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AI Technology Reduces Harmful Algal Bloom Analysis Time to One Hour 정부가 인공지능(AI)을 활용해 유해 남조류를 자동으로 분석하는 기술을 국내 처음으로 현장에 도입한다. 분석 시간을 기존 4시간에서 1시간 수준으로 줄일 수 있어 최근 확대된 조류경보제의 신속성을 높일 것으로 기대된다. 기후에너지환경부 산하 국립환경과학원은 측정·분석기기 전문기업 이솔루션즈와 공동으로 개발한 AI 기반 유해남조류 자동 분석 기술을 대청호에 처음 적용한다고 15일 밝혔다. 이번 기술은 국내 최초로 유해남조류 세포수를 자동으로 분석할 수 있는 시스템이다. 연구진은 이날부터 대청호 조류경보제 운영 지점을 대상으로 현장 적용을 시작한다. 현재 조류경보제 운영에 필요한 유해남조류 세포수 산정은 분석자가 현미경으로 시료를 직접 관찰하며 세포 수를 일일이 세는 방식으로 이뤄진다. 이 때문에 분석에 오랜 시간이 걸리고 분석자 숙련도에 따라 결과 차이가 발생하는 한계가 있었다. 새로 개발된 기술은 현미경 챔버의 격자 이미지를 자동 촬영한 뒤 AI가 남조류 종류를 판별하고 세포수를 산정하는 방식이다. 기존 수질오염공정시험기준의 현미경 계수법을 그대로 적용해 별도 제도 개선 없이 현장 활용이 가능하다는 점도 특징이다. 국립환경과학원은 기술 개발 과정에서 고해상도 유해남조류 이미지 1만5080장을 확보하고 전문가 판독 자료를 기반으로 학습 데이터를 구축했다. 이를 통해 기존 약 4시간 걸리던 분석 시간을 1시간 수준으로 단축했으며 분석자 간 오차도 줄일 수 있게 됐다고 설명했다. 기후변화 영향으로 녹조 발생 시기와 강도가 커지는 가운데 AI를 활용한 수질 관리 기술이 현장에 본격 도입되고 있다는 점에서도 의미가 있다. 이번 기술 도입은 최근 정부가 조류경보 당일 발령 적용 지점을 대청호 등 전국 7곳으로 확대 운영하는 가운데 추진됐다. 녹조 발생 상황을 보다 신속하게 파악하고 대응하기 위한 기반이 마련됐다는 평가다. 국립환경과학원은 올해 대청호 조류경보제 운영 지점인 회남·추동·문의 등 3곳에서 기존 수동 분석 결과와 자동 분석 결과를 비교 검증해 기술의 현장 적용성을 높일 계획이다. 김경현 국립환경과학원 물환경연구부장은 "유해남조류 분석 자동화 기술 개발로 녹조 대응 속도를 크게 높일 수 있게 됐다"며 "이번 기술이 녹조의 과학적 관리 수준을 한 단계 끌어올리는 계기가 될 것으로 기대한다"고 말했다.* This article has been translated by AI. 2026-06-15 06:06:00 -
South Korea to Enhance Chemical Industry Support Amid Supply Chain Concerns As global oversupply and supply chain instability from the Middle East heighten concerns in South Korea's chemical industry, the government, industry leaders, and academia are working to strengthen the sector's competitiveness. Discussions are set to expand beyond simple petrochemical restructuring to include supply chain stabilization, industrial advancement, and regional economic and employment measures.On June 15, the Ministry of Trade, Industry and Energy held the launch ceremony for the 'Chemical Industry Forum' at the Lotte Hotel in Seoul, initiating discussions on enhancing the competitiveness of the entire chemical ecosystem.The forum was established to address the challenges faced by the chemical industry, exacerbated by increased oversupply from China, supply instability due to conflicts in the Middle East, and the accelerated global shift toward eco-friendliness.The government plans to develop a 'Comprehensive Support Plan for the Chemical Industry Ecosystem' in the second half of this year, based on discussions from the forum and consultations with relevant ministries and local governments. This initiative aims to broaden the recent restructuring discussions in the petrochemical sector into a comprehensive policy for enhancing the competitiveness of the entire chemical industry.The support plan will include measures for stabilizing supply chains, advancing industrial structures, and supporting regional economies and employment.The forum will operate through three divisions: supply chain stabilization, ecosystem advancement, and regional economy and employment.The supply chain stabilization division will discuss strategies to minimize disruptions in raw material and component supplies amid external risks such as instability in the Middle East.The ecosystem advancement division will review policy tasks aimed at transitioning the industry from a focus on generic products to high value-added, eco-friendly, and digital-centric structures. The regional economy and employment division will address support measures for potential economic shocks and employment issues arising during the restructuring process.Concerns over supply instability for key raw materials like crude oil and naphtha have intensified due to the prolonged conflict in the Middle East, highlighting the importance of supply chain stability. Industry voices are calling for comprehensive support measures to restore competitiveness amid declining profitability from China's large-scale production capacity expansions and increasing uncertainties in raw material procurement.Jung Chan-hwa, co-chair of the Chemical Industry Forum, stated, "To respond to global oversupply and market changes, we must cultivate high value-added and eco-friendly sectors based on a stable supply chain," adding, "We will ensure that the forum's discussions lead to actual policy and industrial changes."Yang Gi-wook, head of the Ministry's Resource Security Office, remarked, "The recent raw material supply instability triggered by the Middle East conflict has reaffirmed the importance of supply chains," and emphasized, "We will work together with the private sector to develop effective policy alternatives to enhance the competitiveness of the chemical industry."* This article has been translated by AI. 2026-06-15 06:06:00 -
Senior Housing and Care: A New Alternative in the Real Estate Market The landscape of industry and real estate is changing. With the arrival of a super-aged society and the decline of offline markets, existing retail commercial facilities are facing pressures from increased vacancies and unsold properties. In response, senior-friendly businesses such as senior kindergartens and funeral homes are emerging in areas previously occupied by daycare centers and wedding venues. Among these changes, the 'senior housing' market is emerging as a new alternative. This model offers specialized services for seniors, including assistance with daily living, healthcare, and community engagement. While various terms such as senior residences, silver towns, and senior welfare housing are used, they all share the core concept of senior-friendly living spaces. The senior housing market has high growth potential due to its structure, which combines long-term residency with recurring service demand, the potential for expansion through connections with adjacent healthcare businesses, and supportive government policies. An increase in life expectancy and a steady influx of older adults are expected to further drive demand. In addition to existing silver towns, the market is likely to expand to include assisted living facilities that focus on providing comprehensive support and care. The construction, finance, and insurance sectors have quickly recognized this demand. Recent offerings such as Lotte Construction's VL West, KB Life's KB Golden Life Care, Shinhan Life Care's Solace Home Misa, and Sohyang Hanam by Parnas exemplify this shift. Consumer response has been enthusiastic, with popular silver towns often having waiting lists that last several years. Considering that just a few years ago, the supply rate of senior welfare housing was less than 0.1% for a population of 10 million seniors, this signals clear market growth. However, challenges remain after supply, particularly regarding operational stability and the sustainability of service quality. The domestic senior housing market has already faced painful precedents. Some for-sale silver towns have harmed residents due to exaggerated advertising, speculative transactions, and poor management of resident committees after ownership transfers, leading to increased societal distrust in related products. Consequently, the for-sale silver town system was abolished in 2015 amid numerous issues, highlighting the negative consequences of a lack of understanding of senior housing. What distinguishes senior housing from conventional real estate is the continuity and complexity of services provided after residents move in. Unlike apartments that merely sell space or hotels that offer short-term services, senior housing focuses on ongoing personalized care. While the construction company is crucial for apartments, the brand and management of the operating company take precedence in hotels. In this context, the operating entity of senior housing is a vital investment asset and retail content. Residents' conditions can change frequently, and the need for support and care varies. Although long-term residency can extend beyond ten years, individual health conditions differ widely. Ultimately, the value of the product is determined not by its marketability before moving in but by the ongoing personalized operational services provided afterward. Therefore, establishing sufficient operational standards is essential for industry growth. First, senior-specific design that reflects the physical and cognitive needs of older adults must be prioritized. Personalization of services according to residents' conditions and efficient management considering occupancy rates and workforce utilization are also critical. Additionally, housing and care models should be designed to accommodate the changing life stages of older adults. Effective operations enhance long-term resident satisfaction and increase customer lifetime value, ensuring stability and sustainability. This, in turn, leads to higher satisfaction among residents. To establish a virtuous operational cycle, simply having good facilities is not enough. A reliable environment that offers comfort akin to home while providing appropriate support is necessary, along with models that allow for residence over many years. More attempts and validations are needed to address challenges such as quality control and standardization of operational systems in the field. CareDoc, recognizing these issues, launched the care-oriented silver town 'CareDoc Care Home' in 2023, established the CareDoc Senior Housing Design Research Institute, and founded the country's first specialized operating company, 'CareOperation,' to promote the establishment of optimized operational standards for senior housing in South Korea. The domestic senior care and housing market is at the starting line. Just as small shops have transformed into convenience stores and multi-family villas have transitioned into corporate rental housing, the senior sector is now at a turning point towards a brand and corporate-led market. The future of the market will depend on operational capabilities that go beyond mere supply. What is needed now is an expansion of retirement housing options that incorporate understanding of seniors and operational sustainability. Responsible actions from the industry are crucial for the qualitative growth of senior housing and care content infrastructure.* This article has been translated by AI. 2026-06-15 06:03:00 -
HLB Chairman Jin Yang-gon Aims to Shed 'Three-time Loser' Label Amid Biotech Challenges While the semiconductor industry thrives, the biotech sector faces ongoing challenges, including reduced investment sentiment and rising funding costs. Amid these difficulties, the upcoming FDA approval decision for HLB's liver cancer first-line treatment, the combination therapy of riboceranib and camrelizumab, is drawing significant attention as a potential turning point for K-Bio. The outcome of this approval could determine the future direction of the group, with market observers wondering if Jin Yang-gon, chairman of HLB, can finally shed the 'three-time loser' label. According to industry sources, HLB has several major events lined up, including the FDA approval for the liver cancer first-line treatment in July, the approval for the second-line treatment for bile duct cancer in September, and clinical results for a treatment for neurotrophic keratitis. The approval of any of these treatments could significantly alter the future trajectory of the entire HLB Group. The most anticipated candidate is the combination therapy of riboceranib and camrelizumab for liver cancer. This treatment is currently under FDA review, with a final decision expected on July 23. Riboceranib is a targeted therapy that blocks growth signals in liver cancer cells, while camrelizumab is a PD-1 inhibitor that activates the immune system to attack cancer cells. Riboceranib inhibits VEGFR-2, which is involved in tumor angiogenesis, thereby restricting nutrient supply to cancer cells and normalizing abnormal blood vessel structures to facilitate immune cell infiltration. When combined with camrelizumab, it releases T-cell immune evasion mechanisms, enhancing the attack on cancer cells. This combination strategy is believed to improve the tumor microenvironment and activate immunity, significantly extending overall survival compared to existing standard treatments. HLB is advancing its development and approval strategy in the U.S. through its subsidiary Elevate Therapeutics. Recently, Elevate confirmed industry expectations for its liver and bile duct cancer drugs, which are set for FDA approval in the second half of the year, at the American Society of Clinical Oncology (ASCO 2026), the world's largest cancer conference. Chairman Jin has been buying shares in key affiliates of HLB Group, signaling confidence in the FDA approval process. Between July 2 and 8, he purchased 103,735 shares of HLB Genex, and on July 5 and 8, he acquired an additional 37,109 shares of HLB Innovation. As a result, Jin's holdings in various affiliates have increased significantly: 719,430 shares in HLB Genex, 405,373 shares in HLB Panajin, 359,013 shares in HLB Therapeutics, 221,490 shares in HLB Innovation, and 171,706 shares in HLB Biostep. This move is interpreted as a signal of commitment to long-term growth, even amid increased market volatility and a downturn in the biotech sector compared to the semiconductor boom. Ultimately, the FDA's decision—whether approval or rejection—will be a key variable in shaping HLB Group's future strategy. If approved, HLB would become the only K-Bio company with global competitiveness in the oncology sector, potentially serving as a catalyst for reaffirming the global competitiveness of the Korean biotech industry. It would also establish a revenue base that maximizes profitability through direct sales in the global oncology market. However, if the FDA approval is denied again, the commercialization timeline could be significantly delayed without a clear path forward. This would likely damage market trust, leading to reduced investment sentiment and a decline in corporate value. Concerns are growing that this could hinder HLB Group's funding capabilities and overall strategies for expanding global clinical trials and partnerships. In recent years, while the number of companies with late-stage clinical candidates in the Korean biotech industry has increased, there have been relatively few cases of successful FDA approvals for entry into the global market. An industry insider noted, "The outcome of HLB's FDA approval is not just a corporate challenge; it represents a 'big event' for the K-Bio industry to confirm its independent competitiveness in the global oncology market."* This article has been translated by AI. 2026-06-15 06:03:00 -
Exhibition Captures the Narrative of Everyday Objects The objects in the photographs seem to come alive. The exhibition 'Vibrating Objects' at the International Gallery showcases the thoughts, emotions, and memories of nine photographers, infusing still life with a sense of vitality. While each participating artist tells a different story through various objects, the works evoke the concept of a still moment, a serene pause that precedes the capture of a single photograph. The time spent contemplating with a camera is palpable. Unlike AI-generated images created in an instant, these photographs embody a unique perspective, time, and narrative that cling to the objects. The stillness of these items vibrates at a very low frequency. Koo Bon-chang, the curator of the exhibition, has gathered artists who have long dedicated themselves to still life photography. "I selected those who have consistently worked on still life for 20 to 30 years, focusing on those who have persevered without compromise, even when it was difficult," he said. The exhibition does not chase superficial beauty. Koo explained, "I sought out those who strive to get closer to the essence of hidden objects, who work to find beauty that is not immediately apparent. It’s important to understand that these artists contemplate the narratives of objects, societal issues, and the themes of life and death through everyday items." Koo has also interpreted the subtle sounds of objects through his camera over the years. Referring to the works displayed in the exhibition, he expressed, "I hope viewers appreciate the history, wear, and stories embedded in these objects." Reading the Expressions of Objects Through the Camera For some, common objects can be treasures or friends. For artist Kim Kyung-tae, a brass nut holds such significance. He has focused on the experience of observing both large and small items, capturing tiny nuts with diameters of 8, 11, and 14 mm up close and enlarging them. This is not a result obtained in a single shot. Using a technique called focus stacking, he took hundreds of photographs and combined the sharpest parts from each image. This method allows viewers to see the texture of the nut's surface clearly. The series 'Brass Hex Nut' (2016) reveals that even seemingly identical nuts bear unique traces. Kim Soo-gang captures the expressions of objects with his camera, whether they are stones or paper bags. To convey depth of expression, he employs the 19th-century photographic printing technique known as gum printing, which requires hands-on involvement in every step. The expressions of objects are intertwined with his life experiences. He noted, "When significant events occur, like the death of a family member or the birth of a child, the expressions of objects change very slowly over time." Koo Seung-yeon reveals sticky desires through photography. He meticulously carves dull decorations collected from markets into golden sugar shapes, representing the form of desire. The sweet and sparkling desire ultimately melts away. The artist sees beauty in the moment just before it disappears. "I captured the moment just before it started to melt and flow away, which I believe is the most beautiful moment," he said. Imbuing Objects with Emotion…A Process of Invocation Jung Hee-seung, who enjoys translating poetry, linked the tension between chance and inevitability in the poem 'Throwing Dice' to his photographic work. Jo Sung-yeon expressed the anxiety felt during the pandemic through precarious structures stacked in an uneasy balance. Park Chan-woo borrowed the format of traditional Joseon-era book covers to highlight the accumulation of experiences by photographing expired books in layers. Jeong So-hee added materials like bleach and coffee to photographs of her mother’s back to express changes in memory through wrinkles. For Jeong Jeong-ho, photography is a form of 'invocation.' He recalled a moment when he was trapped in the sea due to misjudging the tide, which reminded him of his grandfather's futile death in war. To summon his grandfather, who left no photographs behind, he reconstructed and photographed objects collected from the beach, his father's military photos, and clothes he wore. He stated, "The process of infusing emotion into still life work felt like an invocation. It felt as if my grandfather had entered me." The exhibition runs until July 19. 2026-06-15 06:03:00 -
Robert Mapplethorpe's 'The Poetics of Form' Exhibition Showcases Classic Aesthetics Robert Mapplethorpe's black-and-white photography resembles smooth porcelain, exuding a classical eroticism reminiscent of ancient Greek black pottery. The perfectly balanced male body radiates youth and tension, accompanied by a subtle sensuality. It is both elegant and provocative, embodying a unique duality. The first artwork encountered in Mapplethorpe's exhibition 'The Poetics of Form' at the International Gallery is a striking image of a black male figure (Thomas) with perfect symmetry. The image of Thomas evokes ancient Greek pottery, where dynamic male forms were illuminated against a glossy black surface. Mapplethorpe skillfully manipulates light in his black-and-white photography to focus on the robust male physique. Within a square frame, the model's body is encircled, showcasing a balance and tension that resembles the vigorous athletes of the ancient Olympic Games. This embodies classical sensuality. There are similarities to Leonardo da Vinci's 'Vitruvian Man', yet while the Vitruvian Man symbolizes ideal rationality constrained by geometric order, Mapplethorpe's perspective is akin to that of an unknown ancient potter. Kang Myung-joo, Deputy Director of the International Gallery, noted, "Mapplethorpe once said that photography is 'the perfect way to sculpt.' He viewed photography not merely as a medium for capturing fleeting moments but as a sculptural act that meticulously constructs light and shadow, proportion and balance." The exhibition runs at the International Gallery Hanok until July 19. 2026-06-15 06:03:00 -
California Elementary Schools Face Decline Amid Falling Birth Rates California, often regarded as the wealthiest state in the U.S., is witnessing a decline in public school enrollment due to falling birth rates. According to a report by local media outlet SF Gate on June 12, the number of public school students from kindergarten through 12th grade in California has decreased by 75,000 this year compared to the previous year. Over the past decade, the total decline has reached 420,000 students. Education experts attribute the primary cause of this decline to the overall decrease in birth rates across the United States. While the situation is not as critical as in countries like South Korea and Japan, Americans are having fewer children. Data from the Centers for Disease Control and Prevention (CDC) indicates that the U.S. birth rate has steadily declined since 2007. The Hill, a U.S. congressional publication, reported that the total fertility rate for women of childbearing age in the U.S. is projected to hit a historic low of 1.6 in 2024. This ongoing decline in birth rates is impacting the public school system. Last year, the number of newborns in the U.S. was 3.6 million, down from 4.3 million in 2007. This reduction will be reflected in kindergarten enrollment numbers in about five to six years. The decline in student enrollment is also evident in Silicon Valley, a global hub for IT companies. Reports indicate that the number of graduating students in San Jose is decreasing as well. In 2022, a public elementary school in Oakland, near San Francisco, closed due to declining enrollment, prompting parents and local residents to stage a four-month occupation protest. William Chavez, a social studies teacher at Woodrow Wilson High School in Los Angeles, noted, "Since I started working here, the number of students has been decreasing. While there aren't drastic changes each year, the trend is clear over time." This decline in student numbers is not unique to California. In southern Texas, where many residents have moved due to rising living costs, there was a decrease of 76,000 students in grades K-12 for the 2025-26 school year. Michael Kirst, an emeritus professor at Stanford University and former chair of the California State Board of Education, stated, "This decline is happening everywhere. There are very few areas that are not experiencing this trend." According to a report by The New York Times last month, major U.S. cities, including Los Angeles, Chicago, and New York, are seeing significant drops in student enrollment. The issue is that as student numbers decrease, the funding schools receive also diminishes proportionately. Consequently, some school districts are facing budget cuts, and discussions about school closures are becoming more prevalent. However, the migration of families seeking more affordable living conditions is also contributing to the decline in student numbers. For example, Portland, Oregon, which has 44,000 public school students, is experiencing a drop in enrollment due to both declining birth rates and residents moving to other areas. Kimberly Armstrong, the Portland superintendent, remarked, "People are choosing to raise their children in different areas, often moving to suburbs with more affordable housing." The district is anticipating a budget shortfall of $50 million for the next academic year, which could lead to school closures or staff layoffs, according to the NYT. As of 2023, 80.4% of K-12 students in the U.S. attend public schools, 7% are enrolled in charter schools, and 12.6% are in private schools or being homeschooled.* This article has been translated by AI. 2026-06-15 05:03:00 -
President Lee Addresses Election Irregularities and Voter Rights Concerns President Lee Jae-myung expressed astonishment and concern over the shortage of ballots during the June 3 local elections, stating, "It is shocking and perplexing that such an issue has arisen in a matter fundamental to democracy."While on a European trip, President Lee held a video conference with his aides in Seoul, emphasizing, "Every time I look into this, I see issues, particularly the infringement of voter rights. This situation, triggered by the Election Commission's undeniable ballot mismanagement, leaves a serious blemish on the national dignity of South Korea, which prides itself on K-democracy, advanced industries, and K-culture."He acknowledged, "I fully recognize and accept the legitimate concerns raised by our citizens regarding the infringement of voter rights."However, President Lee criticized those who exploit these issues to promote baseless conspiracy theories, stating, "Spreading claims of election manipulation distorts the essence of the problem and insults the valuable voices of the public, which is a socially harmful act."He noted that some individuals making such claims have threatened police officers on the scene and intimidated nearby citizens, adding, "It seems they occasionally obstruct police operations through unreasonable searches and checkpoints, as well as by blocking access for officers."President Lee asserted, "Those responsible for such actions must be held accountable according to the law and principles. There are clear lines we must uphold, and the most evident of these is the law and the system."He further stated, "To turn the incident of voter rights infringement into an opportunity for strengthening democracy and popular sovereignty, healthy criticism and the establishment of constructive alternatives must be guaranteed. Therefore, it is necessary to expedite thorough and transparent investigations into the matter."President Lee mentioned that the National Assembly's special investigative committee is expected to begin its work as early as this week, urging the Election Commission to fully cooperate with the legislative activities. He also called for the joint investigation team of prosecutors and police to accelerate their efforts in uncovering the truth without any sacred cows.He emphasized, "It is time for all of society to respond to the righteous anger of the youth and citizens with responsible actions."* This article has been translated by AI. 2026-06-14 23:45:00 -
Cyber Attack on Iran Disrupts Banking Services Amid Ongoing US-Iran Negotiations Cyber attack disrupts services at four Iranian banks A cyber attack targeting Iran has led to the temporary suspension of services at several banks amid ongoing negotiations between the United States and Iran for a ceasefire. On June 14, Reuters reported that Iran's Banking Coordination Committee announced a cyber attack on the country's shared communication infrastructure, resulting in service interruptions at four banks, including Mellat, Tejarat, Saderat, and the Iran Export Development Bank. The committee stated that there was no unauthorized access to customer information or data deletion, but recovery efforts are currently underway to restore normal operations. South Korea and Saudi Arabia agree on long-term energy cooperation The Ministry of Trade, Industry and Energy announced on June 14 that Minister Kim Jeong-kwan met with Saudi Arabia's Minister of Energy, Abdulaziz bin Salman, and signed a memorandum of understanding (MOU) regarding cooperation in the oil and gas sector. The ministry detailed that the two countries agreed to collaborate in several areas, including oil reserves, pipeline infrastructure development, technological innovation in energy resources using artificial intelligence and digital transformation, and enhancing environmental and economic sustainability. Previously, Minister Kim visited Saudi Arabia in April as a follow-up to a presidential strategic economic envoy visit, where both sides agreed to ensure the timely supply of agreed quantities of crude oil and naphtha by the end of the year. US and Iran finalize MOU for immediate opening of Hormuz Strait On June 14, Reuters reported, citing a senior Iranian official, that the final draft of a memorandum of understanding (MOU) aimed at ending hostilities between the US and Iran includes provisions for the immediate opening of the Strait of Hormuz. According to the report, Iran has promised to abandon its nuclear weapons program and open the Strait of Hormuz immediately, while the US has agreed to lift maritime sanctions, return frozen funds, and suspend oil sanctions. The final MOU stipulates that Iran will allow all commercial vessels to pass through the Strait of Hormuz, and the US will fully lift its maritime blockade against Iran. Financial Supervisory Service to investigate SpaceX stock allocation issue The Financial Supervisory Service (FSS) is set to investigate the circumstances surrounding the complete reduction of SpaceX shares that were to be allocated to Mirae Asset Securities. According to financial authorities on June 14, the FSS began inspecting Mirae Asset Securities on June 5 regarding the SpaceX public offering and transitioned to a full investigation last week. Following the cancellation of the stock allocation on June 13, the FSS is now focused on determining the exact circumstances. The financial investment industry reported that SpaceX initially planned to allocate 2,314,815 shares from a total of 555,555,555 Class A common shares to Mirae Asset Securities. However, it was reported that Goldman Sachs, the lead underwriter, did not allocate any shares to Mirae Asset Securities during the final allocation process, leading to the cancellation. US and South Korean officials meet to address won's depreciation In light of the recent exchange rate maintaining levels above 1,500 won, senior officials from the US and South Korean foreign exchange authorities have met to discuss strategies to address the depreciation of the won. On June 14, it was reported that Moon Ji-sung, the Deputy Minister of International Finance at the Ministry of Economy and Finance, traveled to Washington, D.C., on June 12 and returned the same day. During his visit, he met with senior officials from the US Treasury to discuss recent trends in the foreign exchange market. Notably, it appears that Moon emphasized during the meeting that the recent depreciation of the won is unjustifiable and excessive, considering the favorable conditions in South Korea's semiconductor industry and the overall fundamentals of the economy.* This article has been translated by AI. 2026-06-14 21:54:00 -
U.S. and South Korea Officials Meet to Address Weakness of Korean Won In light of the recent exchange rate hovering around 1,500 won to the dollar, senior officials from the U.S. and South Korea have agreed to enhance communication to address the weakness of the Korean won. According to foreign exchange authorities, Deputy Minister of Finance Moon Ji-sung departed for Washington, D.C., on June 12 and returned on June 14. During his visit, Moon met with senior officials from the U.S. Treasury to discuss recent trends in the foreign exchange market. Moon emphasized that, considering the solid fundamentals of the South Korean economy, particularly the favorable conditions in the semiconductor industry, the recent depreciation of the won is difficult to justify and appears excessive. Additionally, both sides have agreed to maintain close communication and cooperation to counter the pressures on the won. However, a Ministry of Finance official stated, "We cannot disclose specific details regarding the discussions during the visit."* This article has been translated by AI. 2026-06-14 21:15:00