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South Korea's National Assembly Passes Criminal Procedure Law Reform Ending Direct Prosecutorial Investigations 청와대는 31일 검사의 직접수사와 직접 보완수사를 폐지하는 형사소송법 개정안이 국회 본회의를 통과한 데 대해 "국회의 입법 과정과 최종 판단을 존중한다"고 밝혔다.성기홍 청와대 홍보소통수석은 이날 언론 공지를 통해 "이번 형사소송법 개정은 수사와 기소의 분리를 통해 권력의 독점과 남용을 막는 한편, 피해자와 국민 인권 보호 수준을 높임으로써 형사사법 시스템이 국민 곁으로 한 걸음 더 다가서도록 할 것"이라며 이같이 말했다.성 수석은 "청와대는 이번 개정안이 현장에서 차질 없이 시행되고 국민께서 삶 속에서 그 변화를 체감할 수 있도록 최선을 다하겠다"고 강조했다.국회는 이날 본회의에서 형사소송법 개정안을 재석 의원 178명 가운데 찬성 175명, 반대 2명, 기권 1명으로 가결했다. 법안 처리에 반대해 필리버스터를 진행한 국민의힘은 표결에 참여하지 않았다.개정안은 수사와 기소를 분리해 검사가 직접 수사하거나 경찰이 송치한 사건을 직접 보완 수사하지 못하도록 하는 내용을 담고 있다. 검사는 경찰에 보완 수사를 요구할 수 있으며 경찰은 원칙적으로 한 달 안에 보완 수사를 마치고 결과를 통보해야 한다. 필요할 경우 수사 기간을 한 차례 연장할 수 있다.경찰이 사건을 불송치하면 고소인과 피해자, 고발인이 이의를 신청할 수 있도록 하고 사건 기록을 열람·복사할 권한도 부여했다. 중대한 위법 수사를 토대로 공소가 제기됐거나 검사가 소추 재량권을 현저하게 일탈한 경우 법원이 공소 기각 판결을 내릴 수 있도록 하는 내용도 포함됐다.다만 입법 과정에서 검사의 보완수사권 전면 폐지에 신중론을 펴온 정성호 법무부 장관은 제도 시행에 따른 부작용을 면밀히 점검해야 한다고 강조했다.정 장관은 법안 통과 직후 자신의 페이스북에 "이제 검사는 수사할 수 없다. 근본적인 변화가 시작된다"며 "처음 가는 길에서 선의나 기대와 달리 부작용이 나온다면 신속히 보완하고 수정하는 데도 주저하지 않기를 바란다"고 밝혔다.이어 "개혁의 성패는 기존 질서를 바꾸는 것 자체가 아니라 국민의 삶을 얼마나 더 풍요롭고 윤택하게 만드는가에 달려 있다"며 "가장 중요한 것은 국민과 민생에 실질적인 도움이 되느냐는 것"이라고 말했다.정 장관은 그동안 검사의 보완수사권이 전면 폐지될 경우 사건 처리가 늦어지고 범죄 피해자 보호에 공백이 발생할 수 있다며 일부 권한을 남겨야 한다는 입장을 밝혀왔다. 보완수사권을 없애려면 경찰이 수사한 모든 사건 기록을 검찰에 넘기는 '전건 송치' 제도를 도입해 경찰권 남용을 견제해야 한다는 대안도 제시했다.정 장관은 "이상과 명분만 앞세우고 성과가 없는 개혁은 국민에게 외면받는다"며 "새로운 형사사법제도가 정의 실현과 피해자 보호를 통해 성공적인 개혁으로 평가받을 수 있도록 법무부도 노력하고 끊임없이 점검하겠다"고 약속했다.* This article has been translated by AI. 2026-07-31 22:32:20 -
Blue House Respects National Assembly's Passage of Criminal Procedure Law Reform The Blue House stated on July 31 that it respects the National Assembly's legislative process and final decision regarding the amendment to the Criminal Procedure Law, which abolishes direct investigations and supplementary investigations by prosecutors.Seong Gi-hong, the Blue House's Chief of Public Communication, emphasized in a media announcement that the amendment aims to prevent the monopolization and abuse of power by separating investigation and prosecution, while enhancing the protection of victims' and citizens' rights, bringing the criminal justice system closer to the public.Seong also assured that the Blue House will do its utmost to ensure the smooth implementation of the amendment so that citizens can feel the changes in their daily lives.On the same day, the National Assembly passed the amendment with 175 votes in favor, 2 against, and 1 abstention out of 178 present members. The opposition People Power Party, which opposed the bill, did not participate in the vote due to a filibuster.The amendment stipulates the separation of investigation and prosecution, prohibiting prosecutors from conducting direct investigations or supplementary investigations on cases referred by the police. Prosecutors can request supplementary investigations from the police, who are required to complete these investigations and report the results within a month. The investigation period may be extended once if necessary.In cases where the police do not refer a case, complainants and victims can file objections, and they are granted the right to access and copy case records. The amendment also allows courts to dismiss charges based on significant illegal investigations or if prosecutors deviate significantly from their prosecutorial discretion.However, Justice Minister Jeong Seong-ho, who has advocated for caution regarding the complete abolition of prosecutors' supplementary investigation rights during the legislative process, stressed the need to closely monitor potential side effects of the new system.Immediately after the bill's passage, Jeong posted on Facebook, stating, "Now prosecutors cannot investigate. A fundamental change is beginning," and urged that if side effects arise unexpectedly, prompt corrections and adjustments should not be hesitated.He added, "The success of reform depends not on merely changing the existing order but on how much it enriches and improves the lives of the people. The most important thing is whether it provides tangible benefits to the public and their livelihoods."Jeong has previously expressed concerns that the complete abolition of prosecutors' supplementary investigation rights could lead to delays in case handling and gaps in protecting crime victims, advocating for retaining some authority. He also suggested implementing a 'full case referral' system, which would require the police to transfer all case records to the prosecution to prevent abuse of police power.Jeong concluded by stating, "Reforms that prioritize ideals and principles without tangible results will be rejected by the public," and promised that the Ministry of Justice would strive to ensure that the new criminal justice system is evaluated as a successful reform through the realization of justice and protection of victims.* This article has been translated by AI. 2026-07-31 22:32:00
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Acting Prosecutor General Koo Jae-hyun Resigns, Citing Responsibility for Criminal Procedure Law Revisions Acting Prosecutor General Koo Jae-hyun Resigns, Citing Responsibility for Criminal Procedure Law Revisions Koo Jae-hyun, the acting Prosecutor General, announced his resignation shortly after the National Assembly passed the amendment to the Criminal Procedure Law. According to Yonhap News on July 31, Koo stated during a press conference at the Supreme Prosecutors' Office that he felt a deep sense of responsibility regarding the law's revision and had just submitted his resignation letter. He had been in office for 258 days since his appointment on November 15 of last year. Koo acknowledged the need for reflection among all members of the prosecution regarding the loss of public trust but emphasized that any institutional reforms should not undermine the essence of the prosecution's role in uncovering the truth and protecting victims and other parties involved in cases. He expressed ongoing concerns about the amendment, stating, "The revised law forces prosecutors to rely solely on investigation records to decide on charges, making it difficult to protect victims and resulting in an inefficient structure that consumes time and resources." Koo added, "It is regrettable and overwhelming that the amendment passed without addressing these concerns. I earnestly request that, even after the amendment is sent to the government, it be reviewed to ensure there are no gaps in the system and that it adequately protects the public." KOSPI Surges Over 1000 Points, Achieving Record High Increase The KOSPI index experienced a historic surge, rising over 1000 points, as concerns surrounding artificial intelligence (AI) and the semiconductor industry dissipated, leading to record foreign and institutional buying. This rebound quickly reversed the steep declines seen over the past three days. On July 31, the Korea Exchange reported that the KOSPI closed at 6595.45, up 1001.89 points (17.91%) from the previous trading day. This marked the first time the index had risen by more than 1000 points in a single day since the domestic market opened. At one point, the index peaked at 6630.77, reaching an increase of 18.54%. This surge surpassed all previous records, including the highest increase of 11.95% during the global financial crisis on October 30, 2008, and the highest point increase of 612.52 points recorded on June 9. The KOSDAQ index also rose significantly, closing at 719.76, up 74.98 points (11.63%), reclaiming the 700-point mark. The driving force behind this surge was the strong performance of major tech companies and news of increased AI investments from the U.S. stock market. The June Personal Consumption Expenditures (PCE) price index met market expectations, providing reassurance, while Microsoft and Amazon reaffirmed their robust cloud performance and plans for increased capital expenditures, quelling skepticism about AI investments. The surge was led by major semiconductor stocks and top market capitalization companies. Samsung Electronics closed at 262,500 won, up 26.81% (55,500 won), reclaiming a market capitalization of $1 trillion. SK Hynix soared 29.95% (396,000 won) to close at 1,718,000 won, hitting the upper limit. First Day of Increased Deposit Requirement Sees Drop in Single Stock Leverage ETF Trading On the first day of the new regulation raising the basic deposit requirement, trading volume for single stock leverage exchange-traded funds (ETFs) plummeted. The basic deposit requirement increased from 10 million won to 30 million won, which is believed to have reduced investor accessibility. On July 31, the Korea Exchange reported that the total trading volume for 14 single stock leverage ETFs, including those for Samsung Electronics and SK Hynix, was 244.01 million shares. This represents a 73.8% decrease compared to the previous trading day's volume of 932.98 million shares. The trading value of the largest fund, 'KODEX SK Hynix Single Stock Leverage,' was 1.2388 trillion won, down 65.8% from the previous day's 3.6254 trillion won. Similarly, 'KODEX Samsung Electronics Single Stock Leverage' saw its trading value drop to 507.7 billion won from 1.4236 trillion won, a decrease of 64.3%. Individual investors also shifted from net buying to net selling. On this day, individuals sold a total of 1.0427 trillion won worth of the 14 stocks, contrasting with the previous day's net purchase of 523.99 billion won. The significant increases in Samsung Electronics and SK Hynix, which rose 26.81% and 29.95%, respectively, likely prompted a wave of profit-taking in the single stock leverage ETFs. The largest net selling was seen in 'KODEX SK Hynix Single Stock Leverage' at 591.5 billion won, followed by 'KODEX Samsung Electronics Single Stock Leverage' at 200.6 billion won and 'TIGER SK Hynix Single Stock Leverage' at 153.6 billion won. The single stock leverage ETFs based on SK Hynix closed with gains of 53-59%, while those based on Samsung Electronics rose by 48-53%. Criminal Procedure Law Amendment to Abolish Supplementary Investigation Authority Passes National Assembly An amendment to the Criminal Procedure Law, which abolishes the prosecution's supplementary investigation authority, passed the National Assembly on July 31, led by the ruling party. The People Power Party had previously engaged in a filibuster to block the bill's processing. During the session, the amendment was approved with 175 votes in favor, 2 against, and 1 abstention out of 178 present. The People Power Party did not participate in the vote. The filibuster, which began immediately after the bill was introduced, ended after 24 hours following the agreement of lawmakers from the Democratic Party and other ruling coalition members. The amendment is a follow-up to the Public Prosecution Service Act and the Serious Crimes Investigation Agency Act, which will take effect on October 2, 2023. It prohibits direct investigations by prosecutors, including supplementary investigations, and grants prosecutors the authority to request supplementary investigations from judicial police officers, who must complete the investigation within a maximum of two months. Additionally, complainants, accusers, and victims can file objections to police decisions not to prosecute, and all investigation materials must be entered into the Criminal Justice Information System (KICS). The amendment also adds new grounds for dismissing prosecutions, including cases where charges are filed due to significant illegal investigations or where the prosecution's discretion is significantly deviated. SK Siltron Acquired by Doosan, Completing Semiconductor Vertical Integration SK Siltron, valued at 5 trillion won, has been acquired by the Doosan Group. This acquisition completes the final piece of Doosan Chairman Park Jeong-won's strategy for vertical integration in the semiconductor industry, encompassing everything from wafer production to electronic materials and post-processing testing. On July 31, SK's board of directors approved the sale of a 70.6% stake in SK Siltron to Doosan for 2.3 trillion won. The stock purchase agreement (SPA) is expected to be signed soon, followed by regulatory approval processes. This transaction comes approximately seven months after Doosan was selected as the preferred bidder for SK Siltron in December of last year. Initially, both parties aimed to finalize the deal in the first half of this year, but the recovery of the semiconductor market and increased demand for AI semiconductors led to a reassessment of SK Siltron's corporate value, delaying the final agreement. Doosan anticipates that the Siltron wafer business can achieve an average annual growth rate of around 7%, setting a revenue target of approximately 3 trillion won by 2031. A Doosan representative stated, "This acquisition contract secures future growth drivers for Doosan and establishes a sustainable profit base. Siltron will not be listed, and we will focus on enhancing shareholder value based on a stable business portfolio." Kakao Bank Union Strikes for the First Time, Over 700 Members Participate The Kakao Bank labor union has gone on strike for the first time since its establishment, following a breakdown in negotiations with management over performance bonuses and wage increases. On July 31, it was reported that over 700 of the approximately 1000 members of the Kakao Bank corporate union participated in the strike, which involved members using their annual leave to withdraw from work. The union demands that employee wages and performance bonuses be increased, citing a 3 billion won increase in the board of directors' compensation this year. Although the two sides discussed a salary increase of 5-6%, they reportedly did not reach a final agreement. Management proposed a plan to pay performance bonuses equivalent to 10% of operating profit, combining cash and company stock. They also emphasized that employee treatment has been steadily improving. The union is continuing internal discussions regarding future strike actions and schedules.* This article has been translated by AI. 2026-07-31 21:40:00
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Justice Minister Jeong Seong-ho: Prosecutors Can No Longer Conduct Investigations Justice Minister Jeong Seong-ho emphasized on July 31 that if adverse effects arise from the recently passed amendments to the criminal procedure law, the government should not hesitate to make prompt corrections.In a post on Facebook, Jeong stated, "Prosecutors can no longer conduct investigations. A fundamental change is beginning."He added, "The success of reform does not lie in merely changing the existing order, but in how much it enriches and improves the lives of the people. High ideals, lofty principles, and grand slogans are secondary. The most important factor is whether it provides tangible benefits to the people and their livelihoods."Jeong warned that reforms that prioritize ideals and principles without delivering results will be rejected by the public, a lesson supported by history across cultures and eras. He assured that the Ministry of Justice would work diligently to ensure the new criminal justice system is recognized as a successful reform.On the same day, the National Assembly passed the amendment to the criminal procedure law with 175 votes in favor, 2 against, and 1 abstention out of 178 present members.Led by the Democratic Party and progressive opposition parties, the amendment completely separates investigation and prosecution, abolishing direct investigations by prosecutors.The amendment also eliminates the prosecutor's right to supplementary investigations, allowing them only to request supplementary investigations from judicial police officers.Following the passage of the amendment, Acting Prosecutor General Koo Ja-hyun expressed his deep sense of responsibility regarding the changes to the criminal procedure law and announced his resignation.Jeong had previously indicated his intention to resign to President Lee Jae-myung through Blue House aides, but it is reported that he did not submit his resignation after being persuaded by the president.* This article has been translated by AI. 2026-07-31 21:28:00
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Kioxia Reports 46-Fold Increase in Q2 Profit Amid AI Demand Kioxia Holdings, a Japanese NAND flash manufacturer, reported a net profit of 842.1 billion yen (approximately $7.6 billion) for the April to June period, a 46-fold increase compared to the same period last year.According to a report by Yonhap News Agency citing Kyodo News, Kioxia's revenue for the April to June quarter reached 1.7671 trillion yen (about $15.9 billion), with an operating profit of 1.27 trillion yen (around $11.4 billion). However, both net and operating profits fell short of market expectations.Kioxia projected a consolidated net profit of 1.27 trillion yen (approximately $11.4 billion) for the July to September quarter, which would be 31 times higher than the same period last year.This surge is attributed to a significant increase in demand for semiconductor memory for data centers driven by the proliferation of artificial intelligence (AI).Yoshihiko Kawamura, Kioxia's vice president, stated during the earnings briefing, "Demand will become even stronger; this is just the beginning. The situation where demand exceeds supply will continue even after October."Kioxia also announced a share buyback plan worth up to 800 billion yen (approximately $7.2 billion) as part of its shareholder return strategy. Additionally, the company plans to conduct a stock split, converting each share into three.* This article has been translated by AI. 2026-07-31 20:48:00
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Samsung's CEO Noh Tae-moon Purchases $7 Million in Company Shares As Samsung Electronics' stock price experiences significant fluctuations, CEO Noh Tae-moon has purchased company shares worth 7 billion won.According to Yonhap News on July 31, Noh acquired 3,045 shares at 230,000 won each, totaling 703.5 million won. This brings his total holdings of company shares to 124,280.This share buyback is seen as a demonstration of responsible management.In 2024, when Samsung's stock was trading in the 50,000 to 60,000 won range, the company's executives also engaged in share buybacks to support the stock price and demonstrate accountability.Samsung's stock reached an all-time high of 374,500 won on June 19 but fell to 207,000 won recently as the KOSPI index dropped below 6,000. However, it closed at 262,500 won, buoyed by a recovery in investor sentiment for semiconductor stocks on the New York Stock Exchange.* This article has been translated by AI. 2026-07-31 20:28:00
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Gwangmyeong Cave dazzles with beautiful lighting Visitors tour the interior of Gwangmyeong Cave in Gwangmyeong, Gyeonggi Province, July 31, 2026. 2026-07-31 20:25:13 -
Gwangmyeong Cave dazzles with beautiful lighting Visitors tour the interior of Gwangmyeong Cave in Gwangmyeong, Gyeonggi Province, July 31, 2026. 2026-07-31 20:24:22 -
2026 Cat Fair Summer draws cat lovers to Seoul Visitors browse cat products at the '2026 Ganatgimo Cat Fair Summer' held at SETEC in Gangnam-gu, Seoul, July 31, 2026. 2026-07-31 20:23:19 -
2026 Cat Fair Summer draws cat lovers to Seoul Visitors browse cat products at the '2026 Ganatgimo Cat Fair Summer' held at SETEC in Gangnam-gu, Seoul, July 31, 2026. 2026-07-31 20:22:12