AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • 75% of Small and Medium Enterprises Lack Legal Support
    75% of Small and Medium Enterprises Lack Legal Support Three out of four small and medium enterprises (SMEs) lack dedicated legal teams or personnel, according to a recent survey. Despite rapid changes in laws and regulations, many companies struggle to keep up and respond effectively.On July 8, the Korea Chamber of Commerce and Industry released findings from a survey of 300 SMEs, revealing that 75.3% of respondents do not have dedicated legal departments or staff.The most common response, at 35.3%, indicated that companies rely on external consultants as needed. Additionally, 22.7% reported that staff from other departments handle legal tasks, while 17.3% stated they have no legal response system in place. Only 14.0% of companies reported having both a dedicated legal team and personnel, while 10.7% have only dedicated staff.There is a notable disparity based on company size. Among small enterprises, 83.5% do not have dedicated legal teams or personnel, while 59.0% of medium-sized enterprises also lack separate legal response systems. Smaller companies are thus more vulnerable to legal risks.Companies are also slow to recognize new laws and regulations. When asked when they typically become aware of new or amended laws, 52.7% of respondents said they only learn about them after implementation. In contrast, 33.6% reported being aware during the grace period, while only 13.7% monitor changes from the legislative announcement or National Assembly review stages.This delay in recognizing legal changes has led to actual penalties. About 17.0% of respondents reported experiencing fines or administrative sanctions for failing to comply with laws and regulations in the past three years. In contrast, 71.7% said they had not faced such issues, while 11.3% were unsure.Responses related to a lack of legal awareness or misinterpretation accounted for 43.1%. The most common reason for penalties was that compliance was difficult due to industry practices, cited by 33.3% of respondents. Additionally, 31.3% indicated they misinterpreted the applicability or implementation methods, while 11.8% were unaware of new or amended laws.The area where companies feel the most burden in legal compliance is labor and employment, with 63.3% citing this as a concern. Other significant areas include industrial safety at 38.3%, fair trade and subcontracting at 31.7%, and tax and taxation at 29.0%.To enhance their legal compliance capabilities, SMEs identified the need for tailored legal guidelines as a key policy initiative. Among multiple responses, 51.0% called for the development of customized legal guidelines and implementation manuals for SMEs. Other suggestions included ensuring sufficient grace periods and strengthening advance notifications at 47.0%, expanding low-cost legal consultation and advisory services at 44.3%, increasing training and seminars on legal compliance strategies at 29.0%, and providing consulting support for establishing compliance systems at 18.0%.The Korea Chamber of Commerce and Industry stated, "Many SMEs are either unaware of new laws and amendments or misinterpret their applicability and implementation methods. A lack of awareness of legal regulations can lead to unintended violations, highlighting the need for clear legal interpretation guidelines and increased outreach tailored to the field."This survey was conducted via phone, email, and fax from May 21 to 29, involving 200 small enterprises and 100 medium-sized enterprises.* This article has been translated by AI. 2026-07-08 12:04:00
  • National Tax Service Launches Delinquency Management Teams Across 133 Offices
    National Tax Service Launches Delinquency Management Teams Across 133 Offices The National Tax Service (NTS) has established delinquency management teams at 133 tax offices nationwide to verify the status of individuals who owe national taxes and other fees, including fines and penalties. The verification will target a total of 5.58 million individuals, comprising 1.34 million national tax delinquents and 4.24 million individuals with outstanding non-tax revenue.On July 8, the NTS announced the formation of a nationwide 'National Tax and Non-Tax Revenue Delinquency Management Team' and the launch of a field-based verification system for delinquents.The delinquency management teams will operate from July 8 until December 23, using the 133 tax offices as their bases. They will provide guidance on delinquency and payment methods through phone consultations and, if necessary, visit the addresses or businesses of delinquents to assess their living conditions.Previously, the collection of non-tax revenue delinquencies was handled individually by various government departments. With the launch of the delinquency management teams, the NTS will also manage delinquencies related to national taxes, fines, penalties, and compensation fees. The government is working to centralize the management of non-tax revenue delinquencies under the NTS this year, with the verification of delinquents serving as a preliminary step. The verification process will begin with fines from the National Police Agency.The NTS has emphasized that the operation of the delinquency management teams will focus on 'customized delinquency management' rather than mere collection. They plan to assess the economic circumstances and living conditions of delinquents and implement different follow-up measures based on their situations.For those facing financial difficulties, the NTS will provide information on the expiration of payment obligations for national tax delinquencies and facilitate connections to welfare services. Delinquents experiencing temporary cash flow issues will be offered opportunities to repay their debts in installments.Conversely, the NTS will conduct investigations on national tax delinquents who intentionally avoid payment even after the verification process.Delinquents wishing to settle their debts can utilize various payment methods based on the type of delinquency. National tax delinquencies can be paid through the NTS's Home Tax service or online banking, while fines from the National Police Agency can be checked and paid via the Traffic Civil Service 24 website.Other non-tax revenues, such as compensation fees and penalties, can be paid by checking the electronic payment number on the billing statement from the relevant agency or by contacting that agency directly.To support the operation of the delinquency management teams, the NTS has hired a total of 5,500 verification personnel, including 2,500 for national tax delinquencies and 3,000 for non-tax revenue delinquencies. The average competition rate for these positions was 4.5 to 1.The verification personnel underwent training from July 1 to July 7 on taxpayer engagement techniques, confidentiality obligations, and other essential fieldwork skills. NTS Commissioner Lim Kwang-hyun visited the training site on July 3 at KINTEX in Goyang, Gyeonggi Province, to explain the roles and vision of the delinquency management teams.Commissioner Lim stated, “The delinquency management teams will have a multifaceted impact, including tax justice, securing finances, creating jobs, managing delinquencies, and connecting to welfare services. The NTS will do its utmost to support the verification personnel so they can take pride in their work.”In a video message during the nationwide tax office launch ceremony, he urged the delinquency management teams to take pride in their roles and to fulfill their responsibilities diligently, noting that the results they achieve will serve as foundational data for future delinquency management.* This article has been translated by AI. 2026-07-08 12:04:00
  • Digital Industry Revenue Reaches 1,378 Trillion Won in 2024 Amid AI Expansion
    Digital Industry Revenue Reaches 1,378 Trillion Won in 2024 Amid AI Expansion South Korea's digital industry revenue reached 1,378 trillion won in 2024, accounting for over 15% of total industrial revenue. The growth was driven by increased investment in artificial intelligence (AI) and a rise in information and communication technology (ICT) exports, with companies' digital maturity surpassing 75%. The rapid adoption of AI in business operations and decision-making is marking a significant shift in the industry.According to the '2025 Digital Industry Survey' released on July 8 by the Ministry of Science and ICT and the Korea Information Society Development Institute (KISDI), the digital industry revenue in 2024 increased by 9.3% compared to the previous year. This revenue represented 15.2% of total industrial revenue, exceeding half of the manufacturing sector's total revenue.The survey was conducted from September to December last year, covering 10,323 businesses nationwide.The digital maturity level, which indicates the extent of organizations' use of digital technologies, was reported at 75.4%, an increase of 10.8 percentage points from the previous year. The stages of digitalization and digital transformation were recorded at 67.7% and 7.7%, respectively.By sector, revenue from digital-based industries grew by 15.6% to 615.8 trillion won, driven by global AI investment and increased ICT exports, particularly in semiconductors.Revenue from digital platform services rose by 15.2% to 152.4 trillion won, with e-commerce platform services (29.0%), portal services (23.3%), and video, audio, and information content services (22.4%) leading the growth. The revenue structure was primarily composed of commissions (42.6%), direct sales (36.8%), advertising (9.8%), and subscription fees (9.1%).Revenue from industries utilizing digital intermediary platforms reached 214.1 trillion won, a 14.3% increase from the previous year. Among these businesses, 91.9% used two or more platforms simultaneously, and 46.4% were present on four or more platforms. However, 60.2% cited increased costs associated with using multiple platforms as a significant challenge. In the accommodation and food service sector, the adoption of kiosk ordering (28.9%) and payment systems (26.2%) expanded, while robot serving and customer service remained low at 0.4%, indicating that on-site automation is still in its early stages.Conversely, revenue from digital-related industries decreased by 3.1% to 396.1 trillion won. This decline was attributed to the expansion of sales channels for digital retail businesses centered on their own online shopping malls.The adoption of digital technologies by companies is increasingly centered around AI. Over the past three years, the most commonly developed or adopted technologies were cloud computing (52.0%), artificial intelligence (43.5%), and big data (29.1%). The proportion of companies using AI for decision-making and sales activities rose significantly to 24.9%, up from 15.5% the previous year, indicating a rapid spread of AI transformation across industries.Lee Do-kyu, Director of the Information and Communication Policy Bureau at the Ministry of Science and ICT, stated, “The continuous increase of over 100 trillion won in digital industry revenue each year demonstrates that digital transformation is actively spreading across our industries. The government will systematically promote related policy support to ensure that no member of our society is left behind in this change.”In 2023, the digital industry revenue was 1,261 trillion won, accounting for 14.5% of total industrial revenue (8,696 trillion won), marking a 10.5% increase from the previous year (1,141 trillion won). 2026-07-08 12:04:00
  • KDI Reports Gradual Improvement in South Korean Economy Amid Semiconductor Growth
    KDI Reports Gradual Improvement in South Korean Economy Amid Semiconductor Growth South Korea's economy is showing signs of gradual improvement, driven by strong semiconductor exports and a robust service sector, according to a report from the Korea Development Institute (KDI). However, the manufacturing sector is experiencing production adjustments, particularly in industries such as automotive and petroleum refining.In its July economic trends report released on August 8, KDI noted that while semiconductor production had previously surged, it is now stabilizing, leading to a slight overall decline in manufacturing output. A KDI official stated, "Exports have continued to rise significantly, particularly in ICT products like semiconductors, thanks to strong demand related to AI. Investment in the semiconductor sector also remains healthy." The official added that production in the service sector, particularly in finance, insurance, and professional scientific services, has been robust, supporting overall industrial production growth.In May, total industrial production maintained a similar growth rate to the previous month, decreasing slightly from 2.4% to 2.3%. Notably, service sector production increased by 4.9%, with finance and insurance growing by 10.4% and professional, scientific, and technical services rising by 17.5%.Conversely, manufacturing output saw a significant drop in semiconductor production, which fell from 13.3% to 1.5%. Additionally, automotive production decreased by 5.2% due to a fire at a parts supplier, while petroleum refining and chemical products also reported declines of 14.7% and 2.8%, respectively, due to unstable crude oil supply.Consumer spending showed signs of gradual improvement, with the retail sales index rising from 1.6% to 1.7% in May. This increase is attributed to government support policies that have boosted both durable and non-durable goods. However, high oil prices and exchange rate fluctuations continue to pose inflationary pressures, raising concerns about the sustainability of consumer spending growth.Investment in facilities increased significantly from 7.9% to 9.7% in May, driven by strong semiconductor performance. Notably, investment in machinery, particularly for semiconductor manufacturing equipment, surged by 75.9%, contributing to the overall increase in facility investment. However, other sectors, such as general industrial machinery and electrical and electronic equipment, showed declines of 3.0% and 1.2%, respectively.Construction investment remains sluggish, particularly in residential building, which has struggled to recover from negative growth. In May, construction output fell from -5.3% to -1.9%, continuing the downward trend due to ongoing weakness in residential construction.On a positive note, exports continue to rise, particularly in ICT products. Last month, exports surged by 70.9%, with semiconductors increasing by 179.6% and computers by 281.6%. Imports also rose by 30.1%, driven by an increase in energy resources by 41.8%, while semiconductor equipment imports grew by 41.3%. 2026-07-08 12:04:00
  • Jung Jeom-sik Advocates for Retention of Prosecutorial Supplementary Investigation Rights
    Jung Jeom-sik Advocates for Retention of Prosecutorial Supplementary Investigation Rights 정점식 국민의힘 원내대표는 8일 정성호 법무부 장관을 만나 "검찰의 보완수사권을 반드시 존치해야 한다"고 주장했다. 정 원내대표는 이날 오전 국회에서 원내대표 취임을 축하하기 위해 국회를 찾은 정 장관을 만나 "검사들을 위해서가 아니라 피해자들의 눈물을 닦아주기 위한 것"이라며 이같이 말했다. 그는 광주 여고생 살인 사건과 관련해 "납치, 감금, 폭행, 강간 살인으로 이어지는 범죄 사실 자체가 매우 악질적이고 충격적"이라며 "문제는 검찰의 보완 수사가 없었다면 이번 사건의 진상이 영원히 은폐되었을 가능성이 컸다는 점"이라고 지적했다. 이어 "이번 사건뿐만 아니라 의붓딸 20년 성폭행 사건, 고 김창민 감독 폭행 치사 사건, 부산 돌려차기 사건 등 경찰이 초동 수사에 실패하고 검찰의 보완 수사로 진상을 밝힌 사건들이 많이 있다"며 "검찰 보완수사권 폐지는 경찰의 수사권 완전 독점"이라고 했다. 그러면서 "더불어민주당 일각에선 검찰에 보완수사 요구권만 주면 충분하다고 주장하는데 보완수사 요구권만 주어진다면 사건 핑퐁으로 사건 처리 시한은 무한정 늘어난다"며 "특히 범죄자가 구속된 조기 구속 사건의 경우 짧은 구속 기간으로 보완수사 요구 자체가 불가능해지거나 범죄자의 구속을 취소한 후에 보완수사 요구를 해야 되는 어려움에 직면할 수 있다"고 짚었다. 그는 "장관과 이재명 대통령은 분명히 보완수사권을 일부 존치시켜야 한다는 생각을 갖고 있었던 것으로 아는데, 갑자기 경찰의 수사권 독점으로 180도 선회한 것을 납득하기 어렵다"며 "피해자와 국민의 관점에서 다뤄야 할 사건이 다분히 민주당 전당대회를 겨냥한 당내 정쟁의 소재로 다뤄지고 있어 유감스럽다"고 했다. 정 장관은 국회의 여야 합의를 강조하며 국민의힘의 상임위원회 참여를 당부했다. 그는 "정부는 보완수사권 폐지를 기본적인 입장으로 하고 있지만 국민의 대표 기관인 국회에 최종적인 입법 권한이 있다"며 "국회에서 여야가 충분히 논의해 주길 부탁드린다"고 했다. 특히 국민의힘이 민주당의 일방적인 원 구성에 항의해 보이콧한 상황을 두고 "법제사법위원회에 꼭 참여해달라"며 "민생과 관련된 현안들이 많기 때문에 야당에서도 적극 참여해 논의 과정에서 국민적인 우려와 대안들을 적극적으로 말해달라"고 덧붙였다.* This article has been translated by AI. 2026-07-08 12:00:00
  • HD Hyundai Partners with Schneider Electric to Develop Floating Data Centers
    HD Hyundai Partners with Schneider Electric to Develop Floating Data Centers HD Hyundai is embarking on the development of key technologies for 'floating data centers,' which are gaining attention as an alternative to traditional land-based data centers in the age of artificial intelligence (AI).On July 7, HD Korean Shipbuilding & Marine Engineering, a mid-holding company of HD Hyundai's shipbuilding division, announced that it signed a memorandum of understanding (MOU) with global data center infrastructure leader Schneider Electric for the joint development of floating data center (FDC) infrastructure technology.The signing ceremony took place at the HD Hyundai Global R&D Center in Seongnam, Gyeonggi Province, attended by Kim Hyung-kwan, CEO of HD Korean Shipbuilding & Marine Engineering, and Kwon Ji-woong, CEO of Schneider Electric Korea, along with executives and officials from both companies.The FDC, known as a floating data center, operates servers on floating structures at sea, presenting an ideal solution to the challenges of securing land and the high costs of server cooling associated with traditional data centers.Schneider Electric is a global leader in power, cooling, and energy management for data centers, providing next-generation digital infrastructure solutions based on its extensive experience in building large-scale data centers and AI infrastructure.Under the agreement, the two companies aim to enhance collaboration in engineering to optimize core technologies for data center infrastructure in marine environments, focusing on the integrated construction of data center infrastructure based on offshore platforms.They will review the infrastructure and technical requirements necessary for implementing the FDC and work together to derive optimal infrastructure solutions suitable for marine platform environments. Additionally, they plan to secure integrated design capabilities that combine data center power and cooling infrastructure with marine platform technology.Furthermore, the two companies will regularly share information on the latest technology trends and engineering issues related to FDCs and seek additional opportunities for joint research and development to expand their collaborative relationship.Kim Hyung-kwan, CEO of HD Korean Shipbuilding & Marine Engineering, stated, "We are accelerating the development of offshore data center technology based on our accumulated design and construction capabilities for floating structures in the shipbuilding and marine sectors. Through this collaboration, we will enhance core technologies to reliably implement large-scale, high-density computing infrastructure at sea."Meanwhile, the shipbuilding industry is nurturing FDCs as the next-generation marine infrastructure to address power and land shortages arising from the expansion of AI data centers. Domestic shipbuilders, equipped with design and construction technologies for ships and marine plants, are entering the competition to build offshore platforms, leading to intensified technology development and global collaboration.* This article has been translated by AI. 2026-07-08 12:00:00
  • Hyosung Establishes AI Convergence Research Institute to Drive AI Transformation
    Hyosung Establishes AI Convergence Research Institute to Drive AI Transformation Hyosung announced on July 8 that it has established an 'AI Convergence Research Institute' to drive a company-wide transformation towards artificial intelligence (AI).The AI Convergence Research Institute aims to integrate the latest AI technologies into Hyosung's core manufacturing businesses, which have been stable for over 60 years in sectors such as heavy industry, textiles, and chemicals. The organization will focus on applied and convergent research and development to enhance synergy.Hyosung plans to leverage AI not just for improving operational efficiency or reducing costs, but as a key driver for developing high-value new products and planning and executing future business initiatives across its main subsidiaries, including Hyosung Heavy Industries, Hyosung TNC, and Hyosung Chemical.Additionally, the company intends to elevate the sophistication of its smart factories by combining its manufacturing expertise with AI, fostering an innovative culture throughout its production sites, and strengthening its position as a global 'first mover.'Hyosung has appointed Myeong Seong-hyun, a distinguished professor emeritus at KAIST, as the first director of the AI Convergence Research Institute.Professor Myeong has previously served as a faculty member at Syracuse University and KAIST's Department of Computer Science. He is an AI technology expert with over 30 years of research experience in areas such as semantic-based information retrieval, text mining, natural language processing, and language modeling. For the past eight months, he has been advising Hyosung on its digital transformation and has conducted special lectures to enhance the AI capabilities of its employees.Hyosung plans to accelerate the recruitment of next-generation talent who possess both core technical skills necessary for the AI transformation and expertise in industrial applications.A Hyosung representative stated, 'Through the AI Convergence Research Institute, we aim to merge the manufacturing expertise accumulated by the group with AI technology, actively pursuing new product development and business discovery based on this foundation.'* This article has been translated by AI. 2026-07-08 11:40:00
  • Samsung Heavy Industries Secures $284.9 Million Contract for Two Oil Tankers
    Samsung Heavy Industries Secures $284.9 Million Contract for Two Oil Tankers Samsung Heavy Industries has secured a contract for two oil tankers, surpassing $10 billion in annual orders for the first time in five years since 2021.On July 8, Samsung Heavy Industries announced that it signed a construction contract with a Bermuda-based shipping company for the two oil tankers. The total contract value is approximately 284.9 billion won, with the vessels scheduled for delivery by May 2029.Including this contract, Samsung Heavy Industries' cumulative orders for this year have reached $10 billion, comprising 32 merchant ships and two floating liquefied natural gas (FLNG) production units. This figure represents 72% of its annual order target of $13.9 billion.This marks the first time since 2021 that Samsung Heavy Industries has exceeded $10 billion in annual orders, driven by a significant increase in merchant ship orders amid a global economic recovery. The company has also secured large-scale offshore projects, including FLNG units, enhancing its prospects for achieving this year's order target.A representative from Samsung Heavy Industries stated, "The achievement of surpassing $10 billion in annual orders after five years is attributed to the stable order flow in the merchant ship sector and the acquisition of large offshore projects like the two FLNG units. We will strengthen our two-track growth foundation encompassing both merchant ships and offshore projects to enhance our resilience against market volatility and establish a stable management base."Additionally, Samsung Heavy Industries announced on July 2 that it signed a strategic cooperation agreement with Singapore's Kuok Group to collaborate on future business ventures, including shipbuilding, marine logistics, and digital infrastructure.* This article has been translated by AI. 2026-07-08 11:40:00
  • Song Young-gil Announces Candidacy for Democratic Party Leadership, Aiming to Win Over Youth Voters
    Song Young-gil Announces Candidacy for Democratic Party Leadership, Aiming to Win Over Youth Voters Song Young-gil, the longest-serving member of the Democratic Party with six terms, announced his candidacy for party leader on July 8, stating, "Without the support of the 2030 generation, there will be no victory in the 2030 presidential election." His announcement follows the candidacies of former Prime Minister Kim Min-seok and lawmaker Ko Min-jeong, with former leader Jeong Cheong-rae also expected to run.During a press conference at the party headquarters, Song remarked, "The recent local elections were a defeat dressed in the guise of victory," emphasizing that "the crisis began within us, and the solution lies within as well." He has previously criticized Jeong's leadership following the local elections.To address youth concerns, he outlined key pledges including the normalization of real estate, solutions for job and housing issues, and the removal of obstacles in the stock market.He promised, "If elected as party leader, I will appoint two members of the Supreme Council from the 2030 generation," and added, "I will create a special committee and platform for the 2030 generation to directly participate in major party decisions and make their own choices."Song stated, "I will be a leader who embraces the hearts of young people and moderate swing voters, strengthening the value alliance of democratic reform forces."As a member of the pro-Lee faction, Song emphasized the need for a united front with the Lee Jae-myung government. He declared, "I will not miss the golden opportunity of the next four years under this government, aiming to create an irreplaceable South Korea and Democratic Party."He added, "The President is doing everything he can at this moment. We must not let him walk the thorny path alone. It is the duty of the ruling party to walk this path together with him."Regarding the government's three major mega-projects aimed at achieving local-led growth, he stressed, "Since the President is personally chairing the semiconductor task force, we will establish a dedicated organization within the party to firmly support the government's rapid progress."Additionally, there is speculation that he may ally with Kim Min-seok, who shares his pro-Lee stance, to counter Jeong Cheong-rae in the upcoming convention. Given that a preference voting system will be used instead of a runoff, a decision may be made soon.The preference voting system allows voters to list their top three preferred candidates on the ballot. If a candidate receives a majority of first-choice votes in the first round, they are declared the winner. If no candidate achieves a majority, subsequent choices are counted. Some analysts suggest this system may favor the pro-Lee faction. 2026-07-08 11:36:00
  • Park Hong-geun: Education Grant Reform Will Involve Communication with Education Sector
    Park Hong-geun: Education Grant Reform Will Involve Communication with Education Sector Park Hong-geun, the Minister of the Office for Government Policy Coordination, stated that the goal of reforming education grants is to "ensure the stability of education finance and promote balanced growth in South Korean education," adding that he will seek solutions through communication with the education sector.On July 8, Minister Park made these remarks during a discussion on the reform of local education finance grants for future generations held at the Government Seoul Building.The discussion was organized by the Office for Government Policy Coordination and the Ministry of Education to assess the current state of the local education finance grant system and discuss the need for reform.Kim Hak-soo, a senior researcher at the Korea Development Institute (KDI), emphasized the need to restructure the current education finance calculation method to allow for rational and flexible resource allocation based on policy environments and goals.Lee Seon-ho, head of the Korea Educational Development Institute, suggested that the education system's goals in an era of population decline should be clearly defined, and that sustainable education finance reform should support the resulting educational demands.Minister Park stated, "We will communicate with the education sector and relevant ministries to find answers based on principles such as the continuous expansion of total grants and per-student grants in response to future educational demands, alleviating financial instability due to fluctuations in domestic tax revenue, balanced investment in early childhood, higher education, and lifelong education, and reflecting changes in the school-age population."The Office for Government Policy Coordination and the Ministry of Education plan to continue discussions with the education field based on the outcomes of this meeting to prepare a reform plan for local education finance grants.* This article has been translated by AI. 2026-07-08 11:32:00