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Special Prosecutors Decline to Charge Former Army Commander Over Martial Law Allegations The second special prosecutor team, led by Kwon Chang-young, has decided not to prosecute Joo Seong-woon, the former commander of the Army's Ground Operations Command, over allegations that he condoned his subordinate's involvement in martial law during the emergency declaration on December 3.On July 29, the special prosecutors announced their decision not to file charges against Joo for dereliction of duty, although they did not disclose specific reasons for the decision.Joo served as the commander of the First Army Corps during the emergency martial law period. He faced allegations that he either knew about or condoned the involvement of his subordinate, Gu Sam-hwi, the former commander of the Second Armored Brigade, and failed to order his return to the unit.Gu was reportedly assigned by Noh Sang-won, the former director of the Military Intelligence Command, to investigate allegations of election fraud by the Central Election Commission. It is believed he took leave before the martial law was declared and was waiting at a unit under the intelligence command in Pangyo, Seongnam.The Ministry of National Defense based its decision to exclude Joo from duty in February on evidence that he had communicated with Gu during the martial law period. They later determined that Joo's failure to dissuade Gu from participating in the martial law constituted a breach of his duty of sincerity, resulting in a two-month suspension imposed earlier this month.Joo left the military on July 14, in accordance with regulations that require the retirement of generals who do not receive assignments for a certain period.* This article has been translated by AI. 2026-07-29 14:48:00 -
David Golf Launches 'Woody Iron' at Golfzon Market David Golf has introduced its flagship product, the 'Advancer 7th Generation Woody Iron,' at Golfzon Market locations nationwide, expanding its offline distribution network. According to the company, the product has surpassed cumulative sales of 250,000 units and has ranked first in the utility category on Naver Shopping.The Advancer Woody Iron has been a steady seller for David Golf since its initial launch in 2005. The latest 7th generation model features the company's patented 'Advance Trigger™' technology, which provides a high moment of inertia (MOI) and a wide sweet spot.The company explains that this technology facilitates a more stable trajectory and induces optimal backspin, making it easier to target specific areas while enhancing distance, accuracy, and control.The product has received positive feedback from tour players. Professional golfer Lee Ji-hoon, who has two KPGA Tour victories, stated, "The Woody Iron delivers satisfying results in distance, trajectory, spin, and control, helping me execute shots confidently even on challenging courses."Kim Hyun-tae, an executive at David Golf, remarked, "With our entry into Golfzon Market, more golfers can experience the performance of the Woody Iron, which has been recognized by tour players. We encourage golfers seeking reliable second shots to test the product's performance through a trial."This year, David Golf is also participating as the official title sponsor of the KPGA, focusing on increasing brand awareness. During the tournament period, the company operates a practice range for players and provides launch monitors to assist in improving their performance. The Advancer series, including the Woody Iron, drivers, woods, and utilities, has reportedly received positive responses among players.* This article has been translated by AI. 2026-07-29 14:45:10
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Hanwha Solutions Reports 200% Increase in Q2 Operating Profit Hanwha Solutions announced on July 29 that it achieved consolidated sales of 4.5826 trillion won and an operating profit of 306.5 billion won for the second quarter of 2026. Sales increased by 47.01% and operating profit rose by 200.33% compared to the same period last year.By business segment, the renewable energy sector reported sales of 2.4823 trillion won and an operating profit of 166.4 billion won. The increase in sales and operating profit was attributed to rising module prices, the sale of development assets, and a stable revenue base in the residential energy business.The chemical segment generated sales of 1.465 trillion won and an operating profit of 87.1 billion won. Despite geopolitical risks from the Middle East, the company maintained a stable production and sales system by timely procurement of raw materials like ethylene, continuing its profit streak.The advanced materials segment recorded sales of 300.3 billion won and an operating profit of 28.8 billion won, benefiting from sustained strong sales of solar materials in North America.Lee Jae-bin, Chief Financial Officer of Hanwha Solutions, stated, "We expect an increase in sales from the residential energy business in the third quarter, and with the full operation of the solar value chain at the Cartersville plant, the renewable energy sector is projected to maintain a solid performance."Additionally, Hanwha Solutions announced on July 15 that it signed a contract with Hanwha Systems to develop solar cells for satellites, marking the beginning of its space solar technology development.* This article has been translated by AI. 2026-07-29 14:42:10
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Big Tech Faces Market Anxiety Ahead of Q2 Earnings Amid Cash Flow Concerns As the return on investment for artificial intelligence (AI) investments by major tech companies reaches historic lows, market anxiety is rising ahead of the second-quarter earnings reports from Microsoft (MS) and Meta. Following Alphabet's earlier results, which indicated an expected increase in capital expenditures (CAPEX), attention is focused on potential adjustments in corporate valuations. According to the IT industry on July 29, Microsoft and Meta are set to release their second-quarter (April to June) earnings after the market closes today, Eastern Time. In Korea, the results will be available early on July 30. On July 22, Alphabet reported an 82% surge in cloud revenue but raised its annual CAPEX forecast to as high as $205 billion, causing its stock to fluctuate. The scale of capital investment in Microsoft and Meta's earnings reports is expected to be a key variable influencing market reactions. The market consensus has already reached elevated expectations. Microsoft has provided a revenue guidance of $86.7 billion to $87.8 billion for the quarter, while the market consensus stands higher at around $89.4 billion. The growth rate of Azure (39-40% guidance) is also a focal point for investors. Meta's revenue consensus is between $60.1 billion and $60.2 billion, with earnings per share (EPS) expected to be between $7.13 and $7.23. Given that the first quarter saw a 33% revenue growth, a slowdown is anticipated for this quarter. The market's sensitivity stems from a historic low in return on invested capital (ROIC). ROIC measures how much profit a company generates relative to its invested capital and is a critical metric for assessing the performance of big tech's AI investments. The ratio of capital expenditures to revenue for five major hyperscalers—Amazon, Microsoft, Alphabet, Meta, and Oracle—soared to 24.7% last year. KB Securities predicts that this group's combined ROIC will hit a low of 17.6% in 2027 before rebounding to 20.8% in 2028, indicating that the burden of capital investment has yet to be fully reflected in profitability metrics. However, concerns are growing that the rapid increase in CAPEX may be causing free cash flow (FCF) to deteriorate first. Amazon's FCF over the past 12 months plummeted 95% from $25.9 billion to $1.2 billion. Microsoft also saw its FCF drop 22% from $20.3 billion in the previous fiscal quarter (January to March) to $15.8 billion, influenced by a nearly doubling of capital expenditures from $16.7 billion to $30.9 billion during the same period. Microsoft has indicated that its capital expenditures for this quarter will exceed $40 billion, suggesting a further decline in FCF for the second quarter. Alphabet went a step further, reporting negative FCF. The company's operating cash flow for the second quarter was $39.069 billion, but capital expenditures reached $44.924 billion, resulting in a negative FCF of $5.855 billion. This marks a rare instance of Alphabet posting negative FCF on a quarterly basis. To address this, Alphabet initiated a $49.6 billion capital increase and issued $20.3 billion in unsecured bonds during the second quarter. Despite a 'defensive logic' stating that its cloud backlog increased by over $50 billion to $514 billion compared to the previous quarter, the market reacted more sensitively to the news of increased CAPEX. There is a noticeable divergence in how companies are perceived. Investment banks are highlighting that the connection between CAPEX and revenue is becoming a major topic for stock price decoupling in the second half of the year. In the first quarter, Alphabet's stock rose based on a 63% growth in cloud revenue and a backlog of $460 billion, while Meta's stock dropped over 6% immediately after announcing an increase in its upper CAPEX limit to $145 billion, despite reporting a 33% revenue growth and a 41% operating margin. Meta's structure, which does not sell cloud computing resources externally, is perceived by the market as having relatively low visibility for converting infrastructure investments into revenue. How well Meta addresses these concerns in its second-quarter results will be crucial. Warnings regarding the financial health of big tech companies have also emerged. Moody's, in a report released this month, analyzed six companies, including Microsoft, Amazon, Alphabet, Meta, Oracle, and CoreWeave, indicating that the expansion of AI infrastructure investments is worsening free cash flow and threatening credit ratings. However, while large tech firms with strong cash generation capabilities are unlikely to see their investment grades shaken in the short term, Oracle and CoreWeave are expected to face relatively greater burdens. Oracle maintains an investment-grade rating of 'Baa2' but has a 'negative' outlook, while CoreWeave is already classified as high-yield with a 'Ba3' rating. Following the report, concerns about the burden of AI investments have led to a sharp decline in semiconductor stocks, contributing to downward pressure on the domestic KOSPI market in conjunction with adjustments in the Philadelphia Semiconductor Index. In the domestic market, stocks linked to the AI semiconductor supply chain, such as Samsung Electronics and SK Hynix, are clearly moving in tandem with big tech CAPEX indicators. The overall earnings season for big tech, which includes Microsoft and Meta, and the upcoming earnings report from Amazon next week, is expected to influence volatility in the domestic stock market.* This article has been translated by AI. 2026-07-29 14:42:10
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Persis Launches Office Subscription Service to Transform Workspace Solutions Persis has launched an 'Office Subscription Service' that encompasses everything from office furniture rental to maintenance, collection, and reuse. The company aims to enhance cost efficiency for corporate clients while providing a one-stop integrated service.On July 29, Persis officially announced its entry into the office furniture rental market during a press conference held at the Persis Business Hub in Yeouido, Seoul. The new office subscription service offers over 500 types of office furniture for rental and layout, as well as comprehensive support for repairs, cleaning, and collection.The service includes: 1) 'Office Furniture Rental' for a specified period, 2) 'Office Care' that provides regular inspections, chair cleaning, and maintenance, and 3) 'Collection and Circular Management' that recycles furniture based on contract termination or changes in office environment. It also supports additional furniture, changes, and reconfigurations according to organizational and spatial needs.Clients can manage contracts, assets, and space information through Persis's online platform, 'Office Service Hub,' where they can also request necessary services and track the history of requests and processing.Park Jeong-hee, CEO of Persis, stated, "The Persis Office Subscription Service is not just a rental product; it is a new solution that resolves the complexities of office space management, allowing businesses to focus on their core operations in a changing era." He emphasized, "This will completely change the paradigm of the office furniture market."The service has been designed with various contract periods and payment methods to lower the financial burden on companies. Subscription contract periods can be selected for 3, 4, or 5 years, with payment options including monthly, annual, or upfront payments. Discounts of up to 36.5% are available based on the subscription amount and contract duration, making this service more cost-effective than traditional office furniture rental companies, according to Persis.Looking ahead, Persis plans to expand the customer base and service scope of the subscription service, while enhancing the circular system for inspecting, cleaning, reusing, and redistributing collected products.Park added, "As the leading office furniture company in Korea, we will create new standards for offices and strive to be a flexible partner that evolves alongside our corporate clients' journeys and growth processes." 2026-07-29 14:39:10
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Jinan County's Official Facebook Wins Top Award for Local Government Communication Jinan County's official Facebook page has won the Grand Prize in the local government category at the prestigious 'Social Media Awards 2026'.According to the county on July 29, the Social Media Awards evaluates entries based on five categories: service, visuals, branding, marketing, and content, using 15 detailed criteria through four stages of judging: preliminary, main, final, and ultimate.The official Facebook page, which has fostered authentic communication with visitors through emotional content showcasing the county's beautiful nature and daily life, received high marks for effectively delivering local news and lifestyle information in a relatable manner.This is not the first accolade for the county's official Facebook; it also won an award at the Social Media Awards 2025 held last year.With this latest recognition, the county has achieved a remarkable streak of awards over six consecutive years, including the Public Information Innovation Award in 2021, the Grand Prize in the Public YouTube category in 2022, and the Grand Prize in the County and District YouTube category in both 2023 and 2024, as well as the Grand Prize in the County Facebook category in 2025.Jinan County Mayor Jeon Chun-seong stated, "This award is a result of our efforts to communicate more closely with residents through online channels. We will continue to enhance practical and warm digital communication to promote the value and appeal of Jinan County nationwide."The official Facebook page currently boasts 36,000 followers.Intensive Crackdown on Illegal Activities in Rivers and ValleysIn response to the summer vacation season, Jinan County announced on July 29 that it will conduct an intensive crackdown on illegal activities in rivers and valleys until the end of August. This initiative aims to provide a pleasant and safe environment for tourists and residents while ensuring fair access to the rivers.To enhance the effectiveness of the crackdown, the county plans to strengthen on-site management by establishing a dedicated task force that will patrol key valleys and rivers regularly.During the enforcement process, any illegal activities detected will be immediately addressed on-site. For illegal commercial activities, the county plans to impose strict fines, issue restoration orders, and, if necessary, pursue legal action in accordance with relevant regulations.* This article has been translated by AI. 2026-07-29 14:39:10
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Iran Rejects Oman’s Proposal for Joint Management of Hormuz Strait Iran has rejected a proposal to jointly manage shipping traffic in the Hormuz Strait with Oman. Instead, Iran has suggested that it will control all incoming routes and some outgoing routes in the strait.According to Iran International on July 28, Kazem Gharibabadi, Iran's Deputy Foreign Minister, stated in a televised interview that discussions are ongoing with Oman regarding the resumption of shipping traffic in the Hormuz Strait.Oman had proposed that each country manage one entry and one exit route for vessels. However, Iran declined the offer, citing insufficient measures to address its security concerns.In response, Iran proposed that all incoming routes be designated as Iranian territorial waters, with some outgoing routes also passing through Iranian waters. This plan aims to allow Iran to monitor all vessels transiting the strait.Gharibabadi warned that if Oman does not accept Iran's proposal, it will maintain the closure of the Hormuz Strait. He also indicated that Iran would no longer recognize existing routes approved by the International Maritime Organization (IMO).Iran asserted that most current routes are located in Omani waters, making it difficult to adequately monitor passing vessels. Additionally, Iran stated it would not permit third countries to conduct mine-clearing operations in the Hormuz Strait, even if requested by Oman.Reports suggest that Oman has proposed the establishment of a joint management body involving Gulf countries, where vessels would voluntarily contribute to costs necessary for safe navigation and rescue operations.* This article has been translated by AI. 2026-07-29 14:39:00
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HD Construction Machinery Shares Recover After Earnings Report HD Construction Machinery shares initially plummeted over 12% during trading but later reduced their losses to about 1% following the release of its second-quarter earnings report.As of 2:11 PM on July 29, HD Construction Machinery was trading at 120,900 won, down 1,900 won (1.55%) from the previous trading day. The stock had fallen to as low as 107,100 won earlier in the session, marking a decline of more than 12%, but began to recover after the earnings announcement around 1:20 PM.In its earnings report, HD Construction Machinery announced consolidated sales of 2.4342 trillion won and an operating profit of 248.9 billion won for the second quarter of this year. Compared to the same period last year, sales increased by 18.2%, and operating profit surged by 92.0%. The operating profit margin reached 10.2%, marking the first time the company achieved a double-digit operating profit margin on a quarterly basis since the establishment of the consolidated entity.Sales in the construction machinery segment totaled 2.0182 trillion won, a 22% increase year-on-year. Strong sales of next-generation excavators contributed to an 18% rise in North America and a 25% increase in Europe, with consistent growth observed in key regions including Latin America, the Middle East and Africa, India, and China. The operating profit margin improved from 4.6% last year to 9.9% this year.The engine segment also saw a 5% increase in sales, reaching 386.1 billion won, driven by expanded external sales of industrial engines and increased supply of defense engines for K2 tanks, achieving an operating profit margin of 15.3%.Looking ahead, HD Construction Machinery plans to maintain a profitability-focused sales strategy in the second half of the year while strengthening its response to the defense and power generation markets based on its new engine plant in Gunsan, thereby expanding its growth base.* This article has been translated by AI. 2026-07-29 14:35:00
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Legislative Committee Moves to Discuss Criminal Procedure Law Amendments The National Assembly's Legislative and Judiciary Committee activated a task force on July 29 at the request of the People Power Party to begin serious discussions on amendments to the Criminal Procedure Law, which include the complete abolition of the prosecution's supplementary investigation rights. The committee is expected to reconvene after the task force concludes its work to prepare for a vote on the amendments in the plenary session scheduled for July 30.The task force will consist of three members from the ruling party, including Kim Seung-won, along with Park Ji-won and Kim Yong-min, and members from the opposition and non-negotiating parties, including Park Hyung-soo, Kim Tae-kyu, and Park Eun-jung from the Justice Innovation Party. Park Ji-won will serve as the chair of the task force.After electing the chair, the task force transitioned to a closed session to begin discussions on the proposed amendments to the Criminal Procedure Law.Earlier in the day, the Legislative Committee had initiated the voting process for the Criminal Procedure Law amendments during a full committee meeting. However, members from the People Power Party requested the formation of the task force to facilitate further discussions.During the meeting, Park Hyung-soo expressed concerns that victims of criminal cases oppose the abolition of supplementary investigation rights, criticizing the Democratic Party for attempting to push through the amendments. He stated, "I hope we can have a proper discussion even now. I request the formation of a task force." In response, Legislative Committee Chair Seo Young-kyo announced, "According to the National Assembly Act, I will refer the matter to the task force" and requested cooperation from the People Power Party in the review process.* This article has been translated by AI. 2026-07-29 14:35:00
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Hwang Jung-min's Agency Responds to Privacy Violations and Stalking Claims Hwang Jung-min's agency has issued a statement regarding the circulation of personal information about the actor online.On July 29, Hwang Jung-min's agency, Sam Company, stated, "The author of the malicious posts related to Hwang Jung-min is a suspect in a stalking crime who has continuously harassed him."According to the agency, Hwang Jung-min has filed a criminal complaint against the individual. Sam Company explained, "The court has imposed temporary measures, including a restraining order against the suspect on three occasions, and has issued a summary order imposing a fine of 3 million won for the stalking charges."The agency added, "Sam Company plans to take further legal action regarding the maliciously edited posts and apologizes for any distress caused by this situation."Recently, various posts claiming to reveal Hwang Jung-min's private life have appeared on online communities and social media. The author of these posts has claimed to have been in a romantic relationship with Hwang Jung-min, presenting evidence such as screenshots of messenger conversations and call logs.In response, the agency has refuted the claims, asserting that the author is a suspect in a stalking crime and has announced its intention to pursue legal action.* This article has been translated by AI. 2026-07-29 14:35:00