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Industrial Production Sees Largest Increase in Six Years Driven by Semiconductor Recovery Last month, South Korea's industrial production, consumption, and investment all rose, marking a "triple increase" for the first time in three months. Notably, both automotive production and consumption increased, while semiconductor production rebounded, leading to the largest rise in overall industrial production in six years.According to the National Data Agency's "June 2026 Industrial Activity Trends" report released on July 31, the overall industrial production index reached 120.1 (2020=100), a 2.3% increase from the previous month. Both mining and manufacturing, as well as the service sector, saw growth, with automobiles and semiconductors driving the overall production.Mining production increased by 6.4% month-on-month, despite a notable decline in electronic components (-10.4%). The automotive sector saw a 15.4% increase, while semiconductor production rose by 4.5%. After experiencing a decline of over 10% in May, semiconductor production turned around, attributed to increased demand for non-memory semiconductors due to new smartphone launches.In the service sector, production grew by 0.7% month-on-month, primarily driven by increases in finance and insurance (2.8%) and transportation and warehousing (2.0%).Retail sales were led by the automotive sector. While sales of semi-durable goods, such as clothing, fell by 1.7% compared to the previous month, sales of durable goods, including passenger cars, surged by 12.6%, resulting in an overall retail sales index increase of 2.7%. The durable goods sales index recorded its largest increase since September 2009, rising by 14.0%.The retail sales index for passenger cars increased by 21.8% month-on-month, marking the largest rise in 6 years and 3 months since a 47.7% increase in March 2020. Additionally, discounts on home appliances from Samsung Electronics and LG Electronics contributed to the rise in retail sales.Investment in transportation equipment, particularly in machinery and automobiles, increased, leading to a 5.8% rise in overall facility investment compared to the previous month.Lee Doo-won, an economic trends statistics advisor at the National Data Agency, stated, "The normalization of production, which had been halted due to a fire at a parts supplier in March, has led to an overall increase in automotive production. The new car effect from new brand launches, along with the end of the individual consumption tax reduction in June, has played a significant role in driving overall production, retail sales, and facility investment in the automotive sector."Construction activity also continued to rise. Although civil engineering performance decreased by 1.3%, both non-residential and residential construction, including semiconductor plants, increased, resulting in a 4.1% month-on-month rise in overall construction activity.However, the National Data Agency's analysis suggests it is too early to declare a full recovery in construction activity. The advisor noted, "While construction activity has shown a month-on-month increase for two consecutive months, it still remains in negative territory compared to the same month last year."The coincident composite index, which reflects current economic trends, rose by 0.5 points from the previous month due to increases in import values and construction activity.The leading composite index, which predicts future economic conditions, increased by 0.9 points, marking the largest rise since April 2009, when it rose by 1.1 points. The advisor commented, "The KOSPI is performing at a high level, and with strong exports, it has risen for eight consecutive months. The coincident composite index is generally on an upward trend recently." 2026-07-31 09:08:20 -
Kim Yong-min: Opposition Links Dismissal Reasons to Lee's Trial as Political Framing Kim Yong-min, a member of the Democratic Party, criticized the People Power Party on July 31 for linking the sudden addition of dismissal reasons to a criminal procedure law amendment focused on abolishing supplementary investigation rights to President Lee Jae-myung's trial, calling it a political framing.In a phone interview on SBS Radio's 'Kim Tae-hyun's Political Show,' Kim stated, "We have specifically codified the dismissal reasons that were recognized by existing case law," adding that the provision clarifies judicial oversight over prosecutorial authority.When asked if the provision could apply to President Lee's trial, he noted, "Theoretically, it could have an impact, but the existing dismissal reason is already specified in Article 327, Clause 2 as 'when the procedure for prosecution is invalid due to violation of legal provisions,' so there won't be significant changes."In contrast, Park Chung-kwon, the People Power Party's chief spokesperson, criticized the Democratic Party's late-night inclusion of the 'expansion of dismissal reasons' clause, calling it an overt declaration to completely eliminate President Lee's trial and an example of legislative overreach.Meanwhile, the People Power Party is currently conducting a filibuster in response to the introduction of the criminal procedure law amendment, but the Democratic Party and other ruling coalition members plan to proceed with a concluding vote after 24 hours of the filibuster.* This article has been translated by AI. 2026-07-31 09:08:00
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Public Submissions on Real Estate Policy Reach 7,476, with Housing Finance Leading at 39% The government received a total of 7,476 opinions through its online platform, 'realestateforum.kr', aimed at gathering public feedback on real estate policy. Opinions related to housing finance accounted for the largest share at 39%. The Ministry of Finance announced on July 31 that the operation of realestateforum.kr would conclude at midnight. As of midnight on July 30, the platform had approximately 43,000 visitors. The breakdown of submissions showed that housing finance received 2,943 opinions (39%), followed by housing supply with 2,381 (32%), and real estate taxation with 2,152 (29%). The government plans to review the submitted opinions by relevant departments and utilize them in the future formulation of real estate policy. While the dedicated website will be closed, the collection of public opinions on real estate policy will continue through other channels. Comments regarding tax reform can be submitted through the National Participation Legislative Center once the legislative notice process begins. The Ministry of Finance will provide a direct link from the website to the National Participation Legislative Center. Opinions submitted during the legislative notice period will be considered before the finalization of the legislation. Feedback related to housing supply and housing finance can be submitted at any time through the National Ombudsman.* This article has been translated by AI. 2026-07-31 09:00:20
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Kia's Green Light Project Achieves Success in Albania and Zimbabwe Kia announced on July 31 that it has successfully completed its Green Light Project initiatives in Albania and Zimbabwe, transferring operational authority to local communities.The Green Light Project is Kia's flagship social contribution initiative, launched in 2012 across 19 locations in 15 countries in Africa, Europe, and Asia. With this transfer, Albania and Zimbabwe become the 13th and 14th self-sustaining sites of the project.Since 2023, Kia has established a treatment center for children with disabilities in the Librazhdi region of Albania, providing rehabilitation therapy and caregiver training, benefiting approximately 4,300 individuals. The project also supports the production and distribution of local specialties for families of children with disabilities, helping to establish economic independence.In Zimbabwe's Wedza region, Kia has developed solar-powered water facilities, irrigation systems, and fish farms, contributing to improvements in labor infrastructure, including support for mining equipment. The initiative has also provided self-sufficiency training to around 34,000 residents.Lee Deok-hyun, Executive Director of Kia's Sustainable Management Office, stated, "The core of the Green Light Project is to enable sustainable operations led by local communities even after the project period ends. We will continue to support the remaining five sites until next year and actively work to address global social issues."Meanwhile, Kia continues its various social contribution activities both domestically and internationally, including the 'Green Travel' program supporting travel for people with disabilities and the 'Harmony' program assisting multicultural youth in entering society.* This article has been translated by AI. 2026-07-31 09:00:00
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Actress Kim Min-ha to host this fall's Busan film fest SEOUL, July 31 (AJP) - Actress Kim Min-ha will host the opening ceremony of this year's Busan International Film Festival, to be held this fall in the southern port city. Organizers of the annual festival, now in its 31st year, said Friday that the rising actress has been chosen as the sole host of the ceremony. Since making her acting debut in 2016, she gained widespread recognition for her role in Apple TV+'s drama series "Pachinko" in 2022 and has since appeared in various projects, building a solid career across both film and television. She has recently generated buzz on social media for her noticeably slimmer physique, having reportedly lost about 17 kilograms. The festival runs from Oct. 6 to 15. 2026-07-31 08:55:02 -
Samsung Electronics and SK Hynix Surge in Pre-Market Trading Amid U.S. Semiconductor Rally Samsung Electronics and SK Hynix experienced significant gains in pre-market trading on July 31.According to NextTrade, as of 8:37 a.m., SK Hynix shares rose by 207,000 won (15.66%) to 1,529,000 won. Samsung Electronics also saw an increase of 27,500 won (13.29%), trading at 234,500 won.The surge in domestic semiconductor stocks follows a rebound in U.S. semiconductor shares, which has improved investor sentiment. Analysts suggest that the recent sharp declines in stock prices have led to a wave of bargain hunting, particularly among heavily sold-off stocks.On July 30, all three major U.S. stock indices closed higher. The S&P 500 rose by 121.48 points (1.66%) to close at 7,437.63, while the tech-heavy Nasdaq Composite surged by 679.24 points (2.78%) to finish at 25,122.18. The Dow Jones Industrial Average increased by 613.92 points (1.19%) to end at 52,208.06.Notably, semiconductor stocks saw a remarkable increase, with the Philadelphia Semiconductor Index soaring by 8.2%. Micron shares jumped 18%, SanDisk surged 26%, and AMD rose by 13%.* This article has been translated by AI. 2026-07-31 08:52:00
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U.S. Stocks Surge on Microsoft Earnings and Semiconductor Rally; KOSPI Set for Rebound The U.S. stock market closed sharply higher, buoyed by strong earnings from Microsoft and a significant rebound in semiconductor stocks. As concerns over a slowdown in the artificial intelligence (AI) investment cycle eased, the South Korean market is expected to attempt a strong rebound, particularly in semiconductor stocks.On July 30, the Dow Jones Industrial Average rose by 613.92 points (1.19%) to close at 52,208.06. The S&P 500 gained 121.48 points (1.66%) to finish at 7,437.63, while the tech-heavy Nasdaq Composite climbed 679.24 points (2.78%) to end at 25,122.18.The market rally was driven by the strong performance of AI leader Microsoft, which reported earnings that exceeded market expectations, leading to a 15.51% surge in its stock. This positive momentum also lifted semiconductor stocks, with Micron rising 18.36%, SanDisk up 25.99%, AMD increasing by 13.00%, and Intel gaining 11.30%. The Philadelphia Semiconductor Index saw an 8.19% increase. In contrast, Meta Platforms fell 7.95% due to concerns over profitability amid increased capital expenditures this year.The South Korean stock market is also expected to start strong, led by semiconductor stocks.As of 8:32 a.m., pre-market trading on NextTrade showed Samsung Electronics up 14.25% and SK Hynix rising 17.10%. Other major stocks, including SK Square (16.40%), Samsung Electro-Mechanics (16.15%), Samsung Life Insurance (10.80%), Samsung C&T (9.69%), Hyundai Motor (5.70%), LG Energy Solution (3.44%), and KB Financial (1.49%), also showed strong gains.Analysts believe that as concerns over the slowdown in the AI investment cycle and semiconductor de-leveraging ease, the South Korean market is likely to attempt a technical rebound.Han Ji-young, a researcher at Kiwoom Securities, stated, "The earnings reports from Microsoft and Meta have significantly alleviated concerns about profitability in the AI sector. Coupled with expectations that large hedge funds will end their de-leveraging, U.S. semiconductor stocks have rebounded sharply. The South Korean market is also expected to attempt a rebound, supported by expectations of easing semiconductor de-leveraging and strong performance in KOSPI 200 night futures."He added, "During the recent sharp decline, the market influence of single-stock leveraged products has diminished significantly. The visibility of semiconductor performance is improving through Samsung Electronics' conference call and the capital expenditure expansion trend among global big tech companies. Considering the potential for the end of semiconductor de-leveraging and the perception of excessive declines, the market is transitioning to a phase where upward factors are dominant."* This article has been translated by AI. 2026-07-31 08:48:00
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SK Group Chairman Chey Tae-won Makes Major Purchase of SK Hynix Shares 최태원 SK그룹 회장이 처음으로 SK하이닉스 주식을 직접 매입했다. According to industry sources, Chey purchased 3.62 trillion won worth of SK Hynix shares, equivalent to 4.8 billion won, on July 30. Under the insider trading pre-disclosure system, executives or major shareholders of listed companies must disclose their trading plans 30 days in advance if they intend to buy or sell shares that exceed 1% of the total issued shares or 5 billion won in transaction value over the past six months and the upcoming trading period. The obligation to disclose is waived if the transaction volume is less than 1% of the total issued shares and the transaction value is below 5 billion won. This requirement to aggregate transaction amounts over the past six months is intended to prevent so-called "split trading" to evade disclosure obligations. As a result, the amount Chey can purchase without prior disclosure in the next six months is limited to 5 billion won, excluding the current purchase. To buy more than this amount, he would need to disclose a trading plan if the cumulative transaction value exceeds 5 billion won, and the actual purchase would be possible at least 30 days after the disclosure. This transaction represents the maximum scope that can be executed without separate prior disclosure under the current pre-disclosure system. It is seen as a prompt way to convey his commitment to responsible management while adhering to existing procedures. Chey reportedly decided to make this stock purchase based on his belief in the value of the semiconductor business and his assessment that SK Hynix's stock price is currently undervalued. According to disclosures, SK Square is currently the largest shareholder of SK Hynix, holding a 20% stake. Besides Chey’s 3,620 shares, Kwak Noh-jung, CEO of Hynix, owns 14,312 shares, and Cha Sun-yong, head of the Future Technology Research Institute, holds 6,834 shares.* This article has been translated by AI. 2026-07-31 08:48:00
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Korea's June factory output hits 6-year high, chip lifts domestic front SEOUL, July 31 (AJP) - South Korea's factory output soared to a six-year high in June as robust automobile demand complemented chip activity, lifting the broader domestic economy. Mining and manufacturing output climbed 5.8 percent from May and 6.4 percent from a year earlier, the strongest monthly performance since June 2020, according to data released Friday by the Ministry of Data and Statistics. The rebound followed a revised 2.9 percent decline in May. Automobile production surged 15.4 percent from the previous month and 12.6 percent from a year earlier, returning to double-digit annual growth after contracting for two consecutive months. Semiconductor production rose 4.5 percent from May and 2.2 percent from a year earlier. While the monthly gain accelerated from May's 1.5 percent increase, annual growth remained far below April's 13.3 percent pace, suggesting chip output is stabilizing after an exceptionally strong run. Reflecting the broader recovery, overall industrial production excluding agriculture, forestry and fisheries increased 2.3 percent from the previous month and 4.2 percent from a year earlier. Domestic demand also showed signs of strengthening. Retail sales rose 2.7 percent from May, marking the strongest increase in five months as household spending improved despite persistent inflation. Facility investment climbed 5.8 percent from the previous month, the fastest increase in four months, and jumped 21.7 percent from a year earlier as semiconductor makers continued expanding production capacity. Construction completed, a gauge of current building activity, also increased 4.1 percent from May. Despite the strong June rebound, manufacturing output grew about 2.0 percent in the April-June quarter from the previous three months, easing from 2.7 percent growth in the first quarter, indicating that industrial momentum moderated on a quarterly basis even as June capped the period on a strong note. Retail sales increased to a five-month high of 2.7 percent amid income increase despite inflationary pressure. Facility investment rose to a four-month high of 5.8 percent and jumped 21.7 percent on year amid active chip expansion. Construction completed gained 4.1 percent from the previous month. The manufacturing output April-June period slowed to on-quarter 2-percent growth, slowing from 2.7 percent in the previous three-month period. 2026-07-31 08:46:18 -
Samsung Expands Supply of Home EHS Heat Pump Boilers to Target High-Efficiency Heating Market Samsung Electronics is intensifying its efforts in the high-efficiency heating solutions market by installing home EHS heat pump boilers in single-family homes in Jeju Island.On June 25, Samsung installed an EHS heat pump boiler in a home in the Aewol area of Jeju, and on June 30, the company held a ceremony to announce the expansion of its supply at the same residence.The EHS heat pump boiler is an integrated solution that absorbs heat from the outside air and amplifies it using electricity for indoor heating and domestic hot water. Unlike traditional boilers that directly burn fuel, this system utilizes ambient air heat to produce more thermal energy than the electricity consumed.The product's Seasonal Coefficient of Performance (SCOP) recorded 4.9 under conditions of 35 degrees Celsius, typically used for underfloor heating. This indicates that it can generate nearly five times the heating energy compared to its power consumption. Even under conditions requiring higher hot water temperatures of 55 degrees Celsius, it maintains an SCOP of 3.78.The SCOP is calculated by dividing the total annual heating energy by the power consumption, with higher values indicating greater heating efficiency. Actual efficiency may vary based on external temperatures, installation environments, and usage methods.The system is designed to provide stable heating performance even in low winter temperatures. It employs high-efficiency refrigerant compression technology, allowing it to supply hot water at temperatures up to 70 degrees Celsius, even when external temperatures drop to minus 15 degrees Celsius.To prevent pipe freezing and outdoor unit icing, the system has been enhanced with features such as an electric heater and anti-freezing valve inside the outdoor unit, as well as a separate heater at the bottom of the product to facilitate smooth drainage. These measures aim to reduce the risk of heating interruptions and product failures due to winter icing.Customers can operate key functions through a touch display on the heat pump's exterior. By using Samsung's SmartThings app, they can monitor indoor and outlet temperatures and control the product remotely.Samsung expects that the home heat pump boiler will meet the dual demands of reducing carbon emissions and lowering energy costs. As the transition to eco-friendly electricity generation expands, the carbon reduction effects are expected to increase compared to traditional boilers that directly use fossil fuels.The first customer to install the product, Park Jong-yeon, expressed optimism, stating, "I expect to see cost savings when I start using heating this coming winter. I believe it will also provide convenient hot water access."In line with the growing trend of electrification in heating, Samsung is continuously enhancing the competitiveness of its heat pump-based heating solutions based on differentiated technology.Kim Yong-hoon, Executive Vice President of Samsung Electronics Korea, stated, "The EHS heat pump boiler is a solution with high heating efficiency and stable high-temperature water supply performance. We aim to provide customers with a convenient and efficient experience based on proven technology in real living environments and contribute to the expansion of the high-efficiency heating market."* This article has been translated by AI. 2026-07-31 08:44:00