Samsung Electronics Reports 43.6 Trillion Won in 2025 Operating Profit, Up 33% * This article has been translated by AI. 2026-01-29 07:42:01

Samsung Electronics reports 4Q revenue of 93.84 trillion won, up 23.8% * This article has been translated by AI. 2026-01-29 07:42:00

Samsung Electronics Reports 20 Trillion Won in Q4 Operating Profit, Up 209% * This article has been translated by AI. 2026-01-29 07:39:16

Fire at Recycling Company in Incheon Extinguished; No Injuries Reported A fire at a recycling company in Gajwa-dong, Seo-gu, Incheon, was extinguished in about an hour after breaking out at about 5:56 a.m. on the 9th. No injuries were reported. Fire authorities deployed about 30 pieces of equipment and about 80 personnel and finished putting out the blaze at about 7 a.m. Authorities are investigating the cause and the extent of the damage.* This article has been translated by AI. 2026-01-29 07:39:00

Fed holds key rate at 3.50%-3.75%, says inflation remains elevated The Federal Reserve on Tuesday held its benchmark interest rate at 3.50% to 3.75%. The decision followed the central bank’s first scheduled Federal Open Market Committee meeting of the year, which ran for two days. The Fed had cut rates three straight times — in September, October and December — by 0.25 percentage point each, but paused that easing streak. The move was widely seen as a bid to slow the pace of policy changes as concerns persist that President Donald Trump’s sweeping tariff plans could reignite inflation. In its statement, the Fed said recent indicators suggest economic activity has been expanding at a solid pace. It added that job gains remain low, the unemployment rate shows signs of stabilizing, and inflation “remains somewhat elevated.” Reiterating its goals of maximum employment and 2% inflation, the Fed said uncertainty about the economic outlook remains high and it is watching risks to both sides of its mandate. At a news conference after the decision, Chair Jerome Powell said newly released data and sentiment reflected in the Fed’s Beige Book suggest growth is starting the year on a solid footing. He said the U.S. growth outlook has “clearly improved” since the FOMC meeting in December. On the timing and pace of further rate cuts, Powell reaffirmed the stance he laid out when the Fed cut rates in December, saying the Fed is in a good position to respond to risks between its dual goals. Powell said there was broad support within the committee — including among nonvoting members — to hold rates. He added, “No one sees the next rate adjustment as a rate hike” as a baseline outlook, underscoring that the Fed is not considering an increase at this point. The decision was not unanimous. Of the 12 voting members, 10, including Powell, supported holding rates, while two — Gov. Stephen Miran and Gov. Christopher Waller — dissented in favor of a 0.25-point cut. Miran previously served as White House National Economic Council chair during the Trump administration, and Waller has been mentioned as one of four candidates Trump is considering for the next Fed chair. Their dissent was seen as aligned with Trump’s push for rate cuts. Gov. Michelle Bowman, also cited as a potential Fed chair candidate, voted to hold rates. The decision kept the interest-rate gap between South Korea and the United States at 1.25 percentage points based on the upper end of the U.S. range. South Korea’s benchmark rate is 2.50%. The Bank of Korea on Jan. 15 held its rate at 2.50% for a fifth straight meeting. Asked about the economic impact of tariff policy, Powell said the U.S. economy has held up “quite well” given major changes in trade policy. He cited that tariff levels were softened from initial announcements, there were no foreign retaliatory steps, and much of the tariff increases have not yet been passed on to consumer prices. On the recent surge in gold prices above $5,000 an ounce, Powell said the Fed monitors markets but does not react to specific asset-price moves. “There may be claims that we’ve lost credibility, but that’s not true,” he said. He added that expected inflation shows the Fed’s credibility is “exactly where it should be,” rejecting claims that worries about damage to the Fed’s independence drove the rise in gold. Asked why he issued an unusual statement related to a grand jury subpoena involving him, Powell said, “Please refer to the statement released on the 11th. I won’t add to it or repeat it.” He also said he had nothing to say on whether he complied with the subpoena. Powell also declined to say whether he would continue serving out the remainder of his term as a Fed governor after his chair term ends in May, saying he had nothing to discuss on that matter. Trump, speaking the day before in Iowa during an economic address, said he would announce Powell’s successor “soon” and said that under a new chair, “you’ll see rates come down a lot.”* This article has been translated by AI. 2026-01-29 07:30:00

South Korea’s Digital Asset Framework Bill Stalls Over Stablecoin, Exchange Rules The government and the ruling party are struggling to draft a second-phase virtual asset bill, with delays in submitting a government proposal. The Democratic Party of Korea has moved to prepare its own version, but has yet to produce a draft as disagreements persist over licensing conditions for won-denominated stablecoin issuers and limits on ownership stakes in virtual asset exchanges. Draft framework takes shape as parties discuss creating a virtual asset council The Democratic Party of Korea’s digital asset task force held its second closed-door meeting Tuesday at the National Assembly Members’ Office Building in Seoul to work on the second-phase legislation. Members said they reached agreement on the law’s name and how to classify business categories, but remained divided on key issues. The bill’s stated purpose would be to promote the digital asset industry and protect investors. The working title was tentatively set as the “Digital Asset Framework Act.” The act would define eight categories of digital asset businesses. Of those, two to three categories seen as high-risk or requiring strong public trust would need authorization from financial regulators, while the rest could operate through registration. The draft would also create an interagency consultative body tentatively called the “Virtual Asset Council.” The Financial Services Commission chair would lead it, with members including a deputy governor of the Bank of Korea, a vice minister from the Ministry of Economy and Finance, and a vice minister from the Ministry of Science and ICT. The council would be expected to handle matters such as licensing won stablecoin issuance and responding to infrastructure problems. The Bank of Korea had sought a committee that would require unanimous votes to approve agenda items, but that approach was not accepted. After the meeting, task force chair Lee Jeong-moon told reporters, “Since the Financial Services Commission consults with the Bank of Korea in the policy decision process, most lawmakers agreed it would be better to proceed with a consensus-based approach rather than a unanimity rule.” Key disputes remain; agreement reached only on minimum capital No agreement was reached Tuesday on requirements for issuing won-denominated stablecoins, a central issue. The Bank of Korea argues issuance should be allowed only for consortia in which banks hold a majority stake, saying banks should lead the market to support financial stability. The Financial Services Commission and the ruling party counter that such a rule could block technology companies from entering the market, leaving the sides sharply split. However, they agreed to set the minimum paid-in capital for won stablecoin issuers at 5 billion won. The level appears to be based on regulatory standards for electronic money businesses. The task force said it will prepare compromise proposals on unresolved items and continue talks. Task force member Rep. Lee Kang-il said, “There are sharp differences between the National Assembly and the government over bank-majority consortia, and a mediation proposal has been delivered to both sides.” He added, “We will make decisions in a direction that helps the overall national interest and encourages public participation.” The task force is also expected to keep discussing whether to limit the ownership stake of major shareholders in virtual asset exchanges. The issue had appeared likely to be excluded to speed legislation, but the task force has shifted to a more cautious stance. Members broadly agree with the intent of limiting major shareholders’ stakes, but differ on whether to include it in the initial bill or pass the law first and revise it later. The task force said it will consult the party’s policy committee before deciding. The task force plans to spend about one to two weeks coordinating around mediation proposals, aiming to finalize and introduce the bill before the Lunar New Year holiday. Even if the ruling party reaches agreement with the government, the bill would still need discussions with the opposition People Power Party at the National Assembly’s Political Affairs Committee, suggesting the process could remain difficult for some time.* This article has been translated by AI. 2026-01-29 07:03:00

Fire Reported in Incheon’s Seo District; Heavy Smoke Reported Near Gajwa-dong A fire broke out in Incheon’s Seo District, officials said. In a disaster alert text message sent on the 29th, the district office said a fire near 173-222 in Gajwa-dong was producing heavy smoke as of 6 a.m. It urged nearby residents to move farther from the site and drivers to detour. * This article has been translated by AI. 2026-01-29 06:39:00

Fed Holds Key Rate at 3.50%-3.75%, Keeping U.S.-South Korea Gap at 1.25 Points On Jan. 28 local time, the Federal Reserve held its benchmark interest rate at 3.50% to 3.75%. The Fed said after its first regular Federal Open Market Committee meeting of the year that it decided to keep the rate unchanged. The decision keeps the interest-rate gap between South Korea (2.50%) and the United States at 1.25 percentage points, based on the upper end of the U.S. range.* This article has been translated by AI. 2026-01-29 06:12:00

South Korea to Fund 70 New Energy R&D Projects Worth 136.9 Billion Won The Ministry of Climate, Energy and Environment said it will post its “2026 Energy Technology Development Implementation Plan” and a first round of 70 new energy technology development projects totaling 136.9 billion won on the ministry website and the Korea Institute of Energy Technology Evaluation and Planning website on Wednesday. The ministry said it plans to support 201.4 billion won this year for new energy technology R&D projects to respond to the climate crisis and advance a sustainable energy transition. It said the program will focus on securing key components for an “energy expressway,” developing next-generation renewable energy technologies, and building the foundation for carbon-neutral R&D. For the “energy expressway,” the ministry said it will provide 12.9 billion won for technology development, including securing key components such as transformers and establishing AI-based systems to operate distributed power grids. To develop next-generation renewable energy technologies, it said it will invest 61.1 billion won in projects including narrowing essential technology gaps related to commercial-area tandem solar modules and offshore wind turbine blades, as well as expanding agrivoltaics. To accelerate carbon neutrality, the ministry said it will support 98.2 billion won for technology development including large-capacity heat pumps, building a clean hydrogen ecosystem, advancing core technologies across the nuclear power life cycle, and securing domestically developed carbon capture, utilization and storage, or CCUS, technologies. It also said it will invest 29.2 billion won to strengthen the energy R&D foundation by expanding advanced workforce training and bolstering follow-up support for strong research outcomes. A ministry official said additional announcements for new projects tied to international joint research and technology commercialization will come later after required procedures, including consultations with partner countries. The official said briefings for interested companies and researchers will be held on Feb. 5 in Seoul and Feb. 12 in Daejeon.* This article has been translated by AI. 2026-01-29 06:03:00

Guri Mayor Baek Kyung Hyun Lays Out Six Policy Priorities for 2026 Guri Mayor Baek Kyung Hyun used a New Year news conference on Tuesday to present what he called six operating directions for 2026: welfare, the economy, urban infrastructure, transportation, culture and the environment. Baek framed the agenda as a question of direction rather than speed, arguing that city policy should focus on where Guri is headed. On welfare, he emphasized what he described as a tighter safety net, treating support as a system rather than a one-time benefit. He pointed to transportation assistance for older residents and integrated medical and long-term care as administrative responsibilities in a rapidly aging city. On low birthrates, he said the city would approach the issue through housing, caregiving, education and work-life balance rather than relying on cash incentives alone. On the economy, Baek highlighted traditional markets and neighborhood commercial districts ahead of large-scale development or outside capital, signaling a focus on helping existing merchants endure rather than pursuing short-term stimulus. On future growth, he cited the Topyeong Hangang Smart Green City plan and a Sano-dong e-commerce advanced city concept, describing them as efforts to change Guri’s role in the greater Seoul area. On transportation, he pointed to the issue of whether GTX-B trains will stop at Galmae Station, calling it a matter of “citizens’ right to transportation.” On culture and daily-life infrastructure, he referenced festivals, sports and a new administrative welfare center building, saying city competitiveness should be measured in quality of life. On the environment, he cited the restoration of the Inchangcheon ecological stream, expansion of Imunan Lake Park and the creation of more walkable streets as steps toward a city focused on management rather than development. Baek said his guiding phrase for the year is “Nojeokseonghae,” a proverb meaning small accumulations become a sea, underscoring incremental change through repeated execution. He said the six directions are largely already underway, and whether they translate into improvements residents can feel will be determined over time.* This article has been translated by AI. 2026-01-29 05:03:48