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Telecommunications & Media

Hong Beom-sik of LG Uplus added as witness for parliament audit; Google, X and Meta Korea executives also

Hong Beom-sik (홍범식), chief executive of LG Uplus, has been additionally selected as a witness for a parliamentary audit by the National Assembly’s Science, ICT, Broadcasting and Communications Committee. The committee approved requests to summon five witnesses and three reference witnesses at a plenary meeting on Oct. 15. Executives from Google Korea, X Korea and Meta Korea are set to attend on Oct. 22, with an LG Uplus security officer to appear on Oct. 23.

AI & Enterprise

MSIT holds briefing on national R&D administrative reform to introduce \'moving target\'

South Korea\'s Ministry of Science and ICT gathered on-site opinions on a proposal to improve administrative rules for national research and development. The package includes introducing a \"moving target\" system that allows research goals to be changed quickly, and aims to raise the efficiency of national R&D by reflecting views from the field. The ministry held a briefing on Sept. 22 at Catholic University attended by researchers from universities, companies and institutes.

Crypto

Cautious on financial investment income tax, presses ahead with digital asset tax as equity dispute lingers

The government is holding to its plan to impose tax on digital asset income from 2027 while taking a cautious stance on introducing the financial investment income tax, keeping alive an equity dispute with listed stocks. The industry says preparation is lacking, including verification of acquisition costs and tax standards by transaction type, and calls for a review of the timeline. Analysts and industry groups also raise issues such as loss carryforwards, data links and overseas trading information.