AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Hyundai Terra Tower Guri Galmae Enhances Commuting and Logistics Competitiveness
    Hyundai Terra Tower Guri Galmae Enhances Commuting and Logistics Competitiveness Companies are changing their criteria for selecting workspaces. As the focus shifts from merely securing office space to considering operational efficiency, talent acquisition, and logistics competitiveness, the value of knowledge industry centers with excellent access to Seoul is increasing.Industry analysts note that knowledge industry centers located on the outskirts of the metropolitan area are often less preferred by companies if they lack good access to Seoul. Conversely, locations that offer convenient travel to major business districts in Seoul are seen as beneficial for client meetings, collaboration, and commuting ease, thereby enhancing corporate competitiveness.For companies frequently traveling to key business areas such as Gangnam, Gwanghwamun, and Yeouido, transportation networks are crucial for saving time and costs. Additionally, these locations allow companies to efficiently utilize Seoul's business infrastructure while avoiding the high rental costs associated with the city center.Good transportation conditions also impact talent acquisition. As employees consider commuting convenience an important factor, work facilities with excellent access to Seoul can positively influence employee satisfaction and recruitment competitiveness. There are also opinions that areas with future transportation network expansions could hold significant future value.A real estate industry representative stated, "When choosing a knowledge industry center, it is essential to consider not only the current transportation environment but also the future transportation networks being developed. Areas with continuously improving access to Seoul are likely to have higher competitiveness in terms of operational efficiency and asset value for businesses."Among these developments, the 'Hyundai Terra Tower Guri Galmae' is attracting interest from companies due to its accessibility to Seoul.The Guri Galmae area, where the complex is located, is considered a beneficiary of the recently opened Anseong-Guri section of the Sejong-Pocheon Expressway. This route connects the southeastern metropolitan area with the northeastern part of Seoul and helps distribute traffic from the existing Gyeongbu and Jungbu Expressways.Hyundai Terra Tower Guri Galmae is conveniently located near the Galmae IC and the Toegye-won IC, enhancing efficiency in logistics operations, client visits, and material transportation.Public transportation options are also excellent. The area is served by the Gyeongchun Line with access to Galmae Station and Byeollae Station, where the extended Line 8 of the Seoul Subway connects to Jamsil in about 30 minutes. Additionally, transfers to Lines 2, 3, 5, and 9, as well as the Suin-Bundang Line, provide excellent access to major areas in Seoul, including Gangnam, Jamsil, and Cheonho.Future developments of the GTX-B line are also anticipated. Once the GTX-B, which connects Songdo, Seoul, and Namyangju Masuk, is operational, travel times to key business areas such as Yeouido, Yongsan, Seoul Station, and Cheongnyangni are expected to decrease. Currently, discussions are ongoing regarding the potential for additional stops at Galmae Station.The city of Guri has submitted data to the Ministry of Land, Infrastructure and Transport indicating that the cost-benefit ratio (B/C) for the Galmae Station stop feasibility study is 1.57. It is also reported that the Korea National Railway Authority has verified the economic and technical feasibility.The sales conditions are also considered competitive. The company explains that for businesses currently burdened by high rental costs in existing office facilities, this presents an opportunity to secure assets at a similar cost.The product configuration has been tailored to meet the needs of various businesses. Live offices, drive-in spaces, and office types have been specially designed by floor and line, allowing different industries to choose spaces that fit their operational characteristics. Community facilities for tenant companies have also been established.Meanwhile, 'Hyundai Terra Tower Guri Galmae' is currently in the process of tenanting, and consultations regarding sales and occupancy can be conducted at the promotional center located on the first floor of the complex.* This article has been translated by AI. 2026-07-31 09:48:20
  • Jung Jeom-sik Criticizes Opposition Partys Push to Abolish Prosecutorial Investigative Powers
    Jung Jeom-sik Criticizes Opposition Party's Push to Abolish Prosecutorial Investigative Powers Jung Jeom-sik, the floor leader of the People Power Party, criticized the ruling Democratic Party on July 31 for introducing a bill to abolish prosecutorial investigative powers during a National Assembly session. He questioned whether the Democratic Party's call for a 'working National Assembly' was merely a cover to facilitate the dismissal of President Lee Jae-myung's trial.During a meeting of the party's floor leadership, Jung accused the ruling party of creating loopholes in the judicial system to help the president evade legal challenges. He expressed concern that a filibuster regarding the abolition of investigative powers was underway in the National Assembly, predicting that it would be forcibly ended in a few hours, leading to the passage of a law that would be a disgrace in constitutional history.Jung noted that a majority of the public opposes the abolition of investigative powers, stating that the Democratic Party is acting against public sentiment. He also pointed out that during a legislative committee meeting, a provision to ease the dismissal of charges against the president was secretly inserted into the bill.He condemned the National Assembly for engaging in deceitful tactics akin to a sleight of hand, stating that while the Democratic Party claims to advocate for judicial reform, it has not implemented any effective reforms since the Moon Jae-in administration.Jung warned that if prosecutorial investigative powers are abolished, ordinary citizens would suffer from inadequate and delayed investigations, while those in power, including the president, would pressure the courts to dismiss charges for various reasons.He also criticized a proposed amendment to the National Assembly Act that would shorten the review period for fast-tracked bills from 330 days to 90 days, labeling it a 'rubber-stamp law' that would turn the National Assembly into a mere tool for the Democratic Party, enabling quicker and more compliant decision-making.Jung emphasized that the fast-track system was introduced in 2012 to ensure dialogue and compromise in a polarized political environment, protecting the rights of minority parties. He argued that the Democratic Party is undermining the balance established by the National Assembly Advancement Act, warning that hastily processed legislation could lead to long-term national repercussions and social chaos. He called for the immediate withdrawal of the rubber-stamp law.* This article has been translated by AI. 2026-07-31 09:48:00
  • Parents Criticized for Scolding Child Over Expensive Burger Purchase
    Parents Criticized for Scolding Child Over Expensive Burger Purchase Parents are facing backlash after scolding their middle school child for spending nearly 30,000 won on a burger set. The incident has sparked criticism among office workers and online users.On July 30, a post titled "My middle school child bought nearly 30,000 won worth of hamburgers at a fast-food restaurant" appeared on the anonymous office worker community Blind.The author, identified as A, who works at Koh Young Technology, wrote, "I asked if they bought food for friends, but they said no. They claimed they spent their own money." A detailed that the receipt showed the hamburger cost 14,000 won, fries 6,000 won, and a milkshake nearly 7,000 won.A expressed disbelief at the situation, stating, "I scolded them because it didn’t make sense, but they said they saved money by not going to McDonald's three times a month. I told them I would reduce their allowance if this continued."A mentioned that after giving their child an allowance, they require them to attach receipts to a family budget in Notion, emphasizing that the child tends to spend significantly on desired items. A argued, "This is dangerous. If their standards become too high, they will only seek out such items when they have their own money later on."A also noted, "I give them 10,000 won for dinner before going to their academy, but I suspect they are saving that money by eating at home instead. It’s hard for me to understand how a child can buy something that even adults can’t afford."However, many commenters criticized A's parenting approach.An employee from Samsung Electronics commented, "I don’t see what the problem is," to which A replied that it was a "habit of luxury." The commenter countered, "They are saving to buy what they want. That’s a good thing. What more should a middle schooler want? Should they save for a deposit or invest in ETFs? This seems like a healthy consumption habit for their age."Another commenter from Kakao Pay remarked, "They are planning and executing their desires, yet you criticize them. Poor kid." A retorted, "Planning should involve productive activities."Another office worker asked, "Why is it a problem for them to have high standards? Diverse experiences enrich a child's life. Saving money to invest in good experiences isn’t luxury. Do you want your child to live a narrow life without good experiences?" A responded, "But why is it about food? If it were books or exhibitions, no one would say anything."In response to a comment suggesting that strict parenting could lead to rebellion, A stated, "It’s about preventing neglect, not allowing freedom. Spending 30,000 won on a hamburger doesn’t make sense. I’ve never done that in my life."A worker from Daewoo Engineering & Construction commented, "Just let them try it," while another from Lotte Shopping added, "Why have kids if you’ve never experienced this yourself?"The post has since gained traction across various online communities, with most users expressing critical views.One user wrote, "If you raise them like that, they might rebel and engage in impulsive spending later on," while another noted, "It’s impressive that a middle schooler can save up to buy an expensive burger instead of just eating three regular ones."Other comments included, "Saving up leads to problems? Just spend it as soon as you get it. Great job destroying your child's spending habits, parents," and "This kid will probably cut ties with their parents as soon as they become an adult." Many expressed admiration for the child’s ability to save, with one saying, "It’s not easy to do that at a young age," and another questioning how strict the parents must be if they react this way to a hamburger purchase.* This article has been translated by AI. 2026-07-31 09:44:00
  • KOSPI Surges Over 15% Amid U.S. Tech Stock Rally, Circuit Breakers Activated
    KOSPI Surges Over 15% Amid U.S. Tech Stock Rally, Circuit Breakers Activated KOSPI has surged over 15% in early trading, buoyed by a significant rise in U.S. big tech and semiconductor stocks. Following a steep decline in the domestic market over the past three days, a wave of bargain hunting has triggered circuit breakers in both the KOSPI and KOSDAQ markets.As of 9:35 a.m. on July 31, the KOSPI index rose 841.40 points (15.04%) to reach 6,434.96. The index opened 64.23 points (1.15%) higher at 5,657.79 and quickly expanded its gains, recovering above the 6,400 mark.In overnight trading, the New York Stock Exchange closed higher as the June Personal Consumption Expenditures (PCE) price index met market expectations, and strong earnings from Microsoft and optimistic forecasts for Amazon boosted investor sentiment. Semiconductor stocks, including Micron (up 18.4%) and SanDisk (up 26.0%), showed significant gains, alleviating some of the recent concerns surrounding semiconductor investments.In the KOSPI market, foreign and institutional investors have net purchased 55.994 trillion won and 857 billion won, respectively, while individual investors have net sold 57.353 trillion won.Among the top market capitalization stocks, SK Square (up 29.92%), SK Hynix (up 24.81%), Samsung Electronics (up 20.77%), Samsung C&T (up 18.54%), Hyundai Motor (up 8.55%), and Kia (up 7.45%) are all showing strong performance.At the same time, the KOSDAQ index recorded a gain of 52.31 points (8.11%), reaching 697.09. The index opened 21.69 points (3.36%) higher at 666.47 and is continuing to rise.In the KOSDAQ market, foreign and institutional investors have net purchased 823 billion won and 725 billion won, respectively, while individual investors have net sold 1.574 trillion won.Among the top KOSDAQ stocks, JUSUNG Engineering (up 27.06%), Wonik IPS (up 24.90%), Rino Technology (up 14.49%), Rainbow Robotics (up 11.66%), EcoPro (up 10.06%), EcoPro BM (up 6.22%), ABL Bio (up 5.59%), and Alteogen (up 2.86%) are all experiencing upward trends.Han Ji-young, a researcher at Kiwoom Securities, stated, "The strong earnings from major big tech companies like Microsoft and Amazon have eased concerns about the AI investment cycle, and expectations are growing for the end of the deleveraging in the global semiconductor sector. The sharp rise in KOSPI 200 night futures and the perception of excessive declines are likely to lead to a strong rebound in the domestic market."He added, "The recent reduction in the market influence of single-stock leveraged products, along with improved visibility in semiconductor sector earnings, suggests that there are favorable conditions for upward movement in terms of stock prices and valuations."* This article has been translated by AI. 2026-07-31 09:44:00
  • Elon Musk Plans Major Donations to Republican Candidates in Upcoming Midterms
    Elon Musk Plans Major Donations to Republican Candidates in Upcoming Midterms Elon Musk, CEO of Tesla and a major donor to Donald Trump during the 2024 U.S. presidential election, is reportedly planning to make significant contributions to Republican candidates in the upcoming midterm elections this November.According to a report by The New York Times on July 30, citing two sources, Musk has approved a spending plan of $100 million to $120 million for his political action committee, America PAC, in preparation for the midterms.One source indicated that the program is set to launch next month, and America PAC officials have recently communicated a "nine-figure budget plan" to Republican representatives. While the exact amount Musk will contribute may vary, his commitment to supporting Republican candidates remains strong, the Times reported.The program aims to support Republican candidates in at least eight states, initially including Senate candidates in Alaska, Iowa, Maine, Michigan, and Ohio. Discussions are also ongoing regarding support for candidates in North Carolina, Georgia, and Texas, as well as House candidates in California, Wisconsin, and Washington, according to the two sources.Musk's substantial financial backing for the Republican Party is expected to widen the funding gap between Republicans and Democrats ahead of the midterms, the Times noted.On the previous day, the U.S. news channel MS NOW reported that the Republican Party plans to spend a total of $1 billion leading up to the midterms, while the Democrats' spending is projected to be less than half that amount, at around $440 million.During the 2024 presidential election, Musk emerged as Trump's largest donor, contributing over $260 million. Following Trump's second administration's inauguration, Musk took on a significant role as head of the Department of Government Efficiency (DOGE). However, he stepped down from this position last year amid conflicts with Trump over tax cuts and hinted at the possibility of forming a third party. Despite this, Musk and Trump have since met again, indicating efforts to mend their relationship. 2026-07-31 09:40:00
  • Young consumers drive preorders for Samsungs latest foldable phones
    Young consumers drive preorders for Samsung's latest foldable phones SEOUL, July 31 (AJP) - Young consumers are leading preorders for Samsung Electronics' newest foldable phones. The electronics giant said Friday that with three days left in the preorder period for its Galaxy Z Fold8 Ultra, Fold8, and Flip8 which started earlier this week, about half of all preorders were placed by customers in their teens and 30s. The most popular model among them was the Fold8, which Samsung attributed to its passport-like portability when folded and tablet-sized screen when unfolded, appealing to users who enjoy short-form videos, webtoons, and games. Samsung also pointed to major promotions including an offer that gives buyers of the 256GB model a free upgrade to 512GB, a deal Samsung values at 253,000 South Korean won (US$180). Customers who preorder the 512GB Fold8 Ultra or Fold8 can also pay an extra 310,700 won to upgrade to 1TB. Samsung said storage capacity is one of the key factors younger buyers consider when choosing smartphones, as they tend to be heavy users of photos, videos and games. Improved compatibility with Apple's iOS devices, which allows iPhone users to wirelessly transfer their data to a Galaxy phone by scanning a QR code without installing a separate app, appeared to be another factor driving demand, according to the handset maker. Samsung's new subscription program may have also boosted interest by offering customers up to 50 percent of the devices' residual value upon return, along with benefits such as device protection, repair services and accessory discounts. A separate plan is also available for customers in their teens and 20s. "Customers in their teens to 30s responded strongly during the early preorder period, showing interest in the new foldable design and its improved user experience," said a Samsung official said, adding that customers considering a purchase should place their orders before Aug. 3, when preorder benefits expire. 2026-07-31 09:39:56
  • KOSPI gains 15% on chip turbocharge
    KOSPI gains 15% on chip turbocharge SEOUL, July 31 (AJP) -South Korean chip stocks staged an epic rebound on a wave of foreign buying Friday, with SK hynix and Samsung Electronics surging more than 20 percent and propelling the benchmark KOSPI nearly 15 percent higher after this week's rout. The KOSPI jumped 14.9 percent to 6,427.25 as of 9:30 a.m., recouping much of the roughly 18 percent it had lost over the previous four trading sessions. The country's two AI memory champions turbocharged the recovery. SK hynix traded at 1,630,000 won ($1,140.80), up 23.3 percent, while Samsung Electronics climbed 19.8 percent to 248,000 won ($173.60). Foreign investors returned in force, buying a net 4 trillion won ($2.8 billion) worth of local equities. The overnight cue was decisive. The Nasdaq Composite rose 2.8 percent Thursday to 25,122.18, snapping a six-session losing streak, while the Philadelphia Semiconductor Index gained more than 7 percent, reigniting optimism across global chip markets. JPMorgan added to the bullish mood, telling clients this week that hedge-fund deleveraging in semiconductor and memory stocks had likely run its course faster than expected. Traders in Seoul interpreted the note as a signal that the forced-selling cycle had largely ended. The rebound spread well beyond the memory makers. The tech-heavy KOSDAQ climbed 7.2 percent to 691.35, while semiconductor suppliers outpaced the broader market. Samsung Electro-Mechanics soared 25.6 percent to 1,104,000 won ($772.70) and SK Square jumped 25.8 percent to 1,005,000 won ($703.40). Friday also marked the first day of tighter trading rules aimed at cooling speculation. The minimum deposit required to trade single-stock leveraged exchange-traded products was raised to 30 million won from 10 million won, part of regulators' efforts to curb extreme swings in large-cap chip names. Elsewhere in Asia, Japan's Nikkei 225 rose 2.8 percent to 63,609.03 in early trading, tracking the global technology rally. The Korean won traded at 1,428.80 per dollar, weakening 2.6 won from the previous session. 2026-07-31 09:37:59
  • UBS Initiates Coverage of SK Hynix ADR with Buy Rating and $204 Target Price
    UBS Initiates Coverage of SK Hynix ADR with 'Buy' Rating and $204 Target Price Global investment bank UBS has issued its first analysis report on SK Hynix's American Depositary Receipts (ADR), recommending a 'Buy' rating and setting a target price of $204. The firm believes that the current stock price does not adequately reflect the growth potential driven by the expansion of artificial intelligence (AI).According to Investing.com on July 30, UBS analyst Nicolas Godoy forecasts a 36% increase in DRAM demand for next year, significantly higher than this year's expected growth of 22%. The demand for NAND flash is also projected to rise from 20% this year to 23% next year.UBS analyzed that the rise of 'agentic AI,' which can perform tasks autonomously without human direction, will boost demand across the memory market, extending beyond high-bandwidth memory (HBM). Increased investments in AI servers and PCs are expected to drive up DRAM demand, along with a corresponding rise in NAND flash usage for data storage.The firm anticipates that the memory supply shortage will persist for the time being, particularly noting that DRAM supply may not keep pace with demand until 2028.UBS positively assessed SK Hynix's rapid expansion of long-term supply contracts with major customers. The company has secured approximately ten long-term contracts, including agreements with large U.S. cloud providers and key manufacturers. Negotiations for HBM supply are also underway for 2027 and beyond.While UBS noted that these long-term contracts might limit short-term price increases in memory, they are expected to contribute to stable revenue generation and increased shareholder returns in the long run.The recent decline in stock prices has enhanced its attractiveness, according to UBS. The firm estimates that the long-term return on equity (ROE) for SK Hynix is currently reflected at about 17.7%. This figure is less than half of UBS's projected average ROE of 40.2% for the years 2027 to 2031, indicating that the current stock price undervalues SK Hynix's future profitability.Godoy stated, 'The current corporate value does not adequately reflect the structurally increased memory profitability, enhanced free cash flow generation, and expanded shareholder returns.'When UBS set its target price, the last closing price for SK Hynix ADR was $126.79, suggesting a potential upside of about 61% to reach the target price of $204.On the same day, SK Hynix ADR closed at $149, up 17.5%, buoyed by a strong performance in semiconductor stocks. Based on this closing price, the potential upside to UBS's target price is approximately 37%.* This article has been translated by AI. 2026-07-31 09:36:00
  • Semiconductor Stocks Surge, Inverse ETFs Plummet; SK Hynix Drops 50%
    Semiconductor Stocks Surge, Inverse ETFs Plummet; SK Hynix Drops 50% SK Hynix's stock surge has led to a significant drop in inverse exchange-traded funds (ETFs) and exchange-traded notes (ETNs) that bet against the market. As of 9:32 a.m. on July 31, the SOL SK Hynix Futures Single Stock Inverse 2X ETF was trading at 9,325 won, down 51.47% from the previous trading day. This marked a nearly 10,000 won drop in just one day, the largest decline among inverse products. Other products betting on a decline in semiconductor stocks also saw significant losses. The Kiwoom Inverse 2X Semiconductor TOP10 ETN fell by 49.04%, while the Mirae Asset Inverse 2X Semiconductor ETN and Hana Inverse 2X Semiconductor ETN dropped by 46.13% and 46.09%, respectively. The PLUS Samsung Electronics Futures Single Stock Inverse 2X ETF also experienced a decline of 43.28%. Products betting against the KOSPI 200 index also suffered, with the Mirae Asset Inverse 2X KOSPI 200 Futures ETN B down 35.11%, and other similar products like the Kiwoom 200 Futures Inverse 2X, PLUS 200 Futures Inverse 2X, KODEX 200 Futures Inverse 2X, and TIGER 200 Futures Inverse 2X all seeing declines in the range of 33% to 35%. The sharp drop in inverse products is attributed to a recent rebound in semiconductor stocks, which had previously attracted buying interest as a defensive measure during market corrections. Notably, the structure of 2X inverse products means that while they gain when the underlying asset declines, their losses can also significantly increase during a market upswing. 2026-07-31 09:36:00
  • Chinas Coal Power Share Falls Below 50% for First Time Amid Renewable Energy Growth
    China's Coal Power Share Falls Below 50% for First Time Amid Renewable Energy Growth For the first time, coal power's share of China's total electricity generation has fallen below 50%.According to the National Energy Administration, coal power generation reached 2.5 trillion kWh in the first half of this year, accounting for 49.7% of total electricity generation, as reported by state broadcaster CCTV on July 31. This marks the first time that coal's share has dipped below 50%. The National Energy Administration stated, "This is a result of China's long-term policy to expand renewable energy generation."In the first half of this year, renewable energy accounted for 41.2% of China's electricity generation, surpassing 40% for the first time. Wind and solar energy contributed 24.6%, more than doubling from 9.7% in 2020.China aims to increase the share of wind and solar energy to 30% of total electricity production by 2030. However, industry experts predict this target could be reached as early as 2028. As of the end of June this year, China's installed capacity for wind and solar power was 1.95 billion kW, a 16.8% increase compared to the same period last year.Additionally, the National Energy Administration reported that investments in power grid construction have increased by 13.5% compared to last year, driven by the full-scale development of new power grids. Investments in electric vehicle charging and battery swapping infrastructure rose by 21.8%, while investments in energy storage systems (ESS) surged by 74.3%. Notably, investment in hydrogen energy exceeded a growth rate of 160%, continuing its rapid expansion.In the first half of this year, China's crude oil production increased by 0.9% year-on-year, while natural gas production rose by 1.6%. In contrast, coal production decreased by 1.7%. The total capacity of power generation facilities has surpassed 4 billion kW, maintaining the largest scale among major global economies.* This article has been translated by AI. 2026-07-31 09:36:00