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Finance

NACF mutual loans delinquency at 17.5 percent; executive bonuses paid at loss-making co-ops

South Korea\'s parliamentary audit spotlighted weakness in mutual finance at local agricultural cooperatives under the National Agricultural Cooperative Federation, with joint-loan delinquency cited at 17.5 percent. Data presented by opposition lawmakers showed higher delinquency in loans to non-members and quasi-members and most estimated losses tied to those loans. Lawmakers also raised concerns about executive performance bonuses at loss-making cooperatives and questioned oversight, internal controls and the effectiveness of supervision and audits.

AI & Enterprise

NST to hire 100 specialists to strengthen administrative functions at government-funded research institutes

National Science and Technology Council (NST) will hire 100 specialists to professionalise common administrative functions across government-funded research institutes. NST said it will recruit in five fields in two rounds. The first round will hire 64 people for recruitment, public relations, grievance handling and audit roles, with applications accepted through Sept. 29. A second round after October will hire 36 in audit and information security.

Games & Commerce

KakaoAI inaugural board takes shape, with former minister and ex-tax chief joining

Kakao plans to staff the inaugural board of KakaoAI, which it will create through a corporate spin-off, with experts in technology, policy and finance. A company filing shows the board is set to have seven members, including two inside directors and four outside directors. They include former science minister Lim Hye-sook (임혜숙) and former National Tax Service chief Kim Dae-ji (김대지). Kakao plans to complete the split on Jan. 1.