 13, Hyundai announced in a public disclosure that all its facilities have entered a production halt due to a "partial strike related to collective bargaining."Industry analysts estimate that about half of Hyundai's production lines will be directly or indirectly affected. According to the disclosure, the revenue of the affected facilities was 78.7667 trillion won last year, accounting for 42.29% of Hyundai's total consolidated revenue of 186.2544 trillion won in the same period.The production halt will take place from July 13 to July 15, lasting three days. The union has decided to conduct a partial strike for two hours each day during this period, with the first and second shifts alternating their two-hour strikes.Hyundai plans to minimize production losses through cooperative efforts between labor and management. 2026-07-13 16:32:00
  • KOSPI suffers worst session in months as chip stocks tank
    KOSPI suffers worst session in months as chip stocks tank SEOUL, July 13 (AJP) - South Korea's benchmark KOSPI suffered one of its worst sessions on record Monday as the unwinding of the semiconductor trade that fueled this year's rally turned into panic selling, sending the index below 7,000 points for the first time in more than two months. The index shed 669.01 points or 8.95 percent to close at 6,806.93. The crash, which forced the Korea Exchange to halt trading for 20 minutes, was driven by the same two stocks that had fueled the rally in recent months. SK hynix plunged 15.4 percent to 1,845,000 won (US$1,228) as profit-taking accelerated after its American depositary receipt (ADR) listing last Friday and brokerages cut earnings forecasts, while Samsung Electronics fell 10.7 percent to 254,500 won ($169). Foreign investors dumped another 1.7 trillion won worth of shares as the Bank of Korea was widely expected to raise rates later this week, sending the index below 7,000 points for the first time since early May. A circuit breaker was triggered at 1:28 p.m., suspending all trading on the main board for 20 minutes, marking the seventh such halt this year. A sell-side sidecar had already halted program selling at 10:34 a.m., marking the 35th sidecar activation this year, surpassing the 26 recorded during the 2008 financial crisis. Foreign investors sold a net 1.71 trillion won and institutions offloaded 2.20 trillion won. Individuals bought a net 3.88 trillion won, once again standing as the only buyers amid the market decline. The selling was concentrated in semiconductor stocks. Traders viewed SK hynix's decline as a "sell-the-news" reversal following its record-setting Nasdaq debut, while lower earnings forecasts fueled concerns that the KOSPI’s semiconductor-driven rally had become overheated. The damage spread through the SK and Samsung groups. SK square sank 17.6 percent to 1,161,000 won ($773) and Samsung Electro-Mechanics dropped 18.6 percent to 1,289,000 won ($858). The junior KOSDAQ also fell, losing 38.07 points or 4.55 percent to close at 799.36, slipping below the 800 mark. The rout spread across Asia. The Nikkei 225 in Tokyo fell 1.9 percent, with memory chipmaker Kioxia tumbling 12.9 percent, while Shanghai's composite index dropped about 2 percent. The won weakened slightly against the dollar, trading at 1,502.60 won later in the day. 2026-07-13 16:28:19