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People & Appointments

Vice Minister Gu Hyeok-chae attends ceremony marking completion of national geological map project

Gu Hyeok-chae (구혁채), first vice minister of science and ICT, attended a ceremony on Sept. 10 at the Korea Institute of Geoscience and Mineral Resources marking the completion of the national basic geological map and encouraged geological survey researchers. The map divides areas south of the Korean peninsula\'s armistice line into 359 zones at a 1:50,000 scale and is used as basic data for resource exploration, land use and disaster and safety responses. The project began in 1924 and concluded this year with completion of a map covering parts of Jodo Archipelago in Jindo County, South Jeolla province.

Industry

First major R&D screening after pre-feasibility review abolition picks five projects including AI and aircraft engines

South Korea has selected five projects for the first review under a new pre-screening system for large research and development initiatives introduced after it abolished pre-feasibility reviews. The Ministry of Science and ICT said a committee chaired by Vice Minister for Science and Technology Innovation Park In-gyu (박인규) chose the projects on Thursday. The selected projects will be reviewed by an expert panel for about eight months, including on-site intensive checks.

Finance

President Lee Jae-myung says KOSPI still undervalued, drop below 8,000 part of normalisation

President Lee Jae-myung (이재명) said recent sharp gains and declines in South Korea\'s stock market should be seen more as a normalisation process than short-term volatility. He said the KOSPI remained somewhat undervalued even after rising faster than expected, and noted that a drop below 8,000 still left the index far above 2,700 before he took office. He also cited factors to restore trust, including easing geopolitical instability and eradicating stock price manipulation.