PGA Tour to Revamp Season Finale to Match Play Format Starting in 2028
The PGA Tour will conclude its season with a match play format starting in 2028.Brian Loughnane, CEO of the PGA Tour, announced on August 26 that the new Championship Series will feature a match play tournament for the top 32 players, marking the end of the season.The final event will span three weeks. The top 90 players in season points will first compete in a 72-hole stroke play event, the PGA Tour Championship Series finale, from which the top 32 will advance to the Tour Championship.The 90 p
Seoul National University Bundang Hospital Partners with Harvard to Develop Advanced Pancreatic Cancer Treatment Platform
Seoul National University Bundang Hospital announced on August 26 that it has been selected for the Ministry of Health and Welfare's 2026 Research-Centered Hospital Korea-U.S. Innovation R&D project. The hospital will collaborate with leading research institutions, including Harvard Medical School and UC San Diego, to develop an advanced treatment platform for pancreatic cancer.The project will be led by Professor Lee Jong-chan from the Department of Gastroenterology. It will receive a total of
National University Presidents Welcome Changes to Local Education Funding
In response to the government's restructuring of local education funding formulas, the National University Presidents Council has expressed strong support for the changes. The council, which consists of presidents from ten national universities, emphasized the urgent need for a rational redistribution of education finances to address the challenges faced by higher education, particularly after 18 years of frozen tuition rates. On August 25, the council released a statement welcoming the announce
Kangnam University Team Wins Top Prize at Mock Trade Committee Competition
Students from Kangnam University received the top award at a mock trade committee competition for college and graduate students.The Ministry of Trade, Industry and Energy held an awards ceremony and a meeting with winners on August 26 in Seoul for the '2026 College (Graduate) Student Mock Trade Committee.' The mock trade committee has been held annually since 2005 to enhance understanding of trade remedy systems among students and to raise public awareness of these systems.This year's competitio
Financial Commission Responds to WSJ's 'Frightening Rollercoaster' Assessment of Korean Stock Market
The Financial Commission has rebutted a Wall Street Journal (WSJ) report that labeled the Korean stock market as the 'world's craziest stock market,' stating that the domestic market is currently showing signs of stabilization. The commission noted that the KOSPI's rise this year ranks among the highest in major countries, and volatility has decreased from its peak.On August 25, the Financial Commission distributed materials explaining the current state of the domestic stock market in response t
Government to Compensate Farmers for Falling Crop Prices
The government will implement a crop price stabilization system that compensates farmers when the average price of key agricultural products falls below a set benchmark. The specific crops eligible for compensation and the rate of payment will be determined next month.The Ministry of Agriculture, Food and Rural Affairs announced on August 26 that the revised "Act on Distribution and Price Stabilization of Agricultural and Fishery Products" will take effect on August 27.The price stabilization sy
Retail Sales Rise 6.4% Amid Heat Wave and Vacation Season, But Supermarkets Struggle
Retail sales in South Korea increased by 6.4% in July, driven by a heat wave and the vacation season. However, large supermarkets and superstores continued to face challenges.According to the Ministry of Trade, Industry and Energy, total sales among major retailers rose 6.4% compared to the same month last year. Offline sales grew by 3.2%, while online sales surged by 8.5%.The ministry attributed the sales increase to higher demand for delivery services and travel-related purchases during the ho
Income Threshold for Agricultural Direct Payments Increased to 47 Million Won
The income threshold for farmers to receive area direct payments will increase from 37 million won to 47 million won. This adjustment, the first in 17 years, is expected to add approximately 10,000 farmers to the list of those eligible for direct payments.The Ministry of Agriculture, Food and Rural Affairs announced on August 26 that it has issued a revised notice on the 'comprehensive income amount standard outside of agriculture.'Area direct payments are restricted when a farmer's non-agricult
Government to Implement Rice Price Stabilization Measures Starting August 27
The government will implement measures to stabilize rice prices if production exceeds certain levels or prices decline. Legal grounds have been established to support farmers who grow non-rice crops and to manage appropriate rice cultivation areas in advance.The Ministry of Agriculture, Food and Rural Affairs announced on August 26 that the revised Grain Management Act and its subordinate regulations will take effect on August 27. The act was amended on August 26 of last year and underwent a yea
Kim Min-seok Appointed as Head of Democratic Party's Talent Committee
The Democratic Party of Korea has announced the appointment of Kim Min-seok as the head of its Talent Committee, along with other key political appointments. Representative Son Myung-soo has joined as the party's spokesperson. Additionally, Representative Kim Yong-man has been appointed as the chief of the party's Civil Affairs Office, which reports directly to the party leader.Park Sung-jun, the party's chief spokesperson, spoke to reporters after a Supreme Council meeting held in Andong, North