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  • South Korea to Invest 43.3 Trillion Won in Youth Support Programs Next Year
    South Korea to Invest 43.3 Trillion Won in Youth Support Programs Next Year 정부가 청년의 취업과 주거, 자산 형성 등을 지원하는 데 내년 43조3000억원을 투입한다. 올해보다 관련 예산을 50% 이상 늘리고 출생부터 자산 형성까지 성장 단계에 맞춰 지원하는 방식이다.정부는 28일 청와대에서 대통령 주재로 ‘청년 예산 언박싱(UNBOXING) 2027’ 행사를 열고 이 같은 내용의 ‘청년 성장단계별 종합투자 추진전략’을 발표했다.정부는 청년 정책을 일자리·창업, 교육·주거·자산, 생활·문화 등 세 분야로 나눠 지원하기로 했다. 이에 따라 청년 관련 종합투자 규모를 올해 28조2000억원에서 내년 43조3000억원으로 53.5% 확대한다.정부는 출생부터 교육, 취업, 자산 형성, 주거, 혼인까지 각 단계에서 정책 지원을 받을 경우 18세까지 최대 1억4057만원, 34세까지 최대 1억9582만원의 혜택을 받을 수 있을 것으로 추산했다. 2027년 지방 우대지역에서 첫째로 태어나고 부모 소득이 기준중위소득 100%인 경우를 가정한 수치다.취업 지원도 강화한다. K-뉴딜 아카데미를 통해 5만명의 직무 역량 강화를 지원하고 대학생 첫경력 프로젝트를 통해 6만명에게 취업 기회를 제공한다. 중소·중견기업 채용 장려금은 연간 720만원 수준으로 지원한다. 프리랜서 경력과 자격 등을 체계적으로 관리할 수 있는 가칭 ‘커리어뱅크’도 구축한다.창업 분야에서는 ‘청년 창업 패키지’를 통해 교육부터 투자 유치까지 전 과정을 지원한다. 창업 초기 청년에게는 월 보험료의 60~80%를 지원해 휴·폐업 이후 재도전할 수 있는 기반도 마련한다.주거와 자산 형성 지원도 확대한다. 청년층을 대상으로 신설되는 보편형 공공임대주택의 50% 이상을 공급하고 청년 보편형 전세주택도 새로 공급한다. 청년월세와 전세보증금 반환보증 보증료 지원도 확대한다.자산 형성 지원에는 ‘우리아이자립펀드’, ‘청년미래적금’, ‘ISA 소득공제’ 등이 포함된다. 취업·창업을 준비하는 청년에게는 ‘청년 기회자금’을 통해 거치기간 중 이자를 면제해 초기 자립을 지원한다.청년의 생활과 가족 형성을 지원하는 정책도 마련한다. 고립 청년 6000명에게 회복 프로그램을 제공하고 취약 청년 3000명에게 맞춤형 일경험을 지원한다. 군 복무자를 위한 병내일준비적금은 월 납입 한도를 55만원으로 두고 정부가 100% 매칭 지원한다.혼인과 출산을 지원하기 위해 생애 한 차례 100만원을 지급하는 ‘혼인지원금’과 출산 시 1000만~2000만원을 연간 네 차례 나눠 지급하는 ‘아이맞이지원금’도 도입한다. 0~1세에 월 최대 60만원, 2~12세에 월 최대 30만원을 지급하는 ‘아동기본수당’도 내년 7월부터 시행할 계획이다.추가 세수를 재원으로 하는 ‘미래대응기금’도 신설해 청년의 일자리·창업과 주거·자산 형성을 뒷받침한다. 정부는 청년을 비롯한 국민의 의견을 수렴해 중장기 국가발전전략을 연내 마련할 계획이다.* This article has been translated by AI. 2026-08-28 16:32:10
  • Government to Provide 200 Million Won Support from Birth to Independence; Youth Budget Set at 43.3 Trillion Won for Next Year
    Government to Provide 200 Million Won Support from Birth to Independence; Youth Budget Set at 43.3 Trillion Won for Next Year The government plans to increase next year's youth-related budget by more than 15 trillion won compared to this year, setting it at 43.3 trillion won. This will expand government benefits for first-born children in designated local areas to a maximum of 195.82 million won, available until they turn 34.On August 28, President Lee Jae-myung hosted the 'Youth Budget Unboxing 2027' event at the Blue House, where the 'Comprehensive Investment Strategy for Youth Growth Stages' was announced.The financial investment for youth-related initiatives will rise from 28.2 trillion won this year to 43.3 trillion won next year, an increase of 15.1 trillion won (53.5%). The support scope will expand from job creation to include birth, childcare, education, employment, asset formation, housing, and marriage.According to government estimates, the maximum benefits an individual can receive are 140.57 million won by age 18 and 195.82 million won by age 34. This assumes a first-born child born in a designated local area in 2027, with parents earning 100% of the median income, combining support across various growth stages.◇New Child Independence Fund Offers Up to 100 Million Won; 20 Million Won for BirthA new 'Child Independence Fund' will be established, allowing the government and parents to jointly save and invest from birth until the child turns 18. Depending on contributions and investment returns, the fund is designed to provide between 60 million and 100 million won at maturity.For children from households earning less than 50% of the median income, the government will provide 1.2 million won annually, regardless of parental contributions. For households earning between 50% and 100% of the median income, if parents contribute 500,000 won, the government will match it with 1 million won. For households earning between 100% and 150% of the median income, a parental contribution of 1 million won will be matched by the government with another 1 million won.Child allowances, parental benefits, and first meeting vouchers will be integrated and restructured. Starting July 2027, child support payments of 10 million to 20 million won will be distributed in four installments based on birth order and residence.A basic child allowance will also be introduced at the same time, providing up to 600,000 won per month for children aged 0-1 and up to 300,000 won per month for those aged 2-12. Pregnant women will receive a monthly package of eco-friendly agricultural products worth 40,000 won for 12 months.Couples who have registered their marriage will receive a one-time marriage support payment of 1 million won, regardless of income. If either spouse meets the general income criteria, they will be eligible for housing purchase or lease policy loans, reducing disadvantages based on combined household income.◇Full Tuition Coverage for Local National Universities; 60,000 Students Gain First Job ExperienceFull scholarships will be established for 30 local national universities, excluding medical and pharmacy fields. An investment of 600 billion won will be made to enhance infrastructure for training talent in advanced fields at local private universities, increasing the number of regional talent scholarship recipients from 4,000 to 10,000.University and graduate students will have access to a consortium-based AI subscription service, allowing them to utilize generative AI without personal costs. An 'X+AI Transition Curriculum' combining existing majors with AI will be introduced at 40 universities, accommodating 20,000 students. The annual education cost is set at 6.7 million won, with top students receiving 800,000 won monthly.Sixty thousand university students will participate in the 'First Job Project,' gaining work experience in companies and local settings. The government and businesses will share the internship support costs, providing participants with 2.3 million won monthly.The number of participants in the K-New Deal Academy will increase from 10,000 to 50,000, while AI vocational training will expand from 10,000 to 20,000. Small and medium-sized enterprises hiring training graduates will receive an annual incentive of 7.2 million won, while regional large companies will receive 3.6 million won.The government aims to create 200,000 private and public youth jobs by 2030 and nurture 100,000 young entrepreneurs. Up to 150 million won will be provided to 200 technology-based youth startup companies.Youth under 35 starting a business within five years will receive 60-80% of their startup insurance premiums covered. The plan includes coverage for demolition costs, rent, and re-establishment costs up to 20 million won in case of business closure.◇Interest Exemption Before Employment; Monthly Rent Support Income Criteria ExpandedUnemployed youth with an annual income of 35 million won or less will be eligible for the 'Youth Opportunity Fund,' providing up to 20 million won over their lifetime. They can borrow a maximum of 5 million won at once and up to 7.5 million won annually. Interest will be waived during the grace period before employment or entrepreneurship, with a subsequent interest rate of 2-5% applied.The general youth savings plan will eliminate income requirements. The government contribution rate for the preferential plan will increase from 12% to 15%, with a 25% rate for employees of local small and medium-sized enterprises.The income criteria for youth monthly rent support will expand from 60% to 100% of the median income. The support period for youth in lower-income brackets will double from 24 months to 48 months. The monthly rent tax deduction rate for youth will be set at 17%, with the deduction limit raised from 10 million won to 12 million won annually.The proportion of public rental housing available to youth will be set at over 50%. The support limit will be increased to 240 million won, and the income criteria for youth lease rentals will be relaxed.Youth under 39 purchasing non-apartment housing or officetels for the first time will be eligible for the 'Youth Future Housing Loan.' Young individuals with an annual income of 70 million won or less will benefit from a maximum loan-to-value ratio (LTV) of 80% and preferential interest rates of up to 2.1 percentage points. The supply scale will be 30 trillion won, operating for two years.A combined guarantee for lease and monthly rent loans, the 'Youth Lease-Monthly Rent Combined Guarantee,' will also be provided, with a scale of 45 trillion won over two years. The loan limit will be up to 200 million won, covering 90% of the rental deposit, while newlywed and child-rearing households can access up to 300 million won.To support living expenses, the government will provide a cultural pass annually to all youth aged 19-34, adding sports to the list of eligible activities for performances, exhibitions, movies, and books. The 'Soldier Tomorrow Preparation Savings' program will match monthly contributions of up to 550,000 won.The government plans to establish a future response fund using additional tax revenue, focusing on investments in youth jobs, assets, housing, marriage, and childbirth initiatives. A mid- to long-term national development strategy will also be announced within the year to proactively prepare for structural changes.* This article has been translated by AI. 2026-08-28 16:32:00
  • Government to Create 300,000 Jobs and Support Young Entrepreneurs
    Government to Create 300,000 Jobs and Support Young Entrepreneurs The South Korean government plans to create 200,000 jobs in the private and public sectors for young people and train 100,000 young entrepreneurs by 2030. Young individuals employed by small and medium-sized enterprises (SMEs) in rural areas will receive a monthly support benefit of up to 1 million won for two years, combining incentives and savings contributions.On August 28, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol chaired a meeting of the Emergency Economic Headquarters and the Economic Relations Ministers' Meeting, where the 'Youth Employment Recovery Plan' was finalized.This initiative comes in response to the prolonged slump in youth employment. The employment rate for those aged 20 to 24 dropped from 46.0% in 2022 to 41.3% in the second quarter of this year. Similarly, the employment rate for those aged 25 to 29 fell from 72.5% in 2024 to 71.5% in the same period. Although the number of young people not engaged in work or job-seeking activities decreased to 378,000 in the second quarter of this year compared to the previous year, it remains at a high level.In response, the government will establish a comprehensive support system that connects pre-employment talent development, job placement, and post-employment career management. The goal is to train over 300,000 professionals in advanced industries and fields preferred by youth by 2030, while creating 100,000 private jobs, 100,000 public jobs, and 100,000 youth startups.◇ Next year, 50,000 direct jobs to be added; 80,000 advanced talent to be trainedNext year, the government plans to train approximately 80,000 more individuals than this year. This includes 20,000 for advanced industry vocational training in fields such as AI and semiconductors, 12,000 for specialized university and graduate school advanced personnel, and 7,000 for practical personnel in vocational high schools and polytechnic institutes.The K-New Deal Academy, which utilizes facilities and specialized personnel from large corporations, will expand from 10,000 to 50,000 participants. Additionally, the number of university-centered boot camp participants will increase from 13,000 this year to 25,000 next year.A new 'First Job Support Program' will be established to assist young people without work experience in utilizing the National Employment Support System. The job-seeking allowance will be raised from 600,000 won to 650,000 won per month.The Youth Challenge Growth Support Project, which provides allowances and tailored programs for young people who have given up on job searching, will expand from 58,000 to 67,000 participants. An additional 6,000 vulnerable youth, including those who are isolated or caring for family members, will receive separate support.A new 'Youth Playground' will be established to connect trained youth with actual job opportunities. This initiative will offer corporate projects, challenges, entrepreneurship, and mentoring from current professionals, matching youth with companies through regional technoparks and creative economy innovation centers.The basic participation period will be six months, with the option to extend for an additional six months if necessary. Three to five signature centers will be remodeled to serve as hubs for the Youth Playground.Next year, the government plans to increase private and public jobs by approximately 50,000 compared to this year. New jobs will be created in emerging industries, small and medium-sized enterprises, science and technology, and sectors such as culture, land, agriculture, and finance in the private sector, while the public sector will provide jobs related to delinquency management, AI, education, and welfare.The government estimates that this plan will generate employment effects for over 90,000 individuals, including those resulting from expanded training. However, the direct increase in jobs next year is expected to be around 50,000. Among the additional 80,000 trained individuals, an estimated 40,000 employment effects are anticipated to materialize with a 52% employment rate over a 1-2 year lag.◇ Youth job incentive up to 18 million won; savings matched by government at 25%The Youth Job Leap Incentive will expand support for both companies and young individuals. Companies that hire young people who have completed competency programs will receive financial support, including those in metropolitan area SMEs and large companies outside the capital.The youth support program will extend its reach from primarily non-metropolitan areas to include some young individuals employed in the metropolitan area. The maximum support amount for young people in non-metropolitan areas will increase from 7.2 million won to 18 million won over two years, averaging about 750,000 won per month.A preferential track for the Youth Future Savings program for employees in local SMEs will also be established. The government’s matching contribution rate will increase from 12% to 25%, providing a support effect of up to 200,000 won per month.The Youth Culture and Arts Pass will expand its eligibility from ages 19-20 to ages 19-34, providing support annually instead of once in a lifetime. The support amount will vary, with 100,000 won for metropolitan areas and 150,000 won for non-metropolitan areas.The government anticipates that combining the job leap incentive, youth future savings, and culture and arts pass will result in a support effect of around 1 million won per month for young individuals employed by local SMEs over two years.Career management after employment will also be strengthened. The Job Competency Bank will be revamped into a 'Career Bank' to link 19 types of information, including national technical qualifications and training history, and will add 10 types of information such as military service, certified private qualifications, and freelance work experience. However, registration in the Career Bank will not automatically be recognized as formal experience by companies, and each company will determine its recognition during the hiring process.The period for income tax reduction for young employees in local SMEs will be differentiated, with five years for the metropolitan area, six years for large cities, seven years for other regions, and ten years for specially designated areas. The government also plans to introduce a 'Happy Workplace Certification System' next year to certify companies with excellent employment and working conditions and provide tax benefits.* This article has been translated by AI. 2026-08-28 16:32:00
  • Norwegian King Harald V Dies at 89 After 35 Years on the Throne
    Norwegian King Harald V Dies at 89 After 35 Years on the Throne Norwegian King Harald V has passed away at the age of 89. The monarch, who reigned for 35 years and was beloved for his humble and unifying approach, has passed the throne to his son, Crown Prince Haakon.The Norwegian Royal Palace announced on August 28 that King Harald V died peacefully at 6:35 a.m. at Oslo University Hospital. The royal flag atop the palace was lowered to half-mast in mourning.King Harald had been hospitalized since August 17 due to a bacterial infection in his blood. According to Yonhap News, his condition deteriorated rapidly over the weekend, and the royal family reported on August 27 that he was in extremely critical condition.The BBC reported that King Harald had been receiving treatment for a rare blood disorder known as hemolytic anemia and had significantly reduced his official engagements since April 2024 due to declining health. During his hospitalization, Crown Prince Haakon took on the king's official duties as regent.King Harald ascended to the throne in 1991, succeeding his father, King Olav V, and ruled Norway for 35 years. As the oldest monarch in Europe, he held no political power but served a symbolic role in uniting the nation during times of crisis.Notably, in 2011, following the far-right extremist Anders Behring Breivik's bomb and gun attacks in Oslo and on Utøya Island that killed 77 people, King Harald urged the public to support one another and not succumb to fear. The BBC noted that his speech is remembered as a significant moment demonstrating the role of the monarchy in Norway.King Harald also modernized royal traditions. His marriage in 1968 to Sonja Haraldsen, a commoner, lowered the barriers of the royal family, allowing his children to marry commoners as well.In 2016, he gained attention for a speech advocating for the acceptance of diversity in religion, ethnicity, and sexual orientation. Historians and royal experts have noted that King Harald made the Norwegian royal family more transparent regarding financial and health issues, transforming it into a more egalitarian and open institution.However, the Norwegian royal family has faced challenges recently due to controversies surrounding family members and health issues. According to the BBC, Crown Princess Mette-Marit faced scrutiny for her association with convicted sex offender Jeffrey Epstein, while his son, Marius Borg Høiby, was sentenced to four years in prison for sexual assault and is appealing the verdict.Despite these challenges, public sentiment towards King Harald remained largely positive. Local experts cited by the BBC noted that while criticism of the royal family has increased, King Harald himself faced little backlash, with the prevailing sentiment being that 'everyone loved King Harald.'Crown Prince Haakon has now ascended as the new king. King Harald is survived by his wife, Queen Sonja, whom he was married to for nearly 58 years, their daughter Princess Märtha Louise, their son King Haakon, and six grandchildren.* This article has been translated by AI. 2026-08-28 16:28:00
  • Lees approval rating keeps plunging
    Lee's approval rating keeps plunging SEOUL, August 28 (AJP) - President Lee Jae Myung's approval rating slid further, according to a survey released on Friday. Pollster Gallup Korea surveyed about 1,000 adults nationwide earlier this week and found that 42 percent said Lee was doing a good job, down 3 percentage points from the previous week. The figure was the lowest since Lee took office in June last year, continuing a downward trend in recent weeks. It was also below the previous low of 44 percent seen in the second week of August, when his disapproval rating surpassed his approval rating for the first time. About 50 percent of respondents disapproved of Lee's performance, also the first time disapproval has reached half of those surveyed in Gallup Korea's weekly polls since he took office. Some 8 percent remained undecided or refused to give an answer. Among those who approved of Lee's performance, foreign policy was the most cited reason at 16 percent. Among those who disapproved, real estate-related policy topped the list at 27 percent. The decline in Lee's approval rating came a bit later than that of his predecessor Yoon Suk Yeol, but was somewhat faster than those of other former presidents who entered their lame-duck periods about two years or so into their terms. Yoon's disapproval rating surpassed his approval rating for the first time in July 2022, just two months after taking office and even before his honeymoon period ended, in a phenomenon known as a "dead cross." Other predecessors saw the same reversal, but much later. It took Moon Jae-in about two years and four months and Park Geun-hye one year and five months. Neither recovered their approval ratings afterward. Meanwhile, support for the ruling Democratic Party (DP) fell 2 percentage points from the previous week to 39 percent, dropping below 40 percent for the first time in about 10 months. Support for the main opposition People Power Party (PPP) remained unchanged at 25 percent. Among the minor parties, the liberal Rebuilding Korea Party garnered 4 percent, followed by the centrist Reform Party at 3 percent and the left-wing Progressive Party at 1 percent. A whopping 26 percent of respondents said they did not support any party. AJP Takeaways • President Lee Jae Myung's approval rating fell to 42 percent, down 3 percentage points from the previous week and the lowest level since he took office in June 2025, according to a Gallup Korea poll released Aug. 28, 2026. • Lee Jae Myung's disapproval rating reached 50 percent for the first time in Gallup Korea's weekly polls since his inauguration, with real estate policy cited as the top reason for negative assessments at 27 percent. • Democratic Party support fell to 39 percent, dropping below 40 percent for the first time in about 10 months, while People Power Party support remained unchanged at 25 percent. 2026-08-28 16:24:02
  • NextTrades ETF Trading Plans Delayed Amid Market Uncertainty
    NextTrade's ETF Trading Plans Delayed Amid Market Uncertainty NextTrade's plans to expand its exchange-traded fund (ETF) trading are facing setbacks. Contrary to its previous schedule to begin ETF trading in November, the company is now expected to struggle with its application for full approval in September. The Korea Exchange is pushing to exclude ETFs from trading in the aftermarket, complicating the trading timeline.As of August 28, financial industry sources indicate that NextTrade has not yet applied for full approval for ETF trading. The industry anticipates that the application will be difficult to submit in September. Given that the approval process typically takes more than two months, the prospect of starting ETF trading in November now seems unlikely.The uncertainty surrounding the start date for NextTrade's ETF trading has raised questions about how far trading hours can be extended. Initially, NextTrade considered opening all trading sessions—pre-market, main, and aftermarket—but is now reviewing the option of starting with regular market trading and expanding based on market conditions.Earlier this year, NextTrade planned to apply for full approval after system testing following the Korea Exchange's extension of trading hours on September 14, aiming to commence ETF trading in November. Methodological discussions regarding ETF trading had largely been concluded, and technical development was nearly complete.However, recent controversies surrounding single-stock leveraged products and increased market volatility have rapidly changed the situation. Asset management firms and securities companies have expressed concerns about market operations and price management amid volatility, leading to an agreement earlier this month to refrain from participating in the Korea Exchange's aftermarket ETF trading.Financial authorities are also prioritizing market stability. Reports suggest that authorities and the exchange are considering amendments to the implementation rules for the aftermarket, which would exclude ETFs and exchange-traded notes (ETNs) from tradable products.As a result, NextTrade's timeline for launching ETF trading, initially set for November, is now under review. Although the exchange's rule amendments do not directly involve NextTrade, the challenges faced by market participants remain significant.In the current situation where the Korea Exchange's aftermarket ETF trading is blocked, if NextTrade were to proceed with its ETF trading first, it could face the burden of directly coordinating liquidity provider issues with securities firms.A NextTrade representative stated, "While we can technically proceed regardless of the exchange's decision on aftermarket ETF trading, the positions of market participants, such as asset management firms, are more important. We believe there is no need to push aggressively to persuade the market. We are carefully considering various aspects of the market situation."* This article has been translated by AI. 2026-08-28 16:20:10
  • Chinese Stock Market Adjusts After Four Days of Gains Amid U.S. Sanctions
    Chinese Stock Market Adjusts After Four Days of Gains Amid U.S. Sanctions The Chinese stock market showed signs of adjustment on August 28, following four consecutive days of gains. Analysts attribute the decline to profit-taking activities. The Shanghai Composite Index closed down 0.11% at 3,952.18, the Shenzhen Component Index fell 0.68% to 13,953.07, and the ChiNext Index dropped 1.41% to 3,424.40.This week, the Chinese stock market had seen three days of continuous increases. Over the past month, the Shanghai Composite Index has risen by 3.4%. Factors contributing to this month’s bullish trend include expectations of stimulus policies, improved liquidity, and optimism surrounding technology stocks. However, some analysts in the Chinese securities market caution that the recovery in risk appetite due to macro and micro liquidity improvements may be nearing its end.Despite the slight decline, some analysts suggest that the overall market trend has not reversed but rather that the pace of increases is slowing as the market undergoes adjustments.In a report, Guangda Securities noted, "The balance of stock-backed loans is decreasing, and market trading turnover is declining, indicating a cooling off. Additionally, external risks have emerged, shaking global asset markets." They added that the indices are fluctuating within a range, with sectors such as electronics, telecommunications, and defense expected to perform well.On this day, shares related to power grid equipment experienced weakness for the second consecutive day. Stocks like Suyuan Electric and Mingyang Electric saw significant declines. On August 26, U.S. President Donald Trump signed an executive order declaring a national emergency, stating that foreign equipment used in power systems could pose security threats. This has led to expectations of sanctions against Chinese power grid equipment, contributing to the sector's downturn.In contrast, the grain sector showed strength, with companies like Dunhuang Zhongye and Xin Sai Gu Fen hitting their daily price limits. Chicago wheat futures have been on the rise, reaching their highest levels in three years. HSBC analyzed that factors such as conflicts in the Middle East, extreme heat in the Northern Hemisphere, and the El Niño phenomenon are negatively impacting grain cultivation, leading to supply shortages across agricultural supply chains.Meanwhile, the People's Bank of China set the yuan's central parity rate against the dollar at 6.7811 yuan, a decrease of 0.0029 yuan from the previous day, reflecting a 0.04% increase in the value of the yuan.* This article has been translated by AI. 2026-08-28 16:20:00
  • NextTrades ETF Trading Plans Delayed Amid Market Uncertainty
    NextTrade's ETF Trading Plans Delayed Amid Market Uncertainty NextTrade's plans to expand its exchange-traded fund (ETF) trading are facing setbacks. Contrary to its previous schedule to begin ETF trading in November, the company is now expected to struggle with its application for full approval in September. The Korea Exchange is pushing to exclude ETFs from trading in the aftermarket, complicating the trading timeline.As of August 28, financial industry sources indicate that NextTrade has not yet applied for full approval for ETF trading. Industry experts predict that the application will likely not be submitted in September. Given that the approval process typically takes over two months, the prospect of starting ETF trading in November now seems unlikely.The uncertainty surrounding the start date for NextTrade's ETF trading has raised questions about how long trading hours can be extended. Initially, NextTrade planned to open all trading sessions—pre-market, main, and aftermarket—but is now considering starting with regular market hours and expanding based on market conditions.Earlier this year, NextTrade aimed to apply for full approval after system testing following the Korea Exchange's extension of trading hours on September 14, with plans to commence ETF trading in November. Methodological discussions related to ETF trading had largely been concluded, and technical development was nearly complete.However, recent controversies surrounding single-stock leveraged products and increased market volatility have rapidly changed the situation. Asset management firms and securities companies have expressed concerns about market operations and price management amid volatility, leading to an agreement earlier this month to refrain from participating in the Korea Exchange's aftermarket ETF trading.Financial authorities are also prioritizing market stability. Reports suggest that authorities and the exchange are considering amendments to the implementation rules for the introduction of the aftermarket, which would exclude ETFs and exchange-traded notes (ETNs) from the list of tradable products.As a result, NextTrade's timeline for launching ETF trading, initially set for November, is now under review. Although the exchange's rule amendments do not directly involve NextTrade, the challenges faced by market participants remain significant.In the current situation where the Korea Exchange has blocked aftermarket ETF trading, if NextTrade were to proceed with its ETF trading first, it could face the burden of directly coordinating liquidity provider (LP) issues with securities firms.A NextTrade representative stated, "While we can technically proceed regardless of the exchange's stance on aftermarket ETF trading, the positions of asset management firms and other market participants are more important. We believe there is no need to push aggressively to persuade the market. We are carefully considering various aspects of the market situation."* This article has been translated by AI. 2026-08-28 16:20:00
  • Bankruptcy Sidesteps Restructuring Law: How Will Gwangyang Health University Protect Students and Staff?
    Bankruptcy Sidesteps Restructuring Law: How Will Gwangyang Health University Protect Students and Staff? The 'Private University Restructuring Support Act' and its enforcement decree, aimed at facilitating proactive management normalization and orderly exits for struggling universities, were fully implemented on August 15. However, Gwangyang Health University, which is set to close on August 31, is confirmed not to be subject to this law. Due to financial difficulties culminating in a court bankruptcy ruling, the university's fate will be determined through bankruptcy proceedings rather than the various provisions offered by the restructuring law.The Ministry of Education reviewed and approved the enforcement decree of the 'Private University Restructuring Support Act' during a cabinet meeting on August 4, with implementation starting on the 15th for a ten-year period. This decree provides legal grounds and detailed procedures for financial diagnostics, designation and removal of universities in management crises, and restructuring orders.Notably, the law establishes a 'voluntary exit' pathway for struggling universities. If a university in crisis decides to dissolve, it can receive a portion of its remaining assets as a dissolution settlement or contribute them to public or social welfare organizations.Additionally, staff members laid off due to closure will be prioritized for unpaid wages and severance payments within the limits of remaining assets, while students will receive special transfer support and compensation for interrupted studies, creating a comprehensive protection mechanism for stakeholders.However, the law draws a strict line against private university corruption. Executives or individuals who fail to comply with rectification demands due to embezzlement, misappropriation, or accounting fraud will be thoroughly excluded from receiving dissolution settlement funds.Gwangyang Health University Faces Court Bankruptcy Ruling, Not Eligible for Restructuring LawDespite the benefits and procedures of the Private University Restructuring Support Act, Gwangyang Health University, which is closing on August 31 due to various financial issues and corruption, is not eligible for these provisions. A representative from the Korea Scholarship Foundation stated, "Gwangyang Health University is not subject to the restructuring law because it was declared bankrupt by the court before the law's implementation date."The representative explained, "The bankruptcy trustee appointed by the court will take over the authority to proceed with the closure and asset liquidation. The Ministry of Education has decided on the closure due to bankruptcy, and measures to protect stakeholders, such as special transfer support, are currently underway."Thus, Gwangyang Health University is following a bankruptcy process enforced by external authorities rather than seeking a 'restructuring' exit on its own, placing it outside the scope of the new law.Struggling Universities Still Holding On: No Self-Directed Exits YetAlthough the Private University Restructuring Support Act has been officially implemented, no universities have yet taken steps toward voluntary closure or restructuring. A representative from the Korea Scholarship Foundation noted regarding the 20 universities recently identified for financial support restrictions for the 2027 academic year, "None of these institutions have reached out or expressed a desire to pursue an exit strategy voluntarily."The representative added, "Universities are trying to escape the management crisis by any means possible," noting that some institutions are attempting to change their structure through their own assets or other resources.The Ministry of Education indicated that the list of universities facing financial support restrictions released this year is a result of existing policy measures (such as restrictions on national scholarships and student loans). Starting next year, the newly established Private University Restructuring Review Committee will apply measures based on financial diagnostics, marking the beginning of serious restructuring law actions.While the law has established a systematic foundation for private university restructuring, how struggling universities will accept and utilize it is expected to become clearer once the financial diagnostics results are released next year. 2026-08-28 16:16:10
  • SK Group Donates 2 Billion Won for Flood Recovery Efforts
    SK Group Donates 2 Billion Won for Flood Recovery Efforts SK Group has pledged 2 billion won to support residents in southern regions, including Geoje and Tongyeong, who have suffered significant damage from recent heavy rains.On August 28, SK Group announced that it would donate the funds through the Community Chest of Korea to aid in recovery efforts and provide relief for disaster victims. The donation will be used to restore affected areas and help victims return to their daily lives.In addition, its affiliates have also initiated relief activities. SK Hynix provided 630 volunteer kits to areas impacted by the flooding, including Geoje, on August 26. The High Safety program, which SK Hynix has implemented annually, aims to support disaster relief efforts.SK Telecom has been supplying communication facilities, such as smartphone charging stations and power banks, to temporary housing set up at Okpo Elementary School and Okpo Community Center since August 18. They are also providing relief supplies, including towels and wet wipes.Furthermore, SK Broadband has installed Wi-Fi and IPTV services at Okpo Elementary School since August 18 to ensure that residents in temporary housing can access communication services without inconvenience.An SK Group official stated, "As many citizens are facing difficulties due to the sudden heavy rains, we will support the residents in affected areas to return to their daily lives as soon as possible. SK Group plans to actively engage in various recovery support activities in addition to the monetary donation."* This article has been translated by AI. 2026-08-28 16:16:00