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First Management Improvement Order After TMON and WEMAKEPRICE Crisis; Financial Authority Demands Capital Increases from 10 Firms Including Travel Wallet The management improvement system for electronic financial service providers was activated for the first time following the large-scale settlement crisis involving TMON and WEMAKEPRICE. The financial authorities have demanded capital increases from 10 companies, including Travel Wallet, and warned that failure to comply by the deadline could result in operational suspension. The Financial Services Commission announced on July 31 during its regular meeting that it has decided to require capital increases and other measures from 10 electronic financial service providers that failed to meet management guidance standards as of the end of last year. The companies affected are: △ ThePay △ VPayments △ CyrexPay △ OrangeSquare △ IromNet △ JikPay △ Connect △ Core Financial △ Travel Wallet △ PortOne Solutions. Electronic financial service providers include payment gateway (PG) companies that handle online payments and prepaid companies that operate rechargeable payment methods. These firms are required to maintain a certain level of capital and liquidity due to their handling of customer payment and recharge funds. The companies targeted by this action did not meet standards for capital, liquidity ratios, and the ratio of safe assets. ThePay, JikPay, and Connect violated capital and liquidity standards, while CyrexPay fell short of the safe asset holding standard. Travel Wallet was found to have insufficient capital compared to the unused balance of customer funds that had been recharged. The Financial Services Commission has requested that Travel Wallet increase its capital and improve its business structure to enhance profitability. The other companies have been ordered to increase their capital. The 10 companies must implement the management improvement measures by January 31, 2027. If they fail to improve by the deadline, some or all of their operations may be suspended following a decision by the Financial Services Commission. However, they can receive an extension of up to six months if they submit improvement results or specific plans. This action became possible after the revision and implementation of the Electronic Financial Transactions Act in December last year, following the TMON settlement crisis. Previously, the financial authorities lacked the means to directly demand capital increases from electronic financial service providers even if their management conditions deteriorated. The Financial Services Commission explained that this action does not constitute an operational suspension, and the companies will continue normal operations during the improvement period. Among the 10 targeted firms, seven have PG settlement funds or prepaid recharge funds of less than 100 million won, and the remaining three manage customer funds separately, reducing the likelihood of user harm.* This article has been translated by AI. 2026-07-31 17:08:20
Hanwha eyes third Poland K9 deal after $1 bn quarterly profit milestone SEOUL, July 31 (AJP) - South Korea's Hanwha Aerospace remained bullish on the second half after nearly reaching the $1 billion milestone in quarterly operating profit, supported by a record order backlog, mass production under Poland's second K9 execution contract, deliveries to Egypt and Australia, and negotiations for a third K9 deal with Warsaw. The company reported second-quarter operating profit of 1.37 trillion won ($951 million), up 59 percent from a year earlier, on consolidated sales of 9.29 trillion won, which rose 47 percent. The results were driven by steady deliveries from its land systems business in domestic and overseas markets, alongside strong contributions from affiliates Hanwha Ocean and Hanwha Systems. Hanwha Aerospace's land systems division generated 2.11 trillion won in sales and 533 billion won in operating profit, up 19 percent and 2 percent, respectively. Domestic revenue benefited from increased production of key weapons systems including the Chunho wheeled anti-aircraft gun system and Chungum anti-tank guided missile, while exports to Poland, Egypt and the Middle East proceeded as scheduled. The division's order backlog expanded to 38.3 trillion won at the end of June after securing additional export contracts, including a 940 billion won K9 self-propelled howitzer deal with Finland in April and an additional Chunmoo multiple rocket launcher contract with Estonia in May. During a conference call, executives said negotiations over a third K9 execution contract with Poland are progressing, with localization forming the centerpiece of the proposed agreement. "The third K9 execution contract is based on localization, and we are currently in detailed discussions," a company official said. "We expect to reach a conclusion as early as this year." The company also said construction has begun on its Chunmoo missile joint venture in Poland, with the factory scheduled for completion in 2029 and production to begin in 2030. In the United States, Hanwha Aerospace said it is awaiting the selection of a preferred bidder for the U.S. Army's next-generation self-propelled howitzer program, which could be announced around August following delays. The company is also close to finalizing the location of a planned U.S. ammunition manufacturing facility as part of its localization strategy. "We are at the stage just before finalizing the site for localization investment," the official said. "We hope to reach a conclusion in the second half and lead it to a contract." Management said defense demand remains robust across Europe, the Middle East, Asia and the Americas. Rather than weakening exports, the growing emphasis on local production is becoming part of the company's strategy to secure larger overseas contracts. Hanwha Aerospace pointed to its localization projects—including the Chunmoo missile venture in Poland, K9 and Redback production in Australia, and industrial cooperation in Egypt—as examples of adapting to customers' procurement requirements. In the Middle East, executives said heightened geopolitical tensions continue to support demand for air-defense systems, although contract procedures could take longer amid regional uncertainty. They added that stronger demand for air-defense systems is complementing rather than replacing demand for traditional land systems. The aerospace division posted 760 billion won in sales and 37 billion won in operating profit, with revenue rising 17 percent from a year earlier as increased military programs helped the business return to profitability. The company also highlighted aircraft engines as its next strategic growth area. Earlier this month, Hanwha Aerospace and the Agency for Defense Development unveiled two domestically developed unmanned-aircraft engine prototypes—a 5,500-pound-class turbofan for stealth UAVs and a 1,400-horsepower turboprop for medium-altitude reconnaissance drones—and began ground testing. The program marks a technological shift from missile propulsion systems, which operate for minutes, to aircraft engines designed to run reliably for thousands of hours. Hanwha Aerospace said it intends to leverage the project to participate in future government programs developing indigenous 10,000-pound-class turbofan engines and other advanced aircraft propulsion systems. Shares of Hanwha Aerospace closed 6.0 percent higher at 917,000 won on Friday. 2026-07-31 17:06:37
Ulsan City Allocates 7 Billion Won for Outdoor and Internet Advertising Ulsan Metropolitan City has conducted a comprehensive analysis of 1,963 government advertising expenditures from January 2024 to May 2026. The first part of this report examined the distribution of advertising costs across various media outlets, including television and newspapers. The second part focuses on the structure of outdoor and internet advertising, which accounts for 40.8% of the total advertising budget.The total budget allocated for outdoor and internet advertising during this period is approximately 7.09 billion won, representing 40.8% of the overall government advertising budget of 17.38 billion won. Specifically, 4.40 billion won was spent on outdoor advertising, while 2.69 billion won was allocated for internet advertising. As citizens increasingly turn to smartphones and online platforms for information, local governments are diversifying their promotional methods beyond traditional media to include digital billboards, trains, buses, portals, and social media.However, despite the significant budget allocated across various media, there is a lack of publicly available quantitative data to assess the actual exposure of these advertisements and their effectiveness in conveying government information.33.2 Billion Won Spent on Sports, Billboards, and Trains—75.5% of Outdoor Advertising BudgetIn the outdoor advertising sector, a total of 1.03 billion won was spent on promotional activities related to sports. Ulsan City utilized local professional sports teams to promote the city’s brand and key policies.Additionally, 1.14 billion won was invested in outdoor billboard advertising. The total expenditure for advertisements inside trains, including videos, station displays, walls, columns, and lighting, amounted to 1.15 billion won.When combined, the spending in these three areas totals 3.32 billion won, which constitutes approximately 75.5% of the total outdoor advertising budget of 4.40 billion won.Furthermore, 560.85 million won was spent on advertising inside and outside buses. The advantage of billboard and train advertising is that it can repeatedly expose citizens and visitors to government information while they are on the move.However, it is challenging to determine the actual effectiveness of these advertisements based on the publicly available expenditure records, as they do not provide specific data on foot traffic, expected exposure, or the reach during different times and durations.A representative from a local civic group stated, "It is essential not only to confirm that promotional materials were posted on billboards or trains but also to explain how many citizens and visitors were actually reached. Large budgets allocated to recurring projects need to be evaluated for both execution and effectiveness."26.9 Billion Won for Internet Advertising—Limited Click and Reach Data AvailableIn the internet advertising sector, 382.52 million won was spent on Naver ads. A total of 142.87 million won was allocated for Kakao and KakaoMoment ads, while 86.34 million won was spent on Instagram advertising.Portal and social media advertising allows for the segmentation of target audiences based on age, region, and interests. Basic performance metrics such as exposure counts, click counts, click rates, video views, and website traffic can be quantified, distinguishing it from traditional media and outdoor advertising.However, the publicly disclosed government advertising records primarily focus on media names and expenditure amounts, making it difficult to ascertain how much individual internet ads were exposed and how many clicks or visits to the government website resulted.Moreover, it is challenging to determine the specific goals set for each advertisement, whether actual performance met those goals, and how the effectiveness relative to the advertising budget will inform future plans based solely on the disclosed expenditure records.In particular, portal and social media advertising can be quantitatively assessed using data provided by the platforms. It has been suggested that managing exposure counts, click rates, video views, and user responses alongside expenditure amounts is necessary to compare the effectiveness of different advertising methods.A civic group representative remarked, "Government advertising is public funding aimed at effectively conveying policy information. The criteria for media selection, as well as the exposure results and promotional effectiveness after the advertising is executed, should be made available for public scrutiny."Need for Improved Performance Measurement in Media Selection and EvaluationThe effectiveness of government advertising cannot be judged solely by the fact that ads were broadcast or posted. Even with the same budget, the effectiveness of policy communication can vary based on the location and timing of the ads, the target audience, and the content.While outdoor advertising has limitations in accurately calculating the number of recipients, it can utilize estimated foot traffic, exposure range, and potential for repeated exposure as evaluation metrics. For portal and social media advertising, evaluation can be conducted using metrics such as exposure counts, click rates, and website traffic provided by the platforms.A representative from the local advertising industry advised, "It is necessary to establish performance indicators tailored to the characteristics of each media type in advance and analyze the actual results after execution to reflect them in future advertising plans and budget allocations."If Ulsan City can provide clearer criteria for media selection, promotional goals, execution results, and performance measurement data in the future, it could reduce equity concerns surrounding government advertising and enhance the credibility of public budget expenditures.* This article has been translated by AI. 2026-07-31 17:04:00
HD Hyundai Reports 262.2% Increase in Q2 Operating Profit HD Hyundai announced on July 31 that it recorded consolidated sales of 22.4094 trillion won and an operating profit of 4.1246 trillion won for the second quarter. This represents a 30.2% increase in sales and a 262.2% increase in operating profit compared to the same period last year. The strong results were driven by solid performances across its key sectors, including shipbuilding, construction machinery, refining, and power equipment. For the first half of the year, the company achieved cumulative sales of 42.0113 trillion won and an operating profit of 6.9594 trillion won. Breaking down the second-quarter results by sector, HD Korea Shipbuilding & Marine Engineering saw its sales rise by 20.2% year-on-year to 8.9270 trillion won, with operating profit increasing by 72.5% to 1.6451 trillion won, thanks to improved productivity and higher sales of high-margin vessels. The company plans to maintain its competitive edge in the high-value eco-friendly ship market and enhance profitability through a selective order strategy. HD Hyundai Marine Solutions reported a 24.1% increase in sales to 580.4 billion won, with operating profit rising 17.6% to 97.6 billion won, driven by growth in its core businesses, including ship parts and services, eco-friendly retrofitting, and digital solutions. The company aims to strengthen its competitiveness in the high-value-added AM business and accelerate its entry into the market for power engines for data centers and floating data center retrofitting. In the construction machinery sector, HD Hyundai Site Solutions experienced a 17.9% increase in sales to 2.5235 trillion won and a 79.6% rise in operating profit to 272 billion won, fueled by improved global market conditions, increased sales of next-generation excavators, and expanded industrial and defense engine sales. The company plans to lay the groundwork for sustainable growth through portfolio diversification and the development of eco-friendly technologies, including unmanned and electrified products. HD Hyundai Oilbank reported sales of 9.4774 trillion won and an operating profit of 1.8241 trillion won amid external challenges such as prolonged geopolitical risks in the Middle East and increased volatility in international oil prices. The profitability of its lubricants and petrochemicals businesses improved, positively impacting overall performance. The company plans to continue introducing various alternative crude oils and flexible procurement strategies to ensure domestic energy supply stability in the second half of the year. HD Hyundai Electric saw its sales and operating profit increase by 26% and 37.3%, respectively, to 1.1418 trillion won and 287 billion won, supported by growth in its distribution sector and improved profitability in overseas markets. The company aims to establish a sustainable growth foundation by strengthening its existing power equipment business alongside its distribution and rotating equipment sectors. An HD Hyundai official stated, "In the second quarter, we achieved performance improvements across all business areas, solidifying our business structure. We will focus on securing profitability through the expansion of selective orders for high-value vessels, exploring new markets, and improving our product mix."* This article has been translated by AI. 2026-07-31 17:04:00
Top Five Financial Groups and Banks Designated as Systemically Important for 2027 The top five financial groups and their affiliated banks, including Shinhan, KB, Hana, Woori, and NH, have been designated as systemically important financial institutions for 2027. These institutions are required to maintain higher capital reserves than regular banks and prepare their own recovery plans for crisis situations.The Financial Services Commission announced on July 31 that it has selected the five major financial groups along with Shinhan Bank, KB Kookmin Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank as 'systemically important banks and bank holding companies' for 2027. The list remains unchanged from last year.Systemically important banks are defined as large institutions with significant interconnectedness to other financial entities, meaning that their failure could impact the entire financial market. Regulatory authorities evaluate domestic banks, foreign bank branches, and bank holding companies annually based on size, interconnectedness, and the difficulty of substituting them with other financial institutions.In addition to the five major financial groups and banks, the Industrial Bank of Korea and the Export-Import Bank of Korea also exceeded the selection criteria. However, these two banks were excluded from the final list due to government ownership and legal provisions for loss compensation.The ten selected institutions will be required to set aside an additional 1% in capital reserves next year. Consequently, the common equity tier 1 capital ratio must be maintained at a minimum of 9%, the total capital ratio at 12.5%, and the basic capital ratio at 10.5%.However, the Financial Services Commission noted that since the selection results are the same as last year and the capital ratios of these financial institutions exceeded the minimum requirements as of the end of 2025, the new capital burden is not expected to be significant.These financial institutions are also required to submit plans for self-recovery in the event of a crisis. They must submit their recovery plans, which include measures for capital enhancement and asset sales, to the Financial Supervisory Service within three months of receiving the designation notice.* This article has been translated by AI. 2026-07-31 17:00:00
Financial Authority Reduces Lotte Card's Business Suspension for Data Breach The Financial Services Commission has imposed a 1.5-month business suspension on Lotte Card following a cyber breach that exposed the information of 2.97 million customers. This penalty is significantly lower than the 4.5-month suspension recommended by the Financial Supervisory Service, taking into account the potential impact on consumers.On July 31, the Financial Services Commission finalized the sanctions during a regular meeting.Investigations revealed that Lotte Card violated security obligations by failing to conduct necessary corrections in its online payment system, not encrypting personal identification numbers and passwords, and not installing antivirus software.The suspension will take effect from August 1 and last until September 15, totaling 1.5 months. This is a substantial reduction from the initially proposed 4.5-month suspension.Initially, there were expectations of a severe penalty for Lotte Card, especially since this is not the first incident; the company faced a three-month suspension in 2014 due to a similar data breach. The seriousness of the current breach was heightened by the fact that it resulted from external hacking rather than internal employee misconduct.However, Lotte Card's proactive response immediately following the incident and the absence of further secondary damage likely contributed to the reduced suspension period.A Financial Services Commission official stated, "The duration of the business suspension was determined by considering various factors, including fairness with previous sanctions, the company's recovery efforts, and the impact on the financial market and consumers."The official added, "It is undesirable for customers who are not at fault for the data breach to experience inconvenience due to the business suspension. Therefore, while new card services for new members will be halted, existing members will still be able to apply for and use card-related services."The fine has been confirmed at 5 billion won, as originally proposed. The disciplinary action against former CEO Jo Jwa-jin, which was also recommended by the Financial Supervisory Service, will be handled according to the Credit Finance Business Act, which allows the Financial Supervisory Service to impose certain sanctions on retired executives.To prevent future data breaches, the Financial Services Commission plans to introduce punitive fines for serious security incidents, which could be up to 3% of total revenue. It will also actively support the passage of amendments to the Electronic Financial Transactions Act, which includes strengthening the authority of Chief Information Security Officers (CISOs) to enhance security measures. 2026-07-31 17:00:00
Toss Payment and Remittance Firms to Enhance Risk Management Amid Regulatory Changes Toss Group's payment and remittance electronic financial service providers will now be included in the group's internal control and risk management framework. This measure aims to eliminate regulatory gaps that previously excluded certain providers from oversight based on their industry classification. The Financial Services Commission announced on July 31 that it approved amendments to the 'Supervision Regulations for Financial Conglomerates' during its 14th regular meeting. On July 15, the commission designated eight groups, including Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB, Daou Kiwoom, and Toss, as financial conglomerates for this year. Toss was the first among big tech financial groups to receive this designation. Being classified as a financial conglomerate means that the group must manage internal transactions, risk concentration, and the potential for financial distress across its affiliates. However, some electronic financial service providers had previously been excluded from oversight because they were not classified under the 'Finance and Insurance' category of the Korean Standard Industrial Classification. Electronic financial service providers offer services such as easy payments, remittances, prepaid card issuance, and online payment processing. Even if they belong to the same group and perform similar functions, regulatory discrepancies arose when their industry classifications differed, leading to some companies being exempt from internal control and risk management. The Financial Services Commission has amended the regulations to include electronic financial service providers not classified under finance and insurance as part of the affiliated financial companies within financial conglomerates. Consequently, risks arising from operational issues, such as system failures or data breaches, will now be managed at the group level to prevent spillover effects to other financial affiliates like banks and securities firms. The expansion of fintech and big tech companies into banking, securities, and insurance has increased interconnections among affiliates, further motivating this regulatory change.* This article has been translated by AI. 2026-07-31 16:52:00
Construction Company Change Stalled Again for Sangdaewon 2 District The redevelopment project for Sangdaewon 2 District in Seongnam, Gyeonggi Province, has once again reached a crossroads regarding the selection of a construction company. The association's attempt to terminate its contract with DL E&C and switch to GS Construction has been halted by a court ruling that intervened in the annual general meeting. The association now faces the challenge of either renegotiating terms with DL E&C or enhancing procedures to pursue the change in construction companies, but either path is likely to prolong uncertainty regarding the construction schedule.The Suwon District Court's Seongnam branch determined that the temporary general meeting held on May 30 did not meet the necessary quorum requirements due to procedural flaws. Consequently, the court provisionally recognized DL E&C's status as the construction company and suspended the effectiveness of the contract termination notice and the resolutions from the temporary general meeting.The court's decision hinged on the quorum issue. While the association's minutes indicated that 1,137 members were present for the vote on the construction company selection, the court ruled that at least three members should be excluded due to early departures, actual absences, and representatives lacking proper authorization. This reduced the number of attendees to 1,134, falling short of the majority by one.Additionally, the court found that the association's acknowledgment of 51 retraction letters regarding the termination of the contract with DL E&C meant that the quorum was not met for general matters. Both the selection of a construction company and the termination of the existing contract faced issues at the meeting's establishment stage.However, this ruling did not assess the merits of the construction costs or project conditions proposed by DL E&C and GS Construction. The court did not determine responsibility for the disputes over construction costs, high-end brand applications, and finishing materials. It focused solely on the quorum issue, leading to a significant likelihood that the meeting's resolutions would be deemed invalid.As a result of this decision, DL E&C retains its legal status as the construction company for the time being. The subsequent contracting process based on the resolution to select GS Construction has also been halted. Nevertheless, the resolution of the construction company status does not revert the project conditions and construction schedule to their previous state.If the association wishes to continue with DL E&C, it must resolve existing conflicts regarding construction costs and the application of the high-end brand 'Acro.' The trust between the two parties has been damaged due to the association's attempts to terminate the contract twice, and it remains to be seen whether DL E&C will maintain the previously proposed construction conditions.Should the association continue to pursue a change in construction companies, it will need to restart the general meeting procedures. This includes verifying member identities, handling representative authorizations, and addressing the retraction of written resolutions, all of which were flagged by the court. With the court intervening in both the previous contract termination and the second resolution to change the construction company, trust issues regarding the association's leadership and meeting management may also arise.The association may consider appealing this provisional ruling. However, pursuing an appeal could prolong the legal uncertainty surrounding the construction company status. While awaiting the appeal's outcome, negotiations with DL E&C or the procedures for changing the construction company may face significant delays.The project timeline is also expected to be affected. The association will likely need to reassess the construction costs and start plans based on GS Construction's proposal. If it continues with DL E&C, it will have to renegotiate construction conditions, and if it pursues a change, it will need to go through the general meeting and subsequent contracting processes again.Without a confirmed construction company and project conditions, subsequent procedures such as financing, construction commencement, and member contribution calculations may be delayed. As the project duration extends, financial costs and project expenses may increase, leading to a greater burden on the members.While DL E&C retains its status as the construction company, the project timeline for Sangdaewon 2 District has not been restored to its previous state. Until the association reestablishes its relationship with DL E&C or pursues a change in construction companies through proper procedures, uncertainty regarding construction costs and the start date is expected to persist.Meanwhile, a representative from DL E&C stated, "This court decision has suspended the effectiveness of GS Construction's selection as the construction company and restored DL E&C's status. We will work towards normalizing the project by resolving the demolition issue of the Baptist Church and expediting the construction start."* This article has been translated by AI. 2026-07-31 16:48:00
Tesla Considers Selling China Operations Amid U.S.-China Competition; Musk Calls It 'Fake News' Elon Musk, CEO of Tesla, has hinted at the possibility of merging his aerospace company SpaceX with Tesla, while the Wall Street Journal reported on July 30 that he is considering selling Tesla's China operations amid U.S.-China competition. However, Musk has denied these claims, labeling them as 'fake news.'According to the report, Musk has directed Tesla's management in recent years to clearly separate the U.S. and China divisions. This restructuring aims to ensure that at least the U.S. operations can survive in the event of geopolitical conflicts arising from U.S.-China tensions.Sources indicate that Musk is particularly concerned about Tesla's reliance on lithium iron phosphate (LFP) battery cells from China and the potential disruption to Tesla's semiconductor supply chain, which depends on TSMC, if China were to invade Taiwan. Tesla began producing electric vehicles at its Gigafactory in Shanghai, the first wholly foreign-owned car factory in China, in 2019, and plans to complete its battery plant, the Megafactory, in 2024.Additionally, some executives have reportedly been instructed to prepare for the separation of the China division in anticipation of a merger with SpaceX. Tesla advisors are said to be considering various options for the China operations, including spin-off, sale, or closure.This is due to concerns that a merger between SpaceX, which has significant dealings with the U.S. government, and Tesla could raise alarms regarding Tesla's Chinese subsidiary amid U.S.-China competition. The Chinese government is also likely to be vigilant about the potential for Gigafactory expertise and supply chains to be utilized by the U.S. military. Sources suggest that China may demand measures to prevent the illegal transfer of rare earth materials from Tesla to SpaceX.In February, SpaceX merged with Musk's AI startup xAI, and he recently hinted at the possibility of a merger between SpaceX and Tesla. During a conference call following Tesla's earnings report last week, he stated, 'As you can see from the various collaborations between SpaceX and Tesla in multiple areas, the overlap between the two companies is increasing,' adding that any merger should go through the appropriate procedures.However, any separation of the China division would significantly impact Tesla and could affect its valuation in a merger with SpaceX, according to the Wall Street Journal. Despite the rise of local electric vehicle manufacturers, China remains Tesla's second-largest market after the U.S.Meanwhile, Musk has refuted the Wall Street Journal's report about separating Tesla's China operations, calling it 'fake news.' He stated on social media platform X, 'This topic has never been discussed,' asserting that it is 'completely fake news.' Following Musk's denial, Tesla's stock rose 3.53% in the U.S. market on July 30. 2026-07-31 16:48:00
Cortis teams with Juicy J for 'Motion' ahead of Lollapalooza debut SEOUL, July 31 (AJP) - K-pop rookie boy group Cortis has enlisted Academy Award-winning rapper Juicy J for its latest digital single, "Motion," as the rookie group prepares for its debut appearance at Lollapalooza Chicago this weekend. BigHit Music said Friday that the track was released at 1 p.m. KST. Drawing inspiration from the Memphis hip-hop sound that emerged in the U.S. South during the 1990s, "Motion" reinterprets the genre through the group's own musical identity. All members of Cortis participated in writing and composing the song, while Juicy J appears as a featured artist. A founding member of Three 6 Mafia, the Memphis rapper won an Academy Award for "It's Hard out Here for a Pimp" from the film Hustle & Flow and has collaborated with artists including Katy Perry, Megan Thee Stallion and Travis Scott. Cortis said the project grew out of a relationship established before its debut. "Working with Juicy J wasn't simply about bringing together two artists," the members said. "It was built on mutual respect and a shared understanding of each other's music, and it's a song we've wanted to share for a long time." Following its performance at Lollapalooza Chicago, Cortis will return to Seoul to celebrate the first anniversary of its debut with concerts at Korea University's Hwajeong Gymnasium on Aug. 22 and 23. 2026-07-31 16:45:52