Former Presidential Aide Sentenced to 18 Months for Drafting Post-Hoc Martial Law Document
Kang Ui-goo, a former aide in the presidential office, was sentenced to 18 months in prison for drafting a post-hoc martial law declaration during the emergency martial law period. The Seoul High Court's Criminal Division 12-3, presided over by judges Kim Min-a, Lee Seung-cheol, and Jo Jin-goo, upheld the initial ruling on August 24, sentencing Kang to the same term of 18 months for charges including forgery of official documents. The court found that Kang created the cover document for the mart
Skilled Workers Compete in 51 Categories at National Skills Competition
Incheon is hosting 1,677 skilled workers from across the country who will compete in 51 categories, including industrial robots, cloud computing, welding, and baking.The Ministry of Employment and Labor announced on August 24 that the 61st National Skills Competition will take place until the 28th at six venues in Incheon, in collaboration with the Incheon Metropolitan City and the Incheon Metropolitan Office of Education.This year's event features 1,677 representatives from 17 provinces and cit
KAMCO Moves to Issue 50 Billion Won in Asset-Backed Securities for Troubled Mortgages
The Korea Asset Management Corporation (KAMCO) is set to issue 50 billion won in asset-backed securities (ABS) based on troubled housing loans held by financial institutions. This marks the first time KAMCO has sought to securitize only troubled mortgages. While the specific structure for bond acquisition and risk sharing has yet to be determined, this move is seen as an attempt to expand beyond its traditional reliance on internal funds for acquiring non-performing loans.According to financial
Over 92% of Policy Research Contracts by Finance Ministry Awarded Without Competition
More than 92% of the policy research contracts issued by the Ministry of Finance were awarded without competitive bidding. Despite calls from the National Assembly to improve the practice of direct contracts and the confidentiality of research results, the proportion of such contracts has actually increased compared to the previous year.According to a report by the National Assembly Budget Office analyzing government actions regarding the 2024 fiscal year settlement, 69 out of 75 policy research
Government Housing Policy Shifts Focus to Seoul and Surrounding Areas
The South Korean government's housing policy is increasingly focused on Seoul and the surrounding metropolitan area. Following the August 13 measures, which announced plans to supply over 230,000 additional homes in the capital region, discussions are underway regarding the use of some land in Yongsan Park for housing development. In contrast, the situation in regional markets varies significantly, yet the government continues to apply a one-size-fits-all approach aimed at resolving unsold homes
Heat Wave Persists Despite Seasonal Change: When Will It End?
"The saying that the heat subsides after Chuseo does not seem to hold true this year."Although August 23 marks Chuseo, a seasonal point when summer heat is expected to wane, temperatures across the country are forecasted to exceed 30 degrees Celsius. In fact, rising humidity may make the heat feel even more intense than the actual temperatures.Heat Advisory Continues with Highs of 34 Degrees on ChuseoAccording to the Korea Meteorological Administration, the morning low temperatures on Chuseo wil
AI Revolutionizes Game Development, Empowering Users as Creators
Generative artificial intelligence (AI) is lowering the barriers to game development, ushering in an era where players can create and enjoy their own games. The rapid spread of 'Vibe Coding,' which uses AI to write code, is driving this change. Agile game companies are developing platforms that allow users to create games based on their intellectual property (IP).According to the gaming industry on August 24, Nexon’s blockchain subsidiary Nexspace and other domestic game companies are working to
Controversy Erupts Over Indictment of Former National Intelligence Official
The second special prosecutor team, led by Kwon Chang-young, has sparked controversy by indicting Hong Jang-won, a former first deputy director of the National Intelligence Service (NIS), who previously acted as a whistleblower following the martial law declared on December 3. This decision diverges from the findings of the special prosecutor team investigating the martial law allegations, led by Jo Eun-seok, and is expected to play a significant role in evaluating the overall results of the spe
Police: Investigation into Allegations of Sexual Services for Soccer Referees Difficult Due to Expired Statute of Limitations
Police have determined that an investigation into allegations of sexual services provided to foreign referees by the Korea Football Association is effectively impossible due to the expiration of the statute of limitations.According to Yonhap News, Park Jeong-bo, head of the Seoul Metropolitan Police Agency, stated at a regular press briefing on August 24 that the statute of limitations has clearly expired, making further investigation unlikely. He added that they are examining whether there are
Shirin Emira, President of Mercedes-Benz Korea, Announces 11 New Models for South Korea
Shirin Emira, President of Mercedes-Benz Korea, is set to accelerate the company's push into the luxury car market by introducing 11 new models in South Korea this year. Alongside this new vehicle rollout, the company aims to establish its recently introduced direct sales system (ROF) and enhance consumer trust.During a media event on August 19 in Yeongwol, Gangwon Province, Emira stated, "We will showcase 11 models in the South Korean market this year," adding that the lineup will include a var