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Local Night Market 'Pado Market' Revitalizes Fishing Village in Gijang Local night market 'Pado Market in Mundong' is generating explosive interest, with reservations selling out quickly, as it lights up the summer nights along the coast of Gijang.Gijang County announced on July 30 that it will host the night market event from August 1 to 2 at the Mundong breakwater in Ilgwang-eup to revitalize the fishing village.This event features a variety of cultural programs, including the debut of new trot songs by local seniors and documentary production, presenting a new model for fishing village revitalization.According to Gijang County, the main experiential programs at Pado Market, such as marine healing paddleboarding, cooking classes, and seaweed lunchbox making, have already reached full capacity for reservations.The overwhelming number of applicants has led organizers to adjust participant numbers based on their own criteria due to the high demand.The budget for this event is approximately 40 million won. While it does not reach the scale of large regional festivals, it boasts strong community participation and creative planning in a flea market format.To prepare for potential crowding, the county has shared site layouts and safety plans with disaster response departments and coordinated with local police and fire departments to establish a comprehensive traffic control and safety network.The highlight of the night market will be the live debut performance of the trot song 'Muno Seong Story' on the evening of August 1. This song was co-written by eight local seniors, who have an average age of 73 and have lived in the village for an average of 60 years.A representative from the organizing committee explained, "Initially, we planned to offer health and leisure programs like gardening and Pilates, but the seniors expressed a desire to 'have fun instead of just learning,' which inspired our planning."During the first two classes with instructor Jo Tae-jun, the seniors shared their cherished memories and local scenery, which became the lyrics of the song.Although they initially struggled with the unfamiliar tempo and recording process, the seniors' enthusiasm was undeniable, with one stating, "We stuck the lyrics on the refrigerator and sang them while passing by."During studio recording at Ulsan Music Creation Center, the eight voices blended harmoniously, leaving both the seniors and staff deeply moved.This beautiful endeavor is not a one-time performance. A professional director will film an official music video on August 10, and they aim to produce a documentary covering the entire process from songwriting to performance for submission to a film festival in the first half of next year.This event is part of the 'Mundong Living Area Fishing Village Revitalization Project,' which is set to run from 2023 to 2026 (with an extension planned until December 2027) in the Muno Seong village area of Ilgwang-eup, covering 244,000 square meters.Under the vision of 'Restoration and Coexistence in the Sea Garden,' this project involves public institutions such as the Ministry of Oceans and Fisheries, Busan Metropolitan City, and Gijang County. Private organizations 'Cultural Arts Plan B' and 'Local by Local' have formed a consortium to lead on-site operations.Cultural Arts Plan B, which oversees the trot program, focuses on community revitalization, cultural urban regeneration, and local content production.Partner organization Local by Local is responsible for discovering creators and developing and branding local products, enhancing economic self-sufficiency. They are also working on job creation and attracting residents to the fishing village alongside improvements to hardware infrastructure, such as the construction of a community support facility and maintenance of fishing port facilities.Woo Seong-bin, the head of Gijang County, stated, "Pado Market is a meaningful event created and participated in by the residents, showcasing the charm of the fishing village. I hope many people visit Mundong to create special summer memories through diverse experiences."* This article has been translated by AI. 2026-07-30 16:24:00 -
Hong Myung-bo Denies Team Discord Over Interview Boycott, Explains Tactical Decisions Hong Myung-bo, the head coach of the South Korean national soccer team, stated that there was no internal conflict within the team regarding the alleged interview boycott that arose during the 2026 FIFA World Cup in North and Central America.On July 30, Hong appeared as a witness at a hearing held by the National Assembly's Culture, Sports and Tourism Committee, where he denied allegations surrounding media interactions and player selections during the tournament.Previously, during a training session at the team's base camp in Guadalajara, Mexico, on June 8, some media members made inappropriate remarks towards the players, leading the team to refrain from participating in press conferences and interviews.During the hearing, lawmaker Jeong Yeon-wook from the People Power Party questioned Hong about rumors that he instructed players to end the interview boycott after the team's 1-0 loss to Mexico in the group stage, and that this led to conflicts with Son Heung-min (LAFC) and Lee Jae-sung (Mainz).In response, Hong firmly denied giving such an order, stating, "That is not true. I have never instructed the players to conduct interviews. While the players had differing opinions, I believe the gap was not significant enough to affect the team." He added, "Some players wanted to do interviews, while others felt they should wait until issues were resolved. Although there was no consensus, I hoped the matter would be resolved quickly through dialogue."He also dismissed claims that Son and Lee's exclusion from the starting lineup in the third group match against South Africa (which ended in a 1-0 loss) was related to the controversy."That is completely false. The decision not to include the two players was a tactical judgment," Hong explained. "I stood by the players and understood their perspectives well." He expressed disappointment that the issue originated from outside the team.Kim Jin-kyu, a former assistant coach who also testified, emphasized that the decision to exclude key players for the match against South Africa was not a retaliatory measure. When asked by lawmaker Choi Min-hee from the Democratic Party whether the exclusions were punitive, Kim replied, "There was absolutely none of that. The exclusion of Son Heung-min and Lee Jae-sung was a tactical decision for game management. I do not believe their absence led to our loss in the match." 2026-07-30 16:24:00 -
Fear of Forced Liquidation Becomes Reality as Stock Market Plummets The KOSPI index has experienced three consecutive days of declines, dropping 1,162.19 points, as market attention shifts from the index's fall to the scale of forced liquidations and margin calls. Concerns are growing that the drop in collateral value could lead to increased volatility in the stock market.According to the Korea Financial Investment Association, the scale of forced liquidations on July 29 reached 61.1 billion won, a staggering 340% increase from the previous day's 13.9 billion won. The proportion of forced liquidations to the total margin debt also rose from 1.3% to 5.0% during the same period. The margin debt was recorded at 12.237 trillion won on July 28 and 12 trillion won on July 29.Margin debt occurs when investors purchase more stocks on margin than they have in cash and fail to pay the outstanding amount by the settlement date, which is two trading days later (D+2). If investors cannot repay their margin debt on time, brokerage firms can sell their holdings at market prices without the investors' consent to recover the debt, a process known as forced liquidation.The domestic stock market has shown a record decline for three consecutive days. The KOSPI fell by 10.84% and 5.98% on July 28 and 29, respectively. On July 28, it dropped to 5,992.91 during trading, marking the first time it fell below the 6,000 mark since April 14. The following day, it fell to 5,262.77. On July 30, the index initially rebounded by over 5% but ultimately closed down 1.23%, failing to recover the 6,000 level.The KOSDAQ market is faring even worse. The KOSDAQ index fell by 7.72% on July 28, dipping below 700 for the first time since April of last year. It continued to decline by 6.12% on July 29 and an additional 2.70% on July 30, closing at 644.78. This level is comparable to the lows seen during the state of emergency in December 2024. If the downward trend continues, further forced liquidations could exacerbate market declines and increase investor losses in a vicious cycle.Market observers are focusing on the likelihood that the burden of forced liquidations will persist for the time being. The balance of margin loans, which approached 38 trillion won in mid-June, has decreased to the 32 trillion won range since July 22, but remains at a high level.A securities industry official stated, "In a sharp decline, investors with high leverage can become subject to margin calls or forced liquidations due to short-term price fluctuations. In a volatile market, it is crucial to refrain from excessive leveraged investments and to regularly check collateral maintenance ratios to manage risks effectively." 2026-07-30 16:24:00 -
Seoul says China's stance on denuclearization unchanged SEOUL, July 30 (AJP) - South Korea's foreign ministry said Thursday that China's position on the denuclearization of the Korean Peninsula has not changed, setting the tone for a planned visit to Seoul by Chinese Foreign Minister Wang Yi, the first by a top Chinese diplomat since President Lee Jae Myung took office. Wang is expected to travel to Seoul on August 19 and 20 for talks with Foreign Minister Cho Hyun, according to diplomatic sources cited in Korean media reports, with a courtesy call on Lee also under arrangement. The trip carries an uncomfortable question. Wang visited Pyongyang in April, and Chinese President Xi Jinping followed in June, and on both occasions Beijing avoided any public mention of denuclearization, deepening concern in Seoul that China now values rebuilding ties with North Korea over resolving its nuclear program. Asked at a regular briefing whether the government sees a need for Beijing to publicly reaffirm the principle during the visit, and whether a joint document reflecting it is under discussion, foreign ministry spokesperson Park Il pointed to commitments already on the record. "Peace and stability on the Korean Peninsula are a common interest of the two countries," Park said, an understanding he said was confirmed through the leaders' reciprocal state visits, most recently Lee's state visit to Beijing in January. China has expressed its intent to play a constructive role toward that end, he added, and has said it would maintain the continuity and stability of its policy toward the peninsula. "The denuclearization of the Korean Peninsula is the consistent goal of the international community, confirmed through multiple Security Council resolutions, and our government will uphold that goal without wavering," Park said. "China, too, has seen no change in its position on the Korean Peninsula issue, and the US-China summit in May also confirmed that North Korea's denuclearization is a common goal." He did not address whether a joint statement or outcome document is being coordinated, saying only that the government would keep strengthening communication, including through the visit now in consultations, to draw out a constructive role from China. The summit reference has a paper trail. After US President Donald Trump met Xi in Beijing on May 14 and 15, the White House released a fact sheet stating the two presidents "confirmed their shared goal to denuclearize North Korea." Beijing never echoed the language. Asked days later to confirm the American account, Chinese foreign ministry spokesperson Guo Jiakun said only that China's position and policy on the Korean Peninsula maintain continuity. Seoul has leaned on both statements since. The ministry delivered essentially the same answer in June, days after Xi returned from Pyongyang, making Thursday's response the latest recitation of a fixed line rather than a reaction to the visit reports. That is the ambiguity Wang would carry into Seoul. The South Korean government is expected to press for a more active Chinese role on the North Korean nuclear issue, while Beijing is likely to use the visit to present its position on Taiwan and its trade friction with Washington, and to restore balance to a peninsula diplomacy that has tilted heavily toward Pyongyang this year. Whether Wang states the word denuclearization in public while in Seoul will be watched as the clearest signal of where China actually stands. The last time the question was put to the test, the answer was silence. Xi spent two days in Pyongyang in June, his first visit to North Korea since 2019, and left without once mentioning denuclearization. 2026-07-30 16:22:14 -
Mokpo City and NH Nonghyup Promote Hometown Love Donation Program Mokpo City, in collaboration with NH Nonghyup Mokpo Sinan Branch, conducted a promotional campaign on July 30 aimed at encouraging participation in the Hometown Love Donation Program among commuters.The campaign took place at the Gwangju District Prosecutor's Office in Mokpo, where officials from both Mokpo City and NH Nonghyup informed employees and visitors about the purpose and benefits of the program, while also promoting the consumption of local agricultural products.During the event, representatives provided information on how to participate in the Hometown Love Donation Program, including tax deduction benefits and the gift system for donors.Mokpo City also introduced projects utilizing the Hometown Love Fund and highlighted local seafood specialties, such as abalone and shrimp, which have recently been added as new gifts.NH Nonghyup Mokpo Sinan Branch supported the initiative by hosting a 'Sharing Our Rice and Fresh Onion' event, showcasing locally produced agricultural products and fostering a consumption-friendly atmosphere.The city plans to expand its on-site promotional efforts to public institutions, businesses, and related organizations to increase participation in the Hometown Love Donation Program and contribute to the revitalization of the local economy.Kim Hyung-soon, head of the Autonomous Administration Division, expressed hope that the campaign would raise awareness of the Hometown Love Donation Program and enhance the consumption of local agricultural and marine products. He added that the city would continue its promotional activities in collaboration with various organizations to invigorate the program and the local economy.The Hometown Love Donation Program allows individuals to donate up to 20 million won annually to local governments outside their registered residence, offering tax deductions and gifts of local specialties worth up to 30% of the donation.* This article has been translated by AI. 2026-07-30 16:20:10 -
KOSPI Declines, But Won-Dollar Exchange Rate Drops to 1430s Despite a sharp decline in the KOSPI, the won-dollar exchange rate continues to trend downward. Typically, a weak domestic stock market leads to a rise in the exchange rate; however, recent analysis indicates that a decrease in dollar demand following the end of foreign investor rebalancing, along with expectations of corporate dollar sales, has contributed to the strengthening of the won.On July 30, the weekly closing price of the won-dollar exchange rate in the Seoul foreign exchange market ended at 1,437.4 won, down 9.3 won from the previous trading day. This marks the lowest level since February 26 (1,425.8 won), just before the outbreak of conflict in the Middle East, effectively reversing most of the risk premium that had been reflected since the war began.Earlier, during the KOSPI's rise in May and June, foreign capital inflows and rebalancing led to a surge in dollar buying, pushing the exchange rate up to as high as 1,560 won. However, as the domestic stock market faced corrections in July, the demand for additional dollar purchases by foreign investors significantly decreased, leading to a rapid decline in the exchange rate.The recent divergence between the exchange rate and the stock market is attributed to improvements in dollar supply and demand. Typically, when stock prices fall, the exchange rate rises, but the end of the semi-annual rebalancing has reduced dollar demand, allowing the won-dollar exchange rate to drop to the 1,430s despite dollar strength and increased stock market volatility.Additionally, the decline in international oil prices due to easing tensions in the Middle East has supported the strength of the won. The listing of SK Hynix's American Depositary Receipts (ADRs) has also contributed to the demand for currency exchange, while the Bank of Korea's interest rate hike has narrowed the interest rate gap between South Korea and the U.S., further influencing the drop in the exchange rate.Market analysts believe that the recent decline in the exchange rate is more influenced by domestic factors than by a weakening U.S. dollar. The second quarter economic growth rate, which exceeded market expectations, expectations of a narrowed interest rate gap between South Korea and the U.S., demand for currency exchange related to SK Hynix ADRs, and corporate conversions to won have all contributed to improved dollar supply and demand.Kim Yu-mi, a researcher at Kiwoom Securities, stated, "Expectations for further increases in the won-dollar exchange rate among market participants have weakened compared to before," adding, "In the short term, a key variable will be whether this sentiment can be sustained." She further noted that whether the approximately $85.6 billion in dollar deposits held by companies will lead to conversions to won depends on perceptions of the exchange rate direction and domestic investment demand.However, it remains uncertain how long the downward trend in the exchange rate will continue. Geopolitical risks in the Middle East have not been fully resolved, and uncertainty surrounding the Federal Reserve's monetary policy path has increased following the recent Federal Open Market Committee (FOMC) meeting.Park Sang-hyun, a researcher at iM Securities, commented, "Given the recent sharp decline in the won-dollar exchange rate, the potential for further decreases may be limited, but there is a possibility that the trend of a weaker dollar will continue post-FOMC," adding, "The lower limit for the exchange rate could be around 1,400 won." He also noted that as the demand for currency exchange related to SK Hynix ADRs is mostly absorbed, the divergence between the exchange rate and stock prices may gradually diminish.* This article has been translated by AI. 2026-07-30 16:20:00 -
National Growth Fund Supports LG Display's OLED Investment with $1.3 Billion The National Growth Fund will provide a total of 1.35 trillion won ($1.3 billion) to support LG Display's next-generation organic light-emitting diode (OLED) facility investment and Techwing's expansion of high-bandwidth memory (HBM) testing equipment production facilities.The Financial Services Commission announced on July 30 that it approved funding for two facility investment projects aimed at strengthening the competitiveness of the display and semiconductor supply chains.First, the fund will support LG Display with a low-interest loan of 1.3 trillion won for its OLED technology advancement facility investment, which is estimated to cost around 3 trillion won. LG Display plans to finance 1.5 trillion won of the total investment through its own resources, while the remaining 1.5 trillion won will come from the Advanced Strategic Industry Fund and loans from private banks.This investment aims to establish a production base for next-generation OLED products, such as low-power and high-brightness panels, amid intensifying global competition in the OLED market, particularly from Chinese companies. The goal is to maintain the technological competitiveness of premium products and strengthen the domestic supply chain for key materials and components.Techwing, a semiconductor equipment company based in Cheonan, Chungcheongnam-do, will receive a low-interest loan of 50 billion won. Techwing plans to invest a total of 91.6 billion won to expand its production facility for next-generation HBM testing equipment.Techwing supplies semiconductor test handlers to companies like Samsung Electronics and SK Hynix and also produces equipment for testing individual HBM chips. The Financial Services Commission expects that this support will enhance the domestic testing equipment supply capacity in response to the expansion of HBM production.Including these two projects, the National Growth Fund has approved or completed fundraising for a total of 24 projects worth 16.3 trillion won from January to July this year, with local investments accounting for 42.4% of the total.* This article has been translated by AI. 2026-07-30 16:20:00 -
Yongin City Discusses Welfare Policy Cooperation with Da Nang's Quang Phu District Gyeonggi Yongin City (Mayor Lee Sang-il) welcomed a delegation from Quang Phu District in Da Nang, Vietnam, for a meeting on July 30 in a video conference room. Attendees included First Deputy Mayor Ryu Kwang-yeol, city officials, Quang Phu Secretary Bui Ngoc An, and International Lotus Village Association President Jo Dang-ho. Participants watched a promotional video about Yongin City and shared local conditions before discussing ways to enhance exchanges. The Quang Phu delegation specifically requested cooperation in welfare policy exchanges to develop Quang Phu as a center for elderly welfare in central Vietnam. Secretary Bui expressed gratitude for the warm welcome and thanked Yongin City for supporting the "Yongin Public Digital Library in Da Nang's Quang Phu District," which residents are utilizing well. Deputy Mayor Ryu stated, "I hope this visit will lead to expanded cooperation in areas such as digital library operations, youth exchanges, education, and culture, and serve as a meaningful opportunity to further develop the friendly relations between our two cities." In July 2024, Yongin City supported a budget of 200 million won for the construction of the "Yongin Public Digital Library in Da Nang's Quang Phu District" after receiving final approval from the International Development Cooperation Committee under the Prime Minister's Office. The library, built on a site within the International Lotus Village Comprehensive Welfare Town, spans approximately 1,686 square meters and includes digital learning spaces, reading rooms, and a promotional hall for Yongin City. Meanwhile, the Lotus Village Social Welfare Corporation is located in Baegam-myeon, Yongin City, and operates the Cheoin-gu Elderly Welfare Center under a city contract. Jo Dang-ho, president of the International Lotus Village Association, has been working to establish a Korean-style Buddhist welfare town in Vietnam.* This article has been translated by AI. 2026-07-30 16:20:00 -
People Power Party Condemns Democratic Party's Push to Abolish Supplementary Investigation Rights 국민의힘은 30일 더불어민주당이 국회 본회의에 '보완수사권 폐지'를 골자로 한 형사소송법 개정안을 강행 처리하려고 하자 "이재명 대통령은 반드시 거부권(재의요구권)을 행사해야 한다"고 주장했다. 정점식 원내대표는 이날 국회 로텐더홀에서 규탄대회를 열어 "모든 피해는 국민의 몫이고 모든 책임은 이재명 정권의 몫"이라며 이같이 말했다. 정 원내대표는 '장윤기 사건'을 언급하며 "경찰 지휘부의 맨 위부터 맨 아래까지 피해자의 편은 단 한 명도 없었다. 보완수사권이 없었다면 더러운 진실은 땅속에 묻혔을 것이고, 장윤기는 가벼운 처벌만 받았을 것"이라고 했다. 이어 "보완수사권은 검찰의 권력이 아니라 피해자를 지켜주는 수단이자 진실을 밝히기 위한 도구"라며 "경찰의 초동 수사가 완벽하지 않을 수 있기 때문에 다시 한 번 걸러내는 견제의 장치"라고 강조했다. 아울러 "보완수사권을 검찰의 권력이라고 주장하는 민주당 의원들이야말로 국민이 위임한 입법권을 무한한 권력처럼 무차별하게 휘두르고 있다"며 "주식 시장은 연이틀 서킷브레이커, 이재명 정부는 국민 대상 브레이커, 민주당은 국가 시스템을 해체하는 대한민국 브레이커"라고 비판했다. 그는 "야당이 문제를 제기하면 들을 줄도 알아야 한다"며 "야당이 비판하면 청개구리처럼 더 졸속으로 강행 처리하고 나중에 소 잃고 외양간 고치는 바보 국정운영을 하고 있다"고 꼬집었다. 그러면서 "보완수사권 폐지하면 얼마 안 가서 소 잃고 외양간 고치기, 땜질 처방을 내놓을 것"이라며 "오로지 받아야 할 재판을 없애버릴 궁리만 하는 대통령과 검찰을 때리고 보복할 궁리만 하는 민주당 강경파들이 국정을 파탄으로 몰아가고 있다"고 했다. 법제사법위원회 소속인 윤상현 의원도 "민주당의 대한민국 사법 체계를 무너뜨리는 입법 폭주가 끝을 모르고 이어지고 있다"며 "검사가 보완 수사로 진실을 밝히면 될 것을 피해자 스스로 억울함을 입증하라는 것이 어떻게 피해자 보호를 하는 것이냐"고 지적했다. 이어 "보완수사권 폐기는 국민의 생명과 재산을 담보로 한 도박"이라며 "이 대통령이 거부권 행사를 거부한다면 국민 모두의 대통령이 아니라 개딸들의 대통령임을 국민 앞에 스스로 고백하는 것"이라고 목소리 높였다. * This article has been translated by AI. 2026-07-30 16:16:00 -
Why Kazakhstan puts more women to work than Korea or US SEOUL, July 30 (AJP) - Kazakhstan's female workforce grew again in the first quarter of 2026, extending the reach of one of the world's higher rates of working women, a distinction the Central Asian country owes less to recent policy than to a century of history. The number of employed women reached 4.527 million in the first three months of the year, up 42,600 or 0.9 percent from a year earlier, according to Kazakhstan's National Statistics Bureau under the Agency for Strategic Planning and Reforms. Of them, 79.6 percent worked as employees while 20.4 percent, or 925,100 women, were self-employed. The scale of female participation sets Kazakhstan apart from far wealthier economies. World Bank data put the country's female labor force participation rate at about 66 percent in 2024, well above the world average of 51 percent, and ahead of both South Korea at 56 percent and the United States, where the Bureau of Labor Statistics measured the rate at 57.5 percent in early 2025. The explanation begins in the Soviet era. For seven decades, state policy pushed women into employment, education, and professional training across Soviet Central Asia, backed by universal childcare and a social expectation that women worked. When Kazakhstan became independent in 1991, the norm survived the state that built it. Researchers point to that inheritance as the main reason post-Soviet countries cluster far above nations of comparable income on female employment. Education has sustained the pattern. Women make up the majority of university students in Kazakhstan, and the state has kept investing in female education since independence, including scholarships that sent thousands of women to universities abroad. Economic necessity did its own quiet work. The turbulence of the post-Soviet transition made single-income households unaffordable for most families, and two earners have remained the default ever since. Government policy came later. Kazakhstan adopted its Concept of Family and Gender Policy in 2016 and, after joining two UN Generation Equality coalitions in 2021, abolished a Soviet-era list of professions legally closed to women, opening jobs in mining, transport, and heavy industry. The first-quarter data suggests women are moving into those newly opened sectors. The fastest annual growth in female employment came in real estate, up 25.7 percent, followed by administrative and support services at 21.9 percent, transportation and warehousing at 16.2 percent, and industry at 7.6 percent. Some 388,100 women now work in industry. Most working women, however, remain concentrated where they long have been. Education is the largest employer of women with 902,200 workers, or 19.9 percent of the total, followed by wholesale and retail trade with 877,600 and healthcare and social work with 426,300. Together, the three sectors account for nearly half of all employed women in the country. That concentration feeds the number that complicates Kazakhstan's success story. Women earned an average of 344,496 tenge, about $686, in the first quarter of 2025, against 468,914 tenge, about $934, for men, a gap of roughly 26.5 percent, according to the statistics bureau. The gap had narrowed from 32.2 percent in 2013 to 21.7 percent in 2021, then widened again to 25.7 percent by 2023. By international standards, the disparity is wide. The OECD, which compares median earnings of full-time workers, put its members' average gap at 11.3 percent, with the United States around 16 percent and Japan at 21.3 percent. South Korea recorded the widest gap in the group at 29.3 percent in 2023, a position it has held for decades, leaving Kazakhstan narrower than Korea but roughly double the OECD norm. The Asian Development Bank concluded in its country gender assessment that while Kazakhstan's participation rate compares well internationally, the gaps between men and women in both participation and wages are not narrowing. Women also carry more unpaid domestic work than men on top of their jobs, the bank found. The government has answered with targets. Its updated Concept of Family and Gender Policy through 2030 commits to raising the share of women at decision-making levels in state bodies, the judiciary, and the corporate sector to 30 percent by 2030, alongside measures on the wage gap and women's asset ownership. A national action plan for 2024 to 2027 folds gender equality into budgeting and labor law, and the UN Development Programme launched a campaign in Kazakhstan in 2023 pressing companies toward pay transparency. 2026-07-30 16:14:52


