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  • Renowned Japanese Mystery Author Keigo Higashino Dies at 68
    Renowned Japanese Mystery Author Keigo Higashino Dies at 68 Keigo Higashino, a leading Japanese mystery novelist, has passed away from colon cancer at the age of 68.Publishing company Kodansha announced on its official website that Higashino died in the early hours of July 23. His funeral was held as a private family ceremony, per the wishes of his family.Born in Osaka, Japan, in 1958, Higashino graduated from Osaka Prefectural University with a degree in electrical engineering and worked as an engineer at an automotive parts company. He began writing novels while working and made his official debut in 1985 with 'After School,' which won the 31st Edogawa Rampo Prize.Initially focusing on traditional detective fiction, Higashino later expanded his themes to explore human guilt, family relationships, social prejudice, and ethical issues in science and technology, establishing himself as a prominent popular novelist in Japan.In 1999, he received the 52nd Mystery Writers of Japan Award for 'Secret,' a story about a family living with hidden secrets. This work was also nominated for the Naoki Prize, significantly raising his profile in the literary world.In 2006, Higashino won the 134th Naoki Prize and the 6th Honkaku Mystery Award for 'The Devotion of Suspect X,' featuring the genius physicist Manabu Yukawa. The novel dominated Japan's mystery rankings and was nominated for the Edgar Award by the Mystery Writers of America in 2012.'The Devotion of Suspect X' and the 'Galileo Series' gained immense popularity for their unique cases and intricate logical structures, with the series selling over 16 million copies since Yukawa's first appearance in 1996. Subsequent titles included 'Detective Galileo,' 'Precognitive Dreams,' 'The Saint's Rescue,' 'The Equation of Mid-Summer,' and 'The Parade of Silence.'The 'Kyoichiro Kaga Series,' featuring detective Kaga Kyoichiro, is also among his notable works. Starting with 'Graduation,' it includes titles like 'The Sleeping Forest,' 'Evil,' 'Red Finger,' 'The Newcomer,' and 'The Wings of the Giraffe.' 'The Wings of the Giraffe' won the 48th Yoshikawa Eiji Literary Prize in 2014.Higashino consistently published works that crossed genre boundaries, including the 'Masquerade Series,' 'White Night,' 'Letter,' 'The Bond of Stars,' and 'The Miracles of the Namiya General Store.''The Miracles of the Namiya General Store' won the 2012 Chuo Koron Literary Prize, while 'Dreams' received the 2013 Shibata Renzaburo Prize. He was awarded the Noma Publishing Culture Prize in 2019 and the Kikuchi Kan Prize in 2023, the same year he received the Order of the Rising Sun from the Japanese government for his contributions to academia and the arts.Higashino's works set unprecedented sales records in the Japanese publishing market. By 2023, he had published 100 books, surpassing 100 million copies sold domestically, and by 2025, his total sales, including international editions, exceeded 160 million copies. Kodansha's official guide lists a total of 106 works.Many of his works have been adapted into films and dramas. In Japan, the 'Galileo' series, featuring Masaharu Fukuyama as Yukawa, was a box office success, and adaptations of 'White Night,' 'Secret,' 'The Bond of Stars,' 'The Newcomer,' 'The Miracles of the Namiya General Store,' and 'Masquerade Hotel' have also been produced.In South Korea, numerous works, including 'The Devotion of Suspect X,' 'White Night,' 'The Miracles of the Namiya General Store,' and 'Letter,' have been translated and published, gaining a wide readership. 'The Devotion of Suspect X' was reinterpreted as the film 'Suspect X,' while 'White Night' was adapted into 'White Night: Walking in the White Darkness.'Higashino served as the chairman of the Mystery Writers of Japan from 2009 to 2013 and was a judge for the Naoki Prize from 2014 to 2019, evaluating the works of emerging authors.His final new book is the 11th installment in the Galileo series, 'Eternal Memory,' set to be published on August 5 by Bungei Shunju. This will be Higashino's 106th work and marks the 30th anniversary of Yukawa's debut.'Eternal Memory' begins with a case involving detective Kaoru Utsumi being attacked by an elderly man. The publisher has introduced the work as the latest full-length novel in the Galileo series and plans to release it as scheduled.* This article has been translated by AI. 2026-07-27 16:36:00
  • Special Prosecutors Investigate Allegations of Cover-Up in Deutsche Motors Case
    Special Prosecutors Investigate Allegations of Cover-Up in Deutsche Motors Case The second special prosecutor team investigating allegations of a cover-up in the Deutsche Motors case, led by Special Prosecutor Kwon Chang-young, has initiated additional search and seizure operations at the Ministry of Justice, the Supreme Prosecutors' Office, and the Seoul Central District Prosecutors' Office. The team is focusing on whether there was any involvement from the Ministry of Justice, the presidential office, or Kim Geon-hee's side in the decision not to prosecute her, as well as the circumstances surrounding changes to the investigation records.During a regular briefing on July 27 at the special prosecutor's office in Gwacheon, Kim Ji-mi, the deputy special prosecutor, stated, "We are currently conducting searches related to the cover-up of the Deutsche investigation involving the Ministry of Justice and the Supreme Prosecutors' Office."The search targets include computers and messaging apps used by then-Minister of Justice Park Seong-jae, Deputy Minister of Justice Shim Woo-jeong, and the head of the Criminal Planning Division. The investigation also aims to secure data from the server of the anti-corruption investigation team at the Seoul Central District Prosecutors' Office and documents stored on PCs.Kim explained, "This search is to confirm whether there was any involvement from the Ministry of Justice, the presidential office through the Ministry of Justice, or Kim Geon-hee in the non-prosecution decision, as well as to investigate the changes in the investigation records at that time."The special prosecutor's team is expected to indict Kim Tae-hyo, the former first deputy director of the National Security Office, this week on charges related to insurrection. Additionally, they have conducted investigations into Kim Jong-wook, the former head of the Coast Guard, who is facing charges related to insurrection.Furthermore, two corps commanders under the Ground Operations Command have been added as suspects for their roles in preparing for martial law and related activities.In connection with the Chae Hae-byeong case, investigations are ongoing into the former commander of the Army's Counterintelligence Command and the head of the counterintelligence unit for their alleged abuse of power in obstructing the collection of information related to 'VIP channels.' The special prosecutor's team is also continuing to interview witnesses related to the Guardian Task Force (TF).Following recent amendments to the Special Prosecutor Act, the team has requested the opinion of the insurrection special prosecutor regarding the indictment of Cho Seong-hyeon, the former commander of the Army's Capital Defense Command. They are also seeking to identify cases previously deemed non-prosecutable by the insurrection special prosecutor that may fall under the scope of the current investigation.Regarding allegations of changes to the Seoul-Yangpyeong Expressway route, former Minister of Land, Infrastructure and Transport Won Hee-ryong was summoned for questioning last week, and a second round of suspect interviews is scheduled for next week following forensic analysis of seized materials. The special prosecutor's team has determined that cooperation with Won is proceeding smoothly and has not extended his travel ban.Additionally, in connection with allegations of covering up the Unification Church investigation, the former head of the National Police Agency's Criminal Intelligence Division and former Commissioner Yoon Hee-keun have been investigated as suspects, with plans to continue interviewing Unification Church officials as witnesses.The special prosecutor's team plans to visit the Seoul Eastern Detention Center on July 28 to conduct an investigative interview with Kim Yong-hyun, the former Minister of National Defense, who is facing charges of conspiracy to commit murder for insurrection-related purposes.Meanwhile, regarding allegations of obstructing the arrest of former President Yoon Seok-yeol, lawmakers Na Kyung-won and Kim Ki-hyun from the People Power Party, who have been summoned, have expressed their intention to submit written statements, although they have not yet done so, according to the special prosecutor's office.* This article has been translated by AI. 2026-07-27 16:36:00
  • Lotte Global Logistics Donates Proceeds from Charity Bazaar
    Lotte Global Logistics Donates Proceeds from Charity Bazaar Lotte Global Logistics announced that it held a charity bazaar, 'LGL Hanmaeum Flea Market,' and donated all proceeds to the social welfare organization Angels Haven on July 27.The bazaar was conducted under the slogan, 'Give wings to unused items, and hope to our neighbors.' Last month, employees of Lotte Global Logistics voluntarily donated unused items, which were sold back to employees at a flea market held at the company's headquarters in Seoul on July 10.Lotte Global Logistics combined the bazaar proceeds with company funds and delivered the donation to Angels Haven on July 24. The funds will be used to support children and youth at the Eunpyeong Angels Haven care facility.This initiative was organized by the Lotte Global Logistics Workers' Committee, which represents employees in activities aimed at company development and improving employee rights.A company representative stated, "We will continue to practice ESG (Environmental, Social, and Governance) management to fulfill our social responsibilities and strengthen our partnership with the community, promoting a culture of warm sharing."Meanwhile, Lotte Global Logistics published its '2025 Sustainability Management Report' on June 30, detailing its ESG management achievements, including the launch of the eco-friendly packaging solution LecoP, industry-leading renewable energy transition efforts, and employee participation in eco-friendly activities.* This article has been translated by AI. 2026-07-27 16:36:00
  • Dongkuk Steels Incheon Plant Bounces Back from Shutdown Crisis
    Dongkuk Steel's Incheon Plant Bounces Back from Shutdown Crisis On July 22, Dongkuk Steel's Incheon plant was operational again after experiencing its first-ever shutdown last year. The 120-ton electric furnace was actively producing molten steel, filling the workshop with intense heat as the electrodes melted scrap metal. While robotic arms measured the temperature of the molten steel, the glowing metal was transformed into semi-finished billets through the casting process. The plant appeared to have regained its vitality after a period of stagnation.The Incheon plant serves as a key production base for Dongkuk Steel's future electric furnace technology. It features two electric furnaces and two rolling lines, with an annual production capacity of 2.2 million tons, accounting for 18.3% of the country's total rebar production capacity.Last year, a downturn in the construction industry led to a significant drop in domestic rebar demand, prompting Dongkuk Steel to halt operations on some production lines at the Incheon plant for the first time in its history. The work schedule, which had been operating on a four-shift, three-team basis, was adjusted to a three-shift, two-team system, causing the plant's operating rate to plummet to 50%.The revival of the plant was driven by the overseas market. To offset domestic sluggishness, Dongkuk Steel began expanding exports in late 2023, completing product certifications for Australia, New Zealand, Singapore, Hong Kong, and Japan. As a result, the plant's operating rate has recovered to around 70%, with the export share increasing from single digits to between 17% and 20%.The key to this transformation is technology. The Incheon plant is equipped with the country's only eco-friendly, large-capacity shaft-type electric furnace, known as the ECO-ARC. This system recycles waste heat generated in the electric furnace to preheat the scrap metal for the next batch, significantly reducing electricity consumption and production costs.While a conventional electric furnace requires about 400 kWh of electricity to produce one ton of molten steel, the ECO-ARC only needs approximately 260 kWh, achieving a 35% reduction in power usage.Dongkuk Steel is also accelerating the development of the next-generation eco-friendly facility, the Hyper EAF, which aims to further enhance waste heat recovery and scrap preheating technologies to reduce electricity consumption and carbon emissions.However, challenges remain. Although the plant's operating rate has improved due to increased exports, the ongoing steel industry downturn has left the first rolling mill, which produces rebar, still inactive. Additionally, the burden of high electricity costs complicates profitability. The Incheon plant incurs annual electricity expenses of up to 70 to 80 billion won, and the introduction of a regionally differentiated electricity pricing system could further increase costs for the plant located in the metropolitan area.Lee Chan-hee, executive director of the Incheon plant, stated, "We aim to transform into an AI-based factory to enhance worker safety, cost efficiency, and quality competitiveness, making the Incheon plant the last electric furnace standing in the metropolitan area. However, maintaining competitiveness requires a reasonable electricity pricing system to support our efforts." 2026-07-27 16:36:00
  • BTS Butter becomes seventh music video to surpass 1.1 billion views on YouTube
    BTS' 'Butter' becomes seventh music video to surpass 1.1 billion views on YouTube SEOUL, July 27 (AJP) - K-pop juggernaut BTS' hit single "Butter" has garnered over 1.1 billion views on YouTube, their management agency said on Monday. Released in May 2021, the song's music video reached the milestone earlier in the day, becoming the group's seventh video to achieve the feat. It became their seventh music video to surpass 1.1 billion views, following "Dynamite," "DNA," "Fake Love," "IDOL," "Boy With Luv" and "MIC Drop." "Butter," BTS' second English-language single following "Dynamite," released roughly a year earlier, is a dance-pop track featuring an addictive melody and upbeat sounds. The song surpassed 10 million views just minutes after its release and reached 100 million views in less than a day. It also debuted at No. 1 on the U.S. Billboard Hot 100, the main singles chart, and remained on the chart for about 20 weeks. Meanwhile, BTS will perform at MetLife Stadium in New York this weekend as part of their world tour "Arirang," which kicked off in Goyang, Gyeonggi Province in April. 2026-07-27 16:34:45
  • SM Entertainment and SAMG Entertainment Collaborate on K-Pop Animation
    SM Entertainment and SAMG Entertainment Collaborate on K-Pop Animation SM Entertainment is partnering with global IP content company SAMG Entertainment to co-produce an animation centered on K-pop.On July 27, SM announced that it has signed a co-production agreement with SAMG for the animation titled 'Superhero Idol Project,' aimed at developing new animation IP for the global market.The 'Superhero Idol Project' combines the K-pop universe with animated content. The series is planned to consist of 13 episodes, each approximately 20 minutes long, with a target release on global OTT platforms in 2028.This project primarily targets teenagers and young adults in their 20s and 30s. It aims to attract both K-pop fans and animation viewers through storytelling that merges artist IP with superhero narratives.SM will be involved in the planning and production of the key music featured in the project, as well as in the singing and overall performance. The company intends to leverage its accumulated expertise in music production and performance to enhance the quality of the animation content.Both companies plan to expand this project beyond animation production into an integrated IP business model that encompasses music, concerts, management, and video licensing.* This article has been translated by AI. 2026-07-27 16:32:00
  • Japan Secures $55 Billion Investment in U.S. with Major Banks Support
    Japan Secures $55 Billion Investment in U.S. with Major Banks' Support Japan has reached an agreement for a $55 billion investment in the United States, with CitiGroup and JP Morgan Chase participating as funding providers. The structure involves major U.S. banks lending dollars while the Japanese government guarantees the risk of losses. This marks a shift in private funding from Japanese banks in the first phase to U.S. banks in the second phase, alleviating one of the biggest challenges in securing large amounts of dollars for the investment.The Nihon Keizai Shimbun reported on the 26th that Citi and JP Morgan will provide funding for the second phase of the U.S. investment project alongside the Japan Bank for International Cooperation (JBIC). The Japanese Ministry of Finance also announced on social media that it is considering loans from foreign banks in addition to JBIC's financing.The second phase includes plans to construct next-generation nuclear power plants and gas power plants in the U.S., with a total project cost of up to 12 trillion yen, double that of the first phase. Citi and JP Morgan will initially lend approximately 500 billion yen (about $4.5 billion) for two gas power plants, with each institution covering one-third of the loan amount, while Japanese private banks will not participate.Going forward, the plan is to increase the loan amount as new funding needs arise. By involving U.S. banks with ample dollar resources, the burden on Japanese banks to secure large amounts of dollars directly is reduced. The Japanese Ministry of Finance stated that the participation of U.S. banks will facilitate foreign currency procurement.The biggest challenge for Japan's investment in the U.S. has been how to secure the massive amounts of dollars needed. Based on projects agreed upon by both countries, it is estimated that private banks need to procure over 4 trillion yen in dollars. As of the end of March, the overseas loan balance of Japan's three major banks—Mitsubishi UFJ Bank, Sumitomo Mitsui Trust Bank, and Mizuho Bank—was approximately 140 trillion yen. This means that about 30% of their existing overseas loans will be added solely for the U.S. investment.If Japanese banks are to secure dollars on their own, they would need to increase foreign currency deposits or purchase dollars in the market. Continued dollar purchases could exert further downward pressure on the yen. The private loans for the first phase of the project, which began in April, were handled by the three major banks. They have expressed concerns to the government that securing large amounts of dollars will be essential for continuing loans after the second phase.The three major banks have been discussing medium- to long-term dollar procurement strategies with the Ministry of Finance and the Bank of Japan, seeking support. They have explored options such as utilizing the special account for foreign exchange funds, dollar funding from the Bank of Japan, and expanding JBIC's loans. While the immediate burden has been reduced with the participation of U.S. banks, not all dollars needed for the entire U.S. investment have been secured.The Nippon Export and Investment Insurance (NEXI) will guarantee the loans from U.S. banks, reducing the risk of losses. Citi and JP Morgan will earn profits from Japan's investment projects in the U.S. under the Japanese government's guarantee. However, it remains unclear how much profit will actually return to the Japanese companies responsible for local operations.The U.S. investment was agreed upon last July as a condition for reducing the previously imposed 25% tariff rate on Japanese automobiles and other products. According to the agreement, once the U.S. President selects the investment targets and notifies Japan, the Japanese side must secure dollar funding within 45 business days. The financing related to the gas power plants in the second phase, agreed upon in mid-March, is expected to be executed within that timeframe.After the U.S. Supreme Court ruled that mutual tariffs were invalid, the Trump administration announced new tariffs on the 23rd to maintain high tariff rates. The rate applied to Japan has been set at 12.5%.Japan is ahead of South Korea and the European Union in concretizing multiple investment projects and funding structures. With South Korea also beginning its U.S. investment in the shipbuilding sector on the 23rd, Japan's approach of combining U.S. bank participation with government guarantees to share the burden of dollar procurement may serve as a reference for South Korea's investment efforts in the U.S.* This article has been translated by AI. 2026-07-27 16:32:00
  • iM Financial Reports 2.956 Trillion Won in First-Half Net Profit, Down 4.4% Year-on-Year
    iM Financial Reports 2.956 Trillion Won in First-Half Net Profit, Down 4.4% Year-on-Year iM Financial Group reported a net profit of 2.956 trillion won for the first half of the year. While total operating profit increased due to expanded corporate lending and improved performance from subsidiaries, net profit saw a slight decline due to increased provisions.In its earnings announcement on July 27, iM Financial Group stated that its cumulative net profit attributable to shareholders for the first half of 2026 was 2.956 trillion won, a decrease of 4.4% compared to the same period last year. The net profit for the second quarter was 1.411 trillion won, down 9% from 1.550 trillion won in the same quarter last year.However, the group's total operating profit rose by 4.4% year-on-year. Interest income increased by 4.1% due to expanded corporate lending at iM Bank and growth in operating assets at iM Capital, while non-interest income from iM Securities also grew, supported by a recovery in the capital markets.By subsidiary, iM Bank recorded a net profit of 2.457 trillion won in the first half, driven by a 5.9% growth in corporate lending. The balance of won-denominated loans surpassed 60 trillion won for the first time. Key soundness indicators, including delinquency rate (0.87%), ratio of non-performing loans (0.94%), and cost of credit (0.41%), were also managed stably.The growth trend continued for non-bank subsidiaries. iM Capital achieved a net profit of 395 billion won, with operating assets increasing by 13.9% year-on-year, while iM Securities saw a significant rise in commission income due to an active capital market, reporting a net profit of 449 billion won. iM Life contributed to the group's performance with a net profit of 182 billion won, up 31.9% from the same period last year.The common equity tier 1 (CET1) ratio for the first half improved to a record high of 12.27%.Meanwhile, iM Financial Group's board of directors approved a plan for an additional 30 billion won in share buybacks and cancellations. Once completed, the total amount of share buybacks and cancellations will reach 1.3 trillion won. The company aims to achieve its target of enhancing corporate value, set at 1.5 trillion won, ahead of schedule by 2027.Cheon Byeong-kyu, Chief Financial Officer of iM Financial Group, stated, "We will manage our capital ratio stably to achieve the first goal of enhancing corporate value ahead of schedule and actively utilize tax-free dividend opportunities to ensure tangible improvements in shareholder value."* This article has been translated by AI. 2026-07-27 16:32:00
  • HD Hyundai Marine Solutions Reports 2nd Quarter Operating Profit of 97.6 Billion Won
    HD Hyundai Marine Solutions Reports 2nd Quarter Operating Profit of 97.6 Billion Won HD Hyundai Marine Solutions announced on July 27 that it recorded a revenue of 580.4 billion won and an operating profit of 97.6 billion won for the second quarter of this year. These figures represent increases of 24.1% and 17.6%, respectively, compared to the same period last year.The growth is attributed to the overall performance of its core businesses, including the AM sector related to ship parts and services, eco-friendly retrofitting, and digital solutions, alongside increased revenue from its bunkering operations.Breaking down the performance by business segment, the revenue from the three core areas rose by 25.2% to 356.7 billion won, while the bunkering business saw a 22.3% increase, reaching 223.7 billion won.The eco-friendly solutions segment experienced significant growth, with major ship retrofitting projects ramping up, resulting in a 38.1% increase in revenue to 45.3 billion won compared to the same period last year. HD Hyundai Marine Solutions aims to complete its first-generation retrofitting projects, such as the installation of ballast water treatment systems and desulfurization equipment, while expanding into next-generation retrofitting projects focused on eco-friendly fuel conversion and carbon reduction to capture global demand for gas ship retrofitting.The digital solutions segment also continued its upward trend. With an increase in new vessels equipped with new solutions, sales of power generation shaft generators and specialized control systems for ships rose by 65.5% to 36.4 billion won compared to the previous year.A representative from HD Hyundai Marine Solutions stated, "We are establishing a stable business foundation with balanced growth across our core areas of AM, eco-friendly, and digital solutions. We will strengthen our efforts in the rapidly growing market for power engines for data centers and the floating data center retrofitting market, driven by the widespread adoption of AI technology."Additionally, HD Hyundai Marine Solutions announced in May that it had signed a memorandum of understanding (MOU) with AEG, a U.S. energy infrastructure development company, for the maintenance and repair of power engines for data centers.* This article has been translated by AI. 2026-07-27 16:32:00
  • Social Mobility Declines in Seoul, OECD Reports
    Social Mobility Declines in Seoul, OECD Reports Moving from rural areas to Seoul and other parts of the capital region can lead to higher incomes, but the effect on social mobility has weakened, particularly among younger generations, according to an analysis by the Organization for Economic Cooperation and Development (OECD). The likelihood of relocating to the capital region is increasingly influenced by parents' economic conditions.On July 27, the Korea Research Institute for Vocational Education and Training released an issue brief highlighting findings from Chapter 4 of the 'OECD Economic Report on Korea 2026.' The OECD noted that economic opportunities, quality jobs, education, and various services are concentrated in the capital region, exacerbating regional disparities.The OECD and the Bank of Korea analyzed data from over 1,000 individuals born between 1971 and 1990 and their parents, using the Korean Labor Panel Survey from 1998 to 2023. They classified cases where individuals' birthplace differed from their current residence as regional migration and examined the income relationship between parents and children based on whether they were born in or moved to the capital region.The analysis revealed that those who relocated generally exhibited higher intergenerational income mobility compared to those who did not migrate. Specifically, moving from non-capital areas to the capital region resulted in a significant increase in individuals' absolute income levels.However, this benefit was not uniform across all demographics. For individuals born outside the capital region, the advantages of moving to the capital were heavily dependent on their parents' income. Children from relatively low-income families were found to have a lower likelihood of relocating to the capital.Generational differences were also evident. The impact of regional migration on income mobility was more pronounced in earlier generations, while it has diminished for those born between 1981 and 1990. The OECD concluded that the correlation between parents' and children's incomes has strengthened among younger generations, making it increasingly difficult to offset this through regional migration alone.High housing costs in the capital region were identified as a significant barrier. According to the OECD, apartment prices in the capital region have nearly doubled from 2013 to 2026, significantly outpacing wage growth. As of 2024, the national housing supply rate was 102.5 units per 100 households, but in Seoul, it was only 94 units. More than half of Seoul's apartments are over 20 years old.In 2025, only about 7% of homes in Seoul were affordable for median-income households using standard mortgage loans without additional asset support, a sharp decline from 32% in 2012. The OECD considers homes affordable if the required mortgage repayment does not exceed 25% of household income.In Gyeonggi and Incheon, the proportion of affordable housing for median-income households was also less than half. The OECD explained that even when including jeonse (a type of lease), the close correlation between jeonse deposits and housing prices means the core conclusions of the analysis remain unchanged.The concentration of population in the capital region is also exacerbating the decline and aging of populations in non-capital areas. As young people migrate to the capital in search of education and jobs, non-capital regions face labor shortages, reduced tax revenues, and diminished local services, further encouraging youth outmigration.The OECD believes that policies aimed solely at reducing housing and migration costs are insufficient. To alleviate the concentration in the capital region and intergenerational inequality, improvements in job quality, access to education, vocational training, and digital infrastructure in regional areas are essential.* This article has been translated by AI. 2026-07-27 16:28:00