KB Financial Group Narrows Down Next Chairman Candidates to Three
KB Financial Group is accelerating the selection process for its next chairman by narrowing the candidate pool to three. The decision on whether current Chairman Yang Jong-hee will be reappointed is a key focus, especially with the recent initiation of a special tax investigation by the National Tax Service into KB Kookmin Bank, which could serve as a last-minute variable.According to the financial sector on the 26th, the KB Financial Chairman Candidate Recommendation Committee (CRC) plans to co
Samsung Electronics Unveils Next-Gen Portable SSDs 'P9' and 'P7' with Double the Speed
Samsung Electronics has introduced new portable solid-state drives (SSDs) featuring the next-generation USB4 interface, which doubles the data transfer speed compared to previous models.On August 26, during the world's largest gaming exhibition, Gamescom 2026, held in Cologne, Germany, Samsung unveiled the next-generation portable SSDs, 'P9' and 'P7'.The new P series consists of the professional flagship model P9 and the consumer-oriented P7. Samsung has emphasized 'Peace of Mind' as the product
Renewable Energy to Expand to 220 GW by 2040, with Solar Power at 155 GW and Offshore Wind at 45 GW
The government has unveiled a plan to expand operational renewable energy capacity to 220 GW by 2040, nearly six times the 37 GW capacity recorded last year. This initiative aims to meet the surging electricity demand from artificial intelligence (AI) data centers and semiconductor mega-clusters while phasing out coal power by 2040.The Ministry of Climate, Energy, and Environment and the 12th Basic Plan for Power Supply and Demand held the 6th public forum on August 26 at the Korea Electric Powe
Southern Regions to See Up to 10% Reduction in Industrial Electricity Rates
The South Korean government plans to lower industrial electricity rates in regions with high power production to encourage local investments. In the southern regions, rates will decrease by up to 18 won per kilowatt-hour, while the southern metropolitan area, which has concentrated power demand, will maintain current rates. This initiative aims to distribute power demand more evenly and reduce the burden of long-distance transmission network construction.On August 26, the Ministry of Climate, En
SK Biopharm Bets $1.1 Billion on Epilepsy Drug Opakalim, Aiming for Blockbuster Success
"We will become a company with two blockbuster epilepsy drugs, following Exkopia with the introduction of Opakalim," said Lee Dong-hoon, CEO of SK Biopharm, during an emergency press conference held on August 26 at the Westin Chosun in Seoul. He added, "We are entering a completely new phase of direct sales in the U.S. market with multiple products," expressing confidence in demonstrating what true big biotech is.On the same day, SK Biopharm announced that it has signed a global exclusive licens
Jang Dong-hyuk Emphasizes Public Sentiment as He Marks One Year as Leader of People Power Party
Jang Dong-hyuk, leader of the People Power Party, declared on August 26 that he aims to "navigate into the sea of public sentiment" as he reaches the halfway point of his two-year term. He intends to build on his emphasis on a "party member-centered" approach to elevate the party into a "people's party." The success of Jang's vision for "People Power Party 2.0" will likely hinge on his ability to quell internal calls for resignation and unify the party for a cohesive front against the opposition
Gwangju City to Transfer Some Metropolitan Duties to Local Governments
Gwangju City has decided to transfer some metropolitan duties to 27 local governments and is establishing a framework for this transition. On August 26, Gwangju City announced a legislative notice for the 'Ordinance on the Transfer of City, County, and District Duties.' The ordinance outlines plans to transfer responsibilities and authority previously handled by the metropolitan government to local city, county, and district administrations. The principle is that duties closely related to reside
Korea Housing Finance Corporation Freezes Home Loan Rates at 3.90% for September
The Korea Housing Finance Corporation has announced that it will freeze the interest rate for its home loan program in September. Following a 0.30 percentage point increase in July, the rates will remain unchanged for the second consecutive month.The corporation stated on August 26 that the interest rate for the long-term, fixed-rate, amortized home loan, known as the Bogumjari Loan, will be held steady. As a result, the 'Akkimee-Bogumjari Loan' rates will range from 4.90% to 5.20% depending on
U.S.-Iran Ceasefire Agreement Expected Amid Economic Sanctions and Diplomatic Mediation
As speculation grows about a ceasefire agreement between the United States and Iran, signs of easing tensions are emerging, including an agreement between Iran and Oman to normalize navigation in the Strait of Hormuz. The U.S. has indicated it will focus on economic sanctions rather than additional military operations against Iran for the time being, raising questions about the potential restoration of a memorandum of understanding (MOU) that fell through in June, amid diplomatic efforts from me
SF9 Celebrates 10th Anniversary with New Album 'TENACITY'
"Thanks to the many people who have supported us over the past 10 years, we are looking forward to seeing our journey continue to the 60th anniversary. We want to show that we are a team with determination and ambition." (Inseong)The group SF9, celebrating its 10th anniversary, has made a grand return with its second studio album, 'TENACITY,' which aims to quench a long-standing thirst for new music. The album encapsulates the group's perseverance and determination, promising another remarkable