Cheon Ha-ram Apologizes for Party's Recent Struggles, Vows to Continue Independent Path
Cheon Ha-ram, the acting leader of the Reform Party and floor leader, apologized on August 31 for causing deep disappointment and concern among the public and party members due to the recent turmoil within the party. He announced plans to continue on an independent path while preparing for the upcoming party convention to elect new leadership.During a press conference at the National Assembly, Cheon stated, "I sincerely bow my head in apology to everyone who has been watching the Reform Party's
Goldman Sachs and CLSA Join NextTrade, Expanding Foreign Brokerage Participation
Foreign brokerage firms are increasingly participating in the alternative trading system NextTrade (NXT). Following the recent additions of Morgan Stanley and Merrill Lynch, Goldman Sachs and CLSA Korea have joined this month, expanding the trading base for foreign investors in South Korea.On August 31, NextTrade announced that it approved the membership applications of Goldman Sachs' Seoul branch and CLSA Korea on August 28.Both firms plan to complete the implementation of a Smart Order Routing
Youth Overcoming Job Search Challenges: Labor Ministry Selects 26 Exemplary Cases
A competition will be held to share the experiences of young people who have overcome job search abandonment and social isolation to re-enter the workforce. The Ministry of Employment and Labor announced on August 31 that it will host the 'Exemplary Case Competition for the Youth Advancement Support Project and Youth Growth Project' from September 1 to 30. Participants can include young people involved in the two projects and the organizations that operated the programs. They can submit experien
Labor Department to Monitor 8,000 Wage Violating Businesses Before Chuseok
The government will intensively monitor 8,000 businesses, including high-risk construction sites, that have repeatedly reported wage arrears ahead of Chuseok. If significant wage violations occur, local labor office heads will directly oversee the resolution.The Ministry of Employment and Labor announced on August 31 that it will operate a 'Wage Arrears Intensive Settlement Guidance Period' from September 1 to 23.Last year, the total amount of wage arrears reached 2.0679 trillion won, a 1.1% inc
Government Seeks Companies Reducing Harmful Substances in Green Chemistry Contest
The government is looking to identify companies that have reduced the use of harmful substances in industrial settings by utilizing low-toxicity alternatives and technologies.On August 31, the Ministry of Climate Energy and Environment announced that it will hold the 'Green Chemistry Best Practices Contest' in collaboration with the Korea Environmental Preservation Agency.This contest aims to move away from traditional methods of managing and handling chemical accidents by finding cases that hav
Financial Supervisory Service to Present Consumer Protection Achievements at Public Forum
The Financial Supervisory Service (FSS) will publicly share the results of its consumer protection policies and gather feedback on future improvements. The FSS announced on August 31 that it will hold a 'Public Forum on Consumer Protection Achievements' on September 17 at its headquarters in Yeouido, Seoul. The event is expected to attract around 250 participants, including financial consumers, industry representatives, external experts, and FSS employees. This forum aims to share the progres
Semiconductor Bonuses Boost Consumption by 1.1 Trillion Won, Projected to Lift Growth Rate by Up to 0.09% Next Year
As bonuses from the semiconductor boom translate into increased spending, consumption in semiconductor beneficiary regions such as Icheon, Hwaseong, and Cheongju has risen by as much as 4% compared to non-beneficiary areas. From last year to June of this year, the cumulative increase in consumption reached 1.1 trillion won. If this trend continues, it is expected to grow to 1.7 trillion won by the end of the year.Looking ahead to next year, the bonuses from Samsung Electronics and SK Hynix are p
24-Hour Chatbot Service for Noise Complaints Launches
A 24-hour chatbot service will be available to guide residents on how to address conflicts arising from floor noise.The Ministry of Climate, Energy and Environment announced on August 31 that it will launch the 'Interactive Automated Consultation Chatbot for Floor Noise' starting September 1.Previously, when conflicts over floor noise occurred, residents could seek in-person consultations and noise measurements through the 'Neighbor Noise Center' operated by the Korea Environment Corporation. Ho
Song Seok-eon: JDC Must Move Beyond Civil Development for New JDC
“While we have established systems and facilities such as international schools and medical tourism, Jeju's own internationalization has not yet been achieved. We need to undertake projects that align with JDC's core identity, separate from development projects.”Song Seok-eon, the chairman of the Jeju International Free City Development Center (JDC), made these remarks during a press conference held on August 28 at the Jeju Science and Technology Park. He explained the concept of 'New JDC,' whic
Japan's Consumer Spending Declines Amid Record Heat
During the sweltering summer, people often seek cold drinks and ice cream at convenience stores to cool off. After wiping away sweat and sipping a refreshing beverage, they head home to turn on the air conditioning. This surge in demand for cooling products is known as the 'heat wave effect.'In Japan, the impact of the heat wave effect on summer product sales has become evident. An analysis by the Japan Meteorological Association and market research firm Intage revealed that for every 1 degree C