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LG's Koo Kwang-mo: AI is a Core Focus, Not an Option LG has reassessed its investment decision-making framework in line with the AI era. The company has identified AI factories, Physical AI, and semiconductor materials and substrates as key areas for competition, aiming to enhance its strategy and execution speed to make swift investment decisions based on market and technological changes.On September 16, LG Group Chairman Koo Kwang-mo and over 40 executives from major affiliates gathered for an executive meeting at LG Inhwa Center in Icheon, Gyeonggi Province. Executives from LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution, and LG Uplus discussed investment strategies for approximately eight hours.The meeting focused on reviewing existing investment outcomes and future strategies centered on AI factories, Physical AI, semiconductor materials and substrates, and AI transformation (AX). The rapid changes brought by AI in industrial structures, manufacturing, and research and development necessitate an upgrade in existing investment criteria.The executives agreed to first establish clear business objectives and portfolio strategies, then validate multiple scenarios based on market, competition, and technological changes to enhance the quality of investment decisions. They also reached a consensus on concentrating resources and capabilities in necessary areas to accelerate execution when investment opportunities arise.Last month, LG formed a strategic partnership with NVIDIA in the fields of robotics, AI factories, and mobility, planning to establish an AI factory based on the next-generation AI platform 'Vera Rubin' next year and expand it to 80MW in Chungnam by 2028, thus transitioning AI investments into actual production infrastructure.Amid market debates over the pace of AI investment, LG has decided to focus on creating value in real customer and industrial settings rather than just the technology itself. Recently, LG AI Research Institute unveiled AI technology capable of predicting factory conditions and conducting inspections, further extending AI from the research phase to industrial applications.This year, LG has also been specifying the themes of its executive meetings on a quarterly basis. In March, the focus was on AX to discuss execution speed, while June's meeting centered on 'Winning R&D' to assess research and development competitiveness. The September meeting prioritized investment strategy as a core agenda item.Koo Kwang-mo stated, "AI is no longer an area that can be addressed selectively; it is a core pillar that determines future competitiveness. I urge the executives to maintain a rapid pace and relentless execution to win in the future battleground of AI." 2026-09-17 10:04:00 -
Hana Bank Captures 42% Market Share in National Love Card Program Hana Bank has achieved a market share of over 40% in the National Love Card program, which it entered this year. The issuance of the card has rapidly increased the number of customers using salary transfers for active-duty soldiers, accelerating the bank's efforts to expand its customer base among military personnel.As of the end of August, Hana Bank reported a cumulative market share of approximately 42% in the third phase of the National Love Card program.Selected as the issuer for the third phase, Hana Bank began issuing cards and handling military service examination-related tasks this year. Despite being a new player in the market without prior experience, the bank has established its IT and operational systems from the outset, contributing to its market share growth.In addition to card issuance, the volume of salary transfers for active-duty soldiers has also increased significantly. According to Hana Bank, the amount of military salary transfers has surged 14-fold compared to the end of last year.In the banking sector, the National Love Card is seen as a key opportunity to secure young customers not only during their military service but also afterward. Accounts and cards opened during the military service examination process can be linked to salary transfers or financial transactions after discharge.Hana Bank is also targeting younger customers with card designs and benefits tailored for military personnel. The design card featuring Ahn Yoo-jin from the idol group IVE has surpassed 158,000 issuances as of the end of August.The bank is concurrently conducting financial education and welfare programs for military personnel. It operates a dedicated financial education team, 'Money Special Forces,' which visits military units to provide financial education and conducts financial planning workshops for junior officers.Additionally, Hana Bank has supported the remodeling of physical training facilities for the 2nd Marine Division, donated approximately 5,000 books to the Army's 7th Corps, and renovated the 'Hana Hall' for the Marine Corps on Yeonpyeong Island. The bank also provides support for prosthetic limbs and medical assistive devices for soldiers who have died in the line of duty or have been injured.* This article has been translated by AI. 2026-09-17 10:00:00
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Experts Call for Innovation Beyond Integration of Public Enterprises Why do public enterprises exist? As a researcher, I have pondered this question while studying public enterprises and participating in various policy-making processes for a long time. The government establishes public enterprises in response to economic and social needs, sometimes opting for privatization or organizational restructuring. The aim of these changes is to answer the question, 'How can we most appropriately provide public services that the citizens need?' Many scholars are researching ways to enhance the efficiency of public service delivery so that more citizens can universally benefit.The form of public enterprises has evolved in various ways according to the economic and social demands of the times. As a researcher who has long explored public enterprise policy and governance and served as a management evaluation committee member, I recently had the opportunity to witness a significant and practical integration of public enterprises. The merger of Korea Railroad Corporation and SR Corporation has been completed smoothly, meeting public expectations.As the private chair of the high-speed rail integration labor-management-government consultation body, I recall the many meetings I chaired, coordinating the diverse voices of stakeholders. While I have participated in public policy decision-making processes in the past, I have never felt such pressure or maintained such a high level of tension until the very last moment as I did during this integration effort.Integrating two organizations with different histories and cultures cannot be accomplished merely through legal amendments or institutional arrangements. The process of delicately adjusting complex interests, differing organizational cultures, and the anxieties felt by members is far more challenging. In fact, the consultation process was not smooth, and anticipated concerns sometimes manifested as conflicts.During the discussions, many issues clashed, from the method of integration to the organizational structure and working conditions post-merger. The positions of the government, Korea Railroad Corporation, SR Corporation, and the labor unions of both companies varied. However, the key was not to unilaterally enforce one side's claims. It was essential to collaboratively seek alternatives under the goal of 'enhancing public benefit and ensuring safety.'Particularly, discussions regarding the organizational structure after the merger were very challenging. Organizational restructuring may seem as simple as drawing an organizational chart, but underlying it are complex feelings of belonging, wage systems, and anxieties about future careers among individual members. The more sensitive the issues, the more important it is to listen to the voices of those involved, and compromise and concession are essential. At the same time, we could not overlook the time of the citizens who longed for integration. Ignoring the inconveniences experienced by the public would be a dereliction of public responsibility.The government gathered opinions from stakeholders, including labor unions, and incorporated them into the consultation agenda. The labor unions of both companies narrowed down the issues through a four-party consultation. As a result, they developed a win-win plan to establish a support organization to help SR members adapt for a certain period after the merger. It is significant that not all proposals were adopted as they were, but rather that a solution acceptable to all was created through dialogue. This was evaluated as a groundbreaking example of conflict resolution and provided an opportunity for me, as a researcher, to gain academic assets regarding decision-making.The success of this integration offers several insights.First, the success of innovation depends on the 'design of the process.' The labor-management-government consultation body established a structure that subdivided issues into public benefit, practical integration, legal procedures, and risk management, which were then reviewed by subcommittees before being re-discussed. This approach proved effective by separating issues and maximizing expertise rather than making blanket decisions on complex issues.Second, 'speed' and 'deliberation' are not opposing values. Impatience can amplify conflicts, and waiting solely for consensus can lead to missed opportunities. It is essential to maintain an appropriate pace considering public expectations and the integration timeline. I pay my respects to the stakeholders who made agreements and decisions during this process.Third, the true completion of integration does not end with legal and institutional procedures or the completion of an organizational chart. It is necessary to verify whether members are well-adjusted to the organization after the merger and whether the public feels the changes. I proposed that an external professional organization conduct objective performance evaluations.In this context, it was decided to continue operating the labor-management-government consultation body even after the merger. This is a significant milestone in public sector decision-making. We will continuously monitor improvements in public benefits, such as expanded seat supply and reservation convenience, as well as the functioning of the railway safety management system. The true success of the integration will accumulate through this persistent monitoring process.When both members and the public evaluate that 'the integrated railway has become much safer and more convenient,' the high-speed rail integration will be fully realized. 2026-09-17 10:00:00
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Daewoo Engineering Partners with Global Firms for Mokdong 8 Complex Reconstruction As the competition heats up for the reconstruction of the Mokdong New Town in Seoul, Daewoo Engineering has begun collaborating with global design and engineering firms to secure the Mokdong 8 Complex project. The company plans to present a differentiated design proposal by involving specialized firms in various fields, from structural safety to landscaping and exterior design.On September 17, Daewoo Engineering announced its collaboration with the UK-based global engineering firm Arup, the New York-based landscape design group Supermass Studio, and the Danish urban and architectural design group Urban Agency for the Mokdong 8 Complex reconstruction.Daewoo Engineering aims to combine the expertise of these global firms to create a landmark complex that represents the Mokdong New Town.In the structural design sector, Daewoo will partner with Arup. Headquartered in London, Arup has participated in the structural design and engineering of global high-rise and mixed-use development projects, including Malaysia's Merdeka 118, China's Shanghai Tower, and Singapore's Marina Bay Sands.Daewoo plans to review the structural system for the Mokdong 8 Complex, which is designed to reach a height of 180 meters, and establish safety measures to withstand external factors such as earthquakes and strong winds.In the landscaping sector, Daewoo will collaborate with Supermass Studio, a landscape design firm involved in global projects such as Helsinki's South Harbor and New York's LaGuardia Airport Terminal B Concourse Park.The key landscaping concept proposed by both firms is the 'Living Arboretum.' This concept envisions the entire complex as a single arboretum, organizing 12 themed tree collections based on a taxonomic classification system.Each tree collection will be linked to pedestrian pathways, water features, and community spaces. The design aims to reflect the local characteristics of Mokdong and its identity as an educational city, allowing residents to experience nature within the complex.The exterior design will be developed in partnership with Urban Agency from Denmark. Daewoo Engineering is analyzing the location of the Mokdong 8 Complex, the surrounding urban environment, and key sightlines to create an exterior design that embodies the complex's identity.The core concept of the exterior design is 'Infinite Prism.' Just as a prism expands a single light into various spectra, this design aims to encapsulate the diverse values of Mokdong and the lifestyles of its residents. The focus is on achieving a distinctive skyline for the Mokdong 8 Complex while harmonizing with the surrounding urban landscape.Daewoo Engineering plans to integrate the structural, exterior, and landscaping designs into a cohesive proposal, utilizing Arup for structural safety, Supermass Studio for landscaping, and Urban Agency for exterior and urban landscape design.A Daewoo Engineering representative stated, "Given that the Mokdong 8 Complex is located in the heart of Mokdong, which has represented South Korea for a long time, a new design is needed that not only inherits existing values but also leads future residential culture. Through collaboration with globally recognized firms, we aim to propose a differentiated landmark complex that combines safety and design competitiveness."* This article has been translated by AI. 2026-09-17 09:56:10
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KIND Enhances Support for Companies Expanding into Central Asia The Korea Overseas Infrastructure & Urban Development Corporation (KIND) is strengthening its collaboration on infrastructure and urban development with key countries in Central Asia, aiming to expand opportunities for South Korean companies in the region.On September 17, KIND announced its participation in the 'Korea-Kazakhstan Business Roundtable' and the 'Korea-Uzbekistan Business Forum,' as well as the 'Korea-Central Asia Five Countries Business Summit' held in Seoul from September 15 to 16.During the 'Korea-Kazakhstan Business Roundtable' on September 15, KIND met with the President of Kazakhstan to discuss the follow-up development of the 'Alatau New City Smart Town' project, which is part of the K-City Network initiative, as well as ways to identify promising investment projects and increase participation from South Korean companies.The Alatau New City Smart Town project aims to integrate South Korean smart city technologies into a designated area within the smart city being developed north of Almaty, Kazakhstan's economic capital. KIND is managing the project under a mandate from the Ministry of Land, Infrastructure and Transport.KIND also signed a framework agreement with the Alatau City Authority and a memorandum of understanding with the local private developer Caspian Group. Additionally, a strategic cooperation agreement was established to collaborate on the creation of a joint investment platform with the Kazakhstan Investment Corporation and to identify investment development projects.On the same day, at the 'Korea-Uzbekistan Business Forum' held at the Shilla Hotel, KIND met with the President of Uzbekistan to discuss the progress and collaboration on ongoing projects, including the 'Tashkent Smart Bio Cluster' and the 'Smart Aero City' surrounding the new Tashkent Airport. A memorandum of understanding was also signed to enhance cooperation in identifying joint projects in infrastructure and urban development with the Uzbekistan Reconstruction and Development Fund (UFRD).On September 16, KIND participated in the MOU exchange ceremony at the 'Korea-Central Asia Five Countries Business Summit' held at the Westin Chosun Seoul, where it exchanged two cooperation documents with key institutions from Kazakhstan, Uzbekistan, and Kyrgyzstan.KIM Bok-hwan, the president of KIND, stated, “Through this summit, we will strengthen our cooperation with the governments of key Central Asian countries. We have laid the groundwork for promising projects identified through the K-City Network initiative and feasibility study support projects to lead to tangible investment outcomes and participation from our companies in development projects.”* This article has been translated by AI. 2026-09-17 09:56:10
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Special Prosecutor's Office Conducts First Raids on Election Commission The Special Prosecutor's Office investigating allegations related to a shortage of ballots during the June 3 local elections has launched its first forced investigation just ten days after its establishment.According to legal sources on September 17, the special prosecutor is conducting raids at a total of nine locations, including the National Election Commission and local election offices. This marks the first time the special prosecutor has carried out a forced investigation since its inception on September 7.The special prosecutor has deployed prosecutors and investigators to the National Election Commission to secure materials, including internal server data, from their offices. After analyzing the collected materials, the special prosecutor plans to consider summoning related individuals.The special prosecutor's investigation, which can last up to 150 days, focuses on 12 areas, including allegations of violations of voting rights due to ballot shortages, manipulation of election statistics such as voter turnout, mismanagement of essential election materials like ballot storage boxes, and corruption allegations involving current and former members and staff of the election commission related to overseas trips and preferential contracts.* This article has been translated by AI. 2026-09-17 09:56:00
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Samsung Life Selects Nine Consumer Protection Heroes 삼성생명은 서초 삼성금융캠퍼스에서 ‘고객을 지키는 약속, 신뢰로 잇는 미래’를 슬로건으로 제2회 ‘금융소비자의 날’ 행사를 열었다고 17일 밝혔다. 행사에는 임직원과 컨설턴트, 고객 패널 등 200여명이 참석해 소비자보호 실천 사례와 주요 성과를 공유했다. 이날 행사에서는 소비자보호에 기여한 임직원과 컨설턴트 9명이 ‘소비자보호 히어로’로 선정됐다. 고객 권익 보호뿐 아니라 취약계층 지원과 금융피해 예방 등 현장에서 소비자보호를 실천한 사례를 발굴해 공유하는 자리다. 서면지역단 광무제일지점 이미자 컨설턴트는 암 진단을 받은 고객의 치료 과정에 지속적으로 동행한 사례로 선정됐다. 보험의 필요성을 느끼지 못했던 고객에게 보장자산의 중요성을 안내한 이후 인연을 이어갔으며 암 발병 후에도 필요한 지원을 제공했다. 소비자권익보호위원회의 활동 성과도 소개됐다. 삼성생명은 학계·법조계·의료계 등 외부 전문가로 구성된 위원회를 2018년부터 운영하고 있다. 소비자 권익과 관련한 주요 사안을 심의하고 고객 관점의 의사결정을 지원하는 역할이다. 지금까지 위원회에 상정된 안건은 총 198건이며 이 가운데 118건이 최종 수용됐다. 올해는 10건 가운데 9건이 수용됐다.* This article has been translated by AI. 2026-09-17 09:52:10
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PGA Tour to Implement Promotion and Relegation System Starting in 2028 The PGA Tour has finalized details for its promotion and relegation system, set to begin in 2028.On September 16, the PGA Tour announced the membership categories for the new 'PGA Tour Championship Series' and the qualifications for the lower-tier 'PGA Tour Challenger Series,' which will replace the current competitive structure.The key feature is the annual promotion and relegation system between the two series. The Championship Series will feature an average of 120 players. After the season concludes, the top 90 players in points will retain their membership for the following season. Among those who do not make the top 90, 20 players will be relegated to the Challenger Series, while the top 20 from the Challenger Series will be promoted to the Championship Series.There will also be pathways for promotion during the season. Players in the Challenger Series who achieve two or more wins in a season can be promoted to the Championship Series mid-season. Additionally, the player who finishes first in the PGA Tour college rankings after the NCAA Championship will receive immediate entry into the Championship Series.The benefits for winning major tournaments will be reduced. Previously, major champions received a five-year exemption, but starting with the 2027 major winners, they will only receive a two-year exemption. After the introduction of the Championship Series, the exemption period for major tournaments will align with that of regular events. Winners of Championship Series events will be guaranteed entry for the current season and the following two seasons. However, players who secure a five-year exemption by winning a major tournament this year will retain their rights.A new 'Last Chance Series' will also be established, providing opportunities outside of regular promotions. This series will consist of at least four events held in the fall, featuring players relegated from the Championship Series, those remaining in the Challenger Series, players promoted from the Korn Ferry Tour, top performers from PGA Q School, and college players ranked 2nd to 5th, competing for three spots in the Championship Series.Brian Loughnane, CEO of the PGA Tour, stated, "From the beginning, our goal has been to uphold the unique competitive principle of golf, where opportunities are awarded based on performance. Through the new eligibility criteria and various pathways to the PGA Tour, we aim to reward outstanding achievements and provide a clear path for players to advance to the next level, regardless of where they are in their careers. Fans will have a clearer understanding of what players are competing for at each event and throughout the season."In the final season under the current system in 2027, the criteria for entry will also change. Currently, players ranked up to 100 in the FedEx Cup standings earn entry for the next season, but in 2027, players must finish in the top 95 to qualify for the 2028 Championship Series.Meanwhile, the PGA Tour will kick off its fall series on September 17 with the Biltmore Championship, featuring eight events over ten weeks. Players must finish in the top 100 of the FedEx Cup standings after the fall series to secure eligibility for 2027.* This article has been translated by AI. 2026-09-17 09:52:00
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Coway Partners with Seoul National University to Launch Microbial Food Waste Processor Coway announced on September 17 that it has signed a technology transfer agreement with Seoul National University for the development of a 'microbial food waste decomposition mixed strain technology.'Professor Kang Dong-hyun's research team at Seoul National University has secured optimal microbial selection technology that effectively decomposes proteins, carbohydrates, dietary fibers, and fats, tailored to the characteristics of South Korea's food waste, which is often spicy, salty, and moist.Through this academic partnership initiated in 2023, Coway has gained a competitive edge in identifying and evaluating superior microbes from traditional fermented foods. The company has internalized research capabilities to select and cultivate decomposition strains optimized for the Korean food waste processing environment based on exclusive technology transfer.Currently, Coway is preparing to launch its 'Zero Food Waste Processor - Microbial Type' at the end of this month, with pre-consultation reservations and promotions underway.Professor Kang Dong-hyun stated, "This is a significant case of transferring nature-friendly foundational technology, and I hope it serves as a solution to hygienically and environmentally address the food waste issue."Coway emphasized, "With the exclusive technology transfer, we have secured a unique technological advantage in the food waste processor market and will lead the market by introducing next-generation eco-friendly food waste processors."* This article has been translated by AI. 2026-09-17 09:52:00
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Deputy Prime Minister Koo Yoon-cheol Chairs Final Economic Meeting Amid U.S. Rate Hikes Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol chaired what is effectively the last expanded macroeconomic financial meeting, urging close cooperation among the economic and financial teams in response to U.S. interest rate hikes. He also expressed gratitude to the heads and staff of related agencies for their collaboration in stabilizing the financial and foreign exchange markets.On September 17, Koo convened the meeting at the Government Seoul Complex with Bank of Korea Governor Lee Hyun-song, Financial Services Commission Chairman Lee Ok-won, and Financial Supervisory Service Chairman Lee Chan-jin to assess the impact of the Federal Open Market Committee's (FOMC) interest rate hike and the financial and foreign exchange market effects stemming from the ongoing conflict in the Middle East.Participants noted that the U.S. Federal Reserve raised its policy rate considering robust economic and employment conditions, high inflation, recent increases in international oil prices, and heightened geopolitical uncertainties.This rate hike had already been factored into the market, and overall financial market conditions remain stable, suggesting limited impact on the market. However, they agreed to monitor the Fed's strengthened commitment to price stability, the possibility of further rate hikes this year, and upcoming monetary policy decisions from the Bank of Japan (BOJ) and the Bank of England (BOE).The meeting also outlined plans to closely monitor international oil prices and global capital flows, ensuring ongoing assessments of their effects on the domestic financial and foreign exchange markets through inter-agency cooperation.Regarding the government bond market, they diagnosed that volatility has increased due to changes in domestic and external conditions, including the Fed's rate hike. Given the potential for continued uncertainty, they will keep a close watch on market trends and implement necessary stabilization measures if excessive market concentration occurs.They also reviewed the repayment burdens on vulnerable borrowers due to rising loan rates. Participants agreed to proceed with previously announced support measures for these borrowers and to develop supplementary plans if necessary.Recent changes in domestic and external economic conditions, such as the current account surplus, and their impact on market liquidity were also discussed. They plan to examine related capital flows and liquidity conditions while assessing their effects on financial and asset markets.Koo expressed gratitude to the Bank of Korea, the Financial Services Commission, the Financial Supervisory Service, and other related agencies for their efforts to stabilize the market. He urged the economic and financial teams to continue responding swiftly and organically based on the cooperation framework they have built.Meanwhile, the National Assembly adopted the confirmation report for Lee Hyung-il, the nominee for Deputy Prime Minister and Minister of Economy and Finance, indicating that this meeting will likely be Koo's last as chair. 2026-09-17 09:52:00