China to Impose Harsh Penalties on Illegal Fishing Ghost Ships in Yellow Sea
China is expected to impose strict penalties on the owners of vessels engaged in illegal fishing in the Yellow Sea.On September 7, Noh Jae-heon, South Korea's ambassador to China, stated at the embassy that the Chinese Coast Guard recently located the owner of a "ghost ship" that was seized by the South Korean Coast Guard in May and is currently undergoing legal proceedings. He noted that China had requested South Korea to provide relevant evidence through the embassy on August 25.A "ghost ship"
Prime Minister Han Seung-soo Advocates for Long-Term Investment in Future Industries and Deep Tech
한성숙 국무총리는 7일 “연구자들이 도전적인 연구에 몰입할 수 있도록 성실한 실패는 용인하고 불필요한 행정절차는 과감하게 줄이겠다”고 밝혔다.한 총리는 이날 서울 영등포구 페어몬트 앰배서더 서울에서 열린 ‘2026 기술개발인의 날 기념식’에서 “기술개발인들이 실패를 두려워하지 않고 마음껏 도전할 수 있는 환경을 만드는 데 최선을 다하겠다”며 이같이 말했다.한 총리는 우선 기술 스케일업과 사업화 지원 강화를 약속했다. 그는 “연구실의 우수한 성과가 사장되지 않고, 기술 스케
Semiconductor Boom Fails to Boost Domestic Economy, Echoes of the 1990s
The Hyundai Economic Research Institute has raised concerns about the South Korean economy, noting that while the semiconductor sector is thriving, domestic consumption is declining.In August, exports surged by 68.7% compared to the previous year, driven by strong semiconductor sales. The semiconductor sector's share of total exports jumped from 25.9% to 47.5%. However, retail sales in July fell by 2.4% from the previous month. The growth rate of household income, after government support was wi
Basic Income Party Calls for Yoon Hye-in to Maintain Dual Role Amid Controversy
The Basic Income Party stated on September 7 that it continues to demand that Yoon Hye-in, the nominee for Minister of Gender Equality and Family, maintain her position as a proportional representative amid ongoing controversy. Shin Ji-hye, a senior member of the Basic Income Party, spoke to reporters at the National Assembly, saying, "New paths must always be challenged and attempted to create new precedents." Shin pointed out that there is a clear bias against proportional representatives and
Why Is the Autumn Sky Particularly Blue? September 7 is 'Blue Sky Day'
Today (September 7), which marks the solar term of Baengno, is 'Blue Sky Day,' aimed at raising awareness about the importance of clean air. The government held the 7th Blue Sky Day ceremony in Seoul, emphasizing the significance of improving air quality and international cooperation. The 'International Day of Clean Air for blue skies' was established as an official UN observance at the 74th UN General Assembly in December 2019, following a proposal from Korea. Since 2020, it has been celebrat
K-Coin Market Shrinks as Domestic Trading Volume Halves, Exchange Profits Plummet 80%
This year, the trading volume in South Korea's virtual asset market has dropped by more than half compared to last year. Analysts attribute this decline to a surge in the stock market, which has drawn investor interest away from virtual assets, coupled with a lack of investment products and regulatory uncertainties in the domestic market, prompting investors to turn to overseas exchanges.According to the financial sector on September 7, the trading volume of the five major South Korean won-based
Audit Finds Daejeon Fire Caused by Human Error, Poor Oversight
Last year’s fire at the National Information Resources Management Center in Daejeon was caused by human error, stemming from poor construction by unregistered contractors, inadequate management and oversight, and insufficient initial response. The center also requested firefighters to refrain from using water to extinguish the blaze, which exacerbated the damage. On September 7, the Board of Audit and Inspection released its findings on the fire's cause and response, identifying 18 instances of
Regional Construction Firms Struggle Amid Unsold Homes and Rising Oil Prices
The prolonged downturn in the construction market is deepening the woes of regional construction firms. While demand and investment are concentrated in key areas like Seoul, regions are struggling to clear their unsold inventory. The ongoing conflict between the U.S. and Iran has caused international oil prices to fluctuate again, raising concerns about increased construction costs.According to the Ministry of Land, Infrastructure and Transport's Construction Industry Knowledge Information Syste
KOSPI Nears 7000 Mark, Soars 4.61% on Semiconductor Surge
The KOSPI index surged to just below the 7000 mark, driven by significant gains in major semiconductor stocks like Samsung Electronics and SK Hynix. Foreign and institutional investors each made net purchases exceeding 2.5 trillion won, propelling the index higher.On September 7, the KOSPI closed at 6995.39, up 308.18 points (4.61%) from the previous trading day, leaving it just 4.61 points shy of the 7000 mark. During the session, the index reached as high as 6995.40, coming close to the milest
Korea's Gadeokdo New Airport Project Moves Forward with Basic Design Approval
The Gadeokdo New Airport site development project has completed the basic design phase and is moving forward with detailed design and construction plans for priority sections to begin this year. On September 7, the Ministry of Land, Infrastructure and Transport and the Gadeokdo New Airport Construction Authority announced that they received the basic design documents from the Daewoo Engineering & Construction consortium, which is a preliminary candidate for the project. The basic design process