President Lee Marks 60th Anniversary of Korean Nurses in Germany
President Lee Jae-myung met with the Korean community in Germany on August 2, promising, "I will ensure that your voices lead to real changes in policies and systems."During a luncheon held at a hotel in Frankfurt, he stated, "I will pay closer attention so that overseas Koreans, no matter where they are in the world, can believe that the government listens to their concerns and takes action."On his way back from a tour of San Francisco and three South American countries, President Lee, accompan
OPEC+ to Increase Oil Production by 188,000 Barrels Daily Starting Next Month
The Organization of the Petroleum Exporting Countries (OPEC) and seven major oil-producing nations within the OPEC+ alliance have agreed to increase oil production by 188,000 barrels per day starting next month.According to Yonhap News Agency, the OPEC Secretariat announced that a video conference was held with representatives from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, where the decision was finalized.Previously, these countries had announced voluntary production cut
Jung Cheong-rae Wins Narrowly Against Kim Min-seok in Democratic Party Primary
In the Democratic Party's primary held on August 2 in the Busan, Ulsan, and Gyeongnam (Bulgyeong) region, candidate Jung Cheong-rae secured 25,189 votes, narrowly defeating Kim Min-seok, who received 23,675 votes. Jung's victory comes after he lost to Kim by a slim margin in the previous day's primary in the Chungcheong region.On this day, Jung garnered 4,054 votes in Ulsan, falling short of Kim's 4,337 votes. However, he outperformed Kim in Busan and Gyeongnam, where he received 10,345 and 10,7
Market Turmoil Delays New Listings of Single-Stock Leveraged ETFs
The Korea Exchange has informed asset management firms that the review process for new listings of general ETFs may be delayed starting this month due to increased market turmoil surrounding single-stock leveraged ETFs.According to Yonhap News Agency, the Korea Exchange conducted a survey of major asset management firms at the end of last month regarding the demand for upcoming ETF listings. They advised that even if preliminary reviews are requested this month, the schedule may be delayed compa
Supreme Court: Prosecutorial Intent Must Be Considered in Dismissal of Charges
The Supreme Court has stated that "the prosecutor's intent must be comprehensively assessed" regarding the dismissal provisions in the revised Criminal Procedure Law.According to Yonhap News on August 3, the Supreme Court's Court Administration Office submitted materials on the review of prosecutorial abuse legislation to the office of Kim Tae-kyu, a member of the National Assembly from the People Power Party, on July 31.The revised Criminal Procedure Law has newly added grounds for dismissal of
Fire on Indonesian Passenger Ferry Claims 5 Lives, 41 Missing
A fire broke out on a passenger ferry operating in East Java, Indonesia, resulting in the deaths of five people and leaving over 40 missing.According to reports from Indonesian media outlet Kompas TV and China's state-run Xinhua News Agency, the fire occurred around 6 a.m. on August 1 near Madura Island. The ferry, named Mutiara Sentosa II, was carrying approximately 270 passengers and crew members at the time.The Indonesian National Search and Rescue Agency confirmed that five individuals have
Extreme Heat Hits Gwangju and Jeonnam, Gwangyang Records 41 Degrees Celsius
As extreme heat continues to grip the region, Gwangyang in Jeonnam has recorded a daytime high exceeding 40 degrees Celsius for the first time in eight years.According to Yonhap News, the Gwangju Regional Meteorological Administration reported that temperatures reached 41 degrees Celsius at around 3:21 PM on August 2 at a non-official observation site in Gwangyang-eup.While this site is not the official observation point for Gwangyang City, the last time temperatures surpassed 40 degrees was on
K-AI Project's Second Evaluation Approaches, SKT and Upstage Lead
The second phase evaluation of the 'Independent Artificial Intelligence (AI) Foundation Model (IndepAI)' project, promoted by the Ministry of Science and ICT, is approaching. While participating companies have demonstrated competitiveness in specialized fields such as Korean language, mathematics, and science, significant gaps remain in operating large-scale models and inference efficiency compared to global frontier models.According to industry sources on August 2, SK Telecom, Upstage, and LG A
Yoo Seung-min: Unity and Innovation Needed for Victory in Upcoming Elections
Yoo Seung-min, a member of the People Power Party, stated on August 2 that "the only way to stop the tyranny of the Lee Jae-myung administration is to secure a majority in the April 2028 general election." He emphasized that to win the election, the People Power Party must pursue a path of unity and innovation.In a post on his Facebook page, Yoo expressed his dismay at the Democratic Party members who cheered as a bill to abolish the prosecutor's supplementary investigation rights and include pr
U.S. AI and Critical Minerals Cooperation Achievements: Lee's Global Supply Chain Vision
President Lee Jae-myung has established a critical minerals supply chain cooperation framework during his tour of Brazil, Chile, and Argentina, while also securing significant investments for artificial intelligence (AI) technology and capital in San Francisco.The government aims to combine South America's mineral resources, U.S. big tech's technology and capital, and South Korea's semiconductor manufacturing capabilities to position Korea as a central hub in the global AI supply chain.According