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  • Muan County Breaks Ground on Oryong Cultural Center, Set for 2028 Completion
    Muan County Breaks Ground on Oryong Cultural Center, Set for 2028 Completion Muan County in South Jeolla Province has officially begun construction on a cultural center that will provide residents of the Oryong district with integrated cultural, care, administrative, and health services.On the morning of September 1, Muan County held a groundbreaking ceremony for the 'Oryong Cultural Center' at the construction site located at 313-2 Oryong-ri, Ilwon-eup.The ceremony was attended by around 100 people, including county officials, invited guests, and local residents. The event featured a pre-performance by the county's traditional music ensemble, followed by a project progress report, speeches, a ceremonial groundbreaking, and a group photo.The Oryong Cultural Center will be built with a total investment of 25.5 billion won, covering an area of 6,497 square meters and consisting of four stories. The project aims for completion by 2028.The center will house a community cultural center, a shared care center, a joint childcare space, an Oryong branch office, and a health support center.Once completed, residents will have access to a range of public services closely related to their daily lives, including cultural activities, child care, administrative tasks, and health management, all in one location.The facility is expected to address the growing demand for living SOC and public services in response to the increasing population and changing living conditions in the Oryong district.Muan County plans to intensify construction following the groundbreaking and aims to complete the project within the planned timeframe through effective progress and safety management. Additionally, preparations for the operation of the center will be gradually implemented to ensure it serves as a space for residents' cultural and welfare activities and communication.Kim San, the mayor of Muan County, expressed hope that the Oryong Cultural Center will enhance residents' cultural and welfare opportunities and improve their quality of life, stating, "We will carry out the project without any setbacks to create a multifunctional cultural space that residents can conveniently use."The Oryong Cultural Center represents a shift from standalone cultural facilities to a multifunctional public facility that integrates cultural, care, childcare, administrative, and health-related functions within a single building. Muan County believes that once completed, the center will reduce the inconvenience of residents having to visit multiple institutions and improve accessibility to public services in the Oryong district.* This article has been translated by AI. 2026-09-01 17:28:00
  • South Korea Approaches $1 Trillion in Annual Exports, But Competitiveness Varies by Sector
    South Korea Approaches $1 Trillion in Annual Exports, But Competitiveness Varies by Sector South Korea is on the verge of achieving its first annual export milestone of $1 trillion, but experts caution that the increase in export figures does not necessarily indicate a uniform strengthening of competitiveness across all sectors. While semiconductors have seen a boost in both price and volume, the performance of secondary batteries varies significantly by product category. According to the Ministry of Trade, Industry and Energy's report on August trade trends, semiconductor exports surged to $46.65 billion last month, marking a 209.0% increase compared to the same month last year. This figure represents a record high, accounting for 47.5% of total exports. The demand for high-bandwidth memory (HBM) and DDR5, driven by increased investments in artificial intelligence (AI) infrastructure from global tech giants like Google and Amazon, has contributed to this growth. The rise in memory prices, coupled with increased export volumes, has pushed semiconductor exports above $40 billion for three consecutive months. Secondary battery exports also showed improvement, reaching $600 million in August, a 24.0% increase from the same month last year. The Ministry attributed this growth to the recovery of battery prices, an increase in new orders for electric vehicles, and the activation of the energy storage system (ESS) market. However, the trends within secondary battery exports reveal mixed results across different categories. An analysis of trade statistics by the Korea Customs Service showed that from January to July this year, lithium-ion battery exports increased by 14.3% in value and 8.2% in weight compared to the same period last year. The export value per ton rose by 5.6%, but this figure is influenced by changes in product composition and does not directly reflect actual sales prices or product competitiveness. For electric vehicle batteries, the export value per ton increased by 6.9%, but the export weight decreased by 14.7%, leading to an overall decline in export value by 8.8%. In the case of ESS batteries, while the export value per ton rose by 11.0%, the export weight fell by 10.6%, resulting in a slight decrease in total export value by 0.8%. Conversely, other batteries saw a 13.9% drop in export value per ton, but a 100.9% surge in export weight led to a 73.0% increase in total export value. This complexity makes it difficult to attribute the improvement in secondary battery exports solely to price increases or recovery in product competitiveness. Past analyses of competitiveness have also highlighted significant differences by product category. A study by the Hyundai Economic Research Institute, which examined the contribution of competitiveness by product from 2022 to 2024, found that semiconductors accounted for a 12.1 percentage point contribution to competitiveness in 2024. In contrast, secondary batteries and general machinery showed contributions of -30.6 and -16.4 percentage points, respectively, largely due to intensified price competition from the expansion of low-cost lithium iron phosphate (LFP) batteries and general machinery exports from China. However, since this analysis is based on data up to 2024, it is challenging to immediately assess recent export recoveries as indicators of strengthened or weakened competitiveness. Last month, general machinery exports also increased by 1.8% compared to the same month last year, aided by tariff reductions on certain items. Exports of general machinery to China rose by 33%. Other sectors, such as biohealth and cosmetics, also performed well. In August, biohealth exports increased by 22.3% to $1.41 billion, while cosmetics exports surged by 52.1% to $1.31 billion, both marking record highs for August. Lee Ye-ram, a senior researcher at the Hyundai Economic Research Institute, stated, "The increase in semiconductor exports is due not only to rising prices but also to a significant increase in export volumes, and the competitiveness in high-quality memory sectors remains strong. Given that other sectors like bio and consumer goods are also showing positive trends, further analysis is needed to determine whether the competitiveness gap between product categories is widening." * This article has been translated by AI. 2026-09-01 17:24:00
  • Airbility raises 6.5 billion won to shoot down drones with drones
    Airbility raises 6.5 billion won to shoot down drones with drones SEOUL, September 01 (AJP) - A Seoul aerospace startup has closed a Series A round to build small aircraft that hunt other aircraft, betting that the cheapest way to stop an incoming attack drone is another drone rather than a missile. Airbility said Tuesday that the 6.5 billion won ($4.7 million) round was led by Sazze Partners, a Silicon Valley venture capital firm, with existing backer Stonebridge Ventures returning and the Industrial Bank of Korea joining as a new shareholder. Cumulative funding now stands at 10.5 billion won. The company declined to disclose its valuation. The round lands in the middle of the largest funding boom the defense technology sector has seen. Defense tech startups raised $14.6 billion in the first five months of 2026 alone, already ahead of the full-year record of $9.6 billion set in 2025. Airbility builds what the industry calls air-to-air hard kill, meaning an interceptor aircraft physically strikes or captures a hostile drone in flight rather than jamming its signal. Soft-kill methods fail against drones that fly preprogrammed routes and never need to talk to an operator. Three interceptors are planned. In the company's account, the AB-U10 fires a net at its target at speeds up to 180 kilometers per hour, the AB-U2 is a payload-sized drone carried aloft by a larger mothership aircraft and released to strike directly, and the AB-U4L is a fixed-wing model launched from a tube at up to 300 kilometers per hour. All three sit on the same high-speed electric vertical takeoff and landing platform, an airframe that rises like a helicopter and then transitions to winged forward flight. Airbility said the AB-U10 will reach the market by the end of this year and the other two in the first half of 2027. The economics are the pitch. In Ukraine, air defense crews have repeatedly spent multimillion-dollar surface-to-air missiles on Iranian-designed Shahed attack drones that cost a small fraction of that. Airbility puts the Shahed at roughly $35,000 a unit against about $4 million for a Patriot missile, and says a single engagement using its method costs between $50 and $3,000. The company argues the same arithmetic works abroad. Foreign systems from suppliers such as Anduril of the United States face origin controls and procurement reviews that slow deliveries, Airbility said, while the AB series is built on Korean technology, can be sold into a wider set of countries and is priced at roughly one-tenth of the alternatives. Discussions are under way with more than nine countries across the Middle East, Southeast Asia and Latin America, according to the company, with four memorandums of understanding and two joint ventures in progress. The engineering comes out of South Korea's state weapons laboratory. Airbility was founded in November 2023 by researchers from the Agency for Defense Development who led work on domestic aircraft including the T-50 supersonic trainer and the KF-21 fighter, together with staff from Hyundai Motor and LG Electronics. Of 26 employees, 80 percent work in research and development. In December 2025 the company said it flew three prototypes through transition, the passage from vertical lift into winged flight and the hardest phase of an eVTOL envelope to prove. Government money has followed. Airbility was recently selected for the Korea AeroSpace Administration's 2026 Scale-up TIPS program, worth 3 billion won in research funding, and is building a domestic record through projects with the Marine Corps and the Defense Acquisition Program Administration. Sazze Partners has invested in more than 100 artificial intelligence, software and consumer companies since 2018, including the South Korean AI firm Upstage. Airbility said the round is the firm's first investment in defense. "What caught our attention was a company solving the cost asymmetry problem in the counter-drone market, where blocking a single drone can cost hundreds of times more than the drone itself," said Lee Ki-ha, managing partner at Sazze Partners. "If they can convert the rapidly rising global demand for counter-drone systems into contracts, we expect them to grow into a company that represents South Korea's defense sector." Co-chief executive Lee Jin-mo said the goal is to widen the business from selling airframes to selling integrated systems and to reach 50 billion won in cumulative revenue by 2028. South Korea's defense industry has crossed $10 billion in annual orders, and the government has made becoming one of the world's four largest arms exporters a national policy goal. Anduril closed a $5 billion Series H in May at a $61 billion valuation, and Shield AI raised at $12.7 billion in March. Airbility has raised 10.5 billion won since it was founded. 2026-09-01 17:23:19
  • KG Mobility Reports 22.6% Drop in August Sales Amid Domestic Weakness
    KG Mobility Reports 22.6% Drop in August Sales Amid Domestic Weakness KG Mobility (KGM) has reported a decline in sales due to weak domestic demand. KGM announced on September 1 that its total sales for August reached 6,860 units, a 22.6% decrease from 8,860 units in the same month last year. The drop was primarily driven by poor domestic sales, which fell from 4,055 units to 2,300 units, a decline of 43.3%. Exports also decreased, dropping from 4,805 units to 4,560 units, a 5.1% reduction. Additionally, a base effect contributed to the decline. Sales of the Actyon Hybrid (HEV) and the Musso Electric Vehicle (EV), which had performed well last year, have slowed significantly. These two models saw respective sales drops of 57.3% and 87.5% compared to the same month last year. To boost sales, KGM is enhancing its strategies in both global and domestic markets. Last month, the company introduced its brand in Myanmar to expand export volumes and unveiled its electric vehicle lineup. KGM is also accelerating its market penetration by expanding semi-knocked down (KD) operations in Saudi Arabia and Vietnam. Furthermore, KGM plans to focus on increasing sales of EVs and HEVs in the domestic market.* This article has been translated by AI. 2026-09-01 17:20:10
  • U.S. Treasury Secretary Pressures Japan on Rate Hikes Amid Yen Weakness
    U.S. Treasury Secretary Pressures Japan on Rate Hikes Amid Yen Weakness U.S. Treasury Secretary Scott Vessenet has urged Japan to simultaneously raise interest rates and ensure fiscal sustainability. Following a joint U.S.-Japan intervention in the foreign exchange market at the end of July, the yen's value fell back to around 160 yen per dollar, indicating that market interventions alone may not be sufficient to reverse the yen's decline.Meanwhile, Japan's 10-year government bond yield surged to 3%, marking its highest level in 30 years. To prevent further yen depreciation, the Bank of Japan (BOJ) would need to raise policy rates, but this could increase the government's interest burden.According to Japan's public broadcaster NHK, Erin Brown, the U.S. Treasury's Deputy Assistant Secretary for International Affairs, stated that Vessenet met with BOJ Governor Kazuo Ueda and Finance Minister Shunichi Suzuki during the G20 finance ministers and central bank governors meeting. Brown noted that Vessenet emphasized the importance of Japan clearly presenting its plans for fiscal sustainability and the path for interest rate hikes to the market.Finance Minister Suzuki confirmed the meetings, marking the first face-to-face discussions since the U.S.-Japan coordinated intervention at the end of July. After the talks, Suzuki told reporters, "An orderly yen exchange rate is essential for the stability of global financial markets, and our cooperative response contributes to this common goal." He added that he stressed the need to balance a strong economy with fiscal sustainability and believed he gained understanding on this point.However, he clarified that discussions on specific methods for interest rate hikes were left to the BOJ. Following the intervention on July 31, the yen had briefly risen to around 155 yen per dollar but has since retreated to around 160 yen.In a CNBC interview on July 31, Vessenet expressed confidence that the Japanese government and BOJ would take measures leading to a stronger yen. He noted that the market is already reflecting the possibility of early rate hikes by the BOJ, stating, "I have information that the market does not possess." Regarding foreign exchange market interventions, he remarked, "We cannot influence the natural equilibrium level; all we can do is send signals."Vessenet's call for changes in Japan's monetary and fiscal policies stems from concerns that instability in the yen and Japanese bond market could spill over into the U.S. market. The Nihon Keizai Shimbun (Nikkei) reported that the U.S. has been wary not only of yen depreciation but also of the risk that rising long-term interest rates in Japan could push U.S. rates higher.If the BOJ raises policy rates, the interest rate differential between the U.S. and Japan would narrow, potentially stabilizing the yen. Conversely, if the Takahichi government’s aggressive fiscal policies lead to increased fiscal instability and a surge in Japanese long-term interest rates, domestic institutional investors, such as life insurance companies, may reduce their investments in U.S. Treasury bonds and redirect funds back to Japan. A decrease in demand for U.S. Treasuries could lead to higher U.S. bond yields, which would also burden American households and businesses. Ultimately, the U.S. request can be interpreted as a call for Japan to raise policy rates in a predictable manner while preventing a surge in long-term rates stemming from fiscal instability.On the same day, the benchmark 10-year government bond yield in the Tokyo bond market reached 3.000% during trading. This marks the first time it has exceeded 3% since September 1996. According to Nikkei, financial markets are predicting a greater than 90% chance that the BOJ will raise rates at its monetary policy meeting on September 17-18. There is also a 70% likelihood of a 0.5 percentage point increase by December. Expectations that the BOJ will not stop at a single hike in September but will continue to raise rates quickly have fueled the rise in long-term interest rates.While policy rates and 10-year bond yields are different in nature, they are not unrelated. If expectations of higher yields due to the BOJ's rate hike outlook arise, investors may seek to sell existing low-yield bonds. An increase in bond supply can lead to falling prices, which in turn raises yields, as bond prices and yields move inversely. The 10-year yield is determined not only by monetary policy but also reflects inflation, economic growth rates, and fiscal outlooks.However, the rise in long-term interest rates on this day was not solely influenced by the BOJ's rate hike expectations. Nikkei noted that Federal Reserve Chair Kevin Warsh's comments at the Jackson Hole meeting on August 28, expressing uncertainty about inflation moderation and stating, "There are things we need to do," contributed to the rise in U.S. 10-year Treasury yields to their highest level since January 2025, at around 4.7%. Additionally, rising international oil prices due to instability in the Middle East have heightened inflation concerns.Concerns over Japan's fiscal expansion are also growing. The budget requests from various ministries for the 2027 fiscal year have surged to a record high of around 143 trillion yen, prompting caution regarding the Takahichi administration's aggressive fiscal policies, which have fueled bond sell-offs. The long-term interest rate, which was around 1.6% when Prime Minister Takahichi took office last October, has reached 3% in less than a year.The question remains whether the yield rising to 3% can revive demand for government bonds. In a recent auction conducted by the Japanese Ministry of Finance, the highest accepted yield for 10-year bonds was 3.011%, surpassing 3% for the first time since August 1996. As buying interest emerged in response to the yield level, the market assessed that "it was not as poor as feared."However, if investors expect that rising yields due to fiscal instability will continue, they may delay purchases of government bonds to avoid potential losses from falling prices. Ryutaro Kimuura, chief bond strategist at BNP Paribas Asset Management, told Nikkei, "A long-term yield of 3% appears attractive for investment, but concerns over expansionary fiscal policy are making investors cautious."The market is also keeping the possibility of further increases in Japan's long-term interest rates open. A recent emergency survey of market experts by Nikkei indicated that while the forecast for this year's peak is generally around 3.0-3.15%, there are projections that it could rise to 3.5% or even around 4% next year. In a situation of rising prices, if the government continues to expand fiscal policy, the pressure for additional rate hikes from the BOJ will increase, and combined with fiscal instability, long-term interest rates could rise further.Ultimately, Japan faces the dual challenge of raising policy rates to prevent yen depreciation while restoring fiscal credibility to avoid a surge in long-term interest rates and an increased interest burden on the government.* This article has been translated by AI. 2026-09-01 17:20:00
  • Jeonnam Bio Center Aims to Strengthen Competitiveness of Gokseong Companies
    Jeonnam Bio Center Aims to Strengthen Competitiveness of Gokseong Companies The Jeonnam Bio Center is working to enhance the competitiveness of small and medium-sized enterprises in the Gokseong region and support their commercialization efforts. The center is focusing on diagnosing individual business issues, from securing intellectual property to strengthening market competitiveness and developing export channels, and providing tailored growth strategies. On September 1, the Jeonnam Bio Center, led by Director Yang Wan-gil, held an expert seminar and consulting session as part of the 2026 Gokseong County regional industry development project at the Gokseong Future Education Foundation. This event was organized to boost the capabilities of local businesses and establish a foundation for sustainable growth. It moved beyond simple education to address real-world issues faced by companies, such as intellectual property, commercialization, and securing sales channels, in collaboration with experts. Representatives from 40 companies, including officials from Gokseong County and participating organizations, attended the event. Participants shared support strategies for different stages of business growth and discussed necessary institutional and practical support measures during the project implementation process. In a keynote address, Park Jong-han, a patent attorney from Hanlim Patent Law Firm, discussed strategies for securing and utilizing intellectual property, focusing on the successes and failures associated with patents and trademarks. Following that, Professor Park Sung-jin from Korea University presented on securing market competitiveness and commercialization strategies for Gokseong companies, outlining directions for business development and growth strategies. After the presentations, consulting sessions with experts in intellectual property, commercialization strategies, and export channel development were conducted. These sessions were tailored to the specific business conditions and challenges of each company, emphasizing practical solutions. The Jeonnam Bio Center plans to integrate the results of this seminar and consulting into future business support programs, continuing to provide assistance aligned with the growth stages of local companies. The center aims to enhance the commercialization capabilities and support for securing sales channels to ensure that companies' technologies and products can effectively enter the market and increase sales. Director Yang Wan-gil stated, "This seminar and consulting session is an opportunity to find practical support for the issues companies face on the ground and to strengthen networks among businesses. We will continue to actively promote field-centered support for local companies to secure self-sufficiency and expand into global markets."* This article has been translated by AI. 2026-09-01 17:20:00
  • Hyundai Motors August sales fall sharply due to strikes
    Hyundai Motor's August sales fall sharply due to strikes SEOUL, September 1 (AJP) - Hyundai Motor's sales fell sharply in August as production was disrupted by labor strikes, the automaker said on Tuesday. It sold 288,574 vehicles worldwide in August, down 14.2 percent from a year earlier, as domestic sales plunged 41.1 percent to 34,333 and overseas sales fell 8.5 percent to 254,241. Sedans led domestic sales with 10,922 units including 5,931 Grandeurs, 3,105 Sonatas and 1,462 Avantes. It also sold 10,810 recreational vehicles or sport utility vehicles (SUVs), led by the Santa Fe with 3,596 units, followed by the Palisade with 1,812 and the Ioniq 5 with 1,372. Sales of small commercial vehicles totaled 6,503 units including 4,224 Porters and 2,184 Starias, while medium and large buses and trucks added another 1,553. Sales of its luxury brand Genesis totaled 4,545 vehicles, led by the G80 with 1,460, followed by the GV70 with 1,406 and the GV80 with 1,240. "We will recover sales affected by production disruptions due to strikes last month by expanding our market share with the launch of new and facelifted versions of the Grandeur and Avante sedans," a Hyundai spokesman said. Unionized workers at Hyundai Motor reached a wage agreement for this year the previous day, ending months of negotiations that began in May and resulted in about 120 hours of production disruptions including a full-day strike last Monday, the union's first 24-hour walkout in a decade. AJP Takeaways • Hyundai Motor's global sales fell 14.2 percent year over year to 288,574 vehicles in August amid production disruptions caused by labor strikes. • Domestic sales plunged 41.1 percent to 34,333 vehicles, while overseas sales declined 8.5 percent to 254,241. • Hyundai Motor plans to recover lost sales by expanding its market share with new and facelifted versions of the Grandeur and Avante sedans. 2026-09-01 17:17:22
  • The Balvenie Unveils 88-Year-Old Whiskey Collection in Seoul
    The Balvenie Unveils 88-Year-Old Whiskey Collection in Seoul "Korea is one of the most important markets for Balvenie," said Jim No, the representative of William Grant & Sons Korea, during the unveiling of the Balvenie '1931 Collection' on September 1 at S50 in Seoul. No explained the choice of Seoul as the first global reveal site, stating, "The media and whiskey community in Korea have shown deep interest in Balvenie for a long time, and there has been significant curiosity about how Balvenie whiskey is made. Therefore, I believe it is very meaningful to unveil this collection in Seoul before anywhere else in the world." The single malt whiskey brand Balvenie chose Seoul to debut its oldest whiskey, aged 88 years. The event showcased the brand's nearly 100-year history through the lens of contemporary artist Daniel Arsham, who infused the craftsmanship of whiskey-making with his art. No emphasized that the 1931 Collection is "not just a new product launch," but a project commemorating an important chapter in Balvenie's history. He noted that it embodies the values of patience, craftsmanship, and the commitment to doing things the right way, even if it takes longer, passed down through generations. The 'Balvenie 1931 Collection 88-Year' is the oldest whiskey ever released by the brand. The spirit was distilled in 1931 and aged for 88 years in a single oak cask. In 2019, Kelsey McKechnie, Balvenie's Malt Master, decided to bottle it after determining it had reached optimal maturation. Only 17 bottles were produced from the remaining spirit after such a long aging process. McKechnie explained, "The role of the Malt Master is to consistently maintain the quality and characteristics of Balvenie whiskey. I continuously monitor the spirit in the cask to check its maturation and quality." The 88 years of aging were visually represented through Arsham's artwork. The centerpiece of the event featured a sculpture made of eight layers of hand-patinated bronze, each symbolizing a decade. At the center was the Balvenie 1931 Collection 88-Year. The back of the sculpture displayed 88 oak layers, incorporating parts of a copper still that had been retired from the Balvenie distillery. Arsham stated, "The front of the piece uses materials like copper from the distillery, while the back features oak used for whiskey aging. I wanted to express the process of whiskey moving from the copper still to the oak cask and aging over time." Balvenie also highlighted its core value of craftsmanship during the event. The five rare skills that Balvenie promotes include growing its own barley, traditional 'home floor malting,' coopering, managing copper stills, and the intuition of the Malt Master in determining maturation and bottling. A performance reinterpreting the malting process, where artisans flip barley, was also presented by dancers, showcasing the human element in growing barley, managing casks, and waiting through the long aging process. Inspired by the 88-year-old whiskey, Balvenie will also release the '1931 Collection 12-Year' in Korea. This whiskey is made using barley malted directly at the Balvenie distillery, aged in American oak casks, and then transferred to European oak casks that previously held sherry from the Jerez region of Spain to enhance its flavor. The 12-Year whiskey tasted at the event featured Balvenie's signature honey notes, subtle spice, and smooth texture. Charlie Metcalfe, Balvenie's global brand ambassador, identified craftsmanship and quality as the intersection of values between Korean consumers and Balvenie. He remarked, "Balvenie is committed to the fundamentals and values quality over quantity. I believe this aspect can create good synergy in the Korean market." Following the Seoul launch, Balvenie plans to showcase this project in Shanghai, Taipei, New York, and Miami. From September 2 to 6, the exhibition will be open to the public at S50, featuring performances and tasting programs.* This article has been translated by AI. 2026-09-01 17:08:00
  • President Lee: Most Police Officers Are Diligent Despite Criticism
    President Lee: Most Police Officers Are Diligent Despite Criticism President Lee Jae-myung addressed the controversy surrounding the inadequate investigation of missing persons in Jeju on September 1, stating, "There has been a lot of criticism directed at the police recently, but it is clear that the majority of diligent police officers are doing their best."During a Cabinet meeting held at the Blue House, President Lee remarked, "There are various discussions regarding police reform." He emphasized the importance of the police not only in maintaining national order but also in their service roles, noting that the police force is significantly understaffed and overworked, which contributes to these issues. He affirmed, "Overall, it is true that police officers work sincerely and diligently."He continued, "However, there are always a few bad apples that tarnish the reputation of the majority of hardworking and dedicated police officers. It is unfortunate that these few individuals damage the honor and pride of the many who serve faithfully."President Lee further stated, "If the majority engage in corrupt, incompetent, and irresponsible behavior, the organization cannot survive. The fact that South Korea is now recognized globally is largely due to the efforts of public officials."He concluded, "While there may be some issues and irresponsibility, they are in the minority. The overwhelming majority are fulfilling their roles diligently. I hope the public understands that this is also true for the police. I encourage the officers working hard on the front lines."* This article has been translated by AI. 2026-09-01 17:04:00
  • Government Agencies Sign MOU to Strengthen Industrial Technology and Intellectual Property
    Government Agencies Sign MOU to Strengthen Industrial Technology and Intellectual Property The government is integrating intellectual property strategies into the entire process of industrial technology, from research and development (R&D) to commercialization and addressing technology leakage and intellectual property disputes.On September 1, the Ministry of Trade, Industry and Energy and the Korean Intellectual Property Office signed a memorandum of understanding (MOU) in Jongno-gu, Seoul, aimed at enhancing the competitiveness of industrial technology and intellectual property for businesses. This initiative comes amid intensifying international competition over advanced technologies such as semiconductors and artificial intelligence (AI), linking industrial and intellectual property policies to support technology development and commercialization.According to the National Intelligence Service, there have been 105 cases of overseas leakage of industrial technology in the past five years, with estimated damages around 25 trillion won. This underscores the growing need to connect advanced technology development with patent acquisition and technology protection within a unified policy framework.Under the agreement, the two ministries will collaborate on several fronts: linking policies and projects related to industrial technology and intellectual property, strengthening connections between industrial technology R&D and intellectual property, promoting commercialization and utilization based on industrial technology and intellectual property, enhancing economic security through intellectual property, and addressing domestic and international technology infringements and disputes, including artificial intelligence transition policies.Initially, during the R&D phase, the ministries will support companies and research institutions in designing their intellectual property (IP) portfolios by analyzing existing patents and technology trends. This aims to reduce redundant investments in already developed or patented technologies and ensure that research outcomes lead to domestic and international patent acquisitions.In the commercialization phase, the Ministry of Trade and the Korean Intellectual Property Office will connect their respective technology and intellectual property transaction platforms. This will facilitate easier access for companies to find and acquire technologies held by universities and public research institutions by sharing transaction information and enhancing intermediary functions.For companies seeking to enter overseas markets, support will be provided for securing local patents and utilizing intellectual property. The rationale is that even with technology, failing to register patents in key export countries can hinder effective responses to patent offensives or technology imitation by local competitors.Joint responses to technology leakage and intellectual property infringements and disputes will also be strengthened. The Ministry of Trade's industrial technology protection policies will be linked with the Korean Intellectual Property Office's patent and trade secret investigation and dispute response functions, supporting companies from damage prevention to leakage investigations and responses to domestic and international disputes.Moon Shin-hak, Deputy Minister of Trade, stated, "To enhance the competitiveness of advanced industries, it is crucial to proactively develop excellent technologies and ensure that their outcomes are quickly commercialized and safely protected. We will actively support the technological innovation of companies to strengthen national competitiveness."Kim Yong-sun, head of the Korean Intellectual Property Office, remarked, "For companies to achieve global competitiveness, they must proactively secure domestic and international intellectual property rights and strategically utilize them in the commercialization process, including funding and dispute resolution. We will strengthen policy support to help companies grow based on a robust intellectual property strategy."* This article has been translated by AI. 2026-09-01 17:00:20