Government's $1.6 Billion AI Data Project Faces Criticism for Waste and Errors
The South Korean government has invested 1.63 trillion won ($1.6 billion) in an artificial intelligence (AI) training data project, but numerous instances of duplicated and unusable data have been identified. Critics argue that inadequate pre-review, quality control, and post-management have led to inefficient spending of taxpayer money.According to an audit report released by the Board of Audit and Inspection on August 12, the Ministry of Science and ICT has been developing AI training data fro
Kim Min-seok and Jeong Cheong-rae Clash Over Leverage ETF Responsibility
As the Democratic Party's national convention approaches in five days, candidates for party leader expressed differing views on the responsibility for single-stock leverage ETFs, housing supply policies, and the process of abolishing supplementary investigative powers.During the TV debate on August 12, Kim Min-seok stated, "I was in charge on the day President Lee Jae-myung was on an overseas trip, and there was no face-to-face report due to the unique situation of the economic team." He added,
Ahn Cheol-soo Calls for Exclusion of 'Reunification Movement' from Upcoming Elections
Ahn Cheol-soo, a member of the People Power Party, stated on August 12 that the "reunification movement" serving specific individuals outside the party and causing division must be eliminated from the People Power Party. He argued that such individuals should be excluded from support in the upcoming general elections.Ahn made these remarks during a press conference at the National Assembly, emphasizing that now is the right time to establish clear goals and activate the Special Committee for Org
Yuhan Corporation Concludes 'Yoo Il-han Academy 2026' to Foster Future Healthcare Talent
Yuhan Corporation has completed its youth healthcare social innovation program, 'Yoo Il-han Academy 2026.'The company announced on August 12 that it held a performance sharing event and graduation ceremony for 'Yoo Il-han Academy 2026' at the Yuhan Corporation Willow House News Square, aimed at inheriting the entrepreneurial spirit of its founder, Dr. Yoo Il-han.This event was organized to share the results of a project-based learning (N-PBL) course that took place over five weeks, starting on J
Hanwha Leads Local Talent Development for AI and Aerospace Ecosystem
Hanwha is taking a significant step towards building an AI and aerospace industry ecosystem in the southeastern region by partnering with national universities to develop local talent.On August 12, Hanwha Aerospace, Hanwha Ocean, and Hanwha Engine announced the signing of a 'Southeastern Regional Talent Development Agreement' at the R&D center of Hanwha Aerospace in Changwon, Gyeongnam, in collaboration with Gyeongsang National University, Pusan National University, and National Changwon Univers
Korea Company Reports 35.6% Increase in Q2 Operating Profit
Korea Company announced on August 12 that its preliminary operating profit for the second quarter reached 100.2 billion won, marking a 35.6% increase compared to the same period last year.During the same period, sales totaled 339.6 billion won, a slight decrease of 1.2% year-on-year. However, the increase in equity method gains, driven by expanded sales and improved product mix at its core subsidiary, Hankook Tire & Technology, along with favorable exchange rates, contributed to the improved ope
Gwangju Mayor Park Kwan-yeol Calls for Government Support to Address Regulatory Burdens
Gwangju Mayor Park Kwan-yeol emphasized the need for government support corresponding to regulatory burdens during a meeting on August 12.After visiting the Han River Flood Control Center in Seoul, Mayor Park met with the Minister of Environment to discuss key issues facing Gwangju and to request government attention and practical support for various regulations hindering local development.Currently, Gwangju is actively communicating with the central government to address overlapping regulations
KAI Union Opposes Hanwha's Management Participation Amid Concerns
Hanwha Group has acquired over 15% of Korea Aerospace Industries (KAI), prompting the union to express opposition to the merger. The union argues that Hanwha, a supplier in the aviation sector and a competitor in the space sector, could create conflicts of interest in KAI's management.On August 12, the KAI union issued a statement urging the Fair Trade Commission to reject the merger review of KAI and Hanwha. This follows Hanwha Group's continued acquisition of KAI shares, which reached 15.89% a
Culley Reports Record Q2 Operating Profit of 27.4 Billion Won, Marking Six Consecutive Quarters of Profit
Culley reported record operating and net profits for the second quarter of this year. Growth in core businesses such as food and beauty, along with new ventures like seller delivery products (3P) and fulfillment services (FBK), contributed to both revenue growth and improved profitability.On August 12, Culley announced that its consolidated operating profit for the second quarter reached 27.4 billion won, a staggering 1,991% increase compared to the same period last year. This marks the largest
Korean Agency Discovers Illegal Sale of Glutathione Injections
The Ministry of Food and Drug Safety has referred an individual to prosecutors for illegally selling prescription drugs, including glutathione injections, commonly known as "white jade injections."On August 12, the agency announced that it had sent A, who is accused of violating the Pharmaceutical Affairs Act, to prosecutors for illegally selling approximately 160 million won worth of glutathione injections and other prescription drugs.The Central Investigation Team for Food and Drug Safety rece