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  • KOTRA Aims to Boost Non-Metropolitan Exports to $350 Billion by 2030
    KOTRA Aims to Boost Non-Metropolitan Exports to $350 Billion by 2030 The Korea Trade-Investment Promotion Agency (KOTRA) plans to increase non-metropolitan exports to $350 billion by 2030. The initiative aims to enhance the overseas expansion of regional companies and actively attract foreign investment in advanced industries, thereby broadening the foundation for a $1 trillion export era.On September 8, KOTRA held a 'Regional Growth Review Meeting' chaired by President Kang Kyung-sung, discussing strategies to expand regional exports and investments centered on the four major regions and three special sectors. The meeting included executives and staff from headquarters, as well as heads of 12 domestic regional support offices and 10 overseas regional offices, who participated both online and in person.KOTRA has set a goal to nearly double non-metropolitan export figures from $180 billion in 2025 to $350 billion by 2030. During the same period, the agency plans to increase foreign investment attraction in these regions from $6 billion to $12 billion.Currently, exports in South Korea are relatively concentrated in the metropolitan area. Last year, only 30.1% of the 102,304 total exporting companies were based outside the capital region, accounting for 26.3% of the total export value of $709.3 billion. KOTRA aims to nurture local companies and new exporters to secure growth potential.To achieve this, KOTRA will establish a 'Regional Overseas Expansion Highway' linked to the government's four major regions and three special sectors, as well as three mega-projects in semiconductors, physical artificial intelligence (AI), and AI data centers. This approach will directly connect strategic industries in each region with promising overseas industrial clusters. For instance, it will link semiconductor companies in the southwestern region with material, parts, and equipment procurement needs from U.S. and European firms, while supporting southeastern and Daegu-Gyeongbuk region companies in entering manufacturing supply chains in Japan and India.Support for regional companies lacking export experience will also be expanded. Through the 'Export Hope 1000' initiative, KOTRA aims to assist 1,000 non-metropolitan companies with annual exports below $1 million by 2030. This support will include consulting on export capabilities, identifying and matching with overseas buyers, and providing marketing assistance for up to three years.KOTRA will also address challenges faced by regional companies in the overseas expansion process, such as talent acquisition, logistics, and certification issues. The agency plans to collaborate with local governments and universities to train AI trade professionals and connect them with regional exporters. Additionally, it will expand logistics networks and support obtaining overseas certifications in partnership with testing and certification organizations.The functions of 12 regional support offices and 20 AI trade support centers will be strengthened. KOTRA will utilize AI to support the entire export process, from creating export marketing content to recommending promising markets and buyers, facilitating video consultations, and connecting with overseas trade offices. The agency will consolidate previously dispersed overseas marketing budgets to jointly host large-scale exhibitions and consultations by region, while also expanding the business and budget authority of regional support offices.Kang Kyung-sung, President of KOTRA, stated, "To establish a $1 trillion export era, it is crucial to increase the number of exporting companies, particularly those in the regions. We will enhance support for regional companies' exports and investments to drive regional economic revitalization and qualitative growth in exports." 2026-09-08 11:04:00
  • Choi Eun-seok Calls for Kim Hyun-ji to Testify at National Assembly Hearing
    Choi Eun-seok Calls for Kim Hyun-ji to Testify at National Assembly Hearing Choi Eun-seok, the chief spokesperson for the People Power Party, urged on September 8 that the public is demanding specific information regarding Kim Hyun-ji, the head of the Presidential Office's first division. He called for the Democratic Party to make a decisive move.During an appearance on SBS Radio's 'Kim Tae-hyun's Political Show,' Choi asserted that Kim should testify at the upcoming National Assembly audit scheduled for next month. He stated, "It is becoming clear that Kim was behind the incomprehensible appointments," and pressured the ruling party, saying, "It is up to them to decide whether to ignore the public and continue on their own path or to make a decision to boost their approval ratings."Regarding the recent cabinet reshuffle by President Lee Jae-myung, he pointed to the Ministry of Justice, Ministry of Gender Equality and Family, Ministry of Economy and Finance, and Ministry of Land, Infrastructure and Transport, insisting that these appointments should be revoked. He emphasized that Kim Seung-won, the controversial nominee for Minister of Justice, should not be dismissed as merely having made a phone call to request favors. "The emerging suspicions will lead to significant revelations," he added, asserting that the confirmation committee would thoroughly investigate the allegations against Kim.Choi also argued that witnesses, including the CEO of Genensel and broker Yang Mo, should be called to testify at Kim's confirmation hearing.On the nomination of Yong Hye-in for Minister of Gender Equality and Family, he insisted that she should resign from both her ministerial and parliamentary positions. Choi remarked, "The public has never voted for the Basic Income Party. They were receiving government subsidies through loopholes," highlighting the ethical concerns of a lawmaker who swore to work for the public good.He continued, stating that the nominees for the Ministry of Economy and Finance and the Ministry of Land and Transport are all current vice ministers who have been promoted. He criticized the decision to appoint these officials, who supported policies that have led to economic decline and high inflation affecting the middle class and youth, as a "declaration of war against the public."* This article has been translated by AI. 2026-09-08 11:00:20
  • KakaoBank Launches Comprehensive Auto Financing Comparison Service
    KakaoBank Launches Comprehensive Auto Financing Comparison Service KakaoBank has introduced a new service that allows users to compare financing options for both used and new cars in one place.On September 8, KakaoBank announced the launch of its 'Auto Financing Comparison Service.'Customers looking to purchase used cars can compare KakaoBank's used car loans with auto loans, installment plans, and personal loans from over 70 partner financial institutions to select their preferred options.For new car purchases, users can compare cashback offers and installment terms from various credit card companies. By entering the vehicle price, down payment, and installment period, customers can view cashback benefits and installment conditions offered by partner card companies.The service also includes long-term rental options. Users can access rental services from Hyundai Capital through the KakaoBank app, along with information on car insurance rates and other details necessary for vehicle purchases.Previously, customers had to individually search for loan and installment terms and cashback benefits from different financial and credit card companies when buying a car. KakaoBank has streamlined this process by allowing users to compare various auto financing products and benefits from multiple financial institutions within a single app.KakaoBank plans to enhance its competitiveness in the loan platform market by expanding its comparison services to include auto financing, following its offerings in personal loans and mortgage loans.A KakaoBank representative stated, "We have created a service that allows users to easily compare and utilize auto financing information that was previously difficult to view at a glance. We will continue to expand products and services necessary for our customers' financial lives."* This article has been translated by AI. 2026-09-08 10:52:00
  • South Korea to Conduct Ground Search in Nepal for Missing Persons
    South Korea to Conduct Ground Search in Nepal for Missing Persons The South Korean Ministry of Foreign Affairs announced that six members of the Korea Disaster Relief Team (KDRT) will attempt ground searches in two areas in Nepal, as requested by the families of those who have lost contact. The targeted locations are the mountainous areas near Powerhouse and the left side of Yellow Bridge, as well as the right side of Main Camp.According to the ministry, the KDRT plans to travel to these areas by helicopter before conducting the ground searches. The ministry emphasized that drones will also be utilized to enhance the safety of the rescue team and improve search effectiveness.Previously, the Nepalese government had expressed concerns about the safety of ground searches in the requested areas due to the terrain, but it has since changed its stance.The KDRT has already conducted ground searches near Ramche, drone searches around Powerhouse, and drone searches near Weir Dam.Meanwhile, the KDRT was dispatched to Nepal at the request of the Nepalese government on September 2 for a period of ten days, which is set to expire on September 11. The ministry has not yet determined whether to extend this deadline. Currently, there are nine South Koreans reported missing. 2026-09-08 10:52:00
  • Shinhan Bank to Sell Government Bonds for Personal Investment Starting September 9
    Shinhan Bank to Sell Government Bonds for Personal Investment Starting September 9 신한은행이 퇴직연금 고객의 장기 자산운용 선택권을 넓히기 위해 오는 9일부터 확정기여형(DC)·개인형퇴직연금(IRP) 계좌에서 개인투자용국채 10년물과 20년물을 판매한다고 8일 밝혔다.신한은행은 첫 청약 일정에 맞춰 관련 시스템 구축을 마쳤다. 신한은행 DC·IRP 고객은 별도의 개인투자용국채 전용계좌를 만들지 않고 기존 퇴직연금 계좌를 통해 투자할 수 있다.청약은 신한 슈퍼SOL이나 영업점에서 가능하며, 첫 청약 기간은 이달 9일부터 15일까지다. 최소 청약 금액은 10만원으로, 이후 10만원 단위로 신청할 수 있다.개인투자용국채는 정부가 개인의 장기 자산형성을 지원하기 위해 발행하는 국채다. 만기까지 보유하면 표면금리에 가산금리를 더한 금리가 연 복리로 적용된다. 퇴직연금 계좌를 통해 투자하면 운용수익 과세 이연과 연금 수령시 연금소득세 적용 등 기존 퇴직연금의 세제혜택도 받을 수 있다. 다만 중도환매시 가산금리와 연 복리 혜택이 적용되지 않는 만큼 투자 전 관련 조건을 확인해야 한다.신한은행 관계자는 "퇴직연금은 은퇴 시점까지 장기간 자산을 어떻게 운용할 것인지가 중요하다"며 "이번 개인투자용국채 판매를 통해 고객의 장기 자산운용 선택지를 넓히고, 앞으로도 고객 은퇴 시점과 자금계획에 맞는 다양한 상품과 서비스를 선보이겠다"고 말했다.* This article has been translated by AI. 2026-09-08 10:44:00
  • Pop Mart to Open First European Flagship Store in Paris
    Pop Mart to Open First European Flagship Store in Paris Chinese art toy brand Pop Mart plans to open its first European flagship store in Paris, a move aimed at expanding its international presence despite a slowdown in overseas business growth.According to the South China Morning Post on September 8, Pop Mart's flagship store will be located on Boulevard Haussmann, a major shopping street in Paris known for housing prominent department stores like Galeries Lafayette and Printemps.In advance of the store opening, Wang Ning, founder and CEO of Pop Mart, visited Paris to enhance local brand recognition. Earlier this month, he met with Bernard Arnault, chairman and CEO of LVMH, at the luxury conglomerate's headquarters. During the meeting, Wang presented Arnault with a limited edition product celebrating the 10th anniversary of Pop Mart's signature character, LaBubu. Also present were Delphine Arnault, CEO of Dior, and Pietro Beccari, CEO of Louis Vuitton.Pop Mart is reportedly exploring further collaboration opportunities with LVMH after partnering with its luxury brand Moët Hennessy Louis Vuitton last year to celebrate LaBubu's 10th anniversary.Jeff Zhang, an analyst at investment firm Morningstar, told the South China Morning Post that Wang's visit to Paris appears primarily aimed at raising Pop Mart's profile. He noted that Pop Mart is looking to leverage its key intellectual properties (IP) for potential additional business collaborations with LVMH, suggesting that Pop Mart's IP could be integrated into some of LVMH's luxury products in the future.The connection between Pop Mart and LVMH has been developing since last year. In October, artist Kasing Lung, who created LaBubu, met with Arnault in Paris, and in December, Wu Wei, LVMH's chairman for Greater China, joined Pop Mart's board of directors.Zhang anticipates that Pop Mart will increase collaborations with luxury brands, which he believes will contribute to the company's licensing revenue growth.This strategic move comes as Pop Mart faces a slowdown in overseas business growth. In the first half of this year, the company's revenue reached 17.17 billion yuan (approximately $2.4 billion), a 23.8% increase compared to the same period last year. However, this growth rate is significantly lower than the nearly 200% increase recorded during the same timeframe last year.Notably, the decline in overseas business has been pronounced, with international sales dropping 11.1% to 4.97 billion yuan. The share of overseas sales in total revenue also fell from 40.3% in the first half of last year to 29% this year.Pop Mart has revised its revenue growth target for this year, now expecting to achieve a 20% increase, and plans to focus on strengthening its business fundamentals and optimizing its global distribution network rather than pursuing short-term store expansion.Wang's international activities have also intensified recently. In July, he visited Apple's headquarters in the U.S., where he met with then-CEO Tim Cook and incoming CEO John Ternus. Pop Mart stated that they discussed creative design, the digital ecosystem, and global consumer trends during that meeting.Despite the slowdown in overseas growth, Pop Mart continues to pursue global market expansion as a long-term core strategy. As of June this year, the company operates 676 offline stores worldwide, with 419 located in mainland China. There are 36 stores in Hong Kong, Macau, and Taiwan, 90 in the Asia-Pacific region, 86 in the Americas, and 45 in Europe and other regions. 2026-09-08 10:44:00
  • Naver takes AI into Frances national broadcast archive
    Naver takes AI into France's national broadcast archive SEOUL, September 08 (AJP) - An agreement signed at an international film summit in southern France on Monday (local time) will put South Korean artificial intelligence to work inside France's national broadcast archive. Naver signed a strategic memorandum of understanding with the Institut national de l'audiovisuel, France's national broadcast archive, at the Lumière Summit in Saint-Paul-de-Vence. The two sides will carry out joint research on AI-based preservation and restoration of archive material, develop new digital content and experiences drawn from the holdings, and exchange specialists and seminars, the Ministry of Culture, Sports and Tourism said Tuesday. The ministry described the pairing as an attempt to combine the archive's capacity to preserve and digitize audiovisual heritage with Naver's AI technology and platform capabilities. The deal emerged from a gathering that had spent the day working through what AI is doing to the people who make films. President Lee Jae Myung, who co-chaired the summit with French President Emmanuel Macron, used his opening address to name coexistence between human creativity and AI as one of four priorities for the industry, alongside the crisis facing movie theaters, protecting cultural diversity through support for independent films, and building a mutually beneficial relationship between local and global content businesses. Participants adopted the Lumière Declaration, which frames film as a public good. The Institut national de l'audiovisuel (INA) was created in 1975 when France broke up its state broadcasting monopoly, and it has held the country's audiovisual legal deposit since 1992. That obligation requires it to record 179 television channels and radio stations continuously. Since the deposit was extended to the internet in 2006, it has also collected the contents of more than 14,000 websites and 12,600 social media accounts, according to the institute. For Naver, the agreement arrives in the middle of a year spent selling its AI abroad. The company operates HyperCLOVA X, a family of large language models trained heavily on Korean-language material, and its cloud unit has marketed the technology to overseas governments and institutions as sovereign AI, meaning systems a country can run without depending on foreign providers. Naver signed an infrastructure agreement with Advanced Micro Devices in March to build computing capacity tuned to HyperCLOVA X, and expanded a cloud partnership with Nvidia in June. Neither the ministry nor Naver disclosed what the archive work will cost, when it will begin, or what it is expected to produce. The memorandum names no research program and sets no deadline, and the announcement says nothing about whether Naver will be permitted to train its models on INA material. The summit drew 274 participants from 58 countries, including culture ministers, international organization officials, studio and media executives, directors and actors. Lee and Macron used it to launch a five-year investment program under which South Korea and France will each put 500 million euros into their domestic film and audiovisual industries from 2027 through 2031, a combined 1 billion euros ($1.17 billion). Culture Minister Chae Hwi-young led the South Korean delegation through the day's working sessions. He came to the job from the industry the agreement now involves, having headed the Naver division at NHN Corporation, which was later renamed Naver Corporation, before serving as its chief executive and then as an adviser to the company. He went on to run the travel and ticketing group Interpark. Chae separately signed a film co-production treaty with Italian Culture Minister Alessandro Giuli. Films recognized as joint productions under the treaty will be treated as domestic films in both countries, making them eligible for film fund incentives, tax credits and subsidies, with the movement of crew and equipment guaranteed. Two other South Korean parties signed accords at the summit. The content producer SLL agreed with Mediawan, described by the ministry as Europe's largest media group, to develop remakes of each side's intellectual property formats for Korean and European audiences and to pursue multi-genre co-productions aimed at the global market. The Korean Film Council agreed with the Motion Picture Association to cooperate on discovering and training new talent, exchanging specialists, sharing information and holding screening events. "The South Korean government, as a hub of international audiovisual content production and the most trustworthy partner, will widen the freedom to create and will spare no policy or institutional support," Chae said in his closing address. AJP Takeaways - Naver signed a strategic memorandum with the Institut national de l'audiovisuel at the Lumiere Summit in Saint-Paul-de-Vence to research AI-based preservation and restoration of France's national broadcast archive, which has held the country's audiovisual legal deposit since 1992 and records 179 television channels and radio stations continuously. - Lee Jae Myung, who co-chaired the summit with Emmanuel Macron, named coexistence between human creativity and AI one of four priorities for the industry, and participants adopted the Lumiere Declaration framing film as a public good. - Naver has spent the year marketing its HyperCLOVA X models to overseas governments and institutions as sovereign AI, signing an infrastructure agreement with Advanced Micro Devices in March and expanding a cloud partnership with Nvidia in June. - Naver and the Ministry of Culture, Sports and Tourism disclosed no cost, no timeline, no named research program and no terms on whether Naver may train its models on archive material. 2026-09-08 10:41:33
  • Koreas Small Business Agency to Support Overseas Expansion for SMEs
    Korea's Small Business Agency to Support Overseas Expansion for SMEs The Small and Medium Business Administration announced on September 8 that it is recruiting specialized institutions for the '2027 Overseas Branching Project' to support small and venture businesses in their overseas expansion until the 28th.The 'Overseas Branching Project' allows capable local private institutions, known as overseas private networks, to act as branches for small and venture businesses that find it difficult to establish their own overseas offices, assisting with export marketing and entry into foreign markets.Currently, 124 institutions are active in 32 countries worldwide, serving as a foothold for small and medium-sized enterprises to expand internationally.The agency plans to select 145 institutions across 35 countries through this recruitment.The recruitment covers a total of 21 areas, including market development and transaction support, marketing, distribution, logistics, local laws and regulations, and growth and innovation support.Particularly, this recruitment will prioritize institutions with proven performance in promising countries or specialized fields where overseas private networks are lacking.Institutions wishing to participate can apply on the Overseas Branching Project website starting September 9.Park Jang-hyuk, the Global Growth Director at the Small and Medium Business Administration, stated, “In the rapidly changing global market, overseas private networks are a key driver for the successful local establishment of our small and venture businesses,” adding, “We expect active participation from institutions with excellent local expertise and infrastructure.”Meanwhile, the agency is providing various support, including developing an AI algorithm that analyzes promising countries and products for small businesses preparing for export.* This article has been translated by AI. 2026-09-08 10:40:10
  • Samsung Electronics Employees Seek Relief Amid Housing Allowance Controversy
    Samsung Electronics Employees Seek Relief Amid Housing Allowance Controversy Amid allegations of fraudulent receipt of housing allowances by some employees at Samsung Electronics' Pyeongtaek facility, posts from individuals believed to be affected have surfaced on the anonymous workplace community Blind.On September 8, numerous posts from Samsung Electronics employees appeared on Blind.One employee, identified as A, shared, "I received a call from my group leader today. Honestly, I didn't want to go to Pyeongtaek; I was forced to come here." A continued, "The real estate agent first mentioned changing the area, but is there no way to get relief? I really want to receive my bonus this year."A expressed, "I know I made mistakes, but I believe the company also has a responsibility for not verifying things properly. Is it possible to just repay the full amount of the housing allowance? It's about 20 million won."A, who is in their third year after graduating, also voiced fears about resigning. "I'm scared to resign. People around me congratulate me on my bonus and envy me, but I feel like I would want to die if I actually left. How can I avoid resigning?"Another employee, identified as B, posted about having a meeting with the company regarding the housing allowance. B mentioned shedding tears during the meeting, stating, "I thought everyone was doing it because of what the real estate agent said, and I didn't think it would be a problem. The atmosphere during the meeting was something I had never experienced before."B added, "They showed me various things and scared me by asking if I understood how serious the situation was, and I ended up crying. The person conducting the meeting seemed to find it amusing. I felt ashamed and frustrated."B expressed feelings of self-loathing and resentment towards the real estate agent, saying, "I don't know what to tell my family."As related posts spread across online communities, reactions from netizens have become increasingly harsh. Some commenters questioned, "Isn't it concerning that adults lack such awareness?" and "Is it acceptable for everyone to engage in illegal activities? They will definitely get caught." Others expressed disbelief, asking, "Did even new employees engage in such actions?"Meanwhile, Samsung Electronics has been providing partial housing cost support to eligible junior employees at the Pyeongtaek facility. The support is available to employees who meet specific criteria, such as distance from their family home and work conditions, allowing for up to 700,000 won per month based on housing type and area.Recently, allegations have emerged that some employees submitted contracts to the company that did not accurately reflect their actual living conditions to receive these allowances. Claims include living in larger homes or two-room apartments while submitting documents with different area or housing type information, as well as including management fees in their rent. Samsung Electronics is currently aware of these allegations and is verifying the facts.* This article has been translated by AI. 2026-09-08 10:40:00
  • LH to Remain in Jinju Despite Split into Two Entities
    LH to Remain in Jinju Despite Split into Two Entities The Korea Land and Housing Corporation (LH) is expected to keep its headquarters in Jinju, South Gyeongsang Province, even after being split into two separate entities. The Ministry of Land, Infrastructure and Transport has clarified that there is no need for relocation, addressing concerns from the local community about potential moves to other regions.According to the ministry, both new entities resulting from LH's reorganization will remain in Jinju. Since LH has already completed its relocation to the provinces in line with the government's balanced regional development policy, there is no justification for moving to different locations.An official from the ministry stated, “LH is already an organization that has completed its relocation to the provinces and is not subject to the second round of public institution relocations.”On September 3, the government announced plans to reform public institutions, deciding to split LH into the 'Housing and Urban Development Corporation,' which will handle land development and housing construction, and the 'Housing and Urban Asset Corporation,' which will focus on housing welfare and asset management. The names are provisional.This reorganization aims to redefine LH's extensive functions and improve its financial structure. By separating development and supply functions from housing welfare and asset management, the government seeks to accelerate housing supply and enhance operational efficiency.However, following the announcement of the split, concerns arose within the Jinju community that one of the new entities might relocate to another area. LH had previously planned to move to Jeonju, North Jeolla Province, and Jinju before the merger of the Korea Land Corporation and the Korea Housing Corporation in 2009, but ultimately relocated to Jinju amid local conflicts.The ministry reportedly considered additional costs associated with building new offices and decided to keep both entities in Jinju. Specific details regarding the roles and functions of each organization, as well as the allocation of personnel and assets, are expected to be included in LH's reform plan, which will be announced later this year.As discussions about LH's separation focus on improving housing supply speed and financial structure, future debates are likely to center on the distribution of functions between the two entities and the management of debt and assets.* This article has been translated by AI. 2026-09-08 10:40:00