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  • Gwangmyeong Mayor Shin Gye-yong Highlights Youth Festival as Key Cultural Event
    Gwangmyeong Mayor Shin Gye-yong Highlights Youth Festival as Key Cultural Event Gwangmyeong Mayor Shin Gye-yong emphasized on July 29 that the Gwangmyeong Youth Festival is becoming a representative cultural event for the region, driven by the participation and ideas of local youth. On this day, Mayor Shin announced the launch of the 'Third Gwangmyeong Youth Festival Planning Group' during a ceremony at the youth space, 'Flying Zone,' marking the beginning of their activities. The mayor is accelerating efforts to create a city where young people can thrive by expanding participatory youth policies that allow them to plan and operate local festivals. The new planning group consists of nine local youths selected through an open recruitment process in May. They will be involved in all aspects of the upcoming '5th Gwangmyeong Youth Festival,' scheduled for October 3, including planning, promotion, and operations. This initiative aligns with Mayor Shin's vision of positioning youth not just as beneficiaries of policies but as active contributors to policy-making and local culture. During the ceremony, participants received their appointment letters and discussed the festival's operational direction and roles, as well as various ideas from the youth. Notably, the second planning group, which operated last year, successfully laid the groundwork for a youth-led festival through effective program planning, on-site management, and promotion. This year, the third planning group aims to focus on developing enhanced content and citizen participation programs. Before the festival, the planning group will conduct expert training, workshops, benchmark successful festivals from other municipalities, and create promotional content to ensure a festival that is collaboratively built by youth and citizens. Since taking office, Mayor Shin has consistently pursued various youth policies, including the establishment of youth spaces, expanding youth participation, and developing youth policies, to create a foundation for young people to become key players in local development. The operation of this youth festival planning group is also being recognized as a prime example of effectively expanding youth participation in policy-making. Gwangmyeong citizens have responded positively to the approach of having youth directly create local events. One citizen remarked, "If young people are generating ideas and running the festival, it will be much more innovative and enjoyable for the community." Another citizen noted, "Mayor Shin's ongoing efforts to actively incorporate youth opinions into governance are commendable. I hope Gwangmyeong evolves into a cultural city where young people want to stay and where all citizens can participate together." Local youth expressed optimism, stating, "Opportunities for youth to directly create policies and festivals are increasing beyond administrative boundaries. We hope to see more diverse youth participation policies in the future." Meanwhile, Mayor Shin Gye-yong added, "I will actively support the 5th festival to ensure it becomes a meaningful event where both youth and citizens can enjoy and communicate together."* This article has been translated by AI. 2026-07-30 19:16:00
  • Lucky Plant Blooms, Good Fortune Realized: 326th Pension Lottery 720+ Winning Numbers Drawn
    Lucky Plant Blooms, Good Fortune Realized: 326th Pension Lottery 720+ Winning Numbers Drawn On July 30, interest is growing in the winning numbers for the 326th Pension Lottery 720+, while stories of the winners from the 269th round are being highlighted.In a post on the Donghaeng Lottery winners' board from July 2024, a winner of the first prize (one ticket) and second prize (four tickets) from the 269th round shared, "I usually buy a lotto ticket once a week, but that day, the pension lottery caught my eye, and I decided to buy it as well." They continued, "Strangely, I had a good feeling that I would win this time, and when I checked the results, I was so surprised that I thought my phone was broken and checked it multiple times. I couldn't contain my joy and told my mother first, and she celebrated with me." The winner reflected, "Actually, the lucky plant I have been growing since last year recently bloomed, and I thought, 'Good things are coming soon,' and it seems that feeling has become a reality. I still can't believe it." The winner, who purchased the lottery ticket at a store in Deokjin-gu, Jeonju, shared that they usually buy lotto tickets weekly. Regarding plans for the winnings, they stated, "I plan to use it to pay off loans and for living expenses." Meanwhile, the winning numbers for the 326th Pension Lottery 720+ will be available after 7:05 PM today.* This article has been translated by AI. 2026-07-30 18:52:00
  • Lee Seung-won Appointed as New Overseas Media Secretary
    Lee Seung-won Appointed as New Overseas Media Secretary Lee Seung-won has been appointed as the new Overseas Media Secretary at the Blue House, according to reports on July 30.The Blue House stated that Lee will begin his duties around July 31, succeeding Choi Sung-ah, who recently submitted her resignation.Lee, a former journalist with the Daily News and E-Daily, has been active as a political commentator and is also an adjunct professor at Hanyang University’s Graduate School of Education.Additionally, the Blue House has reportedly promoted Kim Rak-jung, a senior administrative officer in the National Agenda Secretary's Office, to succeed Han Sang-ik as the National Agenda Secretary.Kim, a former reporter for Seongnam Ilbo, has served as a close aide to President Lee Jae-myung during his tenures as mayor of Seongnam, governor of Gyeonggi Province, and a member of the National Assembly.* This article has been translated by AI. 2026-07-30 18:40:00
  • Korean Football Association Begins Search for Interim Mens National Team Coach
    Korean Football Association Begins Search for Interim Men's National Team Coach The Korean Football Association has initiated a public recruitment process to appoint an interim head coach for the men's national football team.On July 30, the association announced the schedule and detailed procedures for selecting the interim coach and coaching staff for the national team.Previously, on July 24, the association's board approved the appointment of an interim coach to lead the team during the FIFA A-match periods scheduled from September to November.This recruitment aims to find a successor to Hong Myung-bo, who stepped down following the team's failure to advance past the group stage in the 2026 FIFA World Cup qualifiers. The process will be conducted in accordance with the national sports selection and operation regulations. This is the first time that the head coach for both men's and women's senior national teams will be selected through a public recruitment process. The association had previously implemented this method for the men's under-20 and Olympic teams.Applications will be accepted from July 30 until 5 p.m. on August 9. After reviewing applications and conducting interviews, the association will finalize the list of candidates and begin contract negotiations. With the A-match schedule starting on September 21, the association aims to complete the entire selection process by the end of August. The opponents for the A-matches in September have not yet been determined, but the team will face Venezuela and Uzbekistan during the October A-match period.Notably, applicants are required to form a 'team structure' for their applications. Candidates must assemble a coaching staff of at least five and up to seven members, including general coaches, goalkeeper coaches, physical trainers, and analysts. Once applications are submitted, changes to the team composition will not be allowed.Qualification criteria have also been specified. Domestic candidates must hold an AFC Pro (or equivalent) coaching license along with a Level 2 professional sports coaching certification. Foreign candidates are required to possess the highest-level coaching certification issued by a FIFA-affiliated confederation. For the coaching staff, domestic coaches must have an AFC A-level certification and a Level 2 professional sports coaching certification, while foreign coaches must meet the qualifications for their respective fields and have at least five years of coaching experience.Required application documents include certifications, a resume (CV), a personal statement, and a national team operation plan. The operation plan must detail player selection and management strategies, tactical and game models, and the division of roles among the coaching staff. An evaluation committee, composed of members from the association's performance enhancement committee and external evaluators, will assess the candidates' expertise and operational capabilities.The association stated, "Given the concerns and opinions from within and outside the football community regarding the public recruitment process for the A national team coach, we plan to gather insights on the strengths and weaknesses identified during this process."* This article has been translated by AI. 2026-07-30 18:28:00
  • Retail Investors Exit Market as KOSPI Declines for Third Consecutive Day
    Retail Investors Exit Market as KOSPI Declines for Third Consecutive Day Despite avoiding a 'Black Thursday,' investor sentiment remains low. The South Korean stock market has seen three consecutive days of decline, with individual investors exiting the market to realize profits, even after Samsung Electronics reported strong second-quarter results. The decline in investor deposits and margin trading balances indicates a shrinking appetite among retail investors.On July 30, the KOSPI closed at 5,593.56, down 69.68 points (1.23%) from the previous trading day. The index opened at 5,681.77, up 18.53 points (0.33%), but fluctuated throughout the day, ultimately widening its losses in the afternoon. The KOSDAQ also fell, closing at 644.78, down 17.90 points (2.70%). While foreign and institutional investors bought a net 1.33 trillion won and 665 billion won, respectively, they were unable to reverse the downward trend.Samsung Electronics initially supported the market, with its stock surging 8.39% to 226,000 won after announcing record earnings for three consecutive quarters, temporarily boosting sentiment for semiconductor stocks. SK Hynix also saw a brief rise of 4.14%. However, both stocks later reversed course, closing down 0.72% and 5.64%, respectively, causing the KOSPI to relinquish its earlier gains.As foreign and institutional investors defended the index, individual investors sold off a net 1.42 trillion won in the KOSPI. The decline in investor sentiment is further reflected in the drop in deposits. According to the Korea Financial Investment Association, investor deposits stood at 109.593 trillion won as of July 29, a 21.55% decrease from this year's peak of 139.695 trillion won on June 4. The scale of margin trading has also decreased, with the combined balance for the KOSPI and KOSDAQ markets falling to 32.995 trillion won, down 14.59% from 38.633 trillion won on June 24.Brokerages that had previously raised target prices for Samsung Electronics and SK Hynix, driven by an anticipated AI semiconductor supercycle, have recently begun to lower their forecasts. According to financial information provider FnGuide, Shinhan Investment Corp. cut its target price for SK Hynix from 4.2 million won to 2.7 million won, Hanwha Investment & Securities from 4.3 million won to 3.15 million won, NH Investment & Securities from 4.1 million won to 3.4 million won, and Daishin Securities from 3.9 million won to 3.2 million won. The previous day, Mirae Asset Securities reduced its target price for Samsung Electronics from 550,000 won to 370,000 won, a 33% decrease.Market analysts believe that the recent stock price adjustments are more influenced by a decline in investor sentiment than by actual performance. Han Ji-young, a researcher at Kiwoom Securities, noted, "Currently, negative narratives surrounding the semiconductor sector, such as profit peak-out and the end of the AI investment cycle, are forming. However, it is important to recognize that fundamental deterioration has not yet materialized, and earnings estimates are not significantly declining. We expect a rebound as we approach the major earnings events scheduled for early August."* This article has been translated by AI. 2026-07-30 18:24:00
  • Jang Dong-hyuk: Special Investigation into Election Commission Can Cover All Elections
    Jang Dong-hyuk: Special Investigation into Election Commission Can Cover All Elections 장동혁 국민의힘 대표는 30일 지방선거 투표용지 부족 사태의 진상 규명을 위한 '선거관리위원회 특별검사법'이 국회 본회의를 통과한 것과 관련해 "이번 지방선거와 총선, 대선은 물론 필요하다면 그 이전의 지방선거까지 공소시효만 남아있다면 모든 수사가 가능하다"고 밝혔다. 장 대표는 이날 국회에서 기자회견을 열어 "오늘 통과된 특검법의 주요 내용은 두 가지"라며 특검 추천 방식과 수사 대상에 대해 설명했다. 그는 특검 추천 방식에 대해 "더불어민주당에서 3명, 국민의힘에서 3명 총 6명으로 구성되는 '특검 후보 국민추천위원회'를 구성한다"며 "후보 추천에 관해서는 6명이 전부 출석한 상태에서 전원이 찬성해야 한다"고 했다. 이어 "국민의힘이 추천한 3명 위원 중에서 단 1명이라도 반대하면 특검을 추천할 수 없는 구조"라며 "객관적이고 중립적인 특검 후보가 추천될 때까지는 특검 후보 추천이 이뤄지지 않을 것"이라고 강조했다. 쟁점이 됐던 수사 대상에 대해서는 "선거를 관리하는 전산 시스템, 개표 관리 시스템이든 선거인명부든 선거 처음부터 끝까지 투표에서부터 개표를 하고 후보자를 결정하는 그 모든 선거관리 시스템이 수사 대상"이라며 "서버에 대한 해킹이 있었는지 여부 등에 대한 수사도 당연히 가능하다"고 했다. 또한 "그동안 제기돼 왔던 선거관리 시스템에 대한 모든 의혹들을 수사할 수 있도록 수사 대상이 법에 명시돼 있다"며 "이제 남은 것은 특검을 제대로 추천해서 임명하는 것"이라고 언급했다. 그는 "수사 범위에 대해서 합의가 이뤄질 수 있었던 것은 6월 3일부터 오늘까지 거의 60일 가까이 참정권 회복을 위해서 열심히 싸우고 계신 시민들 덕분"이라며 "선관위 국정조사특위 활동 기한이 8월 31일까지로 연장됐다. 특검 추천이 그 전에 이뤄져서 국조특위 재검표 과정에 특검이 참여하도록 하겠다"고 덧붙였다. * This article has been translated by AI. 2026-07-30 18:24:00
  • Financial Authorities to Implement New Regulations on Single-Stock Leverage Products
    Financial Authorities to Implement New Regulations on Single-Stock Leverage Products In response to the volatility in the stock market attributed to single-stock leverage products, financial authorities are moving to establish individual investment limits. This measure aims to mitigate excessive concentration by restricting investors from allocating the majority of their assets to single-stock leverage products.On July 30, the Financial Services Commission (FSC) released a detailed plan for additional measures regarding single-stock leverage products, following an emergency market situation assessment meeting held the previous day with relevant government departments.The core of the new measures is the establishment of individual investment limits. The FSC plans to require each brokerage firm to set investment limits for single-stock leverage products on a per-account basis, with the method of determining these limits to be developed through discussions with relevant agencies and the industry. One proposed example is to limit investments in single-stock leverage products to within 20% of the total investment amount in financial products.The FSC expects that this will prevent individuals from taking on excessive risks by investing most of their assets in single-stock leverage products. Detailed plans will be jointly developed by the Korea Financial Investment Association, the FSC, the Financial Supervisory Service, and the Korea Exchange.Additionally, the authorities will strengthen transaction cost burdens to curb excessive short-term trading. They are considering imposing additional costs on investors who excessively trade single-stock leverage products, similar to the 'excessive order burden fee' currently in place in the derivatives market. The specifics regarding the targets, methods, and levels of these costs will be finalized after discussions with exchanges and the industry.Investor protection measures will also be enhanced. Currently, only pre-investment education is mandatory for individual investors, but there are plans to require completion of simulated trading, similar to the requirements for exchange-traded derivatives. The FSC aims to encourage investors to understand the risks of the products thoroughly before investing through simulated trading.Furthermore, the financial authorities are pushing for amendments to the Capital Markets Act to enable rapid implementation of market stabilization measures in the event of sudden market instability. Drawing on the 'Flexible Leverage' system recently adopted by the Hong Kong Securities and Futures Commission, which allows adjustments to the leverage ratios of products based on asset management capabilities, the FSC plans to establish a legal basis for timely actions without the need for separate legislative amendments during emergencies.Previously, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol held an emergency market situation assessment meeting on July 29 with the Bank of Korea Governor, the FSC Chair, and the Financial Supervisory Service Head to discuss responses to the recent stock market decline. Participants expressed concerns that the concentration of investments in single-stock leverage products is exacerbating market volatility and agreed to implement existing supplementary measures, such as raising the basic deposit requirement, as scheduled starting July 31, while swiftly advancing additional measures.The FSC stated, 'We plan to promptly develop detailed plans for each major task centered on the responsible agencies and implement them as soon as possible.'* This article has been translated by AI. 2026-07-30 18:16:10
  • Investors Face Bankruptcy as Stock Market Plummets, Reporting Losses of Up to 96.8%
    Investors Face Bankruptcy as Stock Market Plummets, Reporting Losses of Up to 96.8% As the domestic stock market experiences extreme volatility and continues to decline, retail investors who invested recklessly in leveraged products or margin trading are facing bankruptcy.Recent posts on investment forums and online communities have flooded in, with individuals expressing their despair over losses caused by the stock market crash.One investor shared a shocking account showing that their total account balance had plummeted to just 8,175 won, reflecting a -96.83% return and nearly 100 million won in losses due to margin trading.There are also reports of individuals losing their down payments and interim payments for real estate investments. One investor who had purchased an apartment in Dongtan began leveraging investments to secure the interim payment but suffered losses exceeding half of their investment. They lamented, "I can’t secure the interim payment even after exhausting my retirement funds and taking out loans."Another tragic story emerged from an investor who lost their entire life savings after investing heavily in a single leveraged product tied to SK Hynix. They reported a valuation loss of 2.2 billion won (-78.7%). The investor stated, "I sold my house to invest, but ultimately went bankrupt. I deeply regret the atmosphere that encouraged stock investment."Experts warn that in the current environment of heightened stock market volatility, high-risk leveraged products and margin or credit trading can lead to catastrophic losses that exceed the principal amount during market downturns. They emphasize that reckless investments aimed at short-term high returns can result not only in personal bankruptcy but also in family breakdowns, necessitating extreme caution.* This article has been translated by AI. 2026-07-30 18:12:00
  • KB Kookmin Bank and Japans MUFG Successfully Test Cross-Border Payment with Deposit Tokens
    KB Kookmin Bank and Japan's MUFG Successfully Test Cross-Border Payment with Deposit Tokens KB Kookmin Bank has successfully completed a cross-border payment experiment using deposit tokens in collaboration with Japan's MUFG Bank.On July 30, Kookmin Bank announced that it had verified cross-border payment scenarios as part of its participation in 'Project Agora,' a joint initiative by the Bank for International Settlements (BIS) and the Institute of International Finance (IIF).Project Agora aims to validate the efficiency and stability of cross-border payments using deposit tokens and tokenized central bank reserves.Kookmin Bank worked with MUFG to test a deposit token payment scenario based on the Japanese yen. This marks the first time a domestic commercial bank has conducted a foreign currency payment test with an overseas bank using deposit tokens. The bank plans to participate in the next phase of Project Agora to further validate related technologies and business models.A Kookmin Bank official stated, "This experiment confirmed the potential of next-generation payment infrastructure in collaboration with global financial institutions. We aim to respond to changes in the cross-border payment market and enhance our digital financial competitiveness."* This article has been translated by AI. 2026-07-30 18:08:00
  • KLPGA Tour K-Food Nolbu-Hwami Masters Canceled, Reducing Season to 30 Events
    KLPGA Tour K-Food Nolbu-Hwami Masters Canceled, Reducing Season to 30 Events The KLPGA Tour's K-Food Nolbu-Hwami Masters, scheduled for September 25-27, has been canceled.On July 30, the KLPGA Tour announced, "The K-Food Nolbu-Hwami Masters has been regrettably canceled due to circumstances on the part of the organizer." The K-Food Nolbu-Hwami Masters is organized by Nolbu, a Korean cuisine franchise, and Hwami, a food ingredient company. The tournament was established last year.In the inaugural event, Hong Jung-min claimed victory with a total score of 12-under-par 204, edging out Seo Kyo-rim by one stroke.This year, the tournament was also set to take place during the Chuseok holiday, but the organizers recently informed the KLPGA Tour of their decision to cancel.With this cancellation, the KLPGA Tour's schedule has been reduced from 31 to 30 events this season. The total prize money has also decreased from 35.2 billion won to 34 billion won.The number of KLPGA Tour events was 30 in 2022, increased to 32 in 2023, then reduced to 31 in both 2024 and 2025. This year marks another decrease, bringing the total to 30 events.* This article has been translated by AI. 2026-07-30 18:08:00