Three National Universities Selected for 'Creating 10 Seoul National Universities' Initiative
Three national universities—Pusan National University, Chonnam National University, and Chungnam National University—have been selected as key institutions for the South Korean government's 'Creating 10 Seoul National Universities' initiative. These universities will receive substantial funding of 70 billion won each this year and approximately 80 billion won annually starting next year, over the next five years, to play a pivotal role in nurturing talent linked to regional strategic industries.
Surge in Forced Stock Sales Reaches 4.8 Trillion Won Amid Market Volatility
As of July this year, the scale of forced sales by individual investors, known as 'debt investment,' has exceeded 4.8 trillion won. This figure is nearly double the total amount of forced sales recorded last year. This surge indicates a significant number of investors who borrowed funds to invest in stocks through margin trading and credit loans have faced forced liquidation due to insufficient collateral. If the trend continues, the total forced sales by the end of this year are expected to rea
South Korea Expands Tax Benefits for Manufacturing Under New Policy
The South Korean government is broadening its tax support for businesses from focusing solely on 'investment' to include 'production.' Industries such as semiconductors and batteries will benefit from the 'domestic production tax credit' (Korean version of the IRA), which offers tax reductions based on domestic production levels. However, sectors like AI data centers, electric vehicles, and vaccines have been excluded, raising concerns about gaps in support.According to industry sources, the gov
Margin Calls Surge as 94% of Investors Face Forced Liquidation
The domestic stock market experienced a steep upward trajectory until reaching an all-time high in June. This surge led to a rise in leveraged investments, known as '빚투' (debt investment). While the situation would have been manageable had stock prices continued to rise, the reality is that no stock can keep climbing indefinitely. Those who engaged in leveraged investments at peak prices are now facing forced liquidations in a declining market.On September 1, data submitted by the office of la
Surge in Forced Sales Linked to Stock Loans Exceeds Last Year's Total
Personal investors borrowing funds to purchase stocks through financial companies linked to securities firms, known as stock loans, have seen a significant increase in forced sales. This surge is attributed to the volatile stock market this year, which has led to a decline in collateral value, resulting in many investors being unable to manage their borrowed funds and having their stocks forcibly sold. The total amount of forced sales related to stock loans in the first seven months of this year
France Tourism Office Appoints Jeong Hye-won as New Director in Korea
On September 1, the France Tourism Office announced the official appointment of Jeong Hye-won as the new director of its Korea office.Jeong began her career in the French tourism sector in 1996 as an in-flight interpreter for Air France. She joined the France Tourism Office in Korea in 1998, marking the start of her 28-year journey in promoting and marketing French tourism in the Korean market.Throughout her extensive career, Jeong has closely observed the changes and trends in the Korean travel
Youth Advisory Groups Visit Anyang Prison to Address Correctional Officer Conditions
The 2030 Youth Advisory Groups from the Ministry of Justice and the Ministry of Veterans Affairs visited Anyang Prison to hear firsthand about the working conditions of correctional officers.According to the Ministry of Justice, the joint visit took place on August 31, where members experienced the daily tasks of correctional officers and listened to their challenges. This visit marked the first collaborative field schedule between the two ministries aimed at diagnosing issues in correctional ad
Controversy Over Birth Support Payments: Government to Consider Retroactive Application
As the government prepares to reform its childbirth and childcare support system, a significant issue has arisen regarding a discrepancy of over 10 million won in support payments based on a one-day difference in birth dates. The government is now considering retroactively applying the new system to children born from January to June 2027.President Lee Jae-myung raised concerns about equity during a Cabinet meeting on September 1 regarding the implementation date for the child support payment an
Ulsan City Bus System Faces Transition with 100% Financial Support
Ulsan's city bus system is at a turning point.With a proposal to fully support the transportation losses of private bus companies starting next year, discussions are intensifying over whether to maintain the current financially supported private model or to expand public roles in routes, vehicles, and operations.Ulsan City is reviewing plans to restructure the operational system, including the establishment of a public bus system and a transportation corporation.As the burden on public finances
Unification Church Leader Receives Two-Year Sentence, Remains Free Until End of Month
The leader of the Unification Church, Han Hak-ja, who was sentenced to two years in prison for alleged collusion with the Yoon Suk-yeol administration, will remain free until the end of the month.On September 1, the Seoul Central District Court's Criminal Division 27, led by Judge Woo In-sung, accepted Han's request to extend the suspension of his sentence. The suspension period, originally set to expire at 6 p.m. on September 2, has now been extended to 6 p.m. on September 30.Han was sentenced