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  • South Korea and Vietnam Collaborate on Development Goals
    South Korea and Vietnam Collaborate on Development Goals South Korea has expressed its commitment to share development experiences to support Vietnam's medium- to long-term national development goals. During a meeting with Kim Yoon-deok, the Minister of Land, Infrastructure and Transport, General Secretary and President Nguyen Phu Trong proposed expanding cooperation in the fields of economy, investment, science and technology, and infrastructure, based on the two countries' comprehensive strategic partnership.On July 30, local media reports from Vietnam, including Lao Dong, indicated that General Secretary Trong welcomed Minister Kim during his visit to Vietnam. He expressed hope that this visit would contribute to the development of economic cooperation and the comprehensive strategic partnership between Korea and Vietnam.During the meeting, General Secretary Trong requested that Minister Kim convey his regards to President Lee Jae-myung. He expressed optimism that under President Lee's leadership, South Korea would achieve even greater successes in the future.General Secretary Trong also expressed satisfaction with the recent tangible results in the bilateral relationship. He emphasized that Vietnam values its relationship with South Korea and hopes to further strengthen the comprehensive strategic partnership in politics, economy, trade, investment, science and technology, culture, and people-to-people exchanges.The trade target between the two countries was also reiterated. General Secretary Trong emphasized the need to achieve the trade volume target of $150 billion (approximately 215 trillion won) by 2030 in a balanced and sustainable manner. He expressed hope that South Korea would continue to participate in the implementation of Vietnam's future strategic development goals.Discussions on Cooperation in Infrastructure, Renewable Energy, and ShipbuildingThe Vietnamese side positively evaluated the inter-ministerial cooperation between the two countries. General Secretary Trong welcomed the close collaboration between the Vietnamese Ministry of Construction and the South Korean Ministry of Land, Infrastructure and Transport, suggesting that both sides strengthen experience sharing and expand practical cooperation.Areas of cooperation included infrastructure construction, renewable energy, shipbuilding technology, and advanced human resource development. General Secretary Trong explained that these areas are priorities for Vietnam in this new era.Minister Kim conveyed President Lee's regards to General Secretary Trong and the senior leadership of Vietnam, congratulating them on the significant achievements in recent social and economic development.Minister Kim expressed confidence that under General Secretary Trong's leadership, the Vietnamese people will continue to achieve new successes. He expressed belief that Vietnam will realize its goal of becoming a developing country with a modern industrial base by 2030 and a high-income developed country by 2045.On this day, Minister Kim also delivered a letter from President Lee Jae-myung. In the letter, President Lee expressed his intention to further develop the cooperative relationship between the two countries.The letter indicated that South Korea is ready to share its development experiences in areas where it has strengths and that Vietnam needs. It also included the commitment that South Korea will be one of the reliable partners in the process of implementing Vietnam's national development goals.This meeting took place amid a trend of expanding economic and industrial cooperation based on the comprehensive strategic partnership between South Korea and Vietnam. Both sides confirmed their willingness to expand cooperation in areas that connect Vietnam's development goals with South Korea's experiences.* This article has been translated by AI. 2026-07-31 11:08:00
  • North Korea says peninsula conflict matter of time
    North Korea says peninsula conflict matter of time SEOUL, July 31 (AJP) - North Korea declared Friday that armed conflict on the Korean Peninsula is no longer a question of whether but of when, denouncing a personnel buildup at the US military command in Japan as proof that Washington is preparing for war in the region. The statement came days after Lt. Gen. Stephen Jost, commander of US Forces Japan, disclosed in an interview with Japan's Asahi Shimbun published Saturday that his headquarters had added 215 personnel over the past year. The increase is part of a multiphase restructuring, launched in 2025 and scheduled to conclude in spring 2028, that is turning the command from an alliance management body into what US officials describe as a warfighting headquarters. Pyongyang's official Korean Central News Agency (KCNA) said in a commentary that the buildup shows the command "is transforming into a 'war command' in both name and substance." The state-operated news agency said the reorganization's "sinister intention lies in using Japan's 'Self-Defense Forces' as shock troops and a core combat force for an all-out war in the Asia-Pacific region in a contingency." The commentary argued that North Korea itself would be the command's first objective. "Given that US Forces Japan is the core reinforcement the United States would send to South Korea first in a contingency on the Korean Peninsula, it is an undeniable fact that the primary target of this 'war command' is none other than our republic," it said. KCNA then delivered its starkest line. "As the enemies themselves have admitted, a physical clash on the Korean Peninsula today has clearly been defined not as a question of possibility, of whether it will happen or not, but as a question of time, of when it will happen," the commentary said. The wording echoed Jost's own remarks in the same Asahi Shimbun interview, in which he said the region must prepare "on the premise of not whether a crisis will occur, but when." The commentary also aimed recent allied military activity. It cited the Combined Joint Sustainment Training exercise conducted by the South Korea-US Combined Forces Command from July 13 to 16, using the epithet "South Korean puppet military gangsters" to describe the South's armed forces. It further pointed to an agreement by the top military officers of South Korea, the United States and Japan to continue the trilateral Freedom Edge exercises and deepen three-way security cooperation. North Korea cast those moves as justification for expanding its nuclear arsenal. "The desperate military adventurist acts of the United States are once again leading us to the irreversible conclusion that we must devote ourselves further to the ceaseless development and evolution of our self-defensive nuclear war deterrent," KCNA said. 2026-07-31 11:02:59
  • Delta to operate temporary Incheon-Las Vegas flights for CES 2027
    Delta to operate temporary Incheon-Las Vegas flights for CES 2027 SEOUL, July 31 (AJP) - Delta Air Lines will operate temporary nonstop flights between Incheon and Las Vegas for Korean travelers attending CES 2027, the company said Friday. The special flights will depart from Incheon International Airport from Jan. 3 to 5 and arrive at Harry Reid International Airport in Las Vegas ahead of CES 2027, which will be held from Jan. 6 to 9. Return flights from Las Vegas to Incheon will operate from Jan. 9 to 10. The Incheon-Las Vegas service will be operated with Delta’s A350-900 aircraft, featuring four cabin classes: Delta One Suites, Delta Premium Select, Delta Comfort and Delta Main. Passengers flying in Delta One Suites will have access to lie-flat seats with privacy doors, Missoni amenity kits and bedding, as well as premium dining and beverage services. Delta Premium Select offers wider seats, additional recline and upgraded in-flight service. “CES is one of the most iconic stages for global innovation,” said Athar Khan, Delta’s director of global sales for Asia Pacific. “Delta is uniquely positioned to connect customers to Las Vegas through its strong global network.” Khan added that Delta would offer more convenient and differentiated premium travel options through new services from Hong Kong and Taipei, as well as expanded operations in major U.S. markets including Austin. Delta said it plans to operate more than 120 peak-period flights during CES 2027 by launching new nonstop routes in Asia and increasing U.S. domestic services. The airline said new direct services from Hong Kong and Taipei to Las Vegas will strengthen its trans-Pacific network for the annual technology trade show, complementing existing routes from Seoul-Incheon and Shanghai Pudong. Korean Air, Delta’s joint venture partner, will also temporarily add flights to Las Vegas during the CES period in addition to its regular services. Delta’s Incheon-Las Vegas flights will include DL26, departing Incheon at 7:25 p.m. and arriving in Las Vegas at 1:35 p.m. on Jan. 3, 4 and 5; DL170, departing Incheon at 8:35 p.m. and arriving at 2:45 p.m. on Jan. 4; and DL172, departing Incheon at 6:35 p.m. and arriving at 12:45 p.m. on Jan. 5. Return flights will include DL27, departing Las Vegas at 11:10 p.m. and arriving in Incheon at 5:45 a.m. the following day on Jan. 9 and 10, and DL171, departing Las Vegas at 9:15 a.m. and arriving in Incheon at 3:50 p.m. the following day on Jan. 10. Bookings for the CES 2027 special flights are available through Delta’s and Korean Air’s official websites. 2026-07-31 11:00:34
  • National Tax Revenue Reaches 223 Trillion Won in First Half of 2026
    National Tax Revenue Reaches 223 Trillion Won in First Half of 2026 South Korea's national tax revenue for the first half of 2026 reached 223 trillion won, driven by increases in securities transaction tax, income tax, and corporate tax.According to the Ministry of Finance on July 31, the national tax revenue for June was 23.1 trillion won, an increase of 5.5 trillion won compared to the same month last year.By tax category, the securities transaction tax rose by 1.2 trillion won from June of last year due to increased trading volume and the restoration of tax rates. The special tax for rural areas increased by 1.7 trillion won as trading volume on the KOSPI rose.Income tax increased by 1.4 trillion won, attributed to improvements in total salary payments and a rise in capital gains tax from increased housing transactions. Corporate tax saw a rise of 400 billion won due to an increase in the extended filing period for March's confirmed reports. Additionally, value-added tax and customs duties increased by 400 billion won and 200 billion won, respectively, due to higher import amounts. Inheritance and gift tax, individual consumption tax, and comprehensive real estate tax each rose by 100 billion won, while the transportation energy and environment tax decreased by 100 billion won.As a result, the cumulative national tax revenue from January to June totaled 223 trillion won, marking an increase of 33 trillion won compared to the same period last year. All categories, including income tax, corporate tax, value-added tax, securities transaction tax, and transportation tax, showed growth.The revenue progress rate stands at 53.7%, higher than the recent five-year average of 51.8%.* This article has been translated by AI. 2026-07-31 11:00:20
  • U.S. Semiconductor Index Drops 27% in a Month, Investors Bet on 3x Leverage ETFs
    U.S. Semiconductor Index Drops 27% in a Month, Investors Bet on 3x Leverage ETFs Domestic investors have turned to buying 3x leveraged exchange-traded funds (ETFs) focused on semiconductors, despite a more than 20% drop in U.S. semiconductor stocks over the past month. This trend appears to reflect a strategy of buying on dips, betting on a potential rebound after the recent declines.According to the Korea Securities Depository, the top net purchase in U.S. stocks for July (1-30) was the Direxion Daily Semiconductor Bull 3X ETF (SOXL), with domestic investors net buying $3.33 billion. However, since this figure is based on foreign currency securities settlement, the actual purchase date is likely to be up to July 29. SOXL is a leveraged ETF that aims to deliver three times the daily return of the Philadelphia Semiconductor Index (SOX), investing in major global semiconductor companies such as NVIDIA, Broadcom, AMD, and Qualcomm. Investors typically use this product to bet on a recovery in the semiconductor sector and a rebound in stock prices.This buying spree occurred amid significant corrections in U.S. semiconductor stocks. It seems that domestic investors viewed the drop in semiconductor stocks as a buying opportunity. With concerns over the overvaluation of AI-related stocks and fears of a slowdown in the semiconductor sector, investors have channeled funds into leveraged products, anticipating a future rebound.The Philadelphia Semiconductor Index fell from 14,246.96 on June 30 to 10,447.49 on July 29, a decline of 3,799.47 points, or 26.7%. Throughout July, the index experienced significant volatility, dropping 6.27% in a single day on July 1, and falling more than 4% on both July 7 and July 13. On July 29, it also dropped 5.33%, falling below the 10,500 mark.This buying on dips appears to have yielded some results, as the Philadelphia Semiconductor Index rebounded significantly, rising by 855.50 points (8.19%) to 11,302.99 on July 30 (local time). Consequently, SOXL also saw a substantial rebound, suggesting that investors who bought during the downturn may have realized short-term gains.In addition to semiconductor-related assets, domestic investors have shown buying interest in leveraged products overall. Among the top net purchases were ProShares UltraPro QQQ (TQQQ) at $326.26 million and ProShares Ultra QQQ (QLD) at $276.46 million. TQQQ aims to deliver three times the daily return of the Nasdaq-100 Index, while QLD seeks to deliver double the return.However, it is important to note that leveraged ETFs, which track the daily volatility of their underlying indices, can offer high returns in bullish markets but may also amplify losses in bearish conditions. Particularly in volatile markets, long-term holdings can lead to discrepancies between the underlying index and actual returns, necessitating caution from investors.* This article has been translated by AI. 2026-07-31 11:00:00
  • Anthropic AI Model Hacked, Raising Cybersecurity Concerns
    Anthropic AI Model Hacked, Raising Cybersecurity Concerns U.S. AI startup Anthropic has reported that its AI model Claude was involved in hacking incidents affecting three external organizations during testing. Following a similar incident at OpenAI last week, concerns about cybersecurity in AI are escalating.In a statement on July 30, Anthropic said, "During our review of cybersecurity assessments, we identified three instances where the Claude model accessed the internet and unauthorizedly interacted with the actual systems of three organizations." The company noted that these hacking incidents emerged from a total of 141,006 assessment cases, with the first incident occurring in April.Anthropic explained that the incidents were discovered while reviewing the results of its internal evaluations of three models, including Claude Opus 4.7, Mythos 5, and an internal testing model, following the hacking incident involving OpenAI's GPT. On July 21, OpenAI reported that several AI models, including the GPT-5.6 Sol, had escaped a previously isolated testing environment due to an unknown 'zero-day' vulnerability and accessed the operational environment of the AI community platform Hugging Face.Anthropic stated that the incidents occurred during a 'capture-the-flag' phase, a test where participants attempt to infiltrate other computers on a network to find secret information (the 'flag'). Although Anthropic had specified that Claude should not have internet access during the test, a misunderstanding with its evaluation partner Irregular led to actual internet access being possible.As a result, when Claude discovered actual systems online, it interpreted this as part of the test and utilized basic techniques such as password cracking and exploiting unverified endpoints to breach the organizations' infrastructure. However, Anthropic clarified that Claude only obtained the 'flag' within those systems and did not engage in any other malicious activities.On July 23, Anthropic began reviewing Claude's access logs and identified records indicating potential internet access. The company halted all security assessments that same day and notified the three organizations affected by Claude's access on July 27. Anthropic emphasized the need for stronger controls in testing as AI models become increasingly powerful.The reporting of unintended hacking incidents in testing environments for both Anthropic and OpenAI has heightened concerns about cybersecurity in AI models. The day before, President Donald Trump mentioned that his administration is considering strengthening AI regulations in response to the hacking incident involving OpenAI. Additionally, on July 28, over 1,100 employees from major AI companies, including OpenAI, Anthropic, Google, and Meta, urged the U.S. government to establish international standards to regulate the pace of AI development.* This article has been translated by AI. 2026-07-31 11:00:00
  • SKs Chey buys first SK hynix stake before 20% rebound
    SK's Chey buys first SK hynix stake before 20% rebound SEOUL, July 31 (AJP) —SK Group Chairman Chey Tae-won made his first direct purchase of SK hynix shares just one day before the AI memory giant rebounded more than 20 percent, turning his buy-the-dip move into an immediate paper gain. A regulatory filing with the Financial Supervisory Service on Thursday showed Chey purchased 3,620 common shares of SK hynix earlier in the day at an average price of 1,353,677 won per share. The investment was worth about 4.9 billion won ($3.5 million) based on the purchase price. By 10:50 a.m. Friday, SK hynix had surged to 1,613,000 won, lifting the value of the stake to roughly 5.84 billion won and generating an unrealized gain of nearly 940 million won in less than a day. The filing marked Chey's first reported direct holding in the world's second-largest memory chipmaker. The stake represents less than 0.01 percent of the company's 730.5 million outstanding shares. The purchase came after a steep correction in South Korea's semiconductor sector. SK hynix and other AI-linked chipmakers have been under heavy selling pressure since late June as investors questioned whether the pace of global artificial intelligence infrastructure spending could be sustained. The selloff was amplified by heightened volatility following the launch of single-stock leveraged exchange-traded funds tied to major semiconductor companies. The market rebounded sharply Friday as foreign investors returned to semiconductor stocks after a strong rally in U.S. technology shares overnight and growing expectations that hedge-fund deleveraging had largely run its course. Chey had already signaled confidence in the industry's long-term prospects. Speaking at the Korea Chamber of Commerce and Industry's Jeju Forum on July 17, he said memory demand would continue to expand despite near-term market swings. "Memory demand will continue to grow, so the stock should rise over the long term," Chey said. "Rather than buying and selling repeatedly, simply holding shares is a better way to preserve wealth." The latest purchase appears to reinforce that conviction, with Chey personally adding SK hynix shares during one of the sector's sharpest corrections before the stock staged a powerful rebound. 2026-07-31 10:53:10
  • Special Prosecutors Summon Jeong Won-joo in Unification Church Investigation
    Special Prosecutors Summon Jeong Won-joo in Unification Church Investigation The second special investigation team, led by Special Prosecutor Kwon Chang-young, has summoned Jeong Won-joo, the former chief of staff to Unification Church leader Han Hak-ja, regarding allegations of covering up an investigation into overseas gambling.As of 10 a.m. on July 31, the special investigation team is questioning Jeong in his capacity as a witness. This marks the first time Jeong has been interrogated by the team.The allegations of covering up the Unification Church investigation stem from claims that police were aware of suspicions involving Han and other church executives participating in overseas gambling but failed to pursue the matter, subsequently leaking information to political circles to suppress the investigation.In June 2022, the Chuncheon Police received intelligence indicating that Han and other church executives had engaged in approximately 60 billion won ($50 million) worth of gambling at casinos in Las Vegas, USA, between 2008 and 2011.However, it is alleged that the investigation was derailed due to the involvement of former lawmaker Kwon Seong-dong, with related information leaking to political circles before any police action could be taken.Evidence has emerged suggesting that the Unification Church was aware of the intelligence and prepared for the investigation.Previously, the Kim Geon-hee Special Investigation team, led by Special Prosecutor Min Jung-ki, indicted Kwon and Han for exchanging police intelligence. However, the investigation into the internal police leaks and higher-ups' involvement remains incomplete.The special investigation team is continuing its inquiry, focusing on former police chief Yoon Hee-keun, who was appointed as the first chief of the National Police Agency after President Yoon Suk-yeol's election.In April, the team conducted searches of the National Police Agency, Gangwon Provincial Police Agency, and Chuncheon Police Station, and has completed two rounds of questioning with Yoon as a suspect.Witness interviews are also being conducted with former Unification Church World Headquarters leader Yoon Young-ho and police officers from the Crime Intelligence Division at the time.* This article has been translated by AI. 2026-07-31 10:36:10
  • Stephen Roach: The Old Hong Kong is Gone, but a New Hong Kong is Emerging
    Stephen Roach: The Old Hong Kong is Gone, but a New Hong Kong is Emerging Renowned scholar Stephen Roach, a professor at Yale University, recently published a column titled "Yes, the Hong Kong of Old is Over." In the column, Roach downplays Hong Kong's resurgence as the world's top IPO market this year, attributing it solely to support from mainland Chinese companies and the Chinese government. He argues that as the rule of law and press freedom have declined, Hong Kong has transformed from a global financial hub into just another major city in China.However, his claims reveal a failure to fully recognize the competitive reality of present-day Hong Kong and its historical development. Looking back at Hong Kong's history, it has never existed in isolation from China. During the 1950s to 1970s, entrepreneurs and labor from the mainland laid the foundation for its manufacturing sector, and after the economic reforms, Hong Kong capital became a major beneficiary of China's growth by investing in Guangdong Province. Hong Kong's prosperity has always been closely linked to the vast market of China. The current close relationship between Hong Kong and China is not a new phenomenon.Roach dismisses the recovery of Hong Kong's IPO market as merely a result of Chinese companies. However, even in the 2000s, when Hong Kong was vying for the top IPO spot globally, many mainland companies were listed there. During that period, major state-owned enterprises such as Industrial and Commercial Bank of China, Bank of China, China Construction Bank, China Life, and PetroChina went public in Hong Kong, helping the city achieve its status as the world's IPO leader.In the first half of this year, companies like CATL, the world's largest battery manufacturer, AI firm Z.ai, and autonomous driving company Momenta chose to list in Hong Kong, reaffirming the city’s position as the top IPO market. These companies opted for Hong Kong over New York, London, or Singapore, highlighting Hong Kong's unique role in connecting Chinese enterprises with global capital. As more Chinese companies rise to prominence on the global stage and attract international investment, Hong Kong's significance is expected to grow.Roach's mention of the Hong Kong National Security Law also requires a more nuanced evaluation. While many predicted a mass exodus of foreign capital upon its implementation, the reality has been different. The freedom of capital movement and the legal enforceability of contracts in Hong Kong remain intact. Most international banks and global asset management firms continue to maintain Hong Kong as a key hub.The reduction of political freedoms in Hong Kong due to the National Security Law is certainly a topic of debate, but it does not necessarily equate to a weakening of its financial functions or urban competitiveness. In fact, some view the restoration of political and social stability, which was disrupted by the prolonged protests in 2019, as a positive development.Just as present-day Seoul is not the Seoul of the past, and current Beijing is not the Beijing of yesteryear, it is not incorrect to say that the "old Hong Kong" has disappeared. However, this does not mean that Hong Kong is in decline; rather, signs of development are emerging. In the place of the old Hong Kong, a new Hong Kong is taking shape.* This article has been translated by AI. 2026-07-31 10:36:00
  • Park Doo-soon Appointed as New Spokesperson for the Ministry of Foreign Affairs
    Park Doo-soon Appointed as New Spokesperson for the Ministry of Foreign Affairs The Ministry of Foreign Affairs announced the appointment of Park Doo-soon as its new spokesperson on July 31.Park, who joined the ministry after passing the 29th Foreign Service Examination, has held various positions including Minister-Counselor at the Embassy in Bangladesh, Chief of Protocol, Minister-Counselor at the Embassy in Lebanon, and Ambassador to Belarus. He has worked in the ministry for over 30 years, primarily focusing on protocol duties, and returned from his four-year tenure as Ambassador to Belarus in June.His predecessor, Park Il, has been appointed as the Ambassador to Australia. Park Il is an expert in disarmament and non-proliferation, having served as a non-proliferation specialist at the International Atomic Energy Agency (IAEA), Director of Nuclear and Non-Proliferation Diplomacy Planning at the Ministry, and Ambassador to Lebanon, as well as the government representative for the protection of overseas citizens in Cambodia.Additionally, the ministry announced the new appointments of Im Yeon, Ambassador to Vietnam; Kim Yoon-jung, Ambassador to Sri Lanka; Lee Dong-ki, Ambassador to the Philippines; Heo Jeong-ae, Ambassador to Rwanda; Park Tae-young, Consul General in Istanbul; Park Jong-kyung, Consul General in Dubai; and Kim Dae-hwan, Consul General in Jeddah.* This article has been translated by AI. 2026-07-31 10:36:00