Changwon Revises Public-Private Bus Partnership After Five Years
Changwon City is set to revise its public-private partnership for city buses five years after its implementation.The city has outlined three main innovation directions: financial stability, citizen satisfaction, and coexistence. However, the need for reform stems from the growing financial burden each year. Since the introduction of the partnership, the city's financial support has increased by 28.4 billion won, with a significant portion of this increase attributed to driver wages.On August 25,
Miridi Partners with Sturning to Enhance Design Services for Businesses
Miridi announced on August 25 that it has signed a memorandum of understanding (MOU) with Sturning, which operates the design expert connection platform Loudsourcing.The agreement aims to address the demand from companies seeking to commission professional designers for logo development and customized brand design.Miridi, which runs Miricanvas and Bizhouse, plans to significantly expand its corporate branding infrastructure by combining its B2B network and design capabilities with Sturning's poo
New York Stock Exchange Closes Mixed as Tech Stocks Weaken
On August 24, the New York Stock Exchange closed mixed as weakness in major tech stocks offset the impact of falling U.S. Treasury yields.According to the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose by 140.15 points (0.26%) to close at 53,417.16. The S&P 500 index fell by 21.51 points (0.28%) to finish at 7,652.86, while the Nasdaq composite dropped by 200.26 points (0.77%) to end at 25,980.19.CNBC reported that the decline in semiconductor stocks weighed heavily on the
Korean Education Council Urges Early Application Preparation for 2027 Admissions
Starting September 7, the application process for early admissions to four-year universities and colleges in South Korea for the 2027 academic year will begin. The Korean Council for University Education (KCUE) has advised students to prepare their common applications in advance to avoid overwhelming traffic at the deadline.According to the KCUE, the application period for four-year universities will run from September 7 to 11, with each university conducting admissions for at least three days.
Direct Sales of Ethanol for Soju to Increase Fivefold Next Year
Starting next year, the amount of ethanol allowed for direct sales, a key ingredient in diluted soju, will increase fivefold compared to current levels. This move aims to lower barriers for outside companies entering the municipal waste collection and transportation market, which has been plagued by monopolistic practices among a few local firms.The Fair Trade Commission announced on August 25 that it has finalized plans for regulatory improvements aimed at enhancing competition, following consu
New Household Loans Decline in Q2 Amid Tightened Lending Regulations
As banks tighten lending management, new household loans per borrower have decreased in the second quarter. Mortgage loans have also declined, particularly in the metropolitan area.According to the Bank of Korea's 'Household Debt Statistics by Borrower' released on August 25, the average new household loan amount per borrower in the second quarter was 34.14 million won, down 1.28 million won from the previous quarter. This marks the lowest level since the first quarter of 2023.After a decrease o
One in Ten Seniors in South Korea Receive No Pension, Average Monthly Benefit Falls Short of Minimum Living Costs
One in ten South Koreans aged 65 and older do not receive any pension, and the average monthly benefit for pension recipients is 737,000 won, which is below the minimum living cost. Notably, the gap in pension amounts between men and women exceeds 400,000 won, highlighting ongoing disparities in retirement income based on gender.According to the '2024 Pension Statistics' released by the National Data Agency on August 25, 2026, among the 10 million people aged 65 and older last year, 9,122,000 re
42% of Corporate-Owned Luxury Homes Used for Personal Purposes; Tax Agency Targets 1.9 Trillion Won in Evasion
Nearly 42% of the luxury homes owned by corporations are being used as residences or vacation homes for their owners, according to the National Tax Service (NTS). The agency is investigating 50 companies suspected of tax evasion through the personal use of corporate housing, including the use of fictitious payroll and false invoices.On August 25, the NTS announced it has launched tax audits on these 50 companies, with the total amount of suspected tax evasion estimated at approximately 1.9 trill
KAIST President Baechung-sik Announces AI Integration Across All Courses
Baechung-sik, the president of KAIST, is set to transform the five major innovation strategies announced at his inauguration into actionable projects. The university will focus on comprehensive innovations in education, research, entrepreneurship, administration, campus development, and internationalization, all centered around artificial intelligence (AI). On August 24, during a press conference in Gwanghwamun, Seoul, President Baechung-sik unveiled the five development strategies: Beyond AI, B
FST Expands CNT Pellicle Production Equipment in Finland for Samsung's 2nm Process
Semiconductor pellicle company FST is set to acquire additional carbon nanotube (CNT) pellicle production equipment from Finland's Canatu. This move is seen as a preparation to increase production capacity for CNT pellicles to be used in Samsung Electronics' 2-nanometer (nm) foundry process. Analysts suggest that the CNT pellicle business is transitioning from technology development to mass production.According to investment banking sources on August 25, FST has placed an order for the CNT100 SE