Kakao Pay Reports Record Q2 Operating Profit of 58.6 Billion Won
Kakao Pay achieved record revenue and operating profit in the second quarter of this year, driven by balanced growth across its payment, financial, and platform businesses.The company reported consolidated revenue of 335.1 billion won and an operating profit of 58.6 billion won for the second quarter, marking a 40.6% increase in revenue and a staggering 528.2% rise in operating profit compared to the same period last year. Net profit for the quarter reached 49.6 billion won, up 251.3%.The record
Korean Government and KOSA Launch AX360° AI Resource Portal
The Korea Software Industry Association (KOSA) announced the launch of the 'AX360°' service on August 4, which integrates information on government AX (AI transition) projects, private sector AI resources, and domestic AI companies and solutions.As the government rapidly expands its AX initiatives and the private sector increases the supply of AI resources such as GPUs, AI models, and data, related information has been scattered across various departmental websites and individual companies. This
Jeonju Prepares for Implementation of Special Measures Law for Specific Buildings
Jeonju, North Jeolla Province, is taking steps to minimize citizen inconvenience and ensure the stable implementation of the 'Special Measures Law for Specific Buildings,' which will take effect on December 17. Preparations include amending ordinances and establishing an administrative support system.On August 4, officials announced that the Special Measures Law will be temporarily in effect from December 17, 2026, to June 16, 2028. The law aims to protect property rights by providing a limited
Tight Race for Leadership in Democratic Party as Candidates Focus on Honam Region
Democratic Party leadership candidates Jung Cheong-rae, Kim Min-seok, and Song Young-gil visited the Honam region on August 4, ramping up their final campaign efforts. With one-third of party members located in Honam, the candidates engaged in a fierce battle ahead of a televised debate scheduled for August 5.Jung focused on garnering support in Honam by visiting local markets in Gwangju and holding policy discussions with organizations such as the Association of the Disabled and firefighters. D
Gunpo City Corporation Enhances Data Protection Amid Rise of Generative AI
Gunpo City Corporation is enhancing its data protection capabilities through training for employees in response to the growing importance of personal data security amid the rise of generative AI.According to the corporation, on July 30, it conducted a "2026 Personal Data Protection and AI Security Training" for personal data managers and handlers.This training was organized as part of mandatory periodic education under the Personal Data Protection Act, focusing on key aspects of the law, protect
Oh Se-hoon Criticizes Lee Jae-myung's Real Estate Tax Policy as a 'Tax Hell'
Oh Se-hoon, the Mayor of Seoul, sharply criticized the real estate tax reform plan proposed by the Lee Jae-myung administration, calling it a "tax hell policy" where taxes increase whether one buys or sells a home. He argued that the government's reliance on tax increases instead of expanding supply distorts the market, ultimately harming low-income citizens and young people the most. On August 4, Oh stated on his social media, "The government talks about expanding supply, but there are no pract
Russia Open to Negotiations if West Shows Constructive Attitude; Ukraine Pushes for Peace Before Winter
Russia has stated it is prepared to engage in negotiations to end the war in Ukraine if the West adopts a constructive attitude. In response, Ukraine has outlined a strategy to pressure Moscow into choosing peace before winter through a combination of diplomacy, sanctions, and medium- to long-range attacks.On August 3, Mikhail Galuzin, Russia's Deputy Foreign Minister, said at the third Kazakhstan-Russia Media Forum in St. Petersburg, "We are always ready for negotiations and open to solutions t
Daewoo Engineering Surges Over 12% Following Strong Q2 Earnings Report
Daewoo Engineering is experiencing a surge of over 12% after reporting second-quarter results that exceeded market expectations.According to the Korea Exchange, as of 2:34 PM, Daewoo Engineering shares were trading at 14,960 won, up 1,660 won (12.48%) from the previous trading day.The company announced that its consolidated operating profit for the second quarter of this year reached 232.3 billion won, a 182.6% increase compared to the same period last year. This figure surpasses the market fore
Kakao Enhances AI Voice Generation Technology with Kanana-o
Kakao has advanced the voice generation technology of its proprietary omni artificial intelligence (AI) model, Kanana-o. The improvements allow the system to control not just natural reading but also tone, emotion, speed, and volume based on user natural language commands.On August 4, Kakao revealed the voice generation capabilities of Kanana-o through its tech blog. The new model generates speech that reflects the desired speaking style input by users in natural language.For instance, it can un
SK Itecnix Shares Surge Over 20% Amid Domestic Tax Credit Hopes and China Price Regulations
SK Itecnix shares have surged over 20% in response to the government's push for a domestic production tax credit, akin to the U.S. Inflation Reduction Act (IRA), and expectations of reduced price competition in China's solar industry.As of 2:19 PM on August 4, SK Itecnix was trading at 57,000 won, up 10,450 won (22.45%) from the previous trading day, according to the Korea Exchange.The government's announcement the day before regarding the introduction of a domestic production tax credit in its