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  • Muan Designates 3.47 Million Square Meters for Distributed Energy National Industrial Complex
    Muan Designates 3.47 Million Square Meters for Distributed Energy National Industrial Complex Muan County has designated an area of approximately 3.47 million square meters for the planned 'Muan Distributed Energy Specialized National Industrial Complex' as a land transaction approval zone to prevent speculative real estate transactions and ensure systematic land management. According to Muan County, 3,171 parcels covering 347,1351 square meters in Dong-san-ri and Oe-ban-ri of Hyun-gyeong-myeon and Mok-dong-ri and Pi-seo-ri of Mang-wun-myeon have been designated as a land transaction approval zone under Article 10 of the Real Estate Transaction Reporting Act. The designation will be effective from August 30, 2026, until August 29, 2031. The designated areas include 1.84 square kilometers in Dong-san-ri and Oe-ban-ri of Hyun-gyeong-myeon and 1.63 square kilometers in Mok-dong-ri and Pi-seo-ri of Mang-wun-myeon, totaling 3.47 square kilometers. This measure is seen as a way to systematically manage land transactions in the area surrounding the planned Muan Distributed Energy Specialized National Industrial Complex and to prevent speculative transactions and rapid increases in land prices driven by development expectations. Once designated as a land transaction approval zone, any transaction involving land exceeding a certain size requires approval from the relevant administrative authority before the buyer and seller can finalize the contract. For urban areas, the approval threshold is set at over 60 square meters for areas without designated residential or use zones, and over 200 square meters for green spaces. In areas outside urban zones, land transactions exceeding 500 square meters for agricultural land, 1,000 square meters for forest land, and 250 square meters for other types of land will require approval. Upon receiving a land transaction approval application, Muan County will review the details and decide on the approval within 15 days. Approved land must be used for the designated purpose for a period of 2 to 5 years. Parties wishing to transact land within the approval zone must submit a permit application along with a financing plan and other relevant documents to Muan County after reaching a prior agreement. Once approved, they can proceed with drafting the contract. If an application for approval is denied, the applicant can file an objection within one month from the date of notification, which will then undergo a review process by the urban planning review committee before a final decision is communicated. Muan County has announced the designation of the land transaction approval zone and is making related land records and topographical maps available for public viewing. The viewing period runs from August 26 to September 18, and residents can check the relevant materials at the Muan County Office's Civil Affairs and Land Division, as well as at all local town and township offices and the Namak and Oryong branch offices. Lee Seung-myung, head of the Civil Affairs and Land Division, stated, “This measure aims to prevent speculative land transactions that exploit expectations surrounding the establishment of the national industrial complex and to establish a healthy real estate transaction order centered on genuine demand. We urge residents wishing to transact land within the approval zone to verify the approval requirements and related procedures before finalizing contracts.”* This article has been translated by AI. 2026-08-27 09:36:10
  • Yongin City Announces Approval for National Route 57 Improvement Project
    Yongin City Announces Approval for National Route 57 Improvement Project Yongin City, led by Mayor Lee Sang-il, announced that the improvement project for National Route 57 (from Mapyeong to Wonsam) has passed the preliminary feasibility study conducted by the Ministry of Economy and Finance on August 27.On August 26, the 6th Financial Project Evaluation Committee reviewed and approved the feasibility study, allowing the project to be included in the '6th National and Local Road Construction 5-Year Plan.' The Ministry of Land, Infrastructure and Transport is expected to finalize and announce the '6th National and Local Road Construction Plan' after October.The National Route 57 improvement project aims to enhance the road alignment and traffic facilities over approximately 12.3 kilometers, from the Yongin Arts and Science College intersection in Cheoin-gu to the Yongin Semiconductor Cluster industrial complex in Wonsam-myeon. The total project cost is estimated at 221.9 billion won.This project includes the construction of a tunnel at Gobdeung Pass along Route 57. The city plans to improve the road alignment by creating a new tunnel in the steep and narrow 2.88 km section.Additionally, pedestrian safety measures will be implemented, including the installation of sidewalks and the creation of left-turn lanes for vehicles entering nearby villages.Mayor Lee stated, "National Route 57 is a crucial transportation infrastructure connecting the city center with the Yongin Semiconductor Cluster in Wonsam, home to SK Hynix. The new Gobdeung Pass tunnel will improve a hazardous road section and enhance connectivity with National Route 45, significantly increasing convenience for citizens through the installation of sidewalks and left-turn lanes."During the Financial Project Evaluation Committee meeting, the 'National Route 23 (Anseong Daedeok to Yongin Namsa) Expansion Project' also passed its preliminary feasibility study. This project aims to expand a 1.7 km section from the Jinmok Intersection in Namsa-eup, which has remained a two-lane road, to a four-lane road, addressing the bottleneck issue.The road leading to Wonsam-myeon is being expanded to enhance access to the SK Yongin Semiconductor Cluster, with a 1.88 km section of Bogeawon-Samro having opened in May.* This article has been translated by AI. 2026-08-27 09:36:10
  • High School Student Seeks Help for Fathers Work Clothes Odor
    High School Student Seeks Help for Father's Work Clothes Odor A high school student is gaining attention online for sharing his concerns about the smell of his father's work clothes and shoes, which have become saturated with sweat from summer construction work.Recently, a post by a student identified as A was shared on a thread, stating, "My father, who has recently stopped his business to work at a construction site, has laundry that doesn't seem to lose its smell. I'm worried about it." A continued, "With the summer heat, my clothes, socks, and shoes have a strong odor, and even with extra detergent, it doesn't seem to help. I want to know the laundry tips from those who work in the field to help my dad, even if he doesn't say it, I know he feels bad about it."The heartfelt concern from the young student quickly drew a flood of comments online.One commenter, who introduced himself as a "shoe odor expert," advised, "You need to eliminate the bacteria inside the shoes. Spraying on safety shoes works well too," and offered to provide product support, asking the student to check his direct messages.Another user, who has a husband working in the field, shared, "I completely understand the struggle with summer laundry smells. I've tried sodium percarbonate, but I ultimately settled on sodium bicarbonate. Try washing with three to four tablespoons of sodium bicarbonate and a fabric disinfectant in 60-degree water."In a particularly touching comment, a representative from a safety equipment wholesale company offered to send a pair of brand-name safety shoes, saying, "Let me know your father's shoe size. It won't be a burden since it's at cost. Don't hesitate to accept the help, and when you grow up and have the means, you can give back to others."More than 20 other netizens also offered to provide detergent, socks, and financial support.A expressed gratitude, stating, "There are so many people willing to help, but I can't accept everything. I just want to accept their kind intentions." A's father also reportedly declined additional items or support, saying, "Just be thankful for their kindness and make sure to express your gratitude."After starting a part-time job during the summer break, A shared a follow-up post thanking adults once again.A said, "Working part-time during the break made my legs sore and tired, but I realized my father must have been doing much harder work every day. I felt so proud when I bought meat with my earnings and grilled it with my dad."A added, "I now understand how grateful I should be for the adults who worried about me and offered help, even though they don't know me personally."The story has since spread across various online communities, capturing the attention of netizens.Comments included, "He really grew up well," "Everyone's hearts are beautiful," "The father raised a good son," and "I realized that earning money to help others isn't easy. I hope he studies hard and becomes a doctor. Good luck!"* This article has been translated by AI. 2026-08-27 09:36:00
  • Korean Won Rises Slightly Against US Dollar Amid Strong US Inflation Data
    Korean Won Rises Slightly Against US Dollar Amid Strong US Inflation Data The won-dollar exchange rate is trading in the 1,380 won range as US inflation and domestic demand remain robust.As of 9:11 a.m. in the Seoul foreign exchange market, the exchange rate for the Korean won against the US dollar is 1,385.1 won. At 6 a.m. that day, the rate was recorded at 1,386.3 won, up 1.5 won from the previous day's closing price.The recent US inflation data, which slightly exceeded market expectations, is believed to have contributed to the dollar's strength. The Personal Consumption Expenditures (PCE) price index for July rose 3.7% compared to the same month last year, slightly above the market forecast of 3.6%.The dollar index, which measures the value of the dollar against six major currencies, rose 0.267% to 99.147.The New York stock market closed slightly lower. The Dow Jones Industrial Average finished down 113.52 points (0.21%) at 53,463.88.The Standard & Poor's (S&P) 500 index fell 1.58 points (0.02%) to close at 7,675.70, while the Nasdaq Composite Index dropped 21.10 points (0.08%) to finish at 26,130.20.International oil prices declined. October futures for Brent crude fell 0.84% to $87.84 per barrel, while West Texas Intermediate (WTI) crude dropped 0.16% to $82.23 per barrel.In the domestic stock market, foreign investors are showing net buying activity. Early in the session, foreign investors purchased 208.8 billion won in the securities market.The exchange rate is expected to rise slightly. Min Kyung-won, an economist at Woori Bank, stated, "With the US PCE inflation exceeding expectations and domestic demand remaining strong, US Treasury yields are rising, leading to a strengthening of the dollar. This is likely to exert downward pressure on the won, contributing to weakness in major Asian currencies such as the yen and yuan."* This article has been translated by AI. 2026-08-27 09:32:00
  • South Korea Deploys 11-Member Rapid Response Team to Nepal Floods
    South Korea Deploys 11-Member Rapid Response Team to Nepal Floods The South Korean government is sending an 11-member joint rapid response team to Nepal, where a major flood has affected many, including South Koreans.According to authorities on August 27, the team will consist of four members from the Foreign Ministry, five firefighters, and two police officers.President Yoon Suk Yeol issued an urgent directive on August 26, stating, "Mobilize all available resources to search for and rescue the missing. The lives and safety of our citizens must be the top priority." He also emphasized the importance of closely cooperating with the Nepalese government and local authorities, providing support to the families of the missing, ensuring the safety of South Koreans currently in the area, and taking all necessary measures to prevent further damage.Im Sang-woo, a representative from the Foreign Ministry responsible for the protection of overseas citizens and consular affairs, will lead the team, which will assist in the search and rescue of South Koreans on the ground.The team is scheduled to depart from Incheon International Airport on a commercial flight this afternoon, with a stopover in Hong Kong before arriving in Kathmandu, Nepal.On August 26, floods occurred in the central northern Himalayan region of Nepal, resulting in at least 160 fatalities and leaving 403 people missing, including 341 foreigners.Nine South Koreans have lost contact, while another ten are reported to be isolated but safe. These individuals are affiliated with Korea Southeast Power and Doosan Enerbility, which are involved in local hydropower projects.* This article has been translated by AI. 2026-08-27 09:32:00
  • Nvidia admits memory squeeze, flags upside for Korean chipmakers
    Nvidia admits memory squeeze, flags upside for Korean chipmakers SEOUL, August 27 (AJP) - Nvidia on Wednesday admitted that even the AI chip giant cannot escape the cost squeeze from the boom it helped ignite, as soaring memory prices lift production costs while benefiting Samsung Electronics and SK hynix from the supply crunch. The company reported second-quarter revenue of $96.2 billion for its fiscal 2027, more than doubling from a year earlier, as data center revenue jumped 117 percent to $89 billion. Nvidia forecast revenue of $108 billion, plus or minus 2 percent, for the current quarter, while giving a preliminary forecast for revenue to grow about 70 percent in fiscal 2028. Still, the rapid expansion of AI infrastructure is increasingly putting pressure on the memory supply chain. "We are experiencing extreme pricing conditions in memory," Nvidia Chief Financial Officer Colette Kress said during an earnings call Wednesday. "The magnitude of the price increase has exceeded our prior expectations and are headed even higher into next year," she said. The higher component costs are weighing on Nvidia's margins. The company expects its non-GAAP gross margin to fall from 75 percent in the second quarter to about 74 percent in the third quarter before bottoming at between 71 percent and 72 percent in the fourth quarter. Nvidia expects margins to recover to between 72 percent and 73 percent in fiscal 2028 as product price increases take effect. The comments offer a bullish signal for South Korea's Samsung Electronics and SK hynix, two of the world's largest memory chipmakers, as red-hot demand for high-bandwidth memory and other advanced memory products is expected to extend well through next year. Gartner recently forecast global memory revenue at $837.3 billion this year, nearly four times last year's $220.1 billion, before climbing above $1 trillion to $1.08 trillion in 2027. Memory's share of worldwide semiconductor revenue is projected to rise to 54 percent this year from 27 percent in 2025. In Seoul, shares of Samsung Electronics opened 2 percent and SK hynix 3.5 percent higher Thursday. Nvidia said the memory shortage itself is largely a consequence of accelerating AI infrastructure investment. "Memory scarcity today is being driven in large part by the AI buildout itself," Kress said, adding that Nvidia has "long-standing deep relationships with all three major memory suppliers" and is working with them to secure additional capacity required for its product roadmap. Nvidia did not identify the suppliers by name during the call. The world's three major DRAM suppliers are South Korea's SK hynix and Samsung Electronics and U.S.-based Micron Technology. Chief Executive Jensen Huang also stressed that supply, rather than demand, is becoming a key constraint on Nvidia's growth. Huang said demand for the company's computing systems is running well above the roughly 70 percent revenue growth Nvidia currently expects to deliver in fiscal 2028. "Our demand is much higher than that," Huang said, adding that Nvidia would need help from its "entire supply chain" to increase capacity. Nvidia expects supply to remain a bottleneck at least through the end of fiscal 2028. The company also highlighted its expanding ties with South Korean companies during the earnings call. Nvidia said Samsung Electronics is using its cuLitho computational lithography platform to achieve up to 20 times higher performance in computational lithography, a technology used to optimize complex semiconductor manufacturing processes. The company also cited LG and Hyundai Motor Group as partners working with Nvidia to build and scale AI infrastructure in South Korea. The strong outlook comes as Nvidia's next-generation Vera Rubin platform enters full production. Huang said AI has reached an inflection point where it is increasingly performing productive work and generating economic returns, fueling further demand for computing infrastructure. As AI agents and more sophisticated reasoning models require increasingly large amounts of computing power, Nvidia expects the global race to build AI infrastructure to continue. The company said supply constraints extend across its broader supply chain, including semiconductor manufacturing, memory, data center power and infrastructure, even as additional capacity comes online. AJP Takeaways Nvidia says extreme memory prices are squeezing margins, exposing a cost downside to the AI boom it helped create. Samsung Electronics and SK hynix stand to benefit as scarce HBM and DRAM supplies strengthen memory pricing power. Nvidia says demand is running ahead of supply, with bottlenecks expected to persist through fiscal 2028. 2026-08-27 09:30:36
  • Tim Cook Reveals Partner at Farewell Event Ahead of CEO Transition
    Tim Cook Reveals Partner at Farewell Event Ahead of CEO Transition Tim Cook, the CEO of Apple, is set to hand over the CEO position to John Ternus, the current Vice President of Engineering, on September 1. Ahead of his departure, Cook made headlines by mentioning his personal life during a farewell event.On August 24, IT news outlet The Information reported that Apple held a farewell event for Cook at its headquarters, Apple Park, in Cupertino, California, attended by over 200 employees.The event took place in the company cafeteria, Café Max, and the outdoor central space, featuring a performance by the American band OneRepublic to celebrate Cook's departure. Notable attendees included Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, former Chief Operating Officer Jeff Williams, Services and Health chief Eddy Cue, and incoming CEO John Ternus, who all delivered tributes.During his farewell speech, Cook revealed that his partner was present at the event, referring to him as “Mike.” This marks the first time Cook has publicly acknowledged his partner since coming out as gay in 2014, after keeping his personal life private for nearly 12 years.An Apple representative stated that it is unusual for Cook, who typically does not share details about his private life, to mention his personal affairs.Following the management transition, Cook is expected to continue supporting the company in specific areas, including serving as chair of the board and collaborating with policymakers.* This article has been translated by AI. 2026-08-27 09:28:00
  • Hana Bank Increases Support for Small Businesses in Incheon with Additional Funding
    Hana Bank Increases Support for Small Businesses in Incheon with Additional Funding Hana Bank is expanding its financial support for small and medium-sized enterprises with low credit ratings in the Incheon area.On August 27, Hana Bank announced an additional special contribution of 500 million won to the Incheon Credit Guarantee Foundation.This contribution follows Hana Bank's earlier donation of 1.5 billion won in March as part of its 'All Growth Financial Support' initiative. The support, which initially focused on youth entrepreneurship, job creation, and revitalizing commercial districts, will now also include small businesses with low to medium credit ratings.As a result, Hana Bank's total contribution to the Incheon Credit Guarantee Foundation this year will increase from 5.5 billion won to 6 billion won. The scale of guarantee supply through the foundation in the Incheon area will also expand from 84 billion won to 91.5 billion won.Since August 24, Hana Bank has been operating the 'Incheon Sharing Account' in collaboration with the Incheon Credit Guarantee Foundation. This product provides a total of 10 billion won in emergency operating funds to small businesses in Incheon, offering up to 10 million won per business in a negative balance account format.Seo Yoo-seok, head of Hana Bank's corporate group, stated, "As Hana Financial Group prepares to relocate to Cheongna in Incheon, we will continue to provide tailored financial support for local small businesses. We aim to expand inclusive finance to contribute meaningfully to the growth of the Incheon economy."* This article has been translated by AI. 2026-08-27 09:28:00
  • Real Estate Market Thrives Amid Major Development Projects in Ulsan and Busan
    Real Estate Market Thrives Amid Major Development Projects in Ulsan and Busan The real estate markets in regions with significant development projects and corporate investments are experiencing rising transactions and record prices.According to Real Today, Ulsan is seeing increased optimism as SK Group and Amazon Web Services plan to invest approximately 7 trillion won to build the country’s largest AI-exclusive data center, with a capacity of 103 megawatts.Data from the Ministry of Land, Infrastructure and Transport's real transaction disclosure system shows that an 84-square-meter unit at 'Munsuro I-Park 2nd Complex' in Ulsan's Nam-gu sold for 1.165 billion won in April. This marks a 265 million won increase from the 900 million won it sold for last year.In Busan, the second phase of the North Port redevelopment project, with a total cost of 4.4 trillion won, is drawing attention. An 84-square-meter unit at 'The Beach Prugio Summit' in Daeyeon-dong, Nam-gu, sold for 1.585 billion won in July, setting a new record. This is an increase of 255 million won compared to the 1.33 billion won it sold for during the same period last year.Meanwhile, Doosan Construction is currently selling units at 'Doosan We’ve the Zenith Daeyeon' in Daeyeon-dong, Busan. The complex will consist of two buildings with a total of 258 units, ranging from 59 to 84 square meters, with 176 units available for general sale.As the regional real estate market becomes increasingly polarized, areas with major development projects and job creation prospects are showing stronger price resilience and demand absorption.* This article has been translated by AI. 2026-08-27 09:24:20
  • Daewoo Engineering & Construction Chairman Meets with Vietnamese Minister
    Daewoo Engineering & Construction Chairman Meets with Vietnamese Minister Daewoo Engineering & Construction Chairman Jung Won-joo met with Vietnamese Minister of Industry and Trade Le Minh Khai during the minister's visit to South Korea, expressing the company's interest in participating in energy projects, including nuclear power and LNG terminals.On August 26, Jung discussed cooperation on Vietnam's nuclear power and energy infrastructure projects with Minister Le during their meeting in Seoul. The Vietnamese delegation, including officials from the Ministry of Industry and Trade and the Vietnam Oil and Gas Group, visited South Korea from August 26 to 28 to attend the Korea-Vietnam Industrial Joint Committee and hold meetings with relevant ministries. Daewoo was the only domestic construction company to meet with the delegation.Jung stated, “Daewoo Engineering & Construction has been involved in various projects in Vietnam for over 30 years, growing alongside the local economy. We aim to contribute significantly to the expansion of Vietnam's nuclear power and energy infrastructure through localization.”He also noted, “Daewoo is participating as the main contractor in the Czech Dukovany nuclear power project. If we engage in Vietnam's nuclear power projects, we will not only handle construction but also share our nuclear construction technology and experience, supporting the enhancement of local companies' technical and quality capabilities.”Daewoo plans to establish a foundation for localization in the nuclear sector through local workforce training, technological cooperation, and the development of local supply chains.Meanwhile, as construction companies expand their overseas projects from simple construction to energy infrastructure sectors like nuclear power and LNG, Vietnam is emerging as a strategic hub for Daewoo in Southeast Asia.* This article has been translated by AI. 2026-08-27 09:24:00