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  • Seoul Transforms into a Cultural Refuge Amid Heatwave
    Seoul Transforms into a Cultural Refuge Amid Heatwave This summer, Seoul is transforming into a vast cultural refuge. As temperatures soar above 95 degrees Fahrenheit, the city recorded its highest number of heat-related illnesses last weekend, with 99 cases in a single day. In response, the Seoul Metropolitan Government has organized large-scale summer programs utilizing cultural facilities and parks, allowing residents to enjoy a cool and safe summer without traveling far. From July to August, during the summer vacation period, the city will offer cultural and recreational programs at museums, art galleries, libraries, performance venues, traditional cultural spaces, and parks, targeting children, teenagers, and families. This initiative goes beyond typical vacation programs, emphasizing 'cultural welfare in response to the heat.' The city has significantly expanded indoor cultural facilities where residents can escape the heat and has enhanced evening programs to provide a new model for summer relaxation. Fridays Feature Cool Cultural Spaces Across the CityOne of the main programs is 'Cultural Nights,' held every Friday. Eight cultural venues, including the Seoul Museum of History, Seoul Museum of Art, Hanseong Baekje Museum, Seoul Craft Museum, Seoul Library, Namsangol Hanok Village, Unhyeongung, and the Sejong & Chungmugong Story, will open from 6 PM to 9 PM. The city center, which is hot during the day, will transform into a cultural space that anyone can enjoy for free as the sun sets. Additionally, 223 public libraries in Seoul will serve as summer retreats. Through the 'Libraries are Cool (Off & Library)' campaign, they will offer 1,665 programs, including reading camps, performances, author talks, and special exhibitions, while also providing a safe haven for residents during the heat. Museums Offer Engaging Learning Experiences for ChildrenExperience programs for children during summer vacation will also be significantly expanded. The Hanseong Baekje Museum will host outdoor picnics and moonlight camps, while the Seoul Craft Museum will offer special workshops where children can design their own crafts. The Seoul Museum of History will conduct online history education focused on the Joseon Dynasty and the Office of Special Investigations, while the Seoul Life History Museum and Cheonggyecheon Museum will present educational programs themed around daily life and market culture, respectively. The Seoul Museum of Photography and Buk Seoul Museum of Art will also host a special seminar featuring renowned photographer Martin Parr and modern art programs incorporating advanced technology. Performances Enhance Cultural Sensitivity Through ExperienceThe Sejong Center for the Performing Arts will showcase its contemporary performing arts season 'Sync Next 26,' along with ballet, classical music, children's performances, and backstage tours. The Dream Forest Art Center and the Seoul Foundation for Arts and Culture will also offer various experiential programs focused on theater, dance, music, and traditional performances. The emphasis is on increasing opportunities for direct participation and experience in cultural arts rather than merely observing. Parks Become Summer Playgrounds to Escape the HeatTen major parks in Seoul will transform into natural summer schools.Seoul Forest, Namsan Park, World Cup Park, Seoul Botanical Garden, and Boramae Park will offer a variety of seasonal programs, including night ecological explorations, water play, terrarium making, garden design, insect observation, and archery. Notably, night ecological explorations will allow visitors to observe insects and plants that can only be seen at night, enabling them to enjoy nature while avoiding the midday heat. World Cup Park's Peace Park will also feature a water play area at Nanji Beach. The city emphasizes that this program is not just a summer event but a policy that simultaneously realizes cultural welfare and heatwave response in residents' daily lives. Min Su-hong, head of the Seoul Cultural Headquarters, stated, "Summer vacation is an important time for children and teenagers to experience cultural arts and develop sensitivity. We hope residents can enjoy cool and joyful moments at cultural facilities throughout Seoul, even in the sweltering summer." Kim Young-hwan, director of the Seoul Garden City Bureau, added, "We hope this will be a time for residents to feel, learn, and enjoy nature in nearby parks. We will continue to make parks a seasonal hub for garden leisure activities." 2026-07-13 11:20:00
  • Yoo Byung-ho Appears for Investigation on Audit Misconduct Allegations
    Yoo Byung-ho Appears for Investigation on Audit Misconduct Allegations Yoo Byung-ho, a member of the Board of Audit and Inspection, is under investigation by the second special investigation team led by Special Prosecutor Kwon Chang-young regarding allegations of misconduct in the audit of the presidential residence construction. He stated, "They are constructing a non-existent crime through summons and investigation based on a fictional scenario."The special prosecutor's office began questioning Yoo at 10 a.m. on July 13, as a suspect in a case of abuse of authority.Upon arriving at the special prosecutor's office in Gwacheon at 9:58 a.m., he criticized the investigation, saying, "They are creating a fictional scenario that cannot even be found in movies, dramas, or martial arts novels, using unfair means to indiscriminately conduct searches and summons, thus constructing a non-existent crime."He further asserted, "Those who abuse their investigative powers must be held legally and administratively accountable for all illegal and unjust acts under the fair and just legal order of the Republic of Korea."Yoo is accused of improperly abusing his authority while serving as the Secretary General of the Board of Audit and Inspection during the Yoon Suk-yeol administration to conceal and downplay the audit results related to the relocation of the presidential residence.After his election, former President Yoon Suk-yeol moved the presidential office to the Ministry of National Defense in Yongsan and the residence to the former minister of foreign affairs' residence. Various allegations arose regarding the selection process of the construction company and the costs involved, prompting civic groups to request a national audit, which led to the investigation.In September 2024, the Board of Audit and Inspection released a report on illegal allegations related to the relocation of the presidential office and residence and the use of funds. According to the report, in April 2022, the transition committee and the former minister of foreign affairs' residence were tentatively decided as the relocation site, and the interior construction company 21Gram was selected.The report also noted that the presidential office requested 21Gram to include a small-scale expansion in the construction plans, and 21Gram sought the participation of WonDam Construction, which holds a general construction license, for the expansion work.However, the special prosecutor's office suspects that while presenting WonDam Construction to create a legal facade, all construction work was actually handled by 21Gram, which lacks a construction license. They believe the Board of Audit and Inspection was aware of this during the audit process but intentionally concealed it, misrepresenting that 21Gram was only responsible for the interior work.In a separate statement released that day, Yoo denied all allegations, asserting, "The audit of the residence relocation was the result of all involved personnel risking their positions to uphold the law and principles." He cited that the expansion work handled by WonDam Construction was less than 60 million won out of a total construction cost of 3.1 billion won and argued that the relationship between 21Gram and WonDam Construction cannot be legally viewed as a mere name lending.He criticized the special prosecutor's office for inflating issues by isolating only a small part of the entire project.* This article has been translated by AI. 2026-07-13 11:16:00
  • TSMC Considers Price Increase for Mature Process Products for First Time in Three Years
    TSMC Considers Price Increase for Mature Process Products for First Time in Three Years The global surge in artificial intelligence (AI) demand has led to increased interest in not only advanced processes but also mature process products, including power management integrated circuits (PMICs) and power semiconductors. As a result, Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest foundry, is reportedly planning to raise prices for its mature process products.According to the Economic Daily News on July 13, multiple semiconductor design companies have recently been notified by TSMC that it intends to increase prices for mature processes. The extent of the price increase will vary by customer and product category, with changes expected to take effect in January 2027. Mature processes, often referred to as legacy processes, typically involve semiconductor manufacturing technologies of 28 nanometers (nm) and above, which have stabilized in terms of technology and yield over time.This will mark TSMC's first price increase for mature processes in over three years since the COVID-19 pandemic. The specific amount of the increase is expected to be finalized in the fourth quarter of this year, with industry analysts predicting a single-digit percentage rise.Price increases have already been observed in advanced processes, where TSMC's production capacity has been constrained, leading to rising costs for key processes such as 3nm. This trend is now extending to mature processes as well.Industry insiders attribute the demand for AI semiconductors to a broader expansion beyond advanced processes, including GPUs and high-performance computing (HPC), into the realm of mature processes like power management and power semiconductors.Since the beginning of this year, other foundry companies besides TSMC have also raised prices for mature processes, and packaging and testing firms have followed suit, resulting in increased chip production costs. Consequently, many semiconductor design companies have reportedly raised their chip prices.An industry source stated, "As foundry and packaging/testing costs continue to rise, chip prices cannot remain unchanged. Customers will likely pass on the increased costs to downstream companies." The source expressed concern that this could lead to a chain reaction, potentially exacerbating semiconductor inflation.TSMC is currently in a quiet period ahead of its earnings conference scheduled for July 16 and has not commented on the rumors regarding price increases for mature processes. The company has previously stated that it determines its pricing strategy based on strategic considerations rather than opportunistic ones, emphasizing its commitment to providing value through close collaboration with its customers.* This article has been translated by AI. 2026-07-13 11:16:00
  • Trade Chief Yeo Han-goo Aims to Minimize Trade Uncertainty with U.S.
    Trade Chief Yeo Han-goo Aims to Minimize Trade Uncertainty with U.S. Yeo Han-goo, head of the Trade Negotiation Bureau at the Ministry of Trade, Industry and Energy, stated on July 13 that the South Korean government is responding calmly to U.S. trade issues while aiming to maintain a balance of benefits under the existing Korea-U.S. tariff agreement. He emphasized the need to minimize uncertainties in the trade environment with the U.S. by collaborating with relevant ministries on key issues, including investigations under Section 301 of the Trade Act.Yeo made these remarks while presiding over the 58th Trade Promotion Committee meeting at the Korea Chamber of Commerce and Industry in Seoul. The meeting addressed several topics, including recent U.S. trade issues and response directions, plans for joining the Future Investment Trade Partnership (FIT-P), the status and plans for the Korea-Bangladesh Comprehensive Economic Partnership Agreement (CEPA) negotiations, and initiatives for multilateral Green Economy Agreement (GEPA) negotiations.The government shared recent trends in U.S. tariff policies and conducted a comprehensive review of trade issues with the U.S., covering both tariff and non-tariff aspects. It plans to actively utilize consultation channels with the U.S. to accurately reflect the interests of South Korean companies and ensure close cooperation among relevant ministries to faithfully implement the Korea-U.S. tariff agreement and manage trade issues stably.Regarding FIT-P, Yeo noted, "Participation in the new cooperation framework that encompasses investment and trade is significant for expanding the overseas market base for our companies and securing future growth engines." He mentioned that efforts to promote participation will be made during the ministerial meeting scheduled for July 16-17 in Auckland, New Zealand.He added, "We will carefully examine the impact on our industries during the membership application process and strategically advance the initiative through sufficient communication with relevant ministries and stakeholders."On the CEPA negotiations with Bangladesh, the world’s eighth most populous country, Yeo stated, "This will be an important opportunity to establish a foothold for our companies in South Asia and advance economic cooperation between the two countries." He emphasized the need to focus on reflecting the interests of South Korean companies during the negotiations to establish a stable entry base and achieve mutually beneficial outcomes.Yeo also remarked, "As carbon neutrality and the transition to a clean economy become established as new trade orders, the formation of trade norms in the green economy sector and mutual cooperation are no longer optional but essential." He stressed that GEPA could serve as an important foundation for proactively participating in the formation of future trade norms, enhancing the competitiveness of South Korean companies and expanding opportunities in low-carbon markets.He concluded, "The issues discussed today are key to determining the future competitiveness of our economy in a rapidly changing trade environment. It is necessary to push forward with the implementation plans for each agenda item swiftly to create tangible results that our companies can feel in the field, and I urge continuous cooperation from relevant ministries."* This article has been translated by AI. 2026-07-13 11:16:00
  • Woowa Brothers Hosts Developer Conference and Startup Hackathon
    Woowa Brothers Hosts Developer Conference and Startup Hackathon Woowa Brothers, the operator of Baedal Minjok, announced on July 13 that it held the internal conference 'Woowa Tech Day' and the youth startup support program 'Woowa Baton' at Baemin Startup Square in Pangyo, Seongnam, on July 9 and 10.Woowa Tech Day was the company's first internal technology-related event since its founding. The conference featured presentations on various topics, including practical applications of generative AI tools like Claude and processes for handling obstacles, attended by many developers and non-developers interested in technology.Interactive activities included a 'Prompt Speedrun' competition, an analog mini-game zone, and a search for hidden 'Easter eggs' throughout the venue.The following day, July 10, Woowa Baton took place. A total of 11 teams, including participants and graduates of Baemin's IT talent development program 'Woowa Tech Course' and companies based at Baemin Startup Square, competed to showcase their skills.The hackathon format paired aspiring entrepreneurs with capable Woowa Tech Course trainees to create functional service prototypes within a limited time frame.To ensure the event's impact extends beyond a one-time occurrence, Baemin plans to collaborate with the Gyeonggi Creative Economy Innovation Center to offer follow-up programs, including support for business plan development and advanced lectures.Ko Myung-seok, Chief Technology Officer of Woowa Brothers, stated, "While Woowa Tech Day was a platform to strengthen our internal technical capabilities and culture, Woowa Baton aimed to extend that capability to young talent and the startup ecosystem." He added, "We will continue to play a leading role in the IT and startup market through an ecosystem that encompasses talent development, startup nurturing, and commercialization support."Meanwhile, Woowa Brothers is enhancing its support for startups centered around Baemin Startup Square, providing part of the space to resident companies and startup support organizations for free for ten years to assist the growth of early-stage startups, young entrepreneurs, and social innovators.* This article has been translated by AI. 2026-07-13 11:16:00
  • Lotte Home Shopping Launches K-Brand Export Platform Eeseol in LA
    Lotte Home Shopping Launches K-Brand Export Platform 'Eeseol' in LA Lotte Home Shopping is set to open a large K-beauty and lifestyle pop-up store in Los Angeles, debuting its K-brand export platform 'Eeseol.' This initiative goes beyond a simple overseas promotional event, aiming to connect domestic small and medium-sized enterprise brands with global consumers as the company accelerates its entry into the North American market. From July 17 to August 15, Lotte Home Shopping will operate a K-beauty and lifestyle pop-up store at The Grove, a premier shopping mall in LA, featuring 39 domestic small and medium-sized brands. The event is part of a 'Retail Company Overseas Expansion Support Project' promoted by the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA). The local pop-up space will span 1,887 square meters (approximately 570 pyeong) across two floors. Lotte Home Shopping has themed the event 'Live Seoul' and prominently features its export platform Eeseol. On the first floor, the 'Seoul Beauty' section will showcase over 30 domestic beauty brands offering skincare, color cosmetics, and beauty devices, along with personal color diagnosis and makeup classes. The second floor, 'Seoul Now,' will be a cultural space where visitors can experience Korea's latest lifestyle trends through K-pop classes, K-food, and instant photo sessions. According to market research firm Grand View Research, the U.S. is the largest market in the global cosmetics industry, accounting for 23.9% of the market share. Statistics from the U.S. International Trade Commission (USITC) indicate that Korean cosmetics are projected to reach $1.7 billion in exports to the U.S. in 2024, surpassing traditional powerhouse France, which is estimated at around $1.26 billion. Following the LA pop-up, Lotte Home Shopping plans to open another Eeseol pop-up store in Paris, France, in October. The company aims to expand overseas online and offline sales channels in conjunction with global e-commerce, nurturing a robust export platform for domestic small and medium-sized enterprises. Additionally, prior to the LA pop-up, Lotte Home Shopping will participate in the 'Cosmoprof North America Las Vegas 2026' from July 13 to 15, the largest beauty and cosmetics trade show in North America. The company will support export consultations for over 20 domestic beauty brands and discuss collaboration opportunities with global distribution and retail stakeholders. On July 14, representatives from domestic companies will participate in a panel session titled 'Sustainable Growth and Innovation of K-Beauty in the North American Market,' featuring global retail industry figures such as Ulta Beauty and Orolly. Lee Sang-yong, head of Lotte Home Shopping's Growth Business Division, stated, "We plan to develop Eeseol into a global platform that connects overseas consumers with domestic brands, continuously supporting their international expansion."* This article has been translated by AI. 2026-07-13 11:08:00
  • K-pop boy band Stray Kids to release new album next month ahead of world tour
    K-pop boy band Stray Kids to release new album next month ahead of world tour SEOUL, July 13 (AJP) - K-pop boy group Stray Kids will release a new album next month, their management agency JYP Entertainment said on Monday. Slated for release on Aug. 7, the EP "This & That" features all eight tracks produced by the group's production trio, 3RACHA - Bang Chan, Changbin and Han - including the prerelease single "RUN IT," which dropped on June 24. The trio have written and produced Stray Kids' songs since before the group's official debut, starting with the pre-debut track "Hellevator." Ahead of the album's release, teaser posters featuring the members' individual images have been unveiled one by one. Following the album's release, Stray Kids will embark on their world tour, beginning with five concerts at KSPO Dome in southern Seoul in July and August. They are also scheduled to perform at "Rock in Rio," the biennial music festival in Brazil, in September before bringing their newly launched "STRAYCITY" festival to Latin America, with stops in Bogotá, Buenos Aires and Mexico City. 2026-07-13 11:06:59
  • South Korea and Indonesia Strengthen Cooperation in Marine Plant Industry
    South Korea and Indonesia Strengthen Cooperation in Marine Plant Industry South Korea and Indonesia are enhancing their cooperation in the marine plant industry, focusing on resource recycling and workforce training.The Ministry of Oceans and Fisheries announced on July 13 that it will sign an 'Implementation Agreement for South Korea-Indonesia Marine Plant Service Industry Cooperation' with the Indonesian government on July 14.The two countries previously signed a 'Memorandum of Understanding (MOU) on South Korea-Indonesia Marine Plant Service Industry Cooperation' during a summit on April 1. The upcoming implementation agreement aims to expand the existing MOU into specific business units.Under the agreement, South Korea will retrofit decommissioned Indonesian marine plants into liquefied natural gas (LNG) supply facilities for demonstration purposes. The development and demonstration of carbon-reducing marine plant conversion technology will receive 35 billion won in national funding by 2028. Additionally, South Korea will lead the entire project, from process design to offshore construction.The Indonesian government plans to provide local marine plant-related information and facilitate the issuance of various permits to support the initiative.Furthermore, both countries will accelerate educational cooperation based on official development assistance (ODA) projects. A total of 4.36 billion won will be allocated by 2029 to strengthen Indonesia's capacity in the eco-friendly marine plant service industry. This initiative aims to train local professionals while addressing workforce shortages for South Korean companies.Plans include establishing educational infrastructure at Jakarta Maritime University under Indonesia's Ministry of Transportation to run local training programs. Additionally, medium- to long-term domestic training and corporate internship programs will be implemented to cultivate relevant experts. South Korea will be responsible for budget support and the development and operation of training programs, while Indonesia will handle local trainee recommendations, coordination with relevant agencies, and material support.Seo Jeong-ho, head of the Marine Policy Bureau at the Ministry of Oceans and Fisheries, stated, 'By signing this implementation agreement, we will clarify the roles and project promotion systems of both countries and create visible cooperation outcomes.' He added, 'Based on this successful cooperation model with Indonesia, we plan to expand our collaboration with major Southeast Asian countries such as Vietnam and Malaysia.'* This article has been translated by AI. 2026-07-13 11:04:00
  • South Koreas Industry Ministry Gathers Business Input for EU Supply Chain Guidelines
    South Korea's Industry Ministry Gathers Business Input for EU Supply Chain Guidelines The South Korean government is taking a public-private approach to incorporate domestic business feedback into the European Union's (EU) Supply Chain Due Diligence Directive (CSDDD) implementation guidelines.On July 13, the Ministry of Trade, Industry and Energy held a joint meeting with relevant agencies and major companies to discuss strategies for responding to the EU CSDDD guidelines.The CSDDD imposes due diligence obligations on companies to prevent and manage human rights and environmental risks throughout their supply chains. The EU Commission is developing detailed implementation guidelines to reduce confusion among businesses as member states begin to enforce the directive, which took effect in March.The guidelines are expected to include due diligence procedures, risk assessment criteria, and standard contract clauses. The EU Commission has been conducting a public consultation with stakeholders from businesses, academia, and civil society from June 12 to June 24. The guidelines, reflecting the results of this consultation, are anticipated to be published in July 2027.The CSDDD will impact not only companies directly operating in the EU but also their global supply chain partners. Key domestic industries, such as automotive, battery, and electronics, face complex supply chains from raw material procurement to parts production and logistics. If the due diligence standards are overly stringent, the burden of documentation and contract management could increase significantly.In particular, the standard contract clauses and risk assessment criteria may effectively shift compliance requirements onto small and medium-sized enterprises that partner with larger corporations.In response, the Ministry plans to prepare a government opinion letter based on the feedback gathered during this meeting to submit to the EU.Kim Jang-hee, the Ministry's Director of New Trade Strategy Support, stated, "The guidelines to be announced next year will serve as a crucial benchmark for the legislative direction of EU member states. We will actively present opinions to the EU that can minimize the due diligence burden on our companies."* This article has been translated by AI. 2026-07-13 11:04:00
  • Ministry of Agriculture Recognized as Top Agency for Disaster Management
    Ministry of Agriculture Recognized as Top Agency for Disaster Management The Ministry of Agriculture, Food and Rural Affairs has significantly enhanced its disaster management capabilities in the agricultural sector, particularly in response to worsening conditions due to climate change. On July 13, the ministry announced that it was recognized as the top agency in the '2026 National Safety Management Plan Evaluation' conducted by the Ministry of the Interior and Safety. After receiving a 'normal' rating last year, the ministry achieved the highest rating this year, reflecting an advancement in its disaster management system.The evaluation assesses the performance of disaster and accident response measures, financial investment plans, and capacity-building strategies based on ten indicators. The Ministry of Agriculture received high scores for its comprehensive approach, which includes establishing and implementing measures for various types of disasters and analyzing the results.Additionally, the ministry earned an 'excellent' rating in a separate disaster management evaluation aimed at identifying institutional responsibilities and enhancing capabilities. The evaluation highlighted the ministry's effective response systems and crisis management manuals for key disasters, including livestock infectious diseases, reservoir accidents, and wholesale market incidents.These achievements are attributed to the ministry's organizational restructuring aimed at strengthening disaster response capabilities. In August of last year, the ministry revised two disaster-related laws to enhance national responsibility for disaster management and established the 'Rural Income and Energy Policy Office' and the 'Agricultural Disaster Support Team' in December to create a robust disaster management framework.Kang Dong-yoon, Director of the Rural Income and Energy Policy Office, stated, "As disasters in the agricultural sector are increasingly exacerbated by climate change, it is crucial for the government and related agencies to respond effectively. The government will continue to expand its organization and personnel to minimize damage to the lives of farmers and their crops, livestock, and facilities."* This article has been translated by AI. 2026-07-13 11:04:00