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  • K-Bank Reports 600 Billion Won in First Half Profit, Down 28% Year-on-Year
    K-Bank Reports 600 Billion Won in First Half Profit, Down 28% Year-on-Year K-Bank reported disappointing results for the first half of the year. Despite an increase in personal business loans and interest income, a decline in non-interest income due to reduced bond sale profits hindered performance.On July 30, K-Bank announced a net profit of 600 billion won for the first half of the year, a 28.6% decrease from 842 billion won during the same period last year. In the second quarter alone, profits plummeted 60.7% to 268 billion won.The primary reason for the decline was the reduction in non-interest income. For the first half, non-interest income totaled 233 billion won, down 68% from 733 billion won in the same period last year. K-Bank attributed this drop to the decreased profits from bond sales.Additionally, the cost burden from expanded lending increased. The provision for credit losses for the first half rose to 513 billion won, a 24.2% increase from 413 billion won the previous year. Although the credit loss ratio improved to 1.08% from 1.13% in the second quarter of last year, the overall increase in lending volume led to higher costs.In contrast, the core operating segment, interest income, showed improvement. K-Bank's interest income for the first half reached 2.53 trillion won, a nearly 20% increase from 2.11 trillion won in the same period last year. The net interest margin (NIM) also rose to 1.59%, up 0.21 percentage points from 1.38% in the first half of last year.As of the end of the second quarter, the outstanding loan balance increased by 13.8% year-on-year to 19.8 trillion won. Despite ongoing management of household loans, the growth in personal business loans drove this increase, with the balance of personal business loans more than doubling to 3.3 trillion won over the past year.Key financial indicators remained stable. The delinquency rate at the end of the second quarter was 0.60%, similar to 0.59% in the same period last year, while the ratio of non-performing loans was managed at 0.59%. Notably, the delinquency rate for personal business loans decreased to 0.51%, down from 0.93% a year earlier. The Bank for International Settlements (BIS) ratio also maintained a high level of capital adequacy at 20.02%.K-Bank plans to strengthen its growth drivers in the second half by focusing on expanding personal business loans and enhancing capabilities in digital asset-related businesses. The bank aims to broaden the types of properties and purposes for real estate-backed loans for business owners and is laying the groundwork for a non-face-to-face loan service for small and medium-sized enterprises, targeting a launch next year.A K-Bank official stated, "We have strengthened our revenue base by expanding our customer base and achieving qualitative and quantitative growth in personal business loans. In the future, we will secure a leading position in the expanding personal business market and in future financial areas such as digital assets and stablecoins to solidify our foundation for sustainable growth."* This article has been translated by AI. 2026-07-30 16:00:00
  • Kangjin County Distributes Water and Fans to Protect Residents from Heatwave
    Kangjin County Distributes Water and Fans to Protect Residents from Heatwave Kangjin County has initiated a program to distribute bottled water and fans to residents and tourists to prevent heat-related illnesses during the ongoing heatwave. The Kangjin County Volunteer Group announced that from July 29 to August 24, they will conduct water distribution and heat prevention awareness activities at the Kangjin Passenger Terminal and the traditional market in Kangjin-eup. This campaign aims to prevent health issues caused by the summer heat and to raise safety awareness among residents. The group held a regular meeting in advance to plan the activities, focusing on distributing water and fans on market days and at the bus terminal while providing guidance on heat response measures and health management tips. Particularly, they are concentrating on promoting hydration and advising vulnerable groups, such as the elderly and traditional market visitors, to avoid outdoor activities during peak heat hours. They are also sharing safety guidelines that can be practiced in daily life. The promotional activities will take place over five sessions, with shifts organized for both morning and afternoon. The initiative aims to foster a spirit of volunteerism while also informing residents about key policies in Kangjin County, such as the Marang Nolto Seafood Market and the Hometown Love Donation Program. The bottled water used in this event was provided through the sponsorship of Namdo Logistics CEO Lim Kwang-soo and the membership fees of the Kangjin County Volunteer Group. The collaboration of private sponsorship and voluntary participation from the group has enhanced the significance of community sharing. On July 29, Yu Dong-sik, who received bottled water at the Kangjin Passenger Terminal, said, "I am a graduate of Chillyang Middle School and stopped by my hometown on my way back to Seoul. Receiving water directly from the county mayor not only cools me down but also makes me feel the warmth of my hometown." Choi Je-young, chair of the Kangjin County Volunteer Group, stated, "As the heat continues, we want to contribute to the health and safety of many residents by distributing water and fans at the terminal and market. We will continue to expand various volunteer activities in collaboration with the community." Kangjin County Mayor Kang Jin-won also participated in the heat prevention campaign by distributing water to residents and tourists at the Kangjin Passenger Terminal. Mayor Kang said, "Each bottle of cool water carries my wish for the health of our residents. I hope you can empty the heat and fill yourselves with coolness. A small act of sharing can be the strength to overcome the heat, and I wish everyone a healthy summer." Meanwhile, the Kangjin County Volunteer Group consists of 23 members from 16 volunteer organizations and continues to engage in various community service activities, including support for vulnerable groups, environmental cleanup, and disaster response.* This article has been translated by AI. 2026-07-30 16:00:00
  • Fed Holds Rates Steady, Signals Increased Likelihood of Hikes This Year
    Fed Holds Rates Steady, Signals Increased Likelihood of Hikes This Year The U.S. Federal Reserve has decided to keep its benchmark interest rate steady, but the call for rate hikes from three members of the Federal Open Market Committee (FOMC) has increased the likelihood of additional increases this year.Last month, all 12 voting members of the FOMC agreed to maintain the current rate, but this time, three members advocated for a 0.25 percentage point increase. In the Fed's recent interest rate projections, half of the members anticipated at least one rate hike by the end of the year. Analysts suggest that the possibility of rate increases has grown due to rising inflation.On July 29, following a two-day FOMC meeting, the Fed announced it would keep the benchmark interest rate at 3.50% to 3.75%. This marks the fifth consecutive month of holding rates steady, with the decision passing by a vote of 9 to 3.Three dissenting members—Cleveland Fed President Loretta Mester, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan—argued against the hold and called for a 0.25 percentage point increase. This is the first time since September 2016 that three members have voted against the FOMC's decision to hold rates.Shift from Caution to Calls for IncreasesA notable change in this meeting is the emergence of voices within the Fed advocating for rate increases, as reflected in the voting.Mester, Kashkari, and Logan had previously voted against policy decisions in April, but at that time, they opposed the language that left open the possibility of rate cuts rather than the hold itself.This time, all three explicitly called for a 0.25 percentage point increase. The internal dialogue within the Fed has shifted from a cautious stance on rate cuts to a stronger call for increases.The possibility of rate hikes this year was also confirmed in the Fed's recent projections. The dot plot from June indicated that among the 18 members who submitted forecasts, nine expected at least one rate hike this year. Eight members anticipated that the current rate would remain unchanged through the end of the year, while only one member projected a rate cut.Of the nine members expecting a hike, six believe that two or more increases are necessary this year.The median forecast for the Fed's year-end interest rate has risen from 3.4% in March to 3.8% in June. During the same period, the projected inflation rate for personal consumption expenditures (PCE) increased from 2.7% to 3.6%, while the core PCE inflation rate, excluding food and energy, rose from 2.7% to 3.3%.Wash Leaves Door Open for Rate HikesFed Chair Kevin Wash has also not ruled out the possibility of future rate increases.In a press conference, Wash did not specify how rates would be adjusted but stated he would not hesitate to make changes if necessary. He emphasized that it is difficult to conclude that the high inflation, which has persisted for over five years, has been resolved by only a temporary slowdown in prices. He reiterated the Fed's commitment to achieving its inflation target of 2%, suggesting that if inflation remains elevated, rate hikes could be a necessary response.The primary reason the Fed is keeping the door open for rate hikes is that inflation continues to exceed its target significantly.The PCE price index, which the Fed closely monitors, rose 4.1% in May compared to the same month last year. The core PCE price index, excluding food and energy, also increased by 3.4%, surpassing the Fed's 2% target.The U.S. economy and job market have not deteriorated to the extent that would necessitate a rapid reduction in rates. In its statement, the Fed noted that the U.S. economy is expanding at a solid pace and that the job market remains relatively stable.Continued Inflation Slowdown Could Reduce Need for HikesHowever, this meeting did not send a clear signal that an increase is imminent.The recent slowdown in inflation is a factor that could reduce the necessity for rate hikes. The consumer price index (CPI) for June rose 3.5% year-over-year, a significant decrease from May's 4.2%. The core CPI, excluding food and energy, also slowed from 2.9% to 2.6%.If this trend of declining inflation continues, the Fed may find less need to raise rates further.Financial markets did not interpret this meeting as an immediate signal for rate hikes. Prior to the meeting, markets had priced in nearly a 100% chance of a September increase if rates were held steady this time. However, following the policy announcement, the CME FedWatch tool indicated the probability of a September rate hike dropped to about 57%.The next FOMC meeting is scheduled for September 15-16. Economic indicators related to inflation and employment released before that meeting are expected to be key factors in determining whether rate hikes will occur this year.* This article has been translated by AI. 2026-07-30 16:00:00
  • MirrorAI Launches AI Dating App Mirror to Facilitate Introductions
    MirrorAI Launches AI Dating App 'Mirror' to Facilitate Introductions MirrorAI has announced the launch of its relationship agent app, 'Mirror,' which uses artificial intelligence (AI) to engage in initial conversations with other users' AIs and analyze compatibility.Unlike traditional dating apps that focus on profiles and conditions, Mirror employs an AI that learns users' preferences, values, and communication styles to find suitable matches. The AI reduces the burden of making first contact and the fatigue of repetitive condition searches, leaving the final decision to the user.As users interact with the app's AI character, a personalized 'My AI' is created based on their responses. During the matching process, the AIs of both users engage in approximately 20 preliminary conversations.Users can monitor these AI conversations in real-time and review a compatibility analysis report before deciding whether to connect with the actual person. A chat room is only created if both users agree to the connection.MirrorAI described the app as more than just a chatbot that answers questions or recommends matches based on set criteria. It is designed to continuously remember and understand users, assisting in forming real human relationships.Kim Soo-yeon, CEO of MirrorAI, stated, “The era has begun where AI that remembers and understands users connects people.” She added, “Mirror demonstrates the role AI can play in the relationship exploration process.”To ensure a safe environment, only users aged 19 and older who have completed mobile phone verification can register. Basic AI conversation and service exploration features are available for free, while some premium features, such as AI matchmaking requests, voice calls, and image generation, require in-app currency.MirrorAI has developed the planning, development, and operational systems for Mirror using a one-person development model that leverages generative AI tools without external investment. The company explained that AI is applied not only as a core function of the service but throughout the product creation process.In the future, the company plans to establish a proprietary small language model (SLM) specialized in emotional conversations in Korean. Long-term, it aims to expand the on-screen AI into a physical AI in the form of a companion robot that can interact and respond in the same space as users.Kim emphasized, “Just as AI can take over tasks, it can also assist users in exploring relationships. We aim to create a relationship-focused AI service that comes to mind first for those feeling lonely or in need of new connections.”* This article has been translated by AI. 2026-07-30 15:56:00
  • Gwangju City Activates Drought Response Center for Agricultural Water Supply
    Gwangju City Activates Drought Response Center for Agricultural Water Supply Gwangju City has activated an agricultural water drought response center to address the ongoing lack of rainfall and declining reservoir levels until the farming season concludes. On July 30, Gwangju City announced that it is collaborating with local governments and the Korea Rural Community Corporation to continuously monitor the agricultural water supply situation and implement an emergency water supply system in areas at risk of shortages. As of July 24, the average reservoir level for agricultural use in the region was reported at 59.4%, which is 86.6% of the normal average level of 68.5%. Some areas are experiencing lower levels than usual, raising concerns about potential worsening conditions for agricultural water supply depending on future rainfall. In response, the city has established a drought response center for agricultural water, led by the head of the agricultural policy department, and has mobilized all members of the agricultural infrastructure team to operate in two shifts. The center will continuously monitor reservoir levels, water supply status, and any drought-related damages while maintaining an emergency response system. Key monitoring tasks include managing reservoir levels and water supply status, focusing on drought-prone areas, checking the operational status of water supply facilities such as wells and pumping stations, managing water supply measures for reservoirs below 50% capacity, and responding swiftly to drought damages and complaints. Additionally, the city plans to strengthen its cooperation with the Jeonnam Regional Headquarters of the Korea Rural Community Corporation and local drought response centers to expand on-site responses in areas with low reservoir levels or anticipated agricultural water shortages. To prepare for a prolonged drought, various water supply measures tailored to local conditions will be implemented, including utilizing river water for pumping and storage, direct water supply from irrigation channels, operating wells, and reusing drainage water. The city will also enhance monitoring and on-site inspections in areas with weak water supply, such as the ends of reservoirs and paddy fields, and will quickly deploy equipment and personnel to minimize crop damage in regions requiring water supply. Kim Hyun-mi, head of the agricultural policy department in Gwangju City, stated, "Given that reservoir levels are currently lower than normal, along with extreme heat and variability in rainfall, we cannot afford to let our guard down. We will work closely with local governments and the Korea Rural Community Corporation to identify areas at risk of water shortages and swiftly deploy available personnel and equipment to prevent agricultural damage." Meanwhile, Gwangju City plans to continuously monitor weather conditions and changes in reservoir levels while strengthening efforts to secure agricultural water and respond on-site to maintain a stable farming environment in anticipation of prolonged drought conditions.* This article has been translated by AI. 2026-07-30 15:52:00
  • Koreas Trade Chief Visits U.S. to Discuss Trade Issues Including Coupang
    Korea's Trade Chief Visits U.S. to Discuss Trade Issues Including Coupang Yeo Han-goo, head of the Ministry of Trade, Industry and Energy's trade negotiation office, is set to visit the United States just five days after returning to Korea. This trip aims to address ongoing trade issues, including those related to Coupang.The ministry announced on July 30 that Yeo will be in the U.S. from today until August 2.A ministry official stated, "This visit is timed with the National Governors Association meeting, allowing for discussions with governors on key trade issues with the U.S. We are undertaking this trip to manage the trade environment with the U.S. through various outreach efforts."During his visit, Yeo is expected to focus on alleviating concerns regarding domestic digital regulations, particularly in relation to the Coupang situation. He is also likely to respond to the ongoing Section 301 investigation concerning structural overproduction in the manufacturing sector.This marks Yeo's second trip to the U.S. in just five days; he previously met with key figures from the U.S. administration, Congress, and industry leaders in Washington, D.C., from July 21 to 24.During that visit, Yeo met with ten U.S. senators and representatives, including Senator Bill Hagerty and Representative Adrian Smith, chair of the House Ways and Means Trade Subcommittee. He explained that South Korea's digital laws and policies do not discriminate against U.S. companies and emphasized that South Korea is one of the largest investors in the U.S.* This article has been translated by AI. 2026-07-30 15:48:10
  • People Power Party Confirms Kim Jung-jae as Candidate for Gender Equality Family Committee Chair
    People Power Party Confirms Kim Jung-jae as Candidate for Gender Equality Family Committee Chair The People Power Party confirmed on July 30 that Kim Jung-jae, a three-term lawmaker, will be the candidate for the chair of the Gender Equality Family Committee in the 22nd National Assembly.During a party meeting held at the National Assembly, Kim was unanimously endorsed as the sole candidate for the position. Kim Seung-soo, the party's floor operations chief, announced, "I declare that Kim Jung-jae has been elected as the candidate for the chair of the Gender Equality Family Committee." Kim Jung-jae stated, "The Gender Equality Family Committee has a budget of only 2 trillion won, yet its work carries the weight of 200 trillion won. Our society has many marginalized groups, especially children in grandparent-headed households and out-of-school youth. Although we talk about gender equality, it is not being realized in practice." She added, "The standards by which we can gauge our society are issues related to family and gender equality. I will do my best, even if I am lacking." Kim also expressed concern about breaking the long-standing tradition of having a three-term lawmaker as chair, saying, "I hope we can continue this tradition well, and I will serve diligently." Previously, lawmaker Im I-ja had been confirmed as the candidate for the chair but stepped aside in favor of Kim.During the meeting, Kwon Young-jin, who faced controversy after a physical altercation regarding committee assignments, publicly apologized. Kwon remarked, "The People Power Party is my political home and perhaps my entire life. The past week has been more painful due to my own feelings of shame and self-reproach than the ridicule and criticism from the world. I will strive to be a better politician, reflecting and being more self-disciplined." He also stated, "I will sincerely engage in the ethics committee's disciplinary process and calmly await the results, hoping that my disciplinary issues do not become a source of conflict and division among lawmakers."* This article has been translated by AI. 2026-07-30 15:44:20
  • U.S. Military Considers Seizing Phones of Deployed Troops in the Middle East
    U.S. Military Considers Seizing Phones of Deployed Troops in the Middle East The U.S. military is reportedly considering seizing the cell phones of some troops deployed in the Middle East.According to Reuters on July 29, U.S. Central Command Commander Brad Cooper warned troops stationed in the region in a letter sent on July 28 not to post videos and photos taken with their phones online.Cooper noted that Iran is monitoring news reports and online posts to assess the reactions of U.S. troops and the success of attacks in near real-time. He stated, "The direct and unavoidable costs of such open-source information could lead to casualties among U.S. troops in Gulf nations targeted by attacks and civilians in the Middle East."The military is indeed reviewing the possibility of seizing phones. Two sources indicated that some U.S. troops in Jordan, which has faced multiple Iranian attacks, have been informed that their phones could be confiscated within days. However, other sources clarified that the decision on phone seizures has not yet been finalized.Timothy Hawkins, a spokesperson for U.S. Central Command, said, "This message is intended to remind troops of the overall importance of maintaining operational security," adding that it is one of several instances where Cooper has communicated operational priorities.Particularly concerning to the military is a video taken on July 17 during an Iranian attack on the Muwaffaq Salti Air Base in Jordan. A U.S. service member posted footage on social media showing fellow troops running to a shelter, captured with camera-equipped Meta smart glasses.Cooper warned that the video exposed the movements of troops and their methods of seeking shelter. He emphasized that while U.S. electronic warfare efforts make it difficult for Iran to accurately assess the results of its attacks, information released by troops and the media is filling that gap.He also stressed, "Revealing detailed information could effectively give the Iranian military an immediate green light to launch a much more destructive second attack."* This article has been translated by AI. 2026-07-30 15:44:10
  • Lotte Global Logistics Partners with FR Robotics to Develop AI-Powered Wearable Robots
    Lotte Global Logistics Partners with FR Robotics to Develop AI-Powered Wearable Robots 롯데글로벌로지스가 로봇 전문기업 에프알티로보틱스와 AI(인공지능) 기반 웨어러블 로봇 공동 개발 및 상용화를 위한 업무협약을 체결했다고 30일 밝혔다.지난 29일 서울 강남구 에프알티로보틱스 스토어에서 열린 협약식에는 육창용 롯데글로벌로지스 테크놀로지부문장과 장재호 에프알티로보틱스 대표 등이 참석했다.앞서 양사는 지난 3월 정부 11개 부처가 공동 추진하는 AI 응용제품 신속 상용화 지원사업인 AX스프린트의 산업통상부 과제에 선정됐다. 이번 협약을 계기로 피지컬 AI를 활용한 근력 증강 웨어러블 로봇 개발과 물류 현장 최적화에 나선다.롯데글로벌로지스는 에프알티로보틱스가 개발한 웨어러블 로봇을 실제 물류 현장에 도입해 작업자의 다양한 동작 데이터를 수집할 예정이다. 이를 토대로 AI 제어 알고리즘을 고도화하고 물류 작업 환경에 적합한 정밀 제어 기술을 확보한다는 계획이다.양사는 웨어러블 로봇을 통해 작업자의 근골격계 부담을 낮추고 작업 효율성을 높이는 한편, 실제 현장에서 활용할 수 있는 AI 기반 로봇 솔루션의 상용화도 추진한다.육창용 부문장은 "물류 현장의 작업 환경 개선과 근로자 안전 확보는 매우 중요한 과제"라며 "피지컬 AI 기반 웨어러블 로봇이 물류 산업의 새로운 혁신 모델이 되도록 협력하겠다"고 말했다.한편, 롯데글로벌로지스는 지난달 발간한 '2025 지속가능경영보고서'를 통해 스마트 피난 시스템과 AI 휴머노이드, 외골격 슈트 도입 실증 등 산업재해 예방 활동을 소개했다.* This article has been translated by AI. 2026-07-30 15:44:00
  • Seoul Retail Market Thrives While Regional Areas Struggle
    Seoul Retail Market Thrives While Regional Areas Struggle The retail rental market in Seoul has shown resilience, buoyed by an increase in foreign tourists and foot traffic, while regional markets continue to face challenges due to declining consumer spending and prolonged vacancies, highlighting a stark polarization in the commercial real estate sector.The Korea Real Estate Agency reported on July 30 that the national integrated retail rental price index fell by 0.03% compared to the previous quarter. In contrast, Seoul saw an increase of 0.46%, diverging from the national downward trend.The rental market in Seoul has been particularly strong in key areas attracting foreign tourists. The rental price index for Myeongdong rose by 3.19%, marking the highest increase among major districts in Seoul. Ttukseom and Jongno also saw increases of 2.55% and 1.28%, respectively.All types of retail spaces in Seoul experienced rental price increases. Medium to large retail spaces rose by 0.50%, small retail spaces by 0.45%, and collective retail spaces by 0.34%. The only regions where retail rental prices increased nationwide were Seoul and Busan.Conversely, regional markets continued to see rental price declines due to decreased sales and prolonged vacancies. The integrated retail rental price index for Chungbuk fell by 0.27%, the largest drop among regions, while Jeonnam saw a decrease of 0.25%.In specific areas, the rental price index for Chungbuk Innovation City dropped by 1.97%, and the Chungbuk University area also saw a decline of 0.78%. The Korea Real Estate Agency attributed these trends to market decline, long-term vacancies, and downward adjustments in rental prices to address vacancies.The burden of vacancies is also more pronounced in regional areas. The national average vacancy rate for general retail spaces is 13.4%, up 0.3 percentage points from the previous quarter. The vacancy rate for medium to large retail spaces is 14.3%, while small retail spaces stand at 8.5%. The vacancy rate for first-floor general retail spaces, which are more sensitive to market conditions, is 6.7%.By region, Sejong has the highest vacancy rate at 22.8%. Daegu follows at 17.8%, Chungbuk at 17.4%, Gyeongbuk at 16.7%, and Gwangju at 16.5%, all exceeding the national average. In contrast, Seoul's general retail vacancy rate is 9.4%, lower than the national average.Unlike the retail sector, the office market continues to rise. The national office rental price index increased by 0.42%, while Seoul's rose by 0.61%. The office rental price index in Seoul has now increased for 18 consecutive quarters since the first quarter of 2022.In Seoul, the office rental price indices for Gangnam and the city center each rose by 0.65%. The Yeouido and Mapo areas also saw an increase of 0.50%. The stability in demand for prime office spaces in Gangnam and the city center, along with increased relocation demand due to redevelopment in Yeouido, were noted as contributing factors.Investment returns have also improved, driven by rising asset values in the metropolitan area. The national office investment return rate is now 2.15%, up 0.35 percentage points from the previous quarter. In Seoul, the office investment return rate is 2.77%, with Gangnam at 3.00%, the city center at 2.91%, and Yeouido and Mapo at 2.87%.In contrast, the investment return rates for retail spaces have increased, with medium to large spaces at 1.10%, small spaces at 0.86%, and collective retail spaces at 1.30%. However, the regional real estate market continues to face declines in asset values, while the capital region, including Seoul and Gyeonggi, has seen rising capital returns, widening the regional disparity.* This article has been translated by AI. 2026-07-30 15:40:20