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South Korean military nearly shot down U.S. drone near border SEOUL, July 31 (AJP) - South Korean forces nearly shot down a U.S. Marine Corps drone flying near the inter-Korean border after front-line units failed to identify it as part of an allied exercise, military sources said Friday. The incident occurred Thursday afternoon in the northern border city of Paju, Gyeonggi Province, where U.S. Marines were conducting training as part of KMEP, a combined exercise between the South Korean and U.S. Marine Corps. As part of the drill, the U.S. Marines launched a fixed-wing reconnaissance drone over the area. But South Korean military authorities said the flight plan had not been properly relayed to relevant front-line units. The Army’s Ground Operations Command reportedly assessed the unidentified drone as a possible aerial threat and activated “Durumi,” an air defense response posture designed to counter North Korean drone infiltrations. The system can involve the deployment of air defense assets, including anti-aircraft guns. No live fire took place. The Joint Chiefs of Staff confirmed at around 3:30 p.m. Thursday that the aircraft was a U.S. military drone, according to military officials. Under military procedures, drone flights near the Military Demarcation Line must be reported in advance to the Army’s Ground Operations Command and receive prior approval. South Korean military officials said the U.S. side had not completed the required procedure. U.S. Forces Korea, however, said the flight plan for the drone, which was participating in the combined exercise, had been shared with the South Korean military in advance. The incident has raised questions over the allies’ reporting and information-sharing systems, as a communication failure nearly led to a serious mishap involving the possible shootdown of an allied aircraft. USFK described the case as an “incident” and said it is assessing what happened while continuing to coordinate with the South Korean Marine Corps and local authorities. 2026-07-31 10:33:26 -
2026 Hwacheon Tomato Festival Kicks Off for Ten Days The 2026 Hwacheon Tomato Festival, a highlight of the summer in Hwacheon County, is set to begin on July 31. This marks the first festival under the Minseon 9th administration, expanding the duration from three days to a record ten days and relocating the venue to Sain Sports Park, aiming to enhance stay-type tourism and revitalize the local economy.According to Hwacheon County, the 22nd annual festival will kick off at 6 p.m. with a pre-show, followed by a harmony dinner at 6:20 p.m. and an opening ceremony at 7:30 p.m. The festival will continue until the closing ceremony on August 9 at 4 p.m.This year’s festival features significant changes in both duration and location. The event has been extended from three days to ten, and the venue has moved from the cultural village in Sachang-ri to Sain Sports Park.The expanded venue is designed to alleviate parking issues and improve visitor flow, providing a more comfortable environment for attendees.Experience programs have also diversified. The main event, “Find the Golden Ring,” will feature 44 tons of discarded tomatoes, with 36 gold rings offered as prizes.Performances by military bands, local artists, and invited singers will take place. Programs such as “Soldiers’ Night” in collaboration with local military units and a nationwide tomato singing contest will engage tourists, residents, and soldiers alike.A nearby valley has been developed for family-friendly water activities, featuring a fountain and an artificial waterfall to enhance the summer festival atmosphere.On the morning of July 31, final facility checks were underway at Sain Sports Park ahead of the opening. Staff were busy inspecting stages and sound systems, ensuring visitor pathways and safety measures were in place.Hwacheon County plans to invigorate the local economy through a festival that brings together tourists, residents, businesses, and military personnel.On July 30, just a day before the opening, Hwacheon County Council Chair Jo Woong-hee and council members visited the festival site to assess preparations. They received updates on the festival’s status and operational plans from officials and inspected key facilities for safety and overall management.This festival is seen as a crucial test of the Minseon 9th administration’s stay-type tourism policy. The success will depend on how long visitors stay and their spending on accommodations, food, and local products.With the local economy facing challenges due to military downsizing and closures, there is hope that this festival will serve as a turning point for the Sachang-ri commercial area. The extended festival duration is expected to increase visitor stay and spending, potentially revitalizing the struggling local economy.Community interest is high regarding the changes this first large-scale festival under the Minseon 9th administration will bring to the Sachang-ri commercial area and Hwacheon tourism.* This article has been translated by AI. 2026-07-31 10:32:00 -
LG CNS Reports Second Quarter Operating Profit of 127.9 Billion Won, Down 9.2% LG CNS reported second quarter revenue of 1.52 trillion won and an operating profit of 127.9 billion won. While revenue increased by 4.2% compared to the same period last year, operating profit fell by 9.2%.For the first half of the year, the company recorded revenue of 2.83 trillion won and an operating profit of 222.1 billion won, marking increases of 6.1% and 1.1%, respectively, from the previous year. The company noted a growing share of external business revenue across all sectors.Revenue from LG CNS's core growth drivers, the artificial intelligence (AI) and cloud sectors, reached 1.67 trillion won in the first half, a 5.1% increase year-on-year, accounting for approximately 59% of total revenue.In the cloud sector, external business performance in data centers has been notable. As competition in AI data centers shifts towards design, build, and operate (DBO) capabilities, the company has seen sustained revenue from hyperscale AI data center projects in locations such as Samseong and Jukjeon.During the first half, LG CNS secured over 1 trillion won in large DBO projects and introduced a modular AI data center as a new business model. Recently, it launched the 'XPU Works' platform, allowing subscription access to AI infrastructure, including graphics processing units (GPUs) and neural processing units (NPUs). The company aims to solidify its position as the leading DBO provider in South Korea.In the AI sector, LG CNS is strengthening its manufacturing and logistics AX business with external clients such as Doosan, the Korea Federation of Small and Medium Businesses, Curly, and LX Pantos. The company is also expanding its portfolio into industries such as pharmaceuticals, aviation, defense, and shipbuilding. In its core areas of finance and public sectors, it is generating business innovation cases based on its agent AI platform, 'Agentic Works.' Additionally, it is establishing close partnerships with global AI tech giants like OpenAI, Palantir, and Anthropic to acquire new clients.Revenue from the smart engineering business in the first half increased by 6.2% to 502.4 billion won. The smart factory business is seeing revenue conversion from external projects won in defense, shipbuilding, semiconductor, and pharmaceutical sectors.LG CNS is enhancing the intelligence of manufacturing plants for domestic and international companies through its AI smart factory solution, 'Factoba.' The smart logistics business has seen revenue growth from logistics automation center projects targeting external clients in beauty, food, and fashion.Revenue from the digital business services sector in the first half rose by 8.8% to 662.1 billion won, with growth across all areas of the financial sector, including banking, property insurance, and life insurance. Collaboration with global financial clients is also expanding.In the physical AI sector, LG CNS plans to strengthen its robot learning and operation platform, 'Physical Works,' and enhance humanoid robot learning and field application verification based on industry-specific robot foundation models (RFM).To achieve this, the company will enhance collaboration with group companies under the 'One LG' initiative. Recently, LG CNS signed a contract worth approximately 190 billion won for physical AI infrastructure with LG Electronics, which includes supplying essential AI infrastructure based on GPUs and the Physical Works platform for LG Electronics' humanoid robot proof of concept.LG CNS is also expanding its robot transformation (RX) ecosystem by partnering with promising robotics companies such as Skilled AI, Config, Dexmate, and Genesis AI. The company plans to accelerate the commercialization of robots by optimizing both general-purpose and technically complex 'robot hand' RFMs for industrial applications. Furthermore, discussions are underway for RX collaboration with NVIDIA, Google DeepMind, and AWS to strengthen the global ecosystem.LG CNS aims to continue expanding its global business. It is set to complete its AI data center project in Indonesia, the first overseas contract won by a domestic company, in the second half of the year.Following its participation in a global logistics and manufacturing exhibition in the first half, LG CNS will also take part in the world's largest machine tool exhibition, 'IMTS 2026,' in Chicago later this year to enhance its presence in the North American manufacturing AX market. The company also plans to expand its financial digital transformation (DX) business, focusing on the Asia-Pacific and Japan (APJ) regions.* This article has been translated by AI. 2026-07-31 10:28:00
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U.S. Ambassador Michelle Steel Emphasizes Strong U.S.-South Korea Alliance U.S. Ambassador to South Korea Michelle Park Steel emphasized the "unwavering trust" in the U.S.-South Korea alliance, stating, "At this critical time, we must come together to open the next chapter of our alliance, ensuring it remains results-oriented and future-focused." In a guest column titled "U.S.-South Korea Alliance: Strong, Modern, and Results-Oriented," Steel expressed hope for continued cooperation with South Korea to maintain the alliance as a cornerstone for peace and security in the region while meeting the needs of both nations. "Together, we will build an alliance that is safer, stronger, and more prosperous than ever, as envisioned by President Donald Trump," she said. Steel noted that Trump and South Korean President Lee Jae-myung opened a "new chapter" in the alliance during their meeting in Gyeongju last October, adding, "I will do my utmost to faithfully implement the vision presented by President Trump in Gyeongju." She highlighted that under Trump's leadership, the U.S. is modernizing and deepening the U.S.-South Korea alliance in unprecedented ways, urging collaboration to rebuild and expand key industries, respond to strategic threats to the alliance, and uphold shared democratic principles. During the October meeting, the two leaders reached agreements on tariffs and security, which were announced in a joint fact sheet in November. The agreements included a $350 billion investment from South Korea to rebuild and expand key industries in the U.S., U.S. tariff reductions, increased South Korean defense spending, and leadership in joint conventional defense against North Korea, all aimed at modernizing the alliance and coordinating on issues related to the Korean Peninsula and the region. "Since 1953, the U.S.-South Korea alliance has served as a linchpin for peace, security, and prosperity in Northeast Asia, the broader Indo-Pacific region, and beyond," Steel stated. "Our economic ties, combined defense posture, and enduring friendship between our peoples are evidence of a partnership that benefits both nations and maintains regional stability." She acknowledged that many challenges remain, stating, "We must not underestimate these challenges. While we have made excellent progress on many shared priorities, other issues require more attention, candid dialogue, and a willingness from both sides to seek paths to mutual benefit beyond our differences." Born in Seoul in 1955 and immigrating to the U.S. in 1975, Steel described many Korean American families like hers as "living proof of the enduring ties between our two countries." She shared that her mother, who ran a small clothing store, faced unfair treatment from tax authorities, which inspired her to pursue a career in public service. "I am deeply honored and humbled to take on the responsibility of returning to the country where I was born to work for the American people on behalf of President Trump," she said.* This article has been translated by AI. 2026-07-31 10:28:00
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Hamyang County Accelerates Disaster Recovery Efforts in Imho District Hamyang County in South Gyeongsang Province is making steady progress on the "Imho District Improvement Project," aimed at preventing future disasters in Imho Village, which suffered damage from heavy rainfall last year.In preparation for the upcoming rainy season, the county is taking proactive measures to ensure that key debris control facilities function effectively, focusing on building a safety net at the site.According to Hamyang County, the project is part of a recovery initiative funded by the Ministry of the Interior and Safety, with a total budget of 31 billion won (50% from the national government, 25% from the provincial government, and 25% from the county). While there were no casualties during the landslide and flooding in July of last year, the county aims to comprehensively link the restoration of the upper forest areas with improvements to the lower village drainage system to fundamentally prevent future natural disasters.Currently, the recovery progress in the upper forest area is about 60%, while general civil engineering work, including the installation of new drainage pipes in the lower village, stands at approximately 30%. Concerns had been raised about potential additional damage during this summer's rainy season due to the disparity in progress rates, but key defensive measures have already been established at the site.A representative from the Hamyang County Forest and Greenery Division stated, "We have proactively completed the installation of debris dams in the upper area. Even if sediment or debris flows down during heavy rainfall, the debris dam will initially filter it, preventing damage to the lower village."The lower construction work, which has a relatively lower progress rate, is also accelerating to meet the October completion target. Relevant departments, including the Construction and Transportation Division, are intensively deploying equipment to synchronize the upper recovery work and complete both simultaneously.Customized measures are also being implemented to prevent inconvenience and safety accidents for residents during the construction period.Imho Village has narrow access roads and a significant number of elderly residents who primarily use electric carts, raising concerns about the risk of falls during construction. In response, the county has secured a bypass road to allow residents to safely navigate around hazardous areas.Hamyang County is committed to thorough post-completion management after the project wraps up in October. Continuous monitoring of the site will be conducted to prepare for sediment or debris accumulation in the debris control facilities, along with regular dredging operations to ensure that disaster prevention functions are maintained at 100% capacity.A county official remarked, "The comprehensive recovery project in the Imho District is our top priority for disaster prevention to protect the lives and property of residents. We will do our utmost to ensure thorough management of the construction process and safety until the very end, allowing residents to live without worry during heavy rainfall."* This article has been translated by AI. 2026-07-31 10:20:00
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Korean Stock Market Soars as Samsung and SK Hynix Surge Over 20% The Korean stock market is experiencing an unprecedented surge, with explosive gains across the board.On this day, the KOSPI index recorded a remarkable increase of over 14% in just one day. It opened at 6,385.83, while the KOSDAQ index also rose by more than 6%, reaching 683.64, adding vitality to the overall market.The early gains were primarily driven by major semiconductor stocks related to artificial intelligence (AI). SK Hynix, which saw the highest trading volume, surged 22.69% to open at 1,622,000 won, buoyed by news of Chairman Chey Tae-won's share buyback and expectations of significant benefits from the global AI boom. Samsung Electronics also recorded over 4 trillion won in trading volume, starting at 253,000 won, a 22.22% increase.Companies involved in components and equipment also saw significant gains. Samsung Electro-Mechanics jumped 23.44% to open at 1,085,000 won, while SK Square rose 23.90% to 990,000 won. Leading internet company Naver opened at 204,500 won, up 5.03%. Hanmi Semiconductor, noted for its AI semiconductor equipment, soared 21.72% to start trading at 204,000 won.The reasons for this surge can be summarized in three key points. First, stable economic indicators from the United States have led to a lowered expectation of further interest rate hikes, prompting a significant influx of investment funds into the stock market due to eased loan and interest burdens.Second, earnings reports from major U.S. IT companies like Microsoft and Amazon alleviated concerns about over-investment in the AI sector. Despite substantial expenditures, these companies demonstrated strong cash flow and financial health, leading to increased expectations for Korean semiconductor firms as they announced plans to boost AI investments.Third, foreign investors have shown a strong buying interest, purchasing approximately 3.3 trillion won worth of stocks in the KOSPI market alone from the outset. This concentrated buying of Korea's large-cap stocks contributed to the KOSPI's 14% jump at the market's opening.Experts believe this upward trend is likely to continue for the time being. While the initial surge may lead to some price corrections or a breather, the influx of 3.3 trillion won from foreign investors is expected to provide a solid foundation for the market.As long as major U.S. tech companies continue their AI investments, improvements in the performance of Korean semiconductor firms are inevitable. Therefore, analysts suggest that the upward trajectory is likely to be sustained in the near term.* This article has been translated by AI. 2026-07-31 10:16:20
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HS Hwasung Reports 300% Increase in Q2 Operating Profit, Shares Surge 19% HS Hwasung has seen its operating profit for the second quarter increase by over 300% compared to the same period last year, leading to a surge of nearly 19% in its stock price.According to the Korea Exchange, as of 10:07 a.m. on July 31, HS Hwasung's shares were trading at 47,950 won, up 7,900 won (19.43%) from the previous trading day.On the previous day, HS Hwasung announced that its consolidated revenue for the second quarter reached 430.9 billion won, a 24.9% increase from the same period last year. Operating profit rose to 35.8 billion won, up 301.7%, while net profit increased to 27.1 billion won, a 360.6% rise.Market analysts attribute the strong performance to improvements in its key subsidiary, HS Hwasung Advanced Materials. The subsidiary reported second-quarter revenue of 952.7 billion won, a 13.0% increase year-on-year, with operating profit rising to 77.6 billion won, up 32.2%.Notably, the tire reinforcement materials segment recorded its highest revenue since 2022, reaching 549.3 billion won, driven by seasonal demand and price increases for raw materials. The operating profit for this segment was reported at 59.4 billion won.The strong second-quarter results have improved investor sentiment. Initially, the stock price surged to the daily limit but later retraced some gains while maintaining a robust 19% increase.* This article has been translated by AI. 2026-07-31 10:16:00
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Homeplus Employees Tighten Their Belts as Restructuring Efforts Intensify Homeplus management and labor unions have agreed to implement stringent measures to delay salary payments and reduce certain employee benefits as part of efforts to normalize operations and facilitate corporate restructuring.On July 31, Homeplus announced that its two labor unions, the Homeplus Mart Union and the Korean Confederation of Trade Unions Homeplus General Labor Union, along with the employee representative body Hanmaeum Council, have committed to working together to expedite the normalization of operations and ensure the smooth execution of the ongoing restructuring plan.Earlier, on July 27, the labor and management held a meeting to discuss alleviating the company's liquidity burden and securing funds for operational normalization. They agreed to temporarily adjust the timing and method of payments for certain employee benefits.Specifically, the regular bonuses scheduled for payment in September will be distributed in six equal installments. Salaries will also be delayed by two months until March of next year, meaning that July salaries will be paid in September.The employment stability payment, which was previously up to 12 months of base salary for employees at closed stores, will no longer be provided. Additionally, the transition compensation for employees reassigned from closed stores will be paid in six installments.Homeplus plans to prioritize the use of 200 billion won in emergency operating funds for stabilizing product supply, normalizing operations, employee salaries, and essential operating costs.A Homeplus official stated, "Despite the company being in a very difficult situation, both labor unions and employees have made tough decisions for normalization. We will focus all our efforts on restoring operational stability and corporate value to ensure that employees' sacrifices and cooperation are not in vain." 2026-07-31 10:12:20
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LG CNS Q2 profit falls despite higher revenue on cost pressure SEOUL, July 31 (AJP) - LG CNS posted a 9.2 percent drop in second-quarter operating profit, as rising costs outweighed steady sales growth at the South Korean IT services provider. According to a preliminary regulatory filing released Friday, operating profit fell to 127.9 billion won ($89.1 million) in the April to June quarter from 140.8 billion won a year earlier, even as revenue climbed 4.2 percent to 1.52 trillion won. Net income rose 19.9 percent to 118.7 billion won. The firm said that the revenue gain was driven by expanding external contracts across all business lines, particularly in artificial intelligence and cloud services, which the firm has flagged as its core growth engine. In its cloud business, LG CNS said it had won more than 1 trillion won in large-scale data-center contracts and cemented its position as the country's top operator of hyperscale AI data centers under the design, build and operation model. "External sales rose across every division and led our top-line growth," the company said, adding that it recently signed a roughly 190 billion won physical-AI infrastructure deal with affiliate LG Electronics to supply humanoid-robot training platforms and GPU-based systems. For the first half, revenue rose 6.1 percent to 2.84 trillion won and operating profit edged up 1.1 percent to 222.1 billion won, with AI and cloud accounting for about 59 percent of total sales. Shares of LG CNS traded at 63,700 won per stock at 10:02 a.m., 9.45 percent higher than the previous session. 2026-07-31 10:05:15 -
KB Life Explores Solutions to Care and Isolation Issues from Youth Perspectives KB Life Foundation has released the 'KB Social Lab Report,' which outlines solutions to social blind spots related to care, isolation, and senior issues, developed in collaboration with 29 university students. The foundation announced the results of the first phase of the 'KB Life Social Lab' on July 30 at the KB Life Tower in Seoul. Participants conducted field interviews and research on various topics, including the psychological struggles of young caregivers, the social reintegration of isolated youth, educational exclusion of students with borderline intellectual functioning, childbirth and parenting challenges for at-risk pregnant women, emotional poverty among elderly residents in care facilities, and the declining housing options for the elderly. Based on their findings, six teams redefined these social issues from the perspective of those affected and included solutions at the policy, corporate, and civil society levels in their report. Park Min-ha, Executive Director of the KB Life Foundation, stated, “We will strive to ensure that the outcomes created by the participants can be utilized to drive real social change.”* This article has been translated by AI. 2026-07-31 10:04:00