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  • Education Officials Unite Against Proposed Cuts to Local Education Funding
    Education Officials Unite Against Proposed Cuts to Local Education Funding As pressure mounts from the government to reform local education funding, superintendents from 16 provinces across South Korea gathered to issue a statement opposing the proposed cuts. They criticized the government's attempt to reduce education budgets solely based on the declining school-age population, arguing it undermines the constitutional values of education in the country. The Korea Education Superintendents Association, led by Chairman Jeong Geun-sik, convened an emergency meeting on July 10 at their headquarters in Sejong to announce their commitment to protecting local education funding for the stable development of future education. This emergency meeting was organized following a discussion on funding reforms held by the Ministry of Education and the Ministry of Strategy and Finance on July 8, ahead of a national fiscal strategy meeting scheduled for mid-July. Currently, two main proposals for funding reform are under discussion within the government. The Ministry of Education is considering maintaining the current 20.79% linkage rate to national tax revenues while setting a cap on excess funds to be allocated to other sectors such as higher education and early childhood education. In contrast, the Ministry of Strategy and Finance is pushing for a more aggressive reduction plan that would eliminate the 20.79% linkage system altogether, recalibrating funding based on economic growth rates and changes in the school-age population. Before the meeting, Chairman Jeong expressed a grave sense of urgency, stating, "The funding system that has supported public education in South Korea for over 50 years is at a critical turning point." He noted, "While the number of students is decreasing, the responsibilities of public education are increasing in areas such as basic skills, mental health, special education, multicultural education, digital transformation, and integrated early childhood education. Instead of cutting education funding, we need to expand and redesign it to meet future educational needs." In their statement, the association directly criticized the Ministry of Strategy and Finance's attempts to change the funding calculation method. They emphasized, "Education is not merely a matter of financial efficiency; it concerns the autonomy of education as outlined in Article 31 of the Constitution. If the funding calculation method is subject to the discretionary judgment of financial authorities each year, the stability of education funding will inevitably depend on the state of national finances that year." Regarding the argument of a declining school-age population, they stated, "Just as we cannot simply reduce defense spending because of a decrease in military personnel, using the declining school-age population as a direct justification for cutting education funding oversimplifies the complex realities of education." They called for the stable maintenance of the 20.79% tax revenue linkage rate. The association also countered claims for increased investment in early childhood and higher education, asserting that local education offices are already investing significant resources in these areas. They welcomed the government's direction to expand investments in early childhood, higher, and lifelong education but insisted that this should not undermine the 20.79% linkage rate. They stressed that if the scope of responsibility is to be broadened to include early childhood, out-of-school youth, and higher and lifelong education, a national consensus on authority and funding must precede it. Finally, the association noted, "Voices from teacher and parent organizations are already coalescing against the funding reform," urging the government to maintain the current 20.79% tax revenue linkage rate, establish practical consultation procedures with local education offices regarding funding reforms, and prioritize the intrinsic values of education over financial efficiency in decision-making.* This article has been translated by AI. 2026-07-10 14:40:00
  • Hanmi Pharmaceuticals Melanoma Drug Belvarafenib Advances in Phase 2 Trials
    Hanmi Pharmaceutical's Melanoma Drug 'Belvarafenib' Advances in Phase 2 Trials Hanmi Pharmaceutical is making steady progress in the Phase 2 clinical trials of its melanoma treatment, Belvarafenib. The company announced on July 10 that it presented the design and current status of the Phase 2 trial for Belvarafenib at the 52nd Annual Meeting of the Korean Cancer Association (KCA 2026), held on June 25-26 at the Grand InterContinental Seoul Parnas. Belvarafenib is an oral targeted cancer therapy developed by Hanmi Pharmaceutical that inhibits the RAS dimer in the mitogen-activated protein kinase (MAPK) pathway, which is involved in tumor cell growth. Melanoma is a challenging cancer with limited treatment options and a high risk of recurrence. NRAS mutant melanoma, in particular, is known for its aggressive tumor invasiveness and high metastatic potential, with a shorter survival rate, yet there is currently a lack of standard treatments. NRAS mutations are found in approximately 15-25% of all melanoma patients. In global Phase 1 trials, Belvarafenib demonstrated significant antitumor activity in patients with NRAS and BRAF mutations, confirming its potential. Based on these results, follow-up clinical trials are currently underway in Korea targeting patients with NRAS mutant melanoma. The ongoing Phase 2 trial in Korea is a multicenter, single-arm study evaluating the efficacy and safety of the combination therapy of Belvarafenib and the MEK inhibitor, Cobimetinib, in patients with locally advanced or metastatic melanoma harboring NRAS mutations. The company expects this combination therapy to address the limitations of existing BRAF and MEK inhibitor combination treatments and to sustain therapeutic effects across a broader range of genetic mutation patient populations. The trial has been ongoing since the first patient was registered in February, with patient enrollment continuing across 10 research institutions nationwide. Hanmi Pharmaceutical plans to complete the registration of a total of 45 patients by 2027 and will apply for conditional approval in Korea in 2028 based on the Phase 2 trial results. Meanwhile, analysts predict that the company will exceed market expectations with its second-quarter performance. Hana Securities estimates that Hanmi Pharmaceutical's consolidated revenue for the second quarter will increase by 36.2% year-on-year to 492 billion won, with operating profit expected to rise by 101.0% to 121.5 billion won. The operating profit margin is projected to be 24.7%. This increase is attributed to the one-time revenue recognition of approximately 112.9 billion won from the upfront payment received from Eli Lilly for the obesity treatment candidate, Sonapeglutide. * This article has been translated by AI. 2026-07-10 14:40:00
  • Legislative Committee Begins Discussion on Abolishing Prosecutorial Supplementary Investigation Rights
    Legislative Committee Begins Discussion on Abolishing Prosecutorial Supplementary Investigation Rights The National Assembly's Legislative Judiciary Committee has begun reviewing a bill aimed at abolishing the prosecutorial supplementary investigation rights. A related amendment to the special investigation law, which expands the duration and personnel for the second comprehensive special investigation, has passed the bill subcommittee.On July 10, the committee's first bill subcommittee convened to review three proposed amendments to the criminal procedure law, submitted by lawmakers Kim Yong-min, Park Eun-jung, and Cha Kyu-geun.Kim Seung-won, the subcommittee chair and a member of the ruling Democratic Party, told reporters after the meeting, "The content of the amendments is extensive and procedurally complex, so we proceeded by receiving a report from the chief expert and examining the overall framework."The subcommittee focused on reviewing key issues, including the elimination of prosecutors' investigative powers, the relationship between prosecutors and judicial police officers, the prosecutors' authority over special judicial police investigations, and the principles and compliance requirements for investigations. Rather than voting on each clause, the emphasis was on understanding the overall structure and issues of the amendments.Kim stated, "We have gathered opinions from civic groups, academia, police, prosecutors, and the National Investigation Agency, and we will reflect these in the criminal procedure law amendments."The committee plans to hold two additional subcommittee meetings early next week to focus on the review of the criminal procedure law amendments. Kim added, "We will expedite the review as much as possible, and if necessary, we will work through the night and postpone other schedules to concentrate on the bill review."The Democratic Party aims to complete the relevant legal adjustments before the launch of the Public Prosecution Service and the Serious Crimes Investigation Agency on October 2. Seo Young-kyu, chair of the Legislative Judiciary Committee, remarked, "The criminal procedure law needs to be established to prepare the enforcement decree, but time is limited. We will conduct the review swiftly while also filling in the content."However, there are voices within the Democratic Party advocating for retaining some supplementary investigation rights. Lawmaker Hong Gi-won announced plans to propose a bill that includes provisions for maintaining supplementary investigation rights. Kim indicated that if this bill is introduced, it may be reviewed in conjunction with the existing amendments.Additionally, the subcommittee approved the second comprehensive special investigation law amendment, which extends the special investigation's activity period by 30 days and adds interference with audits to the list of investigation targets.The amendment also establishes a basis for appointing lawyers with over five years of legal experience to maintain prosecutions for the special investigation. The Ministry of National Defense has been added to the list of requesting agencies, and the number of dispatched officials has been increased from 130 to 150.Members of the People Power Party boycotted the meeting in protest of the Democratic Party's unilateral selection of committee and special committee chairs in the 22nd National Assembly's second half. The People Power Party opposes the abolition of prosecutorial supplementary investigation rights and is considering proposing legislation to retain or replace them.* This article has been translated by AI. 2026-07-10 14:32:00
  • Peptron Shares Plunge Nearly 30% Amid Concerns Over Eli Lilly Collaboration
    Peptron Shares Plunge Nearly 30% Amid Concerns Over Eli Lilly Collaboration Peptron's stock has sharply declined amid concerns regarding its collaboration with Eli Lilly. As of 1:26 PM on July 10, shares of Peptron were trading at 111,900 won, down 47,400 won (29.76%) from the previous trading day. At the start of the session, the stock fell to the lower limit of 111,600 won. The market reaction is attributed to comments made by Peptron CEO Choi Ho-il, which were interpreted as dampening expectations for the development of a monthly GLP-1 obesity treatment. During the Shinhan Bio Forum held the previous day, Choi stated that “Tirzepatide is not included” in the collaboration with Eli Lilly. Tirzepatide is the active ingredient in Lilly's obesity and diabetes treatments, Mounjaro and Zepbound. In response, Peptron clarified that the recent controversy stemmed from a misunderstanding, as only certain aspects of the collaboration were highlighted, rather than the entire scope. The ongoing research is not focused on a single commercial product but is proceeding as planned across multiple pipelines. Meanwhile, Peptron entered into a Material Transfer Agreement (MTA) with Eli Lilly in October 2024 to conduct joint research. This study aims to verify the potential for developing a long-acting formulation using smart depot technology applied to Eli Lilly's peptide candidates.* This article has been translated by AI. 2026-07-10 14:28:00
  • DAY6s Young K to drop 2nd solo album later this month
    DAY6's Young K to drop 2nd solo album later this month SEOUL, July 10 (AJP) - Young K of K-pop band DAY6 will release his second full-length solo album later this month, his management agency JYP Entertainment said on Friday. "YOUNGEST," due out on July 27, will be Young K's first solo release since his debut full-length album "Letters with notes" in September 2023. To promote the album, Young K will stage a three-day concert series in Incheon from Aug. 14 to 16, marking his first solo concerts in nearly three years. JYP Entertainment has already begun promoting his upcoming album with teaser photos and posters, with more details about the album and the concerts to be unveiled later. Young K debuted as a member of the quartet in 2015 and has served as the band's bassist and a key songwriter, writing or co-writing a number of the group's songs. 2026-07-10 14:18:48
  • Defense Ministry: Allegations Against Minister Ahn Kyu-baek Are False
    Defense Ministry: Allegations Against Minister Ahn Kyu-baek Are False The Defense Ministry stated that allegations suggesting Minister Ahn Kyu-baek deserted his post while serving as a short-term defense soldier are "clearly false." The ministry announced plans to request a correction of his military records once his term concludes. A ministry official spoke to reporters on July 10, saying, "If we request a correction while he is still in the position of defense minister, it could lead to further controversy. Therefore, we plan to make the request and take additional actions once he returns to a private status after completing his duties." In response to calls for Minister Ahn to disclose his military records to dispel the allegations, he explained, "If I were to reveal a record that is incorrect from 40 years ago, it would only leave the wrong information in people's minds, regardless of the facts. It would only exacerbate misunderstandings, which is why I have chosen not to disclose it." Minister Ahn's service period as a defense soldier is recorded as 22 months, rather than the originally stated 14 months. This discrepancy led to allegations from opposition parties during last year's confirmation hearing regarding his supposed desertion or confinement. He enlisted as a defense soldier in November 1983 and was discharged in August 1985, according to his military records. Ahn explained during the confirmation hearing that this situation arose while he was under investigation by military authorities for providing lunch to active-duty soldiers at his home. After serving for 14 months, he was discharged on January 4, 1985, and returned to university that same year. However, he received a notice to complete additional service, which he fulfilled during the summer break, leading to the final service date being recorded as his discharge date. Ahn stated during the confirmation hearing, "I received a call from the unit indicating that I needed to serve a few more days, so I completed the remaining service during the summer break." The ministry official emphasized, "While Minister Ahn mentioned during the hearing that he was investigated for a few days, he did not face any detention or other penalties. This is why he has consistently claimed to be a victim of administrative errors in his military records." The allegations regarding Ahn's supposed desertion have resurfaced recently amid public backlash against the government's defense policies, including the integration of military academies for the Army, Navy, and Air Force, becoming a focal point for opposition parties. 2026-07-10 14:04:00
  • Government to Address Renewable Energy Grid Access Issues with ESS
    Government to Address Renewable Energy Grid Access Issues with ESS The government is set to tackle grid access challenges in renewable energy-rich regions such as Honam and Jeju by advancing the distribution network energy storage system (ESS) project. This initiative aims to enhance the capacity of existing power grids without the need for new distribution lines, utilizing ESS as a buffer.On July 10, the Ministry of Climate, Energy, and Environment announced the commencement of the 'Distribution Network ESS Support Project' by signing a memorandum of understanding with nine selected companies at the Korea Electric Power Corporation's Gyeongin Construction Headquarters. The project aims to reduce grid constraints on renewable energy, particularly in Honam, and expedite the connection of solar power plants awaiting grid access.In regions like Honam and Jeju, where renewable energy is concentrated, the capacity of substations and distribution lines has reached saturation, leading to instances where new solar power facilities cannot connect to the grid and existing plants must reduce output based on grid conditions.In response, the government announced a plan in July 2022 to establish a 'Korean-style next-generation power grid' and secured 558.6 billion won in national funding from 2026 to 2030 to develop alternatives based on distribution network ESS. The newly introduced project will install ESS directly on distribution lines to increase power capacity without expanding the grid.Specifically, the project will install a 4MW, 20MWh ESS at one distribution line to facilitate the early connection of an additional 5.7MW of solar power that is currently awaiting grid access. During peak solar hours, the ESS will store energy to alleviate the burden on the distribution network, and during high demand or when grid capacity is available, it will discharge stored energy to enhance the existing grid's capacity.The ministry plans to deploy approximately 700MW of ESS by 2030, enabling an additional 1GW of renewable energy to connect to the grid. This is expected to allow for the generation of an additional 1,350GWh of solar energy annually, averaging 3.7GWh per day.In the first round of applications, a total of 14 integrated power plant operators submitted requests for 82 distribution lines. Ultimately, nine companies, including VPP Lab, LG Energy Solution, KEPCO KDN, SK Eteronics, HD Hyundai Electric, GridWiz, Korea East-West Power, Korea Central Power, and Hyundai Engineering & Construction, were selected. They will establish 128MW, 640MWh of ESS across 32 distribution lines, facilitating the connection of an additional 182.4MW of solar power that is currently awaiting access.The ministry also plans to encourage the entry of next-generation batteries with advantages in long life, long duration, and fire safety in future applications. The next round of applications is scheduled for August, targeting about 50 distribution lines on the mainland and seven in Jeju, with around 20 lines expected to be selected.This initiative highlights that the bottleneck in expanding renewable energy is not merely a lack of generation capacity but rather insufficient grid capacity. Even as solar installations increase, if the distribution network cannot accommodate them, delays in connection and output control will persist. The approach of directly integrating ESS into the distribution network serves as a short-term solution that minimizes the time and community acceptance issues associated with expanding transmission and distribution networks.Minister of Climate, Energy, and Environment Kim Sung-hwan stated, "This project will directly address the grid access issues that have been bottlenecking the distribution network and serve as a milestone in paving a new path for renewable energy. We will establish a system that integrates ESS and renewable energy to stabilize the power system and expedite the era of renewable energy as a primary power source."* This article has been translated by AI. 2026-07-10 14:04:00
  • Korean Government Supports Return of 20 Overseas Korean Tech Teams with K-Tech Pioneers Initiative
    Korean Government Supports Return of 20 Overseas Korean Tech Teams with K-Tech Pioneers Initiative The Ministry of Science and ICT and the National IT Industry Promotion Agency announced the launch of the 'K-Tech Pioneers (KTP)' initiative on July 10, aimed at supporting the return and collaboration of 20 teams of overseas Korean tech talent in fields such as artificial intelligence (AI), biotechnology, and aerospace.KTP is a program designed to attract top talent in national strategic technology sectors. It facilitates the return of highly skilled Korean professionals who have proven their capabilities abroad, helping them to settle into South Korea's advanced industrial ecosystem. Since the first half of this year, recruitment efforts have included roadshows and global networking nights in major cities like Singapore, Seattle, and Sydney.A total of 20 teams have been selected for the initiative, with 10 teams from the western United States, 6 from the eastern United States, and 4 from Asia. The AI sector represents the largest portion of the selected teams, which also include groups focused on robotics and manufacturing AI, advanced biotechnology, and aerospace.Approximately 100 attendees participated in the event, including representatives from domestic demand companies such as Hyundai Motor Group, LG Science Park, SK Innovation, Toss, and Kakao Mobility, as well as venture capitalists and corporate venture capital representatives.The Ministry of Science and ICT and NIPA plan to provide comprehensive support for the selected teams to establish themselves in South Korea. The teams will collaborate with major domestic companies on technology concept verification (PoC) and joint research and development, receiving assistance for technology commercialization. They will also have access to legal, patent, and accounting consulting, as well as investment attraction through connections with venture capital and corporate venture capital, and financial support from the Korea Credit Guarantee Fund to ensure sustainable growth.Park Tae-wan, Director of the Ministry of Science and ICT's Information and Communication Industry Policy Bureau, expressed hope that the orientation would serve as a starting point for tangible technological collaboration and business outcomes between the selected teams and domestic demand institutions.* This article has been translated by AI. 2026-07-10 14:04:00
  • Ruling Party Calls for Thorough Investigation into Jang Yoon-ki Case
    Ruling Party Calls for Thorough Investigation into Jang Yoon-ki Case Members of the Administrative Safety Committee of the Democratic Party visited the Seoul Police Agency on July 10 to urge a thorough investigation into the Jang Yoon-ki case. The incident involves the police referring Jang for simple murder charges, while the prosecution has uncovered a potential cover-up involving power dynamics through supplementary investigation rights, drawing nationwide attention.After a discussion with Acting Chief Yoo Jae-sung, Kim Young-jin, the committee chair, told reporters, "We requested an investigation into the police's destruction of evidence and negligence in this case." The meeting included ruling party members such as Lee Hae-sik, Kim Young-bae, Kim Young-ho, Park Joo-min, Lim Ho-sun, Yoon Geon-young, and Lee Sang-sik.Kim emphasized, "We must investigate all individuals involved in this case without exception, regardless of their status," adding that they discussed the need to uncover the truth regarding the father and uncle of the detained head of the violent crimes unit.He further stated, "Recognizing the seriousness of this being an internal police matter, we must mobilize all investigative resources to uncover the truth from start to finish." He also called for a detailed investigation into how investigative secrets were leaked during the ongoing investigation, including all individuals connected to the Gwangju Police Agency and Gwangju Gwangsan Police Station.Additionally, he expressed the need for accountability, stating, "This cannot be covered up under the pretext of being an internal police matter, and we must thoroughly address all public suspicions." 2026-07-10 14:04:00
  • Koreas Content Agency to Diversify Support for Game Production and Distribution
    Korea's Content Agency to Diversify Support for Game Production and Distribution Kim Yoon-ji, head of the Korea Creative Content Agency, announced on July 9 that the agency will diversify its support methods, including not only production assistance but also marketing and distribution support.During a meeting held at the Global Game Hub Center, Kim stated, "We will continue to strengthen the growth foundation of the game industry and work to create a game ecosystem that promotes the spread of K-culture through ongoing communication with the field." This meeting was organized to gather voices from the game industry and develop effective support measures, with representatives from game-related associations such as the Korea Game Industry Association and the Korea Mobile Game Association, as well as key small game companies in attendance.Participants unanimously agreed that the agency's support should be more diverse. Bae Soo-jung, CEO of Road Complete, emphasized the need for support that allows small teams to develop intensively and experiment with various ideas.After the meeting, Kim met with representatives from resident companies at the Global Game Hub Center. Kim Young-woong, CEO of Super Rabbit Games, expressed hope that policy financing support, including investment and loans, would be expanded to allow companies to focus on stable development. Resident companies shared their challenges in game distribution, securing investment, and entering overseas markets.* This article has been translated by AI. 2026-07-10 14:00:00