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  • Kang Hoon-sik: Parking Enforcement Without Infrastructure is Ineffective
    Kang Hoon-sik: Parking Enforcement Without Infrastructure is Ineffective 강훈식 대통령 비서실장은 19일 이륜차 주차공간 등 기반시설을 충분히 마련하지 않은 채 불법 주정차 단속과 처벌만 강화할 경우 배달노동자의 현실을 외면한 탁상행정이 될 수 있다고 지적했다. 강 비서실장은 이날 오후 청와대에서 수석보좌관회의를 주재하고 경찰청에 배달 업무의 특성과 생계형 운전자의 경제적 부담을 고려한 이륜차 주정차 제도 개선 방안을 마련하라고 주문했다. 안귀령 청와대 부대변인의 서면 브리핑에 따르면 경찰청이 이륜차 불법 주정차에 과태료를 부과하는 내용의 도로교통법 시행령 개정안을 입법 예고한 이후 4000건이 넘는 의견이 접수됐다. 접수된 의견에는 이륜차 주차공간을 확보하지 않은 상태에서 처벌부터 강화한다는 지적과 단시간 주정차가 불가피한 배달 업무의 특성을 고려해야 한다는 요구, 생계형 운전자의 경제적 부담을 우려하는 목소리 등이 담겼다. 강 실장은 지난 14일 경찰청이 실시한 배달노동자 간담회에서도 이륜차 주차공간 확보와 단속 유예가 필요하다는 의견이 제기됐다고 설명했다. 그러면서 “이러한 상황에서 불법 주정차 단속에만 치중한다면 배달노동자의 생계와 현장의 고충을 외면하는 탁상행정이 될 가능성이 높다”고 지적했다. 이어 경찰청을 향해 “현장에서 청취한 의견을 적극적으로 반영해 제도 개선의 취지는 살리되, 이륜차 주정차 인프라 부족과 배달노동자들이 처한 현실, 업무 특성을 고려한 개선 방안을 마련해 달라”고 주문했다. 또한 최근 남해안을 중심으로 발생한 집중호우 피해와 관련해서는 기후변화에 맞춰 국가 방재성능을 높이고 관련 시설을 지속적으로 점검해야 한다고 강조했다. 강 실장은 지난해 전남 무안과 함평에서 기존 방재성능 목표를 크게 뛰어넘는 시간당 140㎜ 이상의 집중호우가 발생한 점을 언급하며 “집중호우의 빈도와 강도가 높아지는 상황에 대비해야 한다”고 말했다. 정부는 기후변화에 대응하기 위해 지난해 12월 방재성능 목표를 대폭 상향했다. 강 비서실장은 관계부처에 강화된 방재성능 목표에 맞춰 하천 제방과 하수관로 등 관련 인프라 정비를 조속히 마무리하고 실제 현장에서 제대로 운영되는지 지속해서 점검하라고 지시했다. 특히 최근 경남 거제에서 발생한 극한 폭우처럼 강화된 방재성능 목표만으로 감당하기 어려운 재난에도 대비해야 한다고 주문했다. 강 실장은 “홍수와 산사태 예·경보 발령, 선제적 대피체계 운영 등 비구조적인 위험관리 방안까지 면밀히 점검해야 한다”며 “예상을 뛰어넘는 재난에서도 국민의 생명을 지킬 수 있도록 대응 역량을 강화해 달라”고 당부했다. 다가오는 국정감사와 관련해서는 국회가 반복적으로 지적한 사안의 개선 성과부터 점검하라고 주문했다. 강 실장은 “국정감사는 정부가 국회의 평가를 받고 부족한 부분을 바로잡을 수 있는 중요한 계기”라며 “해마다 비슷한 지적이 이어진다면 개별 부처나 기관 차원에서 바로잡기 어려운 문제이거나 제도와 관행에 국민 눈높이에서 납득할 수 없는 부분이 있다는 뜻일 수 있다”고 말했다. 이어 “국회가 반복적으로 지적한 사항을 확실하게 개선하고 그 성과를 바탕으로 다가오는 국정감사에 충실히 대응해야 한다”며 “국회의 지적이 정부의 실질적인 개선으로 이어지고 그 변화를 국민이 체감할 수 있도록 끝까지 챙겨 달라”고 강조했다. 그러면서 “국회와 국민으로부터 더욱 신뢰받는 책임 있는 정부가 될 수 있도록 청와대부터 각별히 노력해 달라”고 당부했다. * This article has been translated by AI. 2026-08-19 16:20:00
  • IBK Bank to Launch 100% Foreign-Owned Branch in Vietnam After 9 Years
    IBK Bank to Launch 100% Foreign-Owned Branch in Vietnam After 9 Years IBK Bank has received approval to establish a 100% foreign-owned bank in Vietnam, marking a significant entry into the local market. This is the first time in nine years that the State Bank of Vietnam has authorized the establishment of a fully foreign-owned bank, as IBK joins Shinhan Bank and Woori Bank in a market where they have already established a presence.According to local reports on August 19, IBK Vietnam is set to open on September 25, with a capital of 7.3 trillion dong (approximately 392 billion won), fully owned by IBK Bank. The bank received its establishment and operational license from the State Bank of Vietnam on March 24, and its headquarters will be located in the Landmark 72 building in Hanoi. Park Kyung-il will serve as the legal representative and CEO.The approval for a 100% foreign-owned bank comes after the establishment of Public Bank and UOB in 2016-2017. With IBK Vietnam's launch, the number of fully foreign-owned banks in Vietnam will increase to ten, with South Korea holding three of them, alongside Malaysia, making it the country with the most in this sector.However, the entry requirements are stringent. According to the revised Credit Institutions Law and related guidelines, foreign financial institutions must demonstrate five consecutive years of profitability and maintain total assets of at least $10 billion to establish a fully foreign-owned bank in Vietnam. They must also meet capital adequacy, risk management, and non-performing loan provisions.The reopening of this avenue for South Korean state-owned banks is noteworthy, especially as IBK aims to focus on SME financing. Vietnam is emerging as a beneficiary of the global manufacturing supply chain reshuffle, leading to increased funding demands from SMEs. The presence of South Korean companies and their suppliers in Vietnam is further driving the financial needs of local SMEs.However, obtaining a license is just the first step; establishing a foothold in the market presents its own challenges. Existing banks have already built their networks and customer bases, making it crucial for IBK to navigate its initial years effectively.The market environment is also challenging. The performance of previously established South Korean banks has been mixed. Shinhan Vietnam reported total assets of approximately 237 trillion dong at the end of last year, a more than 22% increase from the previous year, with loans and customer deposits rising by 23.8% and 14%, respectively.Despite this growth, profitability has declined. Pre-tax profit fell to 54.12 trillion dong, a decrease of 6.2%, while net profit dropped to 43.17 trillion dong. Improvements in non-interest income were not enough to offset declines in net interest income and service revenue.Other foreign banks have faced similar challenges. HSBC Vietnam also reported a decline, with pre-tax profit of 41.415 trillion dong, down 6.9%, marking its lowest level in four years, while net profit fell by 6.8% to 33 trillion dong.In contrast, Woori Bank Vietnam was one of the few foreign banks to increase profits, reporting a pre-tax profit of 15.1 trillion dong, a nearly 10% increase from the previous year, with operating profit rising by 18% and net profit reaching 12.05 trillion dong.* This article has been translated by AI. 2026-08-19 16:12:20
  • KOSPI Plummets Amid U.S. Interest Rate Shock, Semiconductor Stocks Hit Hard
    KOSPI Plummets Amid U.S. Interest Rate Shock, Semiconductor Stocks Hit Hard The domestic stock market suffered another significant drop due to a long-term bond shock, as interest rates in major countries like the United States and Japan reached their highest levels in decades. Concerns over the U.S. fiscal deficit and large corporate bond issuances by AI big tech companies have driven rates up, leading to a massive sell-off, particularly in semiconductor stocks. Samsung Electronics and SK Hynix fell by 7% and 9%, respectively. Experts believe this bond shock will persist for the time being.Another Collapse for KOSPIAccording to the Korea Exchange, the KOSPI index closed at 6,471.17, down 398.66 points (5.80%) from the previous trading day, marking the largest drop since July 29 (-5.98%). The index opened 341.06 points (4.96%) lower at 6,528.77 and plummeted to 6,400.81, a decline of 6.83% in early trading.As the index fell sharply, a sell-side circuit breaker was triggered at 9:06 a.m. to temporarily halt program sell orders in the securities market. This was the 25th time this year that a sell-side circuit breaker was activated. Foreign and institutional investors sold a net 4.24 trillion won and 1.79 trillion won, respectively, contributing to the index's decline. Although individual investors bought a net 5.64 trillion won in a bid to capitalize on lower prices, it was insufficient to defend the index. The KOSDAQ index also closed down 9.74 points (1.17%) at 824.46.Semiconductor Stocks Hit Hard by Bond ShockThe root cause of the stock market crash is the surge in long-term U.S. Treasury yields. In the New York bond market, the yield on the 30-year U.S. Treasury bond reached 5.33%, the highest level in 19 years since 2007. The benchmark 10-year Treasury yield also rose to around 4.75%. Meanwhile, Japan's 10-year bond yield surpassed 2.9%, setting a new 30-year high.The sharp rise in long-term bond yields is primarily attributed to concerns over the massive U.S. fiscal deficit and increased supply of government bonds. With the national debt approaching $40 trillion, rising military expenditures due to the prolonged conflict in Iran and increased social security costs have led to a significant rise in the term premium demanded by the market.Additionally, large-scale long-term corporate bond issuances by big tech companies for AI investments have added pressure to the bond market. Companies like Microsoft and Meta are increasing their issuance of long-term bonds to fund data center construction and AI semiconductor supply, competing with government bonds for financing.The surge in long-term rates has raised concerns about increased borrowing costs for companies, impacting stocks in the semiconductor and AI value chain that had previously driven market gains. The Philadelphia Semiconductor Index fell 4.98% overnight, with Micron down 7.0%, and this trend carried over to the domestic market. On this day, Samsung Electronics (-7.82%) and SK Hynix (-9.75%) plummeted, while other major stocks like SK Square (-11.54%), Samsung Electro-Mechanics (-3.68%), and Hyundai Motor (-4.83%) also saw significant declines, leading the index lower.Exchange Rate Drops to 1300 Won LevelAmid the panic in the stock market, the won-dollar exchange rate in the Seoul foreign exchange market fell to the 1300 won level for the first time in about 11 months. The exchange rate closed at 1,397.7 won, down 14.1 won from the previous trading day's weekly closing price. This is the first time the won-dollar rate has fallen below 1400 won since September of last year. The dollar's weakness is attributed to expectations that the U.S. Federal Reserve will not raise interest rates next month, along with an influx of dollar-selling from exporters contributing to the decline.Market analysts believe that the impact of this interest rate shock will not be resolved quickly. Structural issues such as the fiscal deficit, debt, and inflation uncertainty are expected to support long-term rates, overshadowing short-term monetary policy variables. There are also concerns about the synchronization of U.S. and Japanese interest rates and the potential repatriation of Japanese funds.Park Sang-hyun, a researcher at iM Securities, warned, "As Japanese bond yields surge and hedging costs increase due to yen depreciation, there is a growing possibility that funds from Japanese life insurance companies and pension funds invested overseas will return to Japan. If Japanese funds reduce or sell U.S. Treasury purchases, there is a risk of a repeat of the 'Truss Shock' that occurred in the UK in 2022 in global asset markets." Kim Gi-baek, a researcher at Shinhan Investment Corp, added, "The simultaneous rise in global long-term rates raises the discount rate for growth stocks and highlights the burden of corporate capital expenditures, halting any rebound in the stock market. The uncertainty in the bond market is likely to limit the upper range of the stock market for the time being." 2026-08-19 16:12:10
  • Busan City Libraries to Open Registration for September Programs on the 20th
    Busan City Libraries to Open Registration for September Programs on the 20th Busan's city libraries will begin accepting participants for their fall programs at 10 a.m. on September 20, ahead of Reading Month in September. Programs will include school-based math classes, popular author book talks, brain health classes for seniors, and humanities courses, each targeting different audiences and themes. The Busan Metropolitan Central Library will run a 'Math Challenge Classroom' from next month through November. This program will visit middle schools and youth support centers in Seo-gu, Saha-gu, and Yeongdo-gu. The program is designed to utilize math concepts learned in the curriculum, with missions such as decoding number codes, finding patterns, and playing probability games, which teams will solve together. This approach aims to enhance students' mathematical thinking as well as their collaboration and communication skills. Operating hours will be adjusted based on the schedules of the participating schools and institutions. Applications will be accepted through the Busan Metropolitan Office of Education's integrated reservation portal on a school and institution basis. Lee Eun-kyung, the library director, stated, "I hope students will experience learning math as a fun activity through play and collaboration, rather than as a difficult and tedious subject. We will continue to support schools to enhance students' thinking and problem-solving abilities." Saha Library to Host Book Talk with Author Kim Dong-sik The Busan Metropolitan Saha Library will hold a book talk with author Kim Dong-sik on September 12, in celebration of Reading Month. The event is open to 35 local residents aged middle school and above. Kim Dong-sik will discuss his representative work, 'The Gray Man,' sharing stories about the themes of his work, his creative process, and his journey to becoming an author. He will also communicate with participants about the inspiration behind his writing and the process of creating his works. Cho Soo-geum, the library director, expressed, "I hope this will be a meaningful time for participants to meet the author, discuss the book, and share their thoughts." Seodong Library to Offer Brain Health Class and Humanities Program Simultaneously The Busan Metropolitan Seodong Library will present two programs concurrently. In collaboration with the Geumjeong-gu Dementia Safety Center, the library will run a 'Smart Brain Health Living' program for local residents aged 60 and older from November 11 to November 13. This program will take place every Friday in the second-floor learning room and will consist of eight sessions featuring brain health exercises, tangram games, visual perception activities, and cognitive training through puzzles and Sudoku. Additionally, the library has been selected for the '2026 Humanities on the Road' project organized by the Ministry of Culture, Sports and Tourism. From September 15 to November 17, it will conduct a program titled 'Reading Poetry in Seodong Village: Reading the World and Writing Myself' with 20 local residents. This ten-session course will begin with Homer's 'Odyssey' and include works by Jacques Prévert, Pablo Neruda, Kim So-yeon, and Lee Hae-in. The program will also feature film screenings and visits to the Kim Sung-jong Literary Museum and Yosan Literary Museum, concluding with a session where participants create their own poetry. Lee Jin-ok, the library director, stated, "I hope this will broaden thoughts through poetry and that the exploration of literary museums and lectures will help expand the foundation of humanities in the community." All four programs are free of charge, including materials. Registration will open on September 20 at 10 a.m. on the Busan Metropolitan Office of Education's integrated reservation portal, and applications for the brain health class at Seodong Library can also be made through the library's website or in person at the general materials room.* This article has been translated by AI. 2026-08-19 16:12:10
  • Government and Seoul City Clash Over Yongsan Park Development
    Government and Seoul City Clash Over Yongsan Park Development As the government and Seoul City clash over plans to supply housing within Yongsan Park, political parties are showing differing opinions. The fate of the amendment to the Yongsan Park Special Law, which is set to be discussed in the National Assembly on the 20th, has also become a key issue. If approved, the development of Yongsan Park could gain momentum alongside a meeting between Minister of Land, Infrastructure and Transport Kim Yun-deok and Seoul Mayor Oh Se-hoon on the same day.Democratic Party lawmaker Bok Gi-wang, who serves on the National Assembly's Land, Infrastructure and Transport Committee, stated after a party-government meeting on the 19th, "Discussions on how to supply housing across the entire Yongsan Park area have not even begun." He added, "If we determine that there is potential for supply in that area, we can start discussions on how to proceed. The amendment includes provisions to reduce green space ratios, such as at Camp Kim."Kim Young-bae, head of the Seoul City Party, also expressed his views on MBC Radio's 'Kim Jong-bae's Focus,' saying, "In 2006, the need for housing policies for one- and two-person households was not high. Depending on the times, social consensus is needed regarding public land and public purposes. This does not apply to the main park area of 910,000 pyeong." The Democratic Party is reportedly discussing conducting public opinion surveys regarding housing supply in Yongsan Park.Additionally, Minister Kim Yun-deok attended the National Assembly's Land, Infrastructure and Transport Committee meeting, stating, "We are reviewing whether there are limited alternatives for areas that have partially lost their function as parks and green spaces," emphasizing that if there is space for housing supply, it will be directed toward young people and newlyweds.During the meeting, a proposal was made to construct youth housing on the sites of the Supreme Prosecutors' Office and the Seoul High Prosecutors' Office. Lawmaker Hwang Un-ha of the Justice Innovation Party expressed hope for finding a balance between securing housing for youth and preserving green spaces, suggesting that the land in Seocho-dong could be effectively utilized as the Supreme Prosecutors' Office transitions to a public prosecution office, allowing for the consolidation of the Seoul High Prosecutors' Office and the Seoul Central District Prosecutors' Office. He noted that the Supreme Prosecutors' Office site could provide about 30,000 pyeong and urged consideration of using it as public land.In contrast, the People Power Party criticized the government's August 13 real estate supply measures, asserting that the failures of these policies should not be blamed on Yongsan Park. Mayor Oh and other People Power Party lawmakers from Seoul argued that increasing housing supply should focus on redevelopment and reconstruction.The People Power Party's Seoul City Party held a discussion titled 'What is Wrong with the August 13 Real Estate Measures' with Mayor Oh. He remarked, "Currently, the real estate market is experiencing a triple surge in sales, jeonse, and monthly rents. This indicates that the market does not trust government policies." He criticized the government's solutions as not providing clear supply signals but rather imposing more punitive taxes and regulations.Oh added, "If the government insists on failed policies knowing that the public will suffer, it is not a mistake but arrogance. There are already the most reliable and proven alternatives for supply in Seoul: redevelopment and reconstruction." He stated that if the planned maintenance projects in Seoul proceed normally, 310,000 housing units could be started by 2031, emphasizing the need to lift key regulations that hinder project speed, such as restrictions on transferring membership status, private redevelopment project floor area ratios, and the ratio of rental housing in redevelopment.Regarding the utilization of the Yongsan Park site, he asserted, "We should not cover up the failure to control housing prices by blaming Yongsan Park. Damaging assets that future generations will enjoy for the sake of immediate results undermines trust in governance."People Power Party floor leader Jeong Jeom-sik also claimed that the surge in real estate prices is due to the government's and ruling party's tax policies and loan regulations, alleging that they are inciting blame toward Mayor Oh through Yongsan Park. He stated on Facebook, "Yongsan Park belongs to future generations. We should not recklessly dig into it to evade responsibility for failed real estate policies."He pointed out that the special law was enacted during the Roh Moo-hyun administration in 2007, criticizing the Democratic Party for treating the law lightly while engaging in debates over the legacy of President Roh at their party convention.Meanwhile, Yongsan Park is being developed as a national park to return land vacated by the U.S. military to the public. The special law explicitly states that it cannot be used for purposes other than a park.* This article has been translated by AI. 2026-08-19 16:12:00
  • Chinese Stock Market Closes Lower as Tech Shares Decline and Coal Stocks Surge
    Chinese Stock Market Closes Lower as Tech Shares Decline and Coal Stocks Surge The Chinese stock market, which had seen slight gains the previous day, closed lower on August 19. Analysts attribute the decline to the impact of a significant drop in U.S. tech stocks. The Shanghai Composite Index fell 2.40% to close at 3,894.42, the Shenzhen Component Index dropped 5.01% to 13,890.15, and the ChiNext Index decreased by 6.26% to 3,473.49.On the previous night, the Philadelphia Semiconductor Index plummeted by 5%, and major tech stocks in the U.S. also experienced substantial declines. The high valuations of AI-related stocks drew attention, leading to a sell-off in Chinese tech shares. In China, semiconductor, memory, and optical communication stocks related to AI hardware saw significant losses. Analysts suggest that rather than a collapse of the growth narrative in the AI sector, the market is undergoing a necessary valuation reassessment of stocks that had risen too quickly.Rising U.S. Treasury yields also negatively affected tech stocks. The yield on 30-year U.S. Treasuries reached 5.34%, the highest level in 20 years. Similarly, Japan's 10-year bond yield approached 3%. Higher bond yields reduce the present value of future earnings, posing challenges for tech stocks.One of the day's highlights in the Chinese market was the debut of Unitree (宇樹科技), which saw its opening price surge by 629.4% to 1,100 yuan compared to its initial public offering price. However, as selling pressure emerged, the stock closed at 845.0 yuan, reflecting a 460.3% increase.CITIC Securities noted in a report that the narrative surrounding the new AI industry has yet to gain substantial support, with many application scenarios still in conceptual stages and significant time needed for commercialization. They added that it will be challenging to lead a revaluation of the entire sector in the short term, urging the market to patiently await the realization of new industrial narratives.In contrast, the coal sector showed strength, with stocks like Baotailong (寶泰隆) and Shanxi Heimao (陜西黑貓) hitting their daily price limits. This surge was bolstered by announcements from major coking companies in China that they would raise prices starting August 20. As coal prices rise, so do the prices of coking products. Additionally, China's coal production last month hit its lowest level since October 2021, down 10.1% year-on-year, leading to expectations of further price increases due to reduced supply.Banking stocks also saw gains, with shares of CITIC Bank, Agricultural Bank of China, and Industrial and Commercial Bank of China rising significantly. Nanjing Bank reported an 8% increase in net profit the previous day, indicating improved overall performance in the banking sector due to expanded lending and effective debt management.Meanwhile, the People's Bank of China set the yuan's central parity rate against the dollar at 6.7854 yuan, a decrease of 0.0051 yuan from the previous day, reflecting a 0.07% increase in the value of the yuan.* This article has been translated by AI. 2026-08-19 16:12:00
  • SK Hynix Announces $40 Billion Stock Buyback and Retirement, Largest in South Korea
    SK Hynix Announces $40 Billion Stock Buyback and Retirement, Largest in South Korea SK Hynix will execute a $40 billion stock buyback and retirement ahead of schedule, leveraging its record cash flow. This decision comes as the company responds swiftly to shareholder demands amid ongoing labor disputes over bonus payments.The company has also expanded its shareholder return policy from the previous limit of 50% of cumulative free cash flow (FCF) to over 50%. Samsung Electronics is expected to announce additional shareholder return policies as early as this month.On August 19, SK Hynix's board of directors approved the stock buyback and retirement plan. The buyback period will begin on August 20 and last for approximately three months. Based on the closing price of 1,662,000 won per share the day before the board's resolution, the buyback will involve about 24.07 million shares, representing 3.3% of the total issued shares. All acquired shares will be retired.This decision accelerates the timeline for shareholder returns, which were initially planned for 2024, based on 50% of the cumulative FCF from 2025 to 2027. The company had previously indicated that it would consider additional returns if FCF significantly increased before the end of the policy period.With a substantial improvement in cash generation, the conditions for early execution have been established. SK Hynix continues to achieve record results, driven by growing demand for artificial intelligence (AI) memory. As of the end of the second quarter, the company's net cash stood at approximately 69 trillion won. The company believes that its stock price does not adequately reflect its intrinsic value compared to its business competitiveness and cash generation capabilities.This decision also addresses recent shareholder demands for increased returns. During the last regular shareholders' meeting, concerns were raised regarding corporate value enhancement and shareholder returns, particularly as profits have surged due to the AI memory boom.Notably, the announcement of a large-scale shareholder return comes amid ongoing labor disputes. SK Hynix's labor and management have been at odds over the bonus payment method, but they entered a provisional agreement process after negotiations concluded early on August 19. While shareholder returns and employee compensation are separate issues, the company faced pressure from both internal and external stakeholders regarding performance distribution in light of improved results.SK Hynix plans to implement both the stock buyback and cash dividends. In addition to regular dividends, the company is considering an increase in dividends, including special dividends. Specific details regarding the scale and method will be announced during the third-quarter earnings report.The $40 billion stock buyback and retirement is the largest of its kind among publicly listed companies in South Korea. SK Hynix also stated that it is on track to achieve its financial soundness goals. By raising the shareholder return to over 50% of FCF, the company aims to accelerate the return of cash reserves to shareholders in line with improved performance.SK Hynix stated, "We plan to pursue additional shareholder returns through a combination of stock buybacks and dividends, considering cash flow, market conditions, and distributable profits during the policy period. Specific details will be announced following board resolutions during the third-quarter earnings report."Meanwhile, Samsung Electronics is currently operating a shareholder return policy for 2024-2026. The market anticipates that Samsung will also reflect its increased cash generation from the AI memory boom and may unveil its next three-year shareholder return policy as early as this month, with estimates ranging from 100 trillion to 200 trillion won. 2026-08-19 16:12:00
  • Messi and Ronaldo Hint at Retirement, Signaling End of an Era
    Messi and Ronaldo Hint at Retirement, Signaling End of an Era After more than 20 years of thrilling fans and dominating the global football scene, the era of Lionel Messi (Inter Miami) and Cristiano Ronaldo (Al Nassr) appears to be coming to an end.Messi and Ronaldo, who began their professional careers at FC Barcelona (Spain) in 2004 and Sporting (Portugal) in 2002, respectively, have formed an unprecedented rivalry, winning the Ballon d'Or eight and five times. They have also shattered numerous significant records in football history.As they move past their prime, both players are preparing to conclude their professional careers. Following the recent death of his father, Messi has expressed uncertainty about extending his playing days, while Ronaldo has also hinted at retirement after the upcoming season.In an interview with Vogue, published on August 17, Ronaldo suggested that this season could be his last. He stated, "This year might be the final season of my football career," adding, "I want to leave a wonderful legacy when I step off the field." While he has previously mentioned retirement from international play and major tournaments, this is the first time he has clearly indicated a timeline for retiring as a professional player.Ronaldo also shared his plans for life after football, saying, "I have planned my future. The void left by football will be significant, so I need to fill my time in various ways. There will be plenty to keep me busy after retirement." He expressed a desire to enjoy life more, travel frequently, and engage in activities he loves, such as playing and watching padel, stating, "After 25 years of many sacrifices, I want to fully enjoy what my family and I have achieved." Ronaldo's change in mindset is believed to be influenced by recent family events and personal matters. He married his long-time partner, Georgina Rodriguez, on August 11. The couple, who publicly acknowledged their relationship in 2017, are raising five children together: twins Eva and Mateo, daughter Alana, daughter Bella, and Ronaldo's eldest son, Cristiano Jr.The Saudi Arabian Professional League, where Ronaldo currently plays, kicked off the 2026-2027 season on August 13, with the regular season concluding in May. If Ronaldo's statements hold true, May could mark the end of his 25-year professional career. However, with his current tally of 976 career goals, he may adjust his retirement timeline based on the pursuit of reaching the milestone of 1,000 goals.Messi, Ronaldo's eternal rival, is also facing retirement speculation following a significant personal loss. On August 8, his father, Jorge Messi, who had been his agent for over 20 years, passed away. Messi expressed his deep sorrow on social media on August 11, mourning his father's death.Messi wrote, "I don’t know what to do without my father or how to continue my life. I have only played football, and now I am not sure if I can continue this for much longer." He added, "He was with me from the beginning, and there is so little time left; why couldn’t he hold on a little longer to finish this together?" The profound sadness and psychological burden seem to be affecting Messi's performance on the field. He has recently missed three consecutive penalty kicks in official matches, a rare occurrence for him. In a match against Nashville on August 16, during the 20th round of the 2026 Major League Soccer (MLS), Messi took a penalty kick that was saved by the opposing goalkeeper.Previously, Messi also failed to convert two penalty kicks during the recently concluded 2026 North American World Cup, against Austria in the group stage and Egypt in the Round of 16. According to ESPN, this marks the first time since 2014 that Messi has missed three consecutive penalty kicks in official matches.* This article has been translated by AI. 2026-08-19 16:08:00
  • Japanese Kitchen Brand Faces Consumer Backlash Over Delayed Installations
    Japanese Kitchen Brand Faces Consumer Backlash Over Delayed Installations Japanese kitchen brand Cleanup Kitchen is facing criticism from consumers in South Korea for delaying construction despite receiving substantial deposits. One consumer reported, "I signed a contract in mid-January with a promise of completion, but the construction has been delayed for nearly four months." According to consumer A, the South Korean distributor of the Japanese kitchen system brand has not completed the installation despite receiving a deposit of 60 million won. A contract was signed in late November for kitchen systems and tables, with a request to finish the work before moving in January, but the project remains stalled. Photos provided by the consumer show exposed plumbing and wiring, with walls marked but no kitchen furniture present at the site. The company attributed the delays to a shortage of parts in Japan and shipping delays, but A stated that they have not provided a clear timeline for completion or solutions to the issues. The situation has been exacerbated by the company's lack of communication. A expressed frustration, saying, "The company has avoided contact or failed to respond to messages, and I was even blocked from receiving calls. The Gangnam showroom where I signed the contract has closed, and they haven't informed me of its new location." A also mentioned that a written promise to complete the installation within a week last month was not honored. On May 11, a visit to the Cleanup Kitchen showroom in Gangnam revealed that demolition was underway. The sign remained, but most of the interior had been removed. A staff member at the site stated, "Demolition started the day before, and I have no information on where they are relocating." A representative from the domestic distributor explained in a phone call that delays were caused by the impact of the Middle East conflict, which has disrupted parts supply and increased raw material prices by over 30%, affecting the construction schedule. Cleanup Kitchen's headquarters in Japan stated, "There is currently nothing we can do to assist from Japan, but we will report that there are inquiries regarding this matter." Consumer complaints related to delays and incomplete work in interior construction have been steadily increasing. According to data submitted to the National Assembly by Kim Seung-won, a member of the Democratic Party, the Korea Consumer Agency recorded 25,476 consumer consultations related to interior design from 2020 to August of last year. Of these, 6,266 cases, or 24.6%, were related to incomplete contracts, while 6,827 cases, or 26.8%, involved quality issues. During the same period, 2,556 applications for consumer compensation related to interior design were filed, but the average settlement rate at the compensation stage was only 34%. This means that 6 to 7 out of 10 victims do not recover their losses. An industry insider noted, "If some construction has been completed, it is difficult to apply fraud charges because it cannot be seen as intentional deception. For high-value interior contracts, it is essential to specify materials, delivery times, compensation for delays, and liability for defects in the contract." Additionally, a survey conducted by the Korea Consumer Agency involving 40,000 people included interior design in a list of high-risk consumer markets, alongside wedding services and school uniforms. Kim Seung-won remarked, "Despite thousands of cases of interior construction damage occurring each year, consumer compensation remains inadequate. The consistent occurrence of these issues reflects a failure in management and oversight, as well as systemic neglect." * This article has been translated by AI. 2026-08-19 16:08:00
  • Early Players Left Behind in Competition for First Token Securities Product
    Early Players Left Behind in Competition for First Token Securities Product As the token securities (STO) system approaches implementation, applications for primary licenses from distribution platform operators are intensifying, igniting competition for the 'first product' beneath the surface. However, fractional investment companies, which have pioneered the market as innovative financial service providers since the early days of the system's introduction, find themselves sidelined in this initial product competition due to delays in the issuance-related approval process.According to the financial investment industry on August 19, the KDX Consortium and the NXT Consortium submitted applications for primary licenses for token securities distribution platforms to financial authorities on August 10, prompting securities firms to engage in a behind-the-scenes competition to list competitive products on these platforms.Currently, firms such as Kiwoom Securities, Hanwha Investment & Securities, DB Securities, and LS Securities are reportedly searching for underlying assets to secure the first product. With the primary license for distribution platforms expected to be granted as early as December, they must secure actual products and complete the issuance process beforehand to claim the 'first' title.The issue is that fractional investment companies, which have been issuing non-monetary trust income securities and investment contract securities since the system's inception, are effectively excluded from this competition. Initially, these companies were expected to establish themselves as key market players following the system's formalization due to their accumulated business experience in the domestic token securities market.However, the situation has changed during the formalization process. The approval review for issuance-related matters has lagged behind that of distribution platforms, and early-stage startups find it challenging to meet the financial stability requirements demanded by financial authorities.Industry insiders believe that existing fractional investment companies have been effectively excluded from the issuance business. One industry source stated, 'Even if the distribution platform receives its primary license, the likelihood of existing issuers obtaining issuance approval at the same time is low. Ultimately, the first product will inevitably emerge from securities firms that meet the capital, personnel, and trust company approval requirements.'Frustration is growing among early-stage companies. They argue that despite being designated as innovative financial service providers for periods ranging from two to nearly four years, allowing them to validate their business models and gain experience in securities issuance and disclosure, they are unable to fully leverage this experience in the process of entering the regulated market.Particularly, concerns have been raised regarding the burden on profitability due to the application of the Asset Securitization Act. The requirement to retain 5% of the outstanding balance of securitized securities while publicly offering the remainder and paying fees to the distribution platform is seen as a challenge for startups to manage.In contrast, securities firms are better positioned to enter the issuance business with relative ease. They can meet capital requirements, have experience in preparing securities registration statements, and can collaborate with trust companies.Securities firms are actively seeking to tokenize products by locating owners of actual assets. Contrary to initial expectations that fractional investment companies would have an advantage due to their practical experience in asset sourcing and securities registration statement preparation, the business structure required during the formalization process overlaps significantly with the existing operations of securities firms, altering the competitive landscape.Previously, from 2019 to 2024, six businesses designated as innovative financial services related to non-monetary trust income securities by the Financial Services Commission included Casa, Lucent Block, Funble, Musicow, A-Panda Partners, and Galaxia Money Tree. Among these, Funble and Casa announced the termination of their services in April and August of this year, respectively. 2026-08-19 16:04:20