Korea's Small and Medium Business Agency Seeks Participants for Startup Support Program
The Small and Medium Business Agency announced on the 23rd that it will begin accepting applications for the '2026 Restart Support Headquarters Startup Specialized Education and Consulting' program starting on the 24th.This initiative aims to strengthen the capabilities of entrepreneurs who are restarting their businesses and to support their successful re-entry into the market. The program focuses on addressing issues previously raised by restart businesses, such as the lack of external expert
Seoul Accelerates Construction of Shared Housing, Aiming for 40,000 Units by 2031
Seoul is set to accelerate its shared housing and shared town initiatives through a new plan called the 'Rapid Integration Plan for Shared Towns.' The plan aims to expedite construction by improving project management for existing developments and introducing a 'Shared Integration Planning' approach for new projects, allowing for simultaneous planning and establishment of associations to shorten project timelines.On August 23, the city announced that it plans to begin construction on 40,000 shar
Iran-linked hackers disrupt UK power plant operations for four days
Iranian-linked hackers have reportedly disrupted operations at a power plant in the UK for four days through a cyberattack.The Daily Telegraph reported on August 22 that this incident marks the first known case of Iranian hackers successfully targeting a power plant in the UK, leading to an actual shutdown.UK authorities have not disclosed the name or location of the affected power plant for security reasons. However, it is understood that the facility is small and did not impact the overall ele
Will Interest Rates Rise Above 3% Again? Experts Split on August Decision
Market expectations are divided ahead of the Bank of Korea's decision on the base rate for August. While a slight majority believe that an additional hike is necessary due to stronger-than-expected growth and high core inflation, the prospect of a back-to-back increase within just a month raises concerns about the burden on household interest payments.According to financial sources on the 23rd, the Bank of Korea will hold its sixth Monetary Policy Committee meeting of the year on the 27th to dec
SK Hynix Faces Union Vote on Performance Bonus Amid Cash vs. Stock Debate
SK Hynix's tentative agreement for the 2026 wage and collective bargaining negotiations is set to face a decisive test among union members. A key point of contention is the method of performance bonus distribution, with management proposing a 'stock-linked' compensation plan that clashes with the union's strong preference for cash.According to industry sources, the production workers' union at SK Hynix in Icheon and Cheongju will conduct a two-day vote starting August 24 on the tentative agreeme
Kakao Splits into AI and Investment Divisions Under New Leadership
Kakao announced on August 21 that it will split its business into two divisions: artificial intelligence (AI) and investment. The existing Kakao will remain as the holding company 'Kakao AI,' while the investment-related operations will be separated into a newly established entity called 'Kakao X.'The investment division will be led by Chief Investment Officer Kim Do-young, while the AI division will be headed by Jeong Sin-a. The success of this split hinges on the performance of both leaders in
Hanwha Group Donates 3 Billion Won for Flood Recovery in Gyeongnam
Hanwha Group announced on August 23 that it will donate 2 billion won to the National Disaster Relief Association to assist in the rapid recovery of areas in Gyeongnam, including Geoje, Tongyeong, and Sacheon, which have suffered significant damage from recent heavy rains. Considering the severe impact, Hanwha has decided to provide funds to ensure prompt assistance for emergency living expenses, temporary housing, and essential supplies for local residents. In addition to the flood recovery sup
Rising Treasury Yields Raise Concerns Over Interest Rate Cycle
The likelihood of an additional interest rate hike by the Bank of Korea is increasing, which is expected to intensify upward pressure on government bond yields. Rising government bond yields can lead to higher market interest rates, increasing the cost of financing for both businesses and households. This is particularly concerning as companies face greater burdens from refinancing corporate bonds and financing costs for real estate project financing (PF) projects.According to the Seoul bond mar
Debate Over Prosecutorial Discretion in President Lee Jae-myung's Cases
The issue of whether to drop charges against President Lee Jae-myung has become a contentious topic in multiple criminal trials.Many citizens argue that "no one is above the law" and that the president should not be an exception. Conservative politicians have expressed strong opposition, stating that dropping charges would signify the "end of the regime," be grounds for impeachment, and constitute a crime of legal distortion. Conversely, a significant number of citizens and some members of the D
Vietnam Defeats Thailand 2-0 in ASEAN Cup Final First Leg
Vietnam took a significant step toward winning the 2026 ASEAN Cup by defeating Thailand 2-0 in the first leg of the final held in Bangkok. Coach Kim Sang-sik's strategic substitutions led to goals from Nguyen Hai Long and Nguyen Quang Hai in the second half, marking him as the most successful coach against Thailand.According to local media, including Bongda.com, the Vietnamese national team triumphed over Thailand at the Rajamangala Stadium on August 22. Nguyen Hai Long scored the opening goal i