Pacific Law Firm Strengthens Expertise in Major Disaster Response with New Hires Pacific Law Firm announced on July 24 that it has recently strengthened its Major Disaster Response Headquarters by hiring attorney Lee Hee-dong, along with labor consultants Son Jun-hae and Ma Dong-jun. The firm stated, "Since the implementation of the Serious Accident Punishment Act, it has become increasingly important to establish a comprehensive response system that covers all processes from accident prevention to on-site response, investigations by the Ministry of Employment and Labor, July 24, 2026

Revised Property Tax Law Increases Tax Burden on Multiple Homeowners A recent study has found that the government's revision of the comprehensive real estate tax has led to a concentration of wealth among multiple homeowners in high-value properties in the metropolitan area.According to a report by the National Institute of Public Finance titled 'Analysis of Effective Tax Rate Disparities by Number of Homes and Changes in Housing Ownership Structure,' the effective tax rate gap between multiple homeowners and single homeowners has widened to 0.71 percentage point July 24, 2026

Woori Financial Reports Second Quarter Net Profit of 1.06 Trillion Won Woori Financial Group announced that it achieved a net profit exceeding 1 trillion won in the second quarter of this year.On July 24, Woori Financial reported a net profit of 1.046 trillion won for the second quarter, a 7.4% increase compared to the same period last year.This marks the second-largest quarterly profit in the company's history, following last year's third quarter profit of 1.244 trillion won. It is also the largest profit recorded for the second quarter.Compared to the first quart July 24, 2026

Government to Issue 6.7 Trillion Won in Public Bonds in Q3 The issuance of major public bonds in the third quarter is expected to reach 6.7 trillion won, an increase of 4 trillion won from previous plans.On July 24, the Ministry of Finance held its third meeting of the 'Bond Issuance Agency Council' chaired by Hwang Soon-kwan, head of the National Treasury. Representatives from the Financial Services Commission, the Financial Supervisory Service, and key government-backed bond issuing agencies attended the meeting to review second-quarter performance an July 24, 2026

Government to Provide $6.5 Million in Emergency Support for Homeplus Workers The government will support workers affected by wage arrears at Homeplus with advance payments for unpaid wages and living expense loans, while also offering management consultation for partner companies.Kang Gi-ryong, Deputy Minister of Finance, held a meeting on July 24 at the Government Seoul Complex with a dedicated task force to assess the situation of Homeplus employees and partner companies.According to the review, from July 3 to 23, following the court's termination of the rehabilitation July 24, 2026

Ruling Party Approves Bill to Abolish Prosecutors' Supplementary Investigation Rights The Democratic Party approved a bill on July 24 to completely abolish prosecutors' supplementary investigation rights. The decision was made without any objections during a party meeting. The bill also includes provisions to expand protection measures for victims and enhance mutual checks among investigative agencies.Lee Joo-hee, the party's floor spokesperson, announced the decision during a policy meeting at the National Assembly. She stated, "The party agreed to reach a conclusion quickly, an July 24, 2026

Kia Confident in Annual Profit Target Amid Hybrid Expansion and EV Incentive Strategy Kia has expressed confidence in maintaining its annual performance targets despite external uncertainties such as U.S. auto tariffs and rising raw material costs. The company plans to enhance profitability through increased hybrid vehicle sales while opting not to expand electric vehicle (EV) incentives in Europe.Kim Seung-jun, Executive Vice President of Kia's Finance Division, stated during a conference call on July 24 following the second quarter earnings report, "We believe we can achieve ou July 24, 2026

SK Telecom Shares Rise Following Property Division Ruling for Chairman Chey Tae-won SK Telecom shares experienced a boost on July 24 after a court ruling ordered Chairman Chey Tae-won to pay 944 billion won in property division as part of his divorce proceedings.On that day, SK Telecom closed at 101,300 won, up 1,800 won (1.81%) from the previous session. Following the ruling around 2 p.m., the stock surged as much as 5.33%, reaching 104,800 won.The Seoul High Court's Family Division, led by Judge Lee Sang-joo, ruled that Chey must pay his ex-wife, No So-young, the substantial July 24, 2026

Geopolitical Tensions Renew in Red Sea and Hormuz; Korea National Oil Corporation Reviews Oil Supply Response As geopolitical risks in the Middle East escalate, the Korea National Oil Corporation (KNOC) has initiated a review of its oil supply crisis response system. This comes amid ongoing uncertainties in key oil transport routes, including the Strait of Hormuz and the Red Sea, necessitating confirmation that emergency response measures can operate without disruption.On July 24, KNOC held a "Field Inspection Meeting for Proactive Oil Supply Response" at its oil storage facility in Seosan, South Chungc July 24, 2026

Samsung Bioepis Reports Second Quarter Operating Profit of 86.6 Billion Won Samsung Bioepis reported a decline in both revenue and operating profit for the second quarter of this year compared to the same period last year. However, the company continues to show growth in its first-half results.Samsung Epise Holdings announced on July 24 that Samsung Bioepis recorded revenue of 392.2 billion won and an operating profit of 86.6 billion won in the second quarter. These figures represent decreases of 2.2% and 3.6%, respectively, from the previous year, attributed to changes July 24, 2026