Fair Trade Commission Fines Cial Holdings 79 Million Won for Violating Holding Company Regulations Cial Holdings has been penalized by the Fair Trade Commission for holding an excessive amount of stocks in non-affiliated companies during its transition to a general holding company.On July 29, the Fair Trade Commission announced that it would impose a fine of 79 million won on Cial Holdings for holding non-affiliated stocks exceeding 15% of the total value of its subsidiaries. Cial Holdings has subsidiaries including Chosun Refractories, which produces special bricks, and the golf course Hwase July 29, 2026

Retail Sales Increase 7.3% in First Half of 2026, Department Stores Up 20% Retail sales among major companies in South Korea increased by more than 7% in the first half of 2026. The surge in department store sales was driven by improved consumer sentiment and an increase in foreign tourists, while large supermarkets and super supermarkets (SSMs) continued to struggle with declining food sales.The Ministry of Trade, Industry and Energy reported on July 29 that the total sales of 26 major retail companies rose by 7.3% compared to the same period last year. Offline sales July 29, 2026

Hanwha Solutions Reports 200% Increase in Q2 Operating Profit Hanwha Solutions announced on July 29 that it achieved consolidated sales of 4.5826 trillion won and an operating profit of 306.5 billion won for the second quarter of 2026. Sales increased by 47.01% and operating profit rose by 200.33% compared to the same period last year.By business segment, the renewable energy sector reported sales of 2.4823 trillion won and an operating profit of 166.4 billion won. The increase in sales and operating profit was attributed to rising module prices, the sale July 29, 2026

Big Tech Faces Market Anxiety Ahead of Q2 Earnings Amid Cash Flow Concerns As the return on investment for artificial intelligence (AI) investments by major tech companies reaches historic lows, market anxiety is rising ahead of the second-quarter earnings reports from Microsoft (MS) and Meta. Following Alphabet's earlier results, which indicated an expected increase in capital expenditures (CAPEX), attention is focused on potential adjustments in corporate valuations. According to the IT industry on July 29, Microsoft and Meta are set to release their second-quarter ( July 29, 2026

Number of Prepaid Installment Companies Drops to 74 in Q2, FTC Warns Consumers In the second quarter of this year, the number of operating prepaid installment companies decreased to 74 as two firms filed for bankruptcy.The Fair Trade Commission (FTC) released a report on July 29 detailing major changes in the information of prepaid installment companies for the second quarter of 2026. The FTC publishes updates on significant changes in the information of these companies each quarter to prevent consumer harm.According to the FTC, Daeno Welfare Business Group and Agape Life, July 29, 2026

Bangladesh CEPA Negotiations Near Completion, Trade Chief Says It Will Enhance Business Predictability As negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Bangladesh approach their conclusion, the South Korean government has discussed support strategies with companies looking to enter the market.The Ministry of Trade, Industry and Energy announced that Trade Negotiations Chief Yeo Han-goo held a meeting on July 29 at the Korea Chamber of Commerce and Industry with companies currently operating in Bangladesh and those considering entry. Nine companies from the textile ma July 29, 2026

Gwangju City Launches National Agricultural AI Platform with $254.6 Million Investment Gwangju City is partnering with the Ministry of Agriculture, Food and Rural Affairs to officially launch the National Agricultural AX (AI Transformation) Platform, aimed at transforming South Korea's agriculture through artificial intelligence (AI).The city announced that it has signed an implementation agreement with the ministry for the National Agricultural AX Platform construction project, marking the start of a national strategic initiative to create an advanced agricultural ecosystem based July 29, 2026

Jinan County's Official Facebook Wins Top Award for Local Government Communication Jinan County's official Facebook page has won the Grand Prize in the local government category at the prestigious 'Social Media Awards 2026'.According to the county on July 29, the Social Media Awards evaluates entries based on five categories: service, visuals, branding, marketing, and content, using 15 detailed criteria through four stages of judging: preliminary, main, final, and ultimate.The official Facebook page, which has fostered authentic communication with visitors through emotional co July 29, 2026

Wanju County Launches Record-Breaking Senior Employment and Social Activity Program Wanju County in North Jeolla Province is set to operate its largest-ever senior employment and social activity support program, involving 4,867 participants.According to the county on July 29, this number represents an increase of 347 from the previous year.The county has secured a total budget of 22.1 billion won and plans to allocate additional funds through supplementary budgets to expand the program.In particular, the county aims to establish a specialized execution system for senior employm July 29, 2026

Iran Rejects Oman’s Proposal for Joint Management of Hormuz Strait Iran has rejected a proposal to jointly manage shipping traffic in the Hormuz Strait with Oman. Instead, Iran has suggested that it will control all incoming routes and some outgoing routes in the strait.According to Iran International on July 28, Kazem Gharibabadi, Iran's Deputy Foreign Minister, stated in a televised interview that discussions are ongoing with Oman regarding the resumption of shipping traffic in the Hormuz Strait.Oman had proposed that each country manage one entry and one exi July 29, 2026