Lotte Shopping Shares Plummet After Shin Dong-bin Announces Stake Sale Shares of Lotte Shopping are plummeting following news that Shin Dong-bin, chairman of Lotte Group, plans to sell part of his stake to secure cash liquidity. The significant stake sale has raised concerns about potential oversupply, dampening investor sentiment.As of 10:05 a.m. on July 23, Lotte Shopping shares were trading at 124,100 won, down 10,300 won (7.66%) from the previous trading day. At one point, the stock fell by as much as 12.12%, reaching 118,100 won.According to the Financial Supe July 23, 2026

Transforming Ports into Intelligent Robots: The Dawn of Physical AI Innovation The South Korean government is set to enhance its ports with artificial intelligence (AI) technology, aiming for a transformation into smart ports. The initiative envisions creating ports that function as a single intelligent robot by securing a foundation in Physical AI technology and revitalizing the related industrial ecosystem.On July 23, the Ministry of Oceans and Fisheries unveiled its 'Physical AI Port Strategy' during the 11th Science and Technology Ministers' Meeting. The ministry prese July 23, 2026

SK Hynix's Success Story Faces New Challenges Ahead A domestic semiconductor company that was once on the brink of bankruptcy has emerged as a major beneficiary of the artificial intelligence (AI) revolution. SK Hynix, which had long been in Samsung Electronics' shadow as the 'perennial second place,' has solidified its position as the world's leading supplier of high-bandwidth memory (HBM), a key component in AI semiconductors, transforming the global semiconductor landscape.According to a recent report by The Economist, SK Hynix now faces its t July 23, 2026

Korea Development Bank and Fisheries Cooperative Launch Offshore Wind Power Financial Model The Korea Development Bank and the Fisheries Cooperative are working to establish a participatory financial model that returns profits from offshore wind power development to fishermen and local communities.On July 22, the Korea Development Bank announced that it signed a memorandum of understanding with the Fisheries Cooperative and the Fisheries Bank in Seoul to provide financial support for domestic offshore wind power projects and promote community coexistence.Under this agreement, the three July 23, 2026

Jang Dong-hyuk Calls on President Lee to Clarify Ties with Apartment Buyer Amid Controversy Jang Dong-hyuk, leader of the People Power Party, urged President Lee Jae-myung on July 23 to clarify his relationship with the buyer involved in a controversial 1.7 billion won mortgage linked to the sale of an apartment in Bundang. During a Supreme Council meeting at the National Assembly, Jang stated, "The public is outraged by President Lee's 'Deobul Mortgage' transaction." He added, "Neither the president, the Blue House, nor the Democratic Party seems to understand why the public is angry. July 23, 2026

U.S. to Announce 12.5% Tariff on South Korea Over Forced Labor Concerns The Trump administration is set to announce final trade measures against 60 trading partners, including South Korea, for failing to adequately block imports of products made with forced labor. A 12.5% additional tariff has been proposed for South Korea, drawing significant attention ahead of the final decision.According to documents released by the U.S. Senate Finance Committee, U.S. Trade Representative (USTR) Jamieson Greer stated in written testimony submitted on July 22 that "USTR will annou July 23, 2026

Jensen Huang Refutes U.S. Concerns Over Chinese AI Competition Jensen Huang, CEO of NVIDIA, has expressed opposition to U.S. efforts to restrict Chinese open-source artificial intelligence (AI) models.In an interview on July 21 in Fort Worth, Texas, Huang described Chinese AI models as "very impressive" and stated that "high-performing open-source models should be utilized." When asked whether U.S. companies should be allowed to use Chinese AI models, he replied, "Of course, they should be allowed." This stance contrasts with concerns from the U.S. governme July 23, 2026

Major Banks Raise Deposit Rates to 3% Following Central Bank Hike In response to the Bank of Korea's interest rate hike, the five major banks in South Korea—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—have all raised their deposit rates.According to the financial sector on July 23, Hana Bank has increased the interest rate on its flagship one-year time deposit product, 'Hana Time Deposit,' from 2.90% to 3.20%, a rise of 0.30 percentage points.NH Nonghyup Bank also raised the rate on its main product, 'NH All-in-One e-Deposit' (one-year maturity), from 2. July 23, 2026

LG Electronics Expands Antimicrobial Material Production to Meet Global B2B Demand LG Electronics is expanding its business-to-business (B2B) functional materials sector by establishing production lines for antimicrobial and coating materials in Vietnam. The company aims to respond to changes in orders and delivery schedules from global clients by diversifying its production bases between Changwon, South Korea, and Haiphong, Vietnam.Recently, LG Electronics announced the start of production for its glass powder-based functional materials, 'LG PuroTec' and 'Easy-Clean enamel,' July 23, 2026

South Korea's Economy Grows 0.6% in Q2, Surpassing Expectations South Korea's economy showed stronger-than-expected growth in the second quarter of this year. Semiconductor exports offset the negative impacts of rising oil prices due to the ongoing conflict in the Middle East. As a result, expectations for an annual growth rate in the 3% range have increased.According to the Bank of Korea on July 23, the preliminary real GDP growth rate for the second quarter increased by 0.6% compared to the previous quarter, significantly exceeding the forecast of 0.2% mad July 23, 2026