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Busan Council Chair Kang Moo-gil Focuses on Marine Capital Development and Job Creation Kang Moo-gil, Chair of the Busan City Council, has identified the relocation of HMM's core functions to Busan and the construction of a second runway at Gadeokdo Airport as key tasks to be accomplished during the 10th council's term.Despite the current political landscape of a divided council, he aims to demonstrate the council's value through tangible achievements in transforming Busan into a marine capital. Marine and New Airport Special Committee: "Driving HMM's Core Functions and Adding Another Runway"On the two-month anniversary of his inauguration, Chair Kang outlined the specific missions of the three special committees established by the 10th council.Regarding the Marine and New Airport Development Special Committee, he stated, "We will drive HMM, which has declared the Busan era, to relocate its core functions, attract additional shipping companies, and push for the construction of a second runway at Gadeokdo Airport."The Special Committee for Attracting Businesses and Revitalizing Industrial Complexes will target both aging industrial complexes and new high-tech industrial zones. Kang emphasized, "We will tighten our efforts to enhance the competitiveness of aging industrial complexes while accelerating the attraction of excellent companies and public institutions to the Centum City 2 area and the 53rd Division, which are set for significant development."As for the Special Committee for the Development of Busan-Ulsan-Gyeongnam, he remarked, "We will review cooperative projects between Busan, Ulsan, and Gyeongnam in line with the national balanced development strategy and accelerate the establishment of a super-regional economic zone in the southeastern region.""74.5% of High-Quality Jobs Are Concentrated in the Capital Region"... Wage Levels in Busan at 87 Compared to 100 in the Capital RegionKang's emphasis on industry and business attraction stems from the stark job disparity between the capital region and Busan. He noted that 74.5% of the top 20% of jobs preferred by college graduates are concentrated in the capital region, and when the capital region's wages are set at 100, Busan's relative wage level stands at 87.Demographic indicators are even more telling. The youth population in Busan, aged 20 to 39, has decreased from 1.017 million in 2011 to 773,000 in 2026, a drop of 240,000 over 15 years. In contrast, the proportion of the elderly population reached 25.4% as of January this year, surpassing that of Seoul (20.5%), Incheon (19.0%), and Daegu (22.2%), making it the highest in the country.With both youth outflow and aging occurring simultaneously, attracting businesses alone will not change the region's demographic structure. The key issue is creating a wage and industrial ecosystem that allows young people to choose careers and settle in Busan.In response, Kang stated, "Busan must leverage its strengths in marine and logistics to cultivate new growth engines in finance, semiconductors, bio, and content, creating a virtuous cycle of high-wage job creation. We need to accelerate infrastructure projects like Gadeokdo Airport, North Port redevelopment, and Centum City 2 while also establishing a legal and institutional framework suitable for a global hub city through regulatory relaxation and tax support."However, Kang clarified that future industrial strategies cannot replace immediate livelihood concerns. He stressed, "No matter how rosy the future blueprint may be, it is of no use if citizens' lives are collapsing right now," underscoring the urgency of restoring the local economy.To this end, he plans to hold regular 'on-site livelihood meetings' and enhance 'economic policy discussion forums' in collaboration with the local business community. Kang expressed his commitment to ensuring that the voices of self-employed individuals, small business owners, and local enterprises become central to the administration and serve as a compass for policy direction.Leading a divided council politically is also a significant challenge. The 10th Busan City Council has adopted the slogan, 'Only Citizen Happiness! Only Busan Development! A Dynamic Council of Cooperation and Oversight.' While collaborating on major issues requiring cooperation with the Busan City government, the council aims to maintain its fundamental role of reviewing and monitoring budgets and policies.Kang stated, "Both the city council and the Busan City government share the same goal of citizen happiness and Busan's development," but he firmly asserted, "We will not be hindered by the necessity of cooperation."In conclusion, he remarked, "Busan is now standing at the threshold of a great leap forward," pledging to push forward with the construction of Gadeokdo Airport, North Port redevelopment, future industry development, and the transformation into a marine capital, ensuring that these efforts yield tangible results for the citizens.* This article has been translated by AI. 2026-08-21 16:08:00 -
Appsolix Secures $400 Million in Capital Increase for Glass Substrate Commercialization Appsolix, an investment firm for SKC's glass substrate business, is set to raise approximately 400 billion won through a capital increase. On August 21, SKC announced that Appsolix has decided to conduct a rights offering to secure the necessary funds for the commercialization of glass substrates. The funds will be primarily allocated to evaluating glass substrates and certifying customer requirements. Additionally, Appsolix plans to upgrade some equipment and facilities to improve overall production yield and quality. Based on this, Appsolix aims to accelerate its two-track strategy for the commercialization of both embedding and non-embedding products. The embedding products have successfully completed preliminary evaluations, including electrical property verification of samples produced at the Georgia plant in the United States, and are now entering reliability assessments. The non-embedding products are also participating in a project with supplier selection expected in the second half of this year, preparing for technology validation (PoC) based on the final selection results. Moving forward, Appsolix plans to continue additional investments in line with customer evaluations and milestone achievements. The company will focus on reliably meeting the quality standards required by customers and will consider further large-scale expansion investments based on this foundation. An SKC official stated, "Through this proactive funding, we will ensure the smooth commercialization of Appsolix's glass substrates and accelerate preparations for mass production. We will continue to solidify our overwhelming technological leadership in the next-generation semiconductor packaging market through close collaboration with strategic partners." Appsolix is a U.S. investment firm established by SKC for the glass substrate business and has built the world's first dedicated glass substrate factory in Georgia. Currently, SKC holds a 70.05% stake in Appsolix, while Applied Materials (AMAT) owns 29.95%.* This article has been translated by AI. 2026-08-21 16:08:00
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BOYNEXTDOOR opens 13-show Japan run with new single SEOUL, August 21 (AJP) - The Japan leg of K-pop boy band BOYNEXTDOOR's first world tour opens Friday at K-Arena Yokohama, the start of a three-night run that carries the six-member group through 13 shows in six cities into October. Last year, the group played six Japanese cities across 13 dates, but in concert halls seating a few thousand, venues such as Pacifico Yokohama and Fukuoka Sunpalace. Every date sold out. This year, the same city count runs through arenas, starting with K-Arena Yokohama and taking in Osaka-jo Hall in September. After Yokohama, the tour moves to Saga on Aug. 29 and 30, Osaka on Sept. 9 and 10, Miyagi on Sept. 19 and 20, Nagano on Sept. 25 and 26, and Chiba on Oct. 10 and 11. The Saga show on Aug. 29 will be screened live in cinemas worldwide. The Yokohama shows carry the first tour performance of "Boom Boom Boom," the group's second Japanese digital single, released Aug. 18. The song had its first live airing the night before on TBS's music program "CDTV Live! Live!" KOZ Entertainment said the track entered LINE Music's real-time song chart and reached No. 6 on the iTunes Japan top songs chart as of midnight on Aug. 19, and came in at No. 5 on Oricon's daily digital singles ranking dated Aug. 18. Both of the group's Japanese singles have been certified platinum by the Recording Industry Association of Japan. BOYNEXTDOOR, made up of Sungho, Riwoo, Jaehyun, Taesan, Leehan and Woonhak, debuted in May 2023 as the first idol group launched by KOZ Entertainment, the label founded by the rapper Zico, who produces the group himself. KOZ operates under HYBE, the company that also houses BTS. The tour opened in Seoul from July 17 to 19 at KSPO DOME, where the group played to about 31,800 people over three nights, then moved to Busan for three days at Sajik Arena from July 31 to Aug. 2. "We are glad to show how much we have grown," the members said in a statement released through KOZ Entertainment ahead of the Yokohama opening. Between the Japanese dates, the group returns to Korean promotion. A repackaged edition of HOME, its first studio album, released in June, arrives Sept. 28, with domestic activity through October before the Chiba shows close out the Japan leg. Knock On Vol.2 runs 34 shows in 24 cities, including a North American leg from late October and a final Asian stretch, and ends in Bangkok on Jan. 30, 2027. 2026-08-21 16:05:38 -
EcoProBM CEO Kim Jang-woo: Capital Raise Expected to Reach 900 Billion Won Kim Jang-woo, CEO of EcoProBM, announced on August 21 that the company expects to raise around 900 billion won through a capital increase, a reduction of approximately 300 billion won from the initial plan due to falling stock prices. During a shareholder meeting held at NH Investment & Securities in Yeouido, Seoul, Kim apologized for the decline in stock prices, acknowledging shareholders' concerns while expressing commitment to secure additional funding from external sources to continue planned growth investments.At the meeting, Kim stated, "The recent stock performance has not met expectations, and I apologize for not being able to reward our shareholders." This gathering was organized to address shareholder inquiries regarding the capital increase following a previous meeting on July 16. EcoProBM's board of directors had decided on June 30 to proceed with a capital increase of 1.2 trillion won through a rights offering and public offering of any unsubscribed shares, with approximately 9.9 million shares to be issued at a 20% discount for existing shareholders.However, the stock price has continued to decline since the announcement, leading to a forecast that the actual amount raised will fall short of the target. Kim explained, "At the time of the board's resolution, the average stock price was about 150,000 won, and assuming a 20% discount, the calculated amount was 1.2 trillion won. Now, with the stock price significantly lower, the actual amount raised may decrease by about 300 billion won from the original plan."Despite the reduced capital raise, the company plans to proceed with its growth investments. Kim emphasized, "A capital increase is not the only way for the company to secure funds. We will prepare to raise the shortfall through various other sources over sufficient time."Of the approximately 1.2 trillion won to be raised through the capital increase, EcoProBM plans to allocate 765 billion won for acquiring a stake in the BNSI nickel refinery in Indonesia, 150 billion won for investment in its Hungarian production subsidiary, 150 billion won for production facility adjustments, automation, and next-generation material development, and the remaining 135 billion won for operational funds, including raw material purchases.The BNSI nickel refinery in Indonesia aims to begin trial operations in the fourth quarter of this year, with commercial operations targeted for the second quarter of next year, boasting an annual production capacity of about 90,000 tons. The company anticipates achieving a double-digit operating profit margin once it reaches normal operations.Additional investments in the Hungarian factory will also continue. The current production line, focused on NCA, will be modified to also produce NCM, with plans for capacity expansion and automation investments. The Hungarian plant, which began operations in June, is set to launch its second line in September, with the company aiming for a return to profitability in the fourth quarter.Based on these growth investments, EcoProBM aims to increase its sales of cathode materials from approximately 70,000 tons last year to 230,000 tons by 2030. The company has also set a long-term goal of achieving 10 trillion won in revenue and over 1 trillion won in operating profit during the same period.Kim reiterated, "It is our fundamental duty to deliver results that significantly increase the stock price and provide substantial returns to our investors. We will diligently pursue growth investments to repay our shareholders' support."* This article has been translated by AI. 2026-08-21 16:04:00
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Samsung Electronics Enhances Human-Centered Design Competitiveness, Wins Multiple Awards Samsung Electronics is strengthening its design competitiveness by integrating accessibility, personalization, and AI beyond product aesthetics. The company is expanding its design approach to connect user experience with future technologies, as evidenced by its recent award wins.On August 21, Samsung announced that it received a total of 45 awards at the 'IDEA 2026,' including one Impact Award. Additionally, it secured 12 awards in the brand and communication category at the 'Red Dot Design Award 2026,' bringing the total to 57 awards across both competitions.At IDEA, the 'Accessibility Design for Home Appliances' received the newly established Impact Award. This design allows users to adjust the operation of home appliances based on visual, auditory, mobility, and cognitive characteristics. Features such as voice guidance, easy-use modes, and automatic door opening have been incorporated.Designs reflecting AI and sustainability were also among the award winners. The AI-based design solution 'AIDC' and a smartphone packaging concept utilizing recycled paper received bronze awards.At the Red Dot Awards, the Galaxy S26 Ultra's 'Privacy Display' won the highest honor, 'Best of the Best.' This feature allows for clear viewing from the front while obscuring screen content from the sides.This recognition signifies Samsung's shift in design from merely determining product form to implementing technology elements that enhance accessibility, AI, and personalized user experiences.Samsung plans to expand designs that reflect diverse user needs across its mobile, TV, and home appliance sectors while enhancing personalized experiences through AI and digital technologies.* This article has been translated by AI. 2026-08-21 16:00:20
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Hugel Approves Shareholder Meeting Agenda for Stock Management and Governance Hugel has successfully passed agenda items related to stock management and governance at its extraordinary shareholders' meeting.On August 21, Hugel held the meeting at Elysian Gangchon in Chuncheon, Gangwon Province, where it approved three agenda items: a plan for stock retention and disposal, the appointment of an independent director to the audit committee, and the approval of stock options.The key focus of this meeting was the utilization of treasury stock in line with the revised Commercial Act. Hugel plans to use its treasury shares as a resource for employee performance compensation, including stock options and restricted stock units (RSUs), to secure key talent. The approval of the stock option agenda on the same day also established a foundation for the performance compensation system.Another notable agenda item was the appointment of directors to improve governance. The revised Commercial Act, effective in September, mandates that at least two independent directors serving on the audit committee be elected separately from other directors. Accordingly, Patrick Holt voluntarily stepped down from his existing director position to be re-elected as an independent director on the audit committee.CEO Jang Doo-hyun stated, "We will continue transparent and responsible management through rational utilization of treasury stock and governance improvements in line with the revised Commercial Act."Meanwhile, Hugel reported record earnings for the first half of the year, with sales of 254.5 billion won and an operating profit of 103.7 billion won, marking increases of 27.2% and 8.4%, respectively, compared to the same period last year. In the second quarter, sales rose by 25.1% to 137.9 billion won.The company is also actively pursuing global expansion. Hugel's cosmetic brand Wellage has officially entered U.S. Sephora stores. According to the company, as of August 20 (local time), Wellage's 'Real Hyaluronic' line has begun selling at the Olive Young K-Beauty Edit display in U.S. Sephora locations.Hugel plans to expand its presence with its flagship product line in the U.S. market.* This article has been translated by AI. 2026-08-21 16:00:00
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Korean National Assembly Speaker Meets U.S. Ambassador, Discusses Strengthening Ties On August 21, Cho Jung-sik, Speaker of the National Assembly, met with Michelle Steel, the U.S. Ambassador to South Korea, and stated, "If a U.S.-Korea Congressional Alliance is established, it will greatly benefit the relationship between our two countries." He emphasized the need for a similar exchange group in the U.S. Congress to enhance legislative cooperation.Ambassador Steel also highlighted the importance of the U.S.-Korea alliance, expressing her willingness to help, saying, "If I can contribute, I would like to actively assist."During their meeting at the National Assembly, Cho noted, "The National Assembly of the Republic of Korea has a U.S.-Korea Congressional Alliance with 161 members from both ruling and opposition parties, and I have served as co-chair. It would be beneficial for the U.S. Congress to have a similar group, but there is currently no suitable counterpart." He further mentioned Steel's previous involvement in U.S.-Korea legislative exchanges during her time as a member of the House of Representatives, adding, "If a U.S.-Korea Congressional Alliance is formed in the U.S. Congress, it will provide greater support for our bilateral relationship."In response, Steel remarked, "Reviving our relationship is extremely important," and emphasized that communication among lawmakers and at the congressional level is crucial. She acknowledged her experience working in the National Assembly, stating, "I understand how important it is to shape foreign policy and international relations," and stressed the significance of legislative diplomacy given the longstanding 73-year tradition of the U.S.-Korea alliance.Steel served as a U.S. House Representative from 2021 to 2025 and was appointed as U.S. Ambassador to South Korea on July 30 after being nominated by President Donald Trump in April and confirmed by the Senate in June. 2026-08-21 15:56:00
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President Lee Appoints Park Jeong-seong as Head of Trade Negotiation Office President Lee Jae-myung has appointed Park Jeong-seong, the Deputy Minister of Trade, as the new head of the Trade Negotiation Office at the Ministry of Trade, Industry and Energy. Choi Yong-cheol, the Deputy Chief of the Fire Agency, has been named the new Fire Chief.Blue House spokesperson Kang Yu-jeong announced in a written briefing on the afternoon of August 21 that President Lee made these appointments.Park, born in 1972, graduated from Kyungwon High School and Seoul National University with a degree in economics. He has nearly 30 years of experience in key positions related to trade and trade policy, including serving as the Director of the Trade and Investment Bureau and Deputy Minister of Trade.Kang described Park as someone who has overseen practical aspects of tariff and investment negotiations with the U.S., making him well-suited to maintain continuity in negotiations amid urgent trade issues with the U.S. She expressed confidence that Park would navigate complex trade matters with a sophisticated negotiation strategy, drawing on his experience as co-chair of the World Trade Organization (WTO) investment facilitation negotiations and as the lead representative for the U.S. tariff negotiation task force.The appointment of Park comes after the dismissal of former Trade Negotiation Office head Yeo Han-goo, indicating a move to ensure continuity in trade policy.Choi, the new Fire Chief, is a fire expert with 27 years of experience in both frontline rescue operations and key policy departments. He has previously served as the acting head of the Gyeonggi Province Fire and Disaster Headquarters and as the Deputy Chief of the Fire Agency.Kang praised Choi for his exceptional field command skills, strong work ethic, and extensive administrative experience, noting his high regard within the Fire Agency for his rational leadership that fosters communication and unity.She added that Choi is expected to establish a thorough disaster prevention and response system in line with the government's goal of prioritizing the safety and lives of citizens across all areas of governance.* This article has been translated by AI. 2026-08-21 15:52:00
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BIGBANG returns as trio for first stadium tour in 9 years SEOUL, August 21 (AJP) - Nine years after its last full tour, BIGBANG opens a 20th anniversary world tour Friday at Goyang Stadium northwest of Seoul, the first concert run in the group's history with three members on stage instead of five. The Goyang shows run three nights through Sunday and are sold out, including seats released later with restricted views. General ticketing drew roughly 210,000 people into the online queue at once, the heaviest demand for any single concert or festival sale in South Korea this year. Domestic tickets were sold exclusively through Coupang Play, which is also the presenting sponsor. BIGBANG debuted on Aug. 19, 2006, and spent the following decade as one of the defining acts of K-pop's second generation, with hits including "Lies," "Haru Haru" and "Bang Bang Bang." The lineup narrowed to three, G-Dragon, Taeyang and Daesung, after the departures of Seungri and T.O.P. The group's last full touring cycle ended with the Last Dance tour in 2017. Friday's show also carries the first live performance of "BiiiG," a digital single released on Aug. 19, the exact date of the group's 20th anniversary. It is BIGBANG's first release in four years and four months, since "Still Life" in April 2022. G-Dragon wrote and composed the track, a high-energy hip-hop song built on a heavy beat and a repeating hook. The set list mixes those older hits with solo segments for each member. All three took part in building the show, working on the song order, the stage design and the direction. The production leans heavily on overseas talent. A live band led by Wow Jones, who has worked with Usher, Post Malone and Rihanna, plays every song. Mike Carson, who directed the 2025 Super Bowl halftime show, and Es Devlin, who designed the stage for the 2012 London Olympics closing ceremony, both worked on the staging. The centerpiece is a 23-ton moving LED structure that uses multi-motor torque synchronization to shift position during the show. The tour title, "XX : COSMOS," gave the group a theme to build promotions around. BIGBANG filmed a collaboration with a Korean science YouTube channel on the physics of the actual big bang, and the Korea AeroSpace Administration named the three its first honorary ambassadors. A fan event on the Han River, a lighting show around Jamsil and a media exhibition in central Seoul filled out the run-up. G-Dragon announced the tour himself in April, from the stage at the Coachella Valley Music and Arts Festival, where BIGBANG performed a roughly hour-long set. After Goyang, the tour moves through 19 cities and 33 shows across North America, Europe, Oceania and Asia, including Auckland, Paris, London, Sydney, Tokyo and Jakarta. YG Entertainment said more dates and locations will be announced, so the final count may grow. Demand outside South Korea has followed a similar pattern, with the Auckland date selling out in 30 minutes and a second show added. "BiiiG" reached No. 1 on iTunes song charts in 24 regions and hit No. 2 on the worldwide song chart, according to YG Entertainment. At home it went to No. 1 on Melon's TOP100 one hour after release, on a chart that combines 24-hour listening data with the most recent hour, and set this year's record on the platform for the most listeners in a song's first hour. 2026-08-21 15:48:38 -
LIG D&A Denies Bribery Allegations Linked to Electronics Project LIG Defense and Aerospace (LIG D&A) has firmly stated that it is "clearly unrelated" to the bribery allegations involving its employees in connection with a 2 trillion won electronic systems development project.On August 21, LIG D&A explained that "the public official involved did not participate as an evaluator in the assessment of this electronic systems project" and expressed regret over the indictment of its employees, emphasizing that the electronic systems project was selected through a fair evaluation process with a significant score difference.The company further asserted that claims suggesting the public official's involvement in related projects are unfounded and unrelated to the core technological elements of the electronic systems development. They described the project as a highly complex national task that significantly enhances the survival capabilities of the Republic of Korea Air Force, urging against undermining the dedication and efforts required to complete advanced military capabilities.LIG D&A also expressed hope that legal proceedings will clarify the facts and resolve the allegations, stating that they will actively cooperate if necessary. The company committed to strengthening its advanced defense R&D capabilities while working towards establishing a transparent and fair compliance system that meets public expectations.Meanwhile, the Suwon District Prosecutors' Office has recently indicted a level 5 public official from the Defense Acquisition Program Administration (DAPA) on charges of bribery under the Act on the Aggravated Punishment of Specific Crimes, along with an executive from LIG D&A on bribery charges.According to prosecutors, the DAPA official is accused of participating as an evaluator for six defense project proposals worth a total of 91.5 billion won from late 2021 to late last year, allegedly giving favorable scores to LIG D&A. It is believed that the official received 320 million won and a recommendation for a subcontractor service contract worth 2.2 billion won in return.Notably, among the six projects suspected of receiving preferential treatment, three are known to be core technologies for the 1.7 trillion won 'Korean Electronic Systems R&D Project' that LIG D&A secured in December of last year, placing them at the center of the controversy.* This article has been translated by AI. 2026-08-21 15:44:00