Venture Association Commemorates 7th Anniversary of Lee Min-hwa's Passing
The Venture Association is reflecting on entrepreneurship, a core value and starting point of the venture ecosystem, as it marks the 7th anniversary of the late Honorary Chairman Lee Min-hwa's passing. The association emphasized the need for the venture ecosystem to revisit the pioneering spirit of the first generation of venture entrepreneurs.According to the Venture Association, a week starting from August 3 has been designated as a memorial week for Lee Min-hwa, during which an online memoria
Government to Provide Up to 100% Funding for Semiconductor Cluster Infrastructure
The government will provide up to 100% funding for the costs associated with the establishment and operation of semiconductor cluster infrastructure. Details regarding the formation and operation of the Semiconductor Strengthening Special Committee, the designation process for clusters, and workforce training have also been finalized.The Ministry of Trade, Industry and Energy announced on August 4 that the enforcement decree of the Semiconductor Special Act, which includes these provisions, was
Filtration of Nakdong River Water Reduces Algal Toxins by Up to 86%
The initial results from the filtration experiment at the Munsan Water Treatment Plant in Daegu show significant improvements in key water quality indicators, including a reduction in algal toxins and turbidity. The government plans to assess whether this filtration method can effectively address the region's persistent water quality issues after expert verification.The Ministry of Climate, Energy and Environment announced on August 4 that it will hold the first verification committee meeting on
South Korea Develops Eco-Design Standards to Meet EU Environmental Regulations
The European Union (EU) will begin enforcing eco-design regulations starting in 2027, beginning with textiles and clothing. In response, the South Korean government is developing product evaluation standards to assist domestic companies. The aim is to establish a Korean standard that objectively measures product durability, ease of repair, and recyclability.The National Institute of Environmental Research, under the Ministry of Climate Energy and Environment, announced on August 4 that it will h
Over 545,000 Corporations to Make Interim Corporate Tax Payments by End of Month
More than 545,000 corporations with a December fiscal year-end must make their interim corporate tax payments by the end of this month. Approximately 40,000 small businesses affected by high exchange rates, rising oil prices, and the Homeplus incident will have their payment deadlines extended by two months.The National Tax Service announced on August 4 that corporations subject to interim corporate tax payments must file and pay their taxes by August 31. This year, the number of corporations re
Experts Provide On-Site Support to Address Small Business Challenges
The Ministry of SMEs and Startups and the Small Business Agency announced on August 4 that they are continuously recruiting companies to participate in the '2026 Business Support Team On-Site Clinic' aimed at helping small businesses and micro-enterprises overcome management and technical difficulties.The on-site clinic is designed to address complex challenges faced by small businesses that cannot be resolved through phone or in-person consultations. Experts visit companies directly to analyze
Disagreement Between Parties on Special Inspector Appointment Process
The ruling and opposition parties are discussing the appointment process for a special inspector to monitor misconduct involving President Lee Jae-myung and individuals with special ties to the presidency, but they are showing differences in their positions. The Democratic Party has pointed out that the People Power Party is delaying negotiations, while the People Power Party has countered that discussions will conclude early next week. Attention is focused on whether the matter can be resolved
Naver Shares Surge 8% Following AI Factory Investment Announcement
Naver's shares surged over 8% during trading after the company revealed specific investment and operational structures for its artificial intelligence (AI) factory project.As of 11:15 a.m. on August 4, Naver's stock was trading at 224,500 won, up 17,000 won (8.19%) from the previous trading day, according to the Korea Exchange.The increase in investor sentiment is attributed to Naver's disclosure of the contract structure for its AI factory initiative, which is backed by a $1 billion equity inve
Iksan City Advances Solar Income Village Initiative
Iksan City in North Jeolla Province has reaffirmed its status as a leading city in resident-participatory renewable energy income projects.On August 4, the city announced that four locations in Yeosan-myeon were selected in the first round of the government's solar income village project, paving the way for national funding and rural income expansion.The solar income village initiative allows residents to form cooperatives and directly participate in solar power generation projects. The profits
Jang Dong-hyuk Urges President Yoon to Reject Criminal Procedure Law Amendment
The People Power Party held an urgent discussion on August 4, urging President Yoon Suk Yeol to exercise his veto power against the proposed amendment to the Criminal Procedure Law.Jang Dong-hyuk, the party leader, warned during the discussion titled 'Urgent Forum on the Unconstitutionality of Abolishing Supplementary Investigation Rights and Dismissal of Charges' that "if the grounds for dismissal of charges are added to cover President Yoon's offenses, the public will begin to erase the Yoon a