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  • AIs Role in South Koreas Future: From Industry Trend to Strategic Asset
    AI's Role in South Korea's Future: From Industry Trend to Strategic Asset Artificial intelligence (AI) is no longer just a buzzword in the industry. It is already transforming daily life and corporate production methods, from search and translation to document creation, factory automation, and drug development.In the context of the U.S.-China power rivalry, AI has become a strategic asset that influences military, economic, and diplomatic superiority. This backdrop has led the government to recently announce three major mega-projects for South Korea's leap forward, centered on semiconductors, physical AI, and AI data centers. The plan aims to establish the brain, body, and heart of AI domestically to maintain a competitive edge.However, voices from the science and technology and information technology sectors are more anxious than optimistic, especially as the 22nd National Assembly enters its second half. Contrary to its name, the Science, Technology, Information, Broadcasting, and Communications Committee (the Science Committee) has been more focused on broadcasting and politics than on scientific issues.Disputes over appointments in the Broadcasting, Media, and Communications Committee and the governance structure of public broadcasting have dominated discussions, pushing science and technology issues to the background. This has led to self-deprecating remarks that the committee should be called the 'Broadcasting Committee' instead.The special law for AI data centers was dramatically passed in the National Assembly after the Ministry of Science and ICT and the Ministry of Climate, Energy, and Environment managed to reconcile their differences over power provisions. However, not all bills have reached such conclusions. Basic science and research and development (R&D), which have been prioritized in AI policy, have not had sufficient opportunities to be discussed.As the competition for technological supremacy accelerates, the pace of the National Assembly has slowed. Ironically, the Yoon Suk Yeol administration's budget cuts for R&D have brought the scientific community back into the political and media spotlight. While the pain in research fields has been significant, it has also reaffirmed that the R&D ecosystem is directly linked to the nation's future.Now that the political utility of the budget cut controversy has faded, the scientific community fears being pushed back into obscurity. Initiatives like K-Moonshot, which supports long-term, high-risk research, and efforts to restore the damaged research ecosystem may be sidelined due to their lack of political appeal compared to broadcasting issues.Thus, the policy meeting held by the Science Committee on July 22 is seen as a small change. A government official who attended the meeting expressed relief, stating, 'The ruling party showed deep interest and a proactive attitude toward science and technology and IT policies.' The fact that issues from the Ministry of Science and ICT and the Broadcasting, Media, and Communications Committee were discussed separately is also encouraging. It signals a potential shift away from treating science and technology as a mere appendix to broadcasting politics.The challenge now is whether these signals will translate into tangible results. Government policies do not operate merely through announcements. Budgeting, taxation, permits, power grids, site selection, and talent development all require legal and institutional support. Policies that cross departments, the private sector, and localities, like the three mega-projects, necessitate organic coordination among the government, ruling party, and opposition cooperation.Of course, the constitutional principle of checks and balances between the executive and legislative branches must be upheld. However, checks should not be about hindering progress, and cooperation should not equate to merely rubber-stamping legislation. The National Assembly should scrutinize government plans for weaknesses while responsibly facilitating necessary bills and budgets.The government must also avoid interpreting cooperation as one-sided legislative support. It should transparently present issues such as funding, power and water burdens, local acceptance, and uncertainties in private investment, and respond to the National Assembly's scrutiny. This way, cooperation between the government and the ruling party can become a process that enhances policy completeness rather than a backroom deal or a race against time.Science and technology may not be materials for boosting immediate approval ratings. However, as a window into the future, they offer a glimpse into the industries, jobs, and national prospects of the next decade. If the second half of the Science Committee remains focused solely on broadcasting, the government risks losing South Korea's future.* This article has been translated by AI. 2026-07-27 16:24:00
  • KOSPI Breaks Monday Slump with Gains Driven by Retail and Institutional Buying
    KOSPI Breaks Monday Slump with Gains Driven by Retail and Institutional Buying The KOSPI index, which had experienced a decline every Monday for the past four weeks, finally closed higher on July 27. The index's rise was attributed to increased buying from retail and institutional investors, breaking the cycle of Monday losses.According to the Korea Exchange, the KOSPI rose by 65.13 points (0.97%) to finish at 6755.75. This ended a four-week streak of Monday declines, which included drops of 0.20% on June 29, 0.46% on July 6, 8.95% on July 13, and 4.46% on July 20. Retail investors purchased a net 1.98 trillion won, while institutions bought a net 862.3 billion won, contributing to the index's increase. In contrast, foreign investors sold a net 2.90 trillion won.Over the past month, the KOSPI had consistently faced downward pressure on Mondays. This trend was attributed to the reflection of overseas market movements, key economic indicators, policy changes, and geopolitical risks on the domestic market at the start of the week, leading to increased volatility. Notably, on July 13, the index plummeted by 8.95%, marking a so-called 'Black Monday,' and on July 20, it fell by over 4%, significantly dampening investor sentiment.However, the gains on this day did not meet expectations given the positive news over the weekend. Semiconductor stocks, despite favorable developments related to artificial intelligence (AI) investments, did not show enough momentum to lead the index higher. Samsung Electronics closed up 1.80% at 254,000 won, while SK Hynix rose 3.24% to 1,816,000 won. Market analysts noted that the listing of Chinese memory chip maker Changxin Memory Technologies (CXMT) contributed to supply and demand fluctuations.Lee Kyung-min, a researcher at Daishin Securities, stated, "During the AI summit in San Francisco over the weekend, major investments by domestic companies and collaborations with global tech giants were announced. While robust AI investments and collaborations exert upward pressure on related sectors, the impact of CXMT's listing has limited the upward momentum of domestic AI and semiconductor stocks."Looking ahead, this week is significant as major earnings reports are expected from U.S. tech giants like Meta, Microsoft, and Amazon, as well as from domestic leaders such as Samsung Electronics and SK Hynix. With the Federal Open Market Committee (FOMC) results also due, the potential for increased market volatility is high.Han Ji-young, a researcher at Kiwoom Securities, noted, "The domestic market is awaiting earnings from key sectors, including Samsung Electronics, SK Hynix, Samsung Electro-Mechanics, and Hanwha Aerospace. As we move into the middle of the week, the simultaneous processing of these events will likely lead to increased volatility. However, considering that the market has entered a phase where the potential for upward movement outweighs downside risks in terms of pricing and valuation, it is advisable to maintain existing positions in leading stocks or to consider gradual buying during corrections."* This article has been translated by AI. 2026-07-27 16:24:00
  • Chinese Stock Market Rises on CXMTs Successful Debut
    Chinese Stock Market Rises on CXMT's Successful Debut On July 27, the Chinese stock market experienced a broad increase, largely attributed to the successful debut of CXMT (Changxin Memory Technologies), the country's largest DRAM manufacturer.The Shanghai Composite Index closed up 1.16% at 3,858.25, while the Shenzhen Component Index rose 2.72% to 14,148.73, and the ChiNext Index increased by 3.16% to 3,590.79.The highlight of the day was undoubtedly CXMT's listing on the Shanghai Stock Exchange's STAR Market. The stock opened at 49.88 yuan, a staggering 476% increase from its initial public offering price of 8.66 yuan, and closed at 49.00 yuan, marking a 465.8% rise.With this performance, CXMT surpassed the Industrial and Commercial Bank of China to become the company with the largest market capitalization on the Chinese stock market, reaching 3.28 trillion yuan compared to the bank's 2.76 trillion yuan.Chinese financial analysts and media have hailed CXMT's listing as a symbolic event for the country's semiconductor industry. It reflects not just a single company's IPO but also a surge of positive investor sentiment regarding the growth of China's semiconductor sector, the localization of its AI supply chain, and technological self-sufficiency.Reports indicate that CXMT plans to invest the funds raised from the IPO heavily into the HBM (High Bandwidth Memory) sector. There are also expectations that the successful IPO will accelerate research and development in this area.Additionally, a temporary easing of hostilities between the U.S. and Iran, along with a drop in oil prices—Brent crude fell 4.7% and WTI dropped 5.0%—contributed to the upward trend in the Chinese stock market. The decline in oil prices alleviated inflation concerns, leading to increased buying activity across the market.Chen Guo, an analyst at Dongfang Zhiyuan, stated, "We view the medium-term economic trends and business potential of China's AI value chain positively. Even if adjustments occur in this sector, we do not see it as pessimistic and believe it should be viewed as an opportunity to increase holdings in leading technology companies."Stocks related to brain-computer interfaces (BCI) also saw significant gains, with companies like Aipeng Medical and Nanjing Panda reaching their upper price limits.In a related development, U.S. startup Science Corporation received approval to sell retinal chips in the EU to assist patients with 'glaucoma-associated' vision recovery. This marks the first instance of a U.S. brain-computer interface company receiving market approval for such equipment, with plans to eventually launch brain implant devices.The battery sector also showed strength, with Wanli Co. and Longpan Technology hitting their upper price limits.In July, sales of new energy vehicles in China are expected to reach 980,000 units, raising the penetration rate of new energy vehicles in the Chinese automotive market to 64.5%. Additionally, the overall production plan for the Chinese battery industry in August is projected to increase by 7.4% from the previous month to 304 GWh, indicating continued growth.Meanwhile, the People's Bank of China announced a yuan exchange rate of 6.7911 yuan per dollar, a decrease of 0.0028 yuan from the previous trading day, reflecting a 0.04% increase in the value of the yuan.* This article has been translated by AI. 2026-07-27 16:20:00
  • Champions City Project to Donate Three Bridges in Addition to $589.9 Million Contribution
    Champions City Project to Donate Three Bridges in Addition to $589.9 Million Contribution The Champions City project, a large-scale mixed-use development on the site of the former Jeonnam Textile and Ilshin Textile factories, is set to contribute 589.9 billion won ($589.9 million) in public contributions and donate three additional bridges connecting to areas outside the project zone. The city of Gwangju is currently conducting a revision of its urban management plan and is moving forward with the bridge installation based on the results of a traffic impact assessment.According to the construction industry and the Gwangju Integrated Special City on July 27, the plan for the bridge installations is progressing separately from the 589.9 billion won public contribution agreement related to the Champions City development.A representative from Gwangju Integrated Special City stated, "In addition to the 589.9 billion won public contribution agreement related to the Champions City development, we are also pursuing the installation of bridges. We are currently conducting a revision of the urban management plan and will decide on the bridge installation as urban planning facilities in the subsequent review process."The additional installations will include three bridges connecting to areas outside the project zone, with two of them designed for vehicle traffic. These facilities are separate from the roads and mixed-use facilities included in the existing public contribution agreement. It is reported that the request for additional donations arose during the traffic impact assessment process to disperse the increased traffic expected from the development project.Champions City is a large-scale mixed-use development project initiated by a consortium including Shinyoung Group and Woomee Construction, which purchased the site of the former Jeonnam Textile and Ilshin Textile factories in July 2020. The project combines residential, commercial, office, and cultural functions, with the first phase of construction and sales for 3,216 housing units set to begin in September.The developer plans to pay the public contribution of 589.9 billion won as agreed with the city. This contribution consists of 300 billion won in cash and 289.9 billion won in kind, including the construction of roads. As the first and second residential complexes and the third luxury hotel and historical park are constructed sequentially, 10% of the cash public contribution will be paid over four years, with the remaining 60% due upon project completion.A representative from Shinyoung Group confirmed, "The existing plan to pay 10% of the cash public contribution over four years and the remaining 60% at the time of completion remains unchanged. Once the first residential complex begins construction as scheduled, we plan to pay the first public contribution of approximately 15.4 billion won within one month of receiving the construction permit."Champions City was initially delayed after Daewoo Engineering & Construction and POSCO E&C were selected as preferred bidders but subsequently withdrew from the project. The schedule resumed after Woomee Construction, a shareholder in the project financing vehicle, took over the construction.The developer is also in the process of selecting a construction company for the second residential complex and the third luxury hotel. A representative from Shinyoung Group stated, "We plan to proceed separately from the first phase and will finalize the schedule for the next projects after observing the results of the first phase sales."Following the establishment of a semiconductor cluster in the Honam region, there are indications of an improved atmosphere in the Gwangju housing market. A representative from the housing sales industry noted, "Since the designation of the semiconductor cluster, contracts for unsold units have increased, indicating a better market atmosphere than before, although polarization remains between well-located new constructions and others."They added, "Given that Champions City is a large complex with over 3,200 units, there may be initial sales pressure, but it should be manageable if supplied sequentially. The volume of large-scale supply and the sale prices will be key factors in its success."Meanwhile, the model house for 'Champions City Phase 1' is set to open in September on the project site. 2026-07-27 16:20:00
  • Ex-President Yoons 2022 campaign statements ruled false
    Ex-President Yoon's 2022 campaign statements ruled false SEOUL, July 27 (AJP) - A South Korean court on Monday sentenced former President Yoon Suk Yeol to 18 months in prison, suspended for three years, after finding him guilty of making false statements during the campaign that carried him to the presidency in 2022. The first-instance verdict could also deliver a heavy financial blow to the conservative People Power Party. If the sentence survives the appeals process, the party would be required to return 39.7 billion won, or about $27 million, in election expenses and related funds reimbursed by the National Election Commission. The Seoul Central District Court’s Criminal Division 21, led by presiding Judge Cho Soon-pyo, ruled that Yoon violated the Public Official Election Act through statements concerning a former tax official and a controversial spiritual adviser with links to his wife, former first lady Kim Keon Hee. The first charge involved remarks Yoon made at a nationally televised Kwanhun Club debate on Dec. 14, 2021, when he was the PPP’s presidential candidate. Yoon denied having introduced a lawyer, identified only by the surname Lee, to Yoon Woo-jin, a former chief of the Yongsan Tax Office. The court, however, concluded that the former president had made the introduction, accepting the findings of a special counsel investigation launched into corruption and influence-peddling allegations surrounding Kim. The second charge stemmed from an interview at a Buddhist leaders’ forum on Jan. 17, 2022. Yoon said that a party official had introduced him to Jeon Seong-bae, a self-styled spiritual adviser widely known as Geonjin Beopsa, and denied that he and Kim had met Jeon together. The court found that Yoon had first met Jeon through Kim and that the couple maintained ties with him for more than a decade. Jeon later emerged as a central figure in investigations into allegations that individuals and organizations sought access to the presidential couple through unofficial intermediaries. Special counsel Min Joong-ki’s team had requested a two-year prison sentence for Yoon at the final hearing in June. Yoon was indicted in December 2025 after the special counsel investigated a broad range of allegations involving the former first lady, including election interference, stock manipulation and the acceptance of valuables. Under South Korea’s election law, candidates who are elected or receive at least 15 percent of the vote are generally entitled to full reimbursement of authorized campaign expenses. But when an election-invalidating sentence — a fine of at least 1 million won — becomes final, the reimbursed money must be returned. For presidential candidates nominated by political parties, that financial obligation falls on the party that endorsed the candidate. The PPP received nearly 40 billion won after Yoon’s election, making the case potentially one of the most expensive election-law convictions in South Korean political history. Yoon won the March 2022 presidential election with 48.56 percent of the vote, defeating liberal rival Lee Jae Myung, who received 47.83 percent. The gap of 0.73 percentage points was the narrowest in the country’s presidential election history. The verdict carries no practical consequence for Yoon’s former presidential tenure because he was removed from office by the Constitutional Court in April 2025 over his short-lived declaration of martial law in December 2024. Lee, Yoon’s opponent in the 2022 election, subsequently won the snap election held in June 2025 and began a five-year term as president. The PPP has since returned to the opposition and struggled to distance itself from Yoon’s martial-law legacy. Monday’s suspended term also does not mean Yoon will be released. The Supreme Court earlier this month finalized a separate seven-year prison sentence against him for obstructing investigators’ attempts to detain him following the martial-law crisis. He has faced multiple criminal proceedings since his removal, including cases involving martial law, opinion polls and alleged interference in government and party affairs. The PPP will not be required to return the 39.7 billion won unless the election-law conviction becomes final. The first-instance judgment remains subject to appeal. People Power Party lawmakers raised questions with AJP about whether the judiciary had applied its standards fairly. Four-term lawmaker Rep. Han Ki-ho argued that “there is a problem with fairness.” “President Lee Jae Myung’s trial over the publication of false information was delayed for as long as four years, and it is wrong that the proceedings have now been suspended,” Han said. “President Lee’s trial should also proceed and be brought to a conclusion.” “I believe the ruling is excessively harsh compared with the handling of President Lee Jae Myung’s trial,” said Rep. Park Soo-young, a two-term lawmaker. “It is too harsh to impose a prison sentence merely over whether Yoon met Jeon,” Park said. “President Lee said that he had never forcibly committed his older brother to a psychiatric hospital, but he was acquitted because former Supreme Court Justice Kwon Soon Il went easy on him.” 2026-07-27 16:17:27
  • Seoul turns Han River into day-and-night summer destination
    Seoul turns Han River into day-and-night summer destination SEOUL, July 27 (AJP) - Seoul city will turn the Han River into a day-and-night summer destination from Aug. 1 to 16 with a festival featuring what the city calls the river's first synchronized surface drone show, overnight programs and expanded water sports. The 2026 Hangang Summer Festival will be held across nine Han River parks and nearby waterfront areas, offering 16 programs ranging from live performances and outdoor screenings to water recreation, the Seoul Metropolitan Government said Monday. One of the festival's headline events is the surface drone show. Some 25 autonomous surface drones will perform alongside live jazz and K-pop cover concerts during the Hangang Summer Music Picnic at Yanghwa Hangang Park on Aug. 1 and 2. The festival also expands overnight programming with activities designed to keep visitors at the river after dark. Programs include an overnight gathering featuring television drama and horror film screenings at Mangwon Hangang Park, silent DJ parties and yoga sessions using wireless headphones, and outdoor movie screenings beneath Han River bridges. Hands-on activities include a traditional tightrope performance at Jamsil Hangang Park's swimming pool, a homemade boat race and an overnight walking challenge of up to 42 kilometers marking its 10th anniversary. Water safety workshops and ecology programs will also be offered for children and families. The city is also expanding opportunities for visitors to experience the river through paddleboarding, kayaking, yachting and cruises. Participating operators will offer discounts of 10% to 50% on selected water leisure programs during the festival. Seoul officials advised visitors to use public transportation during the festival, saying heavy crowds are expected at Han River parks throughout the event. 2026-07-27 16:16:39
  • Yoon Suk Yeol Sentenced to Suspended Prison Term for Election Law Violations
    Yoon Suk Yeol Sentenced to Suspended Prison Term for Election Law Violations Yoon Suk Yeol, the former president of South Korea, was sentenced to a suspended prison term for violating election laws during his candidacy. The Seoul Central District Court's Criminal Division 21, led by Judge Jo Soon-pyo, sentenced Yoon to 1 year and 6 months in prison, with a 3-year suspension on July 27. The court found all charges brought by the special prosecutor's team, led by Kim Geon-hee, to be guilty. The court determined that Yoon's statement during a December 2021 Kwanhun Club debate, claiming he had not introduced lawyer Lee Nam-seok to former Yongsan Tax Office chief Yoon Woo-jin, constituted the dissemination of false information. Additionally, Yoon's remarks during a January 2022 interview at the launch of the Buddhist Leaders Forum, where he stated he had been introduced to Geon-jin Beopsa by party officials and had never met him with Kim Geon-hee, were also deemed false and guilty. The court explained that a prominent candidate disseminating false information in a public forum during the presidential election process undermined voters' ability to make informed decisions. If the ruling is upheld by the Supreme Court, the People Power Party will be required to return approximately 39.7 billion won, including election expenses, in accordance with election law. Following the verdict, Yoon's legal team expressed their intention to appeal, stating in a press release that they were very disappointed with the first-instance ruling and believed there were significant errors in the recognition of facts and the application of the law regarding the dissemination of false information under election law. They pledged to thoroughly contest the misinterpretation of facts and legal principles in the appellate court. 2026-07-27 16:16:00
  • Margin Trading Drops Sharply Amid Market Decline
    Margin Trading Drops Sharply Amid Market Decline Margin trading has significantly decreased. Analysts suggest that the recent market declines have heightened investor caution regarding short-term leveraged investments.According to the Korea Financial Investment Association, as of July 23, the amount of margin trading debt was recorded at 945.4 billion won, a decrease of 80.8 billion won from the previous trading day on July 22, when it stood at 1.0263 trillion won. This marks the first time margin debt has fallen below 1 trillion won since April 23, when it was 996.6 billion won. Compared to June 25, just before the recent market downturn began, margin debt has decreased by 1.1233 trillion won (54.4%) in just one month.On July 24, the margin debt slightly increased to 1.0321 trillion won.In the past month, the stock market has experienced significant fluctuations, leading investors to increase their cash holdings rather than engage in aggressive margin trading. The KOSPI index rose to 911.455 on June 22 but plummeted by 9.99% the following day. Subsequent declines included drops of 7.89% on July 2, 4.91% on July 7, 5.35% on July 8, 8.95% on July 13, 6.37% on July 16, 4.46% on July 20, and 5.72% on July 24, indicating increased volatility.However, the response from investors during this recent downturn has differed from that in March. In early March, the stock market faced significant volatility due to rising geopolitical tensions. The KOSPI fell by 7.24% on March 3 and 12.06% on March 4, dropping to the low 5,000s, but rebounded by 9.63% on March 5. At that time, the perception of excessive losses and a renewed interest in bargain buying led to a surge in margin trading, with debt reaching a peak of 2.1487 trillion won on March 5, which was 1.2033 trillion won (56.0%) higher than the amount recorded on July 23.Margin trading allows investors to buy stocks using borrowed funds from brokerage firms, with the obligation to pay for the shares by the settlement date. If investors fail to make the payment on time, the brokerage firm may forcibly liquidate the shares through a forced sale. While this can amplify investment potential in a rising market, it also carries the risk of rapid losses during periods of high volatility.The increased burden of forced liquidations has also contributed to the recent decline in margin debt. On July 9, out of 1.4322 trillion won in margin debt, 142.2 billion won was subject to forced liquidation, raising the proportion of forced sales to 10.2%. This high level continued with forced liquidation ratios of 4.6% on July 20 and 5.7% on July 21. However, as margin trading itself sharply decreased, the scale of forced liquidations also quickly diminished.On July 24, when the KOSPI fell by 5.72%, the margin debt was recorded at 1.0321 trillion won, only slightly higher than the previous day. The amount of forced liquidation was 7.488 billion won, accounting for just 0.8% of the margin debt. This suggests that many investors opted to remain cautious rather than pursue additional leveraged investments during the market downturn.A securities industry official stated, "In the past, many investors viewed market declines as opportunities for bargain buying, but recently, the heightened volatility has shifted the focus toward loss management rather than expectations of a rebound. The increased caution regarding forced liquidations has also likely contributed to the decrease in margin trading."* This article has been translated by AI. 2026-07-27 16:16:00
  • Conflict Peaks Ahead of Democratic Partys Delegate Voting
    Conflict Peaks Ahead of Democratic Party's Delegate Voting The Democratic Party of Korea is facing heightened internal conflict as it approaches the delegate voting for its convention scheduled for August. Candidates Kim Min-seok and Song Young-gil have been vocal about their dissatisfaction with Jeong Cheong-rae's leadership over the past year, while Jeong has repeatedly referenced the Shincheonji controversy in his defense.On July 27, the candidates continued their sharp exchanges, particularly as the voting for party delegates is set to begin on July 28, intensifying factional disputes.During a visit to Cheongju in North Chungcheong Province, Kim emphasized his suitability to end the conflict between the party and the government, appealing for support from party members. He stated at a meeting with party delegates, "We must end the clashes between the party and the government and break the ties with the anti-Myeong leadership. The anti-Myeong leadership cannot continue." He directly criticized Jeong, asserting that claims of Shincheonji's involvement leading the party to become unconstitutional are fallacious, likening it to typical rhetoric from the People Power Party.Song also held a press conference at the Chungnam Provincial Office, questioning Jeong's accountability for the losses in the June 3 local elections and the recent by-elections. He remarked, "While it may appear as a victory on paper, the prevailing sentiment is that it fell short of expectations. President Lee Jae-myung has repeatedly indicated differences in perception with Jeong, yet Jeong claims there are no issues with the party's internal conflicts." He predicted that if Jeong succeeds in securing re-election as party leader after the convention, it would lead to a lame-duck presidency for Lee.In contrast, Jeong has been actively engaging with party members, holding a talk concert in North Chungcheong Province and communicating through Facebook. He encouraged party members, stating, "Show the sentiment of Chungcheong starting tomorrow," while also urging them to judge the Shincheonji situation, which he claims is harming the party and its members.Meanwhile, during the Supreme Council meeting, tensions between the pro-Cheong and pro-Seok factions were evident. Pro-Seok member Hwang Myeong-seon expressed confidence that party members would choose a perfect partner to work alongside President Lee, emphasizing the need for the party leader to defend the president against political attacks. Another pro-Seok member, Kang Deuk-gu, criticized those who remain silent about doubts regarding the president's inevitable failures and the will for prosecutorial reform, insisting that the president's achievements should not be overshadowed by internal party politics.In response, pro-Cheong member Moon Jeong-bok demanded an immediate clarification from Kim regarding the allegations of Shincheonji's involvement, stating, "Party members are being labeled as Shincheonji followers, and the party is being accused of organizational interference by Shincheonji." Pro-Cheong member Park Gyu-hwan cautioned against labeling the party as anti-Lee, questioning whether those who have received endorsements from pro-Lee factions plan to establish separate factions after the convention.* This article has been translated by AI. 2026-07-27 16:16:00
  • CXMT Soars 465% on First Day of Trading, Becomes Chinas Top Market Cap
    CXMT Soars 465% on First Day of Trading, Becomes China's Top Market Cap China's largest DRAM manufacturer, CXMT (Changxin Memory Technologies), made its debut on the Shanghai Stock Exchange on July 27, 2026, and immediately became the top company by market capitalization in mainland China.CXMT (688825.SH) was listed on the STAR Market, issuing 6.688 billion new shares at an initial price of 8.66 yuan, raising 57.9 billion yuan (approximately $12.6 billion). If the overallotment option is fully exercised within a month, the total fundraising could reach up to 66.6 billion yuan (about $14.4 billion). Market analysts expect the overallotment option to be fully utilized.Shortly after opening, CXMT's stock price surged to 49.88 yuan. On the STAR Market, there are no restrictions on price fluctuations during the first five trading days. The stock reached an intraday high of 55.03 yuan before closing at 49.00 yuan, marking a 465.8% increase from the initial offering price.At the closing price, CXMT's market capitalization stood at 3.28 trillion yuan, surpassing the previous leader, Industrial and Commercial Bank of China (ICBC), which had a market cap of 2.76 trillion yuan, making CXMT the top company in mainland China.This IPO is the largest in Asia this year and the largest ever for a Chinese semiconductor company, ranking second only to the Agricultural Bank of China's $10 billion IPO in 2010. On its first day of trading, CXMT recorded a transaction volume of 141.2 billion yuan, the highest ever for a single stock in the Chinese market.CXMT Plans 27 Trillion Won Investment in HBMThrough this IPO, CXMT aims to raise up to 66.6 billion yuan. Additionally, the company is projected to report a net profit of 57 billion yuan for the first half of the year. Combining the IPO proceeds with the expected net profit, CXMT will have approximately 123.6 billion yuan in cash, equivalent to about 27 trillion won, most of which is expected to be invested in High Bandwidth Memory (HBM).In its prospectus, CXMT stated that the funds will be used to expand production capacity and enhance research and development. However, no specific investment plans were disclosed. Industry insiders believe that a significant portion of the R&D investment will focus on HBM, AI DRAM, and advanced packaging, as HBM is currently the most critical memory type needed in China.CXMT began developing HBM in 2023 and plans to start mass production of 4-layer HBM2 in 2024, with an aim to produce 8-layer HBM3 by the end of this year. According to Taiwanese IT publication DigiTimes, CXMT aims to produce 12-layer HBM3E next year.Technology Gap with SK Hynix Estimated at 4 Years, May NarrowSK Hynix has started mass production of HBM4 this year, while CXMT is preparing for HBM3 production, indicating a technology gap of about four years between the two companies. Analysts from Chinese securities firms believe that with substantial cash reserves, government support, and explosive demand from Chinese AI companies, CXMT's technological capabilities could advance significantly. There are even forecasts that the technology gap with SK Hynix could narrow to two years.Last year, CXMT recorded revenues of 61.7 billion yuan and a net profit of 7.1 billion yuan, marking its first annual profit since its establishment. In the first quarter of this year, the company reported revenues of 50.8 billion yuan and a remarkable net profit of 33 billion yuan, with expectations of reaching 57 billion yuan in net profit for the first half of the year. 2026-07-27 16:16:00