South Korea concerned about work balance

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• South Korea concerned about work balance

• Despite their focus on AI, Naver and Kakao reduced their R&D expenses in the first half of the year.

• BLACKPINK's Lisa has released her new single titled "New Woman."

NEWS 📰

South Korea concerned about work balance

Jin Yu Young's article on South Korea's evolving work culture highlights the clash between traditional corporate expectations and the changing attitudes of younger generations. Now a reporter for The New York Times in Seoul, Jin contrasts South Korea's rigorous work culture with the more passion-driven job market she observed during her childhood in North America.

Her story focuses on recent efforts by some South Korean companies to increase managers' working hours, a move that has sparked backlash, especially among younger workers who prioritize work-life balance. Despite challenges in getting companies to discuss these policies on the record, Jin uncovered how these new demands reflect a broader generational shift. Insights from former Samsung employee Lim Hyun-kyu and sociology professor Joon Han reveal how younger job seekers are less willing to make the sacrifices their parents did.

Jin's article resonated with readers, tapping into a global conversation about work-life balance. Its success has led to discussions about continuing to explore these themes in her future reporting.

Despite their focus on AI, Naver and Kakao reduced their R&D expenses in the first half of the year.

Naver and Kakao, two of South Korea's leading platform companies, have reduced their R&D spending in the first half of this year, despite their stated ambitions to expand in the field of artificial intelligence (AI).

Naver's semiannual report reveals a 6.86% decline in R&D expenses, totaling 898.8 billion won, down from 965 billion won in the same period last year. This marks the first reduction in Naver's first-half R&D spending since 2020. Similarly, Kakao's R&D spending dropped by 4.27% to 649.9 billion won compared to the second half of 2022, despite showing a year-on-year increase.

These cuts come as both companies emphasize AI as a future growth driver. Naver launched its HyperCLOVA X AI platform, while Kakao has been preparing its KoGPT 2.0 AI model. However, the reduced investments indicate a more cautious approach amid concerns that the global AI boom could be a bubble.

This hesitation has impacted investor confidence, with Naver’s stock price falling 8.22% and Kakao’s declining 10.64% over the past month. Despite public commitments from both CEOs to focus on AI, the slowdown in spending suggests they are reassessing the immediate growth potential of their AI initiatives.

ENTERTAINMENT 🌄

BLACKPINK's Lisa has released her new single titled "New Woman."

Lisa of BLACKPINK has released her new solo single, "New Woman," featuring Spanish pop star Rosalia. Produced by renowned figures Max Martin and Ilya Salmanzadeh, the song marks Lisa's first release since her June single "Rockstar," which achieved notable success by reaching No. 8 on Spotify's global chart and No. 70 on the Billboard Hot 100.

"Rockstar" also earned Lisa four nominations for the 2024 MTV Video Music Awards, set for September 10 in New York. In addition to her music achievements, Lisa will be featured on the cover of the U.S. fashion magazine Elle for its September issue and will co-headline the Global Citizen Festival in New York on September 28.

General Jobs 💼

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