Korea Trade Insurance Corporation to Support $100 Million for European Smartphone Market Expansion The Korea Trade Insurance Corporation (K-Sure) announced it will provide $100 million (approximately 80 million euros) in trade insurance to help domestic companies expand their market share in the European smartphone sector.This support will utilize trade insurance to finance the purchase of Samsung mobile devices by a Spanish telecommunications company. Banks will extend the payment period for the importer by using the trade insurance as collateral, easing the liquidity burden for the Spanish July 28, 2026

Kakao Bank Surpasses 5 Million Users for Investment Tab, Fund Balance Reaches 1.8 Trillion Won Kakao Bank's investment service is experiencing rapid growth.As of July 26, Kakao Bank reported that the cumulative number of users for its 'Investment Tab' has reached 5.43 million, just three months after its launch in April.The Investment Tab allows users to manage their investment assets in one place and explore products tailored to their investment preferences. It consists of an 'Investment Home' for checking the status of held investment products and a 'Discovery Home' that provides variou July 28, 2026

China Begins Production of Immersion DUV Equipment, Causing Semiconductor Stocks to Plummet A company supported by the Chinese government has started production of immersion deep ultraviolet (DUV) lithography equipment for semiconductor manufacturing, leading to a sharp decline in global semiconductor equipment stocks. Concerns over China's progress in localizing semiconductor equipment have dampened investor sentiment.Bloomberg reported on July 27, citing the U.S. IT media outlet The Information, that a Shanghai-based Chinese company has begun producing its own immersion DUV lithograp July 28, 2026

Middle East Risks Weigh on Business Sentiment, August Outlook Drops to 80s As risks in the Middle East escalate, domestic business outlook has declined. While exports, particularly in semiconductors, have increased, most indicators related to cash flow, domestic demand, and profitability remain below baseline levels.The Korea Economic Association (KEA) reported on July 28 that the Business Sentiment Index (BSI) forecast for August stands at 89.9. This marks an 8.1-point drop from the previous month’s figure of 98, falling back into the 80s for the first time in three m July 28, 2026

Chabot Motors Opens Ram Pickup Truck Showroom in South Korea Chabot Motors has opened a showroom for the American pickup truck brand Ram, serving as the official importer in South Korea.On July 27, Chabot Motors announced the launch of the first official showroom, 'Ram Trucks Seoul.'Located in Seongnam, Gyeonggi Province, the showroom is situated in a prominent area known for its concentration of major imported car brands. This strategic location aims to maximize connections with customers in the metropolitan area who prefer premium pickup trucks, thanks July 28, 2026

Samsung Wallet Adds Hana Travel Log Check Card with 10% Points on Overseas Payments Samsung Electronics announced on July 27 that it has added the 'Samsung Wallet Hana Travel Log Check Card' in collaboration with Hana Card. This card combines Samsung Wallet's convenient payment experience with Hana Card's overseas specialized services.The card retains key benefits from the existing Travel Log Check Card, including 100% exchange rate preferential free currency exchange, exemption from fees for using overseas merchants, and no fees for withdrawals from overseas ATMs. Additionally July 28, 2026

Heat Wave Increases Air Conditioner Fires; Watch for Warning Signs As the heat wave continues, incidents of fires related to air conditioner outdoor units are on the rise.According to fire authorities, a fire broke out at 9:30 a.m. on July 27 in the outdoor unit room of an 11th-floor apartment in Magok-dong, Gangseo District, Seoul.The flames spread up the exterior of the building but were extinguished within about 30 minutes. Approximately 40 residents evacuated the building, but no injuries were reported.Fire officials are investigating the cause of the fire, July 28, 2026

Low-Credit Borrowers Turn to Illegal Lending as Rejections Rise Low-credit borrowers are increasingly being pushed into illegal lending as they struggle to secure loans from banks and second-tier financial institutions. It is estimated that the amount of money shifted to illegal lending last year exceeded 1.5 trillion won.On July 28, the Korea Institute of Financial Services reported that a survey of 977 low-credit individuals who had experience with either licensed lenders or illegal financial services over the past three years found that 59.4% had been rej July 28, 2026

SM Group's Samhwan Corporation Wins 1.3 Trillion Won Contract for Miho River Bridge Upgrade Samhwan Corporation, a construction subsidiary of SM Group, has once again demonstrated its competitiveness in public sector projects by securing a contract for the upgrade of the aging Miho River Bridge.On July 28, Samhwan Corporation announced that it has been selected as the contractor for the renovation of the Miho River Bridge, located in Osong-eup, Cheongju, Chungcheongbuk-do, which connects Jochiwon and Naepan. The bridge, completed in 1938, spans a total length of 440 meters.The project July 28, 2026

Next Year's Budget Proposal Includes 100 Trillion Won Future Response Fund The budget proposal for next year is expected to include a 'Future Response Fund' aimed at investing additional tax revenue anticipated from the semiconductor boom into future growth drivers. However, addressing potential overlaps with existing policy funds and securing resources amid tax revenue volatility are challenges that need to be resolved.According to relevant government departments on the 27th, the government plans to establish the Future Response Fund using additional tax revenue expec July 28, 2026