Elon Musk Plans Major Donations to Republican Candidates in Upcoming Midterms Elon Musk, CEO of Tesla and a major donor to Donald Trump during the 2024 U.S. presidential election, is reportedly planning to make significant contributions to Republican candidates in the upcoming midterm elections this November.According to a report by The New York Times on July 30, citing two sources, Musk has approved a spending plan of $100 million to $120 million for his political action committee, America PAC, in preparation for the midterms.One source indicated that the program is set July 31, 2026

Jung Jeom-sik Criticizes Opposition Party's Push to Abolish Prosecutorial Investigative Powers Jung Jeom-sik, the floor leader of the People Power Party, criticized the ruling Democratic Party on July 31 for introducing a bill to abolish prosecutorial investigative powers during a National Assembly session. He questioned whether the Democratic Party's call for a 'working National Assembly' was merely a cover to facilitate the dismissal of President Lee Jae-myung's trial.During a meeting of the party's floor leadership, Jung accused the ruling party of creating loopholes in the judicial sy July 31, 2026

KOSPI Surges Over 15% Amid U.S. Tech Stock Rally, Circuit Breakers Activated KOSPI has surged over 15% in early trading, buoyed by a significant rise in U.S. big tech and semiconductor stocks. Following a steep decline in the domestic market over the past three days, a wave of bargain hunting has triggered circuit breakers in both the KOSPI and KOSDAQ markets.As of 9:35 a.m. on July 31, the KOSPI index rose 841.40 points (15.04%) to reach 6,434.96. The index opened 64.23 points (1.15%) higher at 5,657.79 and quickly expanded its gains, recovering above the 6,400 mark.In July 31, 2026

Parents Criticized for Scolding Child Over Expensive Burger Purchase Parents are facing backlash after scolding their middle school child for spending nearly 30,000 won on a burger set. The incident has sparked criticism among office workers and online users.On July 30, a post titled "My middle school child bought nearly 30,000 won worth of hamburgers at a fast-food restaurant" appeared on the anonymous office worker community Blind.The author, identified as A, who works at Koh Young Technology, wrote, "I asked if they bought food for friends, but they said no. T July 31, 2026

Semiconductor Stocks Surge, Inverse ETFs Plummet; SK Hynix Drops 50% SK Hynix's stock surge has led to a significant drop in inverse exchange-traded funds (ETFs) and exchange-traded notes (ETNs) that bet against the market. As of 9:32 a.m. on July 31, the SOL SK Hynix Futures Single Stock Inverse 2X ETF was trading at 9,325 won, down 51.47% from the previous trading day. This marked a nearly 10,000 won drop in just one day, the largest decline among inverse products. Other products betting on a decline in semiconductor stocks also saw significant losses. The Kiwo July 31, 2026

China's Coal Power Share Falls Below 50% for First Time Amid Renewable Energy Growth For the first time, coal power's share of China's total electricity generation has fallen below 50%.According to the National Energy Administration, coal power generation reached 2.5 trillion kWh in the first half of this year, accounting for 49.7% of total electricity generation, as reported by state broadcaster CCTV on July 31. This marks the first time that coal's share has dipped below 50%. The National Energy Administration stated, "This is a result of China's long-term policy to expand ren July 31, 2026

UBS Initiates Coverage of SK Hynix ADR with 'Buy' Rating and $204 Target Price Global investment bank UBS has issued its first analysis report on SK Hynix's American Depositary Receipts (ADR), recommending a 'Buy' rating and setting a target price of $204. The firm believes that the current stock price does not adequately reflect the growth potential driven by the expansion of artificial intelligence (AI).According to Investing.com on July 30, UBS analyst Nicolas Godoy forecasts a 36% increase in DRAM demand for next year, significantly higher than this year's expected gro July 31, 2026

Weaker Dollar and Foreign Buying Push Exchange Rate Down to 1420 Won The won-dollar exchange rate has fallen to the 1420 won range as investor preference for risk assets has recovered.As of 9:21 a.m. in the Seoul foreign exchange market, the exchange rate for the Korean won against the U.S. dollar stood at 1428.7 won. Earlier, at 6 a.m., the rate was trading at 1418.0 won, down 19.40 won from the previous session.This decline is attributed to a recovery in risk appetite among investors. The dollar index, which measures the value of the dollar against six major cu July 31, 2026

SK Hynix Shares Surge, Boosting Leverage ETFs by Nearly 50% SK Hynix's soaring stock price has led to a significant rise in related leveraged exchange-traded funds (ETFs) and exchange-traded notes (ETNs).According to the Korea Exchange, as of 9:29 a.m. on July 31, the SOL SK Hynix Single Stock Leverage ETF was trading at 8,565 won, up 47.93% from the previous trading day. The KODEX SK Hynix Single Stock Leverage and TIGER SK Hynix Single Stock Leverage also surged by 47.32% and 46.87%, respectively.Additionally, other SK Hynix-related leveraged products, July 31, 2026

Major Retailers Challenge Daiso with Low-Cost Household Goods Stores Major retailers that previously rented space to Daiso are now entering the low-cost household goods market directly. As inflation persists, Daiso has gained popularity among younger consumers for its affordable products, prompting a shift in the retail landscape. Retailers are responding by launching their own uniform-price stores that offer a range of household items, fashion, and beauty products to attract younger shoppers and increase customer dwell time.According to the retail industry, Emar July 31, 2026