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Yongin Mayor Lee Sang-il Visits Da Nang to Strengthen Cooperation Lee Sang-il, the mayor of Yongin, South Korea, is visiting Da Nang, Vietnam, from August 4 to 8 at the official invitation of the city, with which Yongin has a friendship agreement.Upon arrival in Vietnam on August 4, Mayor Lee and his delegation, including City Council Chair Jang Jeong-soon and council members Shin Na-yeon and Kang Young-woong, visited the Consulate General in Da Nang to meet with Consul General Han Jeong-il and KOTRA Da Nang Trade Office Director Jo Joo-yeon.On the morning of August 5, they will meet with Nguyen Dinh Bin, chairman of the Da Nang Fatherland Front, to discuss local governance between the two cities.In the afternoon, the delegation plans to visit FPT Group, Vietnams largest information and communication technology (ICT) company, to explore the countrys semiconductor industry ecosystem at the FPT High-Tech and Semiconductor R&D Center.On August 6, they will visit the Yongin Public Digital Library in Da Nang to review its operations. This library was established as part of an Official Development Assistance (ODA) project, covering an area of 1,686 square meters (approximately 510 pyeong) within the International Lotus Village Welfare Town in Quang Phu District.Following this, they will move to the Quang Phu District Office to hold discussions with Party Secretary Bui Ngoc An and Peoples Committee Chairman Huynh Ngoc Ba regarding the dispatch of a youth volunteer group as part of the K-Warm Village Project, aimed at promoting Korean culture and local volunteer activities.On August 7, the delegation will visit Da Nang City Hall for talks with Peoples Committee Chairman Nguyen Manh Hung and attend a welcome dinner for guests participating in the Korea-Vietnam Festival. In the afternoon, they will participate in the Meet Korea in Da Nang conference at the Furama Hotel, where Mayor Lee will present on AI - A New Driving Force for Growth and Development.Later, they will attend the opening ceremony of the 5th Korea-Vietnam Festival at East Sea Park in Da Nang, which has been held since 2022 to promote cultural exchange between the two countries.Yongin City established a friendship agreement with Quang Nam Province in 2013, which was integrated into Da Nang following administrative changes in July 2022. The two cities signed a friendship agreement on January 14.Mayor Lee stated, Da Nang is a key city in central Vietnam that is accelerating the development of advanced industries such as semiconductors and artificial intelligence. I hope this official invitation to the Korea-Vietnam Festival will further mature the cooperation between our two cities.Meanwhile, the Yongin Public Digital Library in Da Nang features digital learning spaces, reading rooms, and a promotional area for Yongin City. The city has allocated a budget of 200 million won for the librarys construction, pending final approval from the International Development Cooperation Committee under the Prime Ministers Office in 2024. The library will be operated by the International Lotus Village for the next two years before being handed over to Da Nangs Quang Phu District.* This article has been translated by AI. August 4, 2026 14:1 -
AI windfall splits One-Samsung as DX workers plan protest rally SEOUL, August 04 (AJP) - Samsung Electronics' record first-half earnings have exposed an unusual corporate paradox: the semiconductor division generated almost all of the company's profits, but in doing so widened an internal pay gap that is now splintering the company's long-held "One Samsung" culture. Samsung's Device Solutions (DS) semiconductor division earned 146.7 trillion won ($106 billion) in operating profit during the first half, dwarfing the 3.8 trillion won generated by the Device eXperience (DX) division, which houses its smartphone, television and home appliance businesses. The disparity has translated into sharply different employee compensation, fueling resentment among workers in the DX division whose profitability has been squeezed partly by the soaring memory chip prices that enriched their semiconductor counterparts. Although Samsung recently reached a compensation agreement with unions representing semiconductor employees, workers in the DX division have rejected a similar settlement and plan a large-scale rally outside the company's Seocho headquarters on Aug. 21. The unrest follows a closely watched labor victory for the DS division last month. After weeks of escalating tensions and a high-profile protest at Samsung's Hwaseong semiconductor campus, management agreed to provide special performance bonuses to chip employees. The agreement helped avert a prolonged strike that could have disrupted global memory chip supplies, but it immediately triggered backlash from employees in the DX division, who argue they have been treated unfairly despite belonging to the same company. Leading the protest is the Samsung Electronics Company Union (SECU), better known as Donghaeng, whose membership is concentrated in the DX business. The union said it will stage a rally at Samsung's Seocho headquarters on Aug. 21 under the slogan, "Same company, same rights." The slogan deliberately echoes chants heard during the semiconductor workers' protests in Hwaseong, underscoring how the successful tactics used by DS employees are now being adopted by another part of Samsung. "Management has remained completely silent despite repeated official requests from the union," a SECU representative said in explaining the decision to escalate the dispute to the company's headquarters. The dispute is exposing what labor observers describe as a new kind of conflict inside Samsung—not between labor and management, but between different groups of employees whose fortunes have increasingly diverged as the company's businesses move in opposite directions. The gap reflects Samsung's changing earnings structure. While demand for artificial intelligence memory chips has produced record profitability for the semiconductor business, the smartphone and consumer electronics division has faced margin pressure from weaker consumer demand and higher component costs, including expensive memory chips supplied internally. The widening divide has also fractured Samsung's labor movement. SECU has increasingly distanced itself from Samsung's umbrella union, arguing that DX employees' interests were being overshadowed by the semiconductor division's dominant bargaining position. By pursuing separate negotiations, the union believes it can press more aggressively for compensation reflecting the contributions of non-chip businesses. The umbrella union has declined to participate in the upcoming Seocho rally, saying it has no official position on the demonstration, highlighting the growing fragmentation within Samsung's labor organizations. For Samsung management, the dispute presents a delicate balancing act. Conceding to DX employees risks undermining the costly peace agreement recently reached with semiconductor workers, while refusing their demands could deepen internal divisions at a time when the company is relying more than ever on its AI-driven chip business. August 4, 2026 13:5 -
Iksan City Advances Solar Income Village Initiative Iksan City in North Jeolla Province has reaffirmed its status as a leading city in resident-participatory renewable energy income projects.On August 4, the city announced that four locations in Yeosan-myeon were selected in the first round of the governments solar income village project, paving the way for national funding and rural income expansion.The solar income village initiative allows residents to form cooperatives and directly participate in solar power generation projects. The profits generated from these projects are distributed for public purposes, such as community welfare and village funds, ensuring stable rural income.With a 1MW power plant, it is projected that monthly profit distributions could reach approximately 450,000 won for 30 households during the initial five-year grace period.In this selection process, a total of 17 locations were chosen in North Jeolla Province, with Iksan City securing the highest number at four.The selected locations include: △Cheonho Cooperative (Hakdong, Sinri) △Wonsu Cooperative (Yeonmyeong, Dogyang, Sangyang) △Jeonam Cooperative (Sangok, Haok, Sawol, Namsan, Seokgyo) △Taeseong Cooperative (Nuhang, Deoksan, Nodong, Hyeoncheon).This achievement is attributed to the solid experience gained from the village autonomous pension program, which was the first of its kind in the country.The city has already established and operates the nation’s first training center for village autonomous pensions in Seongdangpogu Village, successfully returning solar power profits to residents as pensions.The four selected locations are conditional selections, subject to the implementation of certain supplementary measures, including support for energy storage systems (ESS) for grid connection.The city plans to focus on administrative support, including expert technical guidance and expedited permitting, to ensure smooth project execution.Meanwhile, the government aims to expand the initiative to discover 700 solar income villages nationwide this year.Iksan City to Detail Future Vision Plans through August 7Iksan City is set to clarify its future vision execution strategies to realize the Iksan Transformation initiative under the 9th civil election.From August 4 to 7, Iksan Mayor Choi Jeong-ho will preside over the Future Vision and Administrative Operation Plan Report Meeting for the 9th civil election.This meeting aims to systematically devise execution plans for key objectives of the 9th civil election and ensure consistency and effectiveness in future administrative operations.The city will focus on establishing basic directions for administration, including creating job opportunities, attracting residents, and serving citizens, while detailing sector-specific goals and core strategies to enhance both quality of life and urban competitiveness.During the meeting, heads of national and local departments will present policy conditions, objectives, implementation strategies, key projects, and phased execution plans for their respective areas.Key discussion areas will include: △expansion of metropolitan transportation networks △nurturing future industries △advancing agricultural and bio-industries △revitalizing history, culture, tourism, and sports △expanding welfare that citizens can feel and improving living environments.In particular, the city plans to discuss not only short-term project implementation plans but also core achievements to be realized during the term and long-term development directions for the next decade to seek a foundation for sustainable urban growth.Based on the feedback provided during the meeting, the city will prioritize projects and refine implementation schedules, developing sector-specific plans into concrete execution tasks.Additionally, for projects requiring collaboration among multiple departments, a joint implementation system will be established, and projects that can be linked to government policies will actively seek national budget allocations and participation in public projects to strengthen policy implementation momentum.Mayor Choi Jeong-ho stated, “This meeting is an important starting point for materializing Iksans future vision into actionable policies. We will meticulously prepare detailed execution plans to ensure that strategies in each sector lead to tangible changes in citizens lives and achieve the Iksan Transformation that residents can feel.”Mayor Choi was elected as the 9th Iksan Mayor with 74.70% of the vote in the June 3 local elections.* This article has been translated by AI. August 4, 2026 11:4
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Jeju Development Corporation's Hong Kwan-hong Receives Government Award for Contributions to 80th Liberation Anniversary Jeju Special Self-Governing Province Development Corporation announced that Hong Kwan-hong received a government award for his contributions to the promotion of the 80th Liberation Anniversary on August 4.The government award for contributions to the 80th Liberation Anniversary is given to individuals and organizations that have contributed to the inheritance of the spirit of independence and the enhancement of national unity and pride. The award ceremony took place on August 3 at the Government Seoul Office, where Prime Minister Han Seung-soo personally presented the award.Hong was recognized for his role in establishing a public-private cooperation framework through the signing of a memorandum of understanding (MOU) with the 80th Liberation Anniversary Promotion Planning Team.As part of this agreement, the Jeju Development Corporation launched a limited edition label product, 80th Liberation Jeju Samdasoo, and conducted an online donation campaign titled A Sip of Samdasoo, Fundraising for the Nation in collaboration with Naver Happy Bean. Additionally, various activities to promote veterans culture were carried out, including operating a promotional booth for Jeju Samdasoo at the Brilliant Liberation Festival and setting up a pop-up store for Jeju Samdasoo and Airport Railroad.The corporation has been praised for raising awareness of the significance of liberation in the daily lives of citizens and for presenting a model of a national commemorative project that resonates with the public through the use of a public brand.Hong Kwan-hong stated, This government award is not just a personal achievement but a result created by all employees of the Jeju Development Corporation. I want to share this joy with all employees who have done their best in their respective roles.Kang Seong-hoon, acting president of the Jeju Development Corporation, remarked, This award will motivate us to repay the trust of the public as a public institution and to work with greater responsibility to enhance the value of Jeju.* This article has been translated by AI. August 4, 2026 11:1
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Ansan Mayor Lee Min-keun: Award Reflects Citizen Engagement Lee Min-keun, the mayor of Ansan, praised the recent recognition received at the Social Media Awards 2026, stating, This award is the result of communication developed together with our citizens. On this day, Mayor Lee announced that Ansan won both the Instagram Award and the Best Blog Award in the local government category at the Social Media Awards 2026, organized by the Korea Internet Professionals Association. He evaluated this achievement as a recognition of the citys citizen-centered digital communication administration, which has reached a national level of competitiveness. The Social Media Awards evaluate excellence across major social media channels, including blogs, Instagram, Facebook, and YouTube, in five areas: visuals, branding, content, marketing, and service. This award reflects the mayors policy of prioritizing communication with citizens as a core value in city governance. Mayor Lee has actively utilized modern content such as card news and short-form videos to help citizens easily and quickly understand policies, while continuously expanding information relevant to daily life and citizen participation. In particular, the Instagram platform was recognized for its engaging images, short video content, and posts that encourage citizen participation, which helped broaden connections with the community and secured the top award. The blog was acknowledged for effectively conveying complex policies and everyday information in an accessible manner, featuring content produced by citizen reporters that vividly showcases Ansans culture, tourism, festivals, and policies. Upon hearing the news of the awards, citizens expressed positive feedback, stating, It’s much easier to understand policies than before, I can quickly check events and information on Instagram, which is convenient, There are more relatable content pieces rather than stiff administrative promotions, I’ve discovered new aspects of Ansan, and I look forward to more active communication through social media in the future. City staff also expressed their commitment to further expanding citizen-friendly content following this recognition. Meanwhile, Mayor Lee Min-keun emphasized, We will continue to expand content that resonates with citizens and allows for direct participation, adapting to the changing digital environment, and strengthen our social media presence to enhance citizen-centered governance.* This article has been translated by AI. August 4, 2026 10:5
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One Year to the 2027 World Youth Day: Exploring Catholic Culture in Seoul The 2027 World Youth Day (WYD) is just a year away, and Seoul is transforming into a cultural stage to welcome young people from around the globe.The 2026 Catholic Culture Expo, taking place on August 8-9 at Deoksugung Stone Wall Road, is not merely a religious event. It is a participatory cultural festival open to all, including Catholics, local citizens, and international tourists, free of charge.This expo serves as a dress rehearsal for the 2027 WYD, aiming to introduce the history, spirituality, and culture of Korean Catholicism to the world.Making WYD a Festival for Seoul CitizensThe event is organized by the 2027 Seoul World Youth Day Organizing Committee and supported by the Ministry of Culture, Sports and Tourism.The organizers have set goals for the event, including introducing Korean Catholic culture, expanding participation among Seoul citizens and international visitors, and creating a cultural exchange platform for both believers and non-believers.Particularly, the focus is on conveying to citizens that the WYD is not just a religious event but an international cultural festival created by young people and the city. Approximately 10,000 visitors are expected over the two days.Transforming Deoksugung Stone Wall Road into Dasoni RoadThe main venue for the expo will be Deoksugung Stone Wall Road, which will be decorated as Dasoni Road, meaning beloved in pure Korean. Here, 48 religious orders, nine faith and apostolic groups, and youth communities will meet with citizens to share their spirituality and apostolic activities.Visitors will not only view exhibits but also engage in conversations with religious figures and participate in various experiences to naturally encounter Catholic culture.A layered stamp tour themed around Truth, Love, and Peace will turn the entire venue into an experiential mission space.Making Rosary Bracelets and Enjoying Coffee with Religious FiguresA key feature of this expo is experience. In the cultural experience zone, activities such as making rosary bracelets, creating nano-block crosses, calligraphy, tattoo stickers, and sock crafts will be available for free to everyone.One particularly noteworthy program is the Vocation Café, where young people can enjoy tea with religious figures or couples and freely discuss life, faith, and career paths. This dialogue format distinguishes it from traditional religious events.A Space to Experience ReconciliationThe most symbolic program will be the Reconciliation Park. This area will feature a reflective path for self-examination, accessible confession, and messages of peace through doves, embodying reconciliation as an experience. It is designed as a space for anyone, regardless of religion, to reflect on their lives and contemplate peace.On the first day of the event, Archbishop Jeong Soon-taek will attend to bless the Reconciliation Park and lead the opening ceremony.Performances Focused on Youth CultureCultural performances will also stand out. On August 8 and 9, performances involving religious orders and youth communities will take place at the Seoul Seo-soo-mun Government Complex.With a variety of genres including bands, choral music, fan dances, modern dance, and performances, the event will feature the Brillante choir from the Seoul Archdiocese Youth Department as hosts and opening performers, alongside various communities such as the Sisters of Charity, the Sisters of the Love of God, the St. Paul Religious Order, the Dream Village Male Choir, and the Vietnamese community.Familiar songs like You Raise Me Up, Amazing Grace, and Arirang will be performed, allowing for enjoyment beyond religious boundaries.Why Hold the Catholic Culture Expo Now?The 2027 World Youth Day is expected to attract over one million participants, marking the largest international event in the history of the Catholic Church in Korea. This expo is not just a preliminary event but the first citizen participation project to prepare Seoul for welcoming young people from around the world.The protagonists of the event are not clergy but citizens and youth. This is why it is held in Deoksugung Stone Wall Road, a representative historical and cultural space in Seoul.It aims to be an open cultural festival that naturally invites participation from both tourists and local citizens.Significance to NoteThe most significant aspect of this Catholic Culture Expo is its emphasis on communication over mission. While past religious events focused on introducing faith, this expo has chosen to engage citizens with Catholicism through culture, art, and experiences.The sight of religious figures conversing with citizens, foreign tourists enjoying performances, and young people discussing their careers and lives in an open space like Deoksugung Stone Wall Road exemplifies the open church that the 2027 World Youth Day aims to promote.With just one year until the World Youth Day, this expo signifies more than just an event. It marks the beginning of Seouls preparations to welcome young people from around the world and represents a new cultural experiment for the Catholic Church to engage more closely with citizens. August 4, 2026 10:4
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Cheorwon County Launches Local Tax Delinquency Management Team Cheorwon County in Gangwon Province has initiated the operation of a local tax delinquency management team to reduce local tax and non-tax revenue delinquencies and establish a fair tax order. The team will respond strongly to high and habitual delinquents while providing tailored administrative support to those facing financial difficulties.According to Cheorwon County on August 4, the county held a launch ceremony for the 2026 Local Tax Delinquency Management Team on August 3 at the countys tax office, attended by team members and relevant officials. During the ceremony, the operational direction of the management team was shared, along with job training and customer service and security education.The management team will inform delinquents of their status through phone calls and on-site visits, investigating the causes of delinquency and the ability to pay. Based on the findings, the team plans to implement collection activities tailored to the economic situations of the delinquents.For intentional high and habitual delinquents, strong measures such as vehicle registration confiscation and property seizure will be enforced. Conversely, for those unable to pay due to economic hardship, the team will encourage installment payments and provide tailored support linked to emergency welfare assistance and job programs through relevant departments.Starting with the launch ceremony, the management team will continue to conduct surveys and collection encouragement activities targeting delinquents in the area until the end of November. The county aims to closely identify the causes of delinquency through field-centered management and systematic counseling, reducing delinquent amounts while balancing collection and support based on taxpayers circumstances.This initiative is expected not only to collect delinquent amounts but also to foster a culture of diligent tax payment while identifying residents in need of welfare support. It aims to maintain fair taxation principles while providing practical assistance to residents requiring social consideration.Lee Jeong-soo, head of the Cheorwon County Tax Office, stated, “The operation of the delinquency management team will enhance equity with residents who diligently pay their taxes and help uncover welfare blind spots.” He added, “We will realize a tax administration that earns the trust of residents based on fair taxation.”* This article has been translated by AI. August 4, 2026 10:3
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Government Promised 20% Loss Coverage, But National Growth Fund Faces Principal Losses The National Growth Fund, heavily promoted by the government as providing up to 20% loss coverage, has entered a loss phase shortly after its launch, leading to growing dissatisfaction among investors. This discontent has intensified, particularly following a recent sharp decline in the domestic stock market, resulting in some investors already experiencing principal losses.On August 4, various online communities shared posts titled Current Status of the National Growth Fund, which promised to cover losses up to 20%.One post included a screenshot showing an investors status in the KB National Growth Mixed Fund, revealing a drop in the investment from 15 million won to a current valuation of 14,329,800 won. The loss rate was reported at -4.47%, with a valuation loss of approximately 670,200 won.This fund is part of a government initiative aimed at revitalizing the domestic stock market and promoting a culture of long-term investment. At its launch, the funds structure, which promised to cushion losses up to a certain level, led to a rapid sell-out.However, some investors have misunderstood the loss coverage structure. The so-called 20% loss coverage does not guarantee that investors will not incur losses; rather, it serves as a mechanism to cushion some losses under specific conditions. Consequently, the funds valuation can decline based on market conditions, and principal losses can occur.As volatility in the domestic stock market has increased, concerns have emerged in online communities about whether the 20% loss coverage threshold has already been breached.Comments from users included remarks such as, The five directors—Lee Jae-myung, Kim Yong-beom, Lee Chan-jin, Kim Sung-joo, and Lee Ok-won—are scrambling to cover up their mess, and If this had come out earlier, wouldnt we be looking at a -30% loss? Others expressed frustration, saying, Why should I be forced to buy this? and Its already funny that were breaching the 20% mark. One user quipped, National participation is over; its time for national incineration.Experts advise that even with a loss cushioning mechanism, funds are fundamentally performance-based financial products, meaning that principal is not guaranteed. They stress the importance of understanding the loss coverage methods and conditions before investing.* This article has been translated by AI. August 4, 2026 10:0
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Controversy Erupts Over 'Bat' Comment in Democratic Party Leadership Debate During a recent debate for the leadership of the Democratic Party, candidates Kim Young-ho and Han Min-soo engaged in a heated exchange regarding a controversial remark made by fellow candidate Choi Min-hee, who referred to a bat.On August 4, Kim appeared on SBS Radios Kim Tae-hyuns Political Show and expressed his outrage over Chois comment, stating, What angered me more was that if I had not heard the bat remark, there would have been no need for an apology, which is an Ilbe-style expression. He further criticized Choi, suggesting that the use of such derogatory language reflects a culture of contempt ingrained in her behavior.In contrast, Han, who is aligned with Chois faction, defended her by saying, Choi has apologized, and Kim has accepted it, so the matter is settled. He emphasized their shared history, stating, We are comrades who overcame the 12.3 insurrection and brought down the Yoon Seok-yeol administration. It seems that Chois comment was more of a private thought. She has apologized, and Kim accepted it. Han urged unity among party members, saying, We are the comrades who established the Lee Jae-myung government. Regardless of the leadership formed after the convention, we must move forward together. I hope other candidates share this sentiment.The debate also highlighted ongoing tensions between factions within the party. Han pointed out that lawmakers accompanying candidate Kim Min-seok should not claim to be part of the pro-Lee Jae-myung faction, while Kim asserted that he recognizes the anti-Choi faction and intends to prevent the re-election of pro-Choi members.When asked about claims that the current leadership race is divided along pro-Lee and pro-Choi lines, Han responded that those campaigning alongside Kim are identifying themselves as pro-Lee, questioning, Is it appropriate to use the presidents name to claim allegiance to the pro-Lee faction?Kim warned that if he were to become party leader and pro-Choi candidates like Han, Choi, and Lee Sung-yoon were elected to the Supreme Council, they would likely obstruct his initiatives at every turn, reiterating his commitment to preventing the re-election of pro-Choi members.* This article has been translated by AI. August 4, 2026 09:5
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South Korea's Path to Becoming a True Advanced Nation South Korea has become one of the worlds top 10 economies. It leads globally in advanced manufacturing sectors such as semiconductors, shipbuilding, automobiles, and batteries, while its cultural and content industries are creating a new national brand that transcends borders. In terms of economic power, no one refers to South Korea as a developing country anymore. However, many point out that the quality of life and social systems felt by citizens have not kept pace with the speed of economic growth. An advanced nation is not defined solely by its economic size. True advancement occurs when laws, institutions, education, politics, and social trust mature together.The challenges facing the government as it marks its first year in office reflect this reality. Future governance should not be limited to merely increasing growth rates. Reforms that elevate the national system supporting the economy must be pursued simultaneously. Rule of law, education, pension and low birth rate issues, media, and political reforms are not separate tasks but rather interconnected pillars for South Koreas sustainable growth.Above all, the rule of law is the starting point for national competitiveness. Businesses invest when they trust predictable laws and institutions, and citizens trust society when they believe in fair law enforcement. When laws are applied fairly to everyone and policy consistency is maintained, markets stabilize. If institutions waver due to political interests or if the predictability of laws diminishes, businesses will hesitate to invest, and the nation will inevitably lose its competitiveness.Education innovation is also an urgent task that cannot be postponed. In the age of AI, traditional rote learning will not suffice to compete globally. A bold shift to education that fosters creativity, problem-solving skills, and digital competencies is necessary. Universities must collaborate with industries for research, businesses should connect with educational institutions, and the government must lay the groundwork for nurturing future talent. Talent is the most important strategic asset a nation possesses.The issues of low birth rates and an aging population also significantly impact the nations future. The birth rate remains among the lowest in the world, and the working-age population continues to decline. Pension reform, labor market reform, and policies for youth housing and employment should not be pursued separately. Creating a society where young people can plan for their futures is the most fundamental approach to addressing the low birth rate issue.Restoring social trust is equally important. In the digital age, while information is abundant, trust is diminishing. Fake news and sensational information exacerbate social conflicts, and unverified claims repeatedly sway public opinion. The media must create fact-based reporting and responsible public discourse, while the government and political sphere must earn public trust through transparent information sharing and communication. Trust is the foundation of democracy and an asset for the economy.Politics must also change. Businesses fear frequent policy changes more than changes in government. The economy thrives on predictability. If political parties are solely focused on conflict, reforms will be delayed, and public fatigue will only increase. Cooperation is not merely a political compromise; it is a necessary condition for enhancing national competitiveness. Politics must create a common goal for the future of South Korea that transcends the success or failure of any administration.Economic growth alone does not complete the picture of an advanced nation. The global community values South Korea not just for its export volume but for its democracy, rule of law, civic consciousness, and social trust. The next decade will be defined not by how much more we produce, but by how much more we elevate the quality of our nation.The first year of the new government marks a new starting point. South Korea must now consider not just the speed of growth but the quality of that growth. Only when the rule of law is upheld, education prepares for the future, the media restores trust, and politics fosters a culture of cooperation can the economy achieve sustainable growth. The dignity of a nation is not merely a result of its economy but the strongest foundation that enables economic success. For South Korea to leap to the next level of advanced nationhood, what is most needed now is the courage and wisdom to innovate beyond the economy and transform the national system. August 4, 2026 09:5
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JB Financial Chairman Kim Ki-hong Emphasizes Need for Qualitative Growth Amid Uncertainty Kim Ki-hong, Chairman of JB Financial Group, emphasized the need to transform organizational culture and work methods through artificial intelligence (AX). He made these remarks during the 2026 Second Management Strategy Meeting held from July 30 to August 1 at the Jeongeup Aurum Campus.During the meeting, Kim stated, We must cultivate a company-wide AX mindset by discovering and disseminating practical application cases to experience the necessity and efficiency of AI agent utilization. The strategy meeting aimed to review the management performance of the first half of 2026, identify areas for improvement, and discuss key execution strategies for achieving profit targets in the second half and ensuring the groups long-term sustainable growth.JB Financial reported a record net profit of 385.7 billion won in the first half of this year, a 4.1% increase compared to the same period last year. The company plans to focus on proactive risk management in response to domestic and international uncertainties and maximize profitability. It aims to maintain its industry-leading cost-to-income ratio (CIR) while expanding non-interest income and rebalancing its portfolio towards high-efficiency assets.The meeting also featured lectures and seminars aimed at internalizing AX across the group. Seok Chang-kyu, Chairman of Webcash Group, delivered a special lecture. Additionally, forums on Strategic Tasks in the AI Era and benchmarking reports on global innovation technology trends were conducted, along with discussions on ways to create synergies among subsidiaries.Kim Ki-hong remarked, The first half of this year demonstrated that we achieved results in line with market consensus while solidifying the groups structural profit base. Given the recent uncertain market environment, it is essential to elevate the risk management system across the entire group to the next level.* This article has been translated by AI. August 4, 2026 09:5
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Transforming Cities into Campuses: Cultivating Global Talent from Youth The competitiveness of nations in the era of artificial intelligence, known as the AX era, is not determined solely by technology and capital. The ability to discover new problems using AI, connect different knowledge, and implement ideas into technology, products, and services hinges on how many talented individuals can be secured.Talent acquisition does not begin only at the stage of recruiting already proven experts. It is crucial to identify promising youth early and help them establish connections with our countrys education, research, and industrial ecosystems. The ability to build trust with potential global talent at an early stage is becoming a key factor in long-term competitiveness.The South Korean government and universities are emphasizing the attraction of international students, the internationalization of universities, and the settlement of outstanding talent in the country. However, much of the policy focuses on recruitment and management after students have already decided to study in Korea or applied to universities, as well as on employment and settlement after graduation.In fact, there are insufficient programs in place to help global youth experience Korea for the first time and to think about their aptitudes, career paths, and futures in connection with Korea. We are missing the front end of attracting global talent.Major universities in the United States and Europe have long utilized summer and winter breaks to offer pre-college programs and campus experiences for youth. Students can experience college classes and life in advance while interacting with peers from around the world and exploring their majors and career paths. Universities meet potential outstanding students early, cities enhance their international recognition, and nations build long-term global talent networks.I have confirmed this gap through requests from Latin American parents. They noted that while there are various programs in North America and Europe for youth to experience universities and cultures during breaks, there are almost no systematic programs in Korea to engage with universities, advanced industries, and cultural content.Initially, I thought this interest might be limited to some K-pop fan families. Therefore, I directly contacted major private schools in Colombia, Mexico, Peru, and Miami. Many schools already operate educational and cultural experience programs that send students abroad in groups during breaks, and they expressed interest in considering Korea as a new destination if a reliable curriculum and safety management system were established. They confirmed their willingness to cover airfare, tuition, and accommodation costs if the quality of education and safety were guaranteed.Embassies of Latin American countries in South Korea initially expressed concerns about the safety and management of minors. However, after explaining that local school teachers would accompany students throughout their stay and that systematic protection measures would be established domestically, they showed interest in meaningful youth exchanges.Having lived in Latin America and worked as a diplomat in nine countries for about 40 years, I have supported outstanding local students in studying in Korea during my time at the embassy and continue to assist Latin American students in settling and finding careers in Korea. Based on this experience and local responses, there is sufficient demand for Korean-style pre-college programs.The issue is not that global youth lack interest in Korea. Rather, there is a lack of processes to connect their existing interest with education, career exploration, and long-term talent networks.Transforming Cities into CampusesSouth Korea does not need to simply replicate the university-centered programs of the United States and Europe. Instead, it has a more favorable environment to provide the integrated and experiential education that today’s youth desire.Young people do not want to hear only about specific majors at certain universities. They want to see how knowledge created at universities is utilized in research institutions and companies, and how an idea evolves into technology, products, services, and cultural content.South Korea offers a relatively safe living environment and convenient public transportation. Universities, research institutions, advanced companies, and cultural facilities are also densely located nearby. Students can experience artificial intelligence, semiconductors, robotics, biotechnology, future automobiles, and smart cities in a short period, while also observing how K-pop, dramas, films, games, and webtoons are planned and produced for the global market.The Korean Wave is a powerful attraction drawing the attention of global youth to Korea. However, Koreas true competitiveness lies not only in completed cultural products but also in the dynamic ecosystem where universities, research institutions, and companies collaborate to quickly turn ideas into technology, products, and services.Global youth can experience the entire process of how knowledge and ideas transition from research and technology to industry, market, culture, and society in Korea. This is not merely a tour; it is a career exploration that helps students discover what interests them and what problems they want to solve, while also fostering future education through collaboration with peers from diverse cultures and backgrounds.Therefore, there is no need to limit programs to the name of a single university. The city can serve as a platform where various universities, research institutions, companies, international organizations, and cultural institutions provide their expertise and facilities. Universities can offer major lectures and campus experiences, research institutions can showcase new technologies and research sites, and companies can demonstrate the process of turning ideas into products and services.Specialized operating organizations can manage accommodations, transportation, insurance, and daily living, while local school teachers and domestic guides can share responsibility for student protection. This way, the entire city becomes an open campus and a living textbook.Korean youth should also participate. Rather than merely introducing Korea to foreign students, Korean and global youth should live together, discuss, and collaborate on joint projects focusing on artificial intelligence, climate change, future cities, and cultural content. The process of reconciling differences with friends from different languages and cultures will cultivate creativity, communication skills, empathy, and leadership.The youth who brainstorm together today may meet again in 10 or 20 years as scientists, business leaders, policymakers, and cultural figures from their respective countries. The friendships and trust formed during youth are long-term human assets that cannot be created through one-time national promotions.Global Talent Platforms Created by Local GovernmentsIn urban pre-college programs, local governments should not merely be sponsors of events. They need to become platform builders that connect local universities, research institutes, companies, and cultural institutions, designing the city’s future industries and educational resources into a single international education program.Songdo is a suitable pilot area. It is home to foreign universities, international organizations, research institutions, and bio and information technology companies, and is close to Incheon International Airport. However, this concept should not be limited to Songdo. Daejeon can develop educational content based on its strengths in science and technology, Ulsan in automobiles and shipbuilding, Gwangju in artificial intelligence and culture, and Busan in marine and logistics.Local governments should not just allocate budgets to specific universities but should publicly select excellent educational programs linked to local industries to encourage cooperation among universities. Each university should participate in areas where they have competitiveness, rather than based on size or ranking, while companies and research institutions should provide field experiences and projects.Students can explore their aptitudes and interests by experiencing various universities, research institutes, and industrial sites. Universities can meet potential international students early, and companies and research institutions can connect with future global talent and overseas school networks. Cities will gain a new brand that showcases their educational and industrial competitiveness to the world.Alongside youth programs, separate programs for parents and teachers can also be operated. While students participate in classes and projects, parents and teachers can be introduced to Korea’s education system, healthcare, culture, local industries, and investment environment. The visit of one student can expand into ongoing exchanges between a family, a school, and even two cities and two countries.While ensuring safety, the door to possibilities must remain open.Although interest from overseas schools, parents, and embassies in South Korea has been confirmed, the process of realizing programs domestically has not been easy. Due to a lack of clear operational standards and role-sharing structures regarding the safety and responsibility of minors, universities and related institutions have been hesitant to participate in new programs.Student safety is paramount. Consent from guardians, accompaniment by local teachers, placement of domestic professional guides and living managers, separation of male and female accommodations, nighttime supervision, connections to medical institutions, insurance coverage, and emergency response systems must be established.However, the issue is not the existence of safety standards. The problem lies in the lack of clear standards and responsibility-sharing structures applicable to new forms of international education programs. If we try to fit them only into the existing frameworks of training activities or group tourism, it will be difficult to initiate programs even with sufficient protective measures.There is no need to launch a large-scale project from the outset. Local governments can lead small pilot programs involving universities, research institutions, companies, overseas schools, and specialized operating organizations. By verifying safety and educational effectiveness and addressing issues, these can develop into regular summer and winter courses. The government should establish standard guidelines that include the qualifications of operating organizations, student protection, accommodation, medical, and insurance standards, and the scope of responsibility in case of accidents to reduce uncertainties on the ground.The Korean Wave has drawn the attention of global youth to Korea. Now, we must connect that interest not just to temporary visits and consumption but to education, research, industry, and future talent networks.Urban pre-college programs are not about welcoming youth as temporary visitors. They represent a long-term national talent strategy that connects the entire city as a campus with global potential talent, universities, research, and industry.If a few weeks of experience can lead to online joint classes and follow-up projects, as well as an international alumni network after returning home, then a short visit can become a long-lasting human asset in diplomacy, economy, and culture for decades. Not every participant needs to enroll in a Korean university. If those who deeply experience Korea in their youth grow to become business leaders, scientists, civil servants, and cultural figures in their respective countries and collaborate with Korea, that alone would be a significant national asset.The competition to attract global talent begins not at the university admission stage, but at the point where global youth first discover their futures in a city. August 4, 2026 09:4
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K-Content Exports Reach 86 Billion Won in ASEAN Market The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency announced on August 4 that the 2026 Korea-ASEAN K-Content Business Week, held from July 28 to 30 in Jakarta, Indonesia, was a success.Thirty-two domestic content companies participated, conducting export consultations with 97 major buyers from four ASEAN countries—Indonesia, Singapore, the Philippines, and Malaysia—as well as Australia. A total of 706 consultations were held, resulting in $60 million in potential deals (approximately 86 billion won) and 19 memorandums of understanding (MOUs) signed.During the event, Irene Umar, Deputy Minister of the Indonesian Ministry of Creative Economy, participated in a content intellectual property (IP) business forum. A panel discussion with local OTT platforms, brands, and licensing companies addressed strategies for entering the local market and expanding private sector collaboration.The Korea Creative Content Agency aims to continue supporting domestic content companies in solidifying various collaboration opportunities, including export consultations, licensing, co-production, and investment with major buyers in ASEAN and Australia.* This article has been translated by AI. August 4, 2026 09:0
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The Bilbao Effect and the Noodle Effect The unseen roots beneath the ground can be up to 40 times larger than the visible trees above. This is why they are often referred to as the kingdom of roots. Architecture, as a culture, resembles a large tree that grows from this kingdom of roots. Thus, the vitality of well-established architectural heritage often lasts for thousands of years.- The Economic Impact of Architectural CultureMeasuring the economic impact of culture is inherently challenging. However, by examining its ripple effects, we can better understand its economic significance. The most visited places by tourists often symbolize the cities they inhabit. Consequently, many cities strive to create landmarks as part of high-quality, high-value marketing strategies.Successful landmarks elevate a citys prestige and foster civic pride, promoting community unity. When these landmarks attract international tourists, they significantly boost the local economy and enhance the citys competitiveness. Let’s explore the efforts made by other cities to achieve such effects.- Guggenheim Museum in BilbaoWith over 33,000 titanium panels that change colors like the flowing waters of the Nervión River, the Guggenheim Museum in Bilbao is a stunning example of architectural culture. After the decline of the steel industry left the area in ruins, the city negotiated to host the Guggenheim Museum under specific conditions: the city would provide support without interference, offer the land for free, cover all construction costs, and entrust the design and operation to the Guggenheim Foundation.This led to the selection of Frank Gehry, a master of deconstructivism known for his dynamic curves and freeform designs. The construction lasted seven years and cost €135 million, more than ten times the initial budget. This substantial investment was recouped within five years of opening, attracting one million visitors annually. The museum has since become a source of pride for the people of Bilbao, a symbol of Spain, and a global architectural heritage site, coining the term Bilbao effect in economic discussions.- Metropol Parasol in SevilleThe Metropol Parasol, located in Plaza de la Encarnación in Seville, is the largest wooden structure in the world. This site, where cultural heritage from the old capital of Andalusia lies buried beneath, was once a traditional market. The challenge was to create a new multifunctional cultural space that included a plaza, restaurants, performance venues, and an observation deck overlooking the historic city.Through an international competition, the innovative design by Jürgen Mayer was selected. Despite facing technical issues, budget overruns, and a six-year construction period, it opened in April 2011 and has since become a prominent symbol of Seville, attracting the third-highest number of visitors in the city.As the sun sets and the vibrant night lights begin to dance, the Metropol Parasol showcases the architectural culture of the city, delighting visitors with its stunning display.- Noodle SoundscapeThomas Heatherwick, designer of the Vessel TKA in New York, which cost an estimated $200 million, has created the Soundscape on Noodle Island, an aerial garden above the Han River in central Seoul. This design reflects the existing landscape of the island below and projects the flowing waters of the Han River, creating a fantastical world that allows visitors to experience the changing natural scenery of the seasons and time.From the elevated garden, visitors can enjoy panoramic views of Seoul, with the sounds and scents of life flowing into their hearts like a heavenly garden. As they stroll through the misty, unstructured garden, people from around the world will once again dance and sing along with Koreas cultural sensibilities. The cultural value of this site, which is set to become a new symbol of Seoul, is immeasurable, and we should ask those who come to visit.* This article has been translated by AI. August 4, 2026 05:0
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Seongnam Mayor Shin Sang-jin: Supporting Local Artisans is Key to Reviving the Economy Shin Sang-jin, the mayor of Seongnam, stated on August 3 that supporting local artisans is essential for revitalizing the local economy, emphasizing efforts to expand market access for local craftspeople and strengthen the competitiveness of small businesses. On this day, Mayor Shin announced that the 25th Seongnam Excellent Craft Exhibition will be held from August 3 to 6 at the first-floor plaza of AK Plaza in Bundang. He highlighted the events focus on nurturing the local craft industry and supporting small businesses. The exhibition is organized by the Korea Traditional Folk Craft Association, with Seongnam City providing 30 million won in funding. The event aims to showcase the works of outstanding local artisans to the public while facilitating actual sales and expanding market access to enhance the competitiveness of the craft industry, according to Mayor Shin. The exhibition will feature over 200 exceptional works from local artisans, including mother-of-pearl lacquerware, hanji crafts, textile arts, and ceramics. Beyond mere display, the event is designed to allow citizens to purchase the artworks directly, which is expected to contribute to stable income generation and self-sustainability for local artisans. In particular, Mayor Shin plans to strengthen distribution and market support for local artisans in collaboration with the Small Enterprise and Market Services Southern Gyeonggi branch. Additionally, hands-on experience programs in hanji crafts and ceramics will be offered for public participation. During the event, on-site registration will allow approximately 400 participants, indicating strong interest from family visitors. This event is seen as a continuation of Mayor Shins ongoing emphasis on livelihood economy recovery, support for small businesses, and nurturing local cultural industries. By promoting the consumption of high-quality locally produced crafts and providing opportunities for direct communication between citizens and artisans, the event aims to expand the foundation for a virtuous cycle in the local economy. Citizens have responded positively, expressing that it is an event where they can directly appreciate the value of local crafts. One visitor remarked, It’s unique and meaningful to see local artisans works all in one place at a department store, and I feel it’s even more valuable knowing they are handmade, making me want to buy them as gifts. Another citizen noted, Purchasing high-quality crafts made locally ultimately helps revive the local economy. I hope such events continue to provide tangible support to artisans. Local artisans also expressed their gratitude, stating, This is a precious opportunity to introduce and sell our works directly to citizens. The continuous support from Seongnam City is a great help in enhancing the competitiveness of the local craft industry. Meanwhile, Mayor Shin emphasized that local artisans are valuable assets that carry our culture and skills. He added, We will actively support the creative activities and market expansion of outstanding artisans to invigorate the local economy and continuously create an environment where citizens can enjoy culture and crafts in their daily lives. August 3, 2026 21:0