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  • Kakao Pay Insurance Extends Galaxy Smartphone Damage Coverage to Five Years
    Kakao Pay Insurance Extends Galaxy Smartphone Damage Coverage to Five Years Kakao Pay Insurance announced that it has extended the damage coverage period for Galaxy smartphones from three years to a maximum of five years. This change is aimed at addressing the rising prices of mobile phones and the lengthening replacement cycles. Previously, coverage ended after three years of use, but now customers can receive coverage for up to five years. To celebrate the launch of the Galaxy Z Flip 8 and Z Fold 8, Kakao Pay Insurance will offer a promotional first-month insurance premium of just 100 won from August 3 to August 18. The promotion applies to all models, including the new Galaxy devices. Customers using both carrier-subsidized and unlocked devices, as well as those on budget plans, can participate. Kakao Pay Insurance's mobile phone insurance allows subscribers to choose the number of repairs, ranging from two to five, and set their deductible between 10% and 40%. The premium varies based on the selected conditions. Choosing a 10% deductible allows for coverage of up to 90% of repair costs. The minimum deductible is 30,000 won, with coverage limits up to 5 million won based on the original price. Even if a repair payment is made, the total coverage amount is not deducted, allowing for repeated coverage within the set limits for each incident. A representative from Kakao Pay Insurance stated, “We have expanded the damage coverage period to ensure that customers who use their phones for a long time can receive the necessary protection. We will continue to introduce insurance services that reflect the usage environment and customer demand.”* This article has been translated by AI. 2026-07-27 09:44:00
  • Samsung opens Galaxy Z8 preorders as record Fold7 demand sets high bar
    Samsung opens Galaxy Z8 preorders as record Fold7 demand sets high bar SEOUL, July 27 (AJP) - Samsung Electronics will begin taking preorders in South Korea on Tuesday for its latest foldable smartphones, testing whether a broader lineup and storage incentives can sustain demand after last year’s record-breaking launch. Preorders for the Galaxy Z Fold8 Ultra, Galaxy Z Fold8 and Galaxy Z Flip8 will run from July 28 through Aug. 3, Samsung said Monday. Customers can receive and activate the devices from Aug. 4, ahead of their official domestic release on Aug. 7. The launch faces a high comparison base. Samsung sold 1.04 million Galaxy Z Fold7 and Flip7 devices during their weeklong domestic preorder period last year, the highest tally for any Galaxy foldable generation. That exceeded the 1.02 million units recorded by the Fold5 and Flip5 in 2023 and the 910,000 units booked by the Fold6 and Flip6 in 2024. The Fold7 accounted for 60 percent of last year’s Korean preorders, overtaking the Flip model for the first time since Samsung introduced its foldable lineup in 2019. The result represented a sharp shift from the previous generation, when the Fold’s share stood at about 40 percent. Whether Samsung can repeat that performance will be closely watched as the company raises prices and expands its lineup to three models. The Fold8 Ultra starts at 2.58 million won ($1,860) in South Korea, while the standard Fold8 begins at 2.28 million won and the Flip8 at 1.68 million won. Samsung is also facing intensifying competition from Chinese manufacturers and Apple’s expected entry into the foldable market. Counterpoint Research projects global foldable smartphone shipments will increase 21 percent in 2026, with Samsung expected to retain the largest share. To stimulate early demand, Samsung will offer buyers of 256-gigabyte models a free upgrade to 512GB. Customers purchasing 512GB versions of the Fold8 Ultra or Fold8 can upgrade to the 1-terabyte model for 310,700 won, about half the standard price difference. The company will also extend its device-return subscription program to the new foldables. Customers enrolled in the program can receive up to 50 percent of the original device value when returning the handset after a specified period, depending on the subscription plan and device condition. Samsung will simultaneously open preorders for the Galaxy Watch Ultra2 and Galaxy Watch9. The Watch Ultra2 is priced at 969,100 won, while the Watch9 lineup starts at 499,000 won. Both will also be released domestically on Aug. 7. 2026-07-27 09:41:02
  • Sejong Law Firm Launches First One-Stop Director Appointment Advisory Service in Korea
    Sejong Law Firm Launches First 'One-Stop Director Appointment Advisory Service' in Korea Sejong Law Firm, led by Managing Partner Oh Jong-han, announced on July 27 that it is offering Korea's first 'one-stop director appointment advisory service' to support the entire process of appointing directors. This initiative comes as institutional investors and voting advisory firms increasingly prioritize candidates' expertise, independence, and potential conflicts of interest in their voting decisions.The criteria for appointing directors are rapidly evolving. This year, during the regular shareholders' meeting, a candidate recommended by an activist fund was elected as an independent director after a fierce vote, highlighting the growing importance of objective qualifications such as individual expertise and history of harming corporate value in the appointment process.In the past, the recommending party and the candidate's experience were major considerations. Now, objectively verifying a candidate's qualifications has become a critical governance task for companies.This shift aligns with recent legislative changes that have strengthened demands for the independence and accountability of boards of directors. Additionally, a bill has been proposed in the National Assembly to require more thorough disclosures regarding the independence of director and auditor candidates, their relationships with major shareholders, and any concurrent positions held in other companies.As a result, the process of objectively reviewing the qualifications and independence of director candidates is expected to become a key element in forming responsible boards and securing investor trust.In many countries, such reviews have already become standard practice in the director appointment process. Global voting advisory firms like ISS and Glass Lewis use candidates' independence, potential conflicts of interest, and history of harming corporate value as primary evaluation criteria. Domestic voting advisory firms are also continuously enhancing their evaluation systems to reflect global standards. Companies are increasingly required to establish objective and transparent review processes from the outset of director appointments and to reasonably explain the basis for their decisions to shareholders and investors.To proactively respond to these market changes, Sejong has developed a standardized director appointment advisory service based on its experience advising on Korea's first public director candidate verification process this year. This service focuses on helping companies explain the objectivity and rationality of their candidate selections to institutional investors and voting advisory firms, going beyond simple candidate evaluations.Sejong's 'Director Appointment Advisory Service' aims not only to evaluate candidates but also to help companies preemptively assess legal and reputational risks that may arise during the director appointment process, enabling them to make objective and transparent decisions.The review results will be provided in the form of a qualification verification report issued by the Corporate Governance Research Institute, and a qualification confirmation letter can also be issued if necessary. This report can be used as reference material for the executive candidate recommendation committee's deliberations, as well as for explanations to institutional investors and voting advisory firms. Through this, companies can enhance the objectivity and transparency of their director appointment processes and more effectively explain the rationality and validity of their decisions to stakeholders.Specifically, Sejong will provide a comprehensive review of candidates under consideration for director appointments, including: examination of legal disqualifications under relevant laws such as the Commercial Act and Capital Markets Act; analysis of relationships with major shareholders and related parties to assess independence; analysis of past board attendance rates and voting records; evaluation of the candidate's ability to perform duties based on concurrent positions; analysis of any history of harming corporate value; and risk analysis considering the main evaluation criteria of institutional investors and voting advisory firms. Companies can use this information to objectively assess the qualifications of director candidates and proactively manage any legal and reputational risks that may arise during the appointment process.Ah Hyoseop, head of Sejong's Corporate Governance Research Institute, stated, "The process of appointing directors has evolved into a crucial decision-making process that influences sustainable growth and shareholder trust, going beyond merely finding suitable candidates. Companies must now be able to objectively explain 'why this candidate is qualified' rather than 'who recommended them,' making candidate verification an essential corporate governance procedure rather than an option."Lee Dong-gun, managing partner of Sejong and head of the Corporate Governance Strategy Center and Corporate Governance Research Institute, added, "Sejong will provide integrated legal advice on corporate governance, including director appointments, board composition and operation, shareholder rights responses, corporate value enhancement, and governance improvements, to help companies effectively respond to increasing legal and regulatory demands and heightened investor expectations. We plan to continuously enhance our related services to remain a trusted partner throughout the entire process of corporate board operations."Meanwhile, the Corporate Governance Research Institute under Sejong's Corporate Governance Strategy Center collaborates closely with experts in corporate governance and management disputes, including Ah Hyoseop, Lee Dong-gun, and Lee Sook-mi, to provide legal services covering the entire spectrum of corporate governance, including director candidate qualification verification, shareholder return and IR strategy development, corporate value enhancement planning and related disclosures, major shareholder succession strategy advice, board operation modernization, and executive compensation policy formulation.Sejong Law Firm, established in 1983, is one of Korea's leading large law firms, providing optimized legal services to corporate and individual clients across various fields, including M&A, finance, litigation, tax, intellectual property, and labor, with a team of approximately 700 experts.* This article has been translated by AI. 2026-07-27 09:40:00
  • KT&G to Restore 150,000 Square Meters of Forest Damaged by Wildfires
    KT&G to Restore 150,000 Square Meters of Forest Damaged by Wildfires KT&G is partnering with the Korea Forest Service and the Asia Forest Cooperation Organization (AFoCO) to restore areas damaged by wildfires in South Korea. On July 27, KT&G announced that it signed a memorandum of understanding (MOU) with the Forest Service and AFoCO on July 24 to enhance cooperation in domestic forest restoration and environmental, social, and governance (ESG) management. Under the agreement, KT&G will plant tree species suitable for the local ecosystem to restore vegetation in wildfire-affected areas. Over the next five years, the company plans to plant a total of 75,000 trees, covering an area of 150,000 square meters. After planting, KT&G will also conduct monitoring and maintenance to ensure the stability of the reforestation efforts. The company will also implement the 'Imaginary Forest' project, which involves KT&G employees directly participating in forest creation alongside local communities as part of its environmental social contribution program. In November 2024, KT&G established the 'KT&G Imaginary Forest' in Uljin, Gyeongbuk, an area that suffered significant damage from a major wildfire in 2022. The company has previously conducted similar forest creation projects in Daegwallyeong, Gangwon, and Bonghwa, Gyeongbuk, continuing its forest restoration activities. KT&G is also expanding its collaboration with AFoCO. In December 2024, the two organizations signed an MOU to promote sustainable forest management and biodiversity conservation. They agreed to jointly pursue projects focused on forest conservation, restoration, carbon absorption, and biodiversity protection. Through this agreement, KT&G aims to establish a public-private partnership model for forest restoration involving corporations, government agencies, and international organizations. Lee Sang-hak, Senior Vice President of KT&G, stated, “We will continue to strive to contribute to the sustainable development of domestic forest ecosystems and the practical implementation of ESG management.” * This article has been translated by AI. 2026-07-27 09:40:00
  • FSS flags settlement-date pitfall for overseas stock tax breaks
    FSS flags settlement-date pitfall for overseas stock tax breaks SEOUL, July 27 (AJP) —South Korean investors may lose part of their tax breaks on overseas stock sales if transactions settle after program deadlines, even when the trades themselves were executed on time, the Financial Supervisory Service (FSS) warned Monday. The regular reminded that capital gains tax deductions under the Repatriation Individual Account (RIA) program are determined by the settlement date rather than the trade date, meaning investors who sell too close to the deadline could receive a smaller tax benefit than expected. The caveat was issued amid rising demand. Introduced to lure funds from overseas stock investments back into South Korea's capital market, the program provides tax incentives to eligible investors who reinvest their proceeds in domestic assets. As of the end of June, cumulative RIA accounts had reached 313,594, with assets under management totaling 2.656 trillion won ($1.9 billion), according to the regulator. The program offers tax incentives to investors who sell overseas stocks acquired by Dec. 23, 2025, and reinvest the proceeds in South Korean equities. Investors whose transactions settle by the end of May receive a 100 percent deduction on eligible capital gains, while the deduction falls to 80 percent for settlements completed by the end of July and 50 percent by the end of December. The difference can be significant. For an investor realizing a 20 million won ($14,400) capital gain, the tax burden rises from about 330,000 won if eligible for the 80 percent deduction to about 1.65 million won once the deduction falls to 50 percent. To illustrate the risk, the FSS cited a complaint from an investor who sold overseas stocks on May 29 expecting to qualify for the full 100 percent deduction before the May 31 deadline. However, because the transaction was settled on June 2, the investor qualified for only an 80 percent deduction. The regulator also reminded investors that the tax benefit is conditional. Proceeds from overseas stock sales must be reinvested through the RIA account in eligible domestic assets and held for at least one year. Eligible investments are limited to locally listed stocks, domestic equity funds including exchange-traded funds, and cash deposits held within the account. Net purchases of overseas stocks through accounts outside the RIA during the holding period may also reduce the available deduction. It also issued guidance on other investment products. It cautioned investors considering Individual Management Account (IMA) products that early termination may be restricted and that charges can extend beyond basic management fees to include sales commissions, administrative fees and performance fees. Separately, the regulator warned that investors using bank-managed money trust products investing in ETFs may incur additional trust fees ranging from 0.03 percent to 2.0 percent, as well as early redemption fees of up to 1.0 percent, potentially leaving actual returns below advertised target yields. 2026-07-27 09:36:58
  • Volkswagen Confident in Recovery as European EV Demand Rises
    Volkswagen Confident in Recovery as European EV Demand Rises Volkswagen Group expressed confidence in improving its performance in the second half of the year, driven by a recovery in European electric vehicle (BEV) demand and the impact of new car launches. The company anticipates that cost-cutting measures and structural reforms will also begin to show significant results.According to Volkswagen Group, its revenue for the first half of the year was €158.1 billion, nearly unchanged from the same period last year (-0.2%). However, operating profit fell to €5.9 billion, a decrease of 11.6% compared to the previous year, with an operating margin of 3.8%.The decline in performance was influenced by reduced sales in the Chinese market and production disruptions of electric vehicles in the United States. Global vehicle sales for Volkswagen Group in the first half of the year totaled 4 million units, an 8.4% decrease from the previous year, with sales in China dropping by 31.6%. In the U.S., the suspension of ID.4 electric vehicle production resulted in costs of approximately €500 million, negatively impacting profitability.However, the European market is showing signs of recovery. Orders in Europe have increased by about 12% compared to the end of last year, with orders for pure electric vehicles rising by more than 50%, now accounting for over 30% of total orders.The impact of new car launches is also expected to be significant. The new Electric Urban Car Family, led by the Volkswagen ID. Polo, secured over 70,000 orders within its first month of release.Volkswagen Group noted that rigorous cost-cutting and structural reforms are yielding positive results. The automotive division's cash flow has improved from a €1.4 billion loss in the first half of last year to a €3.2 billion profit this year.Oliver Blume, CEO of Volkswagen Group, stated, "The structural reforms implemented over the past three years are yielding visible results. Excluding China, global vehicle deliveries are increasing, and electric vehicle orders are expanding, so we expect solid performance this year despite a challenging business environment."Meanwhile, the group has revised its revenue outlook for the year from a previous estimate of a 0-3% increase to a forecast of a -3% to 0% change. The operating margin forecast remains unchanged at 4.0-5.5%. Volkswagen cited international trade regulations, geopolitical risks, and fluctuations in raw material prices as key variables. 2026-07-27 09:36:00
  • President Lee Jae-myung Addresses Cost of Living Concerns During Brazil Visit
    President Lee Jae-myung Addresses Cost of Living Concerns During Brazil Visit 브라질을 국빈 방문 중인 이재명 대통령이 도착 당일 밤 화상 수석보좌관회의를 주재하고 국제유가 불안에 따른 국내 물가 대책을 집중적으로 점검했다. 이 대통령은 26일(현지시간) 오후 9시 브라질리아 현지에서 화상으로 회의를 열어 “중동 지역 상황이 다시 불안정해지면서 국제유가가 출렁이고 있다”며 “유가 변동성이 당분간 이어질 가능성이 큰 만큼 국내 물가에 미칠 영향을 최소화하기 위한 선제적 노력을 빠르게 기울여야 한다”고 밝혔다. 이 대통령이 순방 중 화상으로 수보회의를 주재한 것은 지난 6월 14일 이탈리아 국빈 방문 때 이후 두 번째다. 이 대통령은 “유가 불안이 확실하게 해소될 시점까지 석유 최고가격제를 지속하고 유류세 인하와 같은 정책 수단도 최대한 유지해 달라”며 “상황이 악화하면 민생의 어려움을 완화하기 위한 추가 방안도 적극 검토해야 한다”고 지시했다. 이 대통령은 유가 상승에 직접적인 영향을 받는 업종과 계층에 대한 맞춤형 지원책을 주문했다. 이 대통령은 “화물차와 건설기계 운전자, 농어민, 이동노동자들의 부담을 덜기 위한 대책도 마련해야 한다”고 강조했다. 시장 교란 행위에 대해서는 강력한 단속을 당부했다. 이 대통령은 “모두가 힘든 시기를 악용해 불법적인 돈벌이에 나서는 행태가 있다”며 “이번 중동 전쟁을 틈타 국내 정유사들이 수십조원 규모의 담합 행위를 한 것이 수사 결과 드러났다”고 말했다. 그러면서 “기름뿐만 아니라 다른 핵심 민생 품목에서도 매점매석이나 담합 행위가 발생하지 않도록 관계 당국이 시장 교란 행위 단속에 만전을 기해 달라”고 주문했다. 이 대통령은 본격적인 휴가철을 맞아 생활물가와 안전 대책을 꼼꼼하게 살필 것을 지시했다. 이 대통령은 “장마가 끝나고 이번 주부터 본격적인 무더위와 함께 휴가철이 시작된다”며 “국민들이 가족과 함께 편안한 시간을 보낼 수 있도록 정부는 물가와 안전 등 민생대책 전반을 세심하게 점검해 달라”고 말했다. 이 대통령은 최근 경제지표가 개선되고 있지만 성장의 성과가 국민 생활 전반으로 확산하지 못하고 있다는 점도 지적했다. 이 대통령은 “1분기에 이어 2분기 성장률도 3.7%를 기록했고 실질국내총소득 증가율도 38년 만에 최고치인 15.6%를 나타냈다”면서도 “청년고용 부진과 중소기업의 높은 대출 연체율 같은 어두운 그림자가 있다”고 진단했다. 이어 “윗목과 아랫목이 고루 따뜻해야 방 안의 온도가 오래 유지되는 것처럼 지속 가능한 경제 발전을 위해서는 성장의 온기가 널리 퍼져야 한다”며 “풍부한 유동성이 골목상권과 중소기업으로 흐르도록 재정·조세·금융을 총망라한 정책 집행에 속도를 내달라”고 당부했다. 또한 이 대통령은 미국 방문의 핵심 성과인 샌프란시스코 인공지능(AI) 선언의 후속 대책을 주문했다. 특히 “이번 샌프란시스코 인공지능 선언은 대한민국이 인공지능 시대를 이끄는 대체불가한 선도자로 도약하겠다는 국가적 출사표”라고 평가했다. 이 대통령은 “초대규모 공급·투자 협력 등을 통해 글로벌 빅테크와의 파트너십을 인공지능 동맹 수준으로 격상했다”며 “세계적인 벤처캐피털과의 협력 기반도 더욱 강화하기로 했다”고 말했다. 이 대통령은 “정부는 이런 성과들이 우리 경제의 더 큰 도약과 국민 삶의 실질적인 개선으로 이어질 수 있도록 후속 조치에 만전을 기해 달라”며 “인공지능을 넘어 여타 첨단산업과 문화 분야에서도 세계를 선도하는 데 총력을 다할 것”이라고 강조했다. 정부 출범 이후 첫 남미 순방의 의미에 대해서는 “국제질서가 급속하게 재편되는 상황에서 외교 네트워크를 다변화하고 다층화하는 노력은 국가의 안정적인 발전을 위해 필수적”이라며 “남미는 엄청난 인구와 풍부한 자원을 갖춘 곳으로 외교의 지평을 한층 더 넓히는 데 가장 필요한 지역 중 하나”라고 강조했다. 이 대통령은 “이번 남미 순방을 통해 글로벌 사우스 외교를 더욱 강화하고 글로벌 핵심 국가로서 대한민국의 위상과 역할을 더욱 단단하게 다지겠다”고 밝혔다. 2026-07-27 09:36:00
  • Korean Partys Ethics Committee Faces Challenges After Resignation
    Korean Party's Ethics Committee Faces Challenges After Resignation One member of the People Power Party's Central Ethics Committee has resigned, reducing the committee from seven to five members, as announced on July 27.According to the People Power Party, the ethics committee is scheduled to hold a meeting at 2 p.m. to continue reviewing over 60 disciplinary cases submitted before and after the June 3 local elections. However, Vice Chair Woo Jong-hwan and another committee member have expressed their intention not to attend, raising concerns about the meeting's ability to proceed normally.The ethics committee can make disciplinary decisions with a majority of members present and a majority vote among those attending. With the current five-member structure, it appears that disciplinary actions could commence with just three members present. However, this could lead to questions regarding the legitimacy of the committee's decisions, making it more likely that only the review of disciplinary cases will continue.Key figures under consideration for disciplinary action include Representative Jo Kyung-tae, who caused controversy during the election of the National Assembly vice speaker, and members of the pro-Han Dong-hoon faction who supported independent lawmaker Han Dong-hoon during the local elections.Additionally, discussions may arise regarding disciplinary measures for Representative Kwon Young-jin, who recently caused a stir by confronting floor leader Jeong Jeom-sik during the allocation of National Assembly committee positions.* This article has been translated by AI. 2026-07-27 09:36:00
  • U.S. Defense Department Reports 18 Deaths in Iran Conflict, Separates Casualty Data
    U.S. Defense Department Reports 18 Deaths in Iran Conflict, Separates Casualty Data The U.S. Department of Defense has reported military casualties from the Iran conflict in two separate categories. The combined total of U.S. military casualties is 18 deaths and 624 injuries.According to reports from CNN and other outlets on the 26th, the Defense Department created a new category for 'overseas operations' to separately reflect casualties incurred in engagements with Iran since July 7.The previously reported death toll under the 'Operation Epic Fury' category remains at 14. However, four recently omitted deaths have been included in the new category, along with over 140 additional injuries.The Defense Department has not provided a total count combining both categories and has not explained the rationale behind the new classification or its specific criteria.Earlier, the Defense Department's website showed a reduction in U.S. military deaths from 18 to 14, leading to controversy over the apparent downplaying of casualties. The department attributed this to a 'temporary data error,' but did not immediately correct the figures.There is ongoing debate regarding the start date of the new category, set for July 7, which coincides with the day the Trump administration officially notified Congress of a resumption of military actions against Iran.The Trump administration maintains that the previous ceasefire period has ended, and a new period began on July 7. The U.S. War Powers Act stipulates that the president must conclude military operations within 60 days unless Congress grants approval.Some lawmakers have criticized the administration for attempting to divide a single conflict into two periods to evade congressional approval. Twelve Democratic senators from the Senate Armed Services Committee have demanded that Defense Secretary Pete Hegseth clarify the reasons for the changes in casualty reporting and the overall scale of the losses.* This article has been translated by AI. 2026-07-27 09:36:00
  • An Byeong-hun Finishes 11th at LIV Golf UK Event, Missing Top 10 by One Stroke
    An Byeong-hun Finishes 11th at LIV Golf UK Event, Missing Top 10 by One Stroke An Byeong-hun narrowly missed his second top-10 finish of the LIV Golf season at the UK event.On July 27, An played the final round of the LIV Golf UK tournament at the JCB Golf and Country Club in England, finishing with an even-par 72, which included one birdie and one bogey.With a total score of 11-under 277, An placed 11th overall.Starting the final round tied for 7th, An made his first birdie on the 6th hole (par 5) but could not capitalize further after a bogey on the 15th hole (par 4). He ultimately fell short of the top 10 by just one stroke.This result marked An's second highest finish since moving to LIV Golf, following a tied 9th place at the Riyadh tournament in February.Lucas Herbert of Australia claimed the victory, finishing with a total score of 30-under 258, six strokes ahead of second-place Tyrrell Hatton of England, who scored 24-under 264. This win marked Herbert's second of the season, following his victory at the Virginia tournament in May.Herbert earned a winner's prize of $4 million and also led his team, 'Ripper GC,' to a team victory with a total score of 52-under par, adding $750,000 from the team prize for a total of $4.75 million.Players from the 'Korean Golf Club,' led by An Byeong-hun, struggled in the tournament. Song Young-han finished tied for 31st with a total score of 2-under 286, Kim Min-kyu placed tied for 47th at 4-over 292, and Moon Do-yeop ended tied for 53rd with 8-over 296. The team finished 11th with a total score of 1-under par.* This article has been translated by AI. 2026-07-27 09:32:00