Korea's Fair Trade Commission Approves TPG's Acquisition of Lotte Rental Shares
The Fair Trade Commission has approved the acquisition of shares in Lotte Rental by the U.S.-based private equity firm Texas Pacific Group (TPG).The commission announced on September 1 that it has granted approval for the acquisition by Lexicon Korea Holdings, a company affiliated with TPG.TPG has entered the South Korean private equity market and the infant nutrition sector, with its local subsidiary HB F&B operating in the latter. Lotte Rental primarily focuses on the vehicle rental market
2027 Education Ministry Budget Reaches Record 117.6 Trillion Won with New Future Response Fund
The 2027 budget proposal for the Ministry of Education has been set at 117.6 trillion won, reflecting a 10.6% increase from the previous year's budget. To proactively address demographic changes and the AI transformation, a new Future Response Fund worth 4.9 trillion won has been established, focusing on early childhood care, regional youth settlement, and the development of advanced talent.On September 1, the Ministry of Education officially announced the details of the 2027 budget proposal. Th
Government Modifies Property Tax Reforms, Retains Key Provisions
The government has reversed its plan to reduce the basic exemption for non-resident homeowners from 1.2 billion won to 900 million won. It also decided to maintain the current cap on property tax burdens at 150% of the previous year's property tax, instead of increasing it to 200% as initially proposed.On September 1, during a Cabinet meeting, the government finalized the "2026 Tax Reform Plan," which reflects feedback received during discussions and legislative announcements following the initi
62% of Foreign Tourists from Daegu Head to Busan, Study Suggests Redefining Airport Roles
To alleviate the concentration of foreign tourists in the capital region and enhance local tourism, a study suggests leveraging Daegu Airport as a "dual gateway" for the Gyeongsang region. This approach aims to develop a regional inbound tourism hub linked with nearby areas, reflecting the actual movement patterns of foreign tourists rather than being constrained by administrative boundaries.According to a brief published by Yanolja Research on September 1, Daegu Airport's international arrival
Wife Killed by Husband After Reporting Domestic Violence Five Times
A woman in her 30s, who had reported domestic violence to the police five times and received a restraining order along with a smartwatch for protection, was killed by her husband during their divorce proceedings. Authorities are investigating the possibility that the victim's new address was exposed to her husband during the exchange of legal documents.On September 1, the Gyeonggi Gwangju Police arrested a man in his 30s, identified as A, on suspicion of murder. A is accused of stabbing his estr
Ruling Party Appoints New Committee Leaders Following Ministerial Nominations
The Democratic Party announced that Kim Seung-won and Lee So-young have been nominated as candidates for the Minister of Justice and the Minister of SMEs and Startups, respectively. In light of this, Kim Ui-gyeom and Choi Gi-sang have been appointed as new leaders of the National Assembly's Judiciary Committee and the Climate, Energy, Environment, and Labor Committee.Lee Joo-hee, the party's floor spokesperson, spoke to reporters after a party meeting on the afternoon of September 1, stating tha
Intellectual Property Office Proposes Record $610 Million Budget Focused on IP Monetization and Technology Protection
지식재산처가 2027년도 예산안으로 올해보다 12.7% 늘어난 7106억원을 편성했다. 지식재산(IP)의 수익화와 핵심기술 보호, 지역 IP 생태계 구축, 인공지능(AI) 기반 지식재산 행정 전환에 투자를 집중한다는 계획이다. 지식재산처는 2027년도 예산안을 올해 6308억원보다 798억원 증가한 7106억원으로 편성했다고 밝혔다. 지식재산처 출범 이후 처음으로 편성한 예산안으로 증가 규모는 역대 최대다. 특히 지식재산 창출·활용·보호 등에 직접 투입되는 주요 사업비는 올해 4146억원에서 내년 4731억원으로 584억원(14.1%
Seoul Unveils 100 Wellness Tourism Destinations
Seoul is developing urban relaxation and recovery spots as part of its 'Seoul Wellness Tourism 100' initiative. The plan aims to connect the city's strengths in healthcare, traditional medicine, beauty, gastronomy, and cultural arts with the tourism industry to attract high-value tourism demand. On September 1, the city announced that it selected the 'Seoul Wellness Tourism 100' from 217 candidates through public recruitment and recommendations from experts and citizens, following written evalua
Korea's Ministry of Land Allocates Record Budget of 69 Trillion Won for 2027
The Ministry of Land, Infrastructure and Transport has proposed a record budget of 69 trillion won for 2027, an increase of over 6 trillion won from this year. Of this amount, 30 trillion won is earmarked specifically for housing supply. The ministry aims to enhance housing stability and accelerate supply by focusing financial resources on new public rental housing and supporting early construction at project financing (PF) sites.According to the ministry, the 2027 budget plan totals 69 trillion
Madup Shares Surge 17% Following First Analyst Report
Madup's shares have surged nearly 17% following the release of a new corporate analysis report by a securities firm.According to the Korea Exchange, as of 1:28 PM, Madup's stock was trading at 8,950 won, up 1,350 won (17.76%) from the previous trading day. The stock opened at 8,260 won and reached a high of 9,600 won during the session.Madup, which went public on the KOSDAQ market on July 1, is an advertising agency that operates based on digital marketing artificial intelligence (AI) agents and