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  • Han Byeong-do Calls for End to Oppositions Filibuster as Criminal Procedure Bill is Introduced
    Han Byeong-do Calls for End to Opposition's Filibuster as Criminal Procedure Bill is Introduced Han Byeong-do, acting leader of the Democratic Party and floor leader, stated that a bill aimed at abolishing supplementary investigation rights will be introduced in the National Assembly today. He urged the People Power Party to stop inciting support for the prosecution and to join efforts to establish a criminal justice system for the people.During a party meeting, Han noted, "The People Power Party is also planning a filibuster today." He added, "The Democratic Party will work to reform the filibuster system, which has devolved into a tool for political obstruction." A proposal to strengthen the requirements for filibustering is currently under discussion in the National Assembly's operating committee.Additionally, Han mentioned that an agenda to change the fast track, which has become a slow track, will also be introduced in today's session. He pointed out that the current fast track process, which can take up to 330 days, has lost its intended purpose.Meanwhile, today's session will also address a special prosecutor law aimed at investigating the shortage of ballots that occurred during the June 3 local elections. Furthermore, both parties have agreed to extend the special committee for a national investigation, which is set to expire on July 31, for an additional 30 days.* This article has been translated by AI. 2026-07-30 15:08:00
  • BOK puts policy, markets veterans in key posts
    BOK puts policy, markets veterans in key posts SEOUL, July 30 (AJP) - The Bank of Korea moved monetary policy and financial market specialists into key advisory and operational posts on Thursday, underscoring a push to strengthen policy coordination and its capacity to respond to market volatility. The central bank appointed or reassigned 11 department and regional branch heads and promoted 56 employees, including nine to Grade 1 and 15 to Grade 2. Lee Hwa-yeon, previously head of the Policy Coordination Team at the Monetary Policy Department, was named advisor to the governor, placing an official with experience in monetary policy, financial stability and the Monetary Policy Board Secretariat directly alongside the bank’s leadership. The BOK said Lee had extensive experience in monetary policy formulation and implementation as well as in analyzing financial market developments. Choi Young-joo was appointed director general of the Financial Markets Department after serving as head of the Office of Sustainable Growth, while outgoing markets chief Choi Yong-hoon moved to become director general of the Strategy & Coordination Department. Choi Young-joo spent much of her career in the Financial Markets and Monetary Policy departments and has participated in a range of market stabilization measures, according to the bank. Choi Yong-hoon’s experience spans the Financial Markets Department, the Reserve Management Group, parliamentary liaison and the Monetary Policy Board Secretariat, positioning him to coordinate internal strategy, external relations and major institutional projects. The moves effectively place a market specialist in charge of market operations and analysis while shifting an official with broader organizational and external-relations experience to the bank’s central planning arm. Lee Ah-rang, the outgoing advisor to the governor, was appointed head of the Office of Sustainable Growth, where she will oversee work related to green finance, climate change and coordination with domestic and overseas institutions. Baek Kyung-hoon, formerly head of the Audit Planning Team, was named head of the Office of Property, while Chae Hee-kwon moved from the bank’s Daejeon, Sejong and Chungnam branch to become director general of the Currency Department. Lee Hwa-yeon, Lee Ah-rang and Baek were all appointed to department-level leadership positions while remaining Grade 2 officials, reflecting the bank’s stated emphasis on performance and expertise rather than seniority alone. The promotion list also favored officials involved in the central bank’s core forecasting, financial stability, market operations and foreign-exchange functions. Kim Min-sik, who led revisions to the bank’s economic outlook reports and forecasting framework, was among nine officials promoted to Grade 1. Lim Kwang-kyu, director general of the Financial Stability Department, was promoted while retaining his current post after overseeing assessments of household debt, property-market risks and broader vulnerabilities in the financial system. Lee Dae-geon was promoted after helping develop the BOK’s climate-risk models and joint climate stress-testing framework for the financial sector. Nam Sun-woo was recognized for work on expanding foreign-exchange swaps with the National Pension Service, establishing local-currency transaction arrangements and supporting foreign-exchange market stability. Choi Wan-ho, previously compliance officer at the Reserve Management Group, was promoted for his role in overseas reserve management and the expansion of investment strategies. Women and externally recruited specialists each accounted for three, or 12.5 percent, of promotions to Grade 2 or above, compared with one, or 3.3 percent, in the first-half reshuffle. The appointments do not change the composition of the Monetary Policy Board and are therefore better viewed as an effort to sharpen policy execution and coordination than as a direct signal on the future path of interest rates. 2026-07-30 15:04:52
  • Supreme Court Upholds Fine for Dealer Refusing Reinstatement After Unlawful Dismissal
    Supreme Court Upholds Fine for Dealer Refusing Reinstatement After Unlawful Dismissal The Supreme Court ruled that employers must comply with reinstatement orders from labor committees, even if the original contract period has ended. Refusing reinstatement on the grounds of contract expiration is deemed illegal.According to legal sources on July 30, the Supreme Court's second division, led by Justice Eom Sang-pil, upheld a lower court's decision to impose a fine of 1.5 million won on Jo, the representative of a car dealership, for violating labor laws.Jo notified sales representative A of contract termination just one day before the contract was set to expire in January 2019. The local labor committee deemed this an unfair labor practice and ordered Jo to reinstate A immediately. Jo contested the ruling and filed an administrative lawsuit but lost, with the reinstatement order being finalized in June 2022.However, Jo claimed that reinstatement was impossible since the service contract with A had already ended and refused to comply with the order. He also imposed preconditions, such as requiring the submission of a surety bond, and failed to provide the necessary sales codes for A to resume work, leading to his prosecution.Ultimately, both the first and second courts imposed a fine of 1.5 million won on Jo. They ruled that if there had been no unfair labor practice, the contract would have continued, and Jo could not unilaterally impose preconditions or evade reinstatement based on contract expiration while disregarding the finalized order.The Supreme Court also stated, "The reinstatement order due to unfair labor practices assumes that the employer's refusal to renew the contract is invalid. Even if the original contract period has expired, the obligation to reinstate exists, and failure to comply constitutes a violation of the reinstatement order."* This article has been translated by AI. 2026-07-30 15:00:10
  • KT Fined $40 Million for Data Breach and Unauthorized Charges
    KT Fined $40 Million for Data Breach and Unauthorized Charges The Personal Information Protection Commission (PIPC) has imposed a fine of approximately 54 billion won (about $40 million) on KT for a data breach and unauthorized small payments resulting from illegal femtocells. The PIPC evaluated the actual financial damage heavily, while also considering the scale of the breach, the types of information involved, compensation for victims, and corrective measures in determining the fine.On July 29, the PIPC announced in a meeting that it had decided to impose a fine of 53,979 million won on KT for violating safety obligations, along with issuing corrective orders and recommendations.According to the investigation, KT neglected access control to femtocells and its core mobile network, leading to the exposure of personal information for 16,647 users, including mobile phone numbers, International Mobile Subscriber Identities (IMSI), and International Mobile Equipment Identities (IMEI). Among these, 368 users suffered unauthorized payment losses totaling approximately 240 million won.Yang Cheong-sam, the PIPC's secretary general, stated during a briefing, “This incident is serious not only because it involves a data breach but also because the leaked personal information resulted in actual financial harm.”The PIPC reported that hackers extracted certificates from lost KT femtocells and embedded them into illegally manufactured femtocells. They accessed KT's internal network without additional authentication from October 8, 2024, to September 5, 2025, for about 11 months, leaking user personal information.The hackers directed user devices through the illegal femtocells to intercept network transmission information, combining it with separately obtained personal data to attempt unauthorized payments, even stealing payment authentication codes. KT only identified the abnormal access after receiving complaints about unauthorized payments.The PIPC concluded that the incident stemmed from KT's basic negligence in access control and management of its internal mobile network. KT failed to manage the cell IDs that could verify whether femtocells were authorized, resulting in undetected access by unauthorized devices. It was also noted that KT did not restrict the IP addresses of femtocells accessing its internal network.The revenue used to calculate the fine included KT's LTE and 5G wireless communication earnings, as femtocells are LTE-based equipment, but 5G services also utilize LTE networks in some areas.This fine is about 40% of the 134.8 billion won imposed on SK Telecom for a previous data breach incident. While both cases used mobile communication-related revenue as a basis for the fine, the PIPC assessed the severity of the violations and the scale and type of information leaked differently.In the SK Telecom case, the PIPC classified the violation as 'very serious,' while the KT case was categorized as a 'serious violation.' Although the actual unauthorized payment losses in the KT case were heavily weighted, the relatively smaller number of affected individuals and the limited types of leaked information—mobile phone numbers, IMSI, and IMEI—were also considered. No leaks of subscriber authentication information were confirmed in the KT case.Yang emphasized, “The occurrence of secondary damage is a very serious factor. We considered the relatively small scale of the breach, the types of information involved, compensation for victims, and corrective measures comprehensively.”Meanwhile, this fine is limited to the data breach and unauthorized payment incident involving femtocells, and the conclusion regarding KT's malware infection case is still pending.The PIPC found that KT recognized the malware infection on its servers in March 2024 but failed to report the breach to the government and did not conduct a detailed analysis of the personal data processing servers. The PIPC plans to file a complaint against KT for deleting logs from some servers and submitting false materials, as well as for obstructing the investigation by changing statements.The PIPC intends to impose separate penalties regarding the malware infection case if new facts are confirmed through the investigation.* This article has been translated by AI. 2026-07-30 15:00:10
  • Court Dismisses Lee Kyu-won’s Constitutional Appeal in Kim Hak-eui Case
    Court Dismisses Lee Kyu-won’s Constitutional Appeal in Kim Hak-eui Case Lee Kyu-won, a former deputy chief prosecutor at the Daegu District Prosecutors' Office, had his constitutional appeal dismissed by the Constitutional Court after he sought to overturn a Supreme Court ruling related to his conviction for creating a false interview report in the investigation of former Justice Ministry official Kim Hak-eui's alleged involvement in a sex bribery scandal.According to legal sources on July 30, the Constitutional Court dismissed Lee's appeal on July 28, stating that he failed to meet the legal requirements for such a claim regarding the conviction for forgery of public documents.A dismissal means that the Constitutional Court concludes the appeal does not meet the necessary criteria without assessing whether there was a violation of fundamental rights.The court determined that Lee did not fulfill the requirement of exhausting all legal remedies available under other laws. It also noted that his appeal primarily contested the outcome of the Supreme Court ruling rather than addressing specific violations of constitutional rights.Lee was prosecuted for allegedly falsifying interview reports during the investigation of Kim's villa sex bribery allegations while working with the Supreme Prosecutors' Office's Past Affairs Investigation Team from 2018 to 2019. He was also accused of leaking interview details to specific media outlets for reporting purposes.Prosecutors found that Lee included statements in his report that were not made by the interviewee, Yoon Jung-cheon, who did not claim that former President Yoon Suk-yeol had visited the villa.In March of last year, the first trial found Lee guilty of some charges, imposing a suspended fine of 500,000 won. A suspended sentence allows a guilty verdict while deferring the punishment for two years, after which it can be dismissed if no further issues arise.The second trial added convictions for violations of the Personal Information Protection Act and the Electronic Criminal Procedure Act, resulting in a suspended fine of 2 million won.The Supreme Court upheld the lower court's ruling on June 11, rejecting Lee's appeal.Following the Supreme Court's decision, Lee argued that the legal nature of the interview report and the implications of the Personal Information Protection Act raised significant constitutional issues. He filed a constitutional appeal with the Constitutional Court on July 7, asserting the need for constitutional review. However, the court ruled that he did not meet the necessary criteria for the appeal, thus not addressing the fundamental rights violation claims.In 2024, while still a prosecutor, Lee ran as a proportional representative candidate for the Justice Reform Party in the 22nd National Assembly elections but was unsuccessful. The Ministry of Justice dismissed him in November of the same year for violating regulations against political activity.Lee has since filed an administrative lawsuit against his dismissal but recently lost in the first trial and is currently awaiting the outcome of his appeal.* This article has been translated by AI. 2026-07-30 15:00:00
  • Survey: 70% of Young Employees Would Leave if Deposit Insurance Corporation Relocates
    Survey: 70% of Young Employees Would Leave if Deposit Insurance Corporation Relocates Concerns are rising that a potential relocation of the Deposit Insurance Corporation (DIC) could lead to a significant exodus of young employees. The low willingness of key 4th and 5th level staff to remain, coupled with potential disruptions in collaboration with financial authorities, has raised alarms.Reports indicate that plans are being considered to move the Financial Services Commission and the DIC to Sejong.According to a survey commissioned by the DIC labor union and conducted by the Law Firm Lin's Financial Law Research Center, only 24.1% of the 740 employees surveyed expressed a willingness to continue working after a relocation.Younger employees showed a higher likelihood of leaving. Among the 4th and 5th level staff, who make up 70.2% of the workforce, only 9.5% of the 5th level employees in their 20s and 30s indicated they would stay, while 70% said they would not. For the 4th level employees, who are predominantly in their 30s and 40s, the willingness to remain was only 21.7%. Additionally, only 12% of employees with less than five years of service expressed intent to stay.In contrast, over 55% of managers in their 50s and 52.8% of employees with more than 20 years of service indicated they would continue working. This suggests that younger employees with shorter tenures are more likely to leave if the relocation occurs.The primary concerns for employees revolve around commuting conditions and issues related to their children's education and spouses' employment, with both factors affecting 93% of respondents. The fact that 99.2% of respondents reside in the Seoul and Gyeonggi-Incheon areas likely contributes to these concerns.The potential loss of personnel could weaken the DIC's operational capabilities. About 86.1% of employees believe that collaboration with related agencies, such as the Financial Services Commission and the Financial Supervisory Service, would suffer as a result of the relocation. Key tasks that could be impacted include inspections, joint inspections, decisions on handling insolvent financial institutions, risk notifications, and the payment of insurance to depositors.The DIC is responsible for early detection of financial institution failures and coordinating responses with financial authorities. Close collaboration is essential for managing insolvent financial institutions, providing financial support, and protecting depositors. Concerns are growing that the departure of experienced staff, combined with reduced inter-agency collaboration, could slow crisis response times.The research also concluded that the economic impact on the local area would be limited. As the DIC is a non-capital special corporation, its contribution to local taxes is minimal, and its fund management is restricted to safe assets such as government bonds, bank bonds, and deposits, making it difficult to translate into local investments.The labor union plans to use the findings from this research to determine the level of opposition to the proposed relocation. 2026-07-30 15:00:00
  • Korea bets on being indispensable in U.S.-China AI rivalry
    Korea bets on being indispensable in U.S.-China AI rivalry SEOUL, July 30 (AJP) - When the U.S. Federal Communications Commission (FCC) this week barred new imports of Chinese-made humanoid robots, it marked another escalation in the technology war that began with semiconductors and rare earths. More importantly, it showed that strategic competition has entered the age of physical artificial intelligence — where robots, AI models and communications networks are increasingly treated as national-security assets. For South Korea, the decision also sharpened a larger question: how does a middle power preserve its strategic autonomy when the world's two largest economies are steadily forcing countries to choose sides? The FCC on Tuesday (local time) placed foreign-made humanoid and quadruped robots, along with connected power inverters, on its national-security "Covered List," effectively blocking new models from receiving the authorization required to enter the U.S. market. Machines already operating in the field remain unaffected, but the door has largely closed for future Chinese entrants. "Following President Trump's leadership, the FCC will continue to do our part to secure America's critical supply chains, and, with today's action, the FCC is acting in lock step with our national security agencies to do just that," FCC Chairman Brendan Carr said. The unnamed target was unmistakable: China. The country accounts for an estimated 85 percent of the global humanoid robot market, and the restrictions fall most heavily on Unitree Robotics, whose backflipping G1 humanoid has become the symbol of China's rapidly advancing robotics industry. For Seoul, the story began with dirt. China's rare-earth export controls in April 2025 — tightened until U.S.-bound shipments of several critical minerals briefly fell to zero — demonstrated that supply-chain dependence itself had become a geopolitical weapon. Washington's response has steadily broadened from securing access to minerals toward reshaping the entire technology ecosystem. The latest robot restrictions are part of that broader strategy. This month, the Trump administration also convened a coalition of more than 20 countries, including Britain, Germany and Japan, to establish the security architecture and technical standards for sixth-generation wireless networks. The initiative, known as the Call to Action for 6G Leadership and Security, aims to ensure that the next communications infrastructure is designed largely outside China's technological sphere. "Today's action recognizes that 6G will be dramatically different from 5G, and that advancing U.S. and allied leadership requires a dramatically different playbook," said Arielle Roth, administrator of the National Telecommunications and Information Administration (NTIA). Taken together, the measures illustrate how Washington's strategy has expanded from controlling critical minerals to securing the entire AI technology stack — including semiconductors, communications networks, robotics and frontier AI models. Rare earths, batteries, advanced chips and artificial intelligence are increasingly treated not as separate industries but as components of a single strategic ecosystem. This is where South Korea occupies a different position from most middle powers. Rather than standing on the sidelines, Korea sits at the center of several supply chains Washington is trying to secure. Samsung Electronics and SK hynix dominate the world's advanced memory market, supplying the high-bandwidth memory (HBM) chips that underpin Nvidia's AI accelerators and much of today's generative AI infrastructure. That makes Seoul a partner Washington cannot easily sideline, even as strategic competition with Beijing intensifies. The importance of that relationship was evident last week in San Francisco, where President Lee Jae Myung unveiled what his office described as an "AI declaration" before meeting the leaders of America's most influential AI companies. Lee dined with Nvidia Chief Executive Jensen Huang, OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei, alongside the heads of Samsung Electronics, SK Group and Hyundai Motor Group. "The Republic of Korea intends to dramatically expand its investment in artificial intelligence going forward, so we look forward to Anthropic's particular interest, investment and contribution," Lee said. The same pattern is emerging in physical AI. Ironically, the strongest Western challenger to China's Unitree is Boston Dynamics — an American robotics pioneer wholly owned by South Korea's Hyundai Motor Group. Its Atlas humanoid entered commercial deployment this year on Hyundai production lines, creating an unusual industrial identity: a robot designed in the United States, commercialized by a Korean conglomerate and positioned as part of the Western response to China's robotics rise. A similar dynamic is unfolding in frontier AI. In May, OpenAI expanded the government-focused tier of its Daybreak cybersecurity initiative to South Korea, making it the third participating country after the United States and Canada, and one of the first in Asia. "The latest cyber AI capabilities must not remain confined to a select few," Jason Kwon, OpenAI's chief strategy officer, said in Seoul, describing advanced AI security as a shared responsibility among trusted partners. Anthropic has adopted an even more selective approach. Its most capable model, Mythos, remains unavailable to the public and is shared only through Project Glasswing, an invitation-only program focused on autonomous vulnerability detection. In June, Anthropic expanded the initiative to roughly 150 organizations across about 15 countries. South Korea was among the beneficiaries, with the Korea Internet & Security Agency (KISA), Samsung Electronics, SK hynix and SK Telecom gaining early access. Yet the episode also underscored the limits of partnership. Barely a week after Korea joined the program, Anthropic temporarily suspended access to its most advanced models to comply with new U.S. export-control rules — a reminder that even close allies remain subject to policies ultimately written in Washington. Strategic value, however, does not eliminate vulnerability. South Korean manufacturers continue to rely heavily on Chinese processing of rare earths, while China remains one of their largest export markets. As Washington expands restrictions across more sectors, measures aimed primarily at Beijing inevitably create collateral risks for Korean companies operating between the world's two largest economies. For decades, South Korea prospered by navigating between competing powers. The AI era presents a different proposition. Rather than relying on neutrality alone, Seoul is increasingly betting on indispensability — supplying the memory chips, advanced manufacturing, cybersecurity expertise and industrial capabilities that neither Washington nor Beijing can easily replace. Whether that strategy proves durable will depend on forces largely beyond Seoul's control. Yet as the technology rivalry moves from critical minerals to robots, frontier AI models and the infrastructure that connects them, becoming indispensable may offer South Korea a stronger form of strategic insurance than attempting to remain equidistant between two increasingly irreconcilable superpowers. 2026-07-30 14:59:28
  • Amorepacific Group Reports 53% Increase in Q2 Operating Profit Amid Global Growth
    Amorepacific Group Reports 53% Increase in Q2 Operating Profit Amid Global Growth Amorepacific Group reported double-digit growth in both sales and operating profit for the second quarter of this year, driven by strong performance in key domestic and international markets. On July 30, Amorepacific Group announced that its consolidated sales for the second quarter reached 1.2543 trillion won, with operating profit at 122.8 billion won. These figures represent increases of 14.6% and 53.3%, respectively, compared to the same period last year. In the domestic market, key product categories such as luxury, dermacosmetics, and hair care experienced steady growth. Notably, online and multi-brand shop (MBS) channels saw double-digit growth, contributing to improved performance. The operating profit margin for domestic operations also reached around 10%. Internationally, the company continued to grow in key markets, including North America, Europe, the Middle East, and Africa (EMEA), and Japan. In EMEA, COSRX ranked first in the beauty category on Amazon in Germany and the UK, while in Japan, it was recognized as the top brand in the first half of the 'Qoo10 Japan Mega Beauty Awards 2026.' Amorepacific, the group's flagship subsidiary, saw its sales and operating profit increase by 17% and 59%, respectively, driving overall group performance. Domestic sales rose by 10%, with operating profit up by 48%. By brand, Sulwhasoo and Hera showed strong sales across major channels, while AESTURA, led by its 'Atobarrier 365' line, demonstrated significant growth in MBS and online channels. The overseas business expanded its global growth base, with sales increasing by 28% and operating profit soaring by 99%. The performance in North America and EMEA was particularly strong, while Japan and the Asia-Pacific (APAC) markets also showed solid growth across key online and offline channels. In North America, AESTURA's 'Atobarrier 365 Cream' achieved triple-digit sales growth through Amazon and Sephora channels. Conversely, brands such as Innisfree, Etude, Espoir, and Amos Professional experienced declines in sales and operating profit due to channel efficiency measures. However, Osulloc continued to grow, benefiting from increased online gift set sales and rising revenue from its Matcha Station and Matcha Noodle Bar at the Jeju Tea Museum. An Amorepacific Group representative stated, "We are committed to leading the global beauty and wellness industry through our mid- to long-term vision, 'Create New Beauty.' To achieve this, we are focusing on five strategic initiatives: nurturing key global markets, enhancing integrated beauty solutions, advancing bio-technology-based anti-aging research and development, fostering agile organizational innovation, and transitioning to AI-driven operations."* This article has been translated by AI. 2026-07-30 14:52:20
  • Shinsegae Centum City Expands Summer Attractions and Continues Scholarship Program
    Shinsegae Centum City Expands Summer Attractions and Continues Scholarship Program Shinsegae Centum City is launching a series of pop-up stores this summer, featuring eyewear, smartphones, and fashion goods. The shopping center is also continuing its scholarship program for local youth, now in its 18th year, which began in 2009.The pop-up store for the eyewear brand 'MUUT' will be open on the fourth floor of the department store until August 12.Under the slogan 'Always Curious,' MUUT reinterprets eyewear as a fashion accessory rather than just a vision correction tool. Customers who purchase at least one eyewear item during the pop-up will receive a 'minimal vacation bag' on a first-come, first-served basis. Additionally, purchasing collaborative products from the brand 'MISEKI' and the 'MEND Collection' will entitle customers to a Polaroid photo service and an extra vacation bag.Samsung Galaxy New Product Pop-Up... Pre-orders for Foldable Lineup BeginShinsegae Centum City is hosting a pop-up event on the B2 and 7th floors until August 5, where customers can experience Samsung's latest foldable smartphones.With the slogan 'Foldable, Completion and New Beginning,' this pop-up allows customers to try out the new Galaxy Z Fold8 Ultra, Z Fold8, and Z Flip8 models, as well as receive pre-order and purchase consultations. The pre-order period runs from July 28 to August 3, with activation starting on August 4.Pre-order customers will benefit from the 'Double Storage' offer, which provides free or discounted upgrades on storage capacity. Customers purchasing the 256GB model will receive a free upgrade to 512GB, while those buying the 512GB model can upgrade to 1TB at a 50% discount. Additionally, customers will receive a 10% discount coupon for the Galaxy Watch9 Ultra2 and a 30% discount coupon for exclusive accessories and cases. Embracing Korean Beauty... National Geographic Apparel X Cultural Heritage Administration Pop-UpShinsegae Centum City is operating a pop-up store for the 'K-Heritage' collection by National Geographic Apparel in collaboration with the Cultural Heritage Administration on the basement level until today.This collection features modern graphics and designs inspired by traditional Korean elements such as Hangeul, folk paintings, and mother-of-pearl. The pop-up showcases a variety of products, including T-shirts, outerwear, and running concept items featuring Hangeul, the Ten Symbols of Longevity, and Dancheong graphics, as well as children's items like dresses and pajama sets, with some products available in limited quantities.Accessories such as mother-of-pearl keychains, square carabiner keychains, round folding fans, and business card cases are also for sale.The pop-up space includes photo zones, folk painting zones, Hangeul zones, and mother-of-pearl zones, offering visitors a chance to participate in a gacha machine for a chance to win a sock set or mug by uploading their visit on social media. A promotion is also running where customers can receive a mother-of-pearl hand mirror and a personalized wooden stamp based on their purchase amount.18th Hope Scholarship for Local Talent... 130 Million Won Awarded to 122 YouthOn July 16, Shinsegae Centum City held the '18th Hope Scholarship Award Ceremony' at the department store, distributing 130 million won in scholarships to 122 local youth.Among them, 50 middle and high school students from Haeundae District received 5 million won each, totaling 50 million won. Haeundae District recommended these students, who face academic challenges due to financial difficulties.Attendees at the ceremony included Kim Seong-soo, Mayor of Haeundae District; Han Dong-in, Director of Planning at Busan Metropolitan Office of Education; Jo Yu-jin, Head of the Busan Regional Office of the Green Umbrella Child Fund; and Kwak Young-min, Manager of Shinsegae Centum City.Since its opening in 2009, this initiative has reached its 18th year, with a total donation amount of 2.19 billion won and over 2,200 beneficiaries.Shinsegae Centum City has also launched a local coexistence campaign, 'SHINSEGAE LOVES BUSAN,' and established a volunteer group under the same name to expand its community support activities.Kim Seong-soo expressed gratitude to Shinsegae Centum City for its consistent support, stating, 'I appreciate Shinsegae Centum City for continuously helping local youth not to give up on their dreams due to financial difficulties.' He added, 'We will further expand public-private cooperation and welfare resource connections to ensure that our youth can focus on their studies in a stable environment and nurture their future dreams.'Kwak Young-min stated, 'We will continue to support children who will lead the future of our community, so they can pursue their studies with hope and courage.'* This article has been translated by AI. 2026-07-30 14:52:00
  • National Pension Fund Faces 200 Trillion Won Loss Amid Market Volatility
    National Pension Fund Faces 200 Trillion Won Loss Amid Market Volatility Recent estimates suggest that the National Pension Service's evaluation gains from domestic stocks have sharply declined amid increasing market volatility.On July 30, related industry sources and online communities reported the spread of these estimates.The disclosed data includes projections of the National Pension's evaluation gains based on fluctuations in the KOSPI index, as well as analyses regarding the extension of the pension depletion period. Notably, the data indicates that while the KOSPI reached approximately 314 trillion won in mid-June, when it was around 9,100 points, it has recently dropped to an estimated 95 trillion won due to falling stock prices. This decline translates to a loss exceeding 200 trillion won on paper.The controversy centers on the issues of insufficient 'rebalancing' and 'equity in disclosures.' During market upswings, unrealized gains were promoted as a means to extend the pension depletion period, but critics argue that there has been a lack of official explanations regarding the substantial unrealized losses and declines in evaluation gains during downturns.According to data from the Korea Exchange, pension funds, including the National Pension, were net buyers in the KOSPI market, purchasing over 100 billion won even during the market downturn in July. On days when the market experienced significant declines, they maintained a net buying trend, acquiring more than 110 billion won, prioritizing purchases over realizing profits through sales.As news of this situation spread, criticism erupted on internet communities and social media. Users expressed dissatisfaction, stating, "When profits were up, they promoted unrealized gains to delay pension depletion, but now they remain silent amid hundreds of trillions in evaluation losses," and "The National Pension has only enriched foreign investors."* This article has been translated by AI. 2026-07-30 14:48:00