IP agency seeks to drive Sejong's future industries through intellectual property

Forum at Sejong Technopark to discuss IP support tailored to city's industrial profile; more than 50 small businesses to take part A forum is set to open to explore ways to advance regional future industries through intellectual property. The Korea Intellectual Property Office will hold a roundtable Friday at Sejong Technopark in Jochiwon-eup, Sejong, to discuss IP support tailored to the city's industrial profile and public-private cooperation strategies with local small and medium-sized enterprises and small business owners. The event will bring together about 60 participants, including Korea Intellectual Property Office Commissioner Kim Yong-seon, National Assembly lawmaker Kim Jong-min (Sejong Gap), Sejong Chamber of Commerce and Industry Chairman Kim Jin-dong, Sejong Special Autonomous City officials, and representatives from the Korea Invention Promotion Association and local small and medium-sized enterprises. Sejong is expanding beyond its role as an administrative hub, nurturing future industries including semiconductors, materials and components, biotech, AI and robotics, digital content, and knowledge services, while building an advanced industrial base through the development of a smart national industrial complex. As the city's designation as a smart city national pilot zone draws a growing influx of startups, the need for IP support suited to Sejong's industrial profile is becoming more pressing. At the roundtable, the IP office, Sejong city government, Sejong Technopark, the Sejong Chamber of Commerce and Industry, and the regional IP center will discuss how to coordinate their roles to build a public-private cooperation framework — spanning the identification of promising companies, IP support, and follow-on growth assistance. They will also discuss ways to protect Sejong's distinctive local assets, such as hangul, regional culture and traditional markets, through IP mechanisms and connect them to brand development, commercialization and entrepreneurship. Participating companies are also expected to raise a range of proposals, including expansion of IP support in the Sejong region, easing the burden of corporate co-payment requirements for support programs, IP support that reflects Sejong's industrial characteristics, activation of inter-company IP management networks, development of shared brands for traditional markets and neighborhood commercial districts, and expanded IP support for early-stage startups. As part of its proactive administration initiative, the IP office plans to incorporate the feedback gathered Friday into future regional IP support policies and program operations, and to strengthen cooperation with Sejong city and related local institutions. "Sejong is home to companies growing toward global markets on the strength of core technologies, as well as a diverse range of tech firms taking on new frontiers," Commissioner Kim said. "We will use intellectual property to reinforce the strengths of Sejong's industries and companies, and work together with the region to build an IP growth model suited to Sejong."

Sept. 18, 2026

New Busan employment chief vows 'field-centered' labor administration

Incoming director emphasizes on-the-ground approach to labor disputes, industrial accidents and job creation Lee Chang-gil, former chairman of the North Chungcheong Provincial Labor Relations Commission, took office Friday as director of the Busan Regional Office of Employment and Labor. Lee graduated from Seoul National University with a degree in political science and entered public service through the 40th administrative officer examination. He has since held key posts at the Ministry of Employment and Labor headquarters, the Labor Relations Commission and regional employment and labor offices. "The Busan, Ulsan and South Gyeongsang Province region has built its industrial ecosystem around large-scale complexes in shipbuilding, automobiles and petrochemicals," Lee said. "I will pursue field-centered employment and labor administration so we can respond effectively to regional challenges, including labor-management disputes, industrial accident prevention and job creation."

Sept. 18, 2026

Korea Minting Corp, Toss complete blockchain-based public payment proof of concept

Full cycle of local gift voucher top-up, payment and merchant settlement demonstrated Optimism-based infrastructure confirms transaction data protection feasibility The Korea Minting and Security Printing Corp. has completed a proof-of-concept test with Toss operator Viva Republica to link blockchain-based CBDC with public payment infrastructure, including local gift vouchers. The two companies announced Friday they had finished a proof-of-concept for "blockchain-based public payment infrastructure." The verification follows a strategic MOU the two signed April 22. The companies focused on whether blockchain-based CBDC could be connected to existing public payment systems, in preparation for the potential future use of digital currencies in the payments sector. They built a test environment for local gift vouchers separate from any live commercial service, then ran through the entire process — using blockchain-based CBDC to top up local gift voucher tokens, process payments and settle transactions with merchants. The blockchain infrastructure used Optimism, a layer-2 ecosystem designed to address Ethereum's transaction speed and cost limitations. The two companies tested a structure linking on-chain CBDC transfer records with transaction processing in existing payment systems. Given that transaction data on a public blockchain can be exposed externally, the test also verified a structure that prevents sensitive payment information from being broadcast openly across the network. The Korea Minting Corp. said the verification confirmed the technical feasibility of applying blockchain-based CBDC to existing public payment infrastructure such as local gift vouchers. However, the project was a technology verification conducted in a test environment, not the introduction of a commercial service. "Our focus was less on the issuance of CBDC itself and more on verifying whether the top-up, payment and settlement processes work properly when connected to actual public payment infrastructure, and whether transaction data can be protected," Korea Minting Corp. President Seong Chang-hun said. He added that the company would "continue to review the relevant technologies and service models to ensure that new digital payment instruments can be safely integrated with existing infrastructure, drawing on our experience operating public digital services such as local gift vouchers, digital Onuri gift vouchers and mobile identification."

Sept. 18, 2026

Six months in, Korea Hydro CEO logs twice Earth's circumference in field visits

Kim Hoe-cheon prioritizes open communication and on-site management; junior board established to channel employee voices Kim Hoe-cheon, president of Korea Hydro & Nuclear Power, the country's largest power generation company, marked six months in office Friday. In that time, Kim has traveled roughly 82,000 kilometers — more than twice Earth's circumference — visiting domestic facilities and overseas markets as he pushes nuclear power exports under the Team Korea initiative, including a new plant project in the Czech Republic. Korea Hydro & Nuclear Power said Kim has conducted 14 on-site safety inspections since taking office on March 18, visiting company facilities more than twice a month on average to personally assess safety management conditions. He also made five overseas trips totaling 81,736 kilometers, including two visits to the Czech Republic nuclear plant site and trips to export markets in the United States and Canada. When he took office, Kim set out a management philosophy centered on bottom-up innovation and hands-on leadership, adopting the slogan "Connect 365, With CEO." The approach aims to harness flexible communication and field-driven innovation as core management principles, rallying organizational capabilities through direct engagement with employees. In line with that philosophy, the company recently established an employee-led innovation group called the Junior Board for Organizational Culture Innovation, designed to bring the fresh perspectives of younger staff and frontline voices directly into company-wide management decisions. On the day of his inauguration ceremony in March, Kim visited the Gori Nuclear Power Plant headquarters to inspect Unit 1, which is undergoing decommissioning following its permanent shutdown, and Unit 2, then under maintenance for continued operation, encouraging staff on site. He has since made regular visits to facilities across the country to personally check safety management conditions and take proactive steps to eliminate accident risks. To foster a culture of open communication within the organization, Kim has held meals and informal gatherings with employees across different ranks and departments, sharing messages about professional growth. He regularly meets staff in the company cafeteria in a relaxed, informal setting. In July, he met with new recruits to share the company's long-term vision. Kim is also using this strengthened internal communication to address broader industry challenges. As the company works in line with government energy policy to select sites for new large-scale nuclear plants and small modular reactors in Yeongdeok-gun and Gyeongju in North Gyeongsang Province and Gijang-gun in Busan, engagement with local communities has become more critical than ever. "Going directly to the field, making eye contact with employees and communicating with them is the starting point for organizational change and growth," Kim said. "I will continue to actively pursue two-way communication that listens to the voices of our people."

Sept. 18, 2026

Daejeon expands night bus, special train services for fall festivals

Double-decker 'D-Universe' bus, special tourist trains to draw Greater Seoul visitors to Daejeon Bread Festival, Daejeon International Wine Expo Daejeon is expanding its nighttime tourist transportation network, linking major night-tourism districts and key festival venues to make it easier for visitors to get around after dark. The city announced Friday that it is operating the "D-Universe" double-decker loop bus and special tourist trains through November in partnership with the Daejeon Tourism Organization, aiming to improve nighttime mobility for visitors on weekends and during major festival periods. The D-Universe bus runs a loop connecting Daejeon Station's east plaza, Hanbat Arboretum and the Expo Water Plaza. It will operate on Fridays, Saturdays and Sundays — excluding the chuseok holiday — for a total of 24 days from Friday through Nov. 15. Regular service hours run from 5:30 p.m. to 10:30 p.m., with five departures a day at one-hour intervals. During the Daejeon Bread Festival and Daejeon International Wine Expo, running Oct. 16 through Nov. 8, daytime service will be added, extending hours to 11 a.m. to 9:30 p.m. with eight runs per day. The expanded schedule is designed to help festival-goers visit major tourist attractions and enjoy nighttime activities. The city is also running special tourist trains for visitors from the Greater Seoul area to coincide with the two festivals. The trains will operate on Oct. 17 and Nov. 6, offering a tourism product that combines the Paldo Jangter tourist train and connecting buses to take passengers to Daejeon's signature festivals and major nighttime attractions. "We are putting in place transportation that connects Daejeon's major festivals and nighttime attractions so visitors can enjoy the city's nights more conveniently," said Kwon Gyeong-min, director of the city's culture, sports and tourism bureau. The D-Universe bus accepts walk-up passengers on-site for 1,000 won in cash, while the special tourist trains can be booked through the Korail Tourism Development website.

Sept. 18, 2026

LF's Raum hunts for Japanese designer brands with distinctive vision and craftsmanship

High-potential brands placed in prime zoning each season Mame Kurogouchi spotlighted for 26FW after Akiranaka High-touch strategy weighs materials, finish and design philosophy LF's concept select shop Raum announced Friday that it is strengthening its portfolio by scouting global designer brands with a clear design philosophy and commitment to craftsmanship. Each season, Raum selects high-potential designer brands and places them in its main zone. The strategy links initial buying to sales and repurchase data, feeding results into the following season's lineup. Earlier, Raum introduced Japanese women's designer brand Akiranaka. For the 2026 fall/winter season, it is spotlighting Mame Kurogouchi in the Raum West main zone, where the brand's 2026 FW collection will be on display through Sept. 30. Mame Kurogouchi is a Tokyo-based women's wear brand developed by designer Maiko Kurogouchi, known for textiles, jacquard and embroidery that blend craftsmanship with modern technology. Raum introduced the brand in South Korea during the 2025 FW season. Sales for the 2026 spring/summer season grew 30 percent over the previous season, and more than 80 percent of buyers made repeat purchases. In response, Raum expanded its 2026 FW buying volume by more than 40 percent. The 2026 FW collection, titled "Transparent Landscapes," draws inspiration from mountain scenery and traditional Japanese "wa glass." The season also includes a leather accessories collection developed in collaboration with Japanese leather brand Tsuchiya Kaban. Akiranaka is also building a loyal customer base quickly. Since its debut in the 2024 spring/summer season, more than 70 percent of buyers each season have been repeat customers. The average spend per customer for the 2026 SS season was about 30 percent higher than in 2024 SS. In July, Raum held a 2026 AW collection preview and a VIP styling class to expand the brand's presence. Raum has posted growth for three consecutive years. Sales in the first half of 2026 rose about 53 percent compared with the same period in 2024. Spending by new customers increased 50 percent year on year, while the number of new customers aged 29 and under jumped 120 percent. The shop has also maintained a repurchase rate of 60 to 70 percent over the past three years. "We will continue to discover and nurture global designer brands with the potential to grow into next-generation luxury," an LF official said.

Sept. 18, 2026

Daiso partners with Seoul National Cemetery to maintain graves of fallen soldiers

Daiso announced Friday that it has signed a sisterhood agreement with Seoul National Cemetery. Under the agreement, Daiso has been assigned Plot No. 37 at the cemetery, where 843 soldiers killed or who died in the line of duty during the Korean War are interred. The company plans to conduct regular volunteer activities at the site, maintaining and tidying the surrounding grounds. Daiso has volunteered at Seoul National Cemetery every year since 2022 during the month of national patriots and veterans in June. Most recently in June, employees paid their respects at the memorial tower before replacing fresh flowers and cleaning the designated plot. The sisterhood agreement expands those efforts into a regular maintenance commitment. "We will continue to carry out volunteer activities with our employees to honor those who gave their lives for the country and reflect on the meaning of loving our nation," a Daiso official said.

Sept. 18, 2026

New Balance taps Kim Yuna for fall-winter lightweight down campaign

Eland New Balance launches 26FW photo campaign New Balance, operated in South Korea by Eland World, unveiled its 26FW photo campaign featuring brand ambassador Kim Yuna on Friday. The campaign highlights styles suited for wear from the transitional season through winter. The Women's Flying 204 Airy hooded lightweight down jacket combines premium goose down with an ultra-lightweight, high-density 10-denier fabric. The ripstop material features a water-repellent surface treatment and windproof construction. In the campaign shoot, Kim pairs the Women's Flying lightweight down jacket — available in lemon butter and light blue — with the 1880V2 walking shoe. The 1880V2 is built with New Balance's proprietary Fresh Foam X midsole and comes in suede in two colorways: taupe and gray. "Pairing the Women's Flying lightweight down, crafted from an ultra-lightweight high-density fabric, with the stable and comfortable 1880V2 will let you move with ease," an Eland New Balance official said.

Sept. 18, 2026

Ottogi teams up with Daegu bakery Samsong on 5 collaborative menu items

Ottogi announced Friday it is teaming up with Samsong Ppangjip to release a lineup of collaborative menu items. Samsong Ppangjip is a leading local bakery brand from Daegu. The collaboration features five items: an aged cream curry croquette made with a curry sauce developed exclusively for Samsong Ppangjip, along with a salad sandwich, a hamburger sandwich, a potato egg sandwich and an onion bread — all made using Ottogi ketchup and mayonnaise. The collaborative menu items will be available at all 16 Samsong Ppangjip directly operated stores from Oct. 1 through Dec. 31. "Customers will be able to enjoy the signature products of Samsong Ppangjip and Ottogi in a fresh new way," an Ottogi official said.

Sept. 18, 2026

Musinsa to hold Chuseok Big Sale starting Monday

Musinsa announced it will launch its 2026 Chuseok Big Sale starting Monday. The event will open with a Chuseok Brand Week, offering coupons of up to 30 percent off on popular brands. Shoppers who spend 120,000 won ($88) or more will receive an instant 12,000 won discount. The sale will also include a holiday flash sale and a daily used-goods special — items priced at 9,900 won — updated at 11 a.m. and 3 p.m. Starting at midnight each day, the first 1,000 customers will be eligible for a Musinsa Money giveaway. An open-run lottery at 11 a.m. and 8 p.m. daily will randomly award store credit or coupons, while a Chuseok Special Raffle lets participants enter for 1,000 won for a chance to win prizes including a gold bar and an iPad mini. After the holiday, shoppers can continue to find signature deals and Brand Week products at competitive prices through Oct. 5. A Members Day will run from Oct. 1 to Oct. 5, offering additional perks such as store credit, Musinsa Card rewards and instant discounts.

Sept. 18, 2026

CJ CheilJedang donates food to vulnerable households for chuseok

CJ CheilJedang announced Friday it will donate food to vulnerable residents in North Jeolla Province ahead of chuseok, in partnership with the nonprofit Huimang-eul Nanunun Saramdeul (People Who Share Hope). The drive marks the company's first joint donation effort with the organization. Items to be distributed include soups, porridges, fermented pastes, Spam and olive oil. The goods will reach vulnerable households across North Jeolla Province through Huimang-eul Nanunun Saramdeul and the Jeonbuk Chamjoeun Sarang Nanum Community Service Corps. CJ CheilJedang plans to follow up the North Jeolla drive with a similar effort in South Gyeongsang Province, with a broader goal of expanding food support through the organization's 30 regional hubs nationwide. "We will continue to engage with local communities and extend our care and support to underserved neighbors," a company official said.

Sept. 18, 2026

Shinsegae Food partners with TMG Holdings to boost bakery lineup with French butter

Shinsegae Food said Friday it will strengthen its bakery competitiveness using La Conviette, a premium French butter. La Conviette is made by aging fresh cream from the west-central region of France for 18 hours using traditional methods. On Tuesday, Shinsegae Food signed an MOU with TMG Holdings, the domestic importer and distributor of La Conviette, at its headquarters in Seongdong-gu, Seoul. The agreement covers premium ingredient sourcing, joint product development and distribution expansion. Shinsegae Food has been developing products using premium ingredients in line with growing consumer demand for quality, flavor and differentiated experiences. Under the partnership, the company will supply bakery items and other proprietary products through TMG Holdings' online and offline retail channels. The two companies will also work together to identify new sales channels by combining Shinsegae Food's business-to-business sales network with TMG Holdings' product sourcing and distribution capabilities. "We will continue to discover premium ingredients and combine our product development and manufacturing capabilities to deliver differentiated bakery products," a Shinsegae Food official said.

Sept. 18, 2026

E-mart offers up to 40% off seafood and produce ahead of Chuseok

Discounts on farm and fishery products in partnership with agriculture, oceans ministries E-mart said it will run a holiday discount campaign through Wednesday in partnership with the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries to ease the burden on shoppers ahead of Chuseok. Seafood used in ancestral rites will be discounted by up to 40 percent. Domestic blanched octopus, Yeonggwang dried yellow croaker and cleaned freshwater eel will all be offered at 40 percent off, while frozen cod fillet and frozen pollock fillet will be 20 percent cheaper. The government has also released stockpiled supplies of key seafood items. Jeju hairtail and squid will be sold under a price-stabilization label at 3,880 won and 3,380 won per piece, respectively. More than 30 categories of fruit, vegetables and Korean beef linked to the government's agricultural product discount support program will also be marked down by up to 40 percent. E-mart's in-house brands Peacock and Jayeonjooeui are also taking part. Customers who spend 25,000 won ($18) or more on Peacock holiday items — including Sunhee's bindaetteok pancakes, assorted jeon and songpyeon rice cakes — will receive a 5,000-won Shinsegae gift voucher. Some items will be 20 percent off when paid with a participating card, and Peacock is also running a buy-two-get-one-free promotion on select product categories. Jayeonjooeui is offering a 2,000-won discount on its Jinsim dongeurangddaeng meatballs and neobiani beef slices when customers accumulate Shinsegae points, and domestic pesticide-free bean sprouts and mung bean sprouts will also be available at special prices. "We have prepared a wide range of discounts — from holiday food items to home appliances — to help ease the burden on shoppers this holiday season," said Jung Woo-jin, E-mart's head of marketing.

Sept. 18, 2026

Shinsegae opens Hyperground store with new brand identity

Pottery, Musinsa Standard among brands targeting shoppers in their 20s and 30s New BI to be unified across domestic and overseas locations, including future pop-ups Shinsegae Department Store opened a Shinsegae Hyperground store at its Cheonan Asan branch on Friday. The store is the first to carry the new brand identity and introduces 20 new brands spanning street fashion and accessories. The lineup includes Pottery, Musinsa Standard, Setter, No Manual, Mark Gonzales and MMLG. Shinsegae selected the brands based on customer data, targeting shoppers in their 20s and 30s. That age group accounted for 42 percent of customers at the Cheonan Asan branch in the first half of this year — about 1.5 times the 28 percent average across all Shinsegae branches. The new brand identity will be rolled out to existing Hyperground stores, including those at Centum City and Daejeon Shinsegae Art&Science, and will also be used at overseas pop-up events. Through Sept. 27, customers who spend 200,000 won or more using a Shinsegae affiliated card will receive 10 percent of their purchase amount back in Shinsegae gift certificates, with the same rate applying to purchases of 400,000 won ($292) or more. "We will continue to discover new brands and deliver differentiated content, drawing on Shinsegae's product planning capabilities and retail expertise," said Jang Su-jin, head of the merchandise division at Shinsegae Department Store.

Sept. 18, 2026

CJ Olive Young launches largest-ever recruitment drive, eyes global talent

31 job categories open; recruitment briefing set for Monday CJ Olive Young announced Friday it is launching its second-half new graduate recruitment drive, the largest in the company's history. The hiring drive covers 31 job categories across general and global tracks. The global track has been expanded and rebranded as the "Global Insight" track, reflecting the growth of the company's overseas K-beauty business. The company has added more global roles and introduced a new design position. Candidates will complete a presentation assignment to be assessed on language proficiency, international experience and problem-solving ability. The general track will recruit for 17 positions, including product planning (MD) and marketing roles. Seven IT positions are also open, covering back-end and front-end development and data architecture. CJ Olive Young's hiring volume last year was more than three times the level recorded in 2021. Over the past five years, people under 30 have accounted for more than 70 percent of all new hires. As of the end of last year, employees under 30 made up 79 percent of the total workforce. A recruitment briefing will be held Monday afternoon at CJ Human Resources Development Center in Jung-gu, Seoul. "We will continue making every effort to help young talent grow into leaders with genuine expertise," a company official said.

Sept. 18, 2026

Chuseok table costs rise 5.1% as summer weather drives up vegetable prices

Vegetables up 14.7% from last year; apple prices hold steady The cost of preparing a Chuseok ritual table this year rose about 5 percent from last year, driven by surging vegetable prices after a summer of heat waves and frequent rain. The Seoul Agricultural and Marine Products Corporation surveyed the cost of 34 key Chuseok items for a family of six at 25 outlets — including 16 traditional markets, eight hypermarkets and Garakmal — on Sept. 9, and found that the average cost across the three retail channels rose 5.1 percent from a year earlier. Among the retail channels, Garakmal was the cheapest at 228,000 won ($167), followed by traditional markets at 245,051 won and hypermarkets at 290,711 won. Compared with last year, prices at traditional markets rose 3.5 percent and at Garakmal 5.6 percent, while hypermarkets posted the steepest increase at 6.0 percent. Vegetables led the price surge, rising an average of 14.7 percent from a year earlier. Zucchini jumped 43.8 percent, radish 24.9 percent and bellflower root 23.0 percent. Baby napa cabbage, where supply increased, fell 9.6 percent, and green onions dropped 2.0 percent. Meat and seafood also climbed. Meat prices rose an average of 7.4 percent, with pork up 18.5 percent and beef for soup up 10.5 percent. Seafood gained 6.2 percent, with frozen pollock fillet jumping 20.1 percent and dried pollock 10.8 percent. Croaker, for which the government released stockpiled supplies, fell 6.4 percent. Fruit prices were stable. Apple prices were little changed from last year, while dried persimmons fell 12.0 percent and jujubes 14.5 percent. Prices varied by outlet. Traditional markets were relatively cheaper for wild greens, seafood, beef and chicken than hypermarkets. Hypermarkets offered lower prices on some processed and packaged goods such as songpyeon rice cakes, dasik confections, imitation crab and eggs. Garakmal was comparatively affordable for vegetables, pork and chicken.

Sept. 18, 2026

Musinsa to open two stores simultaneously in Shenzhen, targeting southern China

Musinsa Store and Musinsa Standard set to open Oct. 31 Musinsa announced it will open a Musinsa Store and a Musinsa Standard location simultaneously in Shenzhen on Oct. 31, targeting the southern China market. The Korean fashion platform has previously focused its China expansion on eastern cities such as Shanghai and Hangzhou. Shenzhen, the economic and industrial hub of southern China, has a large base of young, high-spending consumers drawn by its advanced technology sector. Musinsa plans to use Shenzhen as a new foothold from which to expand its store network to other major Chinese cities. Both stores will be located at One Avenue, a large mixed-use commercial complex in the Futian central business district — the heart of Shenzhen's prime retail zone. The Musinsa Store will carry around 30 Korean fashion brands, while the Musinsa Standard location will be the brand's fifth outlet in China. Product lineups will be tailored using sales data from existing Chinese stores alongside Shenzhen's local climate and consumer preferences. "We will continue to expand our offline presence in key consumer markets and strengthen our growth foundation in China," a Musinsa official said.

Sept. 18, 2026

Gangwon Province says liquid hydrogen reliability center in Samcheok to be completed by year-end

Three evaluation buildings, 21 types of testing equipment to be installed Reliability seen as key to industry success, secured through advanced technology Gangwon Province's liquid hydrogen reliability evaluation center in Samcheok is set to be completed by year-end. The project was launched to strengthen the technological competitiveness of South Korea's liquid hydrogen industry and to support companies in developing products and entering the market. The center is expected to help liquid hydrogen companies cut the time and cost of product development while improving product quality and reliability, contributing to their entry into both domestic and international markets. It will also serve as a foundation for developing Gangwon Province into a hub for liquid hydrogen research, testing and evaluation through joint research and technology support with companies and research institutions. Liquid hydrogen has drawn attention as a key technology for large-scale hydrogen supply and the expansion of hydrogen mobility, given its higher storage and transport efficiency compared with gaseous hydrogen — and reliability is critical to the industry's success. Products such as storage containers, valves, pipes and pumps are used in cryogenic environments, making high levels of technical capability and reliability essential. The need for a dedicated testing and evaluation system has long been recognized, and Samcheok is now on the verge of completing one equipped with cutting-edge technology. Gangwon Province has invested 28.7 billion won ($21 million) to build specialized infrastructure in Samcheok for testing and evaluating the performance and reliability of liquid hydrogen-related materials, components and equipment. Construction work and the installation of 21 types of testing and evaluation equipment are currently under way. With key facilities and equipment now largely secured, the center is on track for completion by year-end. The province plans to use the center to test and evaluate the performance, durability and environmental characteristics of products and components developed by companies, and to build a system for accumulating related data. It also plans to support prototype production and the development of evaluation standards, helping companies advance their products and technologies. Park Yu-sik, director of Gangwon Province's Future Industry Bureau, said the center "will become a core infrastructure facility that strengthens the technological competitiveness of South Korea's liquid hydrogen industry and supports companies in commercializing their products." He added that the province would "manage the project meticulously to ensure the center is completed without a hitch, and continue to expand practical support systems that companies can truly feel."

Sept. 18, 2026

KOTRA backs Korean firms' push into India's booming semiconductor supply chain

'Korea-India Semiconductor Partnership Week' tied to Semicon India 2026 15 Korean firms, 40 Indian buyers hold 80 one-on-one consultations India commits $8.4 billion to build domestic semiconductor ecosystem Korea's exports to India up 30.8% in January–August Korean materials, components and equipment companies are moving to secure a foothold in India's semiconductor supply chain, targeting a market projected to reach $110 billion by 2030. As India rapidly expands its semiconductor production facilities backed by large-scale government subsidies, the push is to help Korean firms lock in local business relationships from the earliest stages of that buildout. KOTRA announced Friday that it held the "Korea-India Semiconductor Partnership Week" from Wednesday through Saturday in conjunction with Semicon India 2026 at Yashobhoomi in New Delhi. The event is one of the follow-up initiatives stemming from expanded economic cooperation between the two countries since President Lee Jae Myung's state visit to India in April. During that visit, Lee and Indian Prime Minister Narendra Modi agreed to raise bilateral trade from around $25 billion annually to $50 billion by 2030 and to accelerate negotiations on improving the Korea-India Comprehensive Economic Partnership Agreement (CEPA). Having held an event last month to boost exports of Korean consumer goods, KOTRA broadened the scope of cooperation this time to cover the semiconductor supply chain. The program ran from policy seminars on India's semiconductor landscape to exhibitions, export consultations and roundtable discussions between companies from both countries. India is building a domestic semiconductor production base through its government-led India Semiconductor Mission (ISM), channeling roughly $8.4 billion in subsidies into the effort. Of the 12 semiconductor projects currently approved, nine are concentrated in back-end processes such as packaging and testing. Global companies including Micron and Foxconn have also been making local investments. India's semiconductor market is forecast to more than double, from $54 billion last year to $110 billion by 2030. With the Indian government rolling out a follow-on policy called "Semicon 2.0," competition among global companies to secure early positions in production equipment, materials and components is intensifying. Semicon India 2026, which opened Thursday, drew more than 600 companies from 52 countries. South Korea set up a dedicated national pavilion alongside Japan, the Netherlands, Singapore and others. KOTRA is particularly focused on helping small and mid-sized Korean materials, components and equipment firms enter India's new production facilities as suppliers from the ground up. The strategy targets not only cutting-edge advanced-node processes but also equipment for mature-node processes widely used in automotive and home appliance applications, as well as the materials and components market for local factories. Earlier, KOTRA invited Amitesh Kumar Sinha, CEO of the India Semiconductor Mission, to an online policy briefing for Korean companies on Sept. 8. The Semiconductor Partnership Strategy Seminar held Wednesday in New Delhi brought together Invest India, the Electronics Sector Skills Council of India (ESSCI), KPMG and EY, among others. The session introduced Korean companies to India's semiconductor market outlook, regional investment conditions, tax and labor regimes, and strategies for securing local talent. Fifteen Korean companies dealing in back-end semiconductor equipment, packaging materials and power semiconductors participated in the Korean pavilion, which runs for three days starting Thursday. Those firms held a total of 80 one-on-one export and technology cooperation consultations with 40 Indian buyers. Major local semiconductor companies — including Tata Electronics, Kaynes, CG Semi and IndiaChip — also took part, exploring the possibility of adopting Korean products and technology. On Friday, KOTRA co-hosted the "Korea-India Semiconductor Roundtable" with the India Electronics and Semiconductor Association (IESA). About 60 representatives from companies, government agencies and industry organizations from both countries attended, discussing supply chain cooperation and investment incentives. Semiconductors are also playing a growing role in bilateral trade. Korea's exports to India totaled $16.8 billion in the January–August period this year, up 30.8 percent from the same period a year earlier. Rising semiconductor demand driven by India's expanding investment in AI and data centers was identified as a key factor behind the export surge. KOTRA plans to connect the purchasing and investment demand identified at the event with additional Korean companies, and to provide follow-up support for promising projects through its Global Partnering program. A market report on India's semiconductor industry and entry environment is also set for release in the fourth quarter of this year. "Now is the time to partner with local players and prepare to secure an early position in the market, as India emerges as a global semiconductor production hub," KOTRA President Kang Kyung-sung said. "We will do our utmost to expand the K-materials, components and equipment partnership — building on consumer goods and now centering on semiconductors — to help usher in the era of $50 billion in Korea-India trade by 2030, as announced by the two leaders during the April summit."

Sept. 18, 2026

Fuel tax cuts extended two months to end of November

Reductions of 15% on gasoline, 25% on diesel and 25% on butane to remain in place The government has decided to extend its temporary fuel tax cuts by two months as global oil prices turn volatile again, pushing back the expiration date from the end of this month. The Ministry of Economy and Finance announced Friday that the extension was decided at an emergency economic headquarters meeting chaired by Deputy Prime Minister Koo Yun-cheol, citing persistent instability in the Middle East and the need to ease the public's fuel costs while preserving policy room to respond to further shocks. Under the extension, the current reduction rates — 15% on gasoline, 25% on diesel and 25% on butane — will remain in effect through the end of November. Per-liter fuel tax rates, including a 10% value-added tax, stand at 698 won for gasoline, 122 won below the pre-cut level. Diesel is held at 436 won, down 145 won, and butane at 152 won, down 51 won. To implement the extension, the government plans to submit amendments to the enforcement decrees of the Transportation, Energy and Environment Tax Act and the Individual Consumption Tax Act to a future Cabinet meeting before putting them into effect.

Sept. 18, 2026