Hong So-young, head of the Military Manpower Administration, stated in a recent media interview that the agency is reviewing plans to gradually reduce and abolish the supplementary service system in response to a sharp decline in military resources due to a demographic crisis. She noted, "The decrease in military resources was a predetermined future, yet there has been no comprehensive response until now," signaling a fundamental overhaul of the military service system.The official acknowledgmen

The profitability and financial health of external audit-targeted construction firms have deteriorated for five consecutive years, with marginal companies now exceeding 11% of the total, indicating a structural downturn in the construction industry.The Korea Construction Industry Institute reported on August 9 that an analysis of the management performance of 2,004 construction firms with available financial statements from 2021 to 2025 revealed this trend. External audit-targeted companies are

Seoul's prominent reconstruction areas, Yeouido and Mokdong, are facing a housing crisis as large-scale relocations approach. With multiple redevelopment projects accelerating, the demand for temporary housing is rising, while rental listings are dwindling. Concerns are growing that a tax reform aimed at enhancing benefits for primary residents could lead to more landlords reclaiming rental properties for personal use, further tightening the rental market.According to the construction industry o

The Small and Medium Enterprises Technology Innovation Association (InnoBiz Association) expressed its support on August 9 for the government's tax reform plan, stating, "We deeply resonate with the intention of revitalizing national growth engines and enhancing innovation vitality in small and medium enterprises."InnoBiz particularly highlighted that the newly established domestic production tax credit will serve as a crucial foundation for bold investments and technological innovations by Inno

The average interest rate for one-year time deposits at savings banks, which once approached 4%, has begun to decline again. This shift comes as funds that had flowed into the stock market are now returning to deposits, easing the pressure on securing deposits, while household loan regulations limit available investment options.According to the Korea Federation of Savings Banks on August 9, the average interest rate for one-year time deposits across 79 savings banks nationwide is now 3.78%. This

The KOSPI has dropped more than 40% from its peak, increasing the repayment burden for borrowers who invested in stocks using loans. The default rates among those under 20 and over 60 are significantly higher than the overall average, raising concerns about the aftermath of speculative investments.According to data submitted by Lee Jong-wook, a member of the National Assembly's Finance and Economy Committee, the default rate for personal credit lines (overdraft accounts) at the five major banks—

President Lee Jae-myung will review the progress of the Honam semiconductor cluster, part of a $800 billion initiative, during a public-private meeting on August 10. An announcement regarding additional housing supply and financial support for actual homebuyers is expected as early as August 13.According to the Blue House, President Lee will chair the second public-private meeting on mega projects on August 10, a month after the first meeting held on July 6.During the first meeting, President Le

극한 폭염이 지속되는 가운데 김회천 한국수력원자력 사장이 현장을 찾아 종사자 안전과 전력수급 상황을 점검했다.한수원은 김 사장이 지난 7일 고리원자력본부를 방문해 폭염 취약 현장을 살피고 현장 근무자의 온열질환 예방 등을 확인했다고 9일 밝혔다. 이번 점검은 정부의 폭염 중대경보 대응 기조에 맞춰 발전 설비의 안정적인 운영과 현장 근로자의 안전을 최우선으로 확보하기 위해 마련됐다.김 사장은 발전소 내 폭염 취약 작업 구역에서 작업자들의 건강 상태와 작업 환경을 점검하고 온열질환 예방을 위한 보호조치가 이행되

Han Jeong-ae, the policy chief of the Democratic Party, stated that the government's tax reform plan is likely to be finalized by the end of August after discussions between the party and the government. She also addressed the recent controversy surrounding lawmaker Hwang Hee's 'youth bus house' remarks, asking the public to view it as a 'happening' while sincerely apologizing to young people.During a press briefing held at the National Assembly on the morning of August 9, Han mentioned the tax