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KOSPI Looks to Rebound Amid Bargain Buying After Recent Drop On August 7, the KOSPI is expected to attempt a rebound based on bargain buying following a sharp decline the previous day.On August 6, the Dow Jones Industrial Average fell by 0.85%, the S&P 500 dropped by 0.18%, and the tech-heavy Nasdaq decreased by 0.06% on the New York Stock Exchange.Among individual stocks, SanDisk saw a significant drop of 6.81%, while Western Digital plummeted by 13.03% after its earnings report. Notably, Western Digital's stock fell despite exceeding market expectations, as investors reacted negatively to revenue growth reliant on price increases rather than shipment volume increases.As a result, Micron's stock also briefly fell over 7%, but later rebounded to close up 1.31% after Alphabet announced a $25 billion bond issuance, raising expectations for future semiconductor investments. The Philadelphia Semiconductor Index, which had initially dropped more than 2%, ultimately closed up 0.33%.Seo Sang-young, a researcher at Mirae Asset Securities, noted, "While some semiconductor stocks showed weakness after earnings reports, they quickly recovered, starting the day in a stable range. Following Alphabet's bond issuance and hawkish comments from Federal Reserve Governor Lisa Cook, Treasury yields rose, leading to profit-taking and a subsequent decline."The domestic stock market is expected to reflect the trends in the New York market and investor sentiment towards semiconductor stocks. As of 8:16 a.m., in the NXT pre-market, Samsung Electronics was trading up 0.6% at 232,000 won, while SK Hynix rose 0.2% to 1,498,000 won.Han Ji-young, a researcher at Kiwoom Securities, predicted, "Today, the domestic market is likely to attempt a rebound, supported by renewed concerns over the uncertainty in the Strait of Hormuz, caution regarding U.S. employment data for July, and the inflow of bargain buying following the previous day's sharp decline."* This article has been translated by AI. 2026-08-07 08:32:10 -
Jung Jeom-sik Calls for Dismissal of Kim Yong-beom Over ETF Controversy Jung Jeom-sik, the floor leader of the People Power Party, asserted on August 7 that President Lee Jae-myung should dismiss Kim Yong-beom, the head of the Presidential Policy Office, over the introduction of single-stock leverage exchange-traded funds (ETFs).In a post on his Facebook page, Jung stated, "Kim should be dismissed solely for pushing the introduction of single-stock leverage ETFs."He criticized the recent comments made by the chief of public relations at the Blue House, who emphasized the importance of solutions over accountability regarding Kim's actions. Jung remarked, "How serious must the situation be for even members of the Democratic Party to raise accountability issues? To entrust economic policies to someone like this is a declaration of war against the public."Jung further claimed, "Kim has consistently demonstrated a subpar level of performance as the economic policy head. His proposal for an 'AI National Dividend' was an extreme suggestion that sought to use corporate performance as a populist policy tool. Is this truly the policy head of South Korea, or is it someone from Venezuela?"He also recalled Kim's previous statement in May, where he described high interest rates, inflation, and exchange rates as the costs of success, which sparked public outrage. Jung noted, "While the entire nation is suffering from these three high phenomena, Kim appears to take pleasure in self-praise, reminiscent of the lines from 'Chunhyangjeon' about the high songs of corrupt officials amidst the people's grievances."Jung pointed out that the significant drop in the KOSPI index last month was clearly linked to the single-stock leverage ETFs, yet Kim blamed the volatility on individual investors' tendencies. He criticized, "It is common to see government officials justifying poor policies, but it is unprecedented to see someone shift the blame for their mistakes onto the public."Moreover, he declared, "Kim has already become a villain in the Korean economy. He is not a policy head but a 'head of mistakes.' President Lee must dismiss Kim. A personnel change would send the strongest message. As long as the President continues to rely on Kim, he cannot gain the public's trust in economic policies."* This article has been translated by AI. 2026-08-07 08:32:00
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Bitcoin Stays Around $64,000 as U.S. Clarity Bill Delays Progress Bitcoin is hovering around $64,000 as delays in the processing of the U.S. cryptocurrency regulation bill, known as the Clarity Act, limit its upward momentum.According to CoinMarketCap, a global cryptocurrency market site, Bitcoin was trading at $64,265, down 0.60% from the previous day as of 8 a.m. on August 7.While there has been continued inflow of funds into spot exchange-traded funds (ETFs) and accumulation by whale investors, a clear direction is lacking due to the delay in the Clarity Act and a slowdown in buying momentum.The Clarity Act aims to distinguish between securities and commodities in virtual assets and reorganize the supervisory authority of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The Democratic Party in the U.S. has emphasized the need for consensus on key issues such as ethical regulations and anti-money laundering (AML), which has slowed the bill's progress.The cryptocurrency fear and greed index, which reflects investor sentiment, remains at 25, indicating a state of 'fear' as of today.Major altcoins are also experiencing declines. At the same time, Solana is up 0.28% at $72.48, while Ethereum has decreased by 0.12% to $1,899.45. Ripple (XRP) is trading at $1.13, down 0.24%.Meanwhile, on the domestic exchange Bithumb, Bitcoin is trading at approximately 91.26 million won, down 0.63% from the previous day. The so-called 'Kimchi premium,' which indicates the difference between domestic and international prices, is currently at -0.1%.* This article has been translated by AI. 2026-08-07 08:32:00
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Average High Temperature Reaches 30.9 Degrees Amid Record Heat As much of the country endures record heat nearing 40 degrees Celsius, High1 Resort in Jeongseon, Gangwon Province, has reported an average high temperature of 30.9 degrees over the past week. Data from the Korea Meteorological Administration's Automatic Weather Station (AWS) shows that this figure is more than 8 degrees lower than the highest temperatures recorded elsewhere in the country.According to the AWS data collected at the parking lot of High1 Resort in Sabuk-eup, Jeongseon County, from July 31 to August 6, the daily high temperature averaged 30.9 degrees.During the same period, the highest average temperature recorded in Yangsan, South Gyeongsang Province, was 39.2 degrees, which is 8.3 degrees higher than that of High1. Seoul's average high temperature was also reported at 36.9 degrees, about 6 degrees higher than High1.Notably, on August 2, Yangsan's temperature soared to 42.5 degrees, while High1 Resort recorded a high of only 33.3 degrees, resulting in a temperature difference of 9.2 degrees between the two locations.This temperature disparity is attributed to the plateau topography at an elevation of approximately 800 to 1,000 meters and the forest environment of the Baekdudaegan mountain range. During the day, mountain breezes provide relief, and temperatures drop quickly at night, creating a relatively cooler environment compared to urban areas.In response to the summer season, High1 Resort operates the 'Blue Sky Infinity Pool' and Water World, both situated at an elevation of about 800 meters.The Blue Sky Infinity Pool is an outdoor swimming pool located on the 7th floor of the High1 Grand Hotel Convention Tower, offering views of the Baekdudaegan landscape. Water World features attractions such as a wave pool with waves up to 3 meters high, slides, and a lazy river.According to officials at Kangwon Land, Water World boasts one of the largest average areas per visitor among domestic water parks, and wait times for attractions are relatively short.Lee Min-ho, acting head of the Tourism Marketing Division at Kangwon Land, stated, "As confirmed by the AWS data, High1 Resort shows relatively lower temperatures compared to urban areas, attracting visitors looking to enjoy summer in a plateau natural environment."* This article has been translated by AI. 2026-08-07 08:16:00
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Yuanta Securities Maintains Buy Rating for LIG Defense and Aerospace Amid Surge in Cheongung II Demand Yuanta Securities announced on August 7 that LIG Defense and Aerospace is expected to benefit from the expansion of the global air defense missile market, maintaining a 'buy' rating and a target price of 1,050,000 won. The previous day's closing price was 702,000 won, indicating a potential upside of about 50%.Baek Jong-min, a researcher at Yuanta Securities, stated, "In the second quarter, consolidated revenue was 1.111 trillion won, and operating profit was 105.7 billion won. While these figures slightly fell short of market expectations, they represent year-on-year increases of 17.4% and 29.6%, respectively, indicating solid growth." The slowdown in performance compared to the previous quarter is attributed to the diminishing impact of early deliveries of the Cheongung II system to the United Arab Emirates (UAE) in the first quarter. Revenue from Cheongung II was approximately 170 billion won in the first quarter, but it dropped to 99 billion won in the second quarter due to the progress-based revenue recognition. Changes in product composition due to the conclusion of some high-margin export projects also played a role.Yuanta Securities has revised its annual operating profit margin (OPM) forecast for this year from 7% to 8%. This adjustment reflects a reduction in losses from Ghost Robotics and accounts for uncertainties related to increased research and development costs. Analysts believe that actual results may exceed the company's guidance.Particularly noteworthy is the rising demand for the Cheongung II system. During the earnings announcement, the company indicated that supply is not keeping pace with demand. Negotiations for procurement are ongoing with several countries, including those in the Middle East and Southeast Asia, following the recent regional tensions. The planned expansion of production facilities, set to be completed by 2028, is also a measure to address new demand.Baek added, "The U.S. Department of Defense's plans to expand the Patriot (PAC-3) and Terminal High Altitude Area Defense (THAAD) systems are exacerbating the global shortage of air defense missiles. We expect contracts for Cheongung II in the Middle East and Southeast Asia to materialize as early as the second half of this year." * This article has been translated by AI. 2026-08-07 08:12:10
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Man in Wig Enters Women's Changing Room at Caribbean Bay, Police Investigating A man of unknown identity has reportedly entered the women's changing room at the Caribbean Bay water park, prompting an investigation by police.According to Yonhap News and the Yongin Dongbu Police Station, a report was received on July 30 at 4:40 p.m. regarding a "suspicious man wearing sunglasses" in the women's changing room.The person who reported the incident stated, "The individual fled when asked to show identification." By the time police arrived, the suspect had already left the scene.Witnesses reported that the man wandered inside the women's changing room and fled suddenly while talking to a Caribbean Bay employee.The man was described as wearing a black hat, mask, and sunglasses, and he appeared to have a wig on his head.A representative from Caribbean Bay stated, "We are fully cooperating with the police investigation and will enhance safety measures to ensure our customers can enjoy their time more comfortably." Police have been tracking the suspect's movements through nearby CCTV footage for a week. They noted, "There were a large number of people at Caribbean Bay at the time of the incident, making it difficult to identify the suspect, but we will utilize external CCTV in our investigation."* This article has been translated by AI. 2026-08-07 08:08:20
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Aquarium to Host Night Yoga Sessions Starting in September After the last visitors leave, the aquarium will transform into a yoga space for a limited time each evening. Starting in September, Lotte World Aquarium will launch a night yoga program called 'Night Stretch' in front of its main tank. Participants will have the unique experience of practicing yoga while watching marine life swim in the large tank, and they will also have the opportunity to take commemorative photos against the backdrop of the main tank.'Night Stretch' will run from September 2 to 30, with a total of five sessions held every Wednesday. The program will take place from 7 p.m. to 9:30 p.m., lasting approximately 2 hours and 30 minutes. Participants will first have an hour to explore the aquarium freely before engaging in a 90-minute yoga class in front of the main tank. After the class, they can take individual photos with the main tank as the backdrop, and they will also receive instant print photos.The main tank, 'The Ocean,' holds 2,200 tons of water and features a variety of marine life, providing a unique atmosphere for yoga against a blue backdrop.The classes will be led by professional instructors from the wellness complex 'Uluru House.' Various programs will be offered each session, including Mahahatha Yoga, Himalayan Vinyasa, The Flow Yoga, and Pelvic Diet Yoga.This program is notable for allowing only participants to enter after regular business hours. Unlike typical visiting times, attendees can enjoy a relatively quiet environment while exploring the aquarium before experiencing yoga in front of the main tank.Registration is available on the official Lotte World Aquarium website and is fee-based. Each session can accommodate a maximum of 20 participants. Detailed schedules and registration methods can be found on the website.* This article has been translated by AI. 2026-08-07 07:48:20
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Trump sets polysilicon tariff floor, giving Korea partial reprieve SEOUL, August 07 (AJP) - U.S. President Donald Trump has pushed his semiconductor trade offensive further upstream into the industry's raw-material supply chain, imposing new tariffs and minimum import prices on polysilicon but granted South Korea a preferential treatment that could soften the blow for the country's chip and solar manufacturers. The proclamation, signed Thursday following a Section 232 national security investigation, imposes a 15 percent tariff on polysilicon derivatives and establishes minimum import prices for polysilicon, ingots, wafers and solar products beginning Dec. 4, 2026, giving companies four months to adjust supply chains and contracts. The move marks Washington's latest effort to localize strategic manufacturing, extending beyond semiconductors and chipmaking equipment to the raw materials underpinning both advanced chips and solar technology. "Polysilicon is the base material underpinning the security of America's semiconductor and solar-power supply chains," Trump said in the proclamation, arguing that decades of imports had eroded U.S. production and threatened national security. Under the order, imports of raw polysilicon will be subject to a minimum price of $21 per kilogram, while polysilicon ingots and wafers face a $100-per-kilogram floor. Solar cells and modules will carry minimum prices of $0.22 per watt and $0.38 per watt, respectively. Importers unable to certify that products meet those price thresholds will instead pay duties equivalent to the applicable minimum price. The Commerce Department concluded that polysilicon imports threaten U.S. national security, noting America's share of global polysilicon production capacity has plunged from about 50 percent in 2005 to less than 2 percent in 2024, while domestic semiconductor manufacturing has also steadily lost ground. South Korea nevertheless secured more favorable treatment under the proclamation. Products from South Korea, Japan, Taiwan, Switzerland, Liechtenstein and European Union member states will face a combined tariff burden capped at 15 percent, meaning the new Section 232 duty will not stack on top of existing tariffs beyond that level. The United Kingdom will receive a 10 percent rate. South Korea is also designated a "Trade Agreement Partner," allowing qualifying products using partner-country polysilicon to claim manufacturing duty drawbacks under specified conditions. While South Korea is not a major supplier of raw polysilicon to the United States, the latest action broadens Washington's industrial policy further into the semiconductor value chain, affecting companies from materials producers to wafer and solar manufacturers. OCI Holdings, South Korea's largest polysilicon producer, could benefit as the measures are designed to counter lower-priced overseas supply, particularly from China. Hanwha Qcells, which operates one of the largest solar manufacturing complexes in the United States in Georgia, also stands to gain if the price floors reduce competition from cheaper imported cells and modules. More broadly, the proclamation reinforces a trend already reshaping Korea's semiconductor industry. Samsung Electronics and SK hynix have committed billions of dollars to expand manufacturing in the United States, while suppliers across the chip ecosystem have increasingly followed customers into North America. Companies that commit to building, expanding or refurbishing U.S. facilities producing polysilicon, ingots, wafers or solar cells — with construction beginning by Jan. 20, 2029 — will be eligible to import production equipment and covered products without paying the new Section 232 duties during construction. For Korean materials and solar companies with existing or planned U.S. operations, the provision offers a direct financial incentive to manufacture inside the United States rather than export from Korea. 2026-08-07 07:48:14 -
Seongnam Mayor Shin Sang-jin: Creating a Safe Consumer Environment is Essential Shin Sang-jin, the mayor of Seongnam, emphasized on August 7 that "creating an environment where both citizens and visitors can consume with confidence during the vacation season is of utmost importance." On this day, Mayor Shin announced plans to implement "summer vacation price stability management" until August 31, focusing administrative efforts on preventing consumer harm from overcharging and violations of price display regulations during the peak vacation season. As summer vacation approaches, Mayor Shin has initiated measures to alleviate the financial burden on citizens and establish a fair trading order. The new measures go beyond simple guidance, emphasizing enhanced on-site inspections and continuous monitoring. Mayor Shin will operate a comprehensive price management situation room centered on the local economic department, conducting joint on-site inspections of traditional markets and key commercial areas with the economic and transportation departments of Sujeong, Jungwon, and Bundang districts. The plan includes real-time management of price trends during the vacation season, with a focus on ensuring compliance with price display regulations and monitoring unfair trading practices such as overcharging. Notably, Mayor Shin has consistently pursued citizen-centered policies that residents can feel in their daily lives. This price stability initiative aims to reduce consumer burdens and establish a healthy trading order in local markets. He plans to continue identifying and expanding businesses that offer fair prices and excellent service, while also promoting a price stability campaign to encourage merchants' voluntary participation in price stabilization. Additionally, the city will strengthen cooperation with relevant organizations and utilize various promotional media to spread a price stability atmosphere. The city’s website will provide price information on key items to actively support rational consumer behavior. Local citizens have expressed high expectations for these measures. Amid rising dining and living costs, there were concerns that overcharging could worsen during the vacation season. However, with the city’s commitment to on-site inspections and price management, there is growing optimism that a trustworthy consumer environment will be established. Merchants in traditional markets and alleyway businesses also hope that the establishment of a healthy trading order will enhance trust in local markets and stimulate consumer activity. Meanwhile, Mayor Shin Sang-jin added, "We will concentrate our administrative capabilities to alleviate the burden on citizens through thorough on-site management and price stability policies, ensuring that a fair trading culture takes root in the community."* This article has been translated by AI. 2026-08-07 07:44:00
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Trump Imposes 15% Tariff on Processed Polysilicon Products President Donald Trump has announced a 15% tariff on polysilicon and related processed products used in the semiconductor and solar industries. To prevent the influx of low-priced imports, a minimum import price for these products has also been established.On June 6, the White House reported that President Trump signed a proclamation to restrict imports of polysilicon and related products. This measure will take effect on December 4 at 12:01 a.m. Eastern Time.The 15% tariff will apply to products such as polysilicon ingots, wafers, solar cells, and solar modules. Products from South Korea, Japan, Taiwan, the European Union (EU), Switzerland, and Liechtenstein will be subject to a combined tariff rate of 15%, including the existing general tariff. A 10% tariff under Section 232 of the Trade Expansion Act will apply to products from the United Kingdom.Minimum import prices have also been set: $21 per kilogram for polysilicon, $100 per kilogram for ingots and wafers, $0.22 per watt for solar cells, and $0.38 per watt for solar modules.If the declared price is lower than the minimum import price, a separate tariff will be imposed on the difference. Without proper documentation, the full minimum import price tariff may be applied. This action aims to protect U.S. companies from overseas overproduction and low-priced imports.This decision is based on the findings of a Section 232 investigation initiated by the U.S. Department of Commerce in July of last year. This provision allows the president to impose tariffs or restrict imports if it is determined that certain products threaten national security.President Trump stated, "Polysilicon is a foundational material that supports the security of the U.S. semiconductor and solar power supply chains. We are taking action to revive the U.S. polysilicon industry."The White House noted that the U.S. share of global polysilicon production capacity has fallen from about 50% in 2005 to less than 2% in 2024.* This article has been translated by AI. 2026-08-07 07:44:00