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  • Government to Issue 17 Trillion Won in Treasury Bonds in August
    Government to Issue 17 Trillion Won in Treasury Bonds in August The Ministry of Finance announced on July 30 that it will issue 17 trillion won in treasury bonds next month, an increase of 1 trillion won from the previous month, through a competitive bidding process.The issuance will be broken down as follows: 3.3 trillion won in 2-year bonds, 3.6 trillion won in 3-year bonds, 3 trillion won in 5-year bonds, 3 trillion won in 10-year bonds, 400 billion won in 20-year bonds, 2.8 trillion won in 30-year bonds, 800 billion won in 50-year bonds, and 1 trillion won in inflation-linked treasury bonds.Primary dealers and the general public will have the opportunity to purchase a certain amount of bonds at the winning bid rate through a non-competitive bidding process. The decision on whether to conduct non-competitive purchases will be announced separately, taking market conditions into account.To enhance liquidity in treasury bonds, the government will also conduct a swap of 3 trillion won between 10-year, 20-year, and 30-year bonds and 5-year benchmark bonds. Additionally, it plans to conduct a buyback of 2 trillion won in maturing bonds due in 2027.Meanwhile, there will be no issuance of government securities in August. Government securities are short-term bonds issued to cover temporary cash shortages arising from the timing differences between government revenues and expenditures within the fiscal year, and they are used alongside temporary borrowing from the Bank of Korea.As of this month, the outstanding balance of government securities is 4 trillion won, and there is no outstanding balance of temporary borrowing from the Bank of Korea. The average daily balance from January 1 to July 30 this year is reported to be 13.3 trillion won for government securities and 3.4 trillion won for temporary borrowing.In August, the government will also issue 1 trillion won in won-denominated foreign exchange stabilization bonds with a one-year maturity through a competitive bidding process, similar to the previous month. A total of 31 institutions, including primary dealers, preliminary primary dealers, and institutions eligible to bid for currency stabilization securities, will participate in the bidding.* This article has been translated by AI. 2026-07-30 17:28:00
  • Chinese Mathematician Wang Hong Wins Prestigious Fields Medal
    Chinese Mathematician Wang Hong Wins Prestigious Fields Medal Wang Hong, a 35-year-old professor at the Institut des Hautes Études Scientifiques in France, has become the first Chinese recipient of the Fields Medal, often referred to as the Nobel Prize of Mathematics. His life story has resonated deeply within Chinese society.According to local media reports on July 30, the Guangxi Daily, the official newspaper of the Guangxi Zhuang Autonomous Region, sold out its July 25 edition, which featured Wang's story on the front page.Speculators resold copies of the newspaper, originally priced at 1.35 yuan, for as much as 99 yuan. In response to a surge in inquiries about purchasing the newspaper, Guangxi Daily printed additional copies and began selling them online on July 28, limiting purchases to three copies per person. However, the influx of buyers temporarily overwhelmed the system.While specific sales figures were not disclosed, the print run was approximately 250,000 copies. Chinese netizens expressed great interest in the article, dubbing it a 'modern-day Luoyang paper.'The article titled 'Wang's Conjecture' has been praised for its simplicity and significance, with comments highlighting its powerful title that transcends gender stereotypes. 'Wang' refers to Wang Hong's surname and symbolizes his status in the mathematical community, while 'conjecture' alludes to his research achievements and metaphorically represents his journey of pursuing dreams amid self-doubt.Furthermore, the article focuses on Wang's academic journey and growth, avoiding framing him as a 'country girl' based on his background or gender.Through interviews with Wang's hometown residents, teachers, and acquaintances, the article traces his path from a small village in Guilin, Guangxi, to a world-class research institution. It recounts anecdotes, including how Wang's father sacrificed career advancement for his children's education and an experience during middle school when he faced criticism for being a girl who asked too many questions.Guangxi Daily noted on its official Weibo account that the article's popularity stems not only from Wang's prestigious award but also from its portrayal of a genuine life that took 'a little longer and a little more time' to reach the finish line.The public's interest in Wang extends beyond the article. A recently released video of his acceptance speech for the Fields Medal has resonated with many young people in China.In the video, he reflected on his undergraduate years at Peking University, admitting he felt 'discouraged,' which sparked discussions about the culture of meritocracy in Chinese education.The Chinese media outlet 'Takan,' which focuses on social issues and women's rights, remarked on July 27 that Wang Hong is emerging as a new role model for Chinese youth. Takan noted that his use of the word 'discouraged' accurately names the pain many young Chinese have felt but struggled to articulate.Indeed, social media platforms like Weibo and Xiaohongshu have seen a flood of posts criticizing China's meritocratic system. Many expressed that poor academic performance leads to a denial of their existence, with teachers publicly belittling students and professors criticized for prioritizing selection over teaching. Wang's admission of feeling 'discouraged' has prompted many exhausted Chinese youth, caught in relentless competition, to reflect on their own anxieties and frustrations. 2026-07-30 17:28:00
  • Major Retailers Challenge Daiso with Low-Cost Household Goods Stores
    Major Retailers Challenge Daiso with Low-Cost Household Goods Stores Major retailers that previously rented space to Daiso are now entering the low-cost household goods market directly. As inflation persists, Daiso has gained popularity among younger consumers for its affordable products, prompting a shift in the retail landscape. Retailers are responding by launching their own uniform-price stores that offer a range of household items, fashion, and beauty products to attract younger shoppers and increase customer dwell time.According to the retail industry, Emart's low-cost household goods store, 'Wow Shop,' which began operations in December with four locations, has expanded to 13 stores by the end of this month. Additionally, 116 Emart locations without separate stores are selling 30 to 40 representative products on regular shelves, focusing on items priced under 5,000 won.The popularity of Wow Shop amid rising prices has led to its expansion. On July 7, the Wow Shop at Emart Eunpyeong moved from the third to the sixth floor, increasing its size from 62.8 square meters (19 pyeong) to 337 square meters (102 pyeong). The number of products offered also grew from about 1,300 to nearly 1,980. In the week following the expansion, average weekday sales increased by 52.1%, while weekend sales rose by 78.4% compared to before the move.Wow Shop's competitive pricing stems from direct sourcing overseas, allowing Emart to reduce intermediaries. The store features products that were not previously available in large retailers, as well as items popular on social media. An Emart representative stated, "We may consider expanding Wow Shop based on customer feedback and store conditions, but no additional openings are currently planned."Lotte Mart opened a 'Big Price Uniform Shop' at its Hwajeong location in Goyang City at the end of last month, covering approximately 99 square meters (about 30 pyeong). The shop offers around 700 everyday items, including storage containers, laundry products, underwear, and socks, all priced uniformly under 10,000 won. Lotte Mart plans to enhance its lineup based on customer demand for specific product categories. A Lotte Mart representative noted, "The Big Price Uniform Shop is currently in a testing phase, and there are no plans for store expansion at this time."The low-cost household goods sector has traditionally been operated by specialty stores like Daiso, which rented space in large retailers. This arrangement allowed large stores to generate stable rental income while outsourcing the management of non-food items, which often have a high inventory burden. Daiso has also expanded its presence in large retailers, occupying 40 of Emart's 157 stores and 90 of Lotte Mart's 112 stores.The shift by Emart and Lotte Mart to expand low-cost household goods offerings is seen as a strategy to attract consumers during this inflationary period. By enhancing their selection of household, fashion, and beauty products, they aim to increase customer visits and extend dwell time.Industry insiders predict that for the time being, large retailers will continue to coexist with Daiso while testing the competitiveness of their own stores. 2026-07-30 17:20:00
  • Survival Strategies for Young Adults Amid Rising Prices: Group Buys and Budget Dining
    Survival Strategies for Young Adults Amid Rising Prices: Group Buys and Budget Dining Young professional A operates a "fruit gathering" with three peers living in the same apartment complex. This group was formed to share the cost of seasonal fruits, which can be expensive and excessive for one person. Participants bring their own containers to buy and then divide the fruits equally. Recently, they collectively purchased a watermelon and a box of peaches, costing each member 7,900 won. A said, "If I had bought them alone, it would have cost over 30,000 won, and dealing with leftover fruit would have been a hassle. We started with fruit gatherings, but now we also order delivery food to share."According to industry reports, the prolonged period of rising prices is changing the spending habits of the 2030 generation. Beyond extreme cost-cutting measures known as 'frugal tech,' group buying and using digital platforms to find affordable restaurants and last-minute discounts are becoming commonplace.As dining out becomes more expensive, platforms that share information about ultra-low-cost restaurants are rapidly gaining popularity. A notable example is the "budget dining map," which lists restaurants where meals cost less than 10,000 won. Users can set a price range from 1,000 to 10,000 won to find restaurants that fit their budget and can also register their own known low-cost eateries.When the reporter set the price filter to 5,000 won on the budget dining map, five nearby restaurants appeared. A visit to one Chinese restaurant confirmed the map's information, displaying a sign stating, "Adult Jajangmyeon 5,000 won, Student 3,000 won." B, a professional met at the restaurant, said, "I found this place through the budget dining map and have already visited several times. It not only helps reduce my food expenses but also makes discovering hidden gems in the neighborhood enjoyable."Platforms that offer discounts on food nearing expiration or unsold items from the same day are also gaining traction amid rising prices. Apps like "Last Minute Hero" and "Lucky Meal" allow users to pre-order discounted bundles from bakeries, cafes, and restaurants. After the store closes, customers receive their orders based on reservation order, with products often priced 50-60% lower than regular prices. Users have praised these services, sharing experiences like, "I bought a slice of cake and bread for under 10,000 won," and "Thanks to this, I've significantly cut my snack expenses."In the household goods sector, offline stores specializing in surplus and refurbished products are becoming a dominant channel. The refurbished brand "King Kong Department Store," which sells discounted surplus and display items across fashion, food, and household goods, increased its store count from 22 in 2023 to 27 last year, with sales rising from 25 billion won to 45 billion won, an 80% increase.Lee Jong-woo, a professor of retail marketing at Namseoul University, noted, "Unlike in the past, the increase in related platforms and content has created an environment where consumers can easily access ultra-low-cost information. As real income decreases due to rising prices, people are compelled to actively seek affordable options to maintain their living standards." 2026-07-30 17:20:00
  • Survival Strategies in an Era of High Prices: The Rise of Ultra-Low-Cost Shopping
    Survival Strategies in an Era of High Prices: The Rise of Ultra-Low-Cost Shopping 40-year-old office worker A has found himself hesitating at the checkout line more often lately, scrutinizing price tags as the cost of processed foods has risen, putting a strain on his family's grocery budget. As a result, A's shopping cart is frequently filled with discounted items and affordable private brand (PB) products. With consumer price inflation remaining above 3% for two consecutive months, the landscape of grocery shopping is changing. Consumers are not just cutting back on spending; they are increasingly opting for ultra-low-cost PB products at large supermarkets and convenience stores. According to the National Data Agency, the consumer price inflation rate reached 3.2% in June compared to the same month last year, marking the highest level in two and a half years since December 2023. This is a 0.1 percentage point increase from May's rate of 3.1%, with food and non-alcoholic beverage prices rising by 2.0% during the same period. Starting at the end of this month, major food companies will begin raising prices. Tous Les Jours will increase the prices of 76 items, including bread and egg toast, by an average of 8.2% starting July 31. Nongshim and CJ CheilJedang will also raise prices on some products, including ramen and grilled fish, by an average of 5.8% and 8%, respectively. As consumers feel the pinch of rising food prices, there is a noticeable shift toward more affordable PB products. Sales of E-Mart's ultra-low-cost PB line, '5K Price,' increased by about 4% from the previous month during the first 25 days of July. This line primarily features items priced under 5,000 won. Additionally, sales of ready-to-eat rice, including white rice and mixed grain rice, surged by 35%, while sales of cold brew and low-sugar vanilla cream cold brew drinks jumped by 88%. Lotte Mart also reported that sales of PB products priced under 1,000 won increased by over 20% compared to the same period last year. Among these, sales of the PB 'Today Good' white rice rose by 69%. The demand for low-cost products, which are less burdensome on consumers and often purchased repeatedly, has surged. Convenience stores are experiencing similar trends. Sales of GS25's value-oriented PB 'Real Price' grew by 13.1%. Due to rising egg prices, sales of 'Real Fresh Eggs' skyrocketed by 97%. CU's PB sales also increased by 55.4%, with noodle sales soaring by 142.9%, and sales of cereal and dried snacks rising by 68.8% and 60.3%, respectively. A CU representative noted, "We have introduced three types of PBICK pasta at a price of 5,500 won, which is cheaper than specialty stores, and it has gained significant popularity among consumers." Retailers anticipate that as high inflation persists, demand for PB products will continue to grow, prompting them to expand their ultra-low-cost offerings. Lotte Mart has doubled its selection of PB products priced under 1,000 won from 45 to 90 in the past month, broadening its range from fresh foods, beverages, and snacks to include household items. A retail industry official stated, "As consumers increasingly seek value-oriented products due to high inflation, this trend is becoming a regular purchasing behavior, leading to intensified competition among retailers to attract price-sensitive shoppers." 2026-07-30 17:20:00
  • Koreas Fair Trade Commission Considers Revising Exception for Coupangs Corporate Designation
    Korea's Fair Trade Commission Considers Revising Exception for Coupang's Corporate Designation Joo Byung-ki, chair of the Fair Trade Commission, suggested revising the exception that allows large corporate groups to designate a corporate entity as their 'same person' instead of an individual.Following a court's intervention against the Fair Trade Commission's decision to change Coupang's designation from a corporation to Kim Beom-seok, the chair of Coupang Inc., there are growing concerns that this move may lead to stricter regulations targeting Coupang.According to industry sources, during a meeting of the National Assembly's Political Affairs Committee on July 28, Joo stated regarding the enforcement decree related to the exception for corporate designation, "There are aspects of the enforcement decree that can be abused, and it is difficult to verify whether the special relationship of the same person is involved in management. The enforcement decree needs to be revised."In May 2024, the Fair Trade Commission amended the enforcement decree to allow the designation of a corporation or organization as the same person instead of an individual, provided that strict separation criteria regarding family management participation, investment, and financial transactions are met.Industry observers view Joo's comments as a direct focus on Coupang, a U.S.-listed company. In 2024, Coupang met the criteria for the exception, but in May of this year, the Fair Trade Commission changed the designation back to Kim Beom-seok, citing violations of the exception criteria due to the activities of Kim's brother, Kim Yoo-seok, the company's vice president.Coupang has contested this decision, filing a lawsuit to cancel the designation and seeking a stay of execution. On July 14, the Seoul High Court partially granted Coupang's request for a stay, suspending the effects of the decision to designate Kim as the same person and the requirement for him to submit documents. The suspension will last until 30 days after the first-instance ruling in the main lawsuit.As a result of this decision, Kim is temporarily relieved from various disclosure and reporting obligations to the Fair Trade Commission that come with being designated as the same person. If designated, he would be required to report and publicly disclose the stock ownership status of himself, his spouse, and relatives within the fourth degree of kinship annually.In this context, Coupang has expressed concerns that being designated as the same person exposes them to risks of shareholder class action lawsuits and criminal penalties. Under U.S. Securities and Exchange Commission (SEC) regulations, disclosures are required regarding transactions involving executives and immediate family members. If information exceeding SEC disclosure requirements is made public under the Fair Trade Act, it could lead to irreparable harm even if they win the main lawsuit.As the legal dispute over the Fair Trade Commission's decision continues, there are also concerns about potential backlash from U.S. lawmakers. On July 1, the U.S. House Judiciary Committee released a report claiming that the South Korean government discriminates against U.S. companies, including Coupang. The report dedicates more than half of its content to the Coupang issue, asserting that such discriminatory treatment violates the Korea-U.S. trade agreement. The following day, the White House stated that "Coupang has been targeted by the Yoon Suk-yeol administration."Given this situation, if the revision of the exception for the same person designation is pursued with a direct focus on Coupang, it could escalate domestic regulatory issues into a U.S.-Korea trade dispute.Industry insiders noted, "The exception for the same person designation was a mechanism to ensure flexibility in the system's operation, but if it is revised again, it could effectively reverse regulations based on the Coupang case. If the Fair Trade Commission narrows the exceptions, companies will inevitably worry about criminal risks and disclosure burdens, which could be perceived as uncertainty in the Korean market by foreign investors."* This article has been translated by AI. 2026-07-30 17:16:00
  • HL Mando Reports Record Quarterly Revenue in Q2
    HL Mando Reports Record Quarterly Revenue in Q2 HL Mando announced on July 30 that its revenue for the second quarter reached 2.4953 trillion won, a 3.9% increase from 2.4009 trillion won in the same period last year. This marks the highest quarterly revenue in the company's history. Operating profit also rose to 1.070 billion won, up 2.8% from 1.041 billion won during the same timeframe. Net profit saw a significant increase, soaring 493.9% from 99 billion won to 588 billion won. Despite rising semiconductor and raw material prices, analysts attribute the company's profitability to increased sales in emerging markets, expanded contributions from Europe, and various recovery activities. The cumulative order amount for the year stands at 5.8 trillion won, achieving 44% of the annual target. Of this, 3.1 trillion won was secured in the second quarter, including contracts for parts for new vehicles from Hyundai Motor and Kia, as well as projects from local OEMs in North America, China, and India. * This article has been translated by AI. 2026-07-30 17:16:00
  • NCSoft Expands IP Competitiveness with New Ventures, Anticipates Strong H2 Releases and M&A Impact
    NCSoft Expands IP Competitiveness with New Ventures, Anticipates Strong H2 Releases and M&A Impact NCSoft is expected to maintain a positive performance in the second half of the year, following a strong first quarter that exceeded market expectations. The company aims to continue its growth through a solid lineup of new releases and expansion into mobile casual gaming, building on the stable success of its legacy intellectual properties (IPs) like Lineage.According to the gaming industry on July 30, NCSoft is diversifying its revenue structure, which has traditionally focused on massively multiplayer online role-playing games (MMORPGs). The company plans to expand its casual gaming lineup through mergers and acquisitions (M&A) and broaden its genre offerings to include subculture and shooting games. This strategy is seen as an effort to reduce reliance on the success of specific new titles.NCSoft's strong Q1 performance was bolstered by the success of Aion 2, launched at the end of last year, and Lineage Classic, released earlier this year. Aion 2 has resonated with users in their 20s and 30s, while Lineage Classic has attracted players in their 40s and 50s, effectively capturing a diverse audience of PC MMORPG players.According to the two major mobile app markets in South Korea, Lineage M reached the top of the revenue rankings following its 9th anniversary update on June 9. Although NCSoft introduced its own payment service for its PC launcher, reducing reliance on app market payments, it continues to maintain a stable user base and revenue.The M&A efforts aimed at expanding the mobile casual business are also reflected in the company's consolidated results. Revenue from the companies NCSoft acquired last year, Lihuhu and SpringComs, totaled 35.5 billion won in Q1. Starting in Q2, the financial performance of the mobile casual platform JustPlay will also be included in the consolidated results, which is expected to further increase revenue.JustPlay, an ad-based casual gaming platform, recorded approximately 248 billion won in revenue last year. According to NCSoft's Q1 earnings report, JustPlay's revenue increased by 76% compared to the same period last year.In the second half of the year, NCSoft plans to launch new titles, starting with the global version of Aion 2 in September. The development team has stated that they will apply the same operational principles validated in South Korea to the global version.Guild Wars 3 was unveiled last month at the global gaming event Summer Game Fest 2026. Developed by NCSoft's North American studio ArenaNet, Guild Wars 3 is the first official sequel to Guild Wars 2, which was released in 2012.Given that Guild Wars has established a user base primarily in North America and Europe, the company believes it can expand its audience. NCSoft plans to gradually release information about Guild Wars 3 in the second half of the year and conduct testing next year.New titles aimed at diversifying genres, including subculture games like Astrae Oratio and Limit Zero Breakers, are also in development. These projects are being created by external specialized developers, with NCSoft handling the publishing. Additionally, the company is preparing its own shooting game, Cinder City, along with the publishing title Time Takers.With NCSoft exceeding market expectations in Q1, future performance is expected to hinge on the impact of its mobile casual business and the success of new releases in the latter half of the year.Kim So-hye, a researcher at Hanwha Investment & Securities, set a target price of 350,000 won, stating, "This is the time to increase holdings ahead of the global new title release momentum."Kim Dong-woo, a researcher at Kyobo Securities, also set a target price of 375,000 won. He noted that NCSoft has a profit growth story in place until next year, stating, "The company is reducing its reliance on the success of new titles through M&A while maintaining the momentum of new releases."* This article has been translated by AI. 2026-07-30 17:16:00
  • New US envoy arrives in Seoul, pledges stronger alliance
    New US envoy arrives in Seoul, pledges stronger alliance SEOUL, July 30 (AJP) - New U.S. Ambassador to South Korea Michelle Steel arrived in Seoul on Thursday afternoon. In a brief statement shortly after arriving at Incheon International Airport, Steel first greeted reporters in Korean, saying, "I was born in Seoul, but I stand here today representing the U.S. Standing here again brings back many emotions." Describing how she was "grateful" to be standing on South Korean soil once again, Steel said the two countries' alliance has become "one of the strongest alliances" in the world. She added that the biliteral alliance was forged during war and strengthened by the "blood of those who stood shoulder to shoulder to defend freedom." She also said she would "look forward to working together" with South Korea to ensure that the "ironclad alliance" between the two allies remains a cornerstone of peace and security in the region. But she did not take questions from reporters, saying only that she hoped to have "another opportunity" to speak with them soon. Her arrival marked the end of an approximately 18-month vacancy at the top of the American mission, as she became the first envoy to fill the post since U.S. President Donald Trump returned to the White House for his non-consecutive second term early last year. She will be the second Korean American to serve in the role, after Sung Kim, who held it from 2011 to 2014. The post has been vacant since January last year, when Philip Goldberg, who was appointed under former U.S .President Joe Biden, left the job. Before her appointment, Steel served as a Republican member of the U.S. House of Representatives from 2021 to 2025. Steel, who was born in Seoul in 1955 and immigrated to the U.S. in 1975, earned a bachelor's degree in business administration from Pepperdine University and an MBA from the University of Southern California. She has two children and four grandchildren with her husband Shawn Steel. 2026-07-30 17:14:48
  • Donga Ecopack Expands Community Contributions to Foster Local Talent
    Donga Ecopack Expands Community Contributions to Foster Local Talent Donga Ecopack is expanding its community contribution activities aimed at fostering local talent and promoting community coexistence. The company is broadening its support to include educational institutions, local events, and sponsorship of athletic talent.Recently, Donga Ecopack visited Gyeongbuk Natural Science High School to provide financial support and supplies to assist students' educational activities and school life.This sponsorship consisted of cash and items valued at 5.6 million won, including Pocari Sweat, towels, and bottles sponsored by Donga Otsuka. The company is committed to supporting the growth of future generations and promoting community coexistence through collaboration with local educational institutions.Donga Ecopack is also continuing its support for local cultural events and the development of athletic talent. The company provided financial support and bottled water to ensure the smooth operation of the Hadong Lotus Festival in Dangjin, as well as regular bottled water sponsorship for the soccer team at Sangju Hamchang Middle School.At a sponsorship meeting held at Hamchang Middle School, Donga Ecopack CEO O Mu-hwan, along with company employees and local officials, gathered to discuss improving training conditions for student athletes and nurturing athletic talent. The company is committed to regularly supplying bottled water to the Hamchang soccer team, along with towels, bottles, and other items that can be used for training and health management.A Donga Ecopack representative stated, "We are continuing various community contribution activities to ensure that the future generation in the region grows up healthy and that the community develops more vibrantly. We plan to sustain our support in areas closely related to education, sports, and cultural events that provide practical assistance to the community."* This article has been translated by AI. 2026-07-30 17:12:10