Seoul City Buses Face Possible Strike Tomorrow
Contract-Based Academic Programs Draw Surging Student Interest

1. A National Assembly confirmation hearing was held for Justice Minister nominee Kim Seung-won.

A heated debate unfolded between the ruling and opposition parties over allegations of lobbying by Kim's side towards the Ministry of Food and Drug Safety. On the same day, confirmation hearings were also held for Deputy Prime Minister for Economic Affairs nominee Lee Hyung-il and Minister of SMEs and Startups nominee Lee So-young. On the 16th, confirmation hearings for Minister of National Defense nominee Kang Shin-chul and Minister of Land, Infrastructure and Transport nominee Hong Ji-sun will take place.


2. Former Gyeonggi Province Governor Kim Dong-yeon rebutted current Governor Choo Mi-ae, stating that "an expansionary fiscal policy is a responsible choice."

On this day, former Governor Kim posted on Facebook under the title "I Fulfilled My Responsibilities With Expansionary Fiscal Policy" and systematically refuted Governor Choo's arguments about a financial crisis. This comes 13 days after Governor Choo publicly criticized the fiscal management of the previous administration in Gyeonggi Province at the Gyeonggi Provincial Council on the 2nd.

Gyeonggi Province Governor Choo Mi-ae is giving a greeting at the "Generous Chuseok Love Sharing Ceremony" held on the 11th at the Gwanggyo Comprehensive Social Welfare Center in Yeongtong-gu, Suwon-si, Gyeonggi Province. Photo by Yonhap News

Gyeonggi Province Governor Choo Mi-ae is giving a greeting at the "Generous Chuseok Love Sharing Ceremony" held on the 11th at the Gwanggyo Comprehensive Social Welfare Center in Yeongtong-gu, Suwon-si, Gyeonggi Province. Photo by Yonhap News

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3. There is a possibility that Seoul intra-city buses could go on strike starting from the first service tomorrow.

Labor and management are in last-minute negotiations over ordinary wage application and the scale of wage increases. If talks break down, a full-scale strike will begin with the first buses on the 16th. Seoul City has prepared emergency transportation measures, including free shuttle buses.



4. Contract-based academic programs linked to employment are attracting a surge of student applicants.

For the 2027 early admissions, the number of applicants for contract-based academic programs run by large corporations such as Samsung Electronics, SK hynix, and Hyundai Motor increased by more than 18% compared to the previous year, reaching an all-time high.



5. There are growing expectations that the surge in oil prices will accelerate a U.S. interest rate hike.

With Brent crude oil surpassing $105 per barrel, market participants now see a very high probability of the U.S. Federal Reserve raising its benchmark rate in September. This is also expected to place additional pressure on domestic prices, the exchange rate, and the stock market.


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