Korea Daily News (September 26, 2024)

Full cut in high school free education budget: The government’s budget for high school free education is set to be completely cut next year. Concerns over worsening educational finances have led education superintendents nationwide to discuss countermeasures.
OTT copyright issues discussion: A roundtable discussion was held at the National Assembly Library, where industry representatives debated the issue of overdue copyright fees by OTT service providers. There’s growing pressure for stronger copyright protections.

57% cut in regional SME R&D budget: The research and development budget for regional small and medium enterprises (SMEs) has been reduced from 118.9 billion KRW last year to 51.7 billion KRW this year, leading to concerns about the worsening research environment for SMEs.
Weakening confidence in the U.S. economy: Despite strong employment and inflation data, U.S. voters’ confidence in the economy is weakening. Economic concerns are playing a central role in the presidential election, with Kamala Harris seen as more likely to win than Trump based on the “misery index.”
Mirae Asset Japan Yen RP sales surge: Mirae Asset Securities’ yen repurchase agreement (RP) product has seen strong demand, with sales exceeding 30 billion yen. Investors are particularly drawn to its stable returns.

Hyundai Mobis earns European cybersecurity certification: Hyundai Mobis became the first Asian parts supplier to earn a European cybersecurity certification, highlighting the growing importance of software security in the global automotive industry.
Expanding AI technology collaboration: AI semiconductor company Rebellion and Kolon Benit have expanded their collaboration to enhance AI acceleration technology, focusing on reducing dependence on GPUs by improving NPU technology.

Russia’s stricter pro-natal policies: Russia is pushing through a new law that would fine individuals without children as part of an effort to raise the country’s birth rate. The law is led by the Speaker of the House and Senate and has stirred controversy.
Israel-Hezbollah conflict intensifies: Israel has been conducting airstrikes on Hezbollah in Lebanon for three days, escalating tensions. As ground conflict looms, the U.S. has stepped in to mediate.
Pennsylvania economic pledge: Pennsylvania has emerged as a key battleground in the U.S. presidential race, with candidates vowing aggressive investments in manufacturing, biotech, and aerospace to rebuild the middle class.

Sangju World Hat Festival: Sangju City in Gyeongsangbuk-do is hosting the country’s only hat-themed festival, featuring a range of exhibitions and hands-on experiences related to hats. The festival runs from October 4-6 and promises to offer visitors a unique cultural experience.
Gwangju disabled baseball game invitation: Kia invited disabled residents of Gwangju to attend a baseball game at Gwangju-Kia Champions Field, supporting their healthy leisure and cultural activities.
Elmgreen & Dragset Seoul exhibition: The largest exhibition in Asia by Elmgreen & Dragset is being held at the Amorepacific Museum of Art in Seoul, featuring installation works that allow visitors to explore modern urban life through interactive artworks.

Faker’s custom Mercedes-AMG SL: A one-of-a-kind Mercedes-AMG SL car was created for legendary League of Legends player Faker, marking a unique collaboration between the gaming and automotive industries.
Lord Nine server transfer registration: Smilegate’s MMORPG Lord Nine has opened pre-registration for its first server transfer event, allowing players to move their characters to different servers. The server transfers will take place from October 2 to 4.

Nexon Icon Match pre-sale: Tickets for the Nexon Icon Match, featuring legendary soccer players from around the world, went on pre-sale on September 26. The event will be held on October 19 and 20 at Seoul World Cup Stadium, with an event match on the 19th and a main match on the 20th.
Fencing champion Oh Sang-wook named Grand Koleos ambassador: Renault Korea delivered a Grand Koleos Special Edition vehicle to Oh Sang-wook, a fencing national team player, as part of his role as the official brand ambassador.

Hyundai and Fire Agency team up for EV fire safety: Hyundai Motor Group and the Fire Agency have formed a partnership to address electric vehicle fire safety issues, working together to develop unmanned firefighting robots. Technological advancements in fire response for EVs are drawing attention.
Hanwha Construction strengthens environmental cooperation: Hanwha Construction has partnered with Korea University’s Sejong Campus to enhance environmental R&D and expert exchanges, signing an MOU at the “Eco-Up Fair” to promote eco-friendly technology development.

Netflix’s ‘Culinary Class Wars’ popularity surges: The Netflix original show ‘Culinary Class Wars’ is gaining traction, and related content on Naver is also enjoying strong popularity. The restaurants where the program’s participants work have seen a surge in reservations.
Hwang Jung-eum selected as MC for ‘Solo is Better’: Actress Hwang Jung-eum and comedian Shin Dong-yup have been selected as MCs for SBS Plus’ new dating reality show ‘Solo is Better,’ which humorously follows the love lives of divorced individuals.

1,200-unit apartment complex in Sadang-dong: A 1,200-unit apartment complex is set to be built in the Namseong Station area of Sadang-dong, Seoul, including long-term rental apartments to provide housing stability for low-income residents.
View premium impacts apartment prices: In apartment complexes, the price gap between units with good views and those without can be significant. The “view premium” has become a crucial factor in determining apartment prices in the real estate market.

Sharp drop in tax revenue: The Ministry of Finance announced that national tax revenue this year is expected to fall nearly 30 trillion KRW short of projections. Despite the shortfall, the government has stated that there will be no supplementary budget and plans to maintain fiscal discipline, although debates about funding continue.
Increase in in-house mortgage loans: The scale of in-house loans, bypassing banks, has surged. These “shadow household loans” have raised concerns about the real estate lending market. In-house corporate housing loans grew by 33% compared to the previous year.

STEM field revitalization discussions: The government and the ruling party held a policy consultation meeting to discuss ways to expand job opportunities and improve compensation for science and technology professionals. They promised an increase in the STEM field budget and support for scientific research next year.

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