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  • Daewoo Engineerings CEO Lee Kang-seok Emphasizes Safety on First Site Visit
    Daewoo Engineering's CEO Lee Kang-seok Emphasizes Safety on First Site Visit Lee Kang-seok, the new CEO of Daewoo Engineering, visited a construction site for the first time since his appointment, emphasizing the need to strengthen safety management. He has made 'safety first' a central message as he initiates a management approach focused on site operations.On August 24, Daewoo Engineering announced that CEO Lee inspected the safety management status at a construction site as part of his first official schedule since taking office.During the visit, Lee stressed to site officials that safety is the top priority, surpassing both progress and quality. He specifically urged them to strictly adhere to basic safety rules and to enhance the management system by identifying and mitigating risks before work begins.This site visit is seen as a move to accelerate organizational stability and key project advancement under the new leadership. Lee, who joined Daewoo Engineering in 1996, is recognized as a traditional 'Daewoo man' with expertise in sales and external cooperation, and is regarded as capable of enhancing the company's competitiveness in securing domestic and international contracts.Recently, Daewoo Engineering has focused on selecting profitable projects in urban redevelopment and private development sectors domestically, while expanding high-value projects such as LNG, nuclear power, and data centers internationally. The choice of safety inspection as the new CEO's first official site visit is interpreted as a symbolic message regarding the future direction of management.As major construction companies increasingly view safety management as directly linked to corporate credibility, the emphasis on safety in the new CEO's initial site message carries significant weight.Moreover, the number of work stoppage rights exercised by Daewoo Engineering has been rising sharply each year. The number of work stoppages, which was around 2,000 in 2023, surged to 130,000 in 2024 and 190,000 in 2025, with 125,000 recorded by the end of July this year, indicating a continuing upward trend.* This article has been translated by AI. 2026-08-24 10:20:00
  • Kakao Pay Insurance Sees Doubling of Long-Term Overseas Insurance Subscribers
    Kakao Pay Insurance Sees Doubling of Long-Term Overseas Insurance Subscribers Kakao Pay Insurance has reported that the number of subscribers for its long-term overseas insurance has more than doubled in the past year. The increase is attributed to a broader demographic, now including not only those in their 20s and 30s preparing for study or working holidays but also individuals in their 40s who require coverage for family stays and overseas work.The company announced on August 24 that from January to July of this year, the number of long-term overseas insurance subscribers rose by 108% compared to the same period last year. This product, also known as 'Overseas N-Month Living Insurance,' is celebrating its second anniversary.Among the different subscription types, the DIY option, which allows users to customize their coverage and premium amounts, accounted for 38% of the total. This was followed by the Basic plan at 25%, Light plan at 21%, and Plus plan at 16%.The DIY option enables subscribers to set coverage amounts for overseas medical expenses due to injury or illness and for accident rescue and repatriation costs, ranging from 10 million to 200 million won. Subscribers can also add necessary riders or exclude unnecessary coverage. In December of last year, Kakao Pay Insurance increased the coverage limits for overseas injury and illness medical expenses and accident rescue and repatriation costs to a maximum of 200 million won each.Among the claims paid, overseas medical expenses for illnesses accounted for the largest share at 79%, while medical expenses for injuries abroad made up 18%. The average claim amount was 255,563 won, with the highest claim being 26.21 million won for overseas medical expenses related to mycoplasma pneumonia.In terms of countries, English-speaking nations such as Australia, the United States, Canada, and the United Kingdom represented about 36% of the total subscribers. The countries with the highest number of claims paid were Vietnam, Australia, Malaysia, China, and Thailand. Approximately 20% of subscribers re-enrolled while abroad.* This article has been translated by AI. 2026-08-24 10:16:10
  • Demand Survey for Regional Branches of National Museum of Modern and Contemporary Art
    Demand Survey for Regional Branches of National Museum of Modern and Contemporary Art Administrative Order Disrupted by Inflated Expectations The Ministry of Culture, Sports and Tourism has conducted a demand survey for local governments interested in establishing branches of the National Museum of Modern and Contemporary Art (MMCA). To facilitate this, the ministry commissioned a feasibility study for the construction of regional art museums and invited applications from local governments. As a result, cities in various regions, including Goyang and Incheon in the metropolitan area, Daegu, Changwon, Jinju, and Miryang in the Yeongnam region, Gwangju and Yeosu in the Honam region, and Wonju in Gangwon, expressed their interest in hosting a branch. Based on these applications, the ministry plans to prioritize regions according to the government's '5 poles and 3 special zones' policy for balanced national development, with a mid- to long-term plan to be announced in the first half of next year, including the first phase of construction sites. This direction is largely correct. Given the concentration of national visual cultural assets in Seoul and Gwacheon, and the awareness of the widening cultural gap in regions following the donation of the Lee Kun-hee Collection in 2021, the central government's response to local voices is commendable. Legal Hurdles Pile Up The competition among local governments to attract branches of the National Museum of Modern and Contemporary Art is heating up. However, the ministry has not adequately examined why branch construction has been impossible until now or what legal and administrative measures are necessary for future branch establishment. The walls that local governments face cannot be overcome merely by their willingness to provide land and secure budgets. First, there is no legal basis for establishing branches. While Article 10, Section 4 of the Museum and Art Museum Promotion Act states that local museums and art galleries can be established under the National Museum of Modern and Contemporary Art, the MMCA is currently a responsible operating institution under the ministry. There are no legal provisions allowing responsible operating institutions to establish subordinate institutions, or 'second-tier institutions.' The very concept of a 'branch of the National Museum of Modern and Contemporary Art' cannot exist within the current government organization law and the responsible operating institution law. Thus, establishing a branch under the MMCA would violate the law. Even if a branch were to be forcibly established through legal loopholes, the nature of the responsible operating institution cannot be defined. Depending on whether the regional branch is designed as an 'academic institution' with research capabilities or as a 'cultural and artistic dissemination and exhibition type' focused on exhibitions and enjoyment, the type of responsible operating institution would change. However, there is no legal basis for designing a regional branch as an academic institution since art museums are not legally classified as 'academic' institutions. Ultimately, the issue of governance conflicts is unavoidable. If the branch is established as a special corporation, the main institution would remain a responsible operating institution while the branch would be a special corporation, leading to a coexistence of different legal statuses within one organization. This would inevitably result in fundamental conflicts in the command and supervision system, as well as in personnel and budget allocation methods. It is also necessary to clarify the driving force behind the initiative. The establishment of local cultural and artistic institutions is primarily the responsibility of the cultural infrastructure department. However, the Visual Arts and Design Division has taken the lead in branch construction due to its oversight of the National Museum of Modern and Contemporary Art. This has led to a lack of reflection of the experience and know-how accumulated from the establishment of local branches of the National Museum of Korea. In particular, if the regional branch aims to be an art museum, the cultural infrastructure department should take the lead, while if it aims to be an exhibition space without a collection, the Visual Arts and Design Division's involvement is appropriate. However, if the Visual Arts and Design Division leads the initiative, the art museum that the local government wishes to attract, which is supposed to have a collection, may end up being merely an exhibition space without a collection. If local governments are led to believe they are attracting a branch of the National Museum of Modern and Contemporary Art but end up with a space resembling a Kunsthalle, it would result in the central government deceiving the regions. Therefore, if the project is named 'Establishment of Regional Art Museums,' it should be overseen by the cultural infrastructure department. The mismatch between the responsible department and the driving force undermines the professionalism and accountability of the policy. Finally, there remains the issue of equity with other responsible operating institutions. Other responsible operating institutions, including the National Museum of Korea, also have similar demands for branch construction. If only the National Museum of Modern and Contemporary Art establishes separate legal and organizational solutions, there is a significant risk of undermining the consistency of the entire responsible operating institution system. These various issues are not separate matters. The absence of legal grounds leads to institutional impossibility, which in turn leads to undefined characteristics, resulting in governance conflicts, which then expand into issues of unsuitability of the driving force and equity with other institutions. Regardless of the practical conditions of land and budget, unless this fundamental legal and institutional design is prioritized, the establishment of a branch of the National Museum of Modern and Contemporary Art is not feasible. Nevertheless, the ministry has begun the demand survey without resolving these preconditions. This is an example of administrative order being disrupted by inflated expectations, akin to entering a kitchen to cook without rice. The competition for attracting branches, conducted without establishing fundamental legal grounds and governance conclusions, will ultimately only encourage wasteful competition among local governments and foster unrealistic expectations. What is needed now is not a flashy blueprint for branch attraction but a sober establishment of laws and systems that directly address these issues. International Branch Policies Looking at international examples, the concept of 'regional branches of national art museums' is not universal. In fact, the 14 local branches of the National Museum of Korea are somewhat unusual. The UK's Tate operates as a single entity, integrating Tate Britain and Tate Modern in London with regional branches in Liverpool and St. Ives under a unified governance model without establishing new organizations. France's Louvre opened a branch in Lens, an old coal mining area, in 2012, linking it to national balanced development policies, while the Pompidou Center continues to expand through brand licensing, with branches in Metz, Malaga, and a planned branch in Seoul by 2026. Both countries share a financial agreement structure where local governments contribute significantly to land and construction costs. In contrast, Germany, as a federal state, exercises cultural policy at the state level, meaning the concept of 'regional branches of national art museums' does not exist. The five branches of the Berlin National Gallery are all located within the city, while the Städel Museum in Frankfurt and the Pinakothek der Moderne in Munich fall under the jurisdiction of state and city governments, respectively. The Rijksmuseum in Amsterdam maintains a single location due to the country's small size and ease of intercity travel, relying on traveling exhibitions and loans to enhance regional accessibility. Australia’s National Gallery and each state’s independent state art museums exist as separate entities with different affiliations and budgets, making the concept of 'regional branches of national museums' unfeasible. The National Gallery in Prague operates as a single institution based on law, managing various historical buildings in the city, including the Sternberg Palace, which focuses on pre-Baroque European art, the Schwarzenberg Palace for Baroque art research, and the Convent of St. Agnes for medieval art, along with the Veletržní Palace for 19th to 21st-century art. Poland's National Museum in Kraków also operates branches based on periods and genres, serving as a hybrid model worth noting. Both museums are overseen by a single entity with departments for painting and sculpture, operating various branches like exhibition spaces for their respective research departments. This model allows for diversified exhibition venues without separate institutional heads or budgetary authority, providing a reference for Korea, which is hindered by the constraints of responsible operating institutions. Ultimately, no country is required to build branches, and these examples demonstrate that entirely different solutions are possible based on geographical and administrative conditions. Regional Art Museums: A Starting Point for 21st Century Museum Policy In an era of accelerating population decline and discussions on administrative consolidation, it is essential to critically assess whether a high-cost, fixed branch model based on buildings and resident staff can be uniformly applied to all regions. France has been expanding cultural accessibility in small towns through the 'Micro-Poly' project, an innovative digital cultural hub initiative led by the Ministry of Culture and coordinated by La Villette, involving 12 national cultural facilities, including the Grand Palais, the Louvre, the Palace of Versailles, the Musée d'Orsay, and the Pompidou Center, without physical branches. The establishment of a national collection fund that acquires artworks for loan and circulation among museums nationwide is also a viable alternative to ensure consistent access to quality collections without new buildings. Examples include France's National Modern Art Fund and the National Center for Visual Arts, the UK's 'Museum Without Collections' initiative, and Australia's 'National Collection Sharing Project.' The National Museum of Modern and Contemporary Art has been operating a regional museum collaboration network since 2020, supporting traveling exhibitions and local museums. In 2022, it diversified its efforts by providing support for collection management systems and archive construction, as well as matching recommended artists and experts. Starting in 2026, the initiative will expand to include traveling exhibitions, international artist commissions, film and multimedia arts, education, and support for standard management systems for artworks through the 'MMCA Regional Partnership' project. Since this approach expands existing infrastructure, it has the advantage of lower legal and administrative barriers compared to establishing branches, allowing for flexible adjustments to regional program placements each year. However, limitations are evident. In most collaborative projects, the National Museum of Modern and Contemporary Art has primarily assisted other institutions as a larger, more specialized entity, and the lending of collections has been limited, often resulting in a one-sided approach to traveling exhibitions. Nonetheless, there are functions that cannot be filled through collaboration alone. While traveling exhibitions may last a couple of months, local residents desire a place where they can 'always see national-level exhibitions.' Only branches can fulfill this need. To fundamentally address the issue of overcrowding in storage facilities centered in Seoul and Gwacheon, physical spaces for preserving and storing collections must be distributed regionally. Unlike collaborative projects, which can be subject to budgetary constraints, branches established under law and organizational structure can be maintained more stably. This is why regions prefer branches over collaborations. Ultimately, a realistic approach may involve gradually combining both methods. In fact, the Ministry of Culture's plan for the National Museum of Modern and Contemporary Art to relocate to Seoul and establish five regional branches was an innovative blueprint aimed at cultural decentralization and the era of unification, set forth in the 2004 'Creative Korea - Vision for a New Culture of the 21st Century' and its detailed implementation plan, 'New Korean Art Policy.' The concept of regional branches planned alongside the relocation of the National Museum of Modern and Contemporary Art was intended to go beyond mere spatial expansion, embodying a commitment to regional balanced development through visual arts. The Yeongnam branch was envisioned to combine rich human and material resources in modern art, while the Honam branch aimed to merge the traditional landscape painting of the southern school with contemporary art. The central Chungcheong branch was to focus on printmaking and crafts based on the geographic advantage of the country's center, and the National International Art Museum was planned for Jeju as a free international city, with a National Ethnic Art Museum in northern Gyeonggi to restore ethnic homogeneity in preparation for unification. Although not fully realized due to budget and political conditions, this vision is regarded as a milestone in the multi-branch system of the National Museum of Modern and Contemporary Art and a key reference for today's cultural balanced development. It is hoped that this previous plan will inform the current 'Establishment of Regional Art Museums.' 'Public Incorporation' Before Action The most efficient method for establishing regional branches of the National Museum of Modern and Contemporary Art, while directly circumventing legal constraints, is 'public incorporation' based on special legislation. This would involve changing the governance structure to a separate public corporation, such as 'National Museum Corporation National Museum of Modern and Contemporary Art (tentative),' and integrating local branches as subsidiaries. There is already a precedent for this, as Seoul National University gained independent legal status through the 'Law on the Establishment and Operation of the National University Corporation Seoul National University.' Additionally, museums like the National Science Museum and the National Museum of Letters already exist as incorporated entities. Therefore, if the National Museum of Modern and Contemporary Art is incorporated, it would not need to obtain new civil service positions and organizational structures for each new branch, as personnel and organization could be reallocated internally, fundamentally resolving the major obstacle of 'restrictions on the establishment of second-tier institutions by responsible operating institutions.' This model is similar to the UK's 'non-departmental public bodies' or France's 'cultural cooperation public corporation (EPCC),' allowing for the promotion of local branches while bypassing hurdles like organizational reviews and preliminary feasibility studies. However, it is also essential to consider safeguards for local government participation rights, regularization of local branch curatorial staff, and prior adjustments to the management system of state-owned property. Moreover, institutional reforms cannot be delayed. The definition of 'art museum' in Article 2 of the Museum and Art Museum Promotion Act should be amended to include 'academic' to restore consistency with the purpose clause in Article 1. This is a matter of correcting the definition clause to align with the legislative intent already specified in Article 1, so legislative resistance is unlikely to be significant. Additionally, the National Museum of Modern and Contemporary Art's research and investigation functions should be explicitly defined at the legal or organizational level to qualify for national academic promotion support projects, and the division of responsibilities between the cultural infrastructure department and the arts policy department should be clearly delineated. A comprehensive reform plan that encompasses other responsible operating institutions, such as the National Theater, which shares the same organizational provisions, should also be established to avoid equity disputes. The absence of the word 'academic' in the definition clause may seem like a minor issue, but it actually has far-reaching implications, leading to inconsistencies with the purpose clause, conflicts with the structure of responsible operating institutions, and weaknesses in the legal basis for branch project design, all of which hinder the establishment of regional art museums. The Ministry of Culture must now recognize and address this structural flaw. With over ten local governments entering the competition for branches and the announcement of a mid- to long-term plan expected in the first half of next year, the procedure of merely confirming local enthusiasm without addressing legal and administrative roots poses a significant risk of inflating expectations and leading to disappointment. The Ministry of Culture, Sports and Tourism must prioritize discussions on organizational restructuring alongside the demand survey and feasibility study, or even before them. It is essential to distinguish between what should be done first and what can wait, as well as between fundamental and peripheral issues.* This article has been translated by AI. 2026-08-24 10:16:10
  • Iran Security Chief Warns of Oil Export Halt Amid U.S. Sanctions Threat
    Iran Security Chief Warns of Oil Export Halt Amid U.S. Sanctions Threat As the Trump administration prepares to announce significant economic sanctions against Iran, Mohsen Rezaei, the new chairman of Iran's Supreme National Security Council, indicated that not a single drop of oil will be exported from the Gulf region in response.Rezaei, known for his hardline stance, stated on social media platform X on August 23, "If the economic war continues, not a single drop of oil will be exported, whether through the Strait of Hormuz or elsewhere in the Persian Gulf. Iran will consider any country that participates in or supports the U.S. economic war against the Iranian people as engaging in acts of war."In an interview with state media reported on August 22, he added, "If Trump does something, we will respond on a massive scale," suggesting potential attacks on alternative oil export routes in the Gulf region.These remarks come in response to President Trump's announcement last week of impending economic sanctions against Iran. With inflation impacting his administration ahead of the midterm elections, Trump appears to be targeting Iran's oil exports to drive up prices, which could further complicate his political standing.On August 20, Trump stated on his social media platform Truth Social, "No one has given the Islamic Republic of Iran more opportunities than I have, but unfortunately, they failed to seize that opportunity. Therefore, today I am announcing the most severe economic operation against specific countries! This will be an unprecedented economic war and isolation effort." He warned that any country providing lifelines to Iran's financial institutions, businesses, airports, or government agencies would face severe economic consequences, calling it an "economic D-Day" and urging all allies to join the U.S. in isolating and countering the Iranian threat.Additionally, U.S. Treasury Secretary Scott Vessenet warned in an interview with CNBC on August 20 that further sanctions following maritime blockades would serve as a "one-two punch" against Iran, indicating that the "harshest sanctions in history" would be announced on August 24. He reiterated this in an interview with the Financial Times, stating, "Iran's economic D-Day is coming."Meanwhile, Iranian President Masoud Pezeshkian, viewed as a moderate, suggested the possibility of a ceasefire during a meeting with doctors on August 22, stating, "It is better to end the war now while we are in a position of strength and dignity." 2026-08-24 10:16:10
  • Korean Chamber of Commerce to Host 3rd Social Value Festa Next Month
    Korean Chamber of Commerce to Host 3rd Social Value Festa Next Month The Korean Chamber of Commerce announced that the 3rd Social Value Festa will take place from September 21 to 22, allowing attendees to directly experience solutions to social issues.The event will be held at COEX Hall A in Seoul, with pre-registration for attendees starting today. This year's theme is "From Thought to Action, From Problems to Solutions." The number of participating companies and organizations has significantly increased to over 400, with an expected attendance of more than 15,000 people, including government officials, academia, civil society, and the general public.The Social Value Festa serves as a platform for industry professionals, citizens, and youth to broaden their understanding of social value and promote practical engagement. A survey conducted last year among 3,737 attendees revealed that 41.3% were general citizens, with 62.1% of respondents aged between 20 and 30.This year's event will be divided into four areas: Collaboration, Innovation & Environment, Community, and Society. Each area will showcase various content related to social value, including regional balanced development, youth employment, and education. Additionally, there will be sessions, special programs, a social value film festival, T1 talk shows, docent tours, and a marketplace with food and beverage zones.In the Innovation & Environment area, companies such as SK Hynix, SK Telecom, LG Chem, and POSCO will participate. SK Hynix will conduct an experiential program themed "Sustainable Coexistence of Humans and AI," while SK Telecom will showcase content titled "AI for Everyone," covering topics from caregiving to talent development.In the Society area, companies like Hyundai Marine & Fire Insurance, Lotte Department Store, the Korea Central Volunteer Center, and S-Oil will participate. Hyundai Marine & Fire Insurance plans to unveil "Project Trailmark," a project that records youth social innovation experiences as capability data and connects them to the job market.Public institutions will join the Community area. Korea Railroad Corporation (KORAIL), Korea Railroad Agency, KORAIL Distribution, and the Korea Railroad Technology Research Institute will present a collaborative model between railway organizations and social enterprises, while the Korea Tourism Organization will propose a workation program, which has gained attention as a solution to regional extinction crises.Signature programs that encourage attendee participation will also be held. During the two-day festival, over 40 sessions and 20 special programs will take place simultaneously on the main stage, two independent stages, and in conference rooms, with most accessible through pre-registration at no additional cost.Cho Young-jun, head of the Sustainable Management Center at the Korean Chamber of Commerce, stated, "Solving social issues is no longer the responsibility of just a few companies or experts; it is an area where every citizen can participate. This year's festival is designed to ensure that attendees move beyond mere awareness of issues to become part of the solution through experience, consumption, and participation."Pre-registration is available for free on the official website of the Social Value Festa, with the registration period open until September 18. Attendees who register in advance will be able to enter the venue directly using a QR code without waiting.Since its inception, the Social Value Festa has rapidly expanded in scale. The inaugural event in 2024 featured over 200 participating organizations and companies from the corporate, government, and academic sectors, with more than 130 exhibition booths. Last year, the number of participating companies grew to over 300, with 280 exhibition booths, attracting around 10,000 citizens and students to the venue.* This article has been translated by AI. 2026-08-24 10:16:00
  • KB Financial Group Launches Campaign Video on the History of the Ukishima Maru
    KB Financial Group Launches Campaign Video on the History of the Ukishima Maru KB Financial Group released a second campaign video on August 24, coinciding with the anniversary of the Ukishima Maru sinking, featuring local voices from Maizuru, Kyoto Prefecture, Japan.On this day, KB Financial announced the launch of the video titled 'The History Remembered by Maizuru,' created in collaboration with Professor Seo Kyung-duk of Sungshin Women's University. This follows the release of 'Ukishima Maru, the Story We Remember' in June.The Ukishima Maru incident occurred on August 24, 1945, shortly after Korea's liberation, when the ship, carrying forced laborers, sank near Maizuru, Japan.The video features Professor Seo visiting Maizuru to explore the accident site, memorial facilities, and the Maizuru Salvage Memorial Hall. It also includes stories from local officials who have been commemorating the victims of the Ukishima Maru.KB Financial plans to visit Yutenji in Tokyo, Japan, in November to further highlight the remains of the victims and the ongoing challenges in the repatriation process. They also intend to produce and distribute a bilingual guidebook in Korean and Japanese about the Ukishima Maru incident.A representative from KB Financial stated, 'We will continue to foster public interest and support to ensure that the remains in Japan can return home as soon as possible.'* This article has been translated by AI. 2026-08-24 10:12:00
  • Samsung Electronics slumps, SK hynix rises after record payout
    Samsung Electronics slumps, SK hynix rises after record payout SEOUL, August 24 (AJP) - Samsung Electronics fell almost 6 percent at Monday's open as investors sold into the largest shareholder return package a Korean company has ever approved, dragging the KOSPI down while the rest of the market climbed. The index shed 76.68 points to 6,836.27, a fall of 1.1 percent. The drag was almost entirely one stock. SK hynix rose 1.4 percent, the junior KOSDAQ market gained 1.5 percent, and shipping and non-ferrous metal shares led broad advances across the main board. Samsung Electronics traded at 265,000 won, down 16,500 won ($192). The company's board approved a 2026 shareholder return of roughly 90 trillion to 110 trillion won, or 65 billion to 80 billion dollars, after Friday's close. It is about five times the previous domestic record of 20.3 trillion won set in 2020. Samsung said it would begin with a cash dividend of about 30 trillion won, some 22 billion dollars, in the third quarter, and separately approved 15 trillion won of share purchases for employee compensation. The size was not the problem. Everything beyond the third-quarter dividend stays undefined until the board meets again in January, once full-year results are fixed. Traders read that gap against SK hynix, which has already committed to returning more than half of its free cash flow over the next three years and had announced 40 trillion won of buybacks and cancellations. Samsung set out no comparable forward policy. SK hynix traded at 1,754,000 won, or about $1,270, up 24,000 won. The selling ran through the wider Samsung complex, where the payout had been the trade. Samsung Life Insurance, the electronics maker's largest shareholder, dropped 8.2 percent to 301,500 won, or about $218. Samsung C&T fell 7.2 percent to 367,000 won, roughly $266. Both hold stakes that would have collected a share of the dividend. Foreign investors sold a net 902.6 billion won of KOSPI shares in the opening stretch, and institutions sold 299.5 billion won. Individuals bought 974.7 billion won. The KOSDAQ traded at 813.74, up 11.80 points. In Tokyo, the Nikkei 225 stood at 65,903.48, down 0.2 percent. The won traded at 1,381.40 per dollar, stronger than Friday. 2026-08-24 10:11:47
  • Illegal weight-loss drug imports surge in Korea H1
    Illegal weight-loss drug imports surge in Korea H1 SEOUL, August 24 (AJP) - The number of illegal imports of the weight-loss drugs Wegovy and Mounjaro seized by South Korean customs authorities jumped more than threefold in the first half of 2026, driven by a wave of individual online purchases shipped through the international postal system. Customs officials caught 4,155 attempts to smuggle in obesity treatments, including Mounjaro and Wegovy, between January and June, the Korea Customs Service said Monday. The tally is about 3.5 times the 1,189 cases recorded for all of last year. Seizures have climbed steeply since the two drugs launched in South Korea, rising from just four cases in 2024 to 1,189 in 2025 and topping 4,000 in the first six months of this year alone. Cumulative seizures from 2024 through June reached 5,348, dwarfing the 596 shipments that cleared customs through licensed importers over the same period. Postal seizures soared from two cases in 2024 to 1,046 last year and 3,489 in the first half of 2026, accounting for 84.8 percent of all cases as buyers increasingly ordered the drugs from overseas websites for direct delivery. Interceptions of travelers' personal effects also rose sharply, reaching 656 cases, while express-cargo seizures remained negligible Ordinary medicines may be brought in for personal use within set limits, but Mounjaro and Wegovy are designated hazardous drugs by the Ministry of Food and Drug Safety and cannot enter the country without a waiver certificate. Customs blocks them regardless of quantity and destroys any that surface at the border. The agency said it would rigorously choke off the flow of hazardous drugs at the border. AJP Takeaways The Korea Customs Service reported 4,155 attempts to illegally import Wegovy and Mounjaro in the first half of 2026, already exceeding the full-year figure for 2025. International postal shipments made up 84.8% of the seized cases, as buyers ordered the drugs from overseas websites for direct delivery. The Ministry of Food and Drug Safety classifies Wegovy and Mounjaro as hazardous drugs, meaning customs blocks and destroys them at the border regardless of quantity. 2026-08-24 10:08:11
  • Election Commission Special Prosecutor Opens Temporary Office to Begin Investigations
    Election Commission Special Prosecutor Opens Temporary Office to Begin Investigations The special prosecutor investigating allegations of ballot shortages in the June 3 local elections opened a temporary office on August 24. The Election Commission Special Prosecutor announced that it has established its temporary office in the The Base Seocho building in Seocho-gu, Seoul, and plans to begin operations in the afternoon with the special prosecutor and special investigators. The office will occupy nine floors from the 7th to the 15th of the 15-story building. Appointed on August 18, the special prosecutor will spend up to 20 days preparing for the investigation. During this period, it is expected to finalize the appointments of deputy special prosecutors and begin forming the main investigation team. According to the Election Commission Special Prosecutor Act, the special prosecutor can assemble a team of up to 165 members, including five deputy special prosecutors, 70 special investigators, and up to 20 dispatched prosecutors and 70 dispatched public officials. Following the completion of appointments, the main investigation is expected to commence in early September. The special prosecutor is authorized to conduct investigations for 90 days, with the possibility of extending the period by two additional 30-day increments, allowing for a maximum of 150 days of investigation. The investigation will focus on 12 allegations, including: 1) violations of voting rights due to ballot shortages; 2) manipulation of election statistics, including voter turnout; 3) management issues related to essential election materials, such as ballot storage boxes; and 4) misconduct allegations involving current and former members and staff of the Election Commission, including overseas trips and preferential contracts related to their duties, among other incidents identified during the investigation process.* This article has been translated by AI. 2026-08-24 10:08:00
  • Gunpo Uiwang Offers 1:1 Customized College Admission Consulting for 270 Students
    Gunpo Uiwang Offers 1:1 Customized College Admission Consulting for 270 Students The Gunpo Uiwang Education Support Office launched a customized college admission consulting program on August 22, aimed at assisting students with career and college planning in line with the high school credit system and the 2022 revised curriculum. According to the office, the program took place at the Gunpo High School gymnasium, serving 270 students from local middle schools and first and second-year high school students through the '2026 Gunpo Uiwang High School Credit System-Based 1:1 Customized College Admission Consulting.' This initiative was designed to address students' and parents' questions regarding the changing high school curriculum and college admission landscape, providing specific guidance tailored to each student's career aspirations and academic level. Consultants included leading teachers in college admission guidance from Gunpo Uiwang and Gyeonggi Province, who conducted in-depth consultations at 30 different booths. Prior to the consultations, students' school records and mock exam scores were analyzed to ensure personalized advice that considered their academic achievements and career interests. Key topics covered in the consultations included: analysis of potential colleges based on current grades, strategies for college applications, course selection under the high school credit system, and exploration of colleges and majors aligned with students' career goals. Particularly for third-year middle school students, the consultations focused on how course selection and academic planning in high school would connect to future college admissions, helping them visualize their career and learning paths before starting high school. Participating students and parents expressed positive feedback, noting the personalized nature of the consultations based on individual grades and school experiences, as well as the ability to connect course selection under the high school credit system to college admissions. One student remarked, "I often felt uncertain about what criteria to use when choosing a college or major, but reviewing my current grades and desired career path helped me think about which subjects to choose and how to prepare moving forward." Parents also commented, "It’s not easy for parents to grasp the changing college admission system, but receiving explanations based on the student’s actual school life and grades made it easier to understand. It was helpful to consult directly with teachers who have real experience in college guidance rather than relying on private education counseling." Jeong Suk-kyung, the education director, stated, "With the changes in the high school credit system and college admission processes, the demand for diverse admission information from students and parents is increasing." She added, "We will continue to strengthen personalized admission support considering each student's career and academic capabilities, and provide accurate college admission information to help students proactively design their career paths and futures."* This article has been translated by AI. 2026-08-24 10:08:00