AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Gunpo Mayor Han Dae-hee Aims to Transform Daye Library into a Creative Hub for Citizens
    Gunpo Mayor Han Dae-hee Aims to Transform Daye Library into a Creative Hub for Citizens Han Dae-hee, the mayor of Gunpo City, is accelerating efforts to enhance citizen-centered cultural infrastructure with the reopening of the newly renovated Daye Library. Mayor Han expressed his intention to make Daye Library a creative hub where all citizens can gather and communicate. On July 27, he held a reopening ceremony at Daye Library, attended by city and provincial council members, local leaders, and citizens. The event included a progress report, speeches, and a ribbon-cutting ceremony, marking the library's new beginning. After approximately three months of renovations, Daye Library has been upgraded to better serve the public, transforming from a simple reading space into a multifaceted cultural venue that integrates reading, culture, and communication. Mayor Han emphasized, "Libraries are no longer just quiet places for reading; they are cultural spaces where people of all ages can learn and interact together." Following the reopening ceremony, a variety of programs took place, including a performance by the classical guitar duo 'Arc,' free magazine giveaways, and a raffle, all of which received positive responses from attendees. Citizens who attended shared their thoughts, stating, "The library has become much brighter and more pleasant, making it a space where I want to spend more time," and "I look forward to reading with my children and enjoying cultural events here. I hope it develops into a community cultural space where residents can naturally meet and communicate." Meanwhile, Mayor Han stated, "We will continue to expand spaces where citizens can enjoy books and culture in their daily lives and come together." He added, "I will do my best to ensure that Daye Library becomes a representative cultural platform for Gunpo."* This article has been translated by AI. 2026-07-29 22:04:10
  • Government to Tighten Regulations on Leverage Products Amid Stock Market Decline
    Government to Tighten Regulations on Leverage Products Amid Stock Market Decline Government to impose stricter regulations on single-stock leverage productsThe government is set to strengthen regulations on single-stock leverage products, which have been identified as a cause of the recent stock market decline. Measures will include setting individual investment limits to prevent excessive concentration of funds in specific products, as well as imposing transaction costs and mandating simulated trading to curb excessive trading activity.Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol convened an emergency market situation assessment meeting on July 29 at the Government Seoul Building, attended by Bank of Korea Governor Lee Hyun-sung, Financial Services Commission Chairman Lee Ok-won, Financial Supervisory Service Chairman Lee Chan-jin, and Chief Economic Growth Officer Ha Jun-kyung, to discuss recent trends in domestic and international financial markets and response strategies.Participants in the meeting assessed that the recent stock market decline was significantly influenced by intensified competition in memory semiconductors from China and concerns over funding for major U.S. tech companies. They noted that the adjustment following previous rapid increases, along with weakened investor sentiment and supply-demand instability, contributed to the market's downturn.However, they clarified that this decline does not stem from a deterioration in the fundamental strength of the economy. They emphasized that strong export performance in key sectors like semiconductors continues, the earnings outlook for KOSPI-listed companies has been revised upward, and the current account surplus is expanding, warning against excessive panic.The government will maintain a high level of vigilance and activate a 24-hour monitoring system in collaboration with relevant agencies. In particular, they will implement additional measures immediately, as they believe the concentration of funds in single-stock leverage products is exacerbating market volatility.To manage the investment scale in single-stock leverage products, the government plans to set individual investment limits, proposing a cap of 20% of an individual's total investment amount for these products. They are also considering applying the excessive bid burden currently in place in the futures market to single-stock leverage products to curb excessive trading behavior.Korean firms push for joint development of next-generation aircraftDomestic companies are moving beyond supplying aircraft parts to participate in the joint development of next-generation civil aircraft. Hyundai Motor Group plans to expand its collaboration into eco-friendly energy sectors, including hydrogen and small modular reactors (SMRs), based on local production capabilities.During a Korea-Brazil business roundtable held in São Paulo on July 28, seven memorandums of understanding (MOUs) were signed in areas such as aerospace, critical minerals, and AI healthcare.The most notable area of focus is next-generation civil aircraft. Brazilian company Embraer is considering expanding its business from existing 70-120 seat regional aircraft to 150-200 seat mid-sized aircraft. Korea Aerospace Industries (KAI) and Korean Air are discussing the possibility of joint development with Embraer through separate negotiations.KAI has also signed an MOU with Embraer for cooperation in the civil aircraft and aerospace sectors. KAI currently supplies wing structures for civil aircraft and electric vertical takeoff and landing (eVTOL) structures, while Korean Air provides aircraft fuselages and components. Both companies plan to expand their roles beyond parts supply to participate from the design and development stages.Ruling party advances bill to abolish supplementary investigative powersOn July 29, the National Assembly's Legislation and Judiciary Committee and the Operations Committee approved a bill to abolish supplementary investigative powers as part of amendments to the Criminal Procedure Act, along with a bill to shorten the fast-track period. As a result, these bills are set to be presented and processed at the plenary session scheduled for July 30, prompting the ruling People Power Party to plan to block them through unlimited debate (filibuster).The Legislation and Judiciary Committee and the Operations Committee held full meetings on the morning of the same day to begin reviewing the bills and voted on the amendments.Initially, the Criminal Procedure Act amendment was to be submitted to the plenary session through the full meeting of the Legislation and Judiciary Committee. However, members from the People Power Party protested against the Democratic Party's push and referred the matter to the agenda coordination committee.After passing through the agenda coordination committee, the Criminal Procedure Act amendment is now set to be presented to the full meeting of the Legislation and Judiciary Committee, led by the Democratic Party, ahead of a vote in the plenary session.'Black Wednesday' reality as semiconductor stocks plummet despite record earningsFollowing 'Black Tuesday,' 'Black Wednesday' has become a reality. Despite SK Hynix announcing record earnings, it was insufficient to revive investor sentiment. A sharp decline in U.S. semiconductor stocks and disappointing earnings expectations led to a widespread sell-off in domestic semiconductor stocks, causing both the KOSPI and KOSDAQ indices to drop more than 10% during trading.According to the Korea Exchange on July 29, the KOSPI closed at 5,663.24, down 360.42 points (5.98%) from the previous trading day. The index started at 6,089.11, up 65.45 points (1.09%), but quickly reversed its gains and fell sharply. The KOSDAQ index also opened at 713.71, up 7.86 points (1.11%), but soon turned downward, closing at 662.68.As the decline continued, the KOSPI market triggered its 15th and 9th first-stage circuit breaker of the year. The KOSDAQ market also activated its 14th and 4th first-stage circuit breaker of the year. This marked the first time both markets experienced simultaneous circuit breakers for two consecutive days.Earlier that day, SK Hynix reported a consolidated revenue of 79.3187 trillion won and an operating profit of 60.5426 trillion won for the second quarter of this year. Despite achieving record earnings, the results slightly fell short of market expectations, failing to revive frozen investor sentiment. Consequently, SK Hynix's stock price plummeted by 9.61%, while Samsung Electronics also fell by 5.23%, leading to a broad sell-off in major semiconductor stocks.Bill Gates plans visit to South Korea next month for AI and nuclear collaboration talksBill Gates, co-founder of Microsoft, is expected to visit South Korea as early as next month. If the visit occurs, discussions on collaboration in future industries, including artificial intelligence (AI) and next-generation nuclear power, are likely to be key agenda items.According to the information and communication technology (ICT) industry on July 29, Gates' representatives have recently communicated with Prime Minister Han Seung-soo's office to arrange a meeting and coordinate the schedule and agenda. Specific details regarding the visit and meetings have yet to be confirmed.During his previous visit to South Korea last year, Gates met with government officials and business leaders to discuss potential collaborations in AI and small modular reactors (SMRs). He engaged in discussions with prominent figures such as SK Group Chairman Chey Tae-won, HD Hyundai Chairman Chung Ki-sun, and Samsung Electronics Chairman Lee Jae-yong regarding cooperation in nuclear power, biotechnology, and AI.If this visit materializes, it is expected to revisit discussions on advanced industry collaborations initiated last year.* This article has been translated by AI. 2026-07-29 22:00:00
  • Government to Tighten Regulations on Leverage Products Amid Stock Market Decline
    Government to Tighten Regulations on Leverage Products Amid Stock Market Decline Government to Strengthen Regulations on Leverage Products Amid Market DeclineThe South Korean government is set to tighten regulations on single-stock leverage products, which have been identified as a contributing factor to the recent stock market decline. Measures will include setting individual investment limits to prevent excessive concentration of funds in specific products, as well as imposing transaction costs and mandating simulated trading to curb excessive trading activity.On July 29, Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol convened an emergency market situation assessment meeting with key officials, including Bank of Korea Governor Lee Hyun-sung, Financial Services Commission Chairman Lee Ok-won, and Financial Supervisory Service Chairman Lee Chan-jin, to discuss recent trends in domestic and international financial markets and potential responses.Participants in the meeting assessed that the recent stock market downturn was significantly influenced by intensified competition in memory semiconductors from China and concerns over funding for major U.S. tech companies. They noted that the decline was exacerbated by adjustments following previous surges, weakened investor sentiment, and supply-demand instability.However, they clarified that this downturn does not stem from a deterioration in the fundamental strength of the South Korean economy. Exports of key items, such as semiconductors, remain strong, and the outlook for operating profits of KOSPI-listed companies has been revised upward, alongside an expanding current account surplus. They emphasized the need to guard against excessive panic in the market.The government plans to maintain a high level of vigilance and activate a 24-hour monitoring system in collaboration with relevant agencies. They will implement additional measures immediately, particularly in response to the increased volatility in the stock market caused by the concentration of funds in single-stock leverage products.To manage the scale of investments in single-stock leverage products, the government is considering setting individual investment limits, proposing a cap of 20% of an individual's total investment amount for these products. Additionally, they are reviewing the introduction of a burden fee, currently applied in the futures market, to single-stock leverage products to deter excessive trading behavior.Korea Pursues Joint Development of Next-Generation Civil AircraftSouth Korean companies are moving beyond supplying aircraft parts to participate in the joint development of next-generation civil aircraft. Hyundai Motor Group plans to expand its collaboration into eco-friendly energy sectors, including hydrogen and small modular reactors (SMRs), based on local production capabilities.On July 28, during a Korea-Brazil business roundtable held in São Paulo, seven memoranda of understanding (MOUs) were signed in areas such as aerospace, critical minerals, and AI healthcare.The most notable area of focus is the next-generation civil aircraft. Brazilian company Embraer is considering expanding its business from small to medium-sized aircraft, specifically from 70-120 seat models to 150-200 seat models. Korea Aerospace Industries (KAI) and Korean Air are discussing the possibility of joint development with Embraer through separate negotiations.KAI has also signed an MOU with Embraer for collaboration in the civil aircraft and aerospace sectors. KAI currently supplies wing structures for civil aircraft and electric vertical takeoff and landing (eVTOL) structures, while Korean Air provides fuselage and components. Both companies plan to expand their roles beyond parts supply to include participation from the design and development stages.Ruling Party Pushes for Abolition of Supplementary Investigation RightsOn July 29, a bill to abolish supplementary investigation rights and a proposal to shorten the fast-track period for legislative processes passed through the National Assembly's Legislation and Judiciary Committee and the Operations Committee. As these bills are set to be presented and processed in the plenary session on July 30, the ruling People Power Party plans to use unlimited debate (filibuster) to block them.The Legislation and Judiciary Committee and the Operations Committee held full meetings on the morning of the same day to begin reviewing the bills, ultimately approving the amendments to the criminal procedure law and the National Assembly Act.Initially, the amendment to the criminal procedure law was scheduled to be submitted to the plenary session through the full meeting of the Legislation and Judiciary Committee. However, members of the People Power Party protested against the Democratic Party's push, leading to the referral of the bill to the agenda coordination committee.After passing through the agenda coordination committee, the amendment to the criminal procedure law is now set to be presented to the plenary session under the Democratic Party's leadership for a vote.'Black Wednesday' Reality: SK Hynix Reports Record Earnings Amid Market CollapseFollowing 'Black Tuesday,' 'Black Wednesday' has become a reality. Despite SK Hynix reporting record earnings, it was insufficient to revive investor sentiment. A sharp decline in U.S. semiconductor stocks and disappointing earnings expectations led to a widespread sell-off in domestic semiconductor stocks, causing both the KOSPI and KOSDAQ indices to drop by over 10% during trading.On July 29, the Korea Exchange reported that the KOSPI closed at 5,663.24, down 360.42 points (5.98%) from the previous trading day. The index opened at 6,089.11, up 65.45 points (1.09%), but quickly reversed its gains and fell sharply. The KOSDAQ index also opened at 713.71, up 7.86 points (1.11%), but soon turned downward, closing at 662.68.As the decline continued, the KOSPI market triggered its 15th and this year's 9th first-stage circuit breaker. The KOSDAQ market also activated its 14th and this year's 4th first-stage circuit breaker. This marked the first time both markets experienced simultaneous circuit breaker activations for two consecutive days.Earlier that day, SK Hynix reported a record second-quarter consolidated revenue of 79.3187 trillion won and an operating profit of 60.5426 trillion won. Despite these record figures, the results fell slightly short of market expectations, failing to revive frozen investor sentiment. Consequently, SK Hynix's stock price plummeted by 9.61%, while Samsung Electronics also saw a 5.23% decline, leading to a broader sell-off in major semiconductor stocks.Bill Gates Plans Visit to South Korea Next Month for AI and Nuclear Cooperation TalksBill Gates, co-founder of Microsoft, is reportedly planning to visit South Korea as early as next month. If the visit occurs, discussions on cooperation in artificial intelligence (AI) and next-generation nuclear power are expected to be key agenda items.According to the information and communication technology (ICT) industry on July 29, Gates' representatives have recently communicated with Prime Minister Han Sung-soo to arrange a meeting and coordinate the schedule and agenda. Specific details regarding the visit and meetings have yet to be finalized.During his previous visit to South Korea last year, Gates met with government officials and business leaders to discuss potential collaborations in AI and small modular reactors (SMRs). He engaged in discussions with prominent figures, including SK Group Chairman Chey Tae-won, HD Hyundai Chairman Chung Ki-sun, and Samsung Electronics Chairman Lee Jae-yong, exploring opportunities for cooperation in nuclear power, biotechnology, and AI.If this visit materializes, it is anticipated that discussions on advanced industrial cooperation will resume from where they left off last year.* This article has been translated by AI. 2026-07-29 21:56:00
  • Government to Tighten Regulations on Single-Stock Leverage Amid Market Decline
    Government to Tighten Regulations on Single-Stock Leverage Amid Market Decline The government is set to strengthen regulations on single-stock leverage products, which have been identified as a cause of the recent stock market decline. Measures will include setting individual investment limits to prevent excessive concentration of funds in specific products and imposing trading costs to curb excessive trading.Deputy Prime Minister and Minister of Finance Koo Yun-cheol convened an emergency market situation monitoring meeting on July 29 at the Government Seoul Complex, attended by Bank of Korea Governor Lee Hyun-sung, Financial Services Commission Chairman Lee Ok-won, Financial Supervisory Service Chairman Lee Chan-jin, and Chief Economic Growth Secretary Ha Jun-kyung, to discuss recent trends in domestic and international financial markets and response strategies.Participants in the meeting assessed that the recent stock market downturn was significantly influenced by intensified competition in memory semiconductors from China and concerns over funding for major U.S. tech companies. They noted that the adjustment following previous surges, along with weakened investor sentiment and supply-demand instability, contributed to the market's decline.However, they clarified that this downturn does not stem from a deterioration in the fundamental strength of the economy. They emphasized that strong export performance in key sectors like semiconductors continues, and the outlook for operating profits of KOSPI-listed companies has been revised upward, alongside an expanding current account surplus, indicating that excessive panic should be avoided.The government will maintain a high level of vigilance and activate a 24-hour monitoring system in collaboration with relevant agencies. They believe that the concentration of funds in single-stock leverage products is exacerbating market volatility and will implement additional measures immediately.To manage the scale of investments in single-stock leverage products, the government plans to set individual investment limits, proposing a cap of 20% of an individual's total investment amount for these products. They are also considering applying the excessive trading fee currently in place in the futures market to single-stock leverage products to curb excessive trading behavior.Investor protection measures will also be strengthened. The existing pre-education program will include simulated trading, and in rapidly changing market conditions, the financial authorities will be legally empowered to adjust leverage ratios, referencing systems like Hong Kong's variable leverage system to stabilize the market.The previously announced supplementary measures for single-stock leverage products will proceed as planned. Starting July 31, a basic deposit requirement of 30 million won will apply to investments in domestic and foreign single-stock leverage products, affecting both new investors and existing investors making additional purchases. The duration of investor education will be extended from two hours to three hours, and the responsibility for managing discrepancies will be reinforced for securities firms and asset management companies. The trading unit will be expanded from one to a provisional 20 units starting in November.Additionally, the government will swiftly advance structural reform tasks aimed at enhancing corporate value and governance of listed companies, as well as improving the KOSDAQ market, to establish a fundamental market stability framework.Recently, the domestic stock market has experienced significant declines, particularly in the semiconductor sector, due to intensified competition from China and concerns over funding for major U.S. tech companies. The KOSPI fell by 10.84% on July 28 and dropped another 5.98% on July 29. As of July 28, the KOSPI's decline was 28.9% compared to the end of June, surpassing declines in major stock markets in the U.S., Europe, Japan, China, and Taiwan.* This article has been translated by AI. 2026-07-29 21:48:00
  • Ruling Party Pushes Legislation Amid Oppositions Inaction
    Ruling Party Pushes Legislation Amid Opposition's Inaction The Democratic Party is rapidly moving to finalize the legislative process for amendments to the criminal procedure law, including the abolition of prosecutors' supplementary investigation rights, within three days. Meanwhile, the People Power Party finds itself powerless to respond. Since the start of the 22nd National Assembly, the People Power Party has lost its negotiating power due to a lack of seats and has resorted to filibustering various contentious bills, but with little success.According to political sources on July 29, the amendments to the criminal procedure law and the National Assembly Act, which the Democratic Party plans to introduce on July 30, are expected to pass the plenary session without difficulty after being forcibly processed following the conclusion of unlimited debate. The criminal procedure law amendment focuses on abolishing the supplementary investigation rights of the prosecution, while the National Assembly Act amendment aims to shorten the fast-track review period from a maximum of 330 days to 90 days.The People Power Party has attempted to resist by holding press conferences and protests at the subcommittee or full committee stages, as well as demanding the formation of an agenda coordination committee, but these efforts have proven insufficient to block the bills' passage through the committee. As a last resort, the People Power Party plans to request unlimited debate on the two bills to obstruct their progress to the plenary session, but the Democratic Party is expected to counter this with a motion to conclude the debate.In fact, during the nearly two years of the 22nd National Assembly, there have been 28 instances where the conclusion of unlimited debate was forced through voting. While it is difficult for the Democratic Party to pass a conclusion motion on its own, it can secure a three-fifths majority by collaborating with other progressive parties, such as the Justice Party. The Democratic Party has used this method to push through various contentious bills, including special investigation laws, three judicial laws (the establishment of a crime distortion law, the introduction of judicial review, and the increase of Supreme Court justices), and laws regarding the prosecution and the high-profile investigation agency.In this context, the Democratic Party is also preparing to further amend the National Assembly Act to strengthen the requirements for unlimited debate. The proposed amendment would lower the threshold for introducing a conclusion motion from one-third of the total members to one-fifth and allow the National Assembly Speaker to suspend discussions if the number of present members falls below the quorum (one-fifth of the total members).Experts have expressed concern that the ruling party's dominance is limiting the ability of minority parties to voice their opinions within the system, effectively silencing the opposition. They warn that the absence of a minimum right to dissent in a National Assembly that should be based on consensus could lead to a decline in democracy.Political commentator Choi Yo-han criticized the situation in a conversation with Aju Economy, stating, "As society diversifies, we need to hear more voices from a wider range of people. The current National Assembly has reached a point where the majority party is perceived as engaging in a form of 'parliamentary dictatorship.'" He added, "Without institutional mechanisms to amplify diverse voices, only the voices of the first and second parties are loud. Both parties currently lack political power and need to exercise it effectively."* This article has been translated by AI. 2026-07-29 21:36:00
  • Ruling Party Pushes for Abolition of Supplementary Investigation Rights Amid Opposition Filibuster
    Ruling Party Pushes for Abolition of Supplementary Investigation Rights Amid Opposition Filibuster On July 29, the National Assembly's Legislative Judiciary Committee and the Operations Committee approved amendments to the Criminal Procedure Law aimed at abolishing supplementary investigation rights and shortening the fast-track process. These bills are set to be presented for a vote in the plenary session scheduled for July 30, prompting the People Power Party to announce plans for an unlimited debate (filibuster) to block the measures.Both committees convened in the morning to review and vote on the proposed amendments.Initially, the Criminal Procedure Law amendment was slated to be submitted to the plenary session through the Legislative Judiciary Committee. However, members from the People Power Party protested against the Democratic Party's push, leading to the bill being referred to the agenda coordination committee.After passing through the coordination committee, the Criminal Procedure Law amendment was brought back to the Legislative Judiciary Committee, where it is now set for a vote in the plenary session under the Democratic Party's leadership.The amendment to the National Assembly Law, which aims to reduce the fast-track process from a maximum of 330 days to 90 days, also passed the Operations Committee on the same day.This change will significantly shorten the timeline for committee reviews from 180 days to 60 days, and for the Legislative Judiciary Committee and plenary session from 90 days and 60 days to 30 days, respectively.However, the People Power Party members expressed their opposition during the Operations Committee meeting, arguing that the Democratic Party's actions were unilateral and aimed at facilitating the cancellation of President Lee Jae-myung's indictment. They chose to abstain from the vote.Kim Seung-soo, the opposition's floor leader in the Operations Committee, criticized the National Assembly Law amendment, stating, "This legislation is for the Democratic Party's convention and a show for the 'Daughter of the Party.' It is a buildup for bad laws like the cancellation of Lee Jae-myung's indictment and constitutional amendments for re-election."As the prospect of the Criminal Procedure and National Assembly Law amendments being presented in the plenary session becomes clearer, the People Power Party is expected to launch a major offensive through a filibuster against what they deem unilateral operations by the Democratic Party.During the Legislative Judiciary Committee meeting, member Park Hyung-soo expressed dissatisfaction with the proceedings, stating, "The Democratic Party is operating unilaterally while we are merely filling seats as props," addressing the committee chair, Seo Young-kyo.Later that afternoon, members of the People Power Party visited the Legislative Judiciary Committee meeting room to demand an end to the push for abolishing supplementary investigation rights and announced their plans for a significant filibuster.Park Chung-kwon, the party's chief spokesperson, stated, "The Democratic Party is trying to set up a mechanism to eliminate the President's trial," adding, "The People Power Party will mobilize all means, including a filibuster, to ensure that this unprecedented bad law is stopped."* This article has been translated by AI. 2026-07-29 21:36:00
  • North Korea and China Emphasize Military Cooperation at Founding Day Event
    North Korea and China Emphasize Military Cooperation at Founding Day Event North Korea and China highlighted their military cooperation and traditional friendship during a reception in Pyongyang marking the 99th anniversary of the founding of the Chinese military. The event, attended by senior officials from both countries, reaffirmed the close ties between the two nations amid recent high-level exchanges.According to North Korea's Rodong Sinmun and the Chinese embassy in Pyongyang, the reception took place on July 29 and was attended by approximately 150 guests, including Wang Yajun, the Chinese ambassador to North Korea, and officials from both the North Korean government and military, as well as the diplomatic corps in Pyongyang.Notable attendees from North Korea included Defense Minister No Kwang-chol, Deputy Director of the International Department of the Workers' Party Moon Sung-hyuk, Deputy Foreign Minister Kim Myong-soo, and Deputy Director of the General Political Bureau of the Korean People's Army Park Yong-il. The presence of the Defense Minister, rather than a deputy, at this year's event was seen as a reflection of the strengthened North Korea-China relationship.During the event, messages were exchanged emphasizing the expansion of military cooperation and the continuation of their traditional friendship.Wang Yajun stated, "In the new era and under the current circumstances, the armed forces of both countries should strengthen communication and closely cooperate, inheriting and developing the traditional friendship forged in blood under the strategic guidance of our top leaders. We must jointly promote regional peace, stability, development, and prosperity."Chinese Defense Attaché Wang Yisheng added, "We will faithfully implement the achievements of China-North Korea diplomatic relations and, in accordance with the wishes of our top leaders, expand military exchanges to continue our traditional friendship. We will play a greater role in the development of China-North Korea relations and in safeguarding regional peace and stability."According to the Chinese embassy in Pyongyang, Defense Minister No Kwang-chol remarked, "The armed forces of China and North Korea have built a strong bond of combat friendship through long-term struggles and are currently jointly safeguarding regional peace, security, and international justice. We hope to contribute to further developing the traditional friendly cooperative relationship between our two countries in accordance with the important agreements of our top leaders."China commemorates the founding day of its People's Liberation Army on August 1, marking the Nanchang Uprising of 1927. North Korea has maintained its friendly relations with China by issuing congratulatory statements or attending events at the Chinese embassy in Pyongyang each year on this occasion. This year's reception in Pyongyang marks the second consecutive year it has been held.On the same day, Wang Yajun visited the Martyrs' Cemetery of the Chinese People's Volunteer Army in the Hyongjesan District of Pyongyang. North Korean officials, including Yun Sung-il, Director of the North Korean Foreign Ministry's Department of Asian Affairs, and Kim Sun-il, Deputy Director of the Urban Management Department of the Pyongyang City People's Committee, accompanied him. Wang expressed gratitude for North Korea's management of the cemetery and noted, "73 years ago, the people of China and North Korea fought side by side, making tremendous sacrifices and solidifying the combat friendship forged in the process of safeguarding our common interests."* This article has been translated by AI. 2026-07-29 21:16:00
  • Bill Gates Plans Visit to South Korea Next Month to Discuss AI and Next-Gen Nuclear Cooperation
    Bill Gates Plans Visit to South Korea Next Month to Discuss AI and Next-Gen Nuclear Cooperation Bill Gates, co-founder of Microsoft, is expected to visit South Korea as early as next month. If the visit occurs, discussions on artificial intelligence (AI) and next-generation nuclear power are likely to be key topics.According to the information and communication technology (ICT) industry on July 29, Gates, who is also the chairman of the Gates Foundation, has expressed his intention to meet with Prime Minister Han Seung-soo and is currently coordinating the schedule and agenda. The specific dates and details of the visit have not yet been finalized.During his visit to South Korea last year, Gates met with government officials and business leaders to discuss collaboration in the fields of AI and small modular reactors (SMRs). He engaged in discussions with prominent figures such as Chey Tae-won, chairman of SK Group; Chung Ki-sun, chairman of HD Hyundai; and Lee Jae-yong, chairman of Samsung Electronics, exploring potential partnerships in nuclear energy, biotechnology, and AI.If this visit materializes, it is anticipated that advanced industry collaboration discussions will resume, building on last year's conversations.Gates is currently the founder and chairman of TerraPower, a company focused on developing next-generation nuclear power technologies. TerraPower is working on the 'Natrium' reactor, which combines molten salt-based energy storage with SMR technology, recognized for its enhanced safety and output control compared to traditional nuclear reactors.* This article has been translated by AI. 2026-07-29 20:40:00
  • Houthi Rebels Consider Imposing Toll on Red Sea Shipping
    Houthi Rebels Consider Imposing Toll on Red Sea Shipping The Iran-aligned Houthi rebels in Yemen are reportedly considering imposing tolls on commercial vessels passing through the southern Red Sea. This move follows their recent declaration of a maritime blockade against Saudi Arabia and is seen as an effort to expand their influence over international shipping routes.According to Reuters on July 29, the Houthis are reviewing plans to charge tolls for most ships transiting the Bab-el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden. The specific implementation date has not yet been determined.Multiple sources in the Middle East indicated that Houthi officials discussed this plan with Iranian authorities during a visit to Tehran earlier this month for the funeral of former Iranian Supreme Leader Ayatollah Ali Khamenei. Iran is reportedly involved in establishing an organization to collect tolls in Yemen.Both the Houthis and Iran are said to be working on a system to collect tolls in the Bab-el-Mandeb Strait and the Strait of Hormuz, aiming to enhance their influence over international waterways and increase pressure on the United States.However, there are discussions about exempting Chinese vessels from these tolls. China has been negotiating separately with the Houthis to ensure the safe passage of its oil tankers through the Red Sea, and the Houthis are believed to have agreed to this exemption. China is the largest importer of Saudi oil.Afrar Al Juba, the designated foreign minister of Yemen's internationally recognized government, stated, "The Houthis will ultimately seek to secure control over the Red Sea, and if that happens, they will impose fees on vessels." The Houthi media office did not respond to requests for comment on the reports.If the Houthis effectively control the Bab-el-Mandeb Strait, there are concerns that it could simultaneously pressure another key oil transport route, the Strait of Hormuz, impacting global energy supply chains. This could lead to disruptions in Saudi oil exports and a potential rise in international oil prices.Since the Houthis began attacking commercial vessels in the Red Sea in November 2023, citing the Gaza conflict, shipping traffic has significantly decreased. Although attacks ceased following a ceasefire in the Gaza Strip last year, many vessels continue to reroute around the Cape of Good Hope instead of using the Red Sea and the Suez Canal.On July 13, the Houthis accused Saudi Arabia of being behind airstrikes on Sana'a airport, which they control, and declared a maritime blockade against Saudi Arabia following the end of the ceasefire.* This article has been translated by AI. 2026-07-29 20:24:00
  • Rep. Lee So-hee Calls for System Reform to Disclose Medical Malpractice Records
    Rep. Lee So-hee Calls for System Reform to Disclose Medical Malpractice Records Rep. Lee So-hee of the People Power Party criticized the lack of transparency regarding medical malpractice records, stating on July 29, "It is a gap in information that is out of touch with common sense that patients cannot verify even when a court has confirmed serious criminal responsibility."During a forum titled "The Public Should Know About Medical Malpractice Records" held at the National Assembly, she noted, "Even if a doctor is sentenced to prison for negligent homicide during medical procedures, that alone does not lead to the revocation of their license," adding that patients have no public means to check such records.Lee, who became paralyzed from the waist down due to a medical accident at the age of 15, argued for reforms that would allow patients to verify the medical malpractice history of healthcare providers before entrusting their care. She emphasized, "Medical treatment is a contract where patients entrust their bodies to a single provider," pointing out that while a healthcare provider's career can be easily verified, it is difficult to confirm serious criminal records related to medical malpractice.She stressed that disclosing medical malpractice histories is a minimal measure to reduce information asymmetry, enabling patients to choose healthcare providers on a more equal footing and enter into fair medical contracts.During the discussion, participants suggested limiting the disclosure to "objectively verified serious records" and called for clear legal definitions regarding the duration and scope of disclosures, as well as procedures for prior notification, clarification, appeals, and information correction. Shin Hyun-doo, head of the Medical Institution Policy Division at the Ministry of Health and Welfare, expressed support for disclosing cases of sexual crimes and intentional medical offenses during treatment.Lee plans to pursue amendments to relevant laws based on the opinions presented at the forum. The proposed amendments will include provisions for providing patients with objective serious records while protecting the rights of healthcare providers.Meanwhile, Lee expressed disappointment that the Korean Medical Association, the Korean Hospital Association, and the Korean Intern Association did not attend despite her multiple requests to hear their concerns and opinions regarding the related system.In this context, she expressed regret to the three organizations while stating, "I will keep the door open for dialogue," urging them to participate in public discussions to identify issues, determine the extent of disclosures, and propose measures to protect healthcare providers' rights."* This article has been translated by AI. 2026-07-29 20:24:00