Large $1.7 billion international money transfer completed in one hour via China's payment network A large international money transfer worth 1.7 billion dollars was completed in just one hour through China's payment network. According to the South China Morning Post on July 24, the Bank of China processed a remittance of 1.7 billion dollars (approximately 2.5 trillion won) through its Shenzhen branch using mBridge, the international payment platform of the People's Bank of China. This month, a larger amount was reported to have been transferred to the Bank of China's Fujian branch from overs July 24, 2026

U.S. and Iran Diplomats Exchange Heated Words Over Retaliation The top diplomats of the United States and Iran engaged in a public exchange over the level of retaliation each country would pursue. Iran's assertion of a 'eye for an eye' principle was met with a stronger U.S. response, described as 'eye for a head.'On July 23, U.S. Secretary of State Marco Rubio spoke with reporters at a meeting of ASEAN foreign ministers in Manila, Philippines, stating, "I saw the Iranian foreign minister say that 'eye for an eye' is their policy. President Trump's policy is July 24, 2026

Solus Advanced Materials Reports 2nd Quarter Operating Loss of 21.3 Billion Won Solus Advanced Materials announced on July 24 that it recorded a consolidated operating loss of 21.3 billion won and sales of 101.9 billion won for the second quarter of 2026.Sales increased by about 31% compared to 77.8 billion won in the same period last year and rose approximately 16% from 88.1 billion won in the previous quarter. The operating loss slightly increased from 20.8 billion won year-on-year but decreased by 35.8% from 32.4 billion won in the previous quarter.While profitability is July 24, 2026

AI Innovations Transform Laundry Services at Rundigo Rundigo, a contactless laundry service operated by the startup Living and Clothing Company, is rapidly improving its operations by integrating artificial intelligence (AI) and automation technology across all processes. By replacing manual tasks with AI and robots, productivity has significantly increased, leading to improved financial performance.According to industry sources, Rundigo is actively incorporating AI into its services. When customers place their laundry in collection bags, the QR c July 24, 2026

Small Business Agency Launches S-GDP Initiative to Measure Economic Value The Small Business Market Promotion Agency announced on July 24 that it will actively pursue research to establish the 'Small Business Gross Domestic Product (S-GDP)', a measure of the production and added value generated by small businesses in the national economy, similar to GDP.On the same day, the agency launched the 'Expert Advisory Group for Establishing a System to Measure the Economic Value of Small Businesses' at Dream Square in Mapo District and began research based on the System of Na July 24, 2026

KOSPI and KOSDAQ Plunge Over 5%, Triggering Sell Sidecar The KOSPI index dropped more than 5%, falling below the 6,700 mark. Major semiconductor stocks, including Samsung Electronics and SK Hynix, showed significant weakness, leading to increased volatility in both the KOSPI and KOSDAQ markets, prompting the activation of sell sidecars.According to the Korea Exchange, as of 1:08 PM, the KOSPI was trading at 6,695.23, down 401.66 points (5.66%) from the previous trading day. The index opened at 7,000.78, down 96.11 points (1.35%), and continued to decl July 24, 2026

U.S. Imposes 12.5% Tariff on South Korean Goods Over Forced Labor The U.S. Trade Representative (USTR) has decided to impose a minimum tariff of 12.5% on South Korean products due to deficiencies in the country's forced labor import ban. The South Korean government noted that the U.S. reaffirmed the 15% tariff cap agreed upon in the Korea-U.S. tariff agreement, which alleviates some uncertainty regarding tariffs.According to the Ministry of Trade, Industry and Energy, the USTR announced the final results of its Section 301 investigation into the forced labor i July 24, 2026

Dongyang Life Insurance Moves Closer to Full Subsidiary Status Under Woori Financial Dongyang Life Insurance's plan to become a full subsidiary of Woori Financial Group has passed a shareholder meeting.On July 24, the company held an extraordinary general meeting where shareholders approved the comprehensive stock exchange agreement with Woori Financial Group by a majority vote.Previously, some minority shareholders expressed concerns over the stock exchange ratio and the method of determining the exchange price. In response, Dongyang Life held two shareholder meetings to explai July 24, 2026

SK Group to Delist SK Signet and Sell Shares Through Tender Offer SK Group has decided to delist its subsidiary SK Signet and will initiate a tender offer to buy back shares from minority shareholders. This move aims to protect the rights of small shareholders while accelerating portfolio rebalancing.On July 24, SK announced its decision to conduct a tender offer for common shares of SK Signet, which is listed on the KONEX. The tender offer price is set at 8,200 won per share, which is more than 20% higher than the weighted average price over the past month.Th July 24, 2026

U.S. Airstrikes on Iran Continue for 13th Day, 4 Dead On July 23, the United States conducted airstrikes against Iran for the 13th consecutive night. Attacks targeted military facilities around the Strait of Hormuz and extended into southwestern Iran, resulting in casualties.The U.S. Central Command announced that the strikes began at 6:45 p.m. Eastern Time and concluded around 9 p.m., lasting approximately 2 hours and 15 minutes.Targets included Iranian military command centers, drone storage facilities, communication networks, and coastal surveil July 24, 2026