July Online Shopping Transactions Reach Record 25.95 Trillion Won
In July, online shopping transactions in South Korea reached 25.95 trillion won, driven by increased sales in food services, groceries, and automotive products.The National Data Agency reported on September 1 that last month's online shopping transactions rose by 7.3% compared to the same month last year, marking the highest monthly figure since the agency began tracking these statistics in 2017.Growth in transaction amounts was led by food services (up 8.9%), groceries (up 8.1%), and automotive
KOSPI Recovers Slightly Amid Semiconductor Gains Despite Foreign and Institutional Selling
The KOSPI index rebounded from early losses, showing slight gains as major semiconductor stocks like Samsung Electronics and SK Hynix turned positive. Despite a drop to the 6730 range due to renewed military conflict between the U.S. and Iran, the index managed to recover. In contrast, the KOSDAQ continued to decline by over 1% amid simultaneous selling by foreign and institutional investors.As of 1:10 PM, the KOSPI was up 4.46 points (0.07%) at 6824.48. After starting lower and hitting a low of
Ansan City Council Advances Health and Veterans Support Ordinances
The Ansan City Council has initiated measures to enhance citizen health and strengthen support for national veterans on September 1. According to the council, the 'Basic Ordinance for Healthy City Ansan,' proposed by Councilor Seol Ho-young, and the amendment to the 'Ordinance on the Treatment and Support of National Veterans,' proposed by Councilor Hyun Ok-soon, were both approved in their original form during the 305th temporary session of the Culture and Welfare Committee. Both ordinances are
Honda and Nissan to Jointly Develop Next-Gen Automotive Software
Honda and Nissan, which abandoned plans for a management integration last year, have agreed to jointly develop the "brain" of next-generation vehicles. This marks the first concrete outcome after 2.5 years of discussions that began in 2024. With competitors like Tesla and Chinese electric vehicle manufacturers advancing in enhancing vehicle performance through software, both companies felt a sense of urgency to compromise rather than risk falling further behind by sticking to independent paths.A
Elementary School Closed 20 Years Ago Transformed into Café Gallery
20 years after closing, an elementary school in Naju has transformed into a cultural tourism site. The former Namgyeongbuk Elementary School in Namgyeong-eup, Naju, has been renamed 'Namgyeong507' as a multi-cultural space. Namgyeongbuk Elementary School closed in 2007 and had been left unused for a long time. Naju City invested 2.45 billion won to remodel the site, aiming to revitalize tourism in the Namgyeong area, and opened 'Namgyeong507' in March. This project is part of the Namgyeong Stati
South Korean Government Allocates 850 Billion Won to Korea Electric Power Corporation
The South Korean government will provide a total of 850 billion won to the Korea Electric Power Corporation (KEPCO) next year. This includes a cash injection of 500 billion won to alleviate the interest burden from accumulated deficits, as well as 350 billion won in government support for electricity discounts for vulnerable groups and educational facilities that KEPCO has been covering.The Ministry of Climate, Energy and Environment announced on September 1 that the total expenditure for the 20
South Korea Allocates 700 Billion Won for Long-Term Debt Relief for Small Businesses
Government plans to invest 700 billion won to specially adjust long-term debts for small businesses affected by COVID-19. A new loan program, 'K-Living Support Loan,' will provide up to 1 million won to individuals with low credit scores.On September 1, the government approved the '2027 budget' during a Cabinet meeting. According to the budget proposal, the support for small businesses, farmers, and vulnerable workers will increase from 10 trillion won this year to 15.4 trillion won next year, a
South Korea Allocates 1.4 Trillion Won for Disease Prevention and Pandemic Preparedness
The Korea Centers for Disease Control and Prevention (KCDC) has announced a budget exceeding 1.4 trillion won for the upcoming year. This budget focuses on advanced vaccine research and development to prepare for the next potential pandemic and aims to enhance the quality of vaccines provided for free to youth and seniors.On September 1, KCDC revealed its 2027 budget plan of 1.4347 trillion won, an increase of 988 billion won (7.4%) from this year's budget of 1.3359 trillion won. The budget emph
South Korea to Allocate Record 152 Trillion Won for Welfare Budget in 2027
The South Korean Ministry of Health and Welfare has proposed a record budget of 152 trillion won for 2027. The budget aims to strengthen welfare support for low-income individuals facing economic hardships and to revitalize local hospitals that are at risk of collapse due to an influx of patients to metropolitan areas. Additionally, a new "Future Response Fund" will be established to provide substantial financial support to young families raising children.On September 1, the Ministry announced t
South Korea to Invest 21.3 Trillion Won in AI and Semiconductor Projects
The South Korean government plans to invest 21.3 trillion won in three major projects focused on artificial intelligence (AI) and semiconductors. This includes the purchase of 10,000 high-performance graphics processing units (GPUs) to support the development of independent AI models and the distribution of over 2,000 domestically produced AI robots in defense, police, firefighting, caregiving, and agriculture sectors.On September 1, during a Cabinet meeting chaired by President Lee Jae-myung at