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Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:39:17 -
Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:38:09 -
Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:37:06 -
Kia Confident in Annual Profit Target Amid Hybrid Expansion and EV Incentive Strategy Kia has expressed confidence in maintaining its annual performance targets despite external uncertainties such as U.S. auto tariffs and rising raw material costs. The company plans to enhance profitability through increased hybrid vehicle sales while opting not to expand electric vehicle (EV) incentives in Europe.Kim Seung-jun, Executive Vice President of Kia's Finance Division, stated during a conference call on July 24 following the second quarter earnings report, "We believe we can achieve our targets of 3.35 million wholesale sales, 3.31 million retail sales, and an operating profit of 10.2 trillion won set during our Investor Day earlier this year," adding, "We expect about 10% growth in the second half compared to last year." Kia reported a record consolidated revenue of 33.037 trillion won for the second quarter, achieving both the highest revenue and the most sales in a single quarter. During this period, global wholesale sales reached 851,639 units, while retail sales totaled 839,000, marking increases of 4.5% and 5.8%, respectively, compared to the same period last year.Kim noted, "While global automotive demand has decreased by 3.8% year-on-year, Kia's global sales have grown by about 6%, and our market share in the first half reached a record high of 4%. Sales are increasing evenly across most regions, not just in specific areas." The EV sales incentives previously expanded in the European market were described as a strategic choice to secure market share. Kia increased incentives for its mid-range EV models, including EV2, EV3, EV4, and EV5, with average incentives exceeding 1,000 euros in Europe and about $400 per vehicle in the U.S.Kim emphasized, "It was important to secure market share even if it meant sacrificing some profitability in EVs to compete with Chinese manufacturers. There were expectations for further incentive expansions in the second half, but that will not be the case." Regarding concerns over declining profitability due to increased EV sales, he expressed confidence that the growth in hybrid sales would sufficiently offset this. In the second quarter, the share of domestic EV sales reached 24.5%, while in Europe, it rose to 35%, but hybrid sales are also increasing rapidly.Kim stated, "Hybrids have about 1.5 times the profitability of internal combustion engines. Even as EV sales increase, the share of hybrids is also expanding, allowing us to maintain overall profitability." Kia plans to increase production of the Telluride hybrid at its Georgia plant and to begin mass production of the Sportage hybrid at the Hyundai Motor Group Metaplant America (HMGMA) to boost sales. The company also anticipates that the impact of rising raw material prices, identified as a performance burden, will ease starting in May.The future mobility business will proceed as scheduled. Kia confirmed that there will be no changes to the timelines for developing software-defined vehicles (SDVs) and autonomous driving technology. The company plans to unveil a concept vehicle next year, with the launch of SDVs expected in early 2028 and the completion of Level 2++ autonomous driving technology by the end of that year.Additionally, Kim mentioned the data center planned for construction in Saemangeum, North Jeolla Province, stating, "It will be a key asset for collecting and training data for autonomous driving and robotics. It will be operated as a joint asset of the group, not just Kia." 2026-07-24 16:36:00 -
Ruling Party Approves Bill to Abolish Prosecutors' Supplementary Investigation Rights The Democratic Party approved a bill on July 24 to completely abolish prosecutors' supplementary investigation rights. The decision was made without any objections during a party meeting. The bill also includes provisions to expand protection measures for victims and enhance mutual checks among investigative agencies.Lee Joo-hee, the party's floor spokesperson, announced the decision during a policy meeting at the National Assembly. She stated, "The party agreed to reach a conclusion quickly, and 106 out of 161 lawmakers participated, meeting the quorum for the vote." Despite internal disagreements, the party confirmed its stance to fully abolish supplementary investigation rights, believing that further delays in legislative reform for prosecutorial reform were unacceptable. However, some voices have raised concerns about potential gaps in investigations and the need for stronger victim protection measures.In response, Han Byeong-do, the party's acting leader and floor leader, emphasized during the morning's Supreme Council meeting that the ruling party would make responsible decisions, stating, "As the ruling party, we will shoulder the weight of governance together and aim to finalize the legislation swiftly." The proposed bill seeks to eliminate the supplementary investigation rights of prosecutors, detail the expansion of protection measures for victims, and strengthen mutual oversight among investigative agencies. Additionally, the party plans to expedite amendments to the Serious Crimes Investigation Agency Act to establish dedicated departments for crimes against vulnerable groups, allowing for supplementary investigations.With the Democratic Party accelerating the process following the party's endorsement, the bill is expected to be reviewed by the judiciary committee next week and could be processed in a plenary session as early as July 30. 2026-07-24 16:36:00
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Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:35:57 -
Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:34:57 -
AMCHAM Chair speaks on tariff SEOUL, July 24 (AJP) - James Kim, chairman and CEO of AMCHAM Korea, speaks with AJP at the AMCHAM office in Seoul on how South Korea and the United States can forge a mutually beneficial tariff agreement after Washington's latest Section 301 action effectively set a 12.5 percent tariff floor on Korean exports while exempting Seoul from the blanket tariff category under the Korea-U.S. free trade agreement. 2026-07-24 16:33:06 -
AMCHAM Chair speaks on tariff SEOUL, July 24 (AJP) - James Kim, chairman and CEO of AMCHAM Korea, speaks with AJP at the AMCHAM office in Seoul on how South Korea and the United States can forge a mutually beneficial tariff agreement after Washington's latest Section 301 action effectively set a 12.5 percent tariff floor on Korean exports while exempting Seoul from the blanket tariff category under the Korea-U.S. free trade agreement. 2026-07-24 16:32:04 -
Investigation Confirms Shincheonji Members Joined Democratic Party The Joint Investigation Team is examining allegations that members of the Shincheonji Church joined the Democratic Party. According to legal sources on July 24, the team has identified evidence suggesting that Shincheonji encouraged its members to join the Democratic Party to resolve local grievances and has begun investigating related individuals.In the past, Shincheonji attempted to purchase properties in areas such as Gwacheon, Goyang, Gapyeong, Incheon, and Iksan for religious use but faced opposition from residents, preventing them from obtaining approval for changes in land use.In this context, the investigation team has found indications that Shincheonji urged its members to join the Democratic Party to address these local issues.The team believes that if Shincheonji engaged in collective actions to interfere in the Democratic Party's internal primaries or elections, it could face charges of violating election laws.The controversy has intensified following claims by Democratic Party leadership candidates Kim Min-seok and Song Young-gil regarding Shincheonji's alleged interference in the party's internal primaries during the recent party convention.Since its establishment in January, the investigation team has focused on allegations of Shincheonji members joining the People Power Party, conducting searches at the Shincheonji headquarters in Gwacheon and the party's office.On July 13, just five months after its formation, the team arrested and indicted Lee Man-hee, the church's leader, and others for allegedly forcing members to join the People Power Party, charging them with violations of party law and obstruction of business.Earlier, Shincheonji had called for a simultaneous investigation of its membership lists alongside those of the Democratic Party and the People Power Party, stating that the investigation should not target only one specific party but should be thorough and impartial.* This article has been translated by AI. 2026-07-24 16:32:00