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Telecommunications & Media

KT takes part in ministry-led 2026 READY Korea wildfire extinguishing drill

KT said on Oct. 5 it took part in the 2026 READY Korea wildfire extinguishing integrated drill hosted by the Ministry of the Interior and Safety in Chilgok, North Gyeongsang Province. KT said it was the only telecom operator to participate on site and conducted a comprehensive check of its response system as an operator of the disaster safety communications network. It operated mobile base station vehicles and reviewed emergency contact and outage assessment procedures.

Industry

Samsung Electronics provides 3 billion won to support flood recovery in Gyeongsang

Samsung donated 3 billion won to support residents in areas hit by torrential rains, including Geoje and Tongyeong in South Gyeongsang and Andong and Uiseong in North Gyeongsang, it said on Aug. 28. Nine affiliates joined the donation. Separately, Samsung will provide 1,000 emergency relief kits and 300 tent-type disaster relief shelters via the Korean Red Cross. Samsung Card will offer payment deferrals, interest reductions and loan maturity extensions for affected customers.

Crypto

U.S. lawmakers urge CFTC to ban wildfire betting in prediction markets

Nine Democratic U.S. senators urged the Commodity Futures Trading Commission to ban prediction-market contracts tied to wildfires, saying such betting could incentivise arson, enable insider trading and undermine public safety. The senators cited Polymarket taking in more than $1.2 million in bets linked to California wildfires in 2025 and said other new platforms also allow wildfire wagers. Their push comes as prediction markets expand and face rising legal and political pressure over regulation.