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  • SK D&D Shares Plunge Nearly 30% Following Major Capital Increase Announcement
    SK D&D Shares Plunge Nearly 30% Following Major Capital Increase Announcement SK D&D's stock has plummeted following the announcement of a significant capital increase that will more than double the number of existing shares.According to the Korea Exchange, as of 9:36 a.m., SK D&D shares were trading at 3,920 won, down 1,620 won (29.24%) from the previous trading day. Early in the session, the stock fell to 3,895 won, marking a new 52-week low.The sharp decline in stock price is attributed to concerns over the dilution of existing shareholders' equity value due to the large issuance of new shares.On the previous day, SK D&D announced in a regulatory filing that its board of directors had approved a rights offering worth 136.7 billion won. The funds raised will be used entirely for debt repayment.The new shares to be issued will total 44,681,000 common shares, representing approximately 240% of the current total of 18,617,382 shares. The planned issuance price is set at 3,060 won per share, reflecting a 20% discount.The record date for the new share allocation is September 2. Existing shareholders will receive rights to purchase about 2.4 new shares for each share they currently hold. Subscription for existing shareholders will take place from October 12 to 13, with the new shares expected to be listed on October 28.Large capital increases typically lead to a decrease in stock prices as the number of shares increases, diluting the per-share value and ownership percentage of existing shareholders. While this capital increase is expected to improve the company's financial structure, the substantial size of the new issuance has raised concerns about increased short-term stock volatility.* This article has been translated by AI. 2026-07-29 10:12:00
  • Kazakhstan pushes factory contracts to unblock utility overhaul
    Kazakhstan pushes factory contracts to unblock utility overhaul SEOUL, July 29 (AJP) - Kazakhstan's government has set a September 1 deadline to break a logjam in the industrial side of its largest infrastructure program, a 13 trillion tenge effort to rebuild the country's aging heating, power and water systems by 2029. Prime Minister Olzhas Bektenov told a cabinet meeting that work to conclude potential offtake contracts for new and expanded production facilities under the national project "Modernization of Energy and Utilities Sectors" must accelerate, Kazakhstan's state-operated Qazinform News Agency reported Tuesday. Off-take contracts commit a buyer to purchase a set volume of output in advance, which is what allows a manufacturer to borrow against future revenue and build the plant in the first place. Without them, the factories the program is meant to create do not get financed. "This issue has been repeatedly discussed but remains unresolved. The Ministry of Industry and Construction must enhance oversight and coordination," Bektenov said. He also instructed the ministry to add architectural, urban planning, and construction catalog codes to the manufacturers' register within two weeks. The pressure is pointed because domestic production is not a side benefit of the program. It is one of its four stated directions. Officials have identified 2,786 product lines worth 2.24 trillion tenge that could be supplied from inside Kazakhstan, and assembled a pool of 220 Kazakh plants and 669 qualified companies to handle design work and equipment supply. President Kassym-Jomart Tokayev has said more than 200 new production facilities should launch within two years. The program itself dates to December 2024, when the government approved the national project for the period through 2029. Tokayev signed the enabling law on July 17, 2025, and it took effect 12 days later. Of the 13 trillion tenge total ($27.3 billion), some 6.8 trillion tenge is directed at repairing and building 86,000 kilometers of utility networks, and roughly 6.2 trillion tenge at power generation. More than 1 trillion tenge was allocated this year alone, according to Tokayev. The targets are specific. Wear on heating networks is to fall from 53 percent to 40 percent, on electricity networks from 62 percent to 45 percent, on water supply from 39 percent to 34 percent, and on wastewater systems from 54 percent to 40 percent. Emergency breakdowns are to drop by 20 percent. The energy ministry expects generation capacity to grow by 7.3 gigawatts, lifting total national output to 32.6 gigawatts, though official statements have counted the underlying generation projects differently, sometimes as 15 new plants plus 14 modernizations, sometimes as 29 projects in total. What forced all of this was one winter. On November 27, 2022, a failure at the thermal power plant in Ekibastuz, a mining city in Pavlodar region, cut heat to much of the town while outside temperatures sat near minus 30 degrees Celsius. Authorities declared a state of emergency. Residents went days without heating, pipes and radiators froze and burst, and the regional governor was dismissed. Weeks earlier, more than 20,000 people in the northeastern town of Ridder had lost heating in a similar accident. A review by the energy ministry that December put numbers to what everyone already suspected. The average thermal power plant in Kazakhstan was 61 years old. About 76 percent of them had been running for more than half a century. Average wear on core equipment stood at 66 percent. Deputy Prime Minister Kanat Bozumbayev, who heads the project office, has said the work will concentrate on regions where network wear exceeds 65 to 70 percent. Financing comes from domestic and international financial institutions, banks, the state budget and shareholder contributions, with the government subsidizing interest rates on loans taken by utility companies to keep the repair campaign from landing directly on household tariffs. Targeted assistance for utility bills stays in place for low-income households. Bektenov also pressed the industry and energy ministries to speed up the unified digital platform Smart Turmys. Industry and Construction Minister Yersayin Nagaspayev told the same meeting the first modules would enter pilot operation in the fourth quarter, running a single subscriber registry, digital accounting of utility payments and monitoring of electricity, gas, heat and water consumption. Kazakhstan aims for full metering of utility infrastructure in cities of republican and regional significance by 2029. 17 pilot renovation projects were funded under the national project by 2025, worth 31.7 billion tenge. 2026-07-29 10:10:14
  • Gimhae City Enhances Housing Safety Network to Address Noise and Support Homeownership
    Gimhae City Enhances Housing Safety Network to Address Noise and Support Homeownership Gimhae City is launching a hands-on administrative approach to enhance housing stability and create a pleasant living environment for its residents.During a regular briefing on July 28, the city's Urban Management Bureau announced plans to support residents affected by airport noise, promote rural housing improvement projects, and assist local housing cooperative initiatives.First, the city will conduct a "2027 Airport Noise Mitigation (Nearby) Area Resident Support Project Demand Survey" to improve the welfare of residents suffering from noise from Gimhae Airport.The survey will target areas designated as noise mitigation zones, including parts of Dongseon and Seoseon villages in Jichon-myeon, as well as Dong-sang-dong, Hoehyeon-dong, Buwon-dong, Naewi-dong, Chilsan-seobu-dong, Hwalcheon-dong, Sam-an-dong, and parts of Bulam-dong.The city plans to conduct the demand survey after receiving the budget allocation for 2027 from the Korea Airports Corporation in August, working through the relevant administrative welfare centers and departments.Rather than merely gathering opinions, the city aims to conduct on-site inspections and feasibility reviews of proposed projects to identify welfare and income enhancement initiatives that are genuinely needed by residents. Following deliberation by the Noise Mitigation Committee and approval from the Busan Regional Aviation Administration, the city will begin implementing the projects in 2027.Customized Administrative Support to Facilitate Rural Housing Improvement ProjectsGimhae City is also strengthening tailored administrative support to ensure the smooth progress of the "Rural Housing Improvement Project."This initiative provides loans of up to 250 million won for new construction and 150 million won for expansion and major renovations at a fixed or variable interest rate of 2% for rural residents without housing or those owning dilapidated homes, as well as for returnees to farming and rural living.However, the process from demolition reporting to building permits and occupancy approvals typically takes over a year, leading to cases where projects are delayed or abandoned.In response, Gimhae City will visit project sites to listen to concerns and proactively identify reasons for delays.The city plans to provide necessary administrative support immediately and quickly select alternative candidates if changes are needed, ensuring that project budgets are executed on time.Three Local Housing Cooperatives Progressing Smoothly with Full Support Until Homeownership is AchievedAdditionally, the city will continue to support local housing cooperatives to help residents achieve stable homeownership.Currently, three housing cooperative projects have received approval for their construction plans: the Andong Housing Cooperative (1,539 units), the Jin-ae Bulam Housing Cooperative (569 units), and the Jinyeong Housing Cooperative (448 apartment units and 103 officetels).Regarding the progress of these projects, the Andong cooperative began construction in May 2025 and is progressing smoothly, aiming for occupancy in April 2029.The Jin-ae Bulam cooperative completed construction in May of this year and is preparing to recruit residents in the second half of the year, with occupancy expected in September 2028. The Jinyeong cooperative received project plan approval in January and plans to discuss construction schedules soon.A city official stated, "Minimizing the burden on cooperative members due to project delays is our top priority. We will spare no effort in providing administrative support from construction to move-in, allowing residents to realize their dream of homeownership without anxiety."* This article has been translated by AI. 2026-07-29 10:09:00
  • Moon Geun-young Marries Actor Jung Pyung in Private Ceremony
    Moon Geun-young Marries Actor Jung Pyung in Private Ceremony 'Nation's little sister' Moon Geun-young has married actor Jung Pyung, sharing the news through a handwritten letter expressing gratitude to her fans.On July 29, News1 reported that Moon Geun-young quietly tied the knot with Jung Pyung, who is seven years her senior, in a ceremony attended only by family members.Shortly after the report, Moon Geun-young confirmed the marriage in her handwritten letter."Hello, this is Moon Geun-young," she wrote. "I picked up my pen to share some news with you. I have gotten married!"She continued, "I met someone with whom I want to walk the path I have always walked alone, share the worries I have faced by myself, and bring joy to each other even in the smallest things. Together, we want to fill our future lives as a couple, not as individuals."Moon Geun-young also requested, "Please offer your congratulations and encouragement rather than concerns and worries. I will live even more diligently than the support you give me," she added.She expressed her gratitude, stating, "As much love as you have given me over the years, I will wholeheartedly support you in return. I promise to come back to you with an even better version of myself."According to News1, Moon Geun-young and Jung Pyung developed their relationship based on mutual understanding and trust built through their work as actors, eventually leading to their marriage after years of supporting each other.Notably, the couple maintained a low profile, keeping their relationship a secret even from close friends, and opted for a family-only meal instead of a traditional wedding ceremony.Jung Pyung, born in 1987, debuted as a musical and theater actor in 2007. He has primarily focused on stage performances and is known to have collaborated with Moon Geun-young in the creative group 'Bachi,' where she served as a director.Following their marriage, Moon Geun-young will continue her acting career. She recently appeared in the play 'Orphans,' participated in tvN's 'You Quiz on the Block,' and completed filming for the new movie 'Yeto,' reuniting with director Yeon Sang-ho after the Netflix series 'Hellbound' Season 2.Born in 1987, Moon Geun-young debuted in the 1999 film 'On the Road' and gained recognition for her role as the young version of Song Hye-kyo in the drama 'Autumn in My Heart.' She earned the nickname 'Nation's little sister' through films like 'A Tale of Two Sisters,' 'My Little Bride,' and 'Dancer's Prejudice,' and solidified her status as a leading actress by winning the Grand Prize at the SBS Acting Awards in 2008 for 'Painter of the Wind.'In addition to 'Cinderella's Sister,' 'Alice in Cheongdam-dong,' 'The Village: Achiara's Secret,' and films like 'The Throne,' 'Glass Garden,' and Netflix's 'Hellbound' Season 2, she has consistently showcased her versatile acting skills.This marriage has drawn attention not only for the couple's choice of a quiet new beginning over a lavish public ceremony but also for Moon Geun-young's heartfelt handwritten letter to her fans, in which she promised to return with an even better self while continuing her acting career. 2026-07-29 10:09:00
  • Kolon Industries Establishes PU Synthetic Leather Production Line in Gimcheon
    Kolon Industries Establishes PU Synthetic Leather Production Line in Gimcheon Kolon Industries is expanding its production line for polyurethane (PU) synthetic leather to enhance its automotive interior material portfolio.The company announced on July 29 that it held a completion ceremony for the PU production line at its Gimcheon plant on July 28. Kolon invested approximately 24 billion won (about $20 million) to establish the synthetic leather production system over 17 months, from February of last year to June of this year.PU synthetic leather mimics the texture and feel of natural leather while offering processability and durability. It is widely used in key automotive interior components such as seats, door trims, and consoles. Its importance has grown due to the recent trend in the automotive industry toward leather alternatives and increasing demand for eco-friendly materials.To enhance the eco-friendliness of its products, Kolon has implemented technologies in the production line to reduce harmful substances like benzene and toluene. The company has also established continuous processing equipment to minimize idle time between processes, thereby improving production efficiency.Kolon aims to respond quickly to customer demands for eco-friendliness and premium quality while securing a technical foundation to target the anticipated increase in demand for PU synthetic leather in overseas markets. The company has previously supplied various automotive interior materials, including fabrics, PVC (polyvinyl chloride), and TPO (thermoplastic olefin), to global clients. The completion of the PU line is expected to further enhance its total solution capabilities for automotive interiors.A Kolon Industries representative stated, "The completion of the K-PU production line is an investment aimed at proactively responding to the rapidly changing automotive interior material market, which is shifting toward eco-friendliness and premium quality. We will continue to provide automotive interior material solutions optimized for customer demand based on differentiated processing technology and material portfolio, while also striving to expand our customer base and strengthen our business competitiveness."Meanwhile, Kolon Industries announced on July 13 that it had signed a memorandum of understanding with IMM PE, the preferred bidder for the sale of its functional materials and imaging materials business.* This article has been translated by AI. 2026-07-29 10:06:00
  • Number of Prepaid Installment Companies Drops to 74 in Q2, FTC Warns Consumers
    Number of Prepaid Installment Companies Drops to 74 in Q2, FTC Warns Consumers In the second quarter of this year, the number of operating prepaid installment companies decreased to 74 as two firms filed for bankruptcy.The Fair Trade Commission (FTC) released a report on July 29 detailing major changes in the information of prepaid installment companies for the second quarter of 2026. The FTC publishes updates on significant changes in the information of these companies each quarter to prevent consumer harm.According to the FTC, Daeno Welfare Business Group and Agape Life, both prepaid installment companies, submitted their bankruptcy applications in May and June, respectively. Although these applications were made in the second quarter, the actual bankruptcy processing will occur in the third quarter.Eight companies among the prepaid installment firms reported changes in key information such as representatives and addresses. Goijang Funeral Research Institute and Coway Life Solutions increased their capital, while Kyowon Life expanded its debt guarantee banks from four to five, altering its consumer compensation insurance provider.Additionally, changes in representatives or contact information were noted for Parents' Love, Kyowon Life, DS Life, and Sonos Station, and the Lotte JTB's Sogong Lounge branch was closed.The FTC emphasized the importance of carefully reviewing the operational status of companies and the announcements from consumer damage compensation insurance providers when entering into contracts for prepaid funeral services or installment travel products. It also warned that businesses frequently changing their names or addresses may pose a risk of insolvency.In particular, the FTC cautioned that companies without consumer damage compensation insurance contracts lack safeguards for consumers to recover their payments in the event of bankruptcy or other incidents, necessitating extra vigilance.If a consumer enters into a prepaid installment contract and the business goes bankrupt after payments have been made, they can still receive compensation (50% of the prepaid amount) through the consumer damage compensation insurance provider. Furthermore, utilizing the 'My Funeral Service as Is' service allows consumers to continue receiving services without additional burdens after receiving compensation. 2026-07-29 10:03:00
  • AI to Handle Administrative Tasks as Employment Centers Revamp Services
    AI to Handle Administrative Tasks as Employment Centers Revamp Services The South Korean government plans to assign repetitive administrative tasks, such as unemployment benefit payments and eligibility checks, to artificial intelligence (AI), allowing employment center counselors to focus on direct interactions with job seekers and businesses.On July 29, the Korea Labor Institute held a discussion on employment service innovation at the Korea Press Center in Seoul, supported by the Ministry of Employment and Labor. The event aimed to share the direction and purpose of national employment service innovation and to refine expert opinions to enhance practical implementation.This initiative comes in response to the rapid advancement of AI and changes in industrial structures, which necessitate preparation for worker transitions and career changes. Experts emphasized that employment services should enhance job mobility and support career development for citizens.The government plans to shift employment services from an administrative focus to a counseling-centered approach that connects people with jobs.During the discussion, Gil Hyun-jong, a senior researcher at the Korea Labor Institute, suggested the need for: tailored employment services based on policies and target groups, restructuring of employment center organizations, establishment of digital employment centers, and revitalization of employment center staff. He noted that as the concept of lifelong employment weakens due to the spread of AI and industrial transitions, the role of national employment services should evolve from unemployment management to lifelong career development support.To start, tasks such as unemployment benefit payments, various allowance calculations, and eligibility checks will be automated through AI and digital systems. For users capable of conducting their own job searches, online job and training recommendations will be provided, while vulnerable job seekers and those needing career transitions will receive focused face-to-face counseling and case management.The organizational structure will also be revised. Administrative tasks will be separated from employment support duties, and the roles of regional employment centers and frontline centers will be differentiated to allow frontline staff to concentrate on counseling and business support. The online employment support system, 'Employment 24,' will be transformed from a simple administrative portal into a 'digital employment center' that analyzes job seekers' resumes and skills to recommend tailored policies and training.Ministry of Employment and Labor Vice Minister Kwon Chang-jun stated, "Employment centers should be reliable partners accompanying individuals from the moment they graduate until after retirement. The core of this innovation is to delegate repetitive administrative tasks to AI and fill that space with services that connect people with jobs." He added, "We will carefully review expert opinions to ensure that policies resonate with citizens on the ground."Lee Byung-hee, head of the Korea Labor Institute, remarked, "This marks a crucial turning point for innovating the public employment service system, which has stagnated for over 20 years, and opens a new window of opportunity. I hope today's discussions serve as a valuable starting point for creating an employment service system that earns greater trust from the public and effectively responds to the changing labor market."* This article has been translated by AI. 2026-07-29 10:03:00
  • HD Hyundai Electric Shares Plunge 13% Despite Strong Q2 Performance
    HD Hyundai Electric Shares Plunge 13% Despite Strong Q2 Performance HD Hyundai Electric's shares fell sharply in early trading on concerns that the contribution of its new business to earnings may be delayed longer than expected, despite the company reporting second-quarter results that met market expectations.As of 9:56 a.m. on July 29, HD Hyundai Electric's stock was trading at 613,000 won, down 13.05% (92,000 won) from the previous trading day, according to the Korea Exchange.Market analysts believe that investor sentiment has been dampened by the possibility that significant revenue from the distribution business may not materialize as soon as anticipated.During a conference call following its earnings announcement, HD Hyundai Electric stated that while it is in discussions with major global tech companies, revenue from the distribution sector is not expected to be fully reflected until after 2029. This has led to a growing perception that the new growth drivers will not contribute to earnings in the short term.Additionally, uncertainties related to tariffs have weighed on short-term investor sentiment. The company reported that the impact of U.S. countervailing duty refunds was only about 6 billion won in the second quarter, and the actual benefits from tariff-related improvements are expected to become visible in about two years.However, the company's overall performance remained solid. HD Hyundai Electric announced that its consolidated revenue for the second quarter reached 1.1418 trillion won, with an operating profit of 287 billion won, marking increases of 26.0% and 37.3%, respectively, compared to the same period last year.* This article has been translated by AI. 2026-07-29 10:03:00
  • Ministry of Science and ICT Launches AI Talent Development Initiative
    Ministry of Science and ICT Launches AI Talent Development Initiative The Ministry of Science and ICT is strengthening collaboration between universities and companies to develop artificial intelligence (AI) talent.On July 29, the ministry announced the opening of the '2026 Korea AI Innovation Talent Connect' at The Plaz in COEX, Gangnam, Seoul. The event will run for three days until July 31.As of 2024, the number of AI professionals in South Korea is estimated to be around 57,000, but the demand from the industry far exceeds this figure. According to the Ministry of Employment and Labor, there will be a shortage of skilled workers in new technology fields, including 12,800 AI specialists, 18,800 cloud experts, and 19,600 big data professionals by 2027.Approximately 1,000 participants, including universities and companies involved in key AI talent development programs supported by the ministry, such as AI graduate schools, AI convergence innovation graduate schools, AI fellowships, and initiatives for cultivating leading talents in generative AI, are attending the event.During the opening ceremony, Deputy Prime Minister and Minister of Science and ICT Lee Kyung-sup, along with the head of the Information and Communication Planning and Evaluation Institute (IITP) and representatives from major AI companies and research institutions, including NC AI, LG AI Research Institute, Ellice Group, InEasy, and 42Maru, participated in a signing ceremony to declare the vision for industry-academia cooperation in AI talent development. The attendees agreed to enhance collaboration between universities' educational and research capabilities and the industry's needs to cultivate talent, which is crucial for national competitiveness in the AI era.Deputy Prime Minister Lee stated, "The key to AI competition is securing talent who can solve problems in the industry, beyond just technology research and development. The government will continuously support the ecosystem where universities and companies collaborate, allowing AI talents to pursue challenging research and grow sustainably."In a subsequent discussion, participants addressed the competencies required for talent in key areas such as data centers and physical AI, the characteristics of AI professionals needed by the industry, and ways to expand cooperation between universities and companies. The ministry plans to develop a strategy for supporting AI talent development based on feedback from the field, outlining the direction and support system necessary for nurturing talent in the AI era.During the event, various programs will be held to foster the growth and exchange of AI talent. These include keynote speeches, presentations and awards for outstanding graduate students, discussions with AI big tech veterans, a talk show titled 'The Meeting of Science and AI,' and a book concert. Additionally, an exhibition featuring 22 universities and nine companies will showcase the achievements of AI talent development initiatives and support students' career exploration through mock interviews, one-on-one consulting, corporate recruitment briefings, and graduate school admission counseling. 2026-07-29 10:03:00
  • August Personal Investment Bonds Worth 150 Billion Won to Be Issued with 20-Year Pre-Tax Yield of 161.8%
    August Personal Investment Bonds Worth 150 Billion Won to Be Issued with 20-Year Pre-Tax Yield of 161.8% The Ministry of Finance announced on July 29 that it will issue personal investment bonds worth 150 billion won next month.The issuance limits for each bond type are as follows: 30 billion won for 3-year coupon bonds, 70 billion won for 3-year compound interest bonds, 700 billion won for 5-year bonds, 500 billion won for 10-year bonds, and 200 billion won for 20-year bonds.The coupon rates will be based on the successful bidding rates of government bonds issued in July. The rates are 3.765% for 3-year bonds, 4.165% for 5-year bonds, 4.255% for 10-year bonds, and 4.530% for 20-year bonds.Additional rates will be added: 0.05 percentage points for 5-year bonds, 0.5 percentage points for 10-year bonds, and 0.4 percentage points for 20-year bonds. No additional rate will be applied to 3-year bonds, as it will be determined based on the yields of financial market products.If held until maturity, the pre-tax yields are approximately 11.3% for 3-year coupon bonds, 11.7% for 3-year compound interest bonds, 22.9% for 5-year bonds, 59.1% for 10-year bonds, and 161.8% for 20-year bonds.When converted to annual average yields, the rates are 3.8% for 3-year coupon bonds, 3.9% for 3-year compound interest bonds, 4.6% for 5-year bonds, 5.9% for 10-year bonds, and 8.1% for 20-year bonds.Subscriptions will be accepted from August 10 to 14, from 9 a.m. to 4 p.m. on business days. Individual investors wishing to purchase can apply at Mirae Asset Securities branches or through their website and mobile application.The minimum subscription amount is 100,000 won, and it can be increased in increments of 100,000 won. The maximum annual purchase limit per person is 200 million won.If the total subscription amount is within the issuance limits for each bond type, the entire requested amount will be allocated. If the total exceeds the limits, all applicants will receive priority allocation of up to 3 million won, with the remaining amount distributed proportionally based on subscription amounts.Personal investment bonds issued from June 2024 to July of last year can be redeemed early in August. However, early redemption will only yield the principal and simple interest based on the coupon rate at the time of purchase, without the benefits of compound interest or separate taxation on interest income. The limit for early redemption is set at 12.008 trillion won. 2026-07-29 10:03:00