Credit Card Loans Decline for Two Consecutive Months Amid Increased Refinancing and Cash Services
Due to strengthened management of household loans by financial authorities, the outstanding balance of credit card loans in South Korea has decreased for two consecutive months. In contrast, refinancing loans and cash services have seen increases, indicating ongoing repayment burdens for vulnerable borrowers.According to the Korea Credit Finance Association on August 20, the outstanding balance of credit card loans from nine major card companies (Samsung, Shinhan, Hyundai, KB Kookmin, Lotte, Woo
KakaoBank Launches Service to Easily Find and Apply for Volunteer Activities
KakaoBank announced the launch of its 'Find Volunteer Activities' service, allowing users to search and apply for volunteer opportunities directly through its app.This service is notable for integrating public volunteer-related services via the Ministry of the Interior and Safety's 'Digital Service Opening' initiative.Users can access information from three services: the '1365 Volunteer Portal,' 'e-Youth Youth Volunteer Dovol,' and 'Social Welfare Volunteer Certification Management (VMS)' all in
Korean National Assembly Passes Bill to Set Fair Value for Mergers
The National Assembly has passed a bill amending the Capital Markets Act to determine the merger value of listed companies based on 'fair value' rather than market price at a specific point in time. This change aims to prevent controlling shareholders from intentionally lowering stock prices to create favorable merger conditions, thereby enhancing protection for minority shareholders.According to the Financial Services Commission on August 20, the amendment to the Capital Markets and Financial I
Yeosu's Employment Crisis Response Area Extended for One Year; Dangjin Newly Designated
The designation period for Yeosu, a city in South Jeolla Province facing a downturn in the petrochemical industry, as an employment crisis response area will be extended for one year. Dangjin, a city in South Chungcheong Province, has been newly designated as a response area due to job losses primarily in the steel and metal product manufacturing sectors.On August 20, the Ministry of Employment and Labor held the 6th Employment Policy Council of 2026, chaired by Minister Kim Young-hoon, where th
BBQ Donates 100 Million Won to South Korean National Team for Asian Games
제너시스BBQ 그룹이 2026 아이치-나고야 아시안게임에 출전하는 대한민국 국가대표 선수단에 격려금 1억원을 전달했다. BBQ는 충북 진천 국가대표선수촌에서 열린 2026 아이치-나고야 아시안게임 미디어데이에 앞서 국가대표 선수단의 선전을 기원하는 격려금 1억원을 전달했다고 20일 밝혔다. 행사에는 윤홍근 제너시스BBQ 그룹 회장과 유승민 대한체육회장 등이 참석했다. 이번 지원은 아시안게임을 앞두고 훈련 중인 선수들을 격려하기 위해 마련됐다. BBQ는 지난달에도 진천 국가대표선수촌을 찾아 선수와 코칭스태프 약 500명에게
Debate Erupts Over Chief Justice's Written Recommendation for Supreme Court Nominees
Cho Hee-dae, the Chief Justice of South Korea, has submitted a written recommendation for Supreme Court nominees to President Lee Jae-myung, prompting a divide between conservative and progressive lawyer groups.The conservative group, the Lawyers' Association for Human Rights and Unification of Korea, stated on August 20 that the controversy surrounding Cho's written recommendation is "merely a practice and not a legal obligation."Hanbyeon asserted, "The power to recommend Supreme Court justices
Recovery Efforts Accelerate in Geoje and Tongyeong Following Heavy Rain
Emergency recovery efforts in Geoje and Tongyeong, which suffered significant damage from record rainfall, are gaining momentum.Gyeongnam Province has mobilized 7,301 personnel, including public officials, military, police, firefighters, and volunteers, along with 1,109 pieces of equipment to restore infrastructure such as roads and water supply systems. The goal is to complete the restoration of public water facilities by the end of today. However, approximately 2,000 households remain without
OpenAI's ChatGPT Work Surpasses 10 Million Users, Targets Business Sector
OpenAI is targeting the business and knowledge work market with its ChatGPT Work, which is based on the coding agent Codex.On August 20, OpenAI held a demonstration of ChatGPT Work in Gangnam, Seoul, sharing real-world use cases from local experts. ChatGPT Work is designed to perform various tasks such as data research, analysis, and document creation, leveraging the capabilities of OpenAI's Codex coding agent.Eum Eun-sook, head of communications at OpenAI Korea, highlighted the competitive edge
Jinju City Implements AI and Community Support to Address Welfare Needs
Jinju City in South Gyeongsang Province is operating a safety net that combines a big data-based identification system, community spaces, and food support programs to identify households in welfare crises.The initiative aims to proactively find citizens who may struggle to apply for welfare services and connect them with public and private services.The 'Welfare Blind Spot Discovery System,' which utilizes big data AI, identifies households at risk of welfare crises based on 47 types of crisis in
Mirae Asset Securities Launches Fourth IMA, Seeks 100 Billion Won in Subscriptions
Mirae Asset Securities has launched its fourth Comprehensive Investment Account (IMA) product and is seeking 100 billion won in subscriptions.The company announced on August 20 that it will accept subscriptions for the 'Mirae Asset IMA No. 4' from August 24 to 27, with the possibility of early closure if the subscription limit is reached.The minimum investment amount is 1 million won. The Mirae Asset IMA No. 4 is a performance-based product with a three-year maturity, reflecting the recent rise