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  • Lee Chang-dong Becomes First Korean Director to Win TIFF Ebert Director Award
    Lee Chang-dong Becomes First Korean Director to Win TIFF Ebert Director Award Lee Chang-dong has been named the first Korean director to receive the TIFF Ebert Director Award at the Toronto International Film Festival Tribute Awards.On July 30, the team behind the Netflix film 'Possible Love' announced that Lee will be honored with the TIFF Ebert Director Award during the 51st Toronto International Film Festival Tribute Awards.'Possible Love' tells the story of two couples—a laid-off worker and his wife, and a documentary filmmaker and her husband—who confront their different lives and hidden desires while working on a documentary together.Earlier, 'Possible Love' was officially invited to the Special Presentations section of the 51st Toronto International Film Festival. With Lee's selection as a Tribute Awards honoree, interest in the film continues to grow within the international film community.The Toronto International Film Festival Tribute Awards are held annually to honor outstanding cinematic achievements. The TIFF Ebert Director Award, named in memory of American film critic Roger Ebert, recognizes directors who have presented unique visions in their work.Previous recipients include Guillermo del Toro, Mike Leigh, Spike Lee, Sam Mendes, Denis Villeneuve, and Chloé Zhao. Lee Chang-dong is the first Korean director to be included in this list.Lee has gained international recognition for his films, winning the Best Director award at the Venice Film Festival for 'Oasis,' the Best Screenplay award at the Cannes Film Festival for 'Poetry,' and the International Critics' Week award at Cannes for 'Burning.'The 51st Toronto International Film Festival will take place from September 10 to 20 in Toronto, Canada. The Tribute Awards ceremony is scheduled for September 13.'Possible Love' marks Lee's first film in eight years, featuring actors Jeon Do-yeon, Seol Kyung-gu, Jo In-sung, and Cho Yeo-jeong. The film will be released in theaters on September 23 and will be available on Netflix starting November 6.* This article has been translated by AI. 2026-07-30 18:04:10
  • Samsung Invests 800 Billion Won in Semiconductor and DX Technologies
    Samsung Invests 800 Billion Won in Semiconductor and DX Technologies Samsung Electronics is establishing a venture investment fund totaling 800 billion won to enhance its competitiveness in next-generation semiconductors and secure new technologies in the consumer electronics and mobile sectors (DX).According to a disclosure on July 30 by the Financial Supervisory Service's electronic disclosure system, Samsung Electronics announced that it is forming the 82nd and 83rd New Technology Investment Funds (SVIC) in collaboration with Samsung Venture Investment and will begin its investment activities.A total of 500 billion won will be allocated to secure new technologies in the semiconductor sector, with Samsung Electronics contributing 495 billion won and Samsung Venture Investment providing 5 billion won.This fund will be used to invest in promising domestic and international semiconductor startups and to seek strategic business partnerships.The investment commitment period will last for 13 years, starting from the time of joining next month.Additionally, 300 billion won will be set aside to discover next-generation drivers in the DX sector, with Samsung Electronics contributing 297 billion won and Samsung Venture Investment providing 3 billion won.The fund will be managed in a way that allows for the disbursement of funds whenever promising targets are identified during its 10-year duration.A Samsung Electronics representative stated, "Through this investment, we aim to expand our connections with venture startups that possess core future technologies and to proactively foster technological partnerships."* This article has been translated by AI. 2026-07-30 18:04:10
  • Kumho Tire Reports 2nd Quarter Operating Profit of 182.2 Billion Won, Expands High-Profit Tire Sales
    Kumho Tire Reports 2nd Quarter Operating Profit of 182.2 Billion Won, Expands High-Profit Tire Sales Kumho Tire continued its growth in the second quarter of this year, driven by strong sales in the North American and European markets.The company reported an operating profit of 182.2 billion won for the second quarter, a 4% increase compared to the same period last year.Sales rose by 9.1% to 1.33 trillion won during the same period. This growth is attributed to an increase in original equipment (OE) tire supply and a rise in sales of high-profit replacement (RE) tires.The company also focused on enhancing product value. In the second quarter, tires with a diameter of 18 inches or more accounted for 47% of sales. Additionally, electric vehicle (EV) tires made up 25.1% of global OE tire sales.Kumho Tire has set a performance guidance for the year, aiming for sales of 5.1 trillion won, with a target of 47% for high-inch tire sales and 30% for EV tire supply.Despite external factors such as U.S. tariffs and conflicts in the Middle East, Kumho Tire plans to maintain its profitability by focusing on high-margin products.At the same time, the company is proceeding with the construction of its Hampyeong and European plants as planned, aiming to establish a global production system connecting Korea, Europe, and North America while accelerating its market penetration.* This article has been translated by AI. 2026-07-30 18:04:00
  • Bank of Korea Participates in Project Agora Real Transaction Test, Validating Cross-Border Payment Potential
    Bank of Korea Participates in 'Project Agora' Real Transaction Test, Validating Cross-Border Payment Potential The Bank of Korea has participated in a real transaction test for 'Project Agora,' led by the Bank for International Settlements (BIS), confirming the operational feasibility of a tokenized cross-border payment system.On July 30, the Bank of Korea announced that through this month's Real Value Testing (RVT) for Project Agora, it has verified that the platform's key functions and operational processes can run stably in an environment similar to actual operations.Project Agora is a global initiative aimed at enhancing the efficiency of cross-border payments using tokenized central bank reserves and bank deposits.The test involved 28 institutions, including central banks and private financial entities, and examined 17 transaction scenarios across six currencies, including the won, dollar, euro, and yen.During the real transaction test, approximately 800,000 Swiss francs (CHF) were transacted. The results confirmed that the Agora prototype could successfully handle various cross-border payment scenarios, including single and dual currency payments between businesses and banks, simultaneous foreign exchange settlements (PvP), and fund transfers within the same financial group.The test also demonstrated the benefits of tokenization and atomic settlement, which enhance transaction speed and transparency. Even in an environment where the Agora prototype was not fully integrated with existing real-time gross settlement systems (RTGS) and core banking systems, the average time from payment initiation to final settlement was about 1 minute and 20 seconds. Participating institutions positively evaluated the ability to track payment status and processing paths throughout the entire process, as well as the functionality to handle corporate payment transactions directly on the platform.The Bank of Korea, along with NongHyup Bank and Shinhan Bank, conducted tests on interbank won transfer transactions (20 million won) using tokenized reserves. The Bank of Korea examined the process of issuing, transferring, and redeeming tokenized reserves on the Agora platform in response to payment instruction requests.Looking ahead, Project Agora plans to identify additional transaction types and scenarios not covered in this test for further real transaction testing.The Bank of Korea intends to actively participate in Project Agora while exploring various ways to ensure interoperability and linkage between the Han River platform and the Agora platform.* This article has been translated by AI. 2026-07-30 18:00:20
  • Investigation Reveals Rental Scam Involving 10 Billion Won Deposit
    Investigation Reveals Rental Scam Involving 10 Billion Won Deposit "I thought it would be fine since it was an association related to the government; I never doubted it."This was the sentiment expressed by victim A, who signed a lease for an officetel in Samseong-dong, Gangnam, Seoul, based on that trust. The building is owned by the Korea Construction Technology Association, a legal entity under the Ministry of Land, Infrastructure and Transport. Association staff held seminars in the building's basement, and the property manager personally addressed any issues that arose. A lived there for five years, extending the lease without any problems.However, in September 2023, a sudden notice arrived. The rental company had defaulted on rent payments to the building owner for several months, leading to the termination of the lease and a demand to vacate. The notice warned that legal action would follow if they did not leave within a week. With the Chuseok holiday approaching, tenants, mostly in their 20s and 30s, were thrown into panic. Days later, court bailiffs forcibly entered the premises and began searching through their belongings. The nightmare had begun.The tenants had received confirmation dates and completed their residency registrations. A licensed real estate agent had assured them that the property was safe. Yet, their security deposits were never returned. A total of 28 households were affected, with losses amounting to 10 billion won. The culprit was a company with a mere 10 million won in capital.The company, Sovereign State, primarily engaged in leasing and management, had leased the entire annex from the association and then subleased it to individual tenants. The tenants had signed contracts with Sovereign, not the association, and their deposits were paid into Sovereign's corporate account.Under this arrangement, even if Sovereign fell behind on rent to the association and the lease was terminated, tenants had no legal grounds to demand their deposits back from the original owner, the association. Furthermore, the contract between the association and Sovereign included a confidentiality clause that prohibited disclosing contract details to third parties. Tenants were effectively barred from understanding the risks involved. Public records also supported Sovereign's position. The association had registered a leasehold with Sovereign, and the property registry publicly listed Sovereign as the official leaseholder. The special provisions in the lease agreement further added to the trust. Article 3 of the contract stated, "This contract is with Sovereign State, the leaseholder approved by the owner, the Korea Construction Technology Association." This gave the impression that the contract was directly guaranteed by the association.Conversely, Article 4 stated, "In the event of any discussions or negotiations between the landlord and tenant, the Korea Construction Technology Association shall not be held responsible." This structure created trust under the association's name while simultaneously absolving the association of legal responsibility in case of disputes.Some victims chose the association's property due to past experiences of losing security deposits. Notably, among the 25 households participating in the civil lawsuit, three were foreign nationals. For them, the subleasing structure resembled familiar rental management practices from abroad, making it difficult to harbor suspicions, and they were relatively vulnerable due to their unfamiliarity with the legal structure of lease agreements.The association signed a lease agreement with Sovereign in 2014 and received monthly rents starting at 80 million won, increasing to a maximum of 95 million won from 2016 to 2023. During this time, the total security deposit, which was actually 10 billion won, was significantly understated in the sublease contract submitted by Sovereign to the association.The contract between the association and Sovereign included a clause stating that the total security deposits received from tenants could not exceed 80% of the deposit Sovereign paid to the association. With a deposit of 2 billion won, Sovereign could only collect a maximum of 1.6 billion won in security deposits. However, there was a stipulation that if this limit was exceeded, Sovereign would have to provide tenants with a security insurance policy. Later, the agreement was modified to state that the excess deposit would be paid to the association as an additional deposit. Nevertheless, Sovereign collected nearly 10 billion won in security deposits without paying any additional deposits to the association. The association also failed to verify the compliance with the agreement or the actual amount of the security deposits during the seven years it received rent. In September 2023, after five months of unpaid rent, the association sent a notice of lease termination to Sovereign and the tenants. The notice claimed that "Sovereign presented a false contract to obtain consent, making that consent invalid, and the contracts with the tenants were unauthorized subleases without consent." In October of the same year, the association criminally charged Sovereign's representative, Choi, with document forgery, fraudulent document use, obstruction of business, and rental fraud.However, the victims had a different perspective. They argued that the association maintained the contract while using the "confidentiality clause" to prevent disclosure of the lease agreement details to third parties, during which time Sovereign gathered tenants under the pretext of the association's consent. The victims filed a civil lawsuit against the association, claiming it bore responsibility for allowing this structure to persist, but the first-instance court did not recognize the association's liability for damages. The court ruled that while the association had the right to verify the actual amount of the sublease deposits and compliance with the agreement, it was not obligated to do so.Under the credibility of a building owned by a government-affiliated organization, tenants gathered, and a rental company with only 10 million won in capital managed to collect 10 billion won in deposits over seven years. The court recognized Sovereign's liability for damages in the first instance, but due to its lack of repayment ability, the prospects for recovering the deposits remain bleak. While the victims' lives have been turned upside down, the deceptive subleasing structure that allowed for the accumulation of 10 billion won under the guise of a government-affiliated building remains in a legal gray area. 2026-07-30 18:00:20
  • KAI signs MOU with Embraer on aircraft structures
    KAI signs MOU with Embraer on aircraft structures SEOUL, July 30 (AJP) - Korea Aerospace Industries has signed a memorandum of understanding with Brazilian aerospace company Embraer to begin strategic cooperation in the field of aircraft structures, the company said Thursday. The agreement was signed on July 28 during President Lee Jae Myung’s state visit to Brazil, laying the groundwork for broader cooperation between the two companies in future aerospace technologies. KAI said the MOU is aimed at exploring potential business opportunities and identifying future areas of cooperation based on the two companies’ technological capabilities and expertise. Under the agreement, KAI and Embraer will seek cooperation in various areas, including research and development of new technologies and opportunities in aircraft structures. The companies plan to combine KAI’s aerospace engineering capabilities with Embraer’s aircraft development and manufacturing expertise to strengthen technological competitiveness, improve manufacturing efficiency and support continued growth in the aerospace industry. The MOU also covers potential cooperation in design, engineering, manufacturing and quality control, with a focus on optimizing production processes and improving cost competitiveness. “The MOU with Embraer marks an important step in expanding KAI’s international partnerships with leading global aerospace companies,” KAI CEO Kim Jong-chul said. Embraer, founded in 1969, is a global aerospace company with a portfolio covering commercial aircraft with up to 150 seats, business jets, defense, security and agricultural aviation. The company has delivered more than 9,000 aircraft worldwide. 2026-07-30 17:57:07
  • Muan County Council Holds Heated Session on Administrative Reports
    Muan County Council Holds Heated Session on Administrative Reports The 310th Muan County Council's temporary session featured heated discussions on administrative reports, with sessions extending past 6 p.m. as council members expressed high interest and the administration provided responsible answers.On July 30, the administrative report was chaired by Vice Chair Yang Yeong-bok in place of Chair Im Yoon-taek. The meeting included reports and Q&A sessions from six departments, including marine and fisheries, construction, and regional development.From the first report, a flurry of questions from council members created a tense atmosphere. Sharp inquiries and policy proposals focused on local issues and resident inconveniences, while the administration explained project directions and improvement measures in response.Council member Kim Won-jung also suggested improvements to the meeting's format. He stated, "Conducting reports and Q&A for too many departments in one day makes thorough discussion difficult. In the future, we should limit it to about five departments per day and extend the session to allow for more in-depth administrative reports."First-term council member Lee Jun-hwa meticulously examined issues directly affecting residents, particularly in the marine and fisheries sector. He addressed marine waste disposal, the establishment of a helicopter landing site in island areas, and the accessibility for emergency patients, urging the administration to develop measures for the safety and lives of island residents. He also took time to commend the hard work of marine and fisheries staff on the front lines.Council member Jeong Eun-kyung expressed disappointment that the recent direct sales market for seafood held at Namak Central Park was a one-time event. She suggested, "We should actively utilize and promote locations that are easily accessible to residents, not just Namak Central Park, to help boost local seafood consumption."Kim Won-jung also called for the expansion of fishing infrastructure, noting, "The supply of floating docks is significantly lacking compared to demand. We need to actively consider installing mid-sized facilities that match the changing fishing environment, rather than just focusing on small-scale facilities."On the same day, council members Park Chang-seok, Jeong So-hye, and Kim Mi-kyung continued to question key projects from each department, focusing on issues closely related to residents' lives. All three emphasized the need for administration to implement policies that align with residents' perspectives and urged proactive responses from the administration.In response, Marine and Fisheries Director Heo Dong-sik stated, "Given the significant interest from council members in issues such as marine waste disposal, helicopter landing site establishment, seafood direct sales market operations, and the installation of floating docks and lifting equipment, we will ensure that residents' demands are adequately reflected. We will do our utmost to achieve governance that meets residents' needs."The administrative report was evaluated not just as a simple presentation of tasks but as a platform for council members and the administration to collaboratively seek solutions to issues directly affecting residents' lives.Meanwhile, the 310th Muan County Council's temporary session will continue to conduct administrative reports and Q&A sessions from key departments, as well as review various agenda items, to assess overall county governance and propose policy alternatives.* This article has been translated by AI. 2026-07-30 17:56:00
  • Dev Sisters Launches Global Release of Cookie Run: Crumble
    Dev Sisters Launches Global Release of Cookie Run: Crumble Dev Sisters announced the global launch of its mobile idle role-playing game (RPG) 'Cookie Run: Crumble' on July 30. Cookie Run: Crumble is the first idle game developed under the Cookie Run intellectual property (IP). It features rapid growth and rewards typical of idle games, combined with strategies for cookie and pet combinations and dynamic battle scenes. The game has surpassed 2 million pre-registrations worldwide.The launch version includes a total of 69 cookies and 54 pets. Among them is the 'Oven Wanderer Cookie' (TSSR grade), a reimagined version of the Brave Cookie. Players can collect cookies and pets through a gacha system, allowing for quick and easy upgrades after collection.Upgraded cookies and pets can be utilized in various combat content, including main stage battles with up to 12 cookies, an 'Arena' for competing against other users, the 'Implant Tower' in an infinite tower format, and 'Daily Dungeons' for acquiring various resources. Players must consider the attributes of their cookies, synergies with pets, and skills to create their own effective decks.Rewards necessary for upgrading cookies, pets, and equipment are available throughout the game. Additionally, the company has introduced an infinite equipment gacha system to reduce the burden of repetitive acquisitions. The world of Cookie Run: Crumble is revealed through 'Cookie Talk' and cinematic cutscenes.A representative from Dev Sisters stated, “Cookie Run: Crumble plans to continuously expand the collection and combination options by releasing new cookies and pets through regular updates every four weeks.”Meanwhile, the development studio Kingdom has previously developed the social RPG 'Cookie Run: Kingdom' and the puzzle adventure 'Cookie Run: Witch's Castle,' growing the Cookie Run IP, and is now expanding it into the idle RPG genre with Cookie Run: Crumble.* This article has been translated by AI. 2026-07-30 17:56:00
  • Special Prosecutor Bill Passes National Assembly Amid Filibuster
    Special Prosecutor Bill Passes National Assembly Amid Filibuster On July 30, the ruling and opposition parties reached an agreement in the National Assembly to pass a special prosecutor bill and an extension of the national investigation into issues related to voter rights violations during the June 3 local elections. However, amendments to the Criminal Procedure Act and the National Assembly Act were delayed due to a filibuster initiated by the opposition. The ruling party plans to counter the unlimited debate with a motion to end it and pass both bills sequentially.During the session, the National Assembly approved the bill concerning the appointment of a special prosecutor to investigate allegations of voter rights violations, including the shortage of ballots during the 9th nationwide local elections, with 226 votes in favor out of 228 present. The Reform Party voted against the bill. As a result, the allegations surrounding the operations of the National Election Commission related to the ballot shortage will now be subject to a special prosecutor's investigation.The special prosecutor will be appointed by President Lee Jae-myung from one of two candidates jointly recommended by the Democratic Party and the People Power Party following the legal procedures. The investigation period is set for 90 days, with a possible extension of up to 60 days. An additional 20 days will be allocated for preparation. The scope of the special prosecutor's investigation, which was a point of contention between the parties, includes the response to the voter rights violations during the June 3 elections, the overall operations of the Election Commission, and the management, security, and operation of the election management system.The National Assembly also extended the activity period of the Special Committee for National Investigation into voter rights violations and election management reform by 30 days, now set to conclude on August 31. The committee plans to hold another hearing on August 10 and will recheck the ballots at the Handball Stadium in Olympic Park on August 18. A final report will be adopted on August 28, concluding their activities.Additionally, amendments to the Criminal Procedure Act, which abolish supplementary investigation rights for prosecutors, and amendments to the National Assembly Act aimed at shortening the fast-track process were also brought to the floor. These bills were pushed through by the Democratic Party in a rapid manner, prompting the People Power Party to condemn the unilateral legislative efforts outside the assembly hall. They expressed concerns about potential negative consequences following the abolition of supplementary investigation rights, calling for careful discussion.People Power Party floor leader Jeong Jeom-sik stated, "In the 'Jang Yun-ki case,' there was not a single victim on the side of the victims. If there were no supplementary investigation rights, the truth would have been buried underground," emphasizing that these rights are a means of protecting victims. He urged President Lee Jae-myung to exercise his veto power even if the Criminal Procedure Act amendment passes the National Assembly.Following the protest, the opposition began unlimited debate on the Criminal Procedure Act amendment. The first speaker, Representative Joo Ho-young, claimed, "In the first half of the 22nd National Assembly alone, a staggering 320 bills were passed unilaterally by the Democratic Party," urging members to consider what truly serves the public as constitutional institutions.In response, the Democratic Party submitted a motion to end the unlimited debate immediately after it began. Their strategy is to force a vote on the amendment after 24 hours, effectively halting the unlimited debate.The People Power Party plans to request unlimited debate on the National Assembly Act amendment, which is expected to be presented after the Criminal Procedure Act amendment passes. In response, the Democratic Party successfully passed a motion to shorten the July session until the 31st, as unlimited debate automatically ends when the session concludes.Meanwhile, the National Assembly elected Kim Jeong-jae of the People Power Party as the chair of the Gender Equality and Family Committee, filling all committee chair positions in the second half of the 22nd National Assembly.* This article has been translated by AI. 2026-07-30 17:52:00
  • Joint Chiefs of Staff: Unidentified Aircraft in Northern Gyeonggi Confirmed as U.S. Drone
    Joint Chiefs of Staff: Unidentified Aircraft in Northern Gyeonggi Confirmed as U.S. Drone Northern Gyeonggi Province authorities confirmed that an unidentified aircraft spotted near the civilian control line was a U.S. drone conducting training exercises.A Joint Chiefs of Staff (JCS) official stated on July 30, "An unidentified aircraft was detected in the northern Gyeonggi area south of the General Outpost (GOP), and appropriate measures were taken according to operational procedures. Upon confirmation, it was identified as a U.S. drone, and the situation has been resolved."Residents north of the military demarcation line reported that at around 2:30 p.m., messages were sent to village leaders advising them to urgently move to nearby shelters or outside control areas due to the identification of a drone in the Cheorwon area.The JCS announced that approximately one hour after the evacuation notice, at 3:30 p.m., the unidentified aircraft was confirmed to be a U.S. drone.The JCS is currently investigating the specific circumstances surrounding the drone's appearance in the airspace. A JCS official noted that they are still assessing the equipment specifications, stating, "It has only been confirmed on-site as a U.S. drone."* This article has been translated by AI. 2026-07-30 17:48:00