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  • SOOP Shares Plunge Over 12% Following Earnings Miss and Downgrade
    SOOP Shares Plunge Over 12% Following Earnings Miss and Downgrade SOOP's shares have dropped more than 12% during trading after the company reported second-quarter earnings that fell significantly short of market expectations, compounded by a downgrade in target stock prices from analysts. The decline is attributed to weak performance in the content advertising sector and one-time expenses impacting results.As of 2:05 PM on August 3, SOOP's stock was trading at 41,900 won, down 12.71% from the previous trading day, according to the Korea Exchange.The stock's decline is linked to disappointing earnings. For the second quarter of this year, SOOP reported consolidated revenue of 103.8 billion won and an operating profit of 12.6 billion won, marking decreases of 11.2% and 57.9%, respectively, compared to the same period last year.The company cited poor performance in its content advertising business and one-time costs related to a tax investigation as the main reasons for the earnings decline.Following the earnings announcement, analysts have been quick to lower their target prices. Meritz Securities reduced its target price from 76,000 won to 51,000 won while maintaining a 'Hold' investment rating.Lee Hyo-jin, an analyst at Meritz Securities, stated, "While the shareholder return policy may support the stock price, the impact could be limited if the profitability of core businesses does not meet expectations."He added, "In the third quarter, the removal of one-time costs may allow for improved results, but given the domestic market-focused business structure, it will be challenging to find clear growth drivers."SOOP plans to pursue a rebound in performance in the second half of the year by attracting new streamers, improving user interface and experience, and launching new brands.* This article has been translated by AI. 2026-08-03 14:12:00
  • Former Cheongju City Councilor Choi Young-jung Faces Expanded Investigation for Minor Sex Trafficking
    Former Cheongju City Councilor Choi Young-jung Faces Expanded Investigation for Minor Sex Trafficking Choi Young-jung, a former Cheongju City Councilor, is under investigation for additional allegations of sex trafficking involving minors. Following this news, criticism of Choi has surged online.On August 3, various online communities shared posts regarding the discovery of further evidence of Choi's alleged solicitation of minors.According to a report by Newsis on the same day, the Cheongju Cheongwon Police Station has identified indications that Choi may have solicited additional minors for sex during a digital forensic examination of his mobile phone. The police are currently investigating these findings.Authorities have reportedly applied for a search warrant to secure chat records between Choi and the suspected additional victims.A police official stated, "We cannot confirm details related to the investigation, but we will do our utmost to strengthen the investigation during the detention period to substantiate the charges and uncover any additional crimes."In response to the news, netizens expressed outrage, with comments such as, "What nerve does he have to engage in politics?" and "He’s been caught multiple times, yet still tries to hide his face with a mask." Others remarked, "It’s hard to believe he only did this once, given his history of drunk driving and other crimes," and questioned whether he would try to justify his actions as love.Previously, investigators reported that from October 2024 to May 2025, Choi allegedly engaged in multiple instances of prostitution and solicited minors he met through a chat application, as well as produced sexual exploitation materials.He is also accused of offering more money for bringing friends and showing videos of himself engaging in sexual acts, as well as requesting nude photos from the minors.During two rounds of questioning, Choi admitted to soliciting sex but claimed he was unaware that the individuals were minors. He has denied the charges related to solicitation and the production of sexual exploitation materials.On July 30, police obtained a warrant for Choi's arrest and have since received a warrant to access one year’s worth of communication records and account transaction details to verify any additional victims and further crimes. 2026-08-03 14:12:00
  • U.S. and Japan Collaborate to Support Yen Amid Currency Fluctuations
    U.S. and Japan Collaborate to Support Yen Amid Currency Fluctuations The United States and Japan have jointly intervened in the foreign exchange market to defend the value of the yen. Following Japan's sale of dollars to purchase yen, the U.S. Treasury also began buying yen through the New York Federal Reserve. This collaboration to curb yen depreciation marks the first such effort between the two countries in 28 years, since 1998. The yen, which had approached 164 yen per dollar, fell to the mid-150s shortly after the intervention.It is unusual for the U.S. to directly enter the market to support other currencies. Historically, the U.S. has criticized countries for artificially intervening in currency markets, particularly when it involves devaluing their own currencies to enhance export competitiveness, sometimes labeling them as currency manipulators. However, the U.S. has now opted to buy yen, recognizing that the yen's weakness is no longer just a concern for Japan's inflation and monetary policy but also poses a burden on U.S. financial markets.The key issue lies in the U.S. Treasury market. Japan is a major investor, holding over $1 trillion in U.S. Treasury bonds. If the Japanese government were to sell off significant amounts of dollar assets to defend the yen, it could flood the market with Treasuries, leading to a drop in bond prices and a rise in interest rates. Given the existing pressures on long-term interest rates due to fiscal deficits and increased bond issuance, the U.S. cannot afford to ignore a large-scale sale of Japanese Treasuries.Rising U.S. Treasury yields would increase mortgage and corporate loan rates, further burdening the federal government's interest payments. If long-term rates in the U.S. rise, it could lead to a stronger dollar, exacerbating the yen's weakness in a negative feedback loop. The U.S. support for yen stabilization appears to be a strategic move to allow Japan to respond to foreign exchange market pressures without selling off Treasuries, thereby preventing instability in U.S. interest rates. While the intervention aims to defend the yen, it is fundamentally tied to the stability of the U.S. Treasury market.This collaboration also highlights that currency issues are no longer confined to individual countries' export competitiveness. A sharp decline in one country's currency can affect foreign exchange reserves and bond trading, impacting market interest rates in other nations. The U.S.'s decision to intervene directly indicates the growing instability in the Treasury market.However, market intervention alone cannot eliminate the root causes of yen depreciation. As long as there is a significant interest rate gap between the U.S. and Japan, coupled with Japan's accommodative monetary policy, pressure on the yen is likely to persist. This intervention is more about calming excessive volatility rather than permanently reversing the yen's direction. Japan will need to address imbalances in its interest and fiscal policies to avoid continued reliance on U.S. support.South Korea cannot view this situation as unrelated. Although the won-dollar exchange rate has recently dropped significantly, a rapid appreciation of the won can also undermine the profitability of export companies and increase uncertainty in financial markets. The focus should not be on maintaining a specific exchange rate level but on preventing extreme fluctuations that are disconnected from economic fundamentals.The government and the Bank of Korea should enhance communication regarding exchange rates with major countries like the U.S. and Japan. While it is essential to respond decisively to excessive market volatility, the focus should be on maintaining foreign liquidity and market confidence rather than relying solely on intervention. This U.S.-Japan collaboration has demonstrated that exchange rates influence not only trade competitiveness but also Treasury yields and financial market stability. 2026-08-03 14:08:20
  • Hyundai, Kia post record US sales in July
    Hyundai, Kia post record US sales in July SEOUL, August 3 (AJP) - Hyundai Motor and affiliate Kia posted record U.S. sales in July, fueled by strong demand for hybrid vehicles. According to figures released by the automakers on Monday, their combined U.S. sales totaled 165,284 vehicles in July, up 5 percent from a year earlier. Hyundai Motor including its luxury brand Genesis sold 89,427 units, while Kia sold 75,857 units, with both companies achieving their highest-ever sales for the month. Sales of Hyundai's Elantra jumped 38.5 percent from a year earlier to 17,115 units, while Tucson sales totaled 19,714 units and Santa Fe sales reached 13,373 units. At Kia, Sportage led sales with 16,083 units, followed by Telluride with 11,816 units and Carnival with 7,279 units, reflecting continued strong demand for sport utility vehicles (SUVs). The two automakers sold a combined 50,937 eco-friendly vehicles during the same period, up 24.7 percent from a year earlier. Among them, 43,727 units were hybrid vehicles, surging 52.2 percent from a year earlier, while electric vehicle sales fell 40.5 percent to 7,210 units due to the end of a tax break. 2026-08-03 14:08:17
  • Joo Jin-woo Claims Election Commission Manipulated Voter Numbers in 2022
    Joo Jin-woo Claims Election Commission Manipulated Voter Numbers in 2022 6·3 local election ballot shortage issue has led to Joo Jin-woo, a member of the People Power Party, revealing on August 3 that the Election Commission intentionally manipulated voter numbers and turnout rates in 159 polling places during the 22nd general election. At a press conference held at the National Assembly, Joo stated, "Yesterday, I exposed the 'intentional manipulation of voter turnout' during the last presidential election, yet both the Democratic Party and the Election Commission, as well as the joint investigation team, have fallen into deep silence. What is the reason for turning a blind eye to such serious electoral fraud? Are they all in cahoots?" He had previously indicated suspicions of arbitrary manipulation of voter turnout by the Election Commission during the 21st presidential election. He noted, "In the 22nd general election, a new method called 'twin polling stations' was employed," pointing out that the voter counts at polling stations 1 and 6 in Eunpyeong-gu, Seoul, increased identically, as if they were twins. "The identical increase in voter turnout at twin polling stations cannot be a coincidence. It suggests that the officials in charge of each polling station colluded with senior staff at the central Election Commission to fabricate and input numbers at will," he added, mentioning that there were a total of five pairs, or ten locations, of twin polling stations nationwide. He also criticized the manipulation of numbers to deceive the public, stating, "There were nine instances where voter counts were intentionally and falsely entered, following a specific pattern." Furthermore, he claimed that additional cases of intentional manipulation from local and presidential elections had been discovered in 140 locations during the 22nd general election, asserting that the Election Commission has repeatedly committed such offenses in every election. "No one can argue that this was a 'flawed election' anymore," he declared, urging the special investigation committee to conduct a thorough investigation and verification of the erroneous vote count cases and twin vote instances nationwide. He called on the joint investigation team to "immediately conduct a forced investigation to secure the suspects and evidence of the crimes," warning that if they fail to carry out additional server searches and arrests of those involved, he would file criminal charges against the Election Commission suspects and those in the joint investigation team who neglected their duties. Additionally, he urged the Democratic Party to actively cooperate with the launch of a special investigation and a thorough national inquiry, stating, "If the Democratic Party turns a blind eye to the Election Commission's fraud and corruption that occurred during the presidential and general elections, they will face the public's stern judgment and resistance."* This article has been translated by AI. 2026-08-03 14:08:00
  • Im Sung-jae Finishes Tied for 15th at PGA Tour Rocket Classic
    Im Sung-jae Finishes Tied for 15th at PGA Tour Rocket Classic Im Sung-jae finished tied for 15th at the PGA Tour Rocket Classic, which had a total purse of $10 million.On August 3, in the final round held at the Detroit Golf Club in Michigan, Im recorded four birdies and one bogey for a score of 3-under 67.With a total score of 11-under 269, Im ended the tournament tied for 15th alongside Keegan Bradley and Duck Kim, both from the United States.As a result of this tournament, Im's FedEx Cup ranking improved by one spot to 57th. With only the Wyndham Championship remaining in the regular tour events, his entry into the first round of the playoffs (FedEx St. Jude Championship), which is open to the top 70 in the FedEx Cup standings, is virtually assured.Fellow competitor Kim Si-woo struggled on the final day, finishing with a disappointing performance. He recorded two birdies and six bogeys for a score of 4-over 74, ending with a total of 6-under 274, which placed him tied for 42nd. His FedEx Cup ranking remained unchanged at 7th.Meanwhile, the tournament was won by Michael Torbjornsen of the United States, who finished with a total score of 18-under 262, holding off a challenge from Xander Schauffele, also from the U.S., who finished in second place at 16-under 264.Torbjornsen, who made his PGA Tour debut in 2024, achieved his first career victory after two years. He earned a winner's prize of $1,808,000 (approximately 26.12 billion won).Torbjornsen's FedEx Cup ranking surged to 38th.Davis Riley, who was the sole leader after three rounds, was unable to lower his score on the final day, finishing in third place with a total of 15-under 265.* This article has been translated by AI. 2026-08-03 14:04:00
  • MindLogic Sees Rapid Growth Amid Rising Demand for AI in Public and Education Sectors
    MindLogic Sees Rapid Growth Amid Rising Demand for AI in Public and Education Sectors AI startup MindLogic has experienced over a twelvefold increase in revenue within a year, driven by the growing adoption of generative AI in the public and education sectors.As of the end of last month, the company reported cumulative sales of 5.48 billion won for the year, marking a 1132% increase compared to the same period last year.The company attributed its significant performance improvement to the rising demand for generative AI in public and education sectors, along with rapid customer acquisition.The growth has been propelled by the launch of its multi-AI agent platform, FactChat, in March of last year. FactChat allows users to access approximately 80 generative AI models, including ChatGPT, Claude, and Gemini, all within a single platform. It enables organizations to select and utilize various AI models tailored to their policies and operational goals, and is designed for simultaneous use by multiple members.Currently, FactChat has been implemented in 437 organizations, including universities, primary and secondary schools, local governments, businesses, and public institutions. Within about 18 months of its launch, the number of paid users has surpassed 500,000.Service usage continues to grow steadily. As of June, the monthly token usage reached 100 billion. A satisfaction survey conducted among universities and local governments revealed over 90% positive feedback, while a survey in Yongin City recorded a satisfaction rate of 96% among actual users.MindLogic is also expanding its multilingual AI guidance chatbot, InfoMe. InfoMe provides real-time responses to user inquiries on university and corporate websites, and recently added a voice AI-based feature, InfoMe Callbot, to support 24-hour phone consultations.Kim Jin-wook, co-CEO of MindLogic, stated, "The AX experience accumulated in the public and education sectors is translating into business results. We will continue to enhance FactChat and expand our AI transformation efforts into the B2B, B2G, and B2E markets."* This article has been translated by AI. 2026-08-03 14:00:10
  • GS25 Opens 1,000th Fresh-Focused Store to Boost Local Shopping
    GS25 Opens 1,000th Fresh-Focused Store to Boost Local Shopping GS Retail's convenience store chain GS25 is accelerating its entry into the local shopping market with the opening of its 1,000th fresh-focused store.On August 3, GS25 announced the launch of the 'GS25 Cheonan Dujeong Golden Store' in Dujeong-dong, Seobuk-gu, Cheonan, South Chungcheong Province. This approximately 1,400-square-foot store is designed to cater to one- and two-person households by enhancing its selection of fresh products, including vegetables, fruits, eggs, and meats.The fresh-focused store model was first introduced by GS25 in 2021, and it has surpassed 1,000 locations in just five years. The rapid expansion is attributed to the sourcing capabilities and supply chain network of GS25's supermarket brand, GS The Fresh, along with its expertise in product management.The store offers around 2,000 types of fresh products, including not only vegetables and fruits but also refrigerated meats and seasonal seafood. GS25 plans to establish a fresh hub at its logistics center in Hwaseong, Gyeonggi Province, covering approximately 6,500 square feet, by 2024. This initiative aims to reduce the time from order to delivery from two days to one.As a result, the shelf life of products has increased, reducing waste and improving profitability for franchisees. The average daily sales of fresh-focused stores are more than $800 higher than those of regular stores. Additionally, fresh product sales in the first half of this year were reported to be about 12 times higher than those in regular stores.Hong Gi-young, head of the Fresh Support Team at GS25, stated, "We will cultivate fresh-focused stores as a key strategy for qualitative growth in the convenience store business."Meanwhile, on August 6, GS25 will exclusively launch a new flavor of Orion's popular snack brand 'Kkobuk Chip,' featuring the Kakao Friends character Chunsik in the packaging for 'Chunsik Kkobuk Chip Sweet Potato Tanghulu Flavor.'* This article has been translated by AI. 2026-08-03 14:00:10
  • Hyundai Steel Reports 2nd Quarter Operating Profit of 57.7 Billion Won, Down 43.3% Year-on-Year
    Hyundai Steel Reports 2nd Quarter Operating Profit of 57.7 Billion Won, Down 43.3% Year-on-Year Hyundai Steel announced on August 3 that it recorded consolidated sales of 6.1073 trillion won, an operating profit of 57.7 billion won, and a net profit of 12.1 billion won for the second quarter of 2026. While sales increased by 2.7% compared to the same period last year, operating profit fell by 43.3%.Sales rose by 6.4% from the previous quarter, driven by increased demand for rebar products and higher prices for key products. Operating profit also improved compared to the previous quarter.Regarding its debt and borrowing ratio, the company stated, "There was a temporary increase due to new investments in U.S. steel mills, but we will continue efforts to enhance financial soundness from a medium- to long-term perspective."Hyundai Steel plans to focus on expanding sales of key materials for the rapidly growing artificial intelligence (AI) and energy industries to strengthen profitability and secure new growth engines in the second half of the year.Initially, the company aims to actively target infrastructure construction demand linked to the recently announced 'Three Major Mega Projects' in South Korea, expanding its supply of steel materials for AI infrastructure.In line with plans for early completion of semiconductor fabs and additional investments, Hyundai Steel intends to secure more orders based on its comprehensive portfolio of steel products needed for construction and its top-level supply performance in the country.Results in the power infrastructure sector are also becoming visible. Hyundai Steel established a dedicated organization for power infrastructure, including data centers, at the beginning of the year and has successfully secured orders for steel materials for seven new data centers.Building on these order achievements and material competitiveness, the company plans to secure steel materials needed for large-scale data center construction and power infrastructure expansion projects in the future.Hyundai Steel is also proactively responding to the growing demand in the energy sector. In line with the increasing demand for next-generation nuclear power plants, the company has completed the development and mass production system for high-specification plates for containment vessels and plans to supply samples to customers in the third quarter of this year.Additionally, the company is working on expanding new demand through the localization of high-value-added new materials. Hyundai Steel has successfully localized high-durability materials for powertrains in response to the growing demand for high-strength and high-durability gears due to increased sales of hybrid vehicles.This material not only offers high durability but also boasts superior price competitiveness compared to imported counterparts, and it is currently being successfully applied to certain vehicle models. The company plans to continue expanding its application range.Furthermore, Hyundai Steel has developed high-strength crane rails that meet the quality standards of imported products, aiming to replace imports for major ports and steel mills, thereby contributing to improved profitability.A Hyundai Steel official stated, "We will secure new demand through the expansion of sales of key materials for AI and energy industries and the development of high-value-added new materials, and we will improve profitability based on sustainable competitiveness."* This article has been translated by AI. 2026-08-03 14:00:00
  • Jordan Becomes a U.S. Military Outpost Amid Increased Iranian Attacks
    Jordan Becomes a U.S. Military Outpost Amid Increased Iranian Attacks The United States has increased its use of military facilities in Jordan amid escalating Iranian attacks targeting the country. As criticism grows that the U.S. military presence has drawn Jordan into the conflict, calls for troop withdrawal are also rising.According to the Wall Street Journal on August 2, Iran has launched at least 60 missiles and drones toward Jordan since the ceasefire between the U.S. and Iran collapsed on July 8. Jordanian forces intercepted Iranian missiles or drones on eight of the last 14 days.The Iranian attacks have primarily focused on military facilities housing U.S. troops. On July 17, three U.S. soldiers were killed when a missile struck their accommodation at the Muwaffaq Salti Air Base in eastern Jordan. On July 29, Iran fired four missiles targeting U.S. forces in eastern Jordan. The only port in Jordan, Aqaba, was also attacked.As the war drags on, the U.S. reliance on Jordan is increasing. With Gulf allies like Kuwait reducing their military roles, Jordan is seen as a country with relatively fewer restrictions for U.S. operations in the Middle East. U.S. military aircraft and air defense units are stationed at facilities in Jordan.Jordan is a key ally of the U.S., receiving up to $2 billion annually in military and economic aid. However, the perception that military cooperation with the U.S. has made Jordan a target for Iranian attacks is increasing the political burden on the Jordanian government.Last month, over 300 individuals, including former lawmakers, tribal leaders, and civil society representatives, signed an open letter demanding the withdrawal of U.S. troops. They stated, “Jordan is not a party to the war, yet it bears the security and economic damages resulting from U.S. policies,” and called for the cancellation of the military agreement signed between the two countries in 2021.The Jordanian government has described the Iranian missile and drone attacks as violations of its sovereignty and pledged to protect its airspace and citizens. However, it has refrained from publicly addressing domestic criticism that military cooperation with the U.S. has provoked Iranian attacks.* This article has been translated by AI. 2026-08-03 14:00:00