Gijang County Launches Task Force to Combat Corruption and Waste Gijang County in Busan has launched a dedicated organization to prevent corruption and budget waste, and is conducting joint inspections of coastal blind spots with the county council to enhance transparent and accountable governance.The initiative aims to ensure fairness in administrative procedures while increasing effectiveness through on-site communication.On July 29, Gijang County officially launched the 'Task Force for Comprehensive Investigation of Corruption and Wasteful Projects' to enh July 30, 2026

U.S. Stocks Plunge Despite Fed's Rate Hold; Dow Falls 2.19% U.S. stock indices fell sharply on July 29, 2026, as the Federal Reserve held interest rates steady, but concerns about potential rate hikes lingered due to dissent among some committee members. Investor sentiment was further dampened by rising oil prices and long-term Treasury yields amid escalating tensions in the Middle East.The Dow Jones Industrial Average closed down 2.19% at 51,594.14. The S&P 500 dropped 1.52% to 7,316.15, while the tech-heavy Nasdaq Composite fell 1.74% to 24,442.94. July 30, 2026

Black Wednesday Hits Markets Despite SK Hynix Record Earnings Black Wednesday Hits Markets Despite SK Hynix Record Earnings On July 29, the Korea Exchange reported that the KOSPI closed at 5,663.24, down 360.42 points (5.98%) from the previous trading day. The KOSDAQ started at 713.71, up 7.86 points (1.11%), but quickly turned downward, finishing at 662.68. The sharp decline triggered the 15th first-stage circuit breaker in history and the ninth this year for the KOSPI. The KOSDAQ also activated its 14th first-stage circuit breaker, marking the first time July 30, 2026

Importance of Direction Over Speed in Korea-China FTA Phase 2 Negotiations In January, following President Lee Jae-myung's visit to China, the Korea-China Free Trade Agreement (FTA) Phase 2 negotiations were officially reactivated under an agreement between the two leaders to achieve "meaningful progress within the year." The 13th round of service and investment follow-up negotiations began in Beijing in January, followed by the 14th round in Seoul in April and the 15th round in Beijing in June, with negotiations continuing on a bimonthly basis.The Korea-China FTA, w July 30, 2026

Trump Warns of Strong Retaliation After Iran Missile Attack President Donald Trump has warned of a strong retaliation following Iran's missile attack on a U.S. military base in Jordan.On July 29, local time, Trump referenced the Iranian attack, stating, "Now it's our turn," and promised to strike them "very hard."In a phone interview with Fox News, Trump used strong language, saying, "We will hit them hard. They will be hit."Earlier, the Iranian Revolutionary Guard Corps (IRGC) announced that it had launched ballistic missiles targeting the Muwaffaq Salt July 30, 2026

Israeli Army Chief Warns of Deeper Incursion into Lebanon if Necessary Israeli Army Chief of Staff Eyal Zamir has warned that military operations in Lebanon could expand further.On July 29, local time, Zamir visited the southern operational area in Lebanon and stated, "If necessary, we will advance deeper and reach other areas."Zamir emphasized, "The military operations ongoing on various fronts are not over yet," adding that plans are being prepared to respond to any changes in the situation.This statement comes amid rising tensions between the Israeli military an July 30, 2026

Drone Attack Reported on U.S.-Owned LNG Vessels in Egypt A U.S.-owned liquefied natural gas (LNG) storage and supply vessel docked at Egypt's Damietta Port was reportedly attacked by a drone. The fire spread to a nearby LNG carrier, but no casualties were reported.According to Reuters on July 29, the British maritime security firm Ambrey stated that the 'Energos Winter' appeared to have been struck by a drone.Industry sources indicated that the fire from the Energos Winter spread to the nearby LNG carrier 'Gaslog Salem.' Other security sources also re July 30, 2026

Iran Condemns U.S.-Saudi Airstrikes on Pro-Iran Forces in Iraq Iran has strongly condemned airstrikes conducted by the United States and Saudi Arabia against pro-Iran armed groups in Iraq.On July 29, the Iranian Foreign Ministry issued a statement labeling the attacks as a "clear violation of Iraq's sovereignty and territorial integrity." It also claimed that the strikes contravened the United Nations Charter and international law.The ministry noted that the airstrikes targeted facilities owned by the Iraqi government and those supporting Shiite pilgrims, w July 30, 2026

U.S. Patriot Missile Stockpiles Plummet Amid Ongoing Iran Conflict The ongoing conflict in Iran has led to a significant reduction in U.S. military stockpiles of key interceptor missiles, now estimated to be at just 40% of pre-war levels. According to the Center for Strategic and International Studies (CSIS), as of July 27, the U.S. military's inventory of Patriot interceptor missiles is estimated to be between 759 and 827 units, down from approximately 2,330 units just before the war began in February. Similarly, the stockpile of Terminal High Altitude Area De July 30, 2026

U.S. and Saudi Airstrikes Kill Five Iranian Military Advisors in Iraq U.S. and Saudi airstrikes targeting Iranian-backed militias in Iraq have resulted in the deaths of five Iranian military advisors, according to a report by AFP on July 29. Sources from the Popular Mobilization Forces (PMF), an armed group affiliated with the Iraqi government, confirmed to AFP that the Iranian advisors were killed in airstrikes conducted in Diyala province, located in central Iraq. AFP reporters observed coffins draped in Iranian flags at a funeral for the airstrike victims held July 30, 2026