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AI & Enterprise

South Korea launches \'4 hubs, 3 special regions\' autonomous R&D plan, to invest 78.9 billion won in 7 zones

South Korea will shift its regional research and development system from a central government and province-led model to a zone-based, locally autonomous approach. The Ministry of Science and ICT said it launched the \'4 hubs, 3 special regions\' programme at KAIST on Wednesday and will push projects in seven zones. It will invest a total of 78.9 billion won this year and expand support after 2027.

Finance

Small business sales up 4.5 percent but margins fall for second straight quarter; delinquencies rise

South Korean small business sales rose 4.53 percent in the second quarter from a year earlier, but profit margins fell for a second straight quarter as expenses increased faster, a report by Korea Credit Data showed. Average revenue per business was 47.11 million won, while average spending rose 5.83 percent to 35.22 million won. Delinquent amounts on sole proprietors’ loans rose 4.3 percent from the previous quarter to 15.2 trillion won.

People & Appointments

IMI sponsors mental health arts program, awards 24 winners

IMI, which operates the game item trading platform Itemmania, sponsored a mental health culture and arts program run by Jeonbuk Special Self-Governing Province Maumsarang Hospital and awarded 24 winning works. IMI said it attended the awards ceremony on Sept. 3 as a sponsor. A total of 78 participants submitted 83 works. Selected entries will be exhibited in Jeonju and Jeongeup, and a collection will be produced and delivered to participants at year-end.