KB Kookmin Bank Adds Time Deposits to KPI Amid Growing Deposit Competition
KB Kookmin Bank is expected to intensify competition for deposits as it has added time deposits to its key performance indicators (KPI) for the second half of the year. With the Bank of Korea raising its benchmark interest rate, market interest rates are increasing, leading banks to seek relatively stable deposit sources.According to the financial sector on August 12, KB Kookmin Bank has newly included personal and corporate time deposits in its KPI announced earlier this month. This temporary m
Small Business Leaders Meet with Prime Minister to Discuss KOSDAQ Delisting Criteria
The small business sector has requested a delay in the enforcement of stricter market capitalization criteria for KOSDAQ delisting and called for separate bidding for construction materials from the Korea Land and Housing Corporation (LH).The Korea Federation of Small and Medium Businesses announced that on August 12, over 130 participants, including Prime Minister Han Seung-soo, officials from relevant ministries, and representatives from the small business community, attended a regulatory inno
Local Supermarkets Demand Action Against Large Retailers' Early Delivery Services
Local supermarket owners are urging the government to halt discussions on allowing early morning deliveries by large retailers and to quickly implement support measures for local businesses. They express growing concern as the influence of online platforms and large retailers continues to rise, despite indicators of economic recovery.On August 12, the Korea Supermarket Cooperative Federation and the People's Solidarity for Participatory Democracy held a press conference in front of the Cheong Wa
Korean Air and Asiana Airlines Finalize Merger, Launching Mega Carrier
Korean Air and Asiana Airlines have finalized their merger.On August 12, Korean Air held a regular board meeting at its headquarters in the Seosomun Building in central Seoul, where it approved the merger agreement.Korean Air met the requirements for a small-scale merger under Article 527-3 of the Commercial Act, allowing the board's resolution to substitute for a shareholders' meeting.On the same day, Asiana Airlines convened an extraordinary shareholders' meeting at its headquarters in Oseo-do
Korea's Small Business Agency Launches AI Academy for Employees
The Small and Medium Business Administration announced on August 12 that it will pilot an 'AI Academy' aimed at employees of small businesses.The AI Academy is designed to enhance the AI capabilities of employees through hands-on training while also validating the educational model for industry-specific AI contract programs before their implementation.This year, the agency selected 10 new industry-specific AI contract programs that integrate AI with key sectors such as manufacturing, biotechnolo
Anyang Police to Inspect Vulnerable Areas in Pyeongchon Academy District
The Anyang Dong-an Police Station conducted focused inspections of rooftops and vulnerable areas in high-rise buildings in the Pyeongchon academy district on August 11, ahead of the start of the second semester, to prevent youth delinquency and crime. According to the police, the inspections involved school resource officers (SPOs), parent police, the Anyang Academy Association, the Anyang Youth Leaders Association, and the Youth Hazardous Environment Monitoring Group, who collaborated on safety
Ruling Party Launches Task Force to Support Housing Market Stabilization
The Democratic Party has launched a task force (TF) to support the real estate supply measures of the Lee Jae-myung administration, set to be announced on the 13th, reaffirming its commitment to mobilizing all resources for comprehensive support. The party also urged the People Power Party to recognize that housing policy should not be a subject of political conflict.On the afternoon of the 12th, the Democratic Party held the inaugural meeting of the 'Housing Market Stabilization TF' at the Nati
AWS Launches 'Amazon Quick' to Target AI Market in South Korea
AWS is entering the South Korean enterprise artificial intelligence (AI) agent market with its new product, 'Amazon Quick,' which connects corporate data and work applications. As generative AI evolves into 'agentic AI' capable of performing actual tasks, AWS has expanded its business intelligence (BI) and enterprise data utilization technologies into work-related AI over the past decade.On August 12, AWS Korea held a press conference in Gangnam, Seoul, to introduce the key features of the AI as
China Dominates Global Ship Orders in July, South Korea Holds 16% Share
Global ship orders in July saw a significant decline of over 50% compared to the previous month, with China capturing more than 80% of the total orders. South Korea, focusing on selective orders for high-value vessels, recorded a 16% market share.According to Clarkson Research, a UK-based maritime market analysis firm, the total global ship orders in July amounted to 3.57 million CGT (137 vessels), a 56% decrease from 8.03 million CGT in June and a 22% drop from 4.55 million CGT in the same mont
Han Dong-hoon Fails to Appear for Special Prosecutor's Inquiry
Independent lawmaker Han Dong-hoon did not attend a second inquiry by the special prosecutor's team regarding the ruling party-government meeting held immediately after the lifting of the state of emergency on August 12. The special prosecutor attempted to summon Han at 10 a.m. on the 12th as a witness to discuss the justification for the emergency declaration, but he did not respond. The special prosecutor stated, "He did not submit a reason for his absence," adding, "Considering the limited ti