Ministry of SMEs and Startups Holds Work Report Amid Leadership Vacancy Following the appointment of former Minister Han Seong-sook as Prime Minister, the Ministry of SMEs and Startups has been without a leader for over a month and will begin its work report early this month.According to political sources on August 1, the appointment of a new minister is expected to be clarified shortly after the Democratic Party's convention on the 17th. The prolonged vacancy in the ministerial position, coupled with the timing of the convention, has made it inevitable that appoint August 1, 2026

Real Estate Trends: Prices Rise in Seongbuk District The real estate market in Seoul is witnessing a shift in price momentum from the Gangnam area to non-Gangnam districts, with Seongbuk District showing notable strength. This year, the cumulative increase in apartment prices in Seongbuk has surpassed 10%, making it the only district among Seoul's 25 to achieve a double-digit rise. Recently, both sales and rental prices have recorded the highest increases in the city.According to the Korea Real Estate Agency, as of the fourth week of July, apartme August 1, 2026

July Exports Reach Record $98.9 Billion, Driven by 179% Surge in Semiconductors South Korea's exports in July reached a record $98.89 billion, marking the highest monthly total in 14 years.According to the Ministry of Trade, Industry and Energy, July exports increased by 62.8% compared to the same month last year, while imports rose by 26.5% to $68.56 billion, resulting in a trade surplus of $30.32 billion.Notably, semiconductor exports surged by 179%, and exports of other items increased by 26%. The average daily export, adjusted for working days, rose by 69.6% to $4.12 bi August 1, 2026

Samsung Life to Eliminate IRP Fees, Impacting Retirement Savings Samsung Life will eliminate all fees for Individual Retirement Pension (IRP) accounts starting August 1. The competition for 'zero IRP fees,' which began among securities firms, is now spreading to the insurance sector. In IRPs, which are managed over 10 to 20 years until retirement, even small annual fees of 0.1% to 0.3% can add up significantly. However, consumers should consider not just the 'free' label but also the investment products and services offered.According to the financial sector o August 1, 2026

Seoul Night Views Extended: 'Seoul Moon' Late Night Operations from August to October The Seoul City government and the Seoul Tourism Foundation are expanding late-night operations of the popular gas balloon attraction, 'Seoul Moon,' to boost nighttime economic activity and increase tourist stay duration.Starting in August and continuing through October, the operating hours for 'Seoul Moon' on Fridays and Saturdays will be extended from the previous closing time of 10 PM to 11 PM. From Monday to Thursday and on Sundays, the hours will remain the same, allowing boarding from noon August 1, 2026

U.S. Eases Regulations on Biosimilars, Boosting Prospects for Domestic Firms The United States is accelerating reforms to expand competition in the biosimilars market. Following the Senate's passage of a bill aimed at lowering patent barriers and streamlining interchangeability recognition procedures, domestic companies like Celltrion and Samsung Bioepis are increasingly optimistic about the potential benefits.According to the Korea Bio Association's Bioeconomy Research Center, the U.S. Senate passed the "Affordable Prescriptions for Patients Act" on July 21, which limit August 1, 2026

Around 50,000 Migrants Return to Morocco as Ceuta Border Crisis Eases A border crisis erupted as approximately 50,000 to 60,000 migrants surged into Ceuta, a Spanish autonomous city in North Africa, but the situation has significantly calmed within a day.According to Yonhap News Agency, Spain's Ministry of the Interior reported that on the second day of the crisis, at least 48,300 of the unauthorized entrants voluntarily returned to Morocco.The Spanish government estimated the number of unauthorized entrants at around 50,000, while local authorities in Ceuta sugge August 1, 2026

President Lee: Argentine Koreans Maintain Hope Despite Challenges 이재명 대통령은 31일(현지시간) 아르헨티나 동포들을 만나 "농업이민자들의 삶은 결코 순탄하지 않았지만 농장을 떠나면서도 희망까지 내려놓지는 않았다"며 이민 1세대의 개척 정신을 높이 평가했다.아르헨티나를 공식 방문 중인 이 대통령은 이날 오후 부에노스아이레스 시내 한 호텔에서 열린 동포 만찬 간담회에서 "어떤 어려움 속에서도 삶의 터전을 지키고 아르헨티나 사회의 모범적인 구성원으로 뿌리내린 동포 여러분의 위대한 여정에 아낌없는 박수를 보낸다"고 말했다.이 대통령은 "남미 대륙 가장 August 1, 2026

Hyundai Steel Reaches Tentative Labor Agreement with 300% Bonus Hyundai Steel and its labor union have reached a tentative agreement in this year's wage and collective bargaining negotiations, which includes an 80,000 won increase in base salary and a 300% performance bonus. This marks the first tentative agreement reached among major affiliates of the Hyundai Motor Group this year.According to industry sources on July 31, Hyundai Steel and its labor union held negotiations that resulted in the tentative agreement.The agreement includes an 80,000 won monthly August 1, 2026

President Lee Thanks Argentine Officials for Support of Korean Community President Lee Jae-myung met with Buenos Aires Mayor Jorge Macri on August 31, expressing gratitude for the city’s support of the local Korean community. Macri noted the successful integration of Koreans in the area, stating, "It is remarkable that Korea's soft power is strengthening."During his official visit to Argentina, President Lee met with Mayor Macri at a hotel in Buenos Aires.Attendees from the Argentine side included Fulvio Pompeo, Chief of Staff and Undersecretary for International Rel August 1, 2026