Debate Over Free Tuition Policy Shakes Higher Education in South Korea
The foundation of regional universities is being shaken amid a declining school-age population and a concentration of students in the capital area. The government recently announced plans to fully subsidize tuition for new students at 30 national universities outside the capital using excess tax revenue from the semiconductor industry. In response, regional private universities have expressed strong opposition, claiming that this policy threatens their survival and leads to student poaching. Ajo
Mid-sized Housing Companies to Supply Nearly 10,000 Homes in September
Mid-sized housing companies are set to supply nearly 10,000 homes nationwide next month. The increase in supply in the metropolitan area has more than doubled compared to both the previous month and the same month last year.The Korea Housing Association reported on August 31 that 18 member companies plan to supply a total of 9,951 homes across 19 projects in September 2026.This marks an increase of 5,328 homes from the 4,623 units offered in the previous month, representing a growth rate of 115.
China May Restrict Rare Earth Exports in Response to U.S. Sanctions on Banks
Speculation has arisen that if the United States imposes sanctions on Chinese banks to enforce economic restrictions against Iran, China may respond by tightening its rare earth exports.On August 27, President Donald Trump, speaking to reporters at the White House, was asked whether he would sanction Chinese banks that conduct business with Iran. He replied, "Who said I’m not doing it?" He added, "You don’t know if I’m imposing sanctions or not," suggesting the possibility of sanctions as part o
SK Group Chairman Choi Tae-won Considers Semiconductor Joint Venture in Japan
Choi Tae-won, chairman of SK Group, announced on August 31 that SK Hynix is considering establishing a semiconductor joint venture in Japan for memory chip production.According to Bloomberg, Choi made the remarks during a meeting of the Korea-Japan Chamber of Commerce held in Sendai, Japan. He stated that the company is looking at locations across Japan, saying, "We are considering anywhere with abundant power and water." However, he did not respond to questions regarding potential partners or s
One Store Launches Global Service in 122 Countries, Expands AI and Blockchain Game Distribution
App market One Store is accelerating its global market strategy. It officially launched 'One Store Global' in 122 countries and introduced the direct-to-consumer (D2C) payment platform 'One Shop,' aiming to expand its global business in game and content distribution as well as payments.On August 31, One Store announced the official opening of One Store Global and One Shop. One Store Global will begin services in 122 countries worldwide, including North America, Latin America, and Asia, with over
The Origin of the Term 'Insurance'
The term 'insurance' refers to a contract in which one party agrees to pay a premium, and in return, the other party promises to provide a certain amount of compensation or benefits in the event of an uncertain accident affecting property, life, or health (Commercial Code Article 638). In Chinese, it is written as '保險', and in English, it is 'Insurance'. The dictionary definition of Insurance aligns with the meaning of '보험' in Korean. When the concept of Insurance was imported from the West,
IBK Industrial Bank Announces Public Recruitment for 175 New Employees
IBK Industrial Bank is launching a public recruitment for new employees in the second half of this year.The bank announced on August 31 that it will hire 175 new employees in the second half of the year, following the recruitment of 160 new employees in the first half. This brings the total planned recruitment for the year to 335 young talents.The recruitment will cover four areas: general finance (130 positions), digital (5 positions), information technology (IT) (25 positions), and high school
Saemaul Geumgo to Provide 1.1 Trillion Won in Loans to Social Enterprises and Small Businesses
Saemaul Geumgo will provide a total of 1.1 trillion won in loans to social enterprises, cooperatives, local small businesses, and vulnerable groups. This initiative aims to enhance inclusive finance by expanding funding for borrowers in financial blind spots.The Saemaul Geumgo Central Association announced on August 31 that it will launch a special guarantee loan product for social solidarity economy organizations starting September 1.This product will be implemented through a contribution of 10
Surge in Loans for Self-Employed Individuals in Their 30s and 40s Amid Economic Struggles
A 40-year-old man in the livestock distribution business turned to illegal lending as his financial situation worsened due to management difficulties. He borrowed a total of 15 million won from seven lenders. The repayment structure required him to pay back the principal and high-interest rates in a short period, but after some repayments were delayed, he faced threats and verbal abuse. Eventually, he sought help at the Financial Supervisory Service's illegal lending victim reporting center and
Seongnam Mayor Shin Sang-jin: Swift Action on Redevelopment to Fulfill Residents' Long-standing Wishes
Seongnam Mayor Shin Sang-jin praised the recent designation and announcement of maintenance zones on August 31, stating, "This is the result of concentrating administrative efforts to swiftly advance the redevelopment project, which has been a long-standing wish of the residents."Mayor Shin noted that the procedures for designating maintenance zones for five redevelopment areas, including Sujin 2 District, were expedited, completing the designation and announcement approximately 11 months after