Chinese Nationals Exploit Pension System for Lifetime Benefits
A recent case of foreign nationals making a one-time payment for ten years' worth of pension contributions after just one month of work has sparked controversy in South Korea. This practice allows them to receive a lifetime old-age pension.On August 26, a post by an employee of the National Pension Service appeared on the anonymous workplace community 'Blind.' The author expressed frustration, stating, "Chinese nationals are applying for pensions in droves. Our children will have to support not
Civil Society Voices Concerns Over Expanded NIS Surveillance Powers
The National Intelligence Service (NIS) is facing scrutiny as high-ranking officials, including the NIS director, have been indicted over allegations of involvement in the December 3 martial law. Civil society groups have expressed strong concerns regarding proposed amendments to expand the NIS's surveillance powers.The NIS Monitoring Network, composed of the Lawyers for a Democratic Society and the Participatory Budgeting Network, held an emergency press conference on August 26 in front of the
China Aims to Develop 25T Superconductor by 2030 for Fusion Energy
China has announced its goal to produce a prototype of a 25T (Tesla) high-temperature superconducting magnet by 2030.This vision was revealed at the 2026 Fusion Energy Conference held in Shanghai on August 25, as reported by the Chinese news outlet The Paper on August 26. The conference saw the formation of a 'fusion consortium' led by the state-owned China National Fusion Energy (聚變能源), with participation from eight entities including Shanghai Superconductor, Eastern Superconductor, and Sha
Korean Won Falls to Early 1380s Against US Dollar, Expected to Drop Further
The won-dollar exchange rate remains in the 1380s.On August 26, in the Seoul foreign exchange market, the exchange rate for the won against the US dollar was 1,385.0 won as of 10:23 a.m. The rate recorded a decrease of 3.4 won from the previous day's closing price, settling at 1,382.7 won as of 6 a.m.This decline is attributed to expectations of reduced military tensions between the U.S. and Iran, which have led to weaker oil prices and a weaker dollar.On August 25 (local time), reports emerged
Korean Association of Radio Policy Advocates Linking Frequency Fees to Telecom Investments and Quality
Experts are calling for a reform of the frequency allocation fee system to link it with telecom companies' investments, coverage, and quality performance, while also considering revenue and capital expenditures.On August 25, Hyun-seop Byun, a professor at Hallym University, made this statement at a comprehensive academic conference on 'Radio Policy Directions Following the Spread of Artificial Intelligence (AI)' held at Korea Aerospace University.Byun noted, "If frequency allocation fees are set
LG CNS Introduces Next-Generation Liquid Cooling at Samsong Data Center
LG CNS announced on August 26 that it is partnering with Naver Cloud to establish a next-generation cooling infrastructure using liquid cooling technology. As the demand for generative artificial intelligence (AI) increases, leading to higher power consumption and heat generation from high-performance graphics processing units (GPUs), the company is proactively implementing large-scale liquid cooling technology to complement existing air cooling methods in data centers.In collaboration with Nave
IBK Industrial Bank Appoints First External Executive as Head of Overseas Branch
IBK Industrial Bank has appointed an external expert as the head of its overseas branch for the first time since its establishment. This move is seen as a way to enhance local expertise in global operations and bring about organizational change. The bank announced on August 26 that it has appointed Jang Ji-kyu as the new head of IBK Indonesia Bank through an open recruitment process for executive positions. This marks the first time IBK has selected an external candidate for an overseas branch
Russian Military Aircraft Enters KADIZ, Departing After Brief Incursion
Russian military aircraft entered South Korea's Air Defense Identification Zone (KADIZ) on the afternoon of August 25 and subsequently departed. This marks the first entry of Russian military aircraft into KADIZ since June 27, approximately two months ago.The Joint Chiefs of Staff (JCS) reported on August 26 that "several Russian military aircraft entered and then exited the eastern KADIZ," adding that there was no violation of South Korean airspace.The JCS further stated, "Our military detected
Hanwha Shares Surge 17% on First Day of Trading After Split
Hanwha, which saw its shares jump over 17% on the first day of trading following its spin-off, entered a period of consolidation in early trading the next day. Analysts suggest that despite the short-term surge, the stock still has significant upside potential due to its high discount rate compared to net asset value (NAV).As of 10:13 a.m. on the Korea Exchange, Hanwha shares were trading at 118,200 won, up 0.08% (100 won) from the previous trading day.On the previous day, Hanwha closed at 118,1
KakaoBank Issues 700,000 Mobile IDs in One Year
KakaoBank's mobile ID is rapidly gaining popularity due to its convenience.On August 26, KakaoBank announced that the cumulative issuance of its mobile ID, launched in July of last year, has reached 700,000.The mobile ID serves as a digital identification that can be used in place of a physical ID at banks, hospitals, government offices, and domestic flights. Customers with a physical ID containing an IC chip can obtain the mobile ID through the KakaoBank app.KakaoBank cited increased accessibil