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Fed's Unexpected Rate Hold Weakens Dollar, Won Drops to 1440s The won-dollar exchange rate has dropped to the 1440s. In the Seoul foreign exchange market on July 30, the exchange rate for the won against the U.S. dollar was 1,440.2 won as of 9:12 a.m. The rate was trading at 1,446.5 won, down 0.2 won from the previous day's closing price as of 6 a.m. This decline is interpreted as a result of the U.S. Federal Reserve's decision to hold its policy interest rate steady, alleviating market concerns about a surprise rate hike. The dollar index, which measures the value of the dollar against six major currencies, fell by 0.45% to 100.96. International oil prices surged as military confrontations resumed between the U.S. and Iran. September futures for Brent crude rose by 7.91% to $90.74 per barrel, while September futures for West Texas Intermediate (WTI) increased by 6.56% to $84.46 per barrel. The exchange rate is expected to fluctuate in the 1440s today. Min Kyung-won, an economist at Woori Bank, stated, "Today’s exchange rate is likely to test support in the 1440s, driven by the dollar's weakness following the Fed's rate hold and reduced bets on a September hike." He added, "While the Fed emphasized its focus on price stability, the market, which had anticipated a surprise hike in July, has halved the probability of a September increase, leading to the dollar's weakness."* This article has been translated by AI. 2026-07-30 09:32:00 -
Lee arrives in Santiago for summit to revamp decades-old FTA with Chile SEOUL, July 30 (AJP) - President Lee Jae Myung arrived in Chile on Wednesday for the second leg of his South American tour, after concluding his state visit to Brazil. Lee is expected to push to upgrade a decades-old free trade agreement with Chile, Seoul's first FTA partner, and expand cooperation on critical minerals supply chains and infrastructure. Upon arrival at Arturo Merino Benítez International Airport in Santiago, Lee was greeted by Chilean officials including Foreign Minister Pérez Makenna and Ambassador to South Korea Matías Francke. South Korea's Ambassador to Chile Kim Hak-jae also welcomed him. Lee will begin his official visit with a dinner meeting with South Korean nationals living in Chile, where he is expected to encourage them and hear their concerns. After laying a wreath at a statue of Chilean independence hero Bernardo O'Higgins the following day, Lee is scheduled to attend a welcoming ceremony at La Moneda Palace, Chile's presidential residence, before holding a summit with Chilean President José Antonio Kast. Upgrading the bilateral FTA is expected to be a key focus of their talks. In 2018, the two countries launched negotiations to improve the pact, South Korea's first such deal which took effect in April 2004, and since then held nine rounds of formal talks through April 2024. South Korea is seeking to expand the pact to reflect changes in the global economy, covering areas such as digital trade, supply chains, energy and minerals, intellectual property, and labor and environmental issues. The two leaders are also expected to discuss cooperation on critical mineral supply chains, combining Chile's copper and lithium resources with South Korea's battery and advanced manufacturing expertise. They will also discuss cooperation on the upcoming U.N. Ocean Conference, a triennial summit on sustainable development that the two countries will co-host in 2028, with South Korea holding the main plenary session and Chile organizing preliminary high-level events in 2027. After the summit with Kast, Lee will attend a business roundtable with industry leaders from both countries to discuss ways to expand trade and investment. 2026-07-30 09:27:14 -
Production and Distribution Companies of 'Hope' Express Concern Over Privacy Controversy Involving Hwang Jung-min After actor Hwang Jung-min denied allegations regarding his private life circulating online, the production and distribution companies of the film 'Hope' expressed their strong regret over the issue.According to Yonhap News on the 29th, Plus M Entertainment and Forged Films announced that the author of malicious posts has caused disruptions by sending emails to partners of 'Hope,' indicating they would take a firm stance against this interference.The companies stated, "This not only harms the overall business of 'Hope' but also maliciously tarnishes the efforts and reputation of those involved in the film. We categorize this as intentional harm against 'Hope' and are actively considering legal action."On the same day, Hwang Jung-min's agency, Sam Company, also released an official statement, saying, "The author of the malicious posts is a suspect in a stalking crime who has continuously harassed Hwang Jung-min. We filed a criminal complaint against the individual last year."They added, "The court has imposed temporary measures, including a restraining order, on the suspect three times and acknowledged the stalking charges, issuing a summary order with a fine of 3 million won."Furthermore, they stated, "We plan to take additional legal action regarding the maliciously edited posts and apologize for any distress caused by this situation."On that day, social media saw a surge in posts raising allegations about Hwang Jung-min's private life. An individual identified as A claimed to have evidence, including text messages and recorded calls, which sparked controversy.* This article has been translated by AI. 2026-07-30 09:24:20
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How to Create a Golden Holiday with Just 4 Days of Leave for Liberation Day As Liberation Day approaches in August, office workers are increasingly interested in planning a 'golden holiday' using their annual leave.This year, Liberation Day falls on a Saturday, with the following Monday, August 17, designated as a substitute holiday, providing a basic three-day weekend. Depending on how annual leave is utilized, it is possible to extend this break to a maximum of ten days.The most efficient strategy involves scheduling annual leave around the Liberation Day holiday. With holidays from Saturday, August 15, to Monday, August 17, taking leave on Friday, August 14, allows for a total of four consecutive days off from the 14th to the 17th. This schedule is ideal for short domestic trips or nearby international travel.For those seeking a longer vacation, an additional four days of leave can be taken from Tuesday, August 18, to Friday, August 21. By combining these days with the existing holidays from the 15th to the 17th, it is possible to enjoy a total of nine days off from Saturday, August 15, to Sunday, August 23.In particular, if all five days of leave are taken from Monday, August 10, to Friday, August 14, it creates a continuous ten-day vacation from Saturday, August 8, to Monday, August 17. This plan effectively combines weekends, Liberation Day, and the substitute holiday with five days of leave.Conversely, for those looking to minimize leave usage, taking just one day off on August 14 allows for a four-day break, reducing vacation costs while still providing an opportunity for a short trip.In employee communities, there are comments such as, 'It's a great time for overseas travel,' and 'This is the last chance of the summer peak season, so reservations should be made early.'The travel industry is also anticipating a surge in demand during the Liberation Day holiday. The overlap with the summer vacation peak season, combined with the potential for extended breaks with minimal leave usage, suggests an increase in both domestic and international travel.However, the ability to take leave may vary depending on individual company policies and work schedules, so prior confirmation is necessary. 2026-07-30 09:24:10
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Semiconductor Boom Drives Consumer Recovery as Q2 Card Approvals Rise 7.6% Global demand for semiconductors has led to an increase in gross domestic income (GDI) in South Korea, resulting in a 7.6% rise in card approval amounts in the second quarter of this year compared to the same period last year.According to the Credit Finance Association on July 30, the total card approval amount for the second quarter reached 336.9 trillion won, with the number of approvals at 7.96 billion, marking increases of 7.6% and 6.0%, respectively, from the previous year.Both personal and corporate card approvals showed growth. The approval amount for personal cards was 273.7 trillion won, up 7.4% year-on-year, while the number of approvals rose 6.3% to 7.55 billion. Corporate card approvals totaled 63.4 trillion won, an 8.7% increase, with the number of approvals rising 1.4% to 410 million.The Credit Finance Association attributed the improved consumer conditions primarily to the global semiconductor demand. In fact, real gross domestic product (GDP) increased by 3.7% compared to the previous year, while real GDI surged by 15.6%.However, rising prices and fuel costs due to instability in the Middle East also impacted the increase in card approval amounts. The consumer price inflation rate rose from 2.6% in April to 3.1% in May and 3.2% in June, marking two consecutive months of increases. The average prices of gasoline and diesel in the second quarter rose by 21.9% and 32.4%, respectively, compared to the same period last year.By sector, health and social welfare services saw the highest growth rate at 7.0%, followed by accommodation and food services at 6.8%, and wholesale and retail trade at 5.9%. In contrast, the transport sector experienced an 8.3% decline year-on-year due to decreased demand for airline tickets and travel products amid the Middle East conflict and rising fuel surcharges.A representative from the Credit Finance Association stated, "The improvement in consumer conditions is attributed to strong corporate performance and government policies aimed at stabilizing prices and livelihoods, which have somewhat alleviated the domestic consumer burden stemming from the instability in the Middle East." They added, "Overall card approval performance continues to show a relatively high growth rate compared to the past."* This article has been translated by AI. 2026-07-30 09:24:00
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Hyundai's Chairman Euisun Chung Emphasizes Local R&D and Powertrain Localization in Brazil "To secure sustainable long-term business competitiveness, we must strengthen local research and development (R&D) capabilities and actively promote powertrain localization," said Euisun Chung, Chairman of Hyundai Motor Group, during his visit to the R&D center for South America at Hyundai's Brazil plant on July 27 (local time). Chung's visit coincided with South Korean President Lee Jae-myung's state visit, as he accompanied a Korean economic delegation to Brazil.Brazil, the world's sixth-largest automotive market, serves as a crucial hub for Hyundai in South America, housing both the Hyundai Brazil production facility and the regional headquarters. Since its completion in 2012, the plant has successfully produced 200,000 strategic vehicles for Brazil each year.Following his visit to the R&D center, Chung inspected the production quality of the newly launched compact hatchback 'i20' and the representative sports utility vehicle (SUV) 'Creta.' He also commended local employees for achieving a cumulative production milestone of 2.5 million vehicles as of March this year.Chung remarked, "The record of surpassing 2.5 million vehicles produced in 13 years is a testament to the dedication and teamwork of the employees at the Brazil plant. Brazil is a very important market for Hyundai's global operations, and I deeply appreciate the achievements made so far."During his tour of the plant, Chung received operational reports and discussed long-term development strategies in production and sales. He noted, "As Brazil faces changes in its industrial environment and new competitive dynamics, there are various challenges and tasks ahead. We will actively support efforts to achieve greater leaps in Brazil at a corporate level."He emphasized the need for all members to prioritize fundamentals and principles while fostering a collaborative culture, aiming to solidify the brand's reputation as one that earns trust and affection from customers.Meanwhile, Hyundai Motor Group plans to invest a total of $1.1 billion by 2032 in eco-friendly sectors, including hydrogen and future technologies, through its Brazilian subsidiary and local partners. 2026-07-30 09:24:00
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Qualcomm Lowers Profit Outlook Amid Rising Memory Costs, Plans Chip Price Increase U.S. semiconductor company Qualcomm has issued a profit outlook that falls short of market expectations due to rising memory prices and semiconductor production costs. To alleviate cost pressures, the company plans to increase chip prices used in smartphones and other devices.On July 29, Qualcomm projected its adjusted earnings per share (EPS) for the fourth quarter of fiscal year 2026 (July to September) to be between $2.05 and $2.25. This adjusted EPS, which excludes one-time costs or gains, is below the market expectation of $2.36.The company anticipates revenue between $9.7 billion and $10.5 billion, which falls within the market estimate of $10.02 billion.The main issue is the rising costs of semiconductor production. Cristiano Amon, Qualcomm's CEO, stated, “Costs are increasing across the entire production process, including chip manufacturing, assembly, testing, and memory.”Qualcomm plans to pass these increased costs onto product prices. Amon explained, “We will raise chip prices starting September 1 and are negotiating with our customers.” Bloomberg reported that Qualcomm has informed some customers of price increases in the double digits.The company’s core smartphone business has also struggled. In the third quarter, revenue from smartphone chips was $5.09 billion, a 20% decrease from the same period last year, although it exceeded the market estimate of $4.96 billion.Additionally, Apple’s increased use of its own developed chips poses a challenge. Qualcomm expects the share of its modem chips in the next iPhone to be significantly lower than the previously estimated 20%, indicating that revenue from Apple may decline faster than anticipated.Overall revenue for the third quarter was $9.95 billion, down 4% from the previous year but above the market estimate of $9.67 billion. The adjusted EPS was $2.21, slightly below the market expectation of $2.23.To reduce its reliance on smartphones, Qualcomm is expanding its automotive and data center businesses. The company has set a goal to generate over $15 billion annually from data centers and $10 billion from automotive by fiscal year 2029.Amon believes that by fiscal year 2027, growth in sectors outside of smartphones, such as automotive and data centers, will significantly offset the decline in revenue related to Apple.The market reacted sensitively to the rising costs and the disappointing fourth-quarter profit outlook, with Qualcomm's stock falling about 4% in after-hours trading following the earnings announcement.* This article has been translated by AI. 2026-07-30 09:20:00
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Foreign Investors Sell Korean Stocks and Buy Hong Kong Shares Global investors are selling South Korean stocks while purchasing shares in Hong Kong. According to Bloomberg data and analyses from global investment banks, foreign investors are quickly unwinding their previous strategy of increasing their holdings in South Korea and reducing their exposure to Hong Kong, as reported by China Fund News on July 30.Since the beginning of the year, foreign investors had short-sold Hong Kong tech stocks and used the cash to buy South Korean memory semiconductor stocks. However, this month, they have begun selling Korean stocks and covering their short positions in Hong Kong.In July, the KOSPI index fell by nearly 30%, with foreign investors net selling over $100 billion in the South Korean stock market. In contrast, the Hong Kong stock market has shown a strong rebound this month, rising by more than 12%, with the Hang Seng Index increasing by 1.96% on July 29.Bloomberg data indicates that the 20-day moving correlation between the KOSPI and the Hong Kong Hang Seng Tech Index has recently turned negative again. This suggests that foreign investors are selling South Korean stocks like Samsung Electronics and SK Hynix while buying Hong Kong tech stocks such as Alibaba and Tencent.CITIC Securities stated, "As U.S. memory companies and South Korean semiconductor stocks, along with Chinese A-share AI-related stocks, have all undergone corrections after a surge in the first half of the year, global funds are seeking new investment opportunities. Hong Kong internet companies, which have relatively low valuations, are likely to benefit the most from this shift."Goldman Sachs also noted in a report this month that "Chinese AI companies account for 16% of global AI-related revenue, but their market capitalization represents only 10%." They added that the proportion of global funds invested in Chinese AI-related stocks is only 1.2% of total portfolios, indicating a significant undervaluation and underexposure.* This article has been translated by AI. 2026-07-30 09:20:00
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Kakao Pay Insurance's Pet Insurance Surpasses 10,000 Contracts in Four Months Kakao Pay Insurance's pet insurance has surpassed 10,000 contracts just four months after its launch. The increase in subscriptions is attributed to a growing demand for coverage against medical expenses related to illnesses and accidents in young pets.On July 30, Kakao Pay Insurance analyzed pet insurance subscription data, revealing that 39% of the enrolled pets are 0 years old, followed by 23% aged 1 year, 20% aged 2 years, and 18% aged 3 years. The insurance is available for pets aged 0 to 3 years.Subscribers predominantly chose the surgical hospitalization plan, followed by the surgical outpatient plan and the same-day surgical plan. The average payout for those who received insurance benefits was 308,408 won, with the highest payout being approximately 3.4 million won for the treatment of a congenital condition known as portosystemic shunt.In terms of pet types, dogs accounted for 80% of total subscriptions, while cats made up 20%. Among dogs, Maltipoos represented the largest group at 28%, followed by Bichon Frises at 16%, mixed breeds under 10 kg, Pomeranians, and Maltese. For cats, Korean Shorthairs comprised 42%, and British Shorthairs accounted for 17%.Kakao Pay Insurance launched its pet insurance in March. The policy covers up to 5 million won for medical expenses on the day of surgery and a maximum of 40 million won annually, including costs for MRI and CT scans as well as hospitalization and outpatient care. Within the annual coverage limit, there is no restriction on the number of claims.For a 30-year-old guardian enrolling a 1-year-old Maltese, the monthly premium for the same-day surgical and surgical hospitalization plans is in the 7,000 won range, while the plan that covers outpatient treatment is in the 30,000 won range.* This article has been translated by AI. 2026-07-30 09:20:00
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Samsung Securities: PUBG and Subnautica 2 Successes Highlight New Game Momentum Samsung Securities evaluated on July 30 that the growth potential of Krafton's Battlegrounds (PUBG) intellectual property (IP) has been confirmed. The firm maintained its target price of 320,000 won and an 'investment' recommendation.Analyst Oh Dong-hwan noted that Krafton recorded strong performance in the second quarter of this year, driven by solid growth in PC PUBG and the success of the new title Subnautica 2. Samsung Securities analyzed that Krafton's second-quarter revenue reached 1.29 trillion won, a 94.9% increase compared to the same period last year, while operating profit rose 67% to 410.9 billion won, exceeding market consensus by 7.5% and 9.6%, respectively.Subnautica 2 has sold approximately 6 million copies combined with its predecessor, generating 234.5 billion won in revenue. The revenue from PC PUBG also increased by 57% year-on-year, attributed to the release of two well-made modes and collaborations with IPs such as Stella Blade and aespa.Oh stated, "PUBG continues to show stable revenue growth through the release of various modes and IP collaborations," adding, "In the second half of the year, we expect continued revenue growth compared to last year with the additional release of two well-made modes, UGC updates, and various IP collaborations including animation, supercars, and idols."The momentum for new titles is also expected to intensify in the second half of the year. Oh mentioned, "Krafton plans to unveil five new titles at Gamescom in Germany this August," explaining that these new titles will be released sequentially from the fourth quarter of this year through 2027, driving further growth.He added, "The shooting game currently in development by PUBG Studio and the Eastern fantasy action RPG 'Tarae' are reported to be of high quality," and noted that anticipation is growing for 'Pale World Mobile,' which is scheduled for release in the first half of next year, based on the success of the PC original.* This article has been translated by AI. 2026-07-30 09:16:00