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Lee inspects military transport aircraft in Brazil, kicking off South American tour SEOUL, July 27 (AJP) - President Lee Jae Myung arrived in Brazil on Sunday for the first leg of his three-nation South American tour, which will also take him to Chile and Argentina later this week. After landing at Brasília International Airport, Lee headed to an air force base to inspect a C-390 military transport aircraft manufactured by Brazilian aerospace company Embraer, which South Korea is set to acquire. There, he met South Korean Air Force personnel including pilots, loadmasters and maintenance specialists who have been in Brazil for about four months undergoing training ahead of the aircraft's delivery. Lee then boarded the aircraft and toured the cockpit, cargo compartment and onboard facilities as Brazilian officials briefed him on its capabilities and operational features. They explained that the C-390 with a maximum payload capacity of 26 tons can be modified in about 60 to 90 minutes to conduct a wide range of missions including troop and cargo transport, humanitarian assistance, disaster relief and aerial firefighting. They added that South Korea would become the first Asian operator of the C-390 and described Seoul as Brazil's most important defense partner in the region. Calling it "the first step in defense cooperation with Brazil," Lee said the procurement was significant and expressed hope that the two countries would further expand defense cooperation in the years ahead. South Korea's purchase of three C-390 aircraft is part of an airlift modernization program worth 883 billion won that runs from 2022 to 2028. The contract was finalized in December 2023, with the first aircraft scheduled for delivery in December and the remaining two expected to arrive by the end of next year. The C-390 was selected for its comparable capabilities to those of the U.S.-built C-130J, along with lower acquisition costs and more favorable industrial cooperation arrangements. The procurement program also includes participation by South Korean small and medium-sized enterprises in manufacturing key aircraft components and providing maintenance services. Seoul hopes the partnership will expand to other areas of defense cooperation. Lee's state visit to Brazil runs through Wednesday and includes a summit with Brazilian President Luiz Inácio Lula da Silva in Brasília, as well as a business roundtable in São Paulo. He will then travel to Chile and Argentina to deepen trade, investment and strategic cooperation across the resource-rich region. 2026-07-27 09:02:55 -
Hyundai Glovis Secures Battery Transport Contract in China, Expanding Global Logistics Influence Hyundai Glovis is increasing its influence in the Chinese logistics market by securing a new transport contract with a leading Chinese battery company.On July 27, Hyundai Glovis announced that it has signed a transport contract with a prominent battery manufacturer in China. Under the agreement, Hyundai Glovis will transport electric vehicle batteries produced by the Chinese company from the southern coastal region of China, known as Huanan, to factories of global automakers located in Hungary, Spain, and Italy.This contract allows Hyundai Glovis to expand its logistics operations in China, covering a range of products from batteries to semi-assembled components (KD) and finished vehicles, thereby strengthening its global supply chain business targeting Chinese companies.Previously, Hyundai Glovis had also secured transport contracts for semi-assembled automotive components (KD) and press factory equipment destined for Eastern European factories of major Chinese electric vehicle manufacturers.Since the first half of this year, Hyundai Glovis has been transporting finished vehicle parts and press factory equipment from factories in the eastern region of China to Slovenia and Croatia via maritime transport, followed by land transport to the respective factories. The eastern region is a key hub for advanced manufacturing companies in China, including those in the electric vehicle and semiconductor sectors.Hyundai Glovis is implementing an 'End-to-End' logistics service, taking full responsibility for the entire process from Chinese factories to Eastern European plants.The company is also expanding its finished vehicle logistics business. After receiving finished vehicles produced in China, Hyundai Glovis conducts quality inspections, disassembles and repackages them, and loads them into containers for transport to Central Asia, including Kazakhstan and Uzbekistan, utilizing the China-Europe Railway Express (TCR).As a result, the volume of finished vehicles transported from China using Pure Car and Truck Carrier (PCTC) has been on the rise. The volume of finished vehicles transported from China via PCTC increased by 93%, from approximately 260,000 units in 2023 to about 510,000 units last year.A Hyundai Glovis official stated, "Due to contractual regulations with our clients, we cannot disclose specific details regarding transport volumes or freight rates, but we are actively pursuing contracts with Chinese companies to secure more business."Meanwhile, Hyundai Glovis reported a second-quarter revenue of 8.7054 trillion won, a 15.8% increase compared to the same period last year. However, operating profit fell by 8.1% to 495 billion won due to rising fuel costs stemming from geopolitical risks in the Middle East.* This article has been translated by AI. 2026-07-27 09:00:00 -
Jung Jeom-sik Calls for Order in Party Following Altercation Jung Jeom-sik, the floor leader of the People Power Party, stated on July 27 that the party must restore its dignity and order following an incident where lawmaker Kwon Young-jin was involved in a physical altercation during a protest over committee assignments.Speaking to reporters at the National Assembly, Jung expressed regret, saying, "I sincerely apologize to the public and party members for the unpleasant incident last week." He emphasized that the issue was not just a personal matter but a concern for the People Power Party, a representative conservative party.Jung pledged to ensure that such incidents do not happen again, stating, "I will fulfill my role as floor leader to the best of my ability." He added, "I will put aside past grievances and focus on my responsibilities to improve the lives of the people and normalize South Korea."Previously, Kwon expressed remorse over the incident, but there are calls within the party for a public apology and disciplinary action during a general meeting of lawmakers.* This article has been translated by AI. 2026-07-27 09:00:00
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Coinone and Korea Investment & Securities Launch Collaboration for Stock Investment Service Coinone and Korea Investment & Securities have initiated a collaboration to expand customer access to financial platforms.On July 27, Coinone announced the addition of a new tab on its app's main screen that directs users to the Korea Investment & Securities Web Trading System (WTS). This marks the first collaboration between the two companies since Korea Investment & Securities made a strategic equity investment in Coinone in May.With this update, Coinone users can now access the 'Stock Investment' tab on the app's main screen, which links directly to the Korea Investment & Securities service page. This page provides real-time information on popular domestic stocks, allowing users to select their interests. After verifying their identity through Naver, users can view detailed information and trade stocks via the Korea Investment & Securities WTS.Users without a Korea Investment & Securities account can open one through a separate page to access the services.Coinone expects this collaboration to enhance accessibility for investors who engage in both virtual asset and stock trading.Cha Myung-hoon, CEO of Coinone, stated, "We launched this first collaboration with Korea Investment & Securities in response to the growing number of investors diversifying their asset allocation by engaging in both virtual assets and stock trading. Given the commonalities in customer bases between virtual asset exchanges and securities firms, we plan to further expand our collaboration with Korea Investment & Securities in the future."* This article has been translated by AI. 2026-07-27 08:56:00
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Broadcaster Faces Backlash Over Apartment Purchase Video Jo Soo-bin, a broadcaster for a comprehensive programming channel, faced criticism after a video showcasing the apartment move-in process of a junior colleague in Banpo was labeled as an unrealistic portrayal of financial technology, leading to its eventual deletion.On July 26, Jo Soo-bin TV released a video titled "A New Apartment in Banpo Bought with Savings." The video featured Jo visiting her junior colleague's home and inquiring about the process of moving into the new apartment.In the video, Jo stated, "The salary of a broadcaster isn't that high," and asked, "You were dual-income, right? Was there any helpful method to buy the Banpo new construction move-in rights in a short time?"The junior colleague replied, "I saved up," and when Jo inquired about stock investments or cryptocurrencies, the response was, "I didn't do that." However, shortly after the video was released, viewers pointed out that the funding process was not realistically explained.One viewer commented, "Even conservatively estimating the purchase price at 1.6 billion won, a down payment of 160 million won and at least 900 to 1 billion won in additional capital would have been necessary. Considering acquisition taxes, brokerage fees, and additional reconstruction costs, it would have required around 1.2 billion won. It's hard to believe that this was possible solely through savings."They added, "There must have been husband’s income, existing assets, loans, jeonse deposits, or parental support for the numbers to add up. I'm more curious about how the initial capital was secured than the claim of 'buying with savings.'"In response, Jo Soo-bin commented, "We were dual-income, and I have worked for a long time. I invested in index funds before regulations tightened and minimized living costs. I did receive help from my parents, but it wasn't to an extraordinary level."However, this explanation only fueled further controversy.While the junior colleague stated in the video that she had not invested in stocks, Jo's comment about having invested in index funds raised inconsistencies.Subsequently, Jo modified her comment, stating, "I invested in stocks while buying a house and repaying loans simultaneously, and it wasn't just simple index investing." She added, "I worked with a capable husband, and it was possible before housing prices skyrocketed. We lived extremely frugally, and my husband took on difficult jobs to build our assets. Nowadays, it seems difficult to buy a house, and people have lost their sense of ease." This content continued to attract criticism.Following the backlash, the channel's producer issued a separate apology.The producer stated, "In focusing on the housewarming concept, we failed to adequately convey the values and context we intended. We wanted to showcase the guest's diligent life and investment philosophy, but it was miscommunicated during editing."However, viewers questioned, "Why is the producer apologizing instead of the guest? The issue was not the editing but the explanation."As the controversy persisted, the video was ultimately deleted.Online reactions included comments like, "If they had explained parental support and the actual funding structure from the beginning, no one would have complained," and "The thumbnail said 'buying with savings,' but the core source of funds was never revealed. Emphasizing savings while later adding investment and parental support is confusing," and "If you buy a house with borrowed money, paying off the loan is already tough, so the explanation of also investing is even harder to understand," and "Deleting it only erodes trust further." 2026-07-27 08:56:00
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iM Securities Raises Target Price for Hana Financial Group Amid Strong Earnings iM Securities announced on July 27 that it has raised its target price for Hana Financial Group from 150,000 won to 153,000 won, citing the company's solid earnings despite provisions for bad debts and foreign exchange burdens, as well as expectations for increased shareholder returns. The investment recommendation remains a 'buy.'Research analyst Seol Yong-jin stated, "In the second quarter, the net profit attributable to shareholders was 1.1928 trillion won, a 1.7% increase compared to the same period last year, aligning with estimates. Despite the impact of rising exchange rates and significant bad debt provisions, the company demonstrated stable earnings." He added, "The net interest margin (NIM) improved for both the group and the bank due to rising market interest rates, and both household and corporate loans showed solid growth." Furthermore, he noted, "Non-interest income saw a significant increase, particularly in the bank and securities asset management sectors, driven by higher commission income. In the second half of the year, considering the current exchange rate levels, we expect further earnings improvement from non-monetary foreign exchange gains and reversals of provisions for equity-linked securities (ELS)." Seol also mentioned, "The group's common equity tier 1 (CET1) capital ratio has maintained its stability despite the impact of exchange rates, and the company announced a share buyback and cancellation plan worth approximately 250 billion won for the second half of the year, with additional buyback announcements expected during the third quarter earnings release." Additionally, he stated, "With a new value-up policy, the company aims to maintain a target return on equity (ROE) of 12%, a CET1 ratio of over 13%, and a total shareholder return rate of over 50%. Dividends are expected to increase by 10% annually, with a long-term dividend payout ratio target of 40%." * This article has been translated by AI. 2026-07-27 08:52:00
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POSCO International Completes Trade Finance Technology Validation Using Blockchain and AI POSCO International has completed a proof of concept (PoC) with LG CNS to apply blockchain and artificial intelligence (AI) technologies in real global trading environments for trade finance infrastructure. The initiative aims to enhance efficiency in transactions and settlements with overseas subsidiaries and accelerate the digital transformation of trade operations.According to POSCO International, the validation was based on actual transaction data from the company and system design and technology verification from LG CNS. The two companies confirmed the feasibility of technology applications in three areas: sharing transaction status based on a shared ledger, tokenization of receivables as real-world assets (RWA), and automation of trade operations using AI agents.By utilizing a blockchain shared ledger, they implemented a structure for real-time sharing of transaction information among headquarters, overseas subsidiaries, and trading partners. This reduced discrepancies and repetitive verification tasks that arose from previously separate management by country and corporation, thereby increasing the efficiency of contract and settlement processes.In the area of receivables RWA tokenization, they validated a structure for digitizing actual trade receivables for transfer, settlement, and management. They also confirmed control functions necessary for inter-company transactions, such as customer verification (KYC), anti-money laundering (AML), and permission-based asset management, using the blockchain network 'Injective,' which is specialized for corporate finance.Additionally, the application of AI agents in reviewing letters of credit (LC) and trade documents can help prevent human errors such as document inaccuracies or missing clauses, and reduce variations in work quality based on the experience level of personnel.POSCO International stated, "Through this technology validation, we plan to detail pilot operation plans focusing on areas where operational efficiency has been confirmed in the second half of this year."* This article has been translated by AI. 2026-07-27 08:48:00
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Hanjin Group Airlines Unite to Donate Voices for Children's Audiobooks Korean Air announced on July 27 that it held a voice donation campaign called 'Better Tomorrow Studio' at its headquarters in Gangseo-gu on July 24. Employees from five airlines under the Hanjin Group, including Korean Air, participated in the initiative. This year, Jin Air, Air Busan, and Air Seoul employees joined in to enhance the effort. Notably, the social contribution activity saw voluntary support from employees eager to donate their voices. Among them were cabin crew members with experience as in-flight announcement trainers, announcers, and reporters, as well as many general staff. For the English book recordings, participants were selected based on their proficiency in English to ensure effective communication. After receiving training from professional voice actors, they rehearsed and recorded their assigned portions of the storybooks. The audiobooks produced include six Korean fairy tales and two English fairy tales, totaling eight titles. The selection of books allows children to indirectly experience travel and culture, reflecting the nature of the airline. This year, English audiobooks were added to assist with language learning. The completed audiobooks, along with reading assistance devices, will be distributed to children from underprivileged backgrounds, along with 400 storybooks (50 sets in total) that are similar to the audiobooks. One cabin crew member from Korean Air stated, "Knowing that my voice will reach children through the audiobooks made me read each part with more care. I hope that children who usually have difficulty accessing books can discover a new world through the audiobooks we created." Meanwhile, Korean Air is set to merge with Asiana Airlines in December. Following this, Jin Air, Air Busan, and Air Seoul aim to transform into a unified low-cost carrier by the first quarter of next year.* This article has been translated by AI. 2026-07-27 08:48:00
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Hanwha General Insurance Partners with Women Entrepreneurs Association to Support Female Businesses 한화손해보험이 한국여성경제인협회(여경협)와 손잡고 국내 '펨테크'(여성 건강기술) 산업 육성에 나선다. 여성 특화 보험상품 개발부터 유망 스타트업 발굴 등에 협력하며 여성 웰니스 시장 선점에 속도를 내는 모습이다.한화손보는 지난 24일 서울 여의도 본사에서 여경협과 '여성 경제·펨테크 산업 활성화를 위한 업무협약(MOU)'을 체결했다고 27일 밝혔다.양사는 이번 협약을 계기로 여성기업의 성장을 지원하고 펨테크 산업의 기반 확대와 지속 가능한 성장 동력 확보를 위해 협력을 강화할 계획이다.한화손보는 우선 국내 유망 펨테크 기업의 발굴과 육성을 지원하고 글로벌 시장 진출도 뒷받침할 예정이다. 여성기업의 안정적인 경영 환경 조성을 위한 금융 프로그램도 마련한다. 특히 여성 고객에 특화된 맞춤형 보험상품을 개발 및 판매하고, 펨테크 산업 활성화를 위한 기금 조성 등도 추진한다.이와 함께 여성기업인의 역량 강화를 위한 교육과 네트워킹 프로그램을 운영하고, 여성 건강 증진과 삶의 질 향상을 위한 웰니스 사업도 단계적으로 구체화해 나갈 방침이다.한화손보 관계자는 "여성 기업의 지속적인 혁신과 도전은 우리 사회의 경쟁력을 높이는 핵심 원동력"이라며 "이번 협약을 통해 여성기업 성장을 밀착 지원하고 펨테크 산업 저변을 확대해 미래 성장 기반을 다지는 데 기여하고 고객에게 보다 나은 서비스 제공을 위해 노력할 것"이라고 말했다.* This article has been translated by AI. 2026-07-27 08:44:00
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LS Eco Energy and Lynas Invest Together to Build Non-China Rare Earth Supply Chain LS Eco Energy is accelerating the establishment of a non-China rare earth supply chain through mutual investments with Australian rare earth company Lynas.On July 27, LS Eco Energy announced that it has signed a contract to mutually acquire convertible bonds (CB) worth 30 billion won with Lynas. This follows a rare earth business cooperation agreement made in March, moving beyond a simple raw material supply contract to establish a long-term collaborative framework.Lynas is effectively the only company capable of large-scale commercial production of rare earth raw materials outside of China. Through this investment, LS Eco Energy aims to secure a stable supply of essential raw materials for its rare earth business and lay the groundwork for expansion.As China has tightened its rare earth export controls, efforts to diversify supply chains have accelerated, particularly in the U.S. and Europe. Rare earths are critical materials used across advanced industries, including defense, electric vehicles, robotics, and wind power. There is a growing trend to secure non-China rare earths, even at higher costs, to ensure supply stability.LS Eco Energy plans to become the first company outside of China to produce samarium metal for defense applications. Samarium is a key material for samarium-cobalt permanent magnets used in fighter jets, missiles, and radar systems. The company intends to gradually expand its production to include metals such as dysprosium (Dy), terbium (Tb), neodymium (Nd), and praseodymium (Pr).Through this collaboration, Lynas will supply rare earth raw materials, while LS Eco Energy will produce metals, establishing a value chain where LS Cable manufactures permanent magnets. The goal is to create a supply chain that does not involve China, targeting the demand for non-China rare earths from defense and advanced industry clients.Lee Sang-ho, CEO of LS Eco Energy, stated, "This investment is a strategic decision that demonstrates the strong commitment of Lynas and LS Eco Energy to grow the rare earth business together. We will lead the global market based on a stable raw material supply chain."* This article has been translated by AI. 2026-07-27 08:44:00