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Ruling Party Adopts Resolution for Success of Lee Government The Democratic Party reaffirmed its commitment to swiftly present key legislative tasks, including three major mega projects, to the National Assembly to ensure the success of the Lee Jae-myung government during a two-day workshop that concluded on August 28.At the workshop held at the Inspire Hotel in Incheon, the party signaled its intention to accelerate legislative efforts in support of the Lee administration.Kim Min-seok, the party leader, stated before reading the resolution, "It is time for all members of the National Assembly to work together, not just the leadership. We must act for the livelihoods of the party, government, and the people." He pledged to assign optimal tasks to each member of the National Assembly.Kim emphasized that the outcomes of the workshop represent a turning point toward a golden era, asserting that all lawmakers must commit to prioritizing the livelihoods of the people and express their gratitude to the public.The resolution stated, "The 100 days of the 2026 regular session of the National Assembly is a golden time for the great leap of South Korea, launched by the will of the great people who safeguarded democracy." It called for the party, government, and Blue House to respond to the public's expectations as a united team.Furthermore, the resolution highlighted the need for the party, government, and Blue House to work together more effectively to meet public expectations, declaring, "All Democratic lawmakers commit to prioritizing the lives of the people to ensure an irreplaceable South Korea with a brighter future."The Democratic Party pledged to swiftly process livelihood-related legislation and budget proposals, aiming for significant reforms in judicial and electoral management systems.Additionally, the party emphasized its commitment to supporting the Lee administration's three major national projects, leading a 'great transformation' for growth driven by local initiatives and collective progress for South Korea.To lay the groundwork for becoming a global leader, the party vowed to realize 'great investments' for the future, focusing on youth, semiconductors, and strategic growth industries, utilizing all available means to advance South Korea.Reiterating the importance of teamwork among the party, government, and Blue House, the party promised to exert full effort on key legislative tasks to fulfill its commitment to a 'great leap for South Korea.'* This article has been translated by AI. 2026-08-28 09:52:00 -
U.S., South Korea, and Japan to Conduct 'Freedom Edge' Multidomain Exercise Next Month South Korea, the United States, and Japan will conduct a multidomain joint exercise called 'Freedom Edge' next month. According to the Joint Chiefs of Staff on August 28, the military authorities of the three countries are coordinating the detailed schedule and participating forces for this year's Freedom Edge exercise. Freedom Edge is a regular training exercise involving the three nations that integrates operations across maritime, aerial, underwater, and cyber domains. Its purpose is to enhance interoperability among the three forces and strengthen deterrence and response capabilities against North Korea's nuclear and missile threats. This exercise comes shortly after the U.S. significantly scaled back its joint exercise 'Ulchi Freedom Shield' (UFS) with South Korea while pursuing dialogue with North Korea. The training is expected to include operations in ballistic missile defense, air defense, anti-submarine warfare, maritime interdiction, and cyber defense. Specific training areas and participating ships and aircraft will be finalized through consultations among the three countries. According to Japan's Kyodo News, citing the U.S. Forces Japan, Freedom Edge is scheduled to take place from September 7 to 11 this year. The U.S. Indo-Pacific Command has also stated that it is closely coordinating with the South Korean military and the Japan Self-Defense Forces for the exercise. Freedom Edge began after the leaders of South Korea, the U.S., and Japan agreed to regularize multidomain training during a meeting at Camp David in August 2023. The first exercise was conducted in June 2024 in the waters south of Jeju, followed by a second exercise in November of the same year. The third exercise took place over five days in September last year in the southeastern waters off Jeju, where the three nations conducted training in ballistic missile defense, air defense, anti-submarine warfare, maritime interdiction, maritime replenishment, and cyber defense. Last month, the chiefs of staff of South Korea, the U.S., and Japan reaffirmed their commitment to continue conducting joint exercises, including Freedom Edge, during a meeting in Washington, D.C. This year's exercise will be the fourth since its initial implementation in 2024.* This article has been translated by AI. 2026-08-28 09:52:00
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Cherry Buro Shares Rise 8% on First Day of Trading After Stock Consolidation Cherry Buro is experiencing an 8% increase on the first day of trading following a stock consolidation that led to a trading halt.As of 9:33 a.m. on the 28th, Cherry Buro shares were trading at 1,460 won, up 120 won (8.96%) from the previous trading day, according to the Korea Exchange.The company had suspended trading from August 6 to 27 for the stock consolidation process, which resumed today.On May 21, Cherry Buro's board of directors decided to increase the par value per share from 500 won to 1,000 won. As a result, the total number of issued shares was reduced from 47,952,015 to 23,976,007.Stock consolidation involves merging multiple shares into a smaller number of shares, which does not affect the company's capital or overall value.Cherry Buro stated that the purpose of the consolidation is to maintain an appropriate number of circulating shares to stabilize the stock price and enhance corporate value.The effective date of the stock consolidation was August 8, and the listing of the newly consolidated shares occurred on that day. The company plans to compensate for any fractional shares resulting from the consolidation based on the closing price on the first day of the new shares' listing.The company emphasized, "This is a stock consolidation that maintains corporate value and does not constitute a capital reduction."* This article has been translated by AI. 2026-08-28 09:44:00
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South Korea to Implement Guidelines for Yellow Envelope Law Instead of Decree On August 28, the Blue House announced that the scope of union dispute actions under the Yellow Envelope Law (Labor Union and Labor Relations Adjustment Act) will be outlined in implementation guidelines rather than a formal decree. This decision was made to expedite the legislative process while still achieving similar effects as a decree.In a media announcement, the Blue House stated, "While the impact on the field is similar, we aim to establish guidelines that can be applied immediately, as opposed to a decree that takes over three months for legislative notice and regulatory review. We will monitor changes in the field after the guidelines are applied and consider other options if necessary."President Lee Jae-myung directed Minister of Employment and Labor Kim Young-hoon during a Cabinet meeting on July 21 to create guidelines or notices equivalent to presidential decrees or implementation rules. This directive came in response to claims by the Samsung Electronics union that the establishment of a semiconductor cluster in the Honam region was included in the scope of disputes.* This article has been translated by AI. 2026-08-28 09:40:00
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Dev Sisters' 'Cookie Run: Crumble' Surpasses $15 Million in First Month Sales Dev Sisters' new title, 'Cookie Run: Crumble,' has surpassed 20 billion won in sales. This achievement comes just one month after its launch on July 30, raising expectations for long-term success.On August 28, Dev Sisters announced that 'Cookie Run: Crumble' has recorded sales of 20 billion won, with the user count exceeding 2.5 million.The company is optimistic about the game's initial performance, including sales and user numbers, as well as its potential for sustained popularity.According to Dev Sisters, a significant portion of 'Cookie Run: Crumble' users have not previously played any titles from the Cookie Run intellectual property (IP). The company believes that not only existing fans of the Cookie Run IP are engaged, but also enthusiasts of the 'idle genre' have been drawn in. Currently, the game holds a satisfaction rating of 4.7 out of 5 on the Apple App Store.Following an update on August 27, the game's revenue ranking has shown an upward trend. The update introduced new cookies, including the TSSR-rated 'Brightseeker Cookie,' and expanded the main stage along with guild raid battles.'Cookie Run: Crumble' is an idle RPG based on the Cookie Run IP. It features a structure that is easy for anyone to enjoy, with rapid growth, abundant rewards, and a lighthearted, cheerful world.Dev Sisters is diversifying the Cookie Run IP genre with the release of 'Cookie Run: Crumble,' following the real-time battle action game 'Cookie Run: OvenSmash,' thereby broadening user engagement.A representative from Dev Sisters stated, 'We will continue to provide new content through regular updates to enhance user satisfaction.'* This article has been translated by AI. 2026-08-28 09:40:00
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Mirae BM Ranks First in National Mechanical Equipment Performance Evaluation Mirae BM, a specialized energy consulting firm, announced on August 28 that it has secured the top position in the '2026 Mechanical Equipment Performance Inspection Capability Evaluation' conducted by the Ministry of Land, Infrastructure and Transport.The evaluation assesses the performance of inspection companies nationwide based on their inspection results, technical capabilities, management status, and credibility, as mandated by the Mechanical Equipment Act aimed at preventing major accidents and promoting energy savings.Mirae BM demonstrated its industry-leading capabilities by ranking first among 534 companies evaluated. It also achieved the top spot among 118 companies at the provincial level, solidifying its status as a leading firm in the sector.Providing facility and energy management services for buildings, Mirae BM has focused on enhancing expertise to ensure strict quality control and prevent industrial accidents. The acquisition of advanced diagnostic equipment and ongoing technological innovation have been identified as key factors in this evaluation's success.Jung Jeong-woon, CEO of Mirae BM, stated, 'Achieving the top national ranking is a result of the technical skills of our field professionals and our rigorous quality management. We will continue to strengthen our role as a leading company in ensuring building safety and promoting energy savings.'Meanwhile, Mirae BM, a family business of Samgu I&C, specializes in providing facility and energy management services. The company has concentrated on enhancing expertise for strict quality control and industrial accident prevention, while continuously pursuing technological innovation.* This article has been translated by AI. 2026-08-28 09:36:23
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China Lures South Korean Tech Workers with Promises, Then Disappoints As reports emerge about individuals who transferred key domestic technologies to China, reactions have surfaced questioning whether they were ultimately exploited. Despite promises of high salaries, housing and education support, and guarantees of equity and management rights, many have faced termination or demands for further technology leaks shortly after their arrival.On the 27th, various online communities shared a post titled 'Words of Technology Leak Offenders.'The post details the conditions and realities faced by those involved in technology leaks in the display, shipbuilding, and semiconductor sectors. According to the post, the offers from Chinese companies were quite enticing, including high salaries, international school tuition for children, housing support, provision of apartments and cars, and guarantees of equity and management rights. Although they were promised stable long-term living conditions, many encountered a starkly different reality after moving to China.In case A, related to a display technology leak, the Chinese side promised a three-year employment guarantee in exchange for the technology, with the possibility of an additional two years. They also offered support for children's international schooling and housing. However, contrary to these promises, the individual was terminated after just one and a half years, leaving with only a few months' worth of wages and no long-term employment security.Case B involves a shipbuilding technology leak. The Chinese side proposed a '3+2' employment model with a salary double that of the previous job, along with promises of an apartment and a car. However, after relocating, the individual faced pressure to secure additional Korean technology and was effectively monitored during work processes with the aid of an interpreter. Ultimately, they were dismissed from the Chinese company after about a year.In case C, related to core semiconductor technology, the Chinese side offered equity and management rights if certain goals were met, along with support for children's education and high-end housing. However, after moving, the individual was pressured for further technology leaks beyond the initial agreement. Following the initiation of a technology leak investigation in Korea, the individual was terminated, and their family struggled to adapt to life in China, eventually relocating to a third country.A common theme in these cases is the strategy of luring key personnel with attractive offers, only to swiftly terminate employment once the goal of securing technology is achieved or circumstances change.Critics point out that for those involved in technology leaks, losing the professional credibility and social trust built in Korea, along with the uncertainty of long-term employment and living conditions in China, poses significant risks.As these cases come to light, online reactions have highlighted the disparity between the benefits gained from technology leaks and the harsh realities that follow. Users have commented, 'In the end, were they just used and discarded?' and 'Even if they offer a lot of money, selling national technology is risky.' Others noted, 'They believed the promises of good treatment in China, but once they were no longer needed, they were discarded immediately.'Some users remarked, 'They thought they could live comfortably in China after leaking technology, but the reality is different,' and 'They only take you when they need Korean technology, and once they secure it, they let you go.' There were also comments about the additional demands for technology leaks, stating, 'Once you start leaking technology, they keep asking for more,' and 'It seems the technology itself was the main goal, rather than the initial promises.'Conversely, some users emphasized the responsibility of those involved, stating, 'They should never have leaked technology in the first place,' and 'They are paying the price for handing over core national technology for money.' They argued that if they had not made illegal choices from the beginning, these situations would not have arisen. 2026-08-28 09:36:00
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Ministry of Science and ICT Announces 'Everyone's AI' Consortium with SKT, KT, and Kakao The Ministry of Science and ICT has selected SK Telecom (SKT), Kakao, and KT to participate in the 'Everyone's AI' project consortium, it announced on August 28.The evaluation process included a review of technical suitability based on criteria such as the competitiveness of AI models and services, as well as plans for GPU utilization and infrastructure operation. The assessment also considered service convenience, user acquisition strategies, service quality, stability plans, and contributions to the ecosystem.The selected companies will receive a total of 512 GPU B200 units this year, with additional funding from the government budget starting next year.The companies plan to leverage their respective strengths to provide a universal AI chatbot service.The SKT consortium aims to develop an operational AI service that handles everything from planning to execution and results. The service will be accessible via apps, websites, phone calls, and text messages, ensuring usability for vulnerable populations.The Kakao consortium plans to integrate universal chatbots and AI agents, using its messaging platform as the entry point. It will launch a light version of a universal phone AI service in collaboration with LG Uplus this year and gradually expand its offerings. The strategy includes supporting promising AI companies in creating, testing, and distributing specialized agents.The KT consortium intends to develop public and specialized services that allow users to explore, compare, and evaluate information within a single conversation flow. It plans to place AI entry points across various partner channels, seamlessly connecting search demand to the AI chatbot.The Ministry of Science and ICT plans to sign agreements with the three companies in September and officially launch the Everyone's AI service by the end of the year.Meanwhile, Deputy Prime Minister and Minister of Science and ICT Lee Kwang-hoon emphasized at the second meeting on science and technology and AI future strategies held at the President Hotel in Seoul on August 27, "Everyone's AI must succeed," stating that it will serve as a pivotal point for developing and launching AI services in South Korea.* This article has been translated by AI. 2026-08-28 09:36:00
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South Korea to dispatch multipurpose aircraft for rescue efforts in flood-hit Nepal SEOUL, August 28 (AJP) - South Korea will dispatch a KC-330 Cygnus multipurpose aerial refueling aircraft to Nepal to support search and rescue operations following devastating floods and landslides that have left hundreds of people missing including nine South Korean workers. The Ministry of National Defense said in a statement late Thursday that it was discussing details with the Ministry of Foreign Affairs for deploying the KC-330 to transport rescue personnel, relief equipment and supplies to Nepal. The KC-330, operated by the Air Force and converted from an Airbus A330-200 passenger jet, can carry more than 300 people and up to 47 tons of cargo on a single flight. Primarily used for aerial refueling, it has also been deployed on missions to evacuate South Korean nationals from overseas crises and provide relief following major disasters. In March this year, the KC-330 was deployed to evacuate more than 200 South Koreans stranded in the Middle East amid a regional conflict. In February 2023, the aircraft was also used to transport about 110 South Korean rescue workers and equipment to Türkiye following a devastating earthquake. Nine South Koreans working at a hydropower plant construction site in northern Nepal remain unaccounted for after the disaster struck the area earlier this week. The missing workers include six employees of Doosan Enerbility and three employees of Korea South-East Power (KOEN). Meanwhile, all 10 stranded Doosan Enerbility workers were evacuated to a safe area by a Nepalese military helicopter, except for its site manager, who chose to remain behind to ensure the safety of about 16 Nepalese workers under his supervision. The Upper Trishuli-1 hydropower plant, where they were working, also suffered extensive damage. The 216-megawatt plant was being built on the Trishuli River about 70 kilometers northwest of Kathmandu and was scheduled for completion by the end of this year, but parts of the plant and other facilities were reportedly swept away by the flooding. Wednesday's catastrophic disaster has affected people from around the world, with Nepalese authorities estimating that more than 350 people have died and about 900 remain missing including 517 foreign nationals from 33 countries. Among the missing are 73 people involved in hydropower projects along the Trishuli River. The affected area is also near routes used by pilgrims traveling to the Hindu holy site of Mount Kailash and by mountain climbers, with some feared to be among the casualties. Countries around the world are working to find and rescue their citizens in Nepal. India says at least 288 of its citizens are missing, while China has reported nearly 100 missing. Other countries including Australia, Britain, Malaysia, Ukraine and the U.S. are also working to locate and assist their nationals there. AJP Takeaways • South Korea will dispatch a KC-330 Cygnus multipurpose aerial refueling aircraft to Nepal to support search and rescue operations following devastating floods and landslides, with the aircraft expected to transport rescue personnel, relief equipment and supplies. • Nine South Korean workers remain unaccounted for in Nepal, including six employees of Doosan Enerbility and three employees of Korea South-East Power, after floods and landslides hit the Rasuwa area on Wednesday, Aug. 26, 2026. • Nepalese authorities estimate about 900 people are missing including 517 foreign nationals from 33 countries, while governments including India, China, Australia, Britain, Malaysia, Ukraine and the U.S. are conducting efforts to locate and assist their citizens. 2026-08-28 09:34:48 -
KOSPI Falls Nearly 1% Amid Foreign and Institutional Selling; Samsung Biologics Drops Over 6% The KOSPI and KOSDAQ are showing a downward trend in early trading. Amid simultaneous net selling by foreign and institutional investors, most of the top market capitalization stocks are experiencing weakness, causing the index to drop nearly 1%.According to the Korea Exchange, as of 9:24 a.m., the KOSPI is trading at 6,843.69, down 68.68 points (0.99%) from the previous trading day. The index opened at 6,846.54, down 65.83 points (0.95%), and at one point fell to 6,805.01.While individual investors are net buying stocks worth 108.6 billion won, foreign and institutional investors are net selling 80.7 billion won and 123.2 billion won, respectively.Most of the top market capitalization stocks are in decline. Samsung Electronics is down 1.79%, SK Hynix is down 1.33%, Samsung Electronics Preferred is down 2.26%, SK Square is down 1.78%, LG Energy Solution is down 1.48%, Samsung Biologics is down 6.59%, Samsung Life is down 1.63%, Samsung C&T is down 1.60%, and KB Financial is down 0.83%. In contrast, Samsung Electro-Mechanics is up 1.88%, and Hyundai Motor is up 0.38%.At the same time, the KOSDAQ is trading at 833.21, down 4.44 points (0.53%) from the previous trading day. The index opened at 835.23, down 2.42 points (0.29%). After a brief rebound to 840.85 shortly after opening, it quickly fell back, increasing its decline.Individual investors are net buying stocks worth 68.8 billion won, while foreign and institutional investors are net selling 57.8 billion won and 11 billion won, respectively.Most of the top market capitalization stocks on the KOSDAQ are also in decline. Alteogen is down 1.61%, EcoPro is down 2.28%, EcoPro BM is down 0.85%, Rainbow Robotics is down 2.65%, Juseong Engineering is down 0.34%, Wonik IPS is down 1.77%, IOTech is down 1.35%, and HLB is down 1.69%. Conversely, Rino Technology is up 0.75%, and Simtech is up 2.52%.* This article has been translated by AI. 2026-08-28 09:32:00