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  • Kim Yong-pil to Launch U.S. Career with NOM.NOM.NOM SHOW After Concert in Busan
    Kim Yong-pil to Launch U.S. Career with 'NOM.NOM.NOM SHOW' After Concert in Busan 가수 김용필이 활기 넘치는 9월을 예고했다. 오는 12~13일 부산 단독콘서트를 마치자마자 미국으로 출국, 25~26일 로스앤젤레스에서 열리는 ‘놈놈놈 쇼(NOM.NOM.NOM SHOW)’ 무대에 선다.먼저 김용필은 9월 12일과 13일 오후 4시 부산 소향씨어터 우리은행홀에서 ‘2026 김용필 콘서트 뷰티풀 라이프 - 부산’을 개최한다. 지난 4월 서울 이화여대 삼성홀에서 열린 첫 단독콘서트에서 시도한 국내 최초의 뮤직드라마 형식의 콘서트가 호평을 얻은 결과다.당시 김용필은 장기 공연 중인 연극 ‘뷰티풀 라이프’를 음악 무대에 접목시켜 새로운 형식의 콘서트를 선보였다. 발로 뛰어 연극 관계자들을 만나고 직접 콘서트 전체를 기획, 실행하면서 공연 프로듀서로서의 면모를 인정받았다.앞서 2023년 3월에 종료한 TV조선 ‘미스터 트롯2’에서 김용필은 선배 가수 최백호의 노래 ‘낭만에 대하여’를 자신만의 해석으로 불러 주목받았다. 팬들의 뜨거운 성원 속에 본업을 아나운서에서 가수로 바꾼 김용필은 3년간 소속 가수로서 다양한 예능에서 활약했고, 이후 홀로서기에 나섰다.새로운 소속사에 둥지를 틀기 전, 늦깎이 가수인 만큼 아티스트로서의 역량을 탄탄히 다지고자 김용필은 알찬 시간을 보냈다. 한 곡 한 곡 작사, 작곡가를 찾아다니며 완성한 1집 정규 앨범 ‘사계’를 발매했고, 인생의 사계절을 담은 노래들을 잘 담아낼 첫 번째 단독콘서트를 고심하다가 연극과의 콜라보레이션을 구상해 무대를 완성했다.이러한 가수 김용필의 ‘음악에 진심’이 서울 공연 이후 5개월 만에 다시 부산에서의 첫 번째 앵콜쇼로 이어진 것이다. 김용필은 ‘러브콜’에 대한 보답으로 ‘포도밭에서’ ‘귀소본능’ ‘나와 같이 늙어가 주오’ 등 자신의 대표곡에 더해 부산을 주제로 한 다양한 레퍼토리를 준비했다. 호소력 짙은 감성 가창력으로 관객들에게 진한 감동을 선사했던 지난 서울 공연에서 김용필의 코믹 연기력과 일취월장 성장한 댄스 무대 역시 화제가 됐던 만큼 부산 관객들의 반응에도 귀추가 주목된다.‘낭만에 대하여’에 이어 자신의 노래 ‘낭만연가’까지 팬들의 큰 사랑을 받으며 ‘낭만가객’이라는 수식어를 갖게 된 김용필은 9월 말 미국 공연에 ‘젠틀한 놈’으로 초청됐다. 호랑이 심사위원이자 실력파 프로듀서인 박선주가 총괄 기획한 ‘놈놈놈쇼’에는 ‘낭만 있게 젠틀한 놈’ 김용필 외에 ‘멋지고 잘생긴 놈’ 장민호, ‘뭐든지 잘하는 놈’ 천록담, ‘뛰는 놈 위에 나는 놈’ 나태주가 함께한다.현지 시간으로 9월 25일과 26일 로스앤젤레스 공연장에서 열리는 ‘놈놈놈쇼’에 대한 미국 현지의 관심도 뜨겁다. K-트롯을 대표하는 4명의 스타가 미국에서 공연한다는 소식이 지난 13일 뉴욕 한복판 타임스퀘어 대형 전광판에 등장했다. 한국의 대표적 대중음악 장르인 트로트가 세계적 문화·관광의 중심지인 뉴욕에서 소개됐고, 김용필 장민호 천록담 나태주의 빛나는 얼굴이 대문짝만한 영상으로 상영됐다. K-트롯 장르의 글로벌 확장 가능성을 보여주는 상징적 시도다.미국에서 펼쳐질 프리미엄 디너쇼 ‘놈놈놈쇼’는 9월 한가위 LA 축제의 일환으로 총 3회 진행된다. 현지 공연 관계자는 “벌써 현지 교민뿐 아니라 K-컬처에 관심이 많은 글로벌 팬들 사이에서 화제가 되고 있다”면서 “이번 ‘놈놈놈쇼’는 단순한 콘서트가 아니라 라이브 K-트롯 퍼포먼스와 파인 다이닝, 럭셔리한 분위기가 완벽하게 조화된 공연으로 기획됐다”고 설명했다.이어 “주로 카지노 중심으로 이뤄지던 한국 가수 공연의 기존 흐름을 넘어, 5성급 호텔 그랜드볼룸에서 품격 높은 디너쇼 문화를 새롭게 제시하고자 한다. 다양한 세대가 함께 즐길 수 있는 프리미엄 사교·문화 플랫폼으로 자리 잡을 것”이라고 전망했다.미국을 시작으로 K-트롯의 매력을 알릴 4명의 ‘트롯 전도사’들은 화보 같은 포스터도 공개했다. 1970년대 뉴욕을 배경으로 한 뮤지컬 같은 분위기 속에서 명품 턱시도를 착장한 채 4인 4색의 매력을 발산했다. 촬영은 유네스코 지정 작가 지영빈 감독이 맡아 예술적 완성도를 높였다.버라이어티 지를 비롯해 현지 언론에 ‘낭만 있게 젠틀한 놈’이자 ‘훤칠하고 매력적인 놈’으로 소개된 김용필은 “이번 공연은 단순한 무대가 아니라, 트롯의 본질인 ‘한(恨)’과 ‘흥(興)’을 미국 프리미엄 관객들과 함께 나누는 자리입니다. 최고의 보이스와 퍼포먼스로 LA의 밤을 뜨겁게 달구겠습니다. 함께 웃고, 울고, 흥을 즐기셨으면 좋겠습니다”라고 포부를 밝혔다.다양한 장르의 노래를 소화하기로 정평이 난 김용필은 트로트 곡뿐만 아니라 현지 팬들을 위해 팝송과 재즈, 라틴 음악까지 맹연습 중이다.방송기자로 시작해 리포터, 아나운서까지 20년 방송인 활동에도 감춰지지 않았던 가수 김용필만의 젠틀한 흥과 감성적 끼가 부산에 이어 미국 LA까지 뒤흔들 9월이 다가오고 있다. 2026-08-21 12:44:00
  • Heerim and Geogwang Collaborate on Modular Construction Market
    Heerim and Geogwang Collaborate on Modular Construction Market Heerim Architecture and Geogwang Corporation are launching an integrated modular construction project that encompasses design, production, and quality control.On August 21, Heerim announced that it has signed a memorandum of understanding (MOU) with Geogwang to jointly pursue high-quality modular construction projects. The two companies plan to combine their core competencies to create a business model that connects product planning, design, production, and quality management in a cohesive manner.Under the agreement, Heerim will provide architectural planning, design, and quality management capabilities, while Geogwang will contribute its modular production technology and manufacturing infrastructure. The companies intend to establish a new corporation to pursue joint projects after further discussions on specific business conditions and internal reviews. Details regarding investment structure, management methods, and role distribution will be determined through separate negotiations.Heerim previously completed the 'Villa Mino' modular resort in Yangyang in February 2025 and has since expanded its modular business by securing a design project for modular housing in Hawaii. This collaboration aims to enhance business competitiveness by linking existing architectural planning and design capabilities to the production phase.Geogwang, which started as a window manufacturing company in 1984, has expanded its business scope to include eco-friendly construction products and services, such as building-integrated photovoltaics (BIPV) and modular buildings. In 2022, it launched the 'G-Modular' brand and obtained recognition for industrialized housing in 2026, qualifying it to supply residential modular units.Modular construction involves manufacturing key structural components and finishing materials in a factory before assembling them on-site. This method reduces on-site work, shortens construction time, and minimizes risks of accidents, labor shortages, construction waste, and environmental impact.The domestic modular market has primarily grown around public construction projects, such as schools and military facilities. The two companies plan to develop modular products that not only focus on economic viability and constructability but also emphasize product planning, design, quality, and completeness to expand into the private market.They aim to enhance the market competitiveness of modular construction by linking design and production from the initial product planning stage, considering both aesthetics and manufacturability.Meanwhile, Heerim was recently selected as the final winner in a competitive bidding process for the 'New Construction Design Competition for the Consulate General in Ho Chi Minh City,' despite the project budget being under 1 billion won.* This article has been translated by AI. 2026-08-21 12:24:00
  • Kakao Shares Plunge 11% Following Announcement of Corporate Split
    Kakao Shares Plunge 11% Following Announcement of Corporate Split Kakao's shares are experiencing a significant drop following news of its planned corporate split. Although existing shareholders will receive shares in both the newly established company and the parent company, investors appear to view the split as a potential burden on the company's value.As of 11:41 a.m. on the Korea Exchange, Kakao's stock was trading at 34,150 won, down 4,550 won (11.76%) from the previous trading day. The stock opened at 38,150 won and briefly fell to 33,600 won during the session.The sharp decline in stock price is attributed to deteriorating investor sentiment following the announcement of the corporate split.Earlier that day, Kakao's board of directors convened and resolved to split the company into Kakao AI (the new entity) and Kakao X (the parent company). The split will allocate shares of the new company to existing shareholders based on their ownership percentages.Kakao AI will focus on integrating AI, advertising, and commerce, centered around KakaoTalk, while Kakao X will encompass key subsidiaries in tech finance, content, and mobility, positioning itself as a 'future value investment company.'The split ratio was determined based on the net asset book value, with Kakao AI receiving 0.36 and Kakao X receiving 0.64. Consequently, existing Kakao shareholders will receive shares in both companies according to this ratio.The company plans to hold an extraordinary general meeting on December 17 to finalize the split, which is set to be completed on January 1 of the following year. Following this, Kakao AI will aim for a relisting and Kakao X will pursue a change in listing on January 27.* This article has been translated by AI. 2026-08-21 12:12:00
  • Kim Min-seok Plans to Restore Party Diplomacy with Visits to US, China, and Japan
    Kim Min-seok Plans to Restore Party Diplomacy with Visits to US, China, and Japan Kim Min-seok, leader of the Democratic Party, announced plans on August 21 to restore party diplomacy, with intentions to visit the United States, China, and Japan by the end of the year. He emphasized the need to accelerate these efforts ahead of the U.S. midterm elections in November.During a Supreme Council meeting held at the Gangneung City Hall, Kim stated, "Given the complex changes in the Korean Peninsula's situation involving the U.S., China, and North Korea, it is time to strengthen the role of President Lee Jae-myung as a pacemaker."He added, "When I was Prime Minister, I visited the U.S. and China, meeting with President Donald Trump, Vice President JD Vance, and Chinese Premier Li Qiang."Kim highlighted that party diplomacy differs from government diplomacy as it includes dialogue with opposition parties. He reiterated his commitment to visiting the U.S., China, and Japan this year, as promised during the party convention, and announced the formation of a task force to advance these diplomatic efforts.* This article has been translated by AI. 2026-08-21 12:08:00
  • Minister Park Hong-keun: Education Budget for Early Childhood and K-12 Will Not Decrease
    Minister Park Hong-keun: Education Budget for Early Childhood and K-12 Will Not Decrease The government firmly denied that the education budget for kindergartens and primary and secondary schools will decrease, even with changes to the calculation method for local education funding. The aim is to resolve the instability caused by the previous system, which was mechanically linked to domestic tax revenues, leading to significant impacts on local education offices during revenue shortfalls. The government plans to ensure stable budget increases through national compensation provisions.During a joint briefing at the Government Seoul Building on the 21st, Minister of Planning and Budget Park Hong-keun addressed concerns that the reform of local education funding would shrink financial support for primary and secondary education, stating, "There is absolutely no way that the education budget for our children will decrease."Education Minister Yoo Kyung-jin also emphasized, "The first condition we agreed upon when starting discussions on the funding reform with the Ministry of Planning and Budget was to ensure that the budget for supporting primary and secondary students does not decrease or fall short of covering even inflation-adjusted labor costs, no matter what happens."The government pointed out that the previous system, which linked 20.79% of domestic tax revenues to education funding, actually exacerbated financial instability. Minister Park questioned, "How long must we maintain this instability, which forced education offices to bear enormous burdens due to deficits in 2023 and 2024?" He explained that a comprehensive analysis over the past 40 years led to the creation of a new formula that guarantees no reduction in funding.He noted that the new formula adequately considers demands for artificial intelligence (AI) education, childcare needs, improvements to aging school facilities, and labor costs. The law will explicitly state that if the budget decreases compared to the previous year, the government will be responsible for covering the difference, establishing multiple safety measures.Minister Yoo added that, according to the new formula, the budget for primary and secondary education funding is expected to increase significantly from 2027 to 2030.The government also made it clear that the resources secured through the funding reform will not be diverted to other sectors but will be reinvested entirely within the education sector. Minister Park stated, "We intend to use the resources generated from the reform to evenly and balancedly invest in areas that have lacked funding, such as early childhood education, higher education, and lifelong learning. The goal of maintaining the 20.79% domestic tax revenue linkage is to ensure that we continue to invest in all areas of education and talent development without diverting funds elsewhere."* This article has been translated by AI. 2026-08-21 12:04:20
  • Government Restructures Education Funding Amid Semiconductor Boom
    Government Restructures Education Funding Amid Semiconductor Boom The government is establishing a 'Future Response Fund' based on additional tax revenue from the semiconductor boom and is significantly overhauling the local education financial grant system. While this may appear to signal a reduction in primary and secondary education budgets, a closer look reveals that the Ministry of Education has strategically safeguarded its interests.Through the revised funding formula, all differences arising from the changes will be allocated to a new 'Education and Talent Account' within the fund, securing investment for early childhood, higher education, and lifelong learning, thereby maintaining the total national education investment while broadening the scope to 'education throughout life.'On August 21, the government held the 'First Financial Operation Strategy Council' at the Government Seoul Building, where it finalized the plans for the Future Response Fund and the grant reform. The most significant change in the grant calculation method will shift from the previous '20.79% of domestic tax' linkage to a new formula: 'previous year's grant × three-year average growth rate × (three-year average change in school-age population × 0.35).'Initially, financial authorities aimed to reflect a decline in the school-age population of over 40% and completely abolish the domestic tax linkage. However, the Ministry of Education strongly emphasized the inflexibility of personnel costs, which account for over 60% of local education expenditures, successfully reducing the reflection rate to 35%.Additionally, a 'grant preservation clause' will be codified in the Local Education Financial Grants Act to ensure that if the total grant amount decreases compared to the previous year due to economic downturns, the difference will be fully compensated. This measure provides a robust safeguard against the anticipated 'budget drop' and 'reduction in personnel-related project costs' that local education offices were most concerned about.One of the most notable aspects is the establishment of the 'Education and Talent Account' within the Future Response Fund. The Ministry of Planning and Finance plans to separately allocate additional tax revenue from the semiconductor boom to invest in four key areas: youth, growth drivers, local development, and education and talent.In this process, the entire difference arising from the revised grant formula (the amount of domestic tax at 20.79% minus the grant calculated under the new formula) will be legally designated as income for the Education and Talent Account. Notably, transfers to other accounts will be strictly prohibited, ensuring that funds adjusted from the grants do not leak into industrial or general social overhead capital budgets.Ultimately, while the formula change may seem to alter the grants, it effectively maintains the overall education and talent investment at the level of '20.79% of domestic tax.'This measure allows the Ministry of Education to expand significant financial resources previously confined to primary and secondary education into areas such as early childhood education (integrated care), university innovation (transition to AX and strengthening research competitiveness), vocational and lifelong education, addressing long-standing financial challenges.University presidents and lifelong education advocates have consistently called for increased funding for higher and lifelong education, which has lagged behind the OECD average, but have often faced setbacks due to the rigid funding structure of primary and secondary grants. With this reform, the Ministry of Education has secured independent and stable resources to focus on national future challenges, including investment in early childhood education due to integration, nurturing outstanding talent in science and technology, enhancing regional university competitiveness, and promoting adult digital literacy and lifelong education.Regarding the grant reform, an education sector official stated, 'Rather than clinging to the absolute figure of 20.79% of domestic tax linkage, the decision to fully allocate equivalent resources to the Education and Talent Account to invest from early childhood to lifelong education is a pragmatic choice by the Ministry of Education.' He added, 'In the future legislative process, it is essential to actively incorporate the concerns of education superintendents and educational organizations to find a balance in addressing educational disparities and nurturing future talent.'* This article has been translated by AI. 2026-08-21 12:04:10
  • Mayor Lee Min-keun: We will capture the 70-year history of Daebu grapes and the future of Ansan
    Mayor Lee Min-keun: 'We will capture the 70-year history of Daebu grapes and the future of Ansan' Mayor Lee Min-keun expressed on the 19th, "We will capture the 70-year history of Daebu grapes and the future of Ansan."On this day, Mayor Lee held a final report meeting on the preparations for the '2026 Daebu Grape Festival' at the city hall conference room, where he reviewed the overall festival operations and safety measures, stating his commitment to the event.The preparations are in the final stages to promote the excellence of Daebu grapes and enhance the festival's status as a representative local event.About 40 attendees were present at the meeting, including Mayor Lee, Ansan city council members, relevant departments, the Daebu Grape Festival Committee, the Ansan Danwon Police Station, and the Ansan Fire Station.Participants shared updates on related events and carefully examined support measures from various agencies regarding traffic, safety, and order maintenance.In particular, they re-evaluated the safety management system to prepare for any unexpected situations that may arise during the event and discussed strategies to minimize visitor inconvenience.This year's Daebu Grape Festival is set to take place from September 19 to 20 at the Daebu Sea Fragrance Theme Park.The festival will also feature the Daebu Haesol-gil Walking Festival and the Ansan Marathon, creating a citizen-participatory event that combines walking, experiences, and cultural activities centered around Daebu grapes.Notably, to celebrate the 40th anniversary of city status, a '40 Years of Ansan & 70 Years of Daebu Grapes Theme Exhibition' will be established to showcase the growth of Ansan and the history and value of Daebu grapes in one place, as revealed by Mayor Lee.Through collaboration with local universities, the festival will present regionally specialized content, including desserts made with Daebu grapes and the local wine 'Cheongsu.' Additionally, interactive programs for children and families will be expanded.Mayor Lee aims to evolve the festival beyond simply tasting and purchasing grapes into an experience that allows visitors to enjoy the tourism resources of Daebu Island and local agricultural products.During the final report meeting, Mayor Lee emphasized that the success of the festival depends not only on the content but also on the safety and convenience of citizens and visitors, urging close cooperation among relevant agencies.As the festival approaches, citizens are expressing growing anticipation.Residents are looking forward to experiencing the taste and quality of Daebu grapes firsthand, as well as enjoying the history of Ansan and the charm of Daebu Island with their families.Ansan resident Kim said, "I take pride in Daebu grapes as a representative specialty of Ansan. This year, with the exhibition reflecting both 40 years of Ansan and 70 years of Daebu grapes, I definitely want to visit with my family."Another resident, Park, noted, "This isn't just an event for selling grapes; with the walking festival, marathon, and family experience programs, there will be much more to see than before. Above all, since we are bringing our kids, I hope parking, traffic, and safety management are well organized."Local merchants are also welcoming the festival, believing that an increase in visitors to Daebu Island will benefit local businesses such as restaurants and shops.Meanwhile, Mayor Lee urged, "Please ensure thorough preparations so that the Daebu Grape Festival can firmly establish itself as a representative festival of Ansan and Daebu Island." He added, "I ask that all relevant departments and agencies work closely together to ensure that both citizens and visitors can enjoy the festival safely and pleasantly."* This article has been translated by AI. 2026-08-21 11:56:00
  • Jung Jeom-sik Calls for Shift to Evidence-Based Governance Under Lee Administration
    Jung Jeom-sik Calls for Shift to Evidence-Based Governance Under Lee Administration Jung Jeom-sik, the floor leader of the People Power Party, asserted on August 21 that the government should shift its economic policies, including real estate, to a market-oriented approach. He also urged changes in the economic leadership, including the replacement of Kim Yong-beom, the head of the Presidential Policy Office.During a National Assembly countermeasures meeting, Jung emphasized, "There are rampant rumors about the second cabinet reshuffle of the Lee Jae-myung administration, and looking at the candidates being mentioned raises concerns." He stated that the purpose of the reshuffle should not be merely to rotate positions but to fundamentally change the government's policy direction.Jung proposed a transition from a governance model based on unstable ideologies and experiments to one grounded in verified policies, common sense, and trust. He specifically called for the replacement of Kim and Deputy Prime Minister for Economy Koo Yun-cheol. He also raised the need to address internal confusion in the foreign and security lines by replacing Unification Minister Jeong Dong-young and Defense Minister An Gyu-baek, aiming to alleviate public anxiety regarding security and defense. Additionally, he advised that the police chief and prosecutor general should be appointed promptly.Jung remarked, "The ruling party has already placed a party leader that President Lee Jae-myung desires, so I hope the Blue House and the cabinet can be filled with capable individuals that the public wants."Lim Yi-ja, who was appointed as the new Policy Chair the day before, voiced her concerns during her first countermeasures meeting regarding housing policy and power supply measures. She stated, "Housing supply is not a one-time event of finding a piece of land and building a few apartments; it must provide assurance that sufficient housing will be continuously supplied where needed to stabilize the market."She added, "Discussions on housing supply in Yongsan Park should be halted for now, and social discussions and agreements on the future value of national parks, soil purification, and environmental impact should precede this." Lim also suggested that the urban redevelopment and reconstruction laws be amended to allow for a maximum increase of 1.3 times the legal upper limit of floor area ratio through bipartisan agreement.Furthermore, she emphasized the need to establish a power grid to ensure that the government's announced three mega projects do not end up as mere empty promises. Lim urged, "The 12th Basic Plan for Power Supply must accurately reflect the surge in power demand, and plans for additional new nuclear power plants for stable power supply should be prepared. We must restart discussions on the Special Act to Support the Nuclear Power Industry to establish a proactive institutional foundation to respond to the increasing demand."Meanwhile, Jung congratulated Lim on her appointment and requested that she prepare measures regarding the college entrance exam's written and essay evaluations, the Yellow Envelope Act (revised labor law), and areas in government and ruling party legislation that require normalization.* This article has been translated by AI. 2026-08-21 11:20:10
  • Gyeonggi Gwacheon City Corporation Conducts Air Raid Preparedness Training
    Gyeonggi Gwacheon City Corporation Conducts Air Raid Preparedness Training The Gyeonggi Gwacheon City Corporation conducted civil defense training on August 20, in conjunction with the Eulji Exercise, to ensure rapid evacuation and initial response during emergencies such as air raids. The training took place from 2 p.m. for 20 minutes at three locations, including the Gwacheon Citizens' Hall. More than 120 participants, including employees of the corporation and representatives from related organizations, took part in the exercise. The drill focused on actions required in actual emergency situations, simulating the issuance of air raid alerts. Participants moved to designated evacuation sites according to the alerts, confirmed emergency action guidelines, and reviewed the roles and responsibilities of civil defense personnel. The corporation utilized audiovisual materials to instruct participants on how to identify evacuation locations and prepare survival kits, emphasizing essential safety rules to be known in advance. The training aimed not only to engage participants but also to enhance understanding of how individuals and organizations should respond in the early stages of a crisis. Preparations to increase the effectiveness of the training were also conducted in advance. The corporation held a pre-meeting for workplace civil defense personnel to review training procedures and roles, and informed facility users and stakeholders about the training schedule and designated evacuation sites through posters and announcements. This training served as an opportunity for both employees and citizens using the facilities to revisit emergency action guidelines. During the exercise, citizens checked the locations of designated evacuation sites within the facilities they regularly use and reviewed how to respond to announcements during disaster situations, such as air raid alerts. Some citizens expressed that it was meaningful to confirm the locations of evacuation facilities and emergency action guidelines that they had not previously paid much attention to. Importantly, the Eulji Exercise and civil defense training were not just events for specific agencies or officials, but a process to review emergency response systems together with the citizens who actually use the facilities. A corporation official stated, "Through this training, employees and stakeholders within the facilities were able to directly confirm necessary actions during emergencies and review the response system." He added, "We will continue to conduct thorough training considering actual situations to create an environment where citizens can use the facilities with peace of mind." The corporation plans to continue assessing safety management systems to enhance the response capabilities of employees and users by simulating various emergency situations tailored to the characteristics of the facilities, minimizing confusion during actual disasters.* This article has been translated by AI. 2026-08-21 11:16:00
  • Government to Revise Local Education Funding Formula Amid Declining Student Numbers
    Government to Revise Local Education Funding Formula Amid Declining Student Numbers The government plans to revise the formula for local education financial grants to reduce instability caused by declining school-age populations and fluctuations in tax revenue. The new formula will enhance the stability of total grants by reflecting economic growth rates and inflation while incorporating some changes in school-age population. Savings from this adjustment will be reinvested in future education and talent initiatives, including early childhood education and attracting national talent. Additionally, local grants will be linked to the Future Response Fund to strengthen support for regional growth and living conditions.This information was presented by the government during the first Financial Operation Strategy Council meeting on August 21.Currently, local education financial grants are structured to be 20.79% linked to domestic tax revenue. However, there have been ongoing calls for adjustments due to the decline in school-age populations. The number of school-age children dropped from 8.8 million in 2010 to 5.91 million last year, a decrease of 2.88 million (32.8%).Moreover, the government noted the need to address the short-term excess in grants resulting from a tax revenue boom. While investment in primary and secondary education (166%) exceeds the OECD average, investment in higher education stands at only 69%, which is also a concern.A Ministry of Economy and Finance official stated, "The local grants linked to domestic taxes have high financial uncertainty. We aim to enhance efficiency and stability through the establishment of this fund."The government will revise the formula considering economic conditions and changes in school-age populations. The plan is to increase grants based on the previous year's total while adjusting for only 35% of the change in school-age population over the past three years, reflecting the average economic growth rate during that period. The personnel costs for teachers, which do not decrease based on student numbers (60%), will not be included in this adjustment.With the formula revision, it is expected that grants will increase by reflecting the scale of national economic growth and inflation, thereby reducing the volatility of grants compared to tax revenue fluctuations.Funds generated from the grant revisions will be allocated to a separate education and talent account within the Future Response Fund, focusing on investments in early childhood education and attracting national talent. The government aims to ensure a continuous increase in per-student grants and total amounts while alleviating volatility.If the total grant amount decreases compared to the previous year, the difference will be compensated to ensure that the total does not decline, as stipulated in the grant law.An official from the Ministry of Education emphasized, "We have established safeguards to prevent a decrease in total amounts compared to the previous year by reflecting the growth rate. The 20.79% will be invested in education and talent areas to mitigate financial volatility."The structure of local grants, currently at 19.24%, will be maintained while adjusting the base figure. The base figure will exclude the Future Response Fund reserves from domestic taxes. Additionally, a local account will be established to comprehensively support local governments in creating growth hubs and improving living conditions. Furthermore, provisions will be added to allow for additional support to local governments based on economic conditions and financial circumstances.* This article has been translated by AI. 2026-08-21 11:12:10