K-Beauty Smart Manufacturing Alliance Launched to Boost Export Competitiveness The Korea Institute of Startup & Entrepreneurship Development announced on July 31 that it held a meeting for the K-Beauty Smart Manufacturing Alliance on July 30 at Space Share Seoul Station 3 Center.The meeting aimed to establish a public-private partnership and gather industry needs and policy opinions for the AI transformation of manufacturing sites.During the meeting, participants discussed the purpose and operational direction of the K-Beauty Smart Manufacturing Alliance, support policies July 31, 2026

Hyundai Engineering Unveils New Value System, Aims to Connect Space and Energy Hyundai Engineering has officially announced a new value system that encapsulates the company's purpose and future growth direction, accelerating innovation across its business portfolio. On July 30, Hyundai Engineering held a ceremony at its headquarters in Gye-dong, Jongno-gu, Seoul, to unveil the new value system, which was announced on July 31. Declaring this year as the "Year of New Beginnings," Hyundai Engineering is focusing on developing future energy businesses and advanced industrial c July 31, 2026

Hyundai Engineering Unveils New Value System, Aims to Connect Space and Energy Hyundai Engineering has officially announced a new value system that encapsulates the company's purpose and future growth direction, accelerating innovation across its business portfolio. On July 30, Hyundai Engineering held a ceremony at its headquarters in Gye-dong, Jongno-gu, Seoul, to unveil the new value system, which was announced on July 31. Declaring this year as the "Year of New Beginnings," Hyundai Engineering is focusing on developing future energy businesses and advanced industrial c July 31, 2026

Preparations Underway for World Youth Day in Seoul with Shilla Stay Partnership The 2027 World Youth Day (WYD) in Seoul is ramping up preparations to welcome hundreds of thousands of pilgrims from around the globe. The organizing committee is establishing a partnership with a leading domestic hotel brand to ensure a solid foundation for the international event, particularly in the crucial area of accommodation.On July 30, the organizing committee, chaired by Archbishop Jeong Soon-taek, announced that it signed a memorandum of understanding (MOU) with Shilla Stay, a premium July 31, 2026

IBK Bank to Invest 30 Trillion Won in Inclusive Finance by 2030 IBK Bank plans to invest over 30 trillion won by 2030 to support financially excluded groups and vulnerable borrowers, while also backing the growth of small and regional innovative businesses. This initiative aims to strengthen the role of the national policy bank through inclusive and productive finance.During the bank's 65th anniversary ceremony held on July 31 at its headquarters in Jung-gu, Seoul, CEO Jang Min-young announced this long-term management vision.Jang stated, “As the prolo July 31, 2026

Daekyo Newf and Foodpang Partner to Advance Senior Care Food Business Daekyo Newf announced on July 31 that it has signed a business agreement with food tech platform Foodpang to actively pursue its senior care food business.The signing ceremony, held on July 30 at Daekyo Tower in Gwanak-gu, Seoul, was attended by Daekyo Newf CEO Kim Kyung-ho and Foodpang CEO Gong Kyung-yul, along with officials from both organizations. Through this agreement, the two companies aim to enhance their competitiveness in the senior food sector by combining Daekyo Newf's operational ca July 31, 2026

IBK Bank Launches 'Good Rate Inclusive Loan' for Low-Credit Borrowers at 4.9% Interest IBK Bank has introduced a personal credit loan product worth 1 trillion won aimed at reducing the interest burden for low and medium credit borrowers. The bank plans to lower both financial costs and monthly repayment burdens by implementing a single interest rate and long-term installment repayment method.On July 31, IBK Bank announced the launch of the 'IBK Good Rate Inclusive Loan' for borrowers in the bottom 50% of personal credit scores (CB).This product is designed to improve funding condi July 31, 2026

NH Nonghyup Financial to Launch Local Finance Project in Second Half of 2026 NH Nonghyup Financial Group held its third meeting of the 'Productive and Inclusive Finance Special Committee' on July 30, reviewing plans to expand local-focused productive and inclusive finance in the second half of 2026.About 50 executives and department heads from all subsidiaries of Nonghyup Financial attended the meeting, chaired by Chairman Lee Chan-woo. The committee selected the 'Local Finance Project' as the fourth initiative under NH Productive Finance and resolved to expedite its imp July 31, 2026

Average Daily Foreign Exchange Trading Reaches Record $121.4 Billion in Q2 In the second quarter of this year, increased exchange rate volatility led to a record average daily foreign exchange trading volume.According to the Bank of Korea's report on foreign exchange trading trends for the second quarter, the average daily trading volume (spot and foreign exchange derivatives) reached $121.44 billion, an increase of $18.79 billion (18.3%) from the previous quarter. This marks the highest level since statistics began being compiled in 2008.The Bank of Korea attributed t July 31, 2026

North Korea's Economy Grows 3.5% in 2025, Boosted by North-Russia Cooperation North Korea's economy grew by 3.5% last year, marking three consecutive years of growth above 3%. The expansion was driven by increased economic cooperation with Russia.According to a report released by the Bank of Korea on July 31, the country's real gross domestic product (GDP) reached 38.264 trillion won, a 3.5% increase from the previous year.North Korea's economy had experienced three consecutive years of negative growth from 2020 before returning to an upward trend in 2023, with growth rat July 31, 2026