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Busan High School Students Use AI to Address Local Marine Issues Busan high school students in gifted programs are making headlines by developing digital services that utilize artificial intelligence to address key local marine issues.According to the Busan Metropolitan Office of Education's Gifted Education Promotion Institute, the '2026 High School Future Talent Frontier Leader Training Camp' was successfully completed after five sessions held from July 28 to August 13.Hosted by the Busan Metropolitan Office of Education and organized by the Promotion Institute, the camp saw participation from 762 students across 34 high schools in Busan, representing a high participation rate of 95% of all gifted program students this year.Among the 34 schools with gifted programs, the highest number of participants came from Saha District (6 schools) and Dongnae District (5 schools). Other participating districts included Busanjin and Haeundae (4 schools each), Sasang and Suyeong (3 schools each), Geumjeong and Bukgu (2 schools each), and Gangseo, Gijang, Donggu, Seo-gu, and Yeongdo (1 school each), showcasing exceptional talent from across Busan.The camp focused on the theme of 'marine,' a key infrastructure for Busan. Students integrated AI technologies, including vibe coding, into a design thinking process to identify and address local marine issues, planning and developing web and app-based digital services.As a result of the evaluations, six projects were selected as outstanding. The chosen services include: △ 'Crowdy AR,' an augmented reality-based missing person finder for crowded areas; △ 'BOSO,' a location-based reporting service for marine waste and facility damage; △ 'Sea Monster GO,' a beach waste collection reward service; △ 'Cargo Master,' a 3D port logistics simulation; △ 'SUPERNOVA,' a real-time seafood price comparison service; and △ 'Wind Finder,' a building wind risk alert service.The developed services were entirely executed by the students, from planning to deployment. While they are not yet officially registered on app markets (Google Play, App Store), they have been made publicly accessible through web links and QR codes, with source codes available on GitHub. However, some outstanding projects that include location information and citizen reporting features still face challenges regarding privacy protection and false reporting responses for actual commercialization.A representative from the Promotion Institute stated, "Currently, we are in the initial development stage using idea planning and APIs. We plan to thoroughly address privacy issues related to multiple accesses through expert reviews in the future."The Promotion Institute aims to enhance the outstanding apps through expert consultation and technical improvements in the second half of the year, with plans to disseminate the results to the local community and educational settings.Meanwhile, the Promotion Institute is conducting an AI camp for elementary, middle, and high school students under the same overarching theme of 'marine.' Following the completion of the middle school camp (Physical AI) and the current high school camp, an elementary school camp utilizing G-Cube and ping pong robots is scheduled for next week.Yoon Hye-jung, head of the Busan Metropolitan Office of Education's Gifted Education Promotion Institute, emphasized, "This camp provided students with a meaningful opportunity to empathize with real issues in Busan and seek proactive solutions using advanced technology. We will actively support our students in growing into creative and practical global future talents."* This article has been translated by AI. 2026-08-24 13:36:00 -
Seoul unveils national AI ethics principle SEOUL, August 24 (AJP) - South Korea has adopted a set of national ethics principles for artificial intelligence, laying out common standards that developers, users, government and society are expected to uphold as the technology reshapes daily life. The Ministry of Science and ICT and the Korea Information Society Development Institute said Monday that the national ethics principles for AI were finalized on Aug. 21 after being reviewed and approved at a meeting of science and technology ministers. The framework enshrines three core values for the AI era, including human dignity, the public good of society, and the sustainability of humankind. It also sets out seven guiding principles to realize them, including human-centeredness, privacy protection, fairness and inclusiveness, accountability, safety, reliability and transparency. The government said it drafted the principles as AI drives productivity gains and new services but also stirs mounting anxieties over jobs, copyright, overreliance and the delegation of consequential decisions such as hiring to machines. Notably, it casts users, not just suppliers, as active stewards of responsible AI, and urges that the technology's benefits not accrue disproportionately to any single nation, region or group. "Accelerating AI innovation and building a safe, trustworthy AI environment are not conflicting tasks," said Bae Kyung-hoon, Deputy Prime Minister and Minister of Science and ICT. Bae added that the principles should take root as a practical benchmark that bolsters public trust and helps spread the technology's benefits. The ministry said it plans to roll out case-based explanatory guides, sector-specific self-assessment checklists and tailored ethics education materials, and to keep refining the principles over time. AJP Takeaways Seoul is betting that ethics and speed can coexist — the guidelines are voluntary rather than binding, positioning Korea to court AI investment while signaling accountability, a balance Bae has pushed since taking the newly created deputy prime minister post. The move slots into President Lee Jae Myung's broader ambition to make Korea a top-three AI power, and follows the ministry's recent tie-ups with Google DeepMind and outreach to Nvidia. The framework's emphasis on users as responsible actors — not just corporate suppliers — is an unusual feature that could shape how future, more enforceable AI regulation is written. 2026-08-24 13:33:38 -
Hanmi Pharmaceutical Signs Exclusive License Agreement with Genentech for Obesity Drug Hanmi Pharmaceutical has signed an exclusive license agreement with Genentech, a subsidiary of Roche Group, for its innovative drug candidate HM17321 (a UCN2 analog). The deal, valued at up to approximately $2.3 billion (about 3.2 trillion won), is expected to accelerate Hanmi's entry into the global obesity treatment market.On August 24, Hanmi Pharmaceutical announced the exclusive licensing agreement for HM17321, aimed at treating metabolic diseases such as obesity, type 2 diabetes, and cardiovascular diseases.Under the agreement, Genentech will secure exclusive rights for the development, manufacturing, and commercialization of HM17321 worldwide, excluding South Korea. Hanmi will receive an upfront payment of $190 million (approximately 262.9 billion won), with the total contract value, including clinical development, regulatory approval, and commercialization milestones, amounting to about 3.2 trillion won. After the product launch, Hanmi will also receive separate royalties.The upfront payment represents about 8% of the total contract value, which is notable considering that upfront payments in global licensing agreements typically account for around 5%. This is also the largest upfront payment for a single drug candidate and is significant given that HM17321 is still in Phase 1 clinical trials, according to the company.HM17321 is a UCN2 analog developed by Hanmi Pharmaceutical, aiming to be the first-in-class drug that achieves both weight loss and muscle preservation. Existing GLP-1-based incretin obesity treatments have shown significant weight loss effects but have been criticized for accompanying reductions in lean body mass.Preclinical studies have confirmed weight loss and body composition improvement effects, both with single-agent administration and in combination with GLP-1-based treatments. Additionally, as a peptide-based therapy, there is potential for future development of fixed-dose combination (FDC) therapies with GLP-1 agents.Last November, Hanmi received approval from the U.S. Food and Drug Administration (FDA) for the Phase 1 clinical trial application (IND) for HM17321, and is currently conducting Phase 1 trials to evaluate safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) in healthy adults and obese patients. Genentech will take over development starting from Phase 2 trials.Choi In-young, Vice President and Head of Future Growth at Hanmi Pharmaceutical, stated, "We are honored that the differentiated scientific mechanism and development potential of HM17321 have been recognized in the global market. We will do our utmost to provide patients with more fundamental and differentiated therapeutic value through innovative drug development."Meanwhile, the company is preparing for the commercialization of its GLP-1 obesity drug 'Epe' within this year, centered around its new drug development project 'H.O.P (Hanmi Obesity Pipeline)'. Earlier this year, Hanmi also achieved technology export success by signing a licensing agreement with Eli Lilly for the development, manufacturing, and commercialization of its biopharmaceutical candidate 'Sonepeglutide'. 2026-08-24 13:24:00
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SESCO Earns EcoVadis Gold Medal, Recognizing Global ESG Achievements SESCO announced on August 24 that it has received the 'Gold Medal' from EcoVadis, an organization that awards the top 5% of companies globally for sustainability assessments.Based in Paris, EcoVadis operates the world's largest platform for evaluating environmental, social, and governance (ESG) practices, with over 150,000 companies participating from more than 180 countries.EcoVadis conducts in-depth evaluations across four key areas: environment, labor and human rights, ethics, and sustainable procurement, assigning ratings of Platinum (top 1%), Gold (top 5%), Silver (top 15%), and Bronze (top 35%).SESCO achieved the Gold Medal just one year after receiving Silver last year. This accomplishment follows its ongoing efforts to implement ESG practices, which began with obtaining ISO 14001 (Environmental Management System) and ISO 45001 (Occupational Health and Safety Management System) certifications in 2021. SESCO currently holds ISO certifications in a total of seven sectors.SESCO was the first in the industry to publish a sustainability management report and has joined the United Nations Global Compact (UNGC) this year to integrate universal principles into its management practices.A SESCO representative stated, "The acquisition of the EcoVadis Gold rating is a result of the efforts of all employees to cultivate and establish ESG values beyond just providing hygiene solutions for living environments." The representative added, "Having met the sustainability standards required by the global market, we will further enhance our competitiveness in business-to-business transactions both domestically and internationally."* This article has been translated by AI. 2026-08-24 13:04:00
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China Appoints Qin Weiguo as Hefei Party Secretary Amid Leadership Changes Hefei, the capital of Anhui province, has appointed another official born in the 1970s as its top leader, further solidifying its status as a hub for high-tech venture investment in China.On August 23, local media outlet Zhong'an Zaixian reported that the Anhui Provincial Standing Committee convened and appointed Qin Weiguo, a member of the Anhui Provincial Party Standing Committee and Secretary of the Political and Legal Committee, as the new Party Secretary of Hefei.This appointment fills the vacancy left by the former Party Secretary, Fei Gaoyun, who was dismissed in May due to serious disciplinary violations.Like his predecessor, Qin is a member of the 'Qilinghou' (born in the 1970s) generation. Born in 1970 in Guangxi Zhuang Autonomous Region, he graduated from Xi'an University of Technology and has earned both master's and doctoral degrees in business administration during his career.Qin began his career in Guangxi, working for various state-owned enterprises, including Guangxi Liugong Construction Machinery Group, Guangxi Market Development Investment Group, and Guangxi Transportation Investment Group. He also served as the Deputy Director of the Guangxi State-owned Assets Supervision and Administration Commission, gaining extensive experience in managing state assets.Having also served as the Deputy Mayor of Nanning, Qin moved to Anhui in 2020, where he advanced through the ranks as Deputy Secretary, Mayor, and Party Secretary of Huai Bei City. In 2024, he was appointed as Deputy Governor of Anhui, serving as Deputy Secretary and Secretary of the Political and Legal Committee before his recent appointment as Party Secretary of Hefei.Notably, Hefei has recently emerged as a model for local governments, successfully utilizing its state-owned investment platform to venture into high-tech companies, known as the 'Hefei model.' This approach allows local governments to secure equity in companies and invest long-term to develop the entire high-tech industry ecosystem. Notable companies that have received investments from Hefei's platform include Changxin Memory Technology (CXMT), China's leading DRAM manufacturer, BOE, the largest display manufacturer in China, and electric vehicle company NIO.Qin Weiguo's background in both state-owned enterprises and local government aligns with Hefei's policy direction, which emphasizes industrial investment and regional economic development.With three changes in the Party Secretary position in Hefei over the past two and a half years, Qin faces the challenge of ensuring organizational stability and continuity in industrial policy.This appointment positions Qin as a prominent figure among the next generation of leaders ahead of the 21st National Congress of the Communist Party of China next year.Additionally, Qin has shown an active interest in international exchanges through sports. According to China Observer Network, during his tenure as Party Secretary of Huai Bei City, he attended a soccer match and participated in the ceremonial kickoff. In April 2024, he was also reported to have watched a soccer game with Baek Young-hyun, the mayor of Pocheon City in South Korea, further highlighting his engagement in sports diplomacy. 2026-08-24 13:04:00
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BOK August rate call splits 5-4 over back-to-back hike SEOUL, August 24 (AJP) - The Bank of Korea has made clear that monetary policy is biased toward further tightening after its July rate increase, but economists are narrowly divided over whether it will deliver a back-to-back hike this week or wait until the fourth quarter to assess inflation and a sharp repricing in global bond markets. Five of nine economists in a combined AJP and Aju Business Daily survey expect the Monetary Policy Board to hold the benchmark rate at 2.75 percent on Thursday, while four forecast another 25-basis-point increase. The split reflects competing views over whether stronger growth and financial-stability risks warrant another immediate hike, or whether softer headline inflation, a firmer won and the need to assess the impact of July's increase give the BOK room to wait. The case for another hike has been strengthened by an economy that continues to outperform earlier expectations. South Korea's gross domestic product expanded 0.6 percent from the previous quarter and 3.7 percent from a year earlier in the second quarter. The BOK is expected to raise its 2026 growth forecast to above 3 percent from the 2.6 percent projected in May, largely reflecting prolonged strength in semiconductor exports. The revised economic outlook will be released Thursday after the rate decision. At the same time, inflation has softened despite entrenched conflict in the Middle East. Consumer price growth slowed to 2.8 percent in July from 3.2 percent in June, while the won strengthened into the 1,300-per-dollar range. Core inflation excluding food and energy, however, remained elevated at 2.6 percent. The stronger won has also eased pressure from import prices. "Semiconductor-led export strength is translating into double-digit nominal growth," said Yoon Yeo-sam, an economist at Meritz Securities. Yoon also pointed to household debt and volatility in property and equity markets as financial-stability risks that could warrant further tightening. He expects the policy rate to reach as high as 3.25 percent by year-end. Strong second-quarter GDP and gross domestic income, firmer core inflation and resilient semiconductor exports and current-account conditions also support front-loading further tightening, according to Cho Yong-gu of Shinyoung Securities, who forecasts a 25-basis-point increase this week. Cho said the widening increase in non-mortgage borrowing, including overdraft credit, also supported an earlier move. Recent declines in stock prices and the won-dollar exchange rate were more likely to influence the eventual peak in rates than Thursday's decision, he said. Cho expects the policy rate to reach 3.25 percent by year-end and the BOK to raise its 2026 growth forecast to around 3.3 percent while keeping its consumer inflation projection at 2.7 percent. After two rapid increases, however, he expects the central bank to pause for at least one meeting to assess their impact on growth, inflation and financial stability. Kim Jung-sik, an economist at Yonsei University, expects annual growth to exceed 3 percent on strong semiconductor exports and a large current-account surplus. But he sees that external strength as also supporting the won and easing imported inflation pressure. Kim expects the policy rate to stand at 3.00 percent at year-end. "An August hold would be closer to a pause to check the data before another hike than the end of the hiking cycle," said Kang In-soo, an economist at Sookmyung Women's University. He expects the policy rate to finish 2026 at 3.00 percent and sees the BOK raising its growth forecast to around 3.0 percent while keeping its consumer inflation projection at 2.7 percent. Core inflation and the won-dollar exchange rate will be key variables for the next move, he said. The bond-market turmoil triggered by a sharp selloff in U.S. Treasuries is also likely to weigh on the BOK's policy path. The 10-year U.S. Treasury yield stood at 4.704 percent last Friday, up 53.71 basis points so far this year. South Korea's corresponding 10-year yield closed Friday at 4.376 percent, up 99.1 basis points over the same period. Japan's 10-year yield has risen 81.9 basis points. The increase in Korean yields has therefore been substantially steeper than in either the United States or Japan, even though the BOK began its latest tightening later. Thursday's meeting will also mark the first policy vote for newly appointed Senior Deputy Governor Kwon Min-soo, who sits on the seven-member board ex officio. Kwon said in his inaugural remarks that stronger semiconductor activity had lifted growth beyond earlier expectations, while inflation, household debt, housing prices, currency volatility and geopolitical and trade risks still called for "cautious and flexible" policy decisions. For markets, the vote split, the size of the BOK's growth upgrade and its guidance on the timing of the next move could prove as important as Thursday's rate decision itself. AJP Takeaways: - Five of nine economists in a combined AJP and Aju Business Daily survey expect the BOK to hold its benchmark rate at 2.75 percent on Aug. 27, while four forecast a 25-basis-point hike. - Yoon Yeo-sam and Cho Yong-gu see the policy rate reaching 3.25 percent by year-end, bringing forward tightening they had expected in the first quarter of 2027 in AJP's July poll. - Hike advocates point to stronger economic growth, persistent core inflation and credit risks, while the hold camp sees softer headline inflation and a firmer won as giving the BOK room to wait. - Respondents in AJP's follow-up survey expect the BOK to raise its 2026 growth forecast to at least around 3 percent, with Yoon at 3.4 percent and Cho at 3.3 percent. 2026-08-24 12:50:00 -
Hot Stock: Samsung SDI jumps over 7% on Samsung Display stake sale SEOUL, August 24 (AJP) - Shares of Samsung SDI jumped more than 7 percent Monday after the battery maker decided to sell its stake in Samsung Display for about 4.45 trillion won ($3.2 billion), raising expectations that the proceeds could support its expansion in North America. Its shares traded at 512,000 won by midday, up 7.11 percent, or 34,000 won, from the previous session. The stock climbed as high as 522,000 won during intraday trading. The company disclosed Friday after the market closed that it would sell its 15.2 percent stake in Samsung Display, in which it is a major shareholder, for about 4.45 trillion won ($3.2 billion). While it did not specify how it will use the proceeds, investors expect some of the funds to go toward its North American battery business, including a battery plant under construction in New Carlisle, Indiana. That investment is drawing attention because Samsung SDI is also seeking to expand its energy storage system, or ESS, business in the region. ESS batteries store electricity and release it when needed, and demand is expected to grow as AI data centers increase power consumption and put greater pressure on electricity grids. Analysts said full ownership of Synergy Cells, which is developing the battery plant in Indiana, would allow Samsung SDI to keep all of the profits from the battery business instead of sharing them with its partner. The optimism spread to other battery-related stocks. L&F surged 14.83 percent, while POSCO Future M rose 9.10 percent and SK Innovation gained 3.93 percent. LG Energy Solution advanced more than 4 percent. The broader rally also reflected hopes that gains in the domestic stock market could spread beyond semiconductor shares into other sectors. Analysts also see ESS as a potential new growth driver for battery makers, even as electric vehicle demand remains relatively sluggish. AJP Takeaways • Samsung SDI shares traded at 512,000 won as of 11:13 a.m. on Aug. 24, 2026, up 7.11 percent, after rising as much as 9.21 percent to 522,000 won earlier in the session. • Samsung SDI said on Aug. 21, 2026, that it would sell its stake in Samsung Display for about 4.45 trillion won ($3.2 billion), raising expectations that the proceeds could support battery investment in North America. • Investors are focusing on Samsung SDI's energy storage system (ESS) business, as rising electricity demand from artificial intelligence data centers is expected to increase demand for large-scale battery storage. 2026-08-24 12:48:11 -
Woojung Free Life Ranked First in Korean Consumer Satisfaction Index for 14th Consecutive Year Woojung Free Life announced on August 24 that it has been ranked first in the funeral service category of the Korean Consumer Satisfaction Index for 14 consecutive years.The company was recognized as the top firm in the funeral service category at the '2026 Korean Consumer Satisfaction Awards' held on August 19.Recently, Woojung Free Life has expanded its business scope beyond funeral services to become a total life care platform that encompasses all aspects of customers' lives. In addition to funeral services, the company now offers benefits tailored to customers, including burial sites, cruise travel, golf tours, wedding services, marriage information services, home interior design, celebrations for children, language study abroad programs, and senior monitoring services.The company is also focused on enhancing customer satisfaction in its funeral services. It provides VIP funeral arrangements and premium services through its directly operated funeral home, 'Shilnakwon,' and offers post-funeral services such as anniversary reminder text messages and digital memorial halls.A Woojung Free Life representative stated, "We have solidified our position as a leading company by surpassing 3 trillion won in accumulated advance payments, the first in the funeral service industry. This award will accelerate our transition to a total life care platform."* This article has been translated by AI. 2026-08-24 12:40:00
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Support Small Businesses with Gifts from the Companion Growth Mall The Korea Small Business and Startups Agency announced that the Companion Growth Mall will host a 'Chuseok Special Exhibition' from August 24 to October 18.This exhibition will feature 216 products from outstanding small and medium enterprises, suitable for gifts during the Chuseok holiday, which is the largest traditional holiday in Korea.Key products include gift sets of Korean pork and beef, fruit sets for ancestral rites such as apples and pears, and seafood sets including anchovies and seaweed.Established in 2018 by Han Yu-won, the Companion Growth Mall is an online welfare mall dedicated to small and medium-sized enterprises and small business owners. Employees of large corporations, public institutions, and small businesses can purchase items using welfare points and cards. Currently, over 200,000 high-quality products from around 3,000 small enterprises are available.Han Yu-won, CEO of the Companion Growth Mall, stated, "Due to the recent economic downturn and high inflation, small and medium enterprises and small business owners are facing many challenges. I hope this event will boost the sales of outstanding small enterprise products, making it a joyful holiday for everyone."* This article has been translated by AI. 2026-08-24 12:08:00
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Financial Supervisory Service to Host Briefing on Pharmaceutical and Bio Industry Disclosure Improvements 금감원은 제약·바이오 기업의 공시 체계를 손질한 데 이어 새 기준의 현장 안착을 위한 설명회에 나선다. 임상시험과 기술이전 등 핵심 정보가 전문적이고 불확실성이 커 투자자가 내용을 정확히 이해하기 어렵다는 판단에 따른 후속 조치다. 금감원은 다음 달 1일부터 21일까지 코스닥 상장사와 주관사, 상장 준비기업, 유가증권시장 상장사를 대상으로 총 4차례에 걸쳐 ‘제약·바이오 공시 종합 개선방안’ 설명회를 개최한다고 24일 밝혔다. 이번 설명회는 개선된 기준을 실제 공시 업무에 적용할 수 있도록 작성 방법과 유의사항을 안내하는 자리다. 금감원은 대상별 관심사항을 고려해 상장사와 주관사, 상장 준비기업별로 실무 내용을 구체적으로 설명할 예정이다. 첫 설명회는 다음 달 1일 코스닥 상장사를 대상으로 열리고 8일 주관사, 15일 상장 준비기업, 21일 유가증권시장 상장사 순으로 진행된다. 금감원은 기업들의 미흡한 공시 작성에 따른 정정 요구와 자금조달 일정 지연을 줄이고 투자자에게 일관되고 충실한 정보가 제공되도록 한다는 계획이다. 앞서 금감원은 지난 4월 ‘제약·바이오 공시 종합개선을 위한 TF’를 출범시켰다. 제약·바이오 업종은 기업가치가 현재 실적보다 미래 연구개발 성과에 크게 좌우되는 데다 임상시험과 기술이전 등 핵심 정보의 전문성과 불확실성이 높아 일반 투자자가 공시 내용을 이해하기 어렵다는 게 금감원의 판단이다. 이후 금감원은 지난달 30일 공시 종합 개선방안을 발표했다. 증권신고서와 정기·수시공시, 언론보도 등 정보 제공 채널 전반을 손질하는 내용이다. 개선안에 따르면 IPO 과정에서는 공모가격 산정에 활용되는 예상시장규모와 임상성공확률, 허가·심사 리스크, 개발기간 및 비용 등 핵심 가정을 구체적으로 기재하도록 했다. 기술이전 계약은 계약 규모와 구조에 대한 공시 범위를 확대하고, 개발 중인 신약물질의 전체 이력을 확인할 수 있도록 이력관리총괄표를 마련한다.* This article has been translated by AI. 2026-08-24 12:04:20