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  • Choi Yoon-bum of Korea Zinc: South Korea and Chile as Key Mineral and Clean Energy Partners
    Choi Yoon-bum of Korea Zinc: South Korea and Chile as Key Mineral and Clean Energy Partners Choi Yoon-bum, chairman of Korea Zinc, emphasized the need for cooperation between South Korea and Chile in the key mineral supply chain and clean energy sectors during the 'Korea-Chile Business Roundtable' held in conjunction with President Lee Jae-myung's visit to Chile.On July 31, Korea Zinc reported that Choi stated, "If South Korea and Chile join forces, we can create the most exemplary cooperation model that leads the carbon-neutral era beyond a stable key mineral supply chain."He added, "Chile is not only a global powerhouse in mineral resources but is also emerging as a leader in global green energy, thanks to its abundant solar and wind resources. I am honored to participate in this meaningful discussion on future cooperation between South Korea and Chile."Choi also highlighted the significant impact of Chile's solar industry on the development of Korea Zinc's eco-friendly energy initiatives. He recounted how, during his tenure as president of the Australian zinc smelter SMC, he learned from an article in The Economist about Chile's large-scale solar power achieving world-class price competitiveness amid rising electricity costs.He noted, "Today, Chile is one of the few countries in the world that possesses both key minerals and clean energy. South Korea has world-class manufacturing technology and capabilities in smelting, battery, and hydrogen industries."Choi expressed Korea Zinc's commitment to leading the establishment of a key mineral supply chain centered around South Korea, stating, "We aim to expand our cooperation with Chile not only in key minerals but also across the future energy sectors, including BESS and green hydrogen. The future that South Korea and Chile will create together will be a new partnership that goes beyond mere resource cooperation to sustainable growth and the clean energy era."A representative from Korea Zinc remarked, "Chairman Choi, drawing on his experience leading Korea Zinc's transition to eco-friendly energy inspired by Chile's solar power success, has outlined the direction for economic cooperation between South Korea and Chile. Korea Zinc will actively seek business collaboration opportunities utilizing its key mineral smelting technology from the Onsan smelter and its accumulated capabilities in renewable energy, BESS, and green hydrogen in Australia."Meanwhile, the Korea-Chile Business Roundtable, held in Santiago, Chile, was organized by the Ministry of Trade, Industry and Energy and the Chilean Ministry of Foreign Affairs, with the Korea Chamber of Commerce and Industry and the Chilean Industrial Association (SOFOFA) overseeing the event. President Lee and key figures from both governments and the business sectors attended to discuss agendas including key minerals, advanced industries, digital technology, green energy, and trade expansion.Additionally, Korea Zinc has decided to hold an extraordinary shareholders' meeting on September 9 to elect one separate audit committee member and four independent directors.* This article has been translated by AI. 2026-07-31 15:56:00
  • Controversy Erupts Over Apartments Delivery Protocols in Busan
    Controversy Erupts Over Apartment's Delivery Protocols in Busan A Busan apartment complex has sparked controversy online after requiring delivery drivers to remove their helmets and provide personal information. Delivery drivers have criticized some apartments for imposing excessive entry procedures, coining the term 'Cheonryongin Apartment' to describe them.The issue began when a delivery driver, identified as A, posted a video on his YouTube channel on July 21, showing the delivery process at the apartment. The two-minute video features A explaining the entry procedures to a staff member and the customer.According to the video, A arrived at the apartment to deliver food but was informed that he needed to remove his helmet and write down his personal information in a logbook at the first floor.A questioned the necessity of providing personal information and the requirement to remove his helmet, but the staff member insisted that he could not enter the building without following the established procedures.A requested to speak with the customer, but when the staff member did not facilitate the call, he stepped outside to contact the customer. He explained the situation and indicated that he would leave the food at the first-floor desk.The customer reportedly responded, "Aren't you supposed to bring it up? Other apartments do the same. If that's the case, don't charge me for delivery. I will contact the delivery platform." Ultimately, A left the food at the desk and departed.Following the incident, the delivery platform's customer service contacted A to confirm whether the delivery was completed. After A explained the situation, the platform decided not to deduct the delivery fee.As the video circulated online, many criticized the apartment's entry procedures as excessive. Internet users expressed that it was unreasonable to require both helmet removal and personal information from someone who was clearly there to deliver food.Some commenters remarked, "It feels like delivery drivers are treated as potential criminals," and suggested that if residents were that concerned about outsiders, they should come down to receive their deliveries themselves. Others argued that if such stringent procedures were necessary, delivery drivers should be compensated with additional fees.Since delivery work is time-sensitive, many pointed out that lengthy entry procedures could directly harm drivers' earnings. Comments included, "The time spent having delivery drivers fill out logs and arguing with staff counts as work time," and "If I have to park my motorcycle at the front and walk far to the delivery location, it takes too long to complete a single delivery," adding that the conditions were not feasible under standard delivery fees.In fact, delivery drivers have created a so-called 'Cheonryongin Apartment Map' to share information about complexes with strict entry procedures. This map reportedly includes around 50 high-end apartment complexes across the country, including those in Seoul's Gangnam district.The term 'Cheonryongin Apartment' is derived from a popular manga, 'One Piece,' referring to a privileged class, and is used to mock apartments that impose stricter procedures on delivery drivers than on regular visitors.The inconveniences faced by delivery drivers extend beyond just providing personal information. Some apartments reportedly prevent motorcycles from entering the complex, forcing drivers to walk from the entrance to the delivery location, or require them to use freight elevators instead of regular ones.There are also claims that some complexes require drivers to leave their identification or motorcycle keys at a storage area. Delivery drivers argue that when they are subjected to different procedures than regular visitors, it feels like discrimination based on their profession.Testimonies from internet users who have experience as delivery drivers echoed these frustrations. Some stated, "I refuse to accept orders from apartments with overly complicated entry procedures from the start," and "It takes a significant amount of time just to walk from the entrance to the delivery location," while others expressed discomfort at having to leave their identification or keys behind.Conversely, some argue that the apartment's security measures should not be dismissed as mere 'bullying.' They contend that in large complexes with frequent outsider visits, it is necessary to verify visitors' identities to prevent crime or theft.Some commenters noted, "A minimum identity verification for resident safety is necessary," and pointed out that a helmet may obscure a delivery driver's face. They argued that if the same procedures apply to all external visitors, it would not be considered discrimination.Residents with young children or those living alone may feel uneasy about unidentified individuals freely accessing common areas and elevators.However, many internet users agreed that even if security procedures are necessary, the scope of personal information collected and how it is stored should be clearly explained. They argued that if visitors are asked for their names and phone numbers without being informed of the purpose of collection or when the information will be discarded, it is natural for them to feel uneasy.Ultimately, this controversy highlights a clash between resident safety and the labor rights and privacy of delivery drivers. While security cannot justify all demands, it is also difficult to label all entry procedures as unilateral bullying.Experts and internet users suggest that entry standards should be standardized across apartments, with only essential information being verified. There is a growing call for common standards that both residents using delivery services and drivers delivering food can agree upon.Meanwhile, the specifics of this incident have been revealed through A's video and media reports. As the official stance of the apartment complex and all conversations that took place on-site have not been made public, there are calls to refrain from indiscriminate doxxing or accusations against specific complexes or individuals.* This article has been translated by AI. 2026-07-31 15:52:10
  • KOSPI Surges Over 17% on Strong U.S. Tech Earnings and Semiconductor Stocks
    KOSPI Surges Over 17% on Strong U.S. Tech Earnings and Semiconductor Stocks The KOSPI index closed up more than 17% on the back of strong earnings from major U.S. tech companies and expectations for increased investment in artificial intelligence (AI). Foreign investors made net purchases exceeding 8 trillion won, focusing on semiconductor stocks, prompting a simultaneous buy-side activation in both the securities and KOSDAQ markets early in the session.On July 31, the Korea Exchange reported that the KOSPI finished at 6,595.45, up 1,001.89 points (17.91%) from the previous trading day. The index opened 64.23 points (1.15%) higher at 5,657.79 and quickly expanded its gains, reaching as high as 6,554.34 during the day.Overnight, the New York stock market rose sharply as the June Personal Consumption Expenditures (PCE) price index met market expectations, buoyed by strong earnings from Microsoft and optimistic forecasts for Amazon. Semiconductor stocks surged, with Micron up 18.4% and SanDisk up 26.0%, helping to restore investor sentiment that had been dampened recently.As the early surge continued, buy-side activations were triggered in both the securities and KOSDAQ markets. The strong buying trend persisted as foreign investments flowed in.In the securities market, foreign and institutional investors made net purchases of 8.6355 trillion won and 1.6774 trillion won, respectively, while individual investors sold off 10.5017 trillion won.Among the top market capitalization stocks, Samsung Electronics rose 26.81%, SK Hynix 29.95%, SK Square 29.91%, Samsung Electro-Mechanics 29.92%, Hyundai Motor 10.54%, LG Energy Solution 2.50%, Samsung Life Insurance 17.99%, KB Financial 0.66%, and Samsung C&T 19.56%, all closing higher.The KOSDAQ index also saw significant gains, closing at 719.76, up 74.98 points (11.63%).In the KOSDAQ market, foreign and institutional investors made net purchases of 250.3 billion won and 304.2 billion won, while individual investors sold 555.8 billion won.Among the top KOSDAQ stocks, Alteogen rose 10.38%, EcoPro 12.04%, EcoPro BM 7.25%, Rainbow Robotics 16.09%, JUSUNG Engineering 26.65%, Rino Technology 16.12%, Wonik IPS 27.92%, HLB 2.17%, PSK 27.81%, and ABL Bio 9.87%, all closing higher.Lee Kyung-min, a researcher at Daishin Securities, noted, "Following Microsoft, Amazon has also indicated strong performance in its cloud business and plans to increase capital expenditures, significantly easing concerns about the AI investment cycle. The perception that the global deleveraging that had recently pressured semiconductor and AI-related stocks is nearing its end has also contributed to the recovery in investor sentiment."He added, "Foreign capital has flowed significantly into semiconductor and AI value chains, which had seen excessive declines recently. While volatility due to the recent surge is inevitable, the ongoing expansion of AI investments and expectations for improved earnings suggest that the recovery in investor sentiment may continue."* This article has been translated by AI. 2026-07-31 15:52:00
  • Ruling Party Election Commission Issues Warning to Jeong Cheong-rae and Supporters
    Ruling Party Election Commission Issues Warning to Jeong Cheong-rae and Supporters The Democratic Party's Election Commission has reportedly issued a warning and corrective order to Jeong Cheong-rae, a candidate for party leader, and candidates from his faction participating in the August 17 convention, citing election misconduct.According to the party on July 31, the commission reported its findings to the Supreme Council, determining that Jeong and Supreme Council candidates Lee Sung-yoon, Choi Min-hee, and Han Min-soo violated party regulations by attending unauthorized meetings.Additionally, the commission has requested the party's ethics committee to impose severe penalties, including suspension of duties, on Lee Jae-young, the head of the Democratic Research Institute, for violating neutrality obligations. Lee had hosted a meeting with Jeong and other candidates from his faction on July 25 in his constituency in Yangsan, Gyeongnam.However, party rules explicitly state that heads of policy research institutes cannot engage in election activities, and that 'central party staff and other individuals required to maintain neutrality must not exert undue influence on the primary or engage in actions that affect the primary results,' raising concerns over the violation of neutrality obligations. 2026-07-31 15:48:00
  • Hanon Systems Reports 61% Increase in Q2 Operating Profit
    Hanon Systems Reports 61% Increase in Q2 Operating Profit Automotive thermal management solutions provider Hanon Systems has reported improved performance in the second quarter, driven by increased sales of electrification components in Europe.On July 31, Hanon Systems announced that its consolidated operating profit for the second quarter reached 103.7 billion won, a 61.2% increase compared to the same period last year. Revenue rose by 0.6% to 2.8752 trillion won, while net profit turned positive at 86.1 billion won.The performance improvement is attributed to a combination of favorable exchange rates, expanded supply of electrification components primarily to European automakers, and operational efficiencies resulting from global restructuring. The electrification segment accounted for 31% of total sales, bolstered by increased volumes in Europe.Lee Soo-il, CEO of Hanon Systems, stated, "Despite global cost pressures, we have laid the groundwork for performance recovery through company-wide operational efficiencies and structural improvements. We will actively pursue various new businesses based on our automotive thermal management technology to ensure sustainable growth."* This article has been translated by AI. 2026-07-31 15:48:00
  • Coupang ordered to compensate consumers for data leak
    Coupang ordered to compensate consumers for data leak SEOUL, July 31 (AJP) - South Korea's consumer watchdog on Friday ordered e-commerce giant Coupang to compensate victims of last year's massive data breach, marking the first decision to recognize the company's liability for damages resulting from the leak. The Consumer Dispute Settlement Commission under the Korea Consumer Agency said Coupang should pay 100,000 won (US$70) in compensation to each of the 50 consumers who filed a collective action in December last year over the breach, which exposed the sensitive personal information of tens of millions of users. They may choose to receive the compensation in cash or as a voucher that can be used on Coupang's website or mobile app. The commission said the breach exposed not only users' personal information including their names, email addresses and home addresses, but also highly sensitive data closely linked to their private lives such as order histories. It added that a hacker had stolen personal data over an extended period and that there was a risk the information could be misused, citing disguised emails sent to some customers in connection with the leak. Coupang argued that it had retrieved the device used in the breach and that there was no risk of further damage. However, the commission said it was difficult to say that the possibility of additional leaks had been completely ruled out. It also found that Coupang should compensate users for emotional distress caused by the breach. The commission said the amount was set at 100,000 won, taking into account the level of compensation courts have typically recognized in large-scale data leak cases and the sensitivity of the leaked information. It also considered the fact that Coupang had not disclosed how many affected users had actually used the 50,000-won shopping vouchers it issued in January as compensation. Coupang must notify the commission within 15 days of receiving the written decision whether it will accept Friday's decision. If it does not respond within the period, it will be considered to have accepted it. The commission will also take follow-up measures including requiring a compensation plan to ensure that the same payments are made to those who did not join the class action. Coupang suffered a massive data breach in November last year, in which about 37.56 million cases of personal information were leaked. The government last month imposed a record fine of 62.47 million won, along with an additional penalty of 16.8 million won. 2026-07-31 15:47:29
  • Celltrion Expands Direct Sales in Italy, Targeting Market with Omniclo
    Celltrion Expands Direct Sales in Italy, Targeting Market with Omniclo Celltrion is strengthening its presence in the European market by expanding the sales of its biosimilars in Italy. The company is accelerating its market share growth with key products, including 'Omniclo' (ingredient name: omalizumab), which was launched last year.On July 31, Celltrion announced that the sales of Omniclo, a treatment for chronic spontaneous urticaria and allergic asthma launched in Italy at the end of last year, are continuing to expand.Celltrion's Italian subsidiary is currently selling Omniclo in 15 regions. Among these, seven regional governments have signed contracts exclusively with Celltrion as a supplier of omalizumab.The company explained that in some areas, the sales volume of Omniclo from January to May this year surpassed the total prescriptions of omalizumab during the same period last year.Celltrion also reported that its autoimmune disease treatments, 'Stekima' (ingredient name: ustekinumab) and 'Aptozma' (ingredient name: tocilizumab), launched in Italy last year, are being sold in several regions.Additionally, the autoimmune treatment 'Uplima' (ingredient name: adalimumab) and the anticancer drug 'Vegzelma' (ingredient name: bevacizumab) recorded market shares of 46% and 66%, respectively, in the Italian market during the first quarter of this year, continuing their growth trend.Celltrion plans to promote its market share expansion in Europe by focusing on Omniclo, Aptozma, and the Remsima product line.Yoo Won-sik, head of Celltrion's Italian subsidiary, stated, "New products, including Omniclo, have achieved significant bidding results in key regions. We will strengthen the presence of new biosimilars through participation in bids and expansion of supply areas in the second half of the year."Meanwhile, Celltrion reported a consolidated revenue of 1.3937 trillion won and an operating profit of 451.8 billion won for the second quarter, driven by the sales expansion of high-margin new products.* This article has been translated by AI. 2026-07-31 15:44:00
  • Chip stock swings push Koreas FX turnover to record on hedging demand
    Chip stock swings push Korea's FX turnover to record on hedging demand SEOUL, July 31 (AJP) - The same forces driving wild swings in South Korea's semiconductor stocks are now reshaping the country's foreign-exchange market. As AI-fueled volatility draws record foreign participation in Seoul's equity market, demand for currency hedging has pushed daily foreign-exchange turnover to an all-time high, a trend highlighted Friday when unprecedented overseas buying of Korean shares generated heavy FX trading but only a muted immediate rally in the won. The average daily value of spot and foreign-exchange derivatives transactions reached a record $121.44 billion in the April-June quarter, up 18.3 percent from $102.65 billion in the previous quarter, according to the Bank of Korea. The figure surpassed the previous record set only three months earlier and marked the highest level since the central bank began compiling the quarterly data in 2008. "The increase reflected a rise in foreign investors' purchases and sales of Korean-listed stocks and bonds, along with increased demand to hedge against fluctuations in the won," a BOK official said. Friday's trading provided a vivid example of that relationship. Foreign investors poured more than 7 trillion won into KOSPI shares — the largest single-day net purchase on record — while buying another 1.7 trillion won on the KOSDAQ as Samsung Electronics and SK hynix staged historic rallies after stronger-than-expected earnings from Microsoft and Amazon revived confidence in global AI infrastructure spending. Despite the record equity inflows, the won's gains were comparatively restrained. As of 3:30 p.m., the dollar traded at 1,425.9 won, strengthening from around 1,434 won earlier in the session but failing to mirror the magnitude of the stock-market surge. Foreign purchases of equities do not immediately translate into demand for won because stock trades settle several days after execution, delaying the accompanying currency conversion, a BOK official said. Dealers also cited importer demand for dollars as the won strengthened earlier in the day, while a modest weakening of the Japanese yen after the Bank of Japan kept interest rates unchanged and a rebound in the U.S. dollar index toward the 100 level also weighed on the Korean currency. The BOK's data suggest that heightened stock-market volatility is increasingly spilling over into currency markets through greater hedging activity. Spot transactions led the increase, climbing 27.7 percent from the previous quarter to a daily average of $54.11 billion. Won-dollar spot trading rose 31.4 percent to $43.74 billion, accounting for most of the increase. Trading involving non-residents jumped 41.1 percent to $17.76 billion, significantly outpacing a 23.6 percent increase in interbank transactions and an 18.3 percent rise in trades with domestic customers. Foreign-exchange derivatives also remained active, with daily turnover rising 11.7 percent to $67.32 billion. Forward transactions climbed 21.6 percent to $23.03 billion, led by non-deliverable forwards (NDFs), whose turnover increased 21.2 percent to $18.84 billion. The rise in NDF trading indicates stronger demand among offshore investors and financial institutions to hedge or adjust exposure to the Korean won without exchanging the underlying currencies at settlement. Foreign-exchange swaps, the largest segment of Korea's derivatives market, increased 7.5 percent to $42.03 billion, while currency swaps edged down 2.1 percent to $1.89 billion. By institution, turnover at domestic banks rose 20.1 percent to $55.51 billion a day, while Korean branches of foreign banks handled $65.93 billion, up 16.8 percent from the previous quarter. The central bank noted that the figures measure the combined value of purchases and sales rather than net capital flows, meaning the record reflects heightened trading activity and hedging demand rather than the direction of cross-border capital movement. 2026-07-31 15:41:53
  • Kang Dong-won, Park Ji-hyun, and Eom Tae-goos Wild Thing Released on Netflix Today
    Kang Dong-won, Park Ji-hyun, and Eom Tae-goo's 'Wild Thing' Released on Netflix Today The film 'Wild Thing' is now available to audiences worldwide through Netflix.Netflix released 'Wild Thing' on July 31. The film is a comedy about a mixed-gender dance group called Triangle, which once dominated the music scene but disbanded overnight due to an unexpected incident. The story follows their reckless challenge to seize a chance at revival 20 years later.'Wild Thing' premiered in theaters in June, featuring a storyline centered around a 2000s mixed-gender dance group, Y2K-inspired music, and comedic performances by the cast.Kang Dong-won, Eom Tae-goo, and Park Ji-hyun star as members of Triangle. Oh Jung-se plays the ill-fated ballad singer Seong-gon. The characters, each with distinct personalities, contribute to the film's comedic elements.The music and performances in the film are also key highlights. Triangle's debut song 'Love is' and Seong-gon's confession song 'I Like You' were produced by a team specializing in K-pop.'Wild Thing' is a collaboration between About Film, the production company behind the hit film 'Extreme Job,' and director Son Jae-gon, known for 'Not a Bad Day.' The film is now streaming on Netflix.* This article has been translated by AI. 2026-07-31 15:40:00
  • Hanwha Aerospace Surpasses 1 Trillion Won in Quarterly Operating Profit
    Hanwha Aerospace Surpasses 1 Trillion Won in Quarterly Operating Profit Hanwha Aerospace has entered a new era with quarterly operating profit surpassing 1 trillion won, driven by major export projects in Poland and other countries. The impact of a fire at its Daejeon factory on its performance has been limited.On July 31, Hanwha Aerospace reported consolidated sales of 9.2929 trillion won and operating profit of 1.3655 trillion won for the second quarter of this year. This marks a 47.2% increase in sales and a 58.5% increase in operating profit compared to the same period last year.Notably, this is the first time the company has exceeded 1 trillion won in quarterly operating profit. The stable growth of its core ground defense sector, along with improved performance from subsidiaries Hanwha Ocean and Hanwha Systems, contributed to this achievement.The ground defense sector recorded sales of 2.0175 trillion won and operating profit of 533 billion won, reflecting increases of 19% and 2%, respectively, from the previous year. In South Korea, major production projects such as the wheeled anti-aircraft gun Cheonho and the Cheonmu multiple rocket launcher are progressing steadily, while exports to Poland, Egypt, and the Middle East are on track to meet expectations.The aerospace sector achieved sales of 760 billion won and operating profit of 37 billion won, with sales increasing by 17% year-on-year due to a rise in military orders, resulting in a return to profitability.A Hanwha Aerospace official stated, "This year, we plan to deliver 30 K9 self-propelled howitzers and over 40 Cheonmu multiple rocket launchers to Poland. We expect to maintain strong performance in the second half of the year with deliveries to Poland, Egypt, and Australia." Concerns regarding the impact of the Daejeon factory fire on performance were found to be limited. The official noted, "The incident at the Daejeon factory did not significantly affect our second-quarter results, but some sales were deferred due to the production halt. We are working to normalize production." The order backlog for ground defense stands at approximately 38.3 trillion won, reflecting additional exports of K9 self-propelled howitzers to Finland in April and a supply contract for Cheonmu multiple rocket launchers to Estonia in May. The new orders for the second quarter are estimated at 1.5 trillion won.Subsidiaries also reported strong performances, supporting the overall results of the group. Hanwha Ocean recorded sales of 5.4432 trillion won and operating profit of 736.1 billion won, driven by high-profit projects such as LNG carriers, marking increases of 65% in sales and 98% in operating profit compared to the previous year. Hanwha Systems achieved record results with sales of 1.1176 trillion won and operating profit of 103.7 billion won, bolstered by increased exports of defense products, including multifunction radars (MFR).On the same day, Hanwha Aerospace reiterated that its recent investment in Korea Aerospace Industries (KAI) is a strategic move to enhance synergies in the defense and aerospace sectors. As of July 24, Hanwha Group's stake in KAI has increased to 14.64%. However, the company clarified that there are no plans for additional share purchases to secure management control.The official stated, "Acquiring approximately 15% of KAI shares with Hanwha Systems is a strategic investment aimed at establishing a collaborative framework in key defense and aerospace sectors. We are not currently in discussions with other shareholders, such as the Export-Import Bank, regarding additional share acquisitions." * This article has been translated by AI. 2026-07-31 15:32:00