Court Upholds Travel Ban on Moss Tan, Citing Risk of Flight Moss Tan, a Korean-American former professor at Liberty University, has had his request to cancel a travel ban by the Ministry of Justice denied. Tan is facing charges for allegedly spreading false information that defamed President Lee Jae-myung.On July 31, Judge Kim Tae-hwan of the Seoul Administrative Court ruled against Tan's lawsuit challenging the extension of his travel ban. The court found that the public interest in securing state punishment outweighed any disadvantages Tan might face f July 31, 2026

Fire Breaks Out at Factory in Yeongcheon, South Korea A fire broke out at a factory in Sinnyoung-myeon, Yeongcheon, Gyeongbuk.According to Yonhap News and local fire authorities, the blaze started around 1:51 p.m. on July 31, and firefighting efforts are currently underway.So far, there have been no reported injuries.Fire officials suspect that the fire was triggered by an explosion at an oil tank in the factory.They stated, "We received reports of a loud noise from the oil tank followed by smoke rising. We will work to extinguish the fire as quick July 31, 2026

Hanwha Aerospace Secures 15% Stake in KAI, No Plans for Additional Purchases Hanwha Aerospace announced during its second-quarter earnings conference call on July 31 that it has secured approximately a 15% stake in Hanwha Systems and Korea Aerospace Industries (KAI). The investment aims to establish a collaborative framework in key defense and aerospace sectors.Regarding the possibility of acquiring additional shares, the company stated, "There are no ongoing discussions with other shareholders, such as the Export-Import Bank, on this matter," adding, "No additional shar July 31, 2026

Ruling Party Recommends Choi Gil-soo as Special Inspector to Oversee President Lee The Democratic Party has recommended attorney Choi Gil-soo as the candidate for special inspector to oversee President Lee Jae-myung. Choi is regarded as a figure with political neutrality, objectivity, and expertise.Han Byung-do, the party's acting leader and floor leader, announced the recommendation during a press conference at the National Assembly, stating, "The special inspector system has remained vacant for the past ten years."He added, "President Lee has expressed his willingness to be July 31, 2026

SK Group's Chey Tae-won Gains Over $10 Million in Value from SK Hynix Stock Purchase Chey Tae-won, chairman of SK Group, realized a valuation gain of over 14 billion won (approximately $10.7 million) just one day after purchasing shares of SK Hynix.According to the Korea Exchange on July 31, SK Hynix's stock price surged by 29.95% to reach the upper limit of 1,718,000 won.On the previous day, Chey disclosed that he acquired 3,620 common shares through on-market purchases. Based on the previous closing price of 1,322,000 won per share, the total purchase amounted to 4,785,564,000 July 31, 2026

EcoProBM Reports 2nd Quarter Operating Profit of 18 Billion Won, Down 63.2% Year-on-Year EcoProBM announced on July 31 that it recorded a consolidated revenue of 576.7 billion won and an operating profit of 18 billion won for the second quarter of this year. Both revenue and operating profit decreased by 26% and 63.2%, respectively, compared to the same period last year.With the recent increase in AI-related semiconductor production facilities and rising demand for electric bicycles in Southeast Asia, shipments for power applications, including electric tools and bicycles, rose by 2 July 31, 2026

KOSPI Surges Over 17% Amid Strong Foreign Buying and Semiconductor Stocks Rally The KOSPI index has surged over 17% during trading, buoyed by strong earnings from major U.S. tech companies and a recovery in semiconductor investment sentiment. With foreign buying exceeding 9 trillion won, the market has seen a concentrated buying spree in semiconductor stocks, prompting a bullish trend in both the main and KOSDAQ markets after a buying sidecar was activated.As of 2:22 PM on July 31, the KOSPI was trading at 6,550.71, up 957.15 points (17.11%) from the previous trading day. A July 31, 2026

Hanwha Aerospace: Daejeon Incident's Impact on Q2 Results Limited Hanwha Aerospace stated during its second-quarter earnings conference call on July 31 that the Daejeon incident had a limited impact on its Q2 results, although some revenue was deferred due to the suspension of operations. The company emphasized its commitment to normalization efforts.Additionally, the company expressed that it is taking the incident very seriously and has established a Safety Culture Innovation Committee to systematically review and improve safety measures.* This article has b July 31, 2026

SK Hynix Proposes Wage Adjustments Amid Union Opposition SK Hynix and its labor union are at an impasse in their fourth round of negotiations over wages and collective agreements. The company has proposed a plan to pay part of the performance bonuses in stock and to temporarily adjust wages in the event of losses, prompting significant backlash from the union.According to the minutes from the fourth round of negotiations released by the SK Hynix union, the company presented a revised wage structure that includes changes to the performance bonus paymen July 31, 2026

Jangsu County Launches Self-Check Window for Acquisition Tax Reductions Jangsu County in North Jeolla Province announced on July 31 that it will operate a 'self-check window for acquisition tax reductions' at the county office to help taxpayers avoid missing out on potential benefits during the acquisition tax reporting process.The acquisition tax reduction program covers various areas, including first-time home purchases and support for childbirth and child-rearing. However, the complexity of related laws and the variety of reduction types often leave taxpayers una July 31, 2026