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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

Finance union opposes relocation of KDB, IBK, Korea Eximbank and NongHyup; 30,000 in strike

The National Union of Financial Industry Workers launched a general strike opposing plans to relocate Korea Development Bank, Industrial Bank of Korea, Korea Eximbank and NongHyup and other financial institutions outside Seoul. The union said the financial industry depends on concentration of specialised workers and cooperation among institutions, and warned uniform relocation could hurt competitiveness. It held a rally in central Seoul with about 30,000 participants, and said it may escalate action if talks make no progress.

Finance

Financial union opposes relocating financial institutions outside capital, seeks review of first-phase effects

The Financial Industry Union said it opposes the government’s push for a second phase of relocating public institutions outside the capital, rejecting a uniform move of financial bodies. It said the government should first assess the effects of the first relocation phase, including impacts on regional economies, settlement conditions and staff outflows, and then decide based on financial-sector characteristics. It also called for a development model linking local industry, finance, universities and jobs.