Korea's Fair Trade Commission Initiates Sanctions Against Seven Biofuel Companies for Bid Rigging The Fair Trade Commission (FTC) has begun sanction procedures against seven manufacturers and sellers involved in bid rigging for biofuel supply over the past 11 years.On July 30, the FTC announced that it submitted a report on the bid rigging activities of the seven biofuel companies to the commission and sent it to the defendants. The report, akin to an indictment, triggers the review process once it is delivered to the defendants.The companies involved are △DS Danseok △Aekyung Chemical △SK Ec July 30, 2026

Han Byeong-do Proposes Coalition of Five Progressive Parties for Political Reform Han Byeong-do, acting leader of the Democratic Party and floor leader, met with Kim Jong-hoon, leader of the Progressive Party, on July 30 and pledged to establish a coalition of five progressive parties: the Democratic Party, Justice Innovation Party, Progressive Party, Basic Income Party, and Social Democratic Party. Following a meeting with Shin Jang-sik, leader of the Justice Innovation Party, on July 28, Han's remarks to Kim suggest that this coalition could signal a revival of discussions July 30, 2026

Samsung Electro-Mechanics Reports Earnings Surprise Driven by MLCC Demand Samsung Electro-Mechanics reported an earnings surprise for the second quarter, driven by a surge in demand for artificial intelligence (AI) servers and automotive components. The company secured long-term supply contracts for multilayer ceramic capacitors (MLCC) with over ten major clients, establishing a foundation for mid- to long-term growth.On July 30, Samsung Electro-Mechanics announced that its consolidated revenue for the second quarter reached 3.4572 trillion won, with an operating prof July 30, 2026

New Developments in Allegations Against Actor Hwang Jung-min Recently, B, the individual who sparked controversy by revealing inappropriate relations and personal details about actor Hwang Jung-min on social media, has rebutted claims of stalking made by Hwang's side, stating it was a legitimate request for clarification.On July 30, B posted an official statement on their social media, disclosing that they are currently pursuing a civil lawsuit against Hwang Jung-min. B claims that this incident represents emotional, sexual, and labor exploitation within July 30, 2026

Gwangju Bank Partners with Chonnam National University to Foster AI Talent Gwangju Bank and Chonnam National University are collaborating to cultivate artificial intelligence talent. On July 30, the two institutions signed a memorandum of understanding (MOU) at Chonnam National University to promote local AI talent development and support the university's designation as a national flagship institution. As part of the agreement, they will implement four key programs, including internships for students, the establishment of a joint AI research center, customized training July 30, 2026

Samsung Signs Long-Term Supply Contracts with Big Tech Amid Memory Shortage Samsung Electronics has entered into long-term supply contracts of up to five years with major global tech companies, aiming to establish a stable revenue structure. As the demand for semiconductor supply is expected to continue until 2028 due to the expansion of artificial intelligence (AI) infrastructure, Samsung has achieved record sales in both DRAM and NAND flash products.During a conference call on its second-quarter earnings held on July 30, Samsung reported that its semiconductor (DS) di July 30, 2026

Ulsan City Government Advertising Spending Reaches 17.4 Billion Won Ulsan City has conducted a comprehensive analysis of 1,963 government advertising expenditures from January 2024 to May 2026, totaling 17.4 billion won. This amounts to an average monthly expenditure of around 600 million won of taxpayer money for promoting city policies through various media outlets.Government advertising is an administrative process where public institutions select media to convey public interest information to citizens. Therefore, the selection of media and budget allocation July 30, 2026

Construction Firm fined $1 million for Violating Subcontracting Laws A construction company has faced sanctions from regulatory authorities for failing to pay subcontractors and not issuing contracts for additional work.On July 30, the Fair Trade Commission announced it would impose a fine of 1.03 billion won (approximately $1 million) on Geunryong Construction for violating subcontracting laws. Geunryong Construction primarily builds medical and religious facilities.According to the commission's investigation, Geunryong Construction did not pay 100 million won t July 30, 2026

Financial Commission Introduces IPO Cornerstone Investor and Pre-demand Forecasting Regulations The Financial Services Commission has begun revising regulations to introduce pre-demand forecasting and cornerstone investor systems in the initial public offering (IPO) market. The aim is to enhance the rationality of pricing and mitigate significant stock price drops following large-scale sell-offs immediately after listing.On July 30, the Financial Services Commission announced that the proposed amendments to the Capital Markets Act, which will implement the pre-demand forecasting and corner July 30, 2026

Eight Schools in Seoul Transition to Coeducation Amid Alumni Opposition As the number of school-age children continues to decline, the transition of single-gender schools in Seoul to coeducation is accelerating. Eight middle and high schools, including Muhak High School and Seongsim Middle and High School, have been confirmed to transition to coeducation in 2027 and 2028. However, strong opposition from alumni of these long-established institutions suggests a challenging road ahead for the transition.On July 30, the Seoul Metropolitan Office of Education announced t July 30, 2026