Constitutional Court Rules Foreign-Born Children in Korea Have Right to Birth Registration
The Constitutional Court has ruled that the lack of a system for registering the births of foreign children born in South Korea violates the constitution. This marks the second time the court has confirmed the unconstitutionality of the National Assembly's legislative inaction since its establishment, and it comes nearly 30 years after the first such ruling.On August 27, the court unanimously decided in a constitutional complaint filed by a Vietnamese national, referred to as A, and their child,
LS-LIG Collaborate to Expand Electric Bus Charging Infrastructure
LS Group and LIG Group are solidifying their collaboration in the electric bus charging infrastructure sector. LS E-Link, which has experience in commercial vehicle charging operations, and Dong-A Elecom, known for its power conversion technology, are teaming up to target the large electric vehicle charging market.On August 26, the two companies announced they signed a memorandum of understanding at the LS Yongsan Tower in Seoul to establish electric bus charging infrastructure and expand their
Schneider Electric's 'Impact 2030' Achieves 50 Million Tons Carbon Reduction in First Half
Schneider Electric has achieved 88% of its annual target just six months into its sustainability roadmap, 'Impact 2030.' The initiative not only focuses on reducing its own carbon emissions but also extends its decarbonization efforts to customers and the supply chain.'Impact 2030' operates on four pillars: global energy electrification, industrial innovation, talent development, and community support. Schneider Electric aims for a perfect score of 10 by 2030, having recorded a score of 3.69 in
Credit Unions' Asset Management Company to Acquire Bad Loans
The Credit Union's Asset Management Company will be able to acquire bad loans from financial institutions. This is expected to establish a systematic foundation for the swift resolution of non-performing loans held by credit unions.On August 27, the Financial Services Commission announced that it would propose amendments to the 'Lending Business Supervision Regulations' by October 6.The key aspect of this amendment is the inclusion of the Credit Union Asset Management Company as an institution e
Bank of Korea Raises Interest Rates Amid Government Loan Policy Changes
The Bank of Korea has raised interest rates while financial authorities have expanded loan availability, raising concerns that conflicting monetary and financial policies could diminish their effectiveness in managing household debt.On August 27, the Bank of Korea's Monetary Policy Committee increased the base rate from 2.75% to 3.00%, marking the second consecutive hike. This decision was driven by stronger-than-expected economic growth and inflationary pressures, alongside the rising household
NH Nonghyup Life Expands Community Support for Dementia Patients
NH Nonghyup Life is expanding its community activities to support dementia patients and their families.On August 27, NH Nonghyup Life announced that its Chungnam-Sejong headquarters has recently been certified as a 'Dementia Leading Company,' bringing the total number of certified locations nationwide to 12.Since becoming the first subsidiary of Nonghyup Financial to receive the Dementia Leading Company certification in 2017, NH Nonghyup Life has been increasing its certified locations across th
Korean Fintech Association Partners with WiseStone to Enhance AI Certification and Competitiveness
The Korean Fintech Association has partnered with WiseStone to support fintech companies in ensuring the reliability of artificial intelligence (AI) and software technologies.On August 27, the Korean Fintech Association announced that it signed a memorandum of understanding (MOU) with WiseStone at the O2 Tower in Yeouido, Seoul, aimed at promoting AI certification and enhancing the competitiveness of the fintech industry.Attendees at the signing ceremony included Kim Jong-hyun, President of the
Hiring in Oil and Energy Sectors Surges in Second Half of 2026, While Transportation and Food Services Lag
As domestic companies increase their hiring plans for the second half of the year, the hiring confirmation rate in the oil, chemical, and textile sectors has risen by more than 66 percentage points compared to last year.On August 27, Incruit announced the outlook for the hiring market during the '24th Incruit Recruitment Briefing' held at Korea University's SK Future Hall in Anam-dong, Seoul.An analysis of hiring plans from 600 domestic companies, including 74 large firms, 119 mid-sized companie
Ligand Pharmaceuticals' SOT106 Receives FDA Fast Track Designation, Clinical Trials to Begin This Year
Ligand Pharmaceuticals' antibody-drug conjugate (ADC) candidate SOT106 has received Fast Track designation from the U.S. Food and Drug Administration (FDA). The drug, developed by partner Sotio Biotech, is set to enter clinical trials with the first patient expected to be treated this year.On August 27, Ligand announced that Sotio's SOT106 (LRRC15-ADC) has been granted Fast Track designation for the treatment of soft tissue sarcoma. SOT106 is a candidate that applies Ligand's next-generation ADC
JYP Entertainment Faces Decline Amidst Industry Growth
"Now is the time. If you have spare money, I would definitely buy our company's stock looking three to five years ahead," said JYP Entertainment's largest shareholder and producer Park Jin-young in November 2023. At that time, the stock price was in the 90,000 won range, but as of August 2026, it has plummeted to the 30,000 won range. Recently, the company has also gained notoriety for having the highest number of downward target price reports among its peers.Since the beginning of the year, the