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  • Guidelines on Labor Disputes: N% Performance Bonuses Not Subject to Negotiation
    Guidelines on Labor Disputes: 'N% Performance Bonuses Not Subject to Negotiation' The South Korean government has established guidelines indicating that performance bonuses linked to corporate profits, known as 'N% performance bonuses,' as well as major management decisions such as the introduction of artificial intelligence (AI) and factory relocations, are generally not considered mandatory subjects for negotiation. However, changes in working conditions, such as layoffs or job reassignments, may become negotiable if they are clearly defined. On September 3, the Ministry of Employment and Labor announced the 'Guidelines on Labor Disputes Related to Management Performance Bonuses.' This document clarifies the criteria for assessing performance bonuses and management decisions based on the interpretation of the amended Labor Union Act (yellow envelope law) released in February. According to the guidelines, management performance bonuses that pertain to wages and benefits are generally subject to mandatory negotiation. However, demands for performance bonuses tied to corporate profits, such as sales revenue, operating profit, and net income, are not considered mandatory subjects for negotiation or dispute resolution. This is due to the fact that corporate profits are often allocated to research and development (R&D), capital investment, and dividends, which also involve the interests of shareholders and creditors. Nonetheless, N% performance bonuses can still be negotiated voluntarily between labor and management, and existing collective agreements remain valid under these guidelines. Requests for fixed performance bonuses or bonuses based on base salary that are not linked to corporate profits may also be subjects for negotiation. Decisions regarding the establishment or relocation of factories, corporate sales, and the introduction of new technologies like AI are not mandatory subjects for negotiation. However, if plans for layoffs, restructuring, or changes in job roles and work arrangements are objectively confirmed, those related working conditions may become negotiable. If a union applies for mediation of a labor dispute solely to enforce N% performance bonuses or management decisions, the Labor Relations Commission may recommend changes to the demands. If the union does not comply, the commission can provide administrative guidance on that aspect. Kim Young-hoon, Minister of Employment and Labor, stated, "These guidelines were created to enhance predictability in the workplace and prevent labor disputes. We will respect voluntary negotiations between labor and management while consistently interpreting and applying the law according to these guidelines." 2026-09-03 15:36:20
  • Calls for Reform of Cryptocurrency Taxation Ahead of Implementation
    Calls for Reform of Cryptocurrency Taxation Ahead of Implementation As the implementation of cryptocurrency income taxation approaches in four months, experts are calling for a revision of the current system that taxes all income as other income, regardless of transaction type. They propose introducing loss carryforward deductions and integrating calculation and reporting procedures.Park Jong-soo, president of the Korean Tax Law Association and a professor at Korea University’s Law School, pointed out during a discussion on the '2027 Cryptocurrency Taxation Framework' held at the National Assembly on September 3 that, "Since the legal basis for taxing cryptocurrency income was established in the 2020 Income Tax Act, the basic structure of uniform taxation has not changed despite three delays due to insufficient infrastructure for securing tax data and determining acquisition costs."The discussion was organized by Democratic Party lawmaker Moon Jin-seok, in collaboration with the Digital Asset Exchange Alliance (DAXA) and the Korean Tax Law Association.The current income tax law classifies income generated from the transfer and lending of cryptocurrencies as other income. A 20% tax rate is applied to the amount remaining after deducting acquisition costs, related expenses, and a basic deduction of 2.5 million won from annual income. Including local income tax, the total rate is 22%.Professor Park argued that income should be classified based on the economic nature of transactions. He suggested categorizing sales and exchanges as capital gains, mining as business income, and lending and staking rewards as interest income. He also proposed distinguishing between income and gifts for cryptocurrencies received through airdrops based on whether they are given for consideration.Equity in taxation compared to other investment assets was also highlighted as a concern. While capital gains for small shareholders in domestic listed stocks are tax-exempt, cryptocurrency income is taxable if it exceeds 2.5 million won annually, regardless of the investment scale.The lack of loss carryforward deductions was also identified as an area for improvement. The system set to be implemented next year allows for the aggregation of gains and losses from cryptocurrencies within the same tax period, but it does not permit carrying over remaining losses to the following year for deduction against future profits.Professor Park emphasized the need for mechanisms to adjust annual gains and losses, given the high volatility of cryptocurrency prices and the realization of gains and losses over multiple tax periods.As an alternative, he proposed a so-called 'Cryptocurrency Investment Income Tax,' which would establish a basis for taxation by categorizing income into interest, business, capital gains, and other income based on transaction types, while integrating calculation, reporting, and data submission procedures similar to those for foreign stock reporting.He stated, "Implementing taxation under the current method without addressing transaction types and loss handling is insufficient." 2026-09-03 15:36:10
  • Labor Dispute Guidelines Clarified for Public Institution Relocations
    Labor Dispute Guidelines Clarified for Public Institution Relocations The government has clarified the boundaries of labor negotiations regarding the relocation of public institutions. While the decision to relocate is not a mandatory subject for negotiation, the situation changes when plans for employee reassignment or relocation become specific. Notably, if it is objectively confirmed that related plans are 'in development' before the final personnel plan is finalized, they may become negotiable.According to the 'Guidelines for Labor Disputes Regarding Management Performance Bonuses' released by the Ministry of Employment and Labor on September 3, decisions related to new factory establishments, relocations, business sales, and acquisitions are not mandatory subjects for negotiation. The government believes there is a need to distinguish between the management decisions themselves and the changes in working conditions that arise from those decisions.Vice Minister Kwon Chang-jun explained during a briefing, "The relocation of public institutions is viewed similarly to the relocation of factories; it is a management decision. However, when discussions about reassignment arise, I believe negotiations should naturally take place."The timing of these discussions is crucial. The mere announcement of a public institution's relocation policy may only suggest a potential change in workplace location. If plans for reassignment are confirmed to be in development or finalized, issues such as reassignment criteria and procedures, changes in work patterns, and relocation support may become subjects for negotiation.Not all matters are negotiable simply because the final personnel plan has not yet been released. The Ministry of Labor stated that if it is confirmed through internal documents, labor-management council materials, or employer confirmations during collective bargaining that the workforce management plan is 'in development,' it can be considered a stage where changes in working conditions are objectively anticipated. Vice Minister Kwon noted, "Since reassignment can affect not only job roles but also commuting and family life, it is necessary for labor and management to discuss the criteria and procedures for reassignment."However, there remains room for disagreement between labor and management regarding when the workforce management plan is considered 'in development.' With relevant information concentrated in the government or institutions, how unions verify the specifics of the plans will also be a key issue. While the boundaries between relocation decisions and changes in working conditions have been outlined, determining at what stage negotiations become necessary will depend on individual cases.There is also a divergence in perspectives regarding the effectiveness of the guidelines. Labor representatives express concern that the revised labor union law, which broadens the scope of labor disputes, could be narrowed again by these guidelines, while business representatives argue that non-binding guidelines alone cannot resolve uncertainties in the field.In response, Vice Minister Kwon stated, "These guidelines do not limit the scope of disputes beyond the law. It is impossible to specify every case in the law." He added, "Since they apply to administrative guidance from the Labor Relations Commission and judgments on unfair labor practices, they should be viewed as having normative power in that regard." 2026-09-03 15:36:10
  • Bulgari Koreas Lee Jeong-hak Awarded Order of the Star of Italy
    Bulgari Korea's Lee Jeong-hak Awarded Order of the Star of Italy Lee Jeong-hak, the representative of Bulgari Korea, has been awarded the title of Cavaliere in the Order of the Star of Italy for his contributions to enhancing the friendship and cooperation between Korea and Italy.On September 1, during the opening reception of 'Italy at Frieze: The Golden Trace' held at the Italian ambassador's residence in Yongsan, Seoul, Lee received the honor from Emilia Gatto, the Italian ambassador to Korea. This recognition acknowledges Lee's efforts to promote Italian culture and values in Korea and to strengthen the bilateral relationship.Lee, a seasoned executive with over 15 years in the luxury industry, began his career in the watch and jewelry sector of the world's largest luxury group, LVMH. He joined Bulgari in 2015 and has held key positions in Asia, including Japan and Hong Kong, before becoming the representative of Bulgari Korea in 2018. During his tenure, he has driven brand growth in the Korean market while actively collaborating with the Italian embassy and the Italian Chamber of Commerce in Korea to expand cultural and economic exchanges between the two countries.Lee stated, "I consider this honor very meaningful. Bulgari has consistently participated in various cultural and economic exchanges connecting Korea and Italy." He added, "We will continue to leverage Bulgari's Italian heritage and craftsmanship to further enhance cultural exchanges and creative dialogues between the two nations." He emphasized that the 142-year history of diplomatic relations between Korea and Italy is intertwined with Bulgari's own history and expressed his commitment to contributing to cultural exchanges.Since 2018, Bulgari Korea has been a member of the Italian Chamber of Commerce in Korea, continuously supporting major events and projects, including the Republic of Italy's National Day celebrations and gala dinners. The company has also participated as a sponsor in the Caravaggio exhibition held in Seoul in 2025, further introducing Italian culture and art to Korea and actively engaging in cultural exchange initiatives.This commitment to cultural exchange continues this year, as Bulgari serves as the main sponsor for 'Italy at Frieze: The Golden Trace,' organized by the Italian embassy and the Italian Cultural Institute in Korea as part of Frieze Seoul 2026. The exhibition's theme, focusing on cracks and fractures, resonates with Bulgari's philosophy of creating new beauty rooted in the Roman tradition of goldsmithing and craftsmanship.Additionally, Bulgari is involved in various global projects and partnerships that highlight the value of art, culture, heritage preservation, and craftsmanship. Starting in 2026, Bulgari will participate as an exclusive partner in the Venice Biennale International Art Exhibition three times, further expanding its collaboration with the global cultural and artistic community.In Korea, Bulgari has supported the Frieze Seoul Artist Award, exhibitions at the Seoul Museum of Art, and collaborations with the Sejong Soloists, among other cultural activities, thereby contributing to the domestic creative ecosystem. Through these efforts, Bulgari continues to support art and creativity based on the cultural heritage and craftsmanship of Rome, fostering dialogue between different cultures.* This article has been translated by AI. 2026-09-03 15:32:00
  • President Yoon Calls for Review of Basic Pension Eligibility for New Citizens
    President Yoon Calls for Review of Basic Pension Eligibility for New Citizens President Yoon Suk Yeol on September 3 directed a review of the current system that allows individuals to receive basic pensions immediately after acquiring citizenship, provided they meet income and asset requirements. This could lead to the introduction of a minimum residency period as a condition for eligibility.During a senior secretary meeting at the Blue House, President Yoon stated, "Under the current system, anyone who meets the income and asset criteria can receive a basic pension regardless of when they acquired citizenship." He highlighted a potential issue, saying, "For example, someone who has lived as a foreigner their entire life and later acquires citizenship could receive the same pension immediately upon residency. This is not just a matter of frequency; it is a matter of principle."He emphasized that such gaps in the system could be perceived as unfair discrimination against the majority of citizens who have diligently fulfilled their tax obligations, regardless of whether there are many or few such cases.President Yoon noted that many countries providing basic pensions funded by taxes require a certain period of domestic residency as a condition for eligibility. He urged a thorough examination of international examples and domestic research to establish a minimum residency requirement.The president also addressed the issue of foreigners briefly joining the national pension system and later paying contributions to gain pension rights. He mentioned, "There has been at least one case of an individual who joined for one month and then made retroactive payments for 119 months to receive a pension. There seem to be several cases where individuals have made contributions for a few months and then paid retroactively for a significant period. We need to quickly address these systemic shortcomings."Additionally, he instructed a comprehensive review of all social security systems and government subsidy programs to identify any institutional loopholes that contradict public common sense and principles of fairness.In light of recent incidents, President Yoon called for internal reforms and improvements within the police force. He remarked, "Even if many police officers do their best on the ground, a few deviations can create significant gaps in the entire system. We must reassess all processes in handling incidents to ensure there are no flaws in existing practices and systems from the perspective of the public and victims."He also mentioned the upcoming establishment of the Public Security and Serious Crimes Investigation Agency, urging that there be no gaps in protecting citizens' lives, safety, and rights.Furthermore, he called for a concerted effort in the search for missing persons following the capsizing of a tugboat off the coast of Busan, ensuring the safety of rescue personnel and establishing accurate accident details and preventive measures.Lastly, he directed that thorough crowd management and safety measures be prepared for the World Fireworks Festival taking place in Yeouido this weekend.* This article has been translated by AI. 2026-09-03 15:28:20
  • Jinwoo Monk Re-elected as Head of Jogye Order with 183 Votes
    Jinwoo Monk Re-elected as Head of Jogye Order with 183 Votes Jinwoo Monk will lead the Jogye Order of Korean Buddhism for another term, focusing on the theme of 'A New Century for Korean Buddhism.' Reflecting on the past four years, during which he guided the organization through stability and change, Jinwoo plans to accelerate reforms, including revising the election system for the General Secretary, decentralizing authority, and expanding welfare for monks, as well as promoting K-meditation globally.The Central Election Management Committee of the Jogye Order announced on September 3 that Jinwoo Monk has been elected as the new General Secretary during the election held at the Korean Buddhist History and Culture Memorial Hall in Jongno, Seoul.In this indirect election, all 321 voters participated, with 57% (183 votes) supporting Jinwoo Monk.In his acceptance speech, Jinwoo stated, "I will dedicate myself to opening a new century for Korean Buddhism," adding, "Today's choice is not just support for me personally, but a serious call for stability and unity to achieve a new leap for Korean Buddhism."He also promised to value all opinions expressed during the election process, stating, "I will listen with humility to ensure no one feels excluded, and together with the districts and the community, we will open the future of the order."This marks the first re-election of a General Secretary in 13 years since Jaesung Monk, who served as the 33rd and 34th General Secretary. Following the reform of the order in 1994, Jinwoo is the second to be re-elected after Jaesung. He was elected unopposed in 2022 as the 37th General Secretary. This time, he faced a competitive election.Jinwoo Monk, who was ordained under his teacher, Baekwoon Monk, in 1978, has held various positions, including head of Sinheungsa, Yongheungsa, and Baekyangsa temples, as well as serving as the acting General Secretary, president of the Buddhist Newspaper, and the 8th head of the Education Department of the Jogye Order.His campaign slogan for the new term is 'From Stability to Leap.' Building on the stability and changes achieved in the past four years, he aims to initiate significant reforms in the next four years. Jinwoo declared his candidacy on August 11, stating, "I will open a new century for Korean Buddhism," and emphasized that the coming years should be a time to leap toward a future vision based on stability and change.Since taking office in 2022, Jinwoo has focused on stabilizing the order and expanding the social base of Buddhism. He addressed long-standing issues such as cultural heritage admission fees and has worked to promote Buddhist culture through events like the Lantern Festival, temple stays, and temple cuisine. Recently, he has positioned meditation as a core initiative of the order, aiming to make it more accessible to the public through events like the Seoul International Buddhist Expo.In his second term, Jinwoo is expected to accelerate internal reforms within the order. He has pledged to revise the election system for the General Secretary, decentralize authority, enhance welfare for monks, and improve the rights of nuns. Regarding the election system, he plans to form a special committee to discuss potential improvements, from a recommendation system to direct elections.He also aims to transfer authority concentrated in the central office to the districts, gradually reducing central contributions and providing basic living expenses to all monks.Jinwoo plans to expand outreach efforts by utilizing artificial intelligence (AI) and new media to connect with younger generations, promoting meditation as 'mind security' and 'mind movement' to globalize 'K-meditation.' He also intends to brand Korean Buddhist culture globally through events like the Lantern Festival, temple stays, and temple cuisine.The General Secretary oversees the administrative affairs of the Jogye Order, the largest Buddhist organization in South Korea, managing 25 district headquarters, including Haeinsa, Tongdosa, and Songgwangsa, along with over 3,000 temples. The position includes authority over the appointment of administrative staff and heads of temples, as well as supervision of the order's assets and budget approvals for major temples. The General Secretary also automatically serves as the president of the Korean Buddhist Council and co-chair of the Korean Religious Leaders Council.With significant authority comes considerable challenges. The success of Jinwoo's term will depend on whether he can translate his promises of election reform, decentralization, and monk welfare into actual changes. Notably, his commitment to transferring power from the central office to the districts requires him to relinquish some of his own authority, making the implementation process particularly noteworthy. Additionally, reconciling internal conflicts revealed during the election, including disputes over candidate qualifications and allegations of election misconduct, will be crucial.The Jogye Order will hold a meeting of its elders on September 4 at 2 p.m. to proceed with the confirmation process for the newly elected General Secretary. Following this approval, Jinwoo Monk will begin his term as the 38th General Secretary on September 28, serving for four years. 2026-09-03 15:24:10
  • SK Telecoms AI Data Centers Evolve into AI Factories, Says Executive
    SK Telecom's AI Data Centers Evolve into 'AI Factories', Says Executive The focus of the artificial intelligence (AI) industry is shifting from data centers to 'AI factories.' Unlike traditional data centers that merely store data, AI data centers (AIDC) serve as critical infrastructure that performs large-scale computations for AI model training and inference, producing new 'intelligence' and tokens.Lee Yong-tak, Vice President of AI Policy and head of the AI Data Center Integration Promotion Team at SK Telecom, explained during a keynote speech at the 18th Good Growth, Good Jobs Global Forum (2026 GGGF) held on September 3 in Seoul, "While traditional Internet data centers (IDC) act as data storage, AI data centers function as AI factories, performing learning and inference through large-scale AI computations and providing the resulting intelligence and tokens externally."Lee emphasized that the importance of AI data centers is growing beyond mere industrial infrastructure to become assets for national economic security. By securing infrastructure capable of developing and operating AI models and services domestically, the outflow of national data and AI computations overseas can be reduced, contributing to the establishment of 'AI sovereignty.'The competition to attract global tech giants' AI data centers is intensifying, particularly in the Asia-Pacific (APAC) region, where countries are leveraging their unique strengths to attract investment."Japan is actively supporting the attraction of big tech data centers, while Malaysia highlights its relatively low labor and construction costs as advantages," Lee noted. "Australia boasts competitive power supply and ample land, leading to a competitive landscape among countries based on their respective strengths in attracting AI data centers."South Korea's strengths include stable power supply conditions and semiconductor competitiveness. The country has established a supply chain for key semiconductors such as GPUs and memory, enhancing its competitiveness as a destination for global tech investments in AI infrastructure.However, building large-scale AI data centers requires substantial power and funding. According to Lee, as of last year, there were 161 data centers and AI data centers operating in South Korea, with a total power capacity of approximately 2.3GW. Currently, 150 entities have applied to Korea Electric Power Corporation for power supply for new data centers, with a total demand of about 9.4GW. This indicates a significant potential increase in power demand as AI data centers grow larger.Investment costs are also considerable. Lee estimated that the investment for a 100MW AI data center being constructed by SK in Ulsan was around 7 trillion won last year, and considering recent price increases for GPUs and related equipment such as power, cooling, and air conditioning, the current estimate is about 9 trillion won. This suggests that establishing a 1GW AI data center could require tens of trillions of won in funding.As a result, large-scale AI data centers are likely to evolve beyond facilities used solely by specific companies to provide AI computation services externally, according to Lee. Increasing the scale of data centers enhances the efficiency of infrastructure like GPUs and reduces computation costs, making investment and collaboration with global tech giants crucial.In June, SK Group announced plans to gradually open a 5GW AI data center starting in 2029. Lee emphasized that the 5GW will not be built all at once but will be expanded in phases.Lee highlighted that now is the golden time for investment in AI data centers. Even if GPUs are secured, the lack of physical data centers for installation and operation means that proactive investment is necessary, as building a data center takes about 30 months. He explained that since AI computations are processed by connecting multiple GPUs in parallel, clustering data centers in specific regions can enhance infrastructure efficiency.SK is pursuing the construction of AI data centers centered around five regions, considering power supply, land acquisition, and regional balanced development. Lee stated, "The reason for announcing five regions includes regional balanced development, as we considered both power supply and regional balance." While the metropolitan area faces constraints in securing large-scale power, non-metropolitan areas have relatively more opportunities to secure power systems.To secure the massive investment needed, collaboration with global tech giants will be essential. SK Group will not bear the entire cost of the 5GW construction but will share investment and costs with external tech companies. Lee remarked, "SK cannot do everything alone; we will collaborate with external tech giants to share costs, while SK will focus on bringing in demand and planning investments and data center construction." He also indicated that SK Group itself could invest around 20 trillion won.To expand the AI data center industry, tax incentives should also be increased. Currently, AI data centers are recognized as facilities for commercializing national strategic technologies and can benefit from investment tax credits, but the system is primarily designed around self-consumption facilities.He stated, "AI data centers incur substantial costs and often provide the computational power produced externally. Therefore, a certain level of tax credits is necessary not only for self-consumption facilities but also for externally provided data centers." 2026-09-03 15:24:00
  • Truston Targets Taekwang Industrys Management Council, Considers Extraordinary Shareholder Meeting
    Truston Targets Taekwang Industry's Management Council, Considers Extraordinary Shareholder Meeting Truston Asset Management, the second-largest shareholder of Taekwang Industry, has directly raised concerns about the alleged involvement of the Taekwang Group's Management Council in the company's operations. Truston demanded a response within 30 days, warning that failure to comply could lead to actions such as convening an extraordinary shareholder meeting and filing a derivative lawsuit. On September 3, Truston sent an open letter to the board of directors of Taekwang Industry, posing ten questions regarding the legal basis, composition, decision-making process of the Management Council, and its relationship with Taekwang Industry's management. The aim is to clarify the circumstances and accountability if the Management Council has indeed been involved in major decisions of Taekwang Industry. Truston specifically referenced a 318.6 billion won exchangeable bond (EB) plan that Taekwang Industry pursued and later withdrew, as well as discussions about enhancing corporate value and shareholder return policies that may have been pre-discussed by the Management Council. They also highlighted that information regarding a 1.5 trillion won new business and EB plan was disclosed through the 'Taekwang Group Public Relations Office' before being approved and announced by the board on July 1 of last year. Truston argued that the Management Council has been operating for an extended period without being explicitly mentioned in the articles of incorporation, business reports, or corporate governance reports, effectively making it a 'phantom organization.' They also pointed out that if the Management Council has indeed been involved in decision-making, the board's inaction on this matter is also problematic. Concerns regarding shareholder returns were also raised. Truston noted that Taekwang Industry's average dividend payout ratio over the past 20 years has been around 1%, criticizing the lack of specific goals and timelines in the company's proposed dividend expansion and share buyback policies. Truston stated that if Taekwang Industry does not provide adequate responses to the open letter, it will consider actions such as demanding access to books, audits, filing derivative lawsuits, and convening an extraordinary shareholder meeting. They also mentioned that if the Management Council's involvement is confirmed, they may explore criminal responses related to obstruction of business. Truston emphasized, "If decisions have been made, accountability must follow, and if there is no accountability, they should step back."* This article has been translated by AI. 2026-09-03 15:20:20
  • Koreas Small Business Agency Launches Growth Support Programs for Young Entrepreneurs
    Korea's Small Business Agency Launches Growth Support Programs for Young Entrepreneurs The Small and Medium Business Administration (SMBA) is launching a series of follow-up growth programs for companies that have entered and graduated from the Young Entrepreneurship Academy, ranging from artificial intelligence (AI) training to investment attraction and market linkage.On September 3, the SMBA announced that it will implement programs tailored to the growth stages and needs of Young Entrepreneurship Academy companies, including 'Cheongsudong Day' and 'Demo Day' in September, and 'Prom Day' in October.The first event, 'Cheongsudong Day,' took place on September 2 at the Young Entrepreneurship Academy's Ansan campus, targeting startups from the metropolitan area.During the event, expert lectures were held on topics such as physical AI, digital transformation (DX), manufacturing AI transformation using patented technology (AX), and marketing changes in the AI era, including search engine optimization (SEO) and generative engine optimization (GEO). Networking opportunities were also provided for participating companies to share business experiences and information.On September 18, 'Demo Day' will be held at the Young Entrepreneurship Academy's Ansan campus, where 30 companies participating in the IR coaching program will present their business models and growth strategies, followed by a Q&A session with investment experts.The SMBA plans to enhance the investment attraction capabilities of participating companies through Demo Day and explore subsequent investment opportunities. In October, 'Prom Day' will be held for companies nearing graduation, offering support project guidance, networking with experts and businesses, market validation, and market linkage.Im Ji-hyun, principal of the Young Entrepreneurship Academy, stated, "For startups to achieve sustainable growth, it is essential not only to receive commercialization support but also to respond to new industrial changes and maintain continuous connections with businesses, experts, and investors. We will continue to provide various exchange and growth programs to help Young Entrepreneurship Academy companies share their experiences and capabilities, leading to investment attraction and sustainable growth."Meanwhile, the Young Entrepreneurship Academy is a leading domestic startup support program operated by the SMBA, selecting promising early-stage startups to assist with investment and market development, enabling them to grow into competitive companies in the global market. The number of alumni from the Young Entrepreneurship Academy has reached over 10,000 since the first graduating class in 2011 to this year's entrants.* This article has been translated by AI. 2026-09-03 15:20:00
  • Ansan Mayor Lee Min-keun Pledges to Address Local Issues
    Ansan Mayor Lee Min-keun Pledges to Address Local Issues Lee Min-keun, the mayor of Ansan, expressed his commitment on September 2 to address even the smallest inconveniences faced by residents in their daily lives, stating, "These issues are important, and I will find solutions on-site." During a field visit with residents of Gojan-dong as part of the initiative "2026 Citizens' Dreams Reflected in the Budget," Mayor Lee emphasized the importance of directly assessing local issues and developing practical solutions. Accompanied by local officials and residents, the mayor inspected areas where residents experience daily inconveniences and discussed improvement measures. The first stop was the Hwajeongcheon area, where residents requested safety measures against flooding during heavy rains and emphasized the need for dredging. They also suggested increasing weeding efforts over planting flowers along the riverbank to create a more pleasant environment. Mayor Lee noted that dredging operations are conducted annually on Hwajeongcheon and plans to push for dredging in the first half of 2027 as soon as the necessary budget is secured. Additionally, he stated that the frequency of weeding would be reviewed to enhance both the river's aesthetics and management efficiency. Next, he inspected the sidewalk in front of a commercial building at 603 Gojan-dong, where residents reported ongoing subsidence despite repeated repairs. They urged for a thorough investigation into the causes of the subsidence and the implementation of fundamental solutions to prevent recurrence. In response, Mayor Lee committed to closely examining the condition of the sewer lines in the subsidence area and utilizing internal road maintenance personnel for ongoing repairs. While on-site, the mayor listened to residents' feedback and ensured that relevant departments would address each issue carefully. Residents expressed positive reactions to the mayor's direct engagement with local issues. One resident remarked, "For us, having safe and clean paths and rivers is more tangible than large projects. I will keep an eye on whether the feedback from the field translates into actual budgets and projects, but I believe it is meaningful that the mayor came to listen to us." Mayor Lee Min-keun stated, "I will carefully listen to residents' voices on-site and examine the root causes of problems to lead to practical solutions." He added, "As the name 'Citizens' Dreams Reflected in the Budget' suggests, I will ensure that the opinions shared by residents are faithfully reflected in policies and budgets." Looking ahead, the mayor plans to continue field visits with residents from 25 districts through the '2026 Citizens' Dreams Reflected in the Budget' initiative to directly assess local issues and seek solutions together.* This article has been translated by AI. 2026-09-03 15:16:00