Real Estate Forum Discusses Tax Reforms to Protect Homebuyers and Curb Speculation As discussions continue over reforms to property taxes, including ownership taxes and comprehensive real estate taxes, attention is turning to the new government's direction on tax policy. There is a general consensus on the need to protect genuine homebuyers while curbing speculative demand, but opinions vary on how much to strengthen ownership taxes and how to reform the comprehensive real estate tax system.On July 23, a national forum on real estate policy, chaired by President Lee Jae-myung, July 23, 2026

Korea-U.S. Shipbuilding Cooperation Center Opens in Washington The Korea-U.S. Shipbuilding Cooperation Center (KUSPC) has officially opened in Washington, D.C., serving as a local hub for Korea-U.S. shipbuilding collaboration. This center aims to support the revitalization of the U.S. shipbuilding industry based on Korea's technological expertise and production experience, while also facilitating a $150 billion investment in shipbuilding cooperation.The Ministry of Trade, Industry and Energy announced that the opening ceremony for KUSPC was held on the morn July 23, 2026

Navigating the Semiconductor Market Amid Bubble Concerns The 'semiconductor peak theory' resembles a zombie; it refuses to die down. Each time signals emerge indicating that it is not an AI bubble, the market breathes a sigh of relief. However, it is not long before concerns about a bubble resurface, causing fluctuations in the market and stock prices. This year, the KOSPI has been significantly affected by the semiconductor peak theory. For investors, this is a critical point of concern. Indicators to assess the validity of the semiconductor peak the July 23, 2026

Lee Calls for Property Tax Reform Despite Political Risks Lee Calls for Property Tax Reform Despite Political RisksPresident Lee Jae-myung emphasized the need for reforming property taxes, stating that the current situation of rising real estate prices and low tax burdens is a "problem that will eventually explode." Speaking at a national forum on real estate policy in Yeouido, Seoul, on July 23, he noted that to normalize property taxes to levels typical of advanced countries, they would need to be increased at least threefold. However, he cautioned t July 23, 2026

Court Dismisses Request to Ban Screening of 'The King and the Clown' Over Plagiarism Claims The Seoul Western District Court dismissed a request to ban the screening of the film 'The King and the Clown,' which was accused of plagiarizing the script of the drama 'Eom Heung-do.'On July 23, the court's 21st Civil Division, led by Judge Shin Myung-hee, rejected the injunction filed by the heirs of the drama's scriptwriter against the film's co-producers, Onda Works and BA Entertainment, as well as the distributor, Showbox.The production companies are allowed to screen the film on aircraft July 23, 2026

Democratic Party Candidates Kim Min-seok, Song Young-gil, and Jeong Cheong-rae Advance to Final Round The Democratic Party's preliminary elections concluded without surprises, confirming Kim Min-seok, Song Young-gil, and Jeong Cheong-rae as candidates for the party leadership. Additionally, the number of candidates for the supreme council was narrowed from 14 to 8.Election Management Committee Chair So Byeong-hoon announced the results of the preliminary elections for the party leader and supreme council candidates on July 23 at the National Assembly. The party leader candidates were determined July 23, 2026

South Korea's Foreign Minister Calls for Continued Dialogue with North Korea Cho Hyun, South Korea's Foreign Minister, stated on July 23 that the country will continue its efforts to resume dialogue with North Korea with patience to achieve peace and coexistence on the Korean Peninsula. During the 16th East Asia Summit (EAS) Foreign Ministers' Meeting held in Manila, Philippines, Cho urged member countries to maintain their interest and cooperation in resolving issues related to the Korean Peninsula through dialogue and diplomacy. The EAS, established in 2005, is a st July 23, 2026

Director Na Hong-jin Wins Action Cinema Award at New York Asian Film Festival Na Hong-jin has won the Action Cinema Award at the New York Asian Film Festival for his film "Hope." On July 23, the film's distributor Plus M Entertainment and Yonhap News reported that Na received the "Daniel A. Craft Outstanding Action Cinema Award" on July 20 at the 25th New York Asian Film Festival. Na expressed his gratitude, stating, "Thank you sincerely for the congratulations. I feel very good to receive such a significant and meaningful award." The New York Asian Film Festival, whi July 23, 2026

Police Seek Arrest Warrants for Protesters Who Assaulted Reporter Police are pursuing the arrest of two protesters who assaulted a reporter covering the counting situation related to the shortage of ballots in the June 3 local elections.On July 23, the Songpa Police Station in Seoul announced that they have applied for arrest warrants for a woman in her 30s and a man in his 20s, who allegedly assaulted the reporter in front of the Olympic Park handball stadium, which served as a counting center, on June 5.Previously, the JTBC branch of the Korean Journalist As July 23, 2026

Rubio: Iran Paying a Heavy Price for Violating Agreements U.S. Secretary of State Marco Rubio stated that Iran is paying a significant price for continuously violating agreements and is currently in a position where it desires a deal. On July 23, Rubio made these remarks in Manila, Philippines, during the ASEAN Foreign Ministers' Meeting. He noted, "Iran almost immediately breaks agreements or decides to change the terms after reaching them. This is not how agreements work." He added, "Right now, they are paying the price," and speculated that they July 23, 2026