Tesla Considers Selling China Operations Amid U.S.-China Competition; Musk Calls It 'Fake News' Elon Musk, CEO of Tesla, has hinted at the possibility of merging his aerospace company SpaceX with Tesla, while the Wall Street Journal reported on July 30 that he is considering selling Tesla's China operations amid U.S.-China competition. However, Musk has denied these claims, labeling them as 'fake news.'According to the report, Musk has directed Tesla's management in recent years to clearly separate the U.S. and China divisions. This restructuring aims to ensure that at least the U.S. opera July 31, 2026

Gwangju, South Korea, Prepares for World Gimbap and Salt Festival The Gwangju Metropolitan City is ramping up preparations for the '2026 World Gimbap and Salt Festival,' set to take place in Yeosu this October.On July 31, Gwangju officials held a kickoff meeting at the Muan Government Complex to discuss the event's basic direction and detailed plans.Attendees included Gwangju officials, event organizing agencies, and field experts, who collectively reviewed the layout of the venue, core program operations, promotional and marketing strategies, visitor amenitie July 31, 2026

SOOP Reports 57.9% Drop in Q2 Operating Profit, Plans Platform Revamp for Recovery SOOP reported disappointing results for the second quarter of this year, but there are signs of recovery in donation economy revenue and traffic. The company plans to boost performance in the second half of the year by expanding the influx of new streamers and users, revamping the platform, and diversifying its advertising business.On July 31, SOOP announced that its consolidated revenue for the second quarter of 2026 was 103.8 billion won, with an operating profit of 12.6 billion won and a net July 31, 2026

SK Siltron Acquired by Doosan Group for 2.3 Trillion Won SK Siltron, valued at 5 trillion won, has been acquired by Doosan Group. This acquisition completes the final piece of Doosan Chairman Park Jung-won's strategy for vertical integration in the semiconductor sector, encompassing everything from wafer production to electronic materials and post-processing testing.On July 31, SK held a board meeting and approved the sale of a 70.6% stake in SK Siltron to Doosan for 2.3 trillion won. A stock purchase agreement (SPA) is expected to be signed soon, fol July 31, 2026

Ulsan City to Resume Tram Line 1 Procedures, Citing Lack of Legal Authority for Suspension Ulsan City has decided to prioritize the resumption of procedures for the suspended Tram Line 1 project. However, the city plans to continue exploring legal options for a legitimate suspension of the project before the main construction begins next year.Ulsan Mayor Kim Sang-wook stated at a tram response meeting held at city hall, "Since a contract has been signed, we cannot act beyond our legal authority," adding, "It seems difficult to continue making formal requests for project suspension." S July 31, 2026

ETF Trading Halted Ahead of Korean Exchange Aftermarket Launch As the Korean Exchange prepares to launch its aftermarket on September 14, the likelihood of exchange-traded funds (ETFs) being included in trading has diminished. Asset management firms are reportedly uniting in their decision not to participate in the application process for trading due to concerns over increased liquidity provider (LP) management burdens amid market volatility.According to the financial investment industry on July 31, executives from asset management firms reached a consensus July 31, 2026

Hanmi Group Denies Allegations of Misuse of Corporate Credit Card by Chairwoman Hanmi Group has refuted media reports alleging that Chairwoman Song Young-sook and her family misused a corporate credit card, stating that the card was used for management and operational purposes. The company also announced plans for legal action against those responsible for what it claims are illegally obtained and distorted materials.In a statement on July 31, Hanmi Group asserted that Song has been executing budgets for management and operational tasks both during and after her tenure as C July 31, 2026

Financial Authority Reduces Lotte Card's Business Suspension for Data Breach The Financial Services Commission has imposed a 1.5-month business suspension on Lotte Card following a cyber breach that exposed the information of 2.97 million customers. This penalty is significantly lower than the 4.5-month suspension recommended by the Financial Supervisory Service, taking into account the potential impact on consumers.On July 31, the Financial Services Commission finalized the sanctions during a regular meeting.Investigations revealed that Lotte Card violated security obli July 31, 2026

Three Candidates for Democratic Party Leadership Celebrate Passage of Criminal Procedure Law Amendment On July 31, the three candidates for leadership of the Democratic Party of Korea welcomed the passage of an amendment to the Criminal Procedure Law, which abolishes supplementary investigative authority. However, candidate Song Young-gil stated that this achievement should not be used as a slogan for the party convention.Candidate Kim Min-seok expressed on Facebook, "We have overcome another major hurdle in prosecutorial reform," adding that the strong will and reformative decision of the Lee Ja July 31, 2026

Jung Jeom-sik Urges President Lee to Veto Bill Abolishing Prosecutors' Investigative Powers 정점식 국민의힘 원내대표는 31일 국회 본회의에서 검사의 보완수사권 폐지를 골자로 한 형사소송법 개정안이 여당 주도로 통과되자 이재명 대통령을 향해 "'이재명 탈옥법'이라는 오명을 받기 싫다면 재의요구권(거부권)을 행사하라"고 촉구했다. 정 원내대표는 이날 국회에서 기자들과 만나 "법안이 본회의를 통과하고 정부로 이송되면 대통령은 15일 이내에 재의요구권을 행사할지 여부를 결정해야 한다"며 "이제 공은 이 대통령에게 넘어갔다"고 말했다. 정 원내대표는 "현재 법안에는 July 31, 2026