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  • NH Nonghyup Financial to Launch Local Finance Project in Second Half of 2026
    NH Nonghyup Financial to Launch Local Finance Project in Second Half of 2026 NH Nonghyup Financial Group held its third meeting of the 'Productive and Inclusive Finance Special Committee' on July 30, reviewing plans to expand local-focused productive and inclusive finance in the second half of 2026.About 50 executives and department heads from all subsidiaries of Nonghyup Financial attended the meeting, chaired by Chairman Lee Chan-woo. The committee selected the 'Local Finance Project' as the fourth initiative under NH Productive Finance and resolved to expedite its implementation.In the first half of 2026, Nonghyup Financial supplied 11.9 trillion won in productive finance and 2.1 trillion won in inclusive finance, achieving a progress rate exceeding 70% based on internal management standards. Key achievements in the inclusive finance sector included the launch of loan products for vulnerable groups, the establishment of a preferential interest rate system for NH Inclusive Finance, the cancellation and reduction of overdue debts totaling 9.276 trillion won across the entire Nonghyup system, and the provision of free compensation insurance for voice phishing victims.In the productive finance sector, highlights included the opening of the Southeast Region 'Comprehensive Support Center for Marine, Aviation, and Defense Industries,' the joint establishment of the NH Co-Prosperity Growth Fund with 500 billion won, and the selection of a project for the National Growth Fund related to AI data center development.For the second half of the year, key initiatives include the establishment of the 'NH Miso Finance Foundation' (tentative name), support for village enterprises through special contributions to local credit guarantee funds, plans for IMA issuance, expansion of venture capital and agricultural investment funds, support for specialized industries through the 'NH Financial Hub' in Jeonbuk, and the creation of follow-up funds for the NH Co-Prosperity Growth Fund. Attention is focused on whether the local finance project in the second half will lead to tangible economic recovery in the region.Chairman Lee Chan-woo emphasized, "Nonghyup Financial, being more community-friendly than other financial institutions, must expand productive and inclusive finance that the public and businesses can truly feel. All employees of Nonghyup Financial should play a leading role in revitalizing the local economy."* This article has been translated by AI. 2026-07-31 12:12:00
  • North Koreas Economy Grows 3.5% in 2025, Boosted by North-Russia Cooperation
    North Korea's Economy Grows 3.5% in 2025, Boosted by North-Russia Cooperation North Korea's economy grew by 3.5% last year, marking three consecutive years of growth above 3%. The expansion was driven by increased economic cooperation with Russia.According to a report released by the Bank of Korea on July 31, the country's real gross domestic product (GDP) reached 38.264 trillion won, a 3.5% increase from the previous year.North Korea's economy had experienced three consecutive years of negative growth from 2020 before returning to an upward trend in 2023, with growth rates of 3.1% in 2023 and 3.7% in 2024, resulting in three years of growth above 3%.The Bank of Korea stated, "The expansion of North-Russia economic cooperation, increased trade with China, and the implementation of national policy projects have contributed to sustained growth above 3% for three consecutive years."Seo Jeong-seok, head of the Bank of Korea's National Income Division, noted, "Externally, the expansion of North-Russia economic cooperation and increased trade with China have driven growth. The increase in arms exports has boosted production in manufacturing and related industries, while the expansion of transportation networks has also contributed to growth in the tourism and hospitality sectors." He added, "The dispatch of personnel to Russia and the inflow of foreign currency from deployments have also impacted the increase in national income."Internally, the effects of national policy projects have been significant. The construction of local light industrial factories under North Korea's '20x10 Local Development Policy' has led to increased investment in light industry, resulting in higher production and exports of consumer goods.Last year, North Korea's economic growth was sustained in sectors such as manufacturing and construction, while agriculture and forestry transitioned to growth, although mining saw a slowdown in its growth rate.In manufacturing, heavy and chemical industries grew by 7.8%, while light industries increased by 3.8%, reaching their highest levels since 2022. Agriculture and forestry grew by 3.6%, primarily driven by cultivation. The construction sector saw a 6.3% increase due to growth in non-residential building and civil engineering projects.Mining, however, only increased by 1.6%, marking its lowest growth rate since 2021. The service sector grew by 1.8%, led by transportation, communications, retail, and hospitality, achieving its highest growth rate since 1994.In terms of industrial structure relative to nominal GDP, the shares of agriculture and forestry (20.9% to 21.2%) and electricity, gas, and water supply (7.2% to 7.4%) increased, while the shares of mining (30.5% to 30.1%) and services (29.8% to 29.6%) decreased.Last year, North Korea's gross national income (GNI) was 48.5 trillion won, approximately 1/56th of South Korea's GNI of 2,717.1 trillion won, accounting for only 1.8%. Per capita GNI was 1.873 million won, a 9.0% increase from the previous year, but only 1/28th (3.6%) of South Korea's per capita income of 52.57 million won.The total volume of external trade (excluding inter-Korean trade) was $3.13 billion, a 16.0% increase from the previous year’s $2.7 billion. Exports, amounting to $470 million, rose by 30.0%, driven by products such as processed seafood, wigs, toys, and sports equipment. Imports totaled $2.66 billion, a 13.9% increase, primarily in clothing and vegetable oils.There was no inter-Korean trade last year. The inter-Korean trade volume, which reached $332.6 million in 2016, sharply declined after the closure of the Kaesong Industrial Complex that year, dropping to $3.9 million in 2020, $1.1 million in 2021, and $100,000 in 2022, with no recorded trade since 2023.* This article has been translated by AI. 2026-07-31 12:00:20
  • Average Daily Foreign Exchange Trading Reaches Record $121.4 Billion in Q2
    Average Daily Foreign Exchange Trading Reaches Record $121.4 Billion in Q2 In the second quarter of this year, increased exchange rate volatility led to a record average daily foreign exchange trading volume.According to the Bank of Korea's report on foreign exchange trading trends for the second quarter, the average daily trading volume (spot and foreign exchange derivatives) reached $121.44 billion, an increase of $18.79 billion (18.3%) from the previous quarter. This marks the highest level since statistics began being compiled in 2008.The Bank of Korea attributed this surge to increased foreign investment in domestic securities and ongoing demand for hedging due to exchange rate volatility. The trading volume of foreign investors in domestic securities rose from 475 trillion won in the fourth quarter of last year to 855 trillion won in the first quarter of this year, reaching 1,048 trillion won in just April and May.The volatility of the won-dollar exchange rate also remained high, increasing from 0.37% in the fourth quarter of last year to 0.60% in the first quarter and 0.52% in the second quarter of this year.By product, the average daily spot trading volume increased by 27.7% to $54.11 billion. Among these, won-dollar transactions rose by 31.4% from the previous quarter, totaling $43.74 billion.In terms of counterparties for spot trading, interbank transactions amounted to $25.76 billion, while transactions with non-residents reached $17.76 billion, reflecting increases of 23.6% and 41.1%, respectively. Transactions with domestic customers also rose by 18.3% to $10.51 billion.The trading volume of foreign exchange derivatives increased by 11.7% to $67.32 billion, with forward transactions amounting to $23.03 billion, primarily driven by non-deliverable forward (NDF) trading, which rose by 21.6% from the previous quarter.By bank, domestic banks recorded a foreign exchange trading volume of $55.51 billion, while foreign bank branches reported a volume of $65.93 billion, reflecting increases of 20.1% and 16.8%, respectively.* This article has been translated by AI. 2026-07-31 12:00:20
  • Lee Jae-myung Arrives in Argentina for First Presidential Visit in 22 Years
    Lee Jae-myung Arrives in Argentina for First Presidential Visit in 22 Years President Lee Jae-myung arrived at Ezeiza International Airport in Buenos Aires, Argentina, on July 30, beginning a three-day official visit.This marks the first official visit by a South Korean president to Argentina in 22 years, since former President Roh Moo-hyun in 2004. Argentina is the final stop in President Lee's South American tour, which included visits to San Francisco, Brazil, and Chile.President Lee and First Lady Kim Hye-kyung landed at the airport around 11 p.m. local time.On July 31, President Lee will hold a summit with Argentine President Javier Milei to discuss ways to enhance bilateral relations and practical cooperation in economic security.Argentina is the world's fourth-largest lithium producer and possesses abundant energy and food resources, including shale gas and agricultural products. The South Korean government aims to establish a critical mineral supply chain by linking Argentina's resources with South Korea's battery and advanced manufacturing technologies for lithium exploration, development, processing, and utilization.Another key agenda item for the summit is the resumption of trade agreement negotiations between South Korea and Mercosur, of which Argentina is a member along with Brazil, Uruguay, and Paraguay.Following the summit, President Lee will meet with Buenos Aires Mayor Jorge Macri, where he is expected to request support from the city government for the approximately 23,000-member Korean community in Argentina, the second largest in South America.President Lee will then hold a dinner meeting with local Koreans to encourage their integration and activities while listening to their concerns about living in Argentina.After concluding his schedule in Argentina, President Lee will travel to Frankfurt, Germany, on August 1, where he will meet with local Koreans before returning to South Korea.* This article has been translated by AI. 2026-07-31 11:48:00
  • Fasoo AI Reports 22.7% Revenue Growth in Q2, Achieves Profitability
    Fasoo AI Reports 22.7% Revenue Growth in Q2, Achieves Profitability Fasoo AI has successfully turned a profit in the second quarter of this year, driven by the expansion of its artificial intelligence (AI) business and increased demand for data protection and software (SW) supply chain security.In a disclosure on July 31, Fasoo AI reported consolidated revenue of 13.128 billion won and an operating profit of 1.06 billion won for the second quarter. This represents a 22.7% increase in revenue compared to the same period last year, and a turnaround from an operating loss of 939 million won in the second quarter of last year. The company also reported a net profit for the period.For the first half of the year, cumulative revenue reached 22.133 billion won, up 15.7% from the previous year. During the same period, the cumulative operating loss was 1.011 billion won.Fasoo AI attributed its improved performance to the ongoing expansion of its AI transformation (AX) platform and related AI initiatives. The rise in cyberattacks has heightened the demand for data protection, particularly among key industries such as semiconductors, defense, and shipbuilding, which have seen increased revenue.Additionally, the growing importance of software bill of materials (SBOM) in supply chain security has positively impacted the business of its application security subsidiary, Sparrow.The company anticipates that the factors driving its first-half performance will continue into the second half. With a significant increase in its order backlog compared to the previous year and the nature of its business, which sees revenue concentrated in the latter half of the year, Fasoo AI expects to achieve double-digit revenue growth for the full year.Efforts to enhance corporate and shareholder value are ongoing. Last June, Fasoo AI announced a 'Corporate Value Enhancement Plan' with a goal of achieving an average annual revenue growth rate of 20%, an operating profit margin of 25%, and a shareholder return rate of 30% by 2030.The company disclosed its decision to repurchase shares at the end of June 2026 and plans to continue strengthening its fundamentals while enhancing shareholder value.* This article has been translated by AI. 2026-07-31 11:44:00
  • Gachon University to Continue One Thousand Won Store Program for Students
    Gachon University to Continue 'One Thousand Won Store' Program for Students Gachon University is participating in the 'One Thousand Won Store' initiative in Gyeonggi Province for the second consecutive year, aiming to provide practical welfare support to alleviate students' living expenses.According to Gachon University on July 31, the 'One Thousand Won Store for College Students' will operate from September to December, coinciding with the start of the second semester, in collaboration with Gyeonggi Province, NH Nonghyup Bank, Hana Bank, the Gyeonggi Social Welfare Council, and the Gyeonggi Community Chest.The initiative offers food and essential living supplies in packages for 1,000 won, utilizing donations and sponsorships from businesses. It was first introduced by Gyeonggi Province last year to support college students facing increased economic burdens due to high prices, tuition fees, and housing costs.Gachon University participated as a pilot institution alongside Pyeongtaek University last year, serving approximately 13,000 students and demonstrating a high usage rate. This year, the program has expanded to include Ajou University, Yuhan University, Kyungbok University, and Nonghyup University, bringing the total to six participating universities in the province.The student council at Gachon University will manage the program this year, increasing the number of operations compared to last year and diversifying the offerings based on student preferences. Items will include ready-to-eat meals, ramen, home meal replacements (HMR), side dishes, frozen foods, and health and beauty products.This is aimed at improving the operational method so that more students can experience tangible reductions in their living expenses.Park Jun-ki, president of the student council, stated, "We have actively reflected students' opinions by expanding the variety of items and the frequency of operations. We will run this as a welfare program closely aligned with students' needs, allowing more students to use it without financial burden."Students who used the store last year expressed their appreciation, saying, "Living alone, food expenses are a significant burden, but the One Thousand Won Store helped me save on living costs," and "I was able to buy essential items like ready-to-eat meals and frozen foods at a low price. I hope the frequency of operations increases and that this welfare initiative continues every semester."Community voices have positively evaluated the expansion of the program, recognizing it as a policy that alleviates the economic burden on college students.Gyeonggi Province expects that expanding the number of participating universities will allow more students to benefit from the initiative.Meanwhile, Lee Gil-yeo, the university president, remarked, "The One Thousand Won Store is a practical welfare initiative that reduces students' living expenses. We will continue to collaborate with the community and relevant organizations to expand welfare policies that students can feel and create a stable educational environment." 2026-07-31 11:44:00
  • Arrival of new US envoy presents fresh test for alliance
    Arrival of new US envoy presents fresh test for alliance SEOUL, July 31 (AJP) - The arrival of a new U.S. ambassador to South Korea would, under ordinary circumstances, have been a routine moment in the long history of the bilateral relationship. He or she would present credentials, offer familiar words about friendship and cooperation, and begin the quiet work of diplomacy. But these may not be ordinary circumstances. Michael Steel's arrival on Thursday has drawn unusual attention here, not so much because she is another Korean-American envoy to serve in the role after Sung Kim, who held the position from 2011 to 2014, but because the bilateral relationship is facing an unusually complicated moment. In her first message upon arrival, Steel deliberately described the alliance between the two countries as one of the world's strongest, built through sacrifice, trust, and decades of cooperation. She also called on both countries to write the "next chapter" of the partnership, emphasizing the need to remain focused on practical results. That message reflects a basic reality of diplomacy. Even the closest allies do not survive on history alone as they endure because they continually find ways to manage differences. The timing of Steel's appointment is significant. She is the first U.S. ambassador to Seoul since President Donald Trump returned to the White House for his non-consecutive second term early last year, and her arrival comes as the two countries navigate a difficult set of issues. Economic disputes, questions over investment commitments, industrial policy, and security cooperation have all become sources of friction. Yet beneath the language of shared values and enduring friendship lie growing disagreements over defense, trade, investment, and the broader direction of regional strategy. The real challenge is not whether disagreements exist, as every alliance has them. What matters is whether these disagreements are handled diplomatically and constructively or allowed to turn into public signs of distrust. Steel arrives with a background that will inevitably shape how she is perceived in Seoul. As a Korean American and the daughter of immigrants, she represents a personal connection between the two societies. Her family story reflects one shared by many Korean Americans: a journey of migration, hardship, and a dedication to serving the public. At the same time, her political record has drawn some mixed reactions here. During her time in Congress, Steel took a firm stance on North Korea and expressed skepticism toward approaches she viewed as making too many concessions to Pyongyang, placing greater emphasis on deterrence and pressure while remaining cautious about engagement. Steele's stance may put her at odds with those who support the current South Korean administration's push for rapprochement with North Korea. But ambassadors cannot be expected to share every political view of the country where they serve. Their role is to represent their own government while also understanding the concerns and realities of the host country. Finding that balance will be one of Steel's main challenges. The most important question is not whether Seoul and Washington agree on every issue. They never have. The more important question is whether they still share a fundamental understanding of why the alliance matters. The security situation and political environment around the Korean Peninsula have become more difficult. North Korea's military arsenal continues to grow, China's influence is increasing, and rivalry among major powers is reshaping the regional landscape. In such a context, a weakened U.S.-South Korean alliance could create uncertainty beyond the two countries. Steel's reported access to Trump may give her strong influence in Washington. If that is the case, it could become an advantage for Seoul. A successful ambassador is not simply a messenger who carries instructions from one government to another. The best ambassadors help each side understand one another. Her appointment, therefore, should not be viewed only through the lens of political differences or disagreements. It is also an opportunity to test whether the alliance is strong enough to manage them while staying focused on its larger purpose. South Korea's longstanding alliance with the U.S., forged in war and strengthened through decades of cooperation, has endured for generations. Its future, however, will depend less on memories of the past than on the choices made today. Steel has taken up her post at a moment when diplomacy matters more than symbolism. Her success will not be measured by whether she avoids challenges during her time in Seoul. It will be measured by whether she leaves the alliance stronger, more stable, and better prepared for whatever comes next. 2026-07-31 11:36:08
  • KOSPI Surges Over 13% Amid Semiconductor Stock Rebound
    KOSPI Surges Over 13% Amid Semiconductor Stock Rebound The KOSPI index continues to soar, rising over 13% thanks to strong performances from major U.S. tech companies and a rebound in semiconductor investment sentiment. Foreign capital influx has led to a surge in bargain buying, particularly in semiconductor stocks, prompting buy sidecars to be activated in both the KOSPI and KOSDAQ markets.As of 11:28 a.m. on July 31, the KOSPI was up 781.11 points (13.96%) at 6,374.67. The KOSDAQ index also rose by 57.11 points (8.86%) to trade at 701.89.In the securities market, foreign and institutional investors have made net purchases of 82.8 billion won and 4.9 billion won, respectively, driving the index higher. In contrast, individual investors are net selling 89.3 billion won.Among the top market capitalization stocks, Samsung Electronics (up 19.08%), SK Hynix (up 23.07%), SK Square (up 28.29%), Samsung Electro-Mechanics (up 29.92%), Hyundai Motor (up 7.26%), LG Energy Solution (up 0.16%), Samsung Life Insurance (up 15.72%), KB Financial (up 0.24%), Samsung C&T (up 16.67%), and Kia (up 7.20%) all showed strong gains.In the KOSDAQ market, foreign and institutional investors have net purchased 1.745 billion won and 1.39 billion won, while individuals are net selling 3.11 billion won.Among the top KOSDAQ stocks, Alteogen (up 8.77%), EcoPro (up 12.18%), EcoPro BM (up 6.11%), Rainbow Robotics (up 12.06%), JUSUNG Engineering (up 23.30%), Rino Technology (up 11.05%), Wonik IPS (up 20.58%), and HLB (up 2.00%) are also experiencing upward trends.Jang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "The U.S. personal consumption expenditures (PCE) price index for June met expectations, and strong earnings from big tech companies like Microsoft and Amazon reaffirmed the trend of increased AI investment. The perception that the global semiconductor industry's deleveraging is nearing its end has led to a wave of bargain buying, particularly in memory and AI-related stocks."He added, "The recent sharp decline has brought the KOSPI valuation down to historical lows, attracting foreign buying that is lifting the index. However, caution is warranted regarding the potential for profit-taking following this short-term surge."* This article has been translated by AI. 2026-07-31 11:36:00
  • AI chip boom begins to warm South Koreas broader domestic front
    AI chip boom begins to warm South Korea's broader domestic front SEOUL, July 31 (AJP) - Red-hot chip demand, which earned South Korea's two chipmakers 150 trillion won ($108 billion) in combined second-quarter operating profit — equivalent to about 6 percent of the country's entire 2025 nominal GDP — is beginning to warm the broader domestic front, with the AI boom spilling from exports into factories, construction sites and household spending. The latest government data suggest the country's semiconductor-driven expansion is no longer confined to export earnings. It is increasingly feeding capital investment, machinery orders and consumer activity as chipmakers embark on one of the world's largest manufacturing buildouts. Industrial production rose 6.4 percent from May in June, reversing a 2.9 percent decline the previous month, according to the Ministry of Data and Statistics Friday. Manufacturing output climbed 6.8 percent from May, led by automobiles and semiconductors. Semiconductor production rose 4.5 percent as output of DRAM and NAND flash memory chips increased, while automobile production jumped 15.4 percent, pointing to a broadening industrial recovery. The strongest spillover appeared in corporate investment. Facility investment rose 5.8 percent from May and 21.7 percent from a year earlier as semiconductor companies accelerated capacity expansion to meet resilient global AI demand. Machinery investment increased 6.9 percent on the month and 22.2 percent from a year earlier, with semiconductor manufacturing equipment accounting for much of the annual gain. Domestic machinery orders, excluding ships, surged 52.1 percent from a year earlier in June, accelerating from a 24.0 percent increase in May. Private-sector orders climbed 56.5 percent, while manufacturing companies boosted orders 79.3 percent, underscoring the strength of the semiconductor investment cycle. Domestic machinery shipments also rose 13.5 percent from a year earlier, reinforcing signs that equipment demand within South Korea continued to strengthen. The investment wave is backed by unprecedented long-term spending plans from the country's two memory giants. Samsung Electronics has outlined 2,450 trillion won ($1.6 trillion) in domestic investment through 2040, including 2,100 trillion won across its Pyeongtaek and Yongin semiconductor clusters, 400 trillion won for fabs in Gwangju and 56 trillion won for high-bandwidth memory facilities in Cheonan and Onyang. SK hynix has announced a separate 1,100 trillion won investment framework, allocating 600 trillion won to Yongin, 100 trillion won to Cheongju and 400 trillion won to southwestern South Korea. Together, Samsung plans six new fabrication plants and SK hynix four, with completion schedules brought forward to 2033 from the original 2045 roadmap. SK hynix's first new fab could begin operations as early as next year. Each advanced fab is estimated to cost roughly $30 billion. The buildout is also reshaping South Korea's supply chain. Imports of manufactured goods rose 14.7 percent from a year earlier in the second quarter, while domestically produced manufactured supply fell 1.2 percent, lifting the import share of manufactured goods by 3.4 percentage points to 32.1 percent. The increase reflects growing imports of advanced semiconductor equipment and specialized components needed for AI-related capacity expansion. Broader indicators also pointed to improving domestic demand. Retail sales rose 2.7 percent from May, the strongest gain in five months, driven by higher purchases of passenger vehicles, communications devices and computers. Services output increased 0.7 percent, while construction completed rose 4.1 percent from the previous month. The recovery, however, remains uneven. Construction orders fell 28.1 percent from a year earlier in June, while construction completed remained 4.0 percent below year-earlier levels despite the monthly rebound. 2026-07-31 11:35:00
  • Customs Agency Seizes 2.1 Tons of Drugs in Asia-Pacific Operation
    Customs Agency Seizes 2.1 Tons of Drugs in Asia-Pacific Operation The Customs Agency has seized 2.1 tons of drugs in a joint operation with customs authorities from 19 Asia-Pacific countries.On July 31, the agency reported that it detected a total of 785 cases and 2,100 kilograms of drugs during the third joint anti-drug smuggling operation, dubbed 'Pacific Shield,' which took place from May 1 to June 30. The seizures included 633.4 kilograms of methamphetamine, 368.8 kilograms of cannabis, and 757.4 kilograms of new psychoactive substances.This operation was co-hosted by the Korean Customs Agency and the Asia-Pacific Regional Information Center of the World Customs Organization, with participation from countries including South Korea, China, Japan, Australia, New Zealand, Hong Kong, Thailand, Vietnam, Malaysia, the Philippines, and Indonesia. The Customs Agency operated control centers in seven locations to facilitate real-time information sharing and in-depth analysis.The operation focused on enhancing border control capabilities against drug smuggling, sharing intelligence on drug trafficking in real-time, and strengthening targeting and inspections through expanded analysis of received information. The strategy aimed to block drug movement between countries in the Asia-Pacific region through international cooperation.This year's results surpassed those of the previous two joint operations combined. In the first operation in 2024, 61 cases and 131.8 kilograms were seized, while the second operation last year resulted in 235 cases and 663 kilograms. The third operation this year saw a significant increase, with the number of cases rising approximately 3.3 times compared to last year.New psychoactive substances accounted for the largest share of the seizures, followed by methamphetamine and cannabis. The Customs Agency noted that the distribution patterns of drugs in the Asia-Pacific region are diversifying due to the rapid spread of new types of synthetic drugs. In the third operation, 757.4 kilograms of new psychoactive substances, 633.4 kilograms of methamphetamine, 368.8 kilograms of cannabis, 74.6 kilograms of heroin, and 57.1 kilograms of cocaine were seized.To prevent the influx of drugs, the Customs Agency is expanding joint operations with customs authorities in major drug-producing countries. It is also strengthening cooperation with international organizations such as the World Customs Organization, the United Nations Office on Drugs and Crime, the United Nations Commission on Narcotic Drugs, and Interpol.In response to the recent surge in ketamine smuggling from Europe, the agency plans to establish a cooperative framework with key European countries, including France, the United Kingdom, and the Netherlands. A dedicated drug information organization will be created to adapt to changing smuggling routes and methods.Lee Jong-wook, head of the Customs Agency, stated, "Since nearly all drugs distributed and consumed domestically are imported from abroad, blocking the cross-border movement of drugs is essential to combat domestic drug crime. International cooperation is crucial for this effort. We will concentrate all our capabilities to ensure that drugs do not cross our borders through close collaboration with multiple countries."* This article has been translated by AI. 2026-07-31 11:32:00