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Japanese Government Offers Tax Incentives for Companies Selling Unprofitable Businesses The Japanese government is moving to provide significant tax incentives for companies that divest unprofitable businesses and invest in high-growth areas. The aim is to reduce the tax burden associated with business sales, thereby encouraging corporate restructuring and investment in new growth sectors. According to a report by Yonhap News on August 25, the Yomiuri Shimbun and other outlets have confirmed that the Ministry of Economy, Trade and Industry has finalized plans to introduce a new "Business Structure Transition and Enhancement Promotion Tax System" in the upcoming tax reform for the next fiscal year. Currently, companies in Japan face a corporate tax rate of approximately 30% on profits generated from business sales. The government is considering deferring taxes on profits from these sales, allowing companies to acquire and invest in new businesses without the immediate tax burden. The initiative comes as many companies with unprofitable operations hesitate to divest due to concerns over tax liabilities, which has delayed industrial restructuring and the development of growth sectors. According to the Ministry of Economy, Trade and Industry, the net profits of listed companies in Japan have more than doubled from 2013 to 2024. However, during the same period, the proportion of capital investment and research and development (R&D) spending has seen little change, as shareholder returns have taken precedence. Under the new system, companies will be able to defer tax payments on profits from the sale of existing businesses, using those funds to acquire new ventures. If they retain the acquired business, they will not face immediate taxation; however, if they sell it again, they will be required to pay the deferred taxes retroactively. There will be no specific restrictions on the size or industry of eligible companies. However, to qualify for the tax incentives, companies will need to commit to a certain level of actual investment in the acquired business. The Yomiuri Shimbun predicts that if this system effectively promotes corporate transitions and investments in new growth areas, it could also have positive implications for economic security. By encouraging companies to restructure and invest in core technologies domestically, it may help prevent the outflow of key technologies abroad. * This article has been translated by AI. 2026-08-25 20:48:00 -
South Korea and Kuwait Expand Energy and Infrastructure Cooperation 한국과 쿠웨이트가 전략적 에너지 협력을 이어가는 한편 인프라와 도시개발, 인공지능(AI) 투자 등으로 협력 범위를 넓히기로 했다. 한국 정부는 구체적인 협력사업 발굴을 위해 조만간 민관 합동대표단을 쿠웨이트에 파견할 예정이다. 25일 연합뉴스의 보도에 따르면 조현 외교부 장관은 이날 서울에서 자라 자베르 알-아흐마드 알-사바 쿠웨이트 외교장관과 회담하고 양국 관계와 에너지·인프라 협력, AI 투자, 중동 정세 등에 대해 의견을 나눴다. 조 장관은 양국이 전략비축유 규모 확대 등 전략적 에너지 협력을 지속하는 동시에 쿠웨이트의 인프라와 도시개발 사업에 한국 기업들이 계속 참여할 수 있도록 관심과 지원을 요청했다. 양측은 인프라 분야에서 정부 간 협력 수요를 적극 발굴할 필요가 있다는 데 뜻을 같이했다. 조 장관은 구체적인 협력사업을 발굴하기 위해 조만간 민관 합동대표단을 쿠웨이트에 파견할 계획이라고 밝혔다. 자라 장관은 식량안보와 사이버안보를 비롯해 에너지·인프라, 정보기술(IT), 디지털 전환 등으로 양국 간 협력을 확대하기를 희망한다고 밝혔다. 또 쿠웨이트에서 사업을 진행하는 한국 기업들이 겪는 어려움에도 관심을 갖고 원활한 사업 수행을 위한 해결책을 찾겠다고 했다. 중동 정세에 대한 의견 교환도 이뤄졌다. 자라 장관은 한국이 지난 3월 쿠웨이트 등 중동 국가를 겨냥한 이란의 공격을 규탄하고 중단을 촉구하는 유엔 안전보장이사회 결의안의 공동제안국으로 참여한 것을 언급하며 한국 정부가 보여준 지지와 연대에 사의를 표했다. 이번 회담은 자라 장관의 방한을 계기로 이뤄졌다. 쿠웨이트 외교장관의 방한은 2007년 6월 이후 약 20년 만이다. 쿠웨이트는 한국의 주요 에너지·건설 협력국이다. 2025년 기준 한국 전체 원유 도입량의 8.4%를 차지하는 5위 원유 공급국이며, 한국의 제4위 해외 건설시장이다. * This article has been translated by AI. 2026-08-25 20:24:00
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Anyang City Council Committees Share Key Issues with Executives The Welfare and Environment Committee and the Planning and Administration Committee of Anyang City Council have strengthened communication and cooperation with the executive branch by sharing key issues ahead of the upcoming legislative session. According to the city council on the 25th, the two committees held meetings with relevant executive departments on the 24th and 25th to review the status of major projects and current issues, engaging in in-depth discussions about future directions and areas for improvement. First, the Welfare and Environment Committee listened to the main tasks and current issues from each department, examining key points of contention and future plans in the project implementation process. Notably, as the 10th Welfare and Environment Committee has been newly formed, the focus was on enhancing the members' understanding of the main tasks and issues of each department. Committee members raised questions centered on issues closely related to citizens' lives, the effectiveness of policies, and necessary improvements in the field, urging for the smooth advancement of major projects and proactive administration in the second half of the year. Additionally, it was agreed that the key issues and opinions discussed in the meetings would be faithfully reflected in future budget and settlement reviews and administrative audits. Chairperson Kim Bo-young stated, “This meeting was an opportunity for the committee and the executive branch to share current issues and explore future directions. We will continuously monitor to ensure that the discussed opinions are reflected in the second half of the year’s projects and next year’s budget, leading to tangible results that citizens can feel.” Planning and Administration Committee Prepares for Major Projects and Issues Meanwhile, the Planning and Administration Committee shared key projects and issues with the relevant executive departments ahead of the second half of the legislative activities, strengthening mutual understanding and cooperation. The meeting included Chairperson Jo Ji-young and committee members, along with senior officials from the Planning and Economic Office, direct departments, the Safety and Administrative Bureau, and the AI Strategy Bureau. On the first day, the committee heard about major issues from eight departments under the Planning and Economic Office, and on the second day, they reviewed issues from three direct departments, five departments from the Safety and Administrative Bureau, and four departments from the AI Strategy Bureau. The committee established a foundation for communication to facilitate future legislative activities and city administration, fostering a collaborative relationship for exchanging opinions closely with the executive branch when issues arise. Chairperson Jo Ji-young remarked, “It was meaningful to preview the major projects and issues being pursued by the executive branch and to share our opinions. I hope the matters discussed today will be thoroughly reviewed and reflected in future work processes.” Looking ahead, the Welfare and Environment and Planning and Administration Committees plan to continue monitoring key issues and reflecting citizens' voices in their legislative activities in collaboration with the executive branch.* This article has been translated by AI. 2026-08-25 20:20:20
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Anyang City Council Committees Share Key Issues with Executive Agencies The Welfare and Environment Committee and the Planning and Administration Committee of the Anyang City Council have engaged in discussions with executive agencies to share key issues and enhance communication and cooperation ahead of the upcoming legislative session. According to the city council on the 25th, the two committees held meetings with relevant executive agencies on the 24th and 25th to review the status of major projects and current issues, as well as to engage in in-depth discussions about future work directions and areas for improvement. Initially, the Welfare and Environment Committee listened to the key tasks and current issues from each department, examining major points of contention and future plans in the project implementation process. Notably, as the 10th term of the Welfare and Environment Committee has been newly formed, the focus was on enhancing the members' understanding of the key tasks and issues of each department. Committee members raised questions centered on issues closely related to citizens' lives, the effectiveness of policies, and necessary improvements in the field, urging for the smooth implementation of major projects and proactive administration in the second half of the year. Additionally, it was agreed that the key issues and opinions discussed in the meetings would be faithfully reflected in future budget and settlement reviews, as well as in administrative audits. Chairperson Kim Bo-young stated, “This meeting was an opportunity for the committee and executive agencies to share current issues and explore future directions. We will continuously monitor to ensure that the discussed opinions are reflected in the second half of the year’s projects and next year’s budget, leading to tangible results that citizens can feel.” Planning and Administration Committee Prepares for Major Projects and Issues Meanwhile, the Planning and Administration Committee also shared major projects and current issues with relevant executive agencies ahead of the second half of the legislative activities, strengthening mutual understanding and cooperation between the committee and the executive agencies. The meeting included Chairperson Jo Ji-young and committee members, along with officials from the Planning and Economic Office, direct departments, the Safety and Administrative Bureau, and the AI Strategy Bureau. On the first day, the committee heard about key issues from eight departments under the Planning and Economic Office, and on the second day, they reviewed issues from three direct departments, five departments from the Safety and Administrative Bureau, and four departments from the AI Strategy Bureau. The committee established a communication foundation to facilitate future legislative activities and city administration, fostering a collaborative relationship to exchange opinions closely with executive agencies when issues arise. Chairperson Jo Ji-young remarked, “It was meaningful to preview the major projects and current issues being pursued by the executive agencies and to share our opinions. I hope that the matters discussed today will be thoroughly reviewed and reflected in future work processes.” Furthermore, the Welfare and Environment and Planning and Administration Committees plan to continue monitoring key issues and reflecting citizens' voices in their legislative activities in the future.* This article has been translated by AI. 2026-08-25 20:20:10
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Heat Wave Continues Despite End of Summer Season; Rain Expected in Seoul and Gangwon On Wednesday, temperatures are expected to reach a high of 36 degrees Celsius, continuing the heat wave despite the end of the summer season. The Korea Meteorological Administration forecasts that daytime temperatures will remain above 30 degrees for the foreseeable future.According to the weather agency, the morning low on August 26 is predicted to be between 22 and 26 degrees Celsius, with daytime highs ranging from 27 to 36 degrees.The central region will experience mostly cloudy skies, with rain expected in the Seoul metropolitan area and inland and mountainous regions of Gangwon. Precipitation is forecasted to be between 5 and 20 millimeters in areas excluding southwestern Seoul, Incheon, and Gyeonggi Province, as well as the five islands in the Yellow Sea and the inland and mountainous areas of Gangwon.In contrast, southern regions and Jeju Island are expected to have mostly clear weather. Daytime highs are forecasted to reach 35 degrees in Gwangju, Daegu, Busan, Ulsan, and Changwon, 34 degrees in Jeonju, and 34 degrees in Jeju.In Seoul, temperatures are expected to range from 25 to 31 degrees, while Incheon will see 25 to 29 degrees, Suwon 24 to 30 degrees, Chuncheon 23 to 29 degrees, Gangneung 25 to 31 degrees, and Cheongju and Daejeon 24 to 33 degrees. Sejong is expected to see temperatures between 23 and 32 degrees.Wave heights in the East and South Seas are expected to be between 0.5 and 1.0 meters, while the West Sea will see waves around 0.5 meters. In the open sea, wave heights are forecasted to be 0.5 to 1.0 meters in the East Sea, 0.5 to 2.0 meters in the West Sea, and 0.5 to 2.5 meters in the South Sea.* This article has been translated by AI. 2026-08-25 19:56:00
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President Lee Emphasizes Unity with New Democratic Party Leadership President Lee Jae-myung met with the new leadership of the Democratic Party on August 25, urging close cooperation to improve livelihoods and achieve government results. During a dinner meeting at the Blue House, President Lee stated, "The president can be seen as a flower that our Democratic Party has created and nurtured." He emphasized, "I am a key member of the Democratic Party, and the government is also a government created by the Democratic Party." President Lee specifically urged that the party, government, and Blue House work together to fulfill the roles entrusted to them by the public. He identified the primary goal of governance as improving the practical lives of citizens, stating, "The essence of politics is not loud slogans or beautiful claims, but rather making a better life for the people a reality." He acknowledged the challenges in addressing livelihoods, saying, "While it is easy to talk about improving livelihoods, it is not so simple to actually take care of and enhance the lives of the people. The ability to achieve this unilaterally, whether by the party, the government, or the Blue House, is very limited." President Lee called for the Democratic Party, the government, and the Blue House to unite in fulfilling the roles entrusted to them by the public, expressing hope that citizens would clearly feel improvements in their lives and the future of South Korea. "I will also work hard alongside you," he added. He also called for unity within the party following the recent convention, stating, "While there are differences, no matter how large they may be, they are not as significant as the differences we must overcome with our opponents. If we focus on finding our differences, we will never end; if we seek common ground, we can draw closer together." He remarked, "Even twins born from the same womb are different. If we start to identify differences, we will head down a path of enmity, but if we find commonalities, we can become amicable brothers." President Lee concluded, "The party, government, and Blue House should be the same. I hope that members of the Democratic Party will strive to create a great South Korea entrusted to us by the people, transcending our small differences." The dinner was attended by Democratic Party representatives, including Kim Min-seok, the party leader, Han Byeong-do, the floor leader, and Choi Min-hee, the senior highest committee member, along with key party officials. From the Blue House, Chief of Staff Kang Hoon-sik, Senior Secretary Hong Ik-pyo, and Chief Spokesperson Kang Yu-jeong were also present.* This article has been translated by AI. 2026-08-25 19:52:00
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Current Jeju Police Officer Re-arrested for Falsifying Missing Person Case 실종 신고 사건을 허위로 종결하고 관련 자료까지 삭제한 혐의를 받는 제주 현직 경찰관이 다시 구속됐다. 제주지법은 25일 직무유기와 공전자기록 위작 및 행사, 위계공무집행방해 혐의를 받는 A 경장에 대한 구속 전 피의자 심문(영장실질심사)을 진행한 뒤 구속영장을 발부했다. 법원은 증거를 인멸하거나 도주할 우려가 있다고 판단했다. A 경장은 앞서 긴급체포된 뒤 체포적부심을 청구했다. 법원이 이를 받아들이면서 지난 24일 석방됐지만, 하루 만에 다시 구속됐다. A 경장은 지난 5월 실종 신고가 접수된 장미란(37)씨와 연락이 닿았다는 취지로 신고자에게 거짓말한 뒤 사건을 자체 종결한 혐의를 받고 있다. 실종 프로파일링 시스템의 관리 목록에서도 장씨 관련 자료를 삭제한 것으로 조사됐다. 지난달 2일 접수된 60대 남성 B씨의 실종 사건 역시 장씨 사건과 비슷한 방식으로 허위 종결한 혐의를 받고 있다. 경찰은 지난 22일 제주 모처에서 B씨의 시신을 발견했다. 이어 24일 오전에는 제주시 한림읍에서 장씨로 추정되는 시신을 수습했다. 경찰은 A 경장이 두 실종 사건을 허위로 처리한 경위와 범행 동기, 시신 발견과의 연관성 등을 추가로 조사할 방침이다.* This article has been translated by AI. 2026-08-25 19:20:20
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Zelensky Shares Trump’s Independence Day Message, Highlights U.S. Support Ukrainian President Volodymyr Zelensky expressed gratitude for U.S. support by sharing a message from President Donald Trump on Ukraine's Independence Day. The release of Trump's message comes as no senior U.S. officials attended the Independence Day celebrations, emphasizing the supportive relationship between the two nations.On August 25, Zelensky posted the full text of Trump's message on X (formerly Twitter), which congratulated Zelensky and the Ukrainian people on the 35th anniversary of Ukraine's independence. Trump noted that the two countries have built a friendship over 35 years of diplomatic relations. He praised the indomitable spirit and sacrifices of the Ukrainian people and expressed support for a future as a sovereign and prosperous nation.Trump also emphasized the need to build a strong and lasting peace to end the conflict and unlock Ukraine's tremendous potential for future generations.Zelensky described Trump's message as "warm and inspiring," thanking the former president and the American people for their support. He remarked, "These words boost our morale like the sound of a Patriot PAC-3 missile launch," highlighting the hope of protecting lives and achieving peace amid ongoing Russian attacks. This statement is seen as a subtle appeal for continued U.S. support for Patriot missile defense systems.The release of the message followed reports that no senior U.S. officials attended the Independence Day events. According to Yonhap News, citing NBC, neither Trump nor any high-ranking U.S. officials were present at the celebrations held in the capital, Kyiv. In contrast, British Prime Minister Andy Burnham and European Union Council President António Costa attended the 'Union of Will' summit in person, while French President Emmanuel Macron and German Chancellor Friedrich Merz participated via video link.Attendance from the U.S. was limited to congressional figures, former officials, and ex-envoys. U.S. Secretary of State Marco Rubio stated that efforts are ongoing to support negotiations for a resolution to the war between Russia and Ukraine and to achieve a lasting peace.On the same day, Zelensky expressed gratitude to various world leaders who attended the Independence Day events or sent messages.As Russia continues its missile attacks, Ukraine faces significant damage due to a shortage of air defense interceptors. Additionally, political rivals within the country are increasingly calling for elections, making ongoing international support for Zelensky even more crucial.* This article has been translated by AI. 2026-08-25 19:12:00
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Mokpo to Issue 6.5 Billion Won in Local Love Gift Certificates in September The city of Mokpo in South Jeolla Province will significantly increase the issuance of its Mokpo Love Gift Certificates to 6.5 billion won in September, five times the usual amount, ahead of the Chuseok holiday. According to the city on August 25, the monthly issuance will rise from the previous 1.3 billion won. The individual purchase limit will also increase from 300,000 won to 500,000 won. For card-type certificates, the purchase limit will double from 200,000 won to 400,000 won. The limits for paper and mobile types will remain at a combined total of 100,000 won per month. The benefits for citizens will also expand from the previous 10% to a maximum of 15%. This will be implemented as a 10% immediate discount at the time of purchase, along with an additional 5% cashback on the actual amount spent. This measure utilizes the additional discount support for local love gift certificates from the integrated special city of Gwangju and Jeonnam. For example, if a citizen purchases 500,000 won worth of gift certificates in September and uses the full amount, they could receive up to 75,000 won in total benefits from the purchase discount and cashback. However, the 5% additional cashback applies only to card and mobile gift certificates. Paper certificates are excluded from this cashback offer, and the 5% cashback may end early if the related budget is exhausted. Mokpo anticipates an increase in demand for gift certificates ahead of Chuseok, prompting the significant expansion of the monthly issuance. The goal is to boost local consumption, particularly benefiting traditional markets and small businesses in the area. Given that the previous monthly issuance of 1.3 billion won was insufficient to meet demand, the city decided to greatly increase the supply for September. Mokpo expects that this initiative will help alleviate some financial burdens for citizens ahead of the holiday while also promoting local spending at affiliated businesses. Additionally, Mokpo plans to continue expanding the issuance of the Mokpo Love Gift Certificates after Chuseok to support local consumption and small businesses.* This article has been translated by AI. 2026-08-25 19:04:00
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Kangjin Beer Festival to Open on 27th, Aiming for Economic Boost Beyond 70,000 Attendees The Kangjin County in South Jeolla Province is focusing on extending the economic impact of the 4th Kangjin Beer Festival, which opens on the 27th, beyond the festival grounds. Building on last year's success, which attracted over 75,000 visitors, this year's strategy aims to encourage spending in local restaurants, cafes, lodging, and taxis, thereby enhancing the festival's tangible economic benefits. According to Kangjin County, the festival will take place from the 27th to the 29th at the Kangjin Sports Complex. This year, adjustments have been made to opening hours, transportation, and vendor operations based on an analysis of last year's performance and consumer data. Last year's festival drew a total of 75,019 visitors, with the 26 vendors at the festival generating sales of 139.22 million won over the three days. Indicators of increased spending outside the festival grounds have also emerged. During the festival period from August 28 to 30 last year, sales in the public delivery app 'Meokgaebi' in the Kangjin area totaled 72.48 million won, marking a 73.5% increase compared to 41.77 million won in the three days prior to the festival. Sales dropped to 51.19 million won in the three days following the event. Water usage in 125 general and snack restaurants in Kangjin also increased by an average of 5.17% during the festival compared to the average period. Snack restaurants, including cafes, saw an 8.65% rise, with a notable 22.75% increase on the final day. However, it is difficult to definitively attribute the increase in delivery app sales and water usage directly to the festival's impact on local business revenue. Kangjin County is using this data as supplementary indicators to assess changes in food and beverage consumption and visitor flow during the festival. A previous survey conducted by a specialized agency during the second festival indicated that 85.6% of visitors were from outside the area. Among the 433 surveyed visitors, 207, or 47.8%, stayed or lodged in Kangjin. Kangjin County plans to broaden the focus of this year's festival beyond just visitor numbers to include local stay and spending. The festival's opening time will be pushed back from 4 PM to 5 PM to reduce outdoor activities during peak heat and allow visitors to utilize local restaurants and cafes before heading to the festival. The closing time will remain at 9 PM. Transportation will also connect to local businesses. For the first time, shuttle taxis will operate between Kangjin Station and the festival site, and taxi stands will be relocated from outside the festival grounds to inside the entrance of the Kangjin Sports Complex. The shuttle bus service, which began last year, will continue to operate through the CNS 2nd Apartment commercial area, allowing festival-goers to easily access local restaurants and bars after performances. The number of vendors at the festival has been reduced from 26 last year to 18 this year. All 10 food vendors are local businesses in Kangjin. This decision aims to minimize revenue dilution from an increased number of vendors and to consider menu overlap and visitor demand. A free camping area will not be operated this year. Last year, 60 teams were accommodated over three days, but this year the focus is on directing the demand for external tourists' stays to local lodging facilities. Sales booths for agricultural products have also been excluded. Last year's sales of agricultural products during the festival totaled only 1.18 million won over three days, and feedback from participating vendors indicated that the festival's focus on nighttime performances and food and drink consumption limited the effectiveness of such sales. After the festival, Kangjin County will conduct an evaluation by a specialized agency to analyze visitor stay and lodging status, changes in local business consumption, and vendor sales. Kang Jin-won, the county mayor, stated, “The success of the Beer Festival cannot be judged solely by sales and visitor numbers at the festival site. We will comprehensively consider heat response, transportation convenience, movement to local businesses, and lodging connections to ensure the festival operates effectively and to closely monitor its impact on revitalizing the local economy.” The 4th Kangjin Beer Festival will be held from the 27th to the 29th at the Kangjin Sports Complex, operating daily from 5 PM to 9 PM, featuring beer, performances, food, and experiential programs.* This article has been translated by AI. 2026-08-25 19:00:00