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Iran Warns of Strong Response to U.S. and Israeli Aggression Iranian Foreign Minister Abbas Araqchi has reaffirmed a strong stance against any potential aggression from the United States and Israel, warning that any invasion will be met with a decisive response.On August 1, Araqchi stated via Telegram after a phone call with the Saudi Arabian foreign minister, "Any invasion by the U.S. and Israel or involvement from regional countries will face a firm and proportional response."He also emphasized his warning regarding the U.S.'s "adventurous actions" during phone calls with Turkey's foreign minister and Pakistan's army chief.Major General Ali Abdollahi of the Central Military Command also issued a statement the same day, saying, "The U.S. is rapidly heading down a path that escalates tensions in the Middle East," and warned that any country acting as a shield for the U.S.'s criminal and aggressive actions will be engulfed in the flames of war.Earlier, U.S. media outlets, including CBS and The Wall Street Journal, reported, citing sources, that the U.S. and Israel planned to strike Iranian energy facilities over the weekend.However, President Donald Trump abruptly canceled the planned strikes against Iran on the same day. He stated, "Iran and other Middle Eastern countries have just requested that we hold off on any attacks, as a basic framework for an agreement has been established. For the future of the world and the survival of a successful and prosperous Iran, we have agreed to cancel the attack on the condition that we can quickly reach an agreement."* This article has been translated by AI. 2026-08-02 14:48:00 -
South Korean Navy Ship Named 'Top Gun of the Sea' at RIMPAC 2026 The South Korean Navy's 3,100-ton frigate, the Daejeon, has been named the 'Top Gun of the Sea' at the 2026 Rim of the Pacific Exercise (RIMPAC), the world's largest multinational maritime training event.This marks the first time a South Korean vessel has received this honor since the ROKS Sejong the Great in 2010.According to the Navy on August 2, the Daejeon achieved the highest score in a live-fire support competition held on July 12 in Hawaii, where 13 ships from 10 countries participated.The live-fire support competition involved each ship firing five rounds from a 5-inch gun at a target 7.2 kilometers away, with the winner determined by the smallest total deviation from the target. The results were kept confidential until they were announced at the RIMPAC closing ceremony on July 31.Prior to the competition, the Daejeon crew engaged in tactical discussions and simulated firing exercises to master the firing procedures, which required high levels of mission proficiency and teamwork in the different environmental conditions of the Pacific Ocean.Captain Lee Jeong-soo of the Daejeon stated, "This award for the best combat ship at RIMPAC is the result of all crew members working together with a single mind during training." He added, "We will continue to enhance our combat capabilities to ensure we can fulfill our assigned missions through realistic training."Chief Petty Officer Joo Hyo-jin, who is responsible for the ship's gunnery, expressed pride in achieving the honor of 'Top Gun' with his comrades, stating, "Based on the shooting control skills we have developed through practical training, we will maintain perfect combat readiness to accurately strike targets in any situation."* This article has been translated by AI. 2026-08-02 14:44:00
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AI, Defense, and Robotics Companies Set to Launch IPOs in August Companies in advanced industries such as artificial intelligence (AI), defense, robotics, and semiconductors are set to launch initial public offerings (IPOs) this month. Despite increased market volatility, there are expectations that the IPO market will remain robust, particularly for growth sectors.According to the Financial Supervisory Service's electronic disclosure system DART, companies including Nears Lab, Hachitech, Big Wave Robotics, and Kido Industry are moving forward with their plans for KOSDAQ listings after conducting institutional demand forecasts and general subscriptions this month. These companies operate in the fields of drones, sensor semiconductors, robot automation, and original equipment manufacturing (OEM).The most notable among them is Nears Lab, a company specializing in AI autonomous drones. Nears Lab has set its proposed offering price range between 30,000 and 41,200 won, with a maximum fundraising target of 37.5 billion won. The institutional demand forecast is scheduled for August 12-13, with the listing date expected on the 28th.Nears Lab is involved in defense and wind power facility inspection services and recently signed a supply contract worth approximately $10 million with a company in the United Arab Emirates. However, geopolitical risks in the Middle East and ongoing operating losses are considered potential risks.Seong Hyun-dong, a researcher at KB Securities, stated, "Nears Lab has secured competitiveness in the defense and wind power facility inspection sectors based on its proprietary physical AI technology, and benefits are expected from the expansion of the global drone market."Hachitech is a fabless company designing sensor semiconductors for automotive, industrial, and information technology (IT) devices. Its proposed offering price range is between 23,000 and 28,000 won, with DB Securities serving as the lead underwriter. The maximum fundraising target is 28 billion won. Hachitech supplies products to companies such as Hyundai Motor, Lenovo, Motorola, OPPO, and Vivo, but potential risks include a slowdown in the semiconductor market and decreased demand due to U.S.-China trade tensions. The company is currently expanding its business, focusing on automotive sensors and fingerprint recognition sensors.Big Wave Robotics operates the robot automation platform 'Marosol' and the integrated control platform 'SOLlink.' It provides services across various industries, including manufacturing, logistics, hotels, and hospitals, and is also pursuing entry into the North American market. The company successfully turned a profit last year, but reported an operating loss in the first quarter of this year. Eugene Investment & Securities and Mirae Asset Securities are managing the listing.Kido Industry is an OEM clothing company operating production facilities in Vietnam, Bangladesh, Indonesia, and Myanmar. It produces motorcycle and outdoor apparel, with exports accounting for approximately 67.8% of its business. The company has secured global clients primarily in the U.S. and European markets and is diversifying its production bases to enhance supply chain stability. Its proposed offering price range is between 24,800 and 28,400 won, with a maximum fundraising target of 48.3 billion won. 2026-08-02 14:40:00
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High-Performance 'Kimi K3' Powered by U.S. Semiconductors: Alibaba Supplies 20,000 Nvidia Chips Chinese artificial intelligence (AI) startup Moonshot AI has reportedly utilized approximately 20,000 Nvidia chips provided by Alibaba for the development of its high-performance model, 'Kimi K3.'According to Bloomberg on August 2, multiple anonymous sources confirmed that Moonshot and Alibaba have entered into a contract, with a significant portion of the computational resources used for the Kimi model being supplied by Alibaba.Bloomberg noted that while China is striving for semiconductor independence, this situation illustrates the country's continued reliance on advanced U.S. semiconductors for AI model development.Alibaba is one of the major investors in Moonshot. Sources indicated that Alibaba hopes its invested companies will utilize its cloud services.However, Alibaba is also developing its own AI model, 'Qwon,' creating a competitive dynamic between the two companies. Reports suggest that some Alibaba insiders have expressed disappointment as Kimi, leveraging Alibaba's infrastructure, has outperformed Qwon in several key performance metrics.The Kimi K3 boasts 28 trillion parameters, making it one of the largest open-weight AI models globally. Open-weight refers to a method where the model's learned weights are made publicly available. Moonshot claims that Kimi K3 has demonstrated performance close to top U.S. AI models, surpassing Qwon in some critical evaluations.The emergence of Kimi K3 has sparked debates regarding the effectiveness of U.S. semiconductor regulations against China and the efficiency of Western investments in large-scale AI infrastructure.Michael Kratsios, head of the White House Office of Science and Technology Policy (OSTP), stated that Moonshot has utilized computational resources from Nvidia's Blackwell chips rented through a third party in Thailand for training Kimi K3. Such rental agreements are generally permitted by U.S. authorities.Sources familiar with Moonshot's procurement strategy confirmed that there is a route for accessing Blackwell through Southeast Asia, but it remains unclear whether this is a legitimate rental or a direct purchase that violates regulations.The approximately 20,000 chips that Moonshot is using through Alibaba are reported to be from Nvidia's previous generation, the Hopper series. Multiple sources indicated that these chips are the top-tier H200 model, although Alibaba has denied this claim.An Alibaba spokesperson stated, "There is no basis for the claim that Alibaba supplied H200 chips to Moonshot." However, the company did not deny providing computational resources equivalent to 20,000 Nvidia chips to Moonshot.* This article has been translated by AI. 2026-08-02 14:40:00
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KT Rebrands Online Store as 'KT Direct Shop' to Enhance Customer Experience KT has announced a rebranding of its official online store from 'KT Shop' to 'KT Direct Shop,' focusing on customer convenience and benefits. KT Direct Shop is a direct online store operated by KT, allowing customers to compare and subscribe to telecommunication products such as mobile phones, internet, and TV without visiting a physical store. With this renewal, KT aims to clarify the identity of KT Direct Shop as an online store directly managed by the company, enhancing usability to allow customers to easily view exclusive benefits. Customers can now more intuitively access information on online-only benefits, including a 7% direct discount on rates, simultaneous subscriptions for internet and TV, and rewards for payment and used phones. As part of the first promotion following the renewal, KT Direct Shop will offer a special promotion for customers pre-ordering the Galaxy Z series. The first 1,000 customers who pre-order and activate the Galaxy Z Fold8 Ultra, Galaxy Z Fold8, or Galaxy Z Flip8 through KT Direct Shop will receive a wireless charger, and eight lucky customers will win gold coins through a lottery. Pre-orders will be accepted until August 3, with activations starting on August 4. Kim Young-gul, head of KT's Customer Business Division, stated, 'KT Direct Shop is an online shop directly operated by KT, allowing customers to confidently compare and purchase telecommunication products. Through this renewal, we aim to provide a convenient purchasing experience centered on our customers.'* This article has been translated by AI. 2026-08-02 14:32:00
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Targeted Real Estate Measures Tighten Taxes on High-Value and Non-Residential Properties The South Korean government's follow-up real estate measures are taking shape through a "targeted approach" rather than broad regulatory changes. Tax burdens will increase for high-value and non-residential properties based on both the number of homes owned and their value, while maintaining total loan limits in the financial sector, allowing only down payment loans for certain new apartments nearing occupancy.According to relevant authorities on August 2, the Ministry of Economy and Finance's tax reform plan and the Financial Services Commission and Ministry of Land, Infrastructure and Transport's housing finance and supply measures are expected to be announced with a certain time lag. The financial and supply measures may be revealed as early as mid-August, following the tax reform announcement.The core of the tax reform focuses on refining the criteria from "how many homes are owned" to "what is the value of the home and for what purpose is it owned." Homeowners of a primary residence valued below a certain threshold may see their comprehensive real estate tax and capital gains tax burdens maintained or reduced, while those owning high-value or non-residential properties, as well as multiple homeowners, may face increased burdens.During the national discussion on real estate policy held on July 27, proposals were made to set limits on the tax exemptions for high-value single homeowners and to shift the tax credit for non-residential single homeowners from mere ownership to actual residency. Adjustments to the basic exemption, market value ratio, and tax rates for multiple homeowners were also discussed. However, these remain at the proposal stage, with specific criteria and rates yet to be finalized.There is a strong possibility that the long-term capital gains tax exemption will also be revised to focus on actual residency. Under the current system, single homeowners can receive up to a 40% exemption on capital gains based on the length of ownership, even if they do not reside in the property. When combined with residency period exemptions, the total exemption rate can reach up to 80%.The government is considering reducing or eliminating exemptions based solely on ownership duration and increasing the weight of exemptions based on actual residency. However, to prevent a sudden spike in tax burdens, the focus is likely to be on high-value and non-residential properties rather than mid- to low-priced homes.In contrast, financial policies are expected to maintain a more conservative stance than tax measures. Financial authorities are preparing to support buyers of new apartments who are unable to secure down payment loans due to total household loan management, but existing home buyers will not be included in this support.The support will primarily target buyers who signed contracts before the June 27 measures were implemented last year and are currently preparing to move in. Financial authorities believe it is difficult to treat buyers of existing homes who signed contracts this year under the same conditions as those who applied before the regulations were enforced.On July 28, financial authorities requested that the five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—ensure that down payment loans for actual users of new apartments nearing occupancy are processed smoothly. In some new complexes, collective down payment loans are being executed based on the banks' autonomous judgments. A financial authority official stated, "Smooth supply of down payments is essential for the occupancy of new apartments."Conversely, there is a reluctance to uniformly increase the loan-to-value (LTV) ratio for young couples and first-time homebuyers. In a situation of supply shortage, expanding loan limits could lead to increased home prices, stimulating buyer demand.The expectation of rising home prices remains a significant factor complicating the easing of loan regulations. The Bank of Korea's housing price outlook index for July rose to 127, up seven points from the previous month, marking the highest level since September 2021. This indicates an increase in consumers expecting home prices to rise over the next year.The increase in household loan growth that banks must manage this year is also capped at 1.5%. As the scale of support for down payment loans for new apartments increases, banks may reduce other mortgage or credit loans, creating a balloon effect. Financial authorities are currently estimating the demand for down payment loans in the second half of the year and the resulting increase in household loans.The government is also considering expanding financing for suppliers rather than broadly loosening housing purchase funds for consumers. This includes increasing public guarantees for project financing (PF) for non-apartment and rental housing projects to support construction and supply. The rationale is that providing funds for developers to build homes, rather than lending more money to individuals to buy homes, could help mitigate price increases.A real estate industry official stated, "The government's measures will differentiate support and regulation based on actual residency and housing prices in taxation, and on contract timing and actual supply effects in finance. This structure aims to protect actual residents of mid- to low-priced homes while increasing tax burdens on high-value and non-residential properties, supporting new apartment occupancy while blocking loan relaxations that could stimulate demand for existing home sales."However, as the criteria for policies become more detailed, debates over fairness for actual users on the margins may intensify. Issues such as how to distinguish between single homeowners who temporarily cannot reside due to work or children's education, and whether it is reasonable to treat existing home buyers differently from new apartment buyers, will be contentious points.Professor Kang Seong-hoon of Hanyang University stated, "It is important to reach a social consensus through various discussions on the criteria for high-value homes."* This article has been translated by AI. 2026-08-02 14:32:00
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Challenges Grow for Busan Mayor Jeon Jae-soo One Month After Taking Office Jeon Jae-soo's administration in Busan marked its one-month anniversary on August 1.Since launching with a vision for Busan as a marine capital and a policy alliance with the Lee Jae-myung government, expectations for achievements have been met with concerns about leadership. Following the presidential election, hopes for securing national funding and fostering the marine industry have increased. However, key projects initially ordered for review have largely reverted to their original plans, and cooperation with local political circles regarding the second phase of public institution relocations has faced challenges, putting the administration's operational capabilities to the test early on.A recent Importance-Satisfaction Analysis (IPA) conducted by four local civic groups, including the Sustainable Community Forum and Busan YMCA, from July 6 to 11, revealed both expectations and concerns. Cooperation with the Lee Jae-myung government scored 5.31 out of 7, while national funding secured a score of 5.16. The construction of the marine capital received a high importance score of 5.54 and a performance outlook of 5.37. In contrast, bipartisan cooperation scored only 3.95, and the recovery of Busan's economy was rated at 4.44, resulting in an overall average below 4.66. Experts emphasized the need for a comprehensive growth strategy that encompasses AI, advanced industries, and finance, rather than relying solely on the marine industry.Most of the key projects from the previous administration, which were strongly criticized and ordered for review by the former mayor, are now being re-initiated after practical assessments. The construction of the Busan Women's Plaza and the establishment of the third exhibition hall at BEXCO have been confirmed to proceed as planned due to recognized administrative necessities following central investment reviews and contract progress. The development of Dalmaji Park in Haeundae has seen only minor adjustments in its detailed direction, while the installation of natural levees along the Nakdong River has been halted due to a lack of feasibility.Within the city hall, there are mixed opinions regarding whether the administration prioritized messaging without sufficient review or if it demonstrated flexible governance by considering the opinions of practical staff. However, concerns remain that repeated policy reviews could undermine administrative trust and the momentum of public service organizations.Organizational Restructuring and Public Institution Attraction... Bipartisan Cooperation Remains a ChallengeThere have also been disruptions in personnel and organizational restructuring. Just three days after taking office, 23 senior officials were appointed, and the position of the future innovation deputy mayor from the previous administration was abolished, returning to a dual leadership structure with the administrative and economic deputy mayors. The Marine and Fisheries Bureau was elevated to a second-level organization, the Marine Capital Strategy Office, and new departments for Population and Youth Policy and AI Industry Innovation were established. However, some have criticized the retention of certain so-called 'understaffed' agencies that do not meet the Ministry of the Interior and Safety's standards, suggesting they were kept to alleviate personnel bottlenecks.With the government's announcement of the second phase of public institution relocation roadmaps set for September, political cooperation remains a task. The ruling People Power Party is pushing for the relocation of the Korea Development Bank, while the former mayor and the Democratic Party emphasize establishing the Southeast Investment Corporation, leading to slow progress in forming a bipartisan consultative body. Nevertheless, limited cooperation has been observed with the Busan City Council, which agreed to postpone the processing of an ordinance expanding the scope of personnel verification at the city's request until the September extraordinary session.As Jeon Jae-soo's administration surpasses its first month, experts suggest that establishing a permanent bipartisan consultative body for major issues and demonstrating refined leadership to support policy consistency and execution are essential for stable governance.* This article has been translated by AI. 2026-08-02 14:20:00
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Financial Authorities Consider Emergency Measures to Adjust Leverage Ratios Financial authorities are preparing to implement new regulations targeting single-stock leverage products. To protect investors, they are working on legal amendments that would allow them to directly lower the current leverage ratio of 2:1 for these products.According to the financial authorities on August 2, the Financial Services Commission (FSC) is collaborating with the Financial Supervisory Service (FSS) to establish a legal basis for market stabilization measures aimed at managing the volatility of single-stock leverage products.This follows initial supplementary measures announced on July 16, which included raising the basic deposit requirement, and additional measures on July 30. The authorities are focusing on amending the Capital Markets Act to provide a basis for invoking 'emergency measures.'To inform this approach, they have referenced a recent case from Hong Kong, where the Securities and Futures Commission (SFC) issued guidelines on July 24 allowing adjustments to the leverage ratios of listed leveraged and inverse products based on the asset management capabilities of firms.If emergency measures are authorized, financial authorities would be able to lower the leverage ratios of single-stock products in urgent situations where investor protection is necessary. Current laws stipulate that matters related to beneficiary interests must go through a beneficiary meeting, which requires a majority of voting rights from attending beneficiaries and at least one-fourth of the total issued beneficiary certificates.Without securing emergency measures, it would be challenging to arbitrarily adjust the ratios directly linked to the profits of single-stock leverage products. In a meeting of the Political Affairs Committee on July 29, FSC Chairman Lee Ok-kyung noted that lowering the current 2:1 ratio could help mitigate volatility, but he emphasized the need to consider how to address beneficiary meetings and investor interests during the legislative process.Some analysts predict that if emergency measures are secured, trading restrictions or suspensions could also be possible. The Capital Markets Act was amended last April to allow for trading restrictions of up to five years for unfair trading and illegal short selling, raising questions about whether this could be applied to single-stock leverage products. However, there are concerns that singling out specific products for regulation could deviate from the original intent of broad regulatory powers.Additionally, financial authorities are exploring the early implementation of investment limits and mandatory simulated trading. The investment limit would standardize the single-stock leverage investment cap to around 20% per account. While raising the basic deposit requirement may deter small investors, setting investment limits could help reduce losses for larger investors.Simulated trading is a response to criticisms that existing single-stock leverage education is too theoretical. A financial authority official explained, "We aim to introduce practical training for single-stock leverage products, similar to how investors practice with derivatives and short selling before actual investments." 2026-08-02 14:12:00
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Insurance Industry Faces Rising Policy Cancellations Amid Economic Challenges The life insurance industry is showing signs of increasing policy cancellations. As economic slowdowns and reduced consumer spending lead to more contract terminations, the decline in new contracts raises concerns about growth potential in the sector. Structural factors such as low birth rates and an aging population are expected to further limit the growth of existing products, prompting insurers to seek new growth drivers.According to the insurance industry on August 2, the policy cancellation payouts from 22 life insurance companies reached 5.9197 trillion won in May, a 79.7% increase from 3.2947 trillion won in the same month last year.Since recording 6.0522 trillion won in January, the amount of policy cancellation payouts has exceeded 5 trillion won each month through May. Cumulatively, the payouts reached 28.9704 trillion won by the end of May, up 39.2% from 20.8171 trillion won during the same period last year.The increase in policy cancellations is attributed to a combination of changes in consumer financial management and worsening living conditions. The domestic stock market's strong performance in the first half of the year has led to a 'money move' phenomenon, where funds tied up in existing insurance products are being redirected to investments like stocks. Additionally, high inflation and economic slowdown have increased households' need for cash.Alongside the rise in policy cancellations, the slowdown in new contract inflows has heightened concerns about the weakening growth foundation of the life insurance industry. The cumulative number of new contracts for life insurers in the first half of the year was 4,112,902, a 12.9% decrease from 4,719,407 in the same period last year. If the trend of existing contract cancellations continues alongside a decline in new contracts, it could lead to a reduction in the number of active contracts, undermining long-term profitability.Industry insiders believe that traditional insurance sales alone will struggle to secure growth momentum due to low birth rates, an aging population, and economic slowdown. As a result, life insurers are accelerating efforts to restructure their business portfolios, focusing on new growth areas such as overseas investments, senior care, and healthcare.An industry official stated, "For customers to increase their disposable income, their capacity to purchase insurance must also expand. However, recent consumer conditions have been challenging, weakening the competitiveness of core insurance operations. Given the current market conditions, significant growth in the insurance sector seems unlikely, prompting insurers to concentrate on discovering new growth drivers in overseas investments, senior care, and healthcare."* This article has been translated by AI. 2026-08-02 14:00:00
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Trump Cancels Iran Airstrike, Iran Shifts to Preemptive Strategy President Donald Trump has abruptly canceled a planned airstrike against Iran that was expected this weekend, amid reports that Iran is shifting its strategy from reactive retaliation to preemptive aggression.On August 1, Trump announced via social media platform Truth Social that Iran and other Middle Eastern countries had requested a pause in attacks, stating that a basic framework for an agreement had been established.He said, "I agreed to cancel the attack under the condition that we can quickly reach an agreement for the future of the world and the survival of a successful and prosperous Iran," adding that "Israel is also joining me in this commitment." Trump explained that the agreement includes the immediate and complete opening of the Strait of Hormuz and the cessation of Iran's nuclear threats.However, separate from the negotiations, a notable change in Iran's military response has been observed. According to foreign media, including CNN, Iran launched several ballistic missiles toward a U.S. military base in Jordan on July 28.The U.S. Central Command (CENTCOM) reported that "Iran launched multiple ballistic missiles at U.S. bases in the Middle East, all of which were successfully intercepted by U.S. forces." Previously, military exchanges between the U.S. and Iran had followed a pattern where Iran would attack shipping in the Strait of Hormuz, prompting U.S. retaliatory strikes, followed by Iranian attacks on U.S. bases in the region. Iran had been responding to U.S. preemptive strikes.This time, however, Iran targeted the U.S. base in Jordan without any prior attack from U.S. forces. The U.S. characterized this incident as a "surprise attack attempt." U.S. media outlets have assessed that Iran is demonstrating a willingness to regain the initiative in warfare by breaking the recent military lull and resuming hostilities.CNN reported that Iran appears to have deemed it worthwhile to escalate pressure, even at the risk of provoking renewed U.S. airstrikes, which had briefly paused.The Wall Street Journal noted that the Islamic Revolutionary Guard Corps (IRGC) has shown a fundamental shift, indicating a preference for a prolonged state of war over the domestic political pressures arising from economic hardship and protests during peacetime.While Trump's announcement of the attack cancellation has reduced the immediate likelihood of military conflict, U.S. pressure on Iran is expected to continue. Trump emphasized, "The U.S. is fully armed and ready to deploy against Iran with military might and power not seen since World War II." * This article has been translated by AI. 2026-08-02 13:52:00