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  • President Lees Approval Rating Drops to 51%, Real Estate Policy Criticized
    President Lee's Approval Rating Drops to 51%, Real Estate Policy Criticized President Lee Jae-myung's approval rating has seen a slight decline for the third consecutive week, according to a recent public opinion survey. The primary reason cited for disapproval was his real estate policy.On July 24, Korea Gallup reported that President Lee's job approval rating stands at 51%. Meanwhile, 38% of respondents indicated they believe he is performing poorly, and 11% withheld their opinions. The survey was conducted from July 21 to July 23 among 1,003 adults aged 18 and older across the country.This figure matches the lowest approval rating recorded since President Lee took office, which was also 51% in the survey conducted in the fourth week of June. Following a 54% approval rating released in the first week of July, the president's approval has dropped by 1 percentage point each week for three weeks.Among the reasons for positive evaluations, 'diplomacy' was the most frequently mentioned at 17%. Other reasons included 'economy and livelihood' (15%), 'overall performance' (9%), and 'communication' (8%).Conversely, the reasons for disapproval were led by 'real estate policy' (22%), followed by 'economy, livelihood, and high exchange rates' (10%), 'overall poor performance' (7%), and 'issues of morality and evading personal trials' (5%).Regionally, the highest support was found in Gwangju and Jeolla at 76%, followed by Busan, Ulsan, and Gyeongnam at 52%, and Daejeon, Sejong, and Chungcheong at 51%. In Incheon and Gyeonggi, support was at 50%, while Seoul recorded 43%, and Daegu and Gyeongbuk had 40%.By age group, support was over 50% among those in their 50s (69%), 40s (63%), and 60s (51%). However, support among those aged 18 to 29 was only 33%, and 39% among those in their 30s. Support levels were 83% among progressives, 49% among moderates, and 26% among conservatives.In terms of party support, the Democratic Party received 44%, while the People Power Party garnered 23%. Compared to the previous survey, the Democratic Party's support increased by 4 percentage points, while the People Power Party's dropped by 3 percentage points. The Justice and Innovation Party and the Reform Party each received 2%, the Progressive Party received 1%, and 27% of respondents were undecided.This survey was conducted via telephone interviews using randomly selected virtual numbers. The margin of error is ±3.1 percentage points at a 95% confidence level, with a contact rate of 39.7% and a response rate of 10.7%. For more details, please refer to the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. 2026-07-24 11:28:00
  • China-based K-pop boy group CIIU to release album next month
    China-based K-pop boy group CIIU to release album next month SEOUL, July 24 (AJP) - China-based K-pop boy group CIIU will release their first extended play (EP) next month since making their debut last year, their agency JYP Entertainment said on Friday. CIIU debuted in August 2025 under JYP Entertainment's "Globalization by Localization" strategy, which develops artists tailored to individual overseas markets. The strategy first produced Boy Story in China before expanding to Japan-based girl group NiziU and U.S.-based girl group VCHA. Following their debut, CIIU's first single entered the top 10 of QQ Music's daily popularity and trending charts. With the EP, "Closer To 'You'" slated for release on Aug. 4, its title track "Closer" centers on themes of youth and emotional growth, portraying the journey of growing closer to someone. The release is built around the group's signature "C-Tro Pop" style, which blends Chinese retro influences with contemporary pop. The promotional rollout began earlier this month with the release of a teaser poster and concept film. On July 14, CIIU pre-released the B-side track "Step By Step" along with its accompanying music video. The song combines the sound of a traditional Chinese wind instrument with hip-hop elements. Another B-side, "Next To You," is scheduled for release on Aug. 19. Beyond music, the boys have expanded their presence in China through collaborations with local brands and promotional events. They were recently selected as an advertising model for Chinese electric bicycle brand Xinri and are partnering with theme park operator Fantawild for promotional events. They are also scheduled to perform at the 2026 TMELive International Music Awards on Aug. 22 before meeting fans in Shanghai on Aug. 29 to mark the first anniversary of their debut. 2026-07-24 11:14:55
  • Economic Growth Rate Exceeds Expectations, Securities Firms Raise Annual Forecasts
    Economic Growth Rate Exceeds Expectations, Securities Firms Raise Annual Forecasts This year, South Korea's economy has shown stronger growth than expected in the first half, prompting securities firms to raise their annual economic growth forecasts. Following a surprising growth in the first quarter, the economy continued to exceed market expectations in the second quarter, making the possibility of a 3% annual growth rate more realistic.According to the financial investment industry on July 24, major domestic securities firms have recently adjusted their forecasts for this year's real Gross Domestic Product (GDP) growth upward. This comes after the Bank of Korea reported a preliminary real GDP growth rate of 0.6% for the second quarter, surpassing both market expectations and the bank's own projections.The economy has shown a robust performance throughout the first half of the year. The first quarter growth rate was revised upward from an initial estimate of 1.7% to 1.8%, significantly exceeding forecasts. In the second quarter, the growth rate reached 0.6%, three times higher than the Bank of Korea's forecast of 0.2%.Typically, when the previous quarter's growth rate is high, the following quarter may experience a slowdown due to base effects. However, this year, the economy has continued to grow positively after the 1.8% growth in the first quarter, confirming a stronger-than-expected recovery.Notably, in the second quarter, strong semiconductor exports offset the impact of rising international oil prices and increased external uncertainties due to conflicts in the Middle East. Both private consumption and exports increased, contributing to growth in domestic demand and net exports.In light of the unexpected growth in the first half, securities firms have raised their annual growth rate forecasts. Hyundai Motor Securities increased its forecast from 2.7% to 3.2%, while Meritz Securities raised its estimate from 2.9% to 3.4%. Shinhan Investment Corp. adjusted its forecast from 3.1% to 3.3%. Korea Investment & Securities and Shinhan Investment Corp. projected growth rates of 3.2% and 3.1%, respectively, both higher by 0.5 and 0.4 percentage points from their previous estimates. iM Securities provided the highest forecast among major firms at 3.6%, while Daishin Securities anticipated a growth rate of 3.5%.Park Sang-hyun, a researcher at iM Securities, stated, "The growth trend centered on strong semiconductor exports is expected to continue in the second half. The ongoing investment cycle in artificial intelligence (AI) in the United States will sustain the semiconductor export boom in the latter half of the year." He added, "While the increase in semiconductor export prices drove growth in the first half, we expect a relative increase in export volumes in the second half to further support this growth."The Bank of Korea has also noted that the possibility of achieving a 3% annual growth rate has significantly increased. A Bank of Korea official stated, "Even if the average growth rate in the third and fourth quarters is only -0.1%, we can still achieve a 3% annual growth rate." Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol also remarked that the likelihood of achieving 3% annual growth and a per capita national income (GNI) of $40,000 has become very high.Market observers are paying close attention to the potential for further upward adjustments to the Bank of Korea's growth forecast for this year. In its economic outlook released in May, the Bank of Korea assumed a growth rate of about 3.3% for the first half, but the actual growth rate is estimated to have risen to approximately 3.8% compared to the same period last year.Kim Yu-mi, a researcher at Kiwoom Securities, noted, "Considering that the first half growth rate has exceeded initial projections by more than 0.5 percentage points, it is highly likely that the Bank of Korea will make a relatively significant upward adjustment in its economic outlook to be announced in August. The annual growth rate is expected to converge around 3.0%, close to the government's forecast."* This article has been translated by AI. 2026-07-24 11:12:00
  • Shinhan Investment Corp. Reports 123% Increase in First-Half Net Profit
    Shinhan Investment Corp. Reports 123% Increase in First-Half Net Profit Shinhan Investment Corp. announced that its net profit for the first half of the year reached 577.7 billion won, a 123.1% increase compared to 258.9 billion won during the same period last year.Operating profit for the same period rose to 748.4 billion won, up 135.0% year-on-year, while operating revenue increased by 76.3% to 1.4741 trillion won.In the second quarter, net profit was 289.3 billion won, reflecting a 0.3% increase from the previous quarter and a 91.6% rise from the same quarter last year. Operating profit for the second quarter was 362.0 billion won, an 80.2% increase year-on-year, with operating revenue reaching 772.6 billion won, up 65.4%.The strong performance in the first half was driven by growth in the brokerage sector. Commission income totaled 935.4 billion won, with trust commissions soaring to 677.9 billion won, a 228.5% increase from 206.4 billion won in the same period last year. This surge was attributed to increased trading volumes amid a booming capital market.Conversely, the investment banking (IB) sector experienced some challenges. IB revenue for the first half was 73.4 billion won, down 24.7% from the previous year. In the second quarter, IB revenue also fell to 30.8 billion won, a decrease of 26.7% year-on-year and 27.7% from the previous quarter.Shinhan Investment Corp. stated, "The significant improvement in performance compared to the previous year was due to increased commission income from stock trading and financial products, along with improved product management income. However, despite the rise in stock trading commissions due to favorable capital market conditions, conservative management strategies in response to rising market interest rates led to a slight increase in net profit compared to the previous quarter."* This article has been translated by AI. 2026-07-24 11:08:00
  • K-pop quartet aespa release new album in Japan
    K-pop quartet aespa release new album in Japan SEOUL, July 24 (AJP) - K-pop girl group aespa released their first Japanese mini album on Friday as they seek to expand their presence in Japan. "KISS N TELL" features six songs including the title track of the same name, a dance-pop song with upbeat piano melodies, rhythmic beats and layered harmonies, with lyrics exploring deepening friendships through shared personal concerns and emotions, according to their agency SM Entertainment. Released alongside the album, the music video for the title track is set in an amusement park and showcases the quartet's choreography against bright, summery visuals. The album also includes "ATTITUDE," a theme song for the Japanese television anime "Kill Blue"; "In Halo," featured in the drama "First Bite"; and three new songs, "Orbit Pop," "Fangirl" and "Done with Rules." The latest release comes about two years after aespa debuted in Japan with their single "Hot Mess" in 2024. Meanwhile, aespa will perform at this year's Lollapalooza Chicago in Grant Park, a music festival in Illinois, in August. 2026-07-24 11:04:48
  • South Korea Engages in Public Consultation for Participation in GEPA
    South Korea Engages in Public Consultation for Participation in GEPA The South Korean government has initiated a public consultation process regarding its participation in the Green Economy Agreement (GEPA) being pursued by Singapore, New Zealand, and Chile.On July 24, the Ministry of Trade, Industry and Energy held a public hearing at the Korea International Trade Association to gather opinions from stakeholders and experts before establishing a plan for the trade agreement. This hearing was organized in accordance with relevant laws.GEPA is a multilateral agreement that discusses the introduction of new trade norms in the green economy to ensure that countries' measures to combat climate change do not create unnecessary trade barriers. It also aims to promote trade and investment in related fields. The three countries agreed to pursue this initiative during the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju last October.Singapore, New Zealand, and Chile are leading countries in establishing new trade norms, having first launched the Digital Economy Partnership Agreement (DEPA). South Korea's participation in GEPA discussions would allow for the proactive reflection of domestic industries' realities and interests in the establishment of new trade norms.The public hearing included presentations on the overview of GEPA, progress updates, and economic feasibility analysis results, followed by panel discussions and feedback sessions. The Korea Institute for International Economic Policy (KIEP) presented the economic feasibility analysis, with participation from experts in academia and the fields of trade, carbon reduction, and environmental energy.This public hearing signifies South Korea's commitment to actively respond to the convergence of climate and trade issues. As countries strengthen their environmental measures, including carbon reduction, green certifications, supply chain due diligence, and product environmental information disclosure, differing standards across nations could effectively act as new non-tariff barriers for businesses.Kim Jang-hee, the Ministry's Director of New Trade Strategy Support, stated, "The need for establishing new trade norms is increasing to ensure that trade-related environmental measures are transparent and based on scientific evidence, and to enhance institutional coherence between countries. We will thoroughly establish a plan for the agreement to ensure that responses to climate change and the expansion of green markets lead to our industry's competitiveness and new export opportunities."* This article has been translated by AI. 2026-07-24 11:04:00
  • Government Seeks Input on Improving Total Project Cost Management System
    Government Seeks Input on Improving Total Project Cost Management System The government is seeking input from industry experts to improve the 'Total Project Cost Management System,' which oversees the management of total project costs for large-scale projects.On July 24, the Ministry of Strategy and Finance held a 'Total Project Cost Management System Improvement Meeting' at the Korea Fiscal Information Service. This system is designed to adjust and manage the total project costs of large-scale projects funded by the national budget and funds to enhance the efficiency of fiscal expenditures.During the meeting, participants discussed practical challenges arising from discrepancies between the total project cost management system and actual execution on the ground. Suggestions for reform, including the need to increase the number of items that can be autonomously adjusted when project timelines are extended or tasks change, were also raised.The Ministry plans to develop an improved 'Total Project Cost Management Guidelines' later this year, taking into account the discussions held during the meeting and consulting with relevant agencies.Jeong Hyang-woo, the Social Budget Review Officer at the Ministry, stated, "The Total Project Cost Management System is the budget system most closely related to the field. We will pursue practical and effective improvements that ensure fiscal efficiency while harmonizing with on-site conditions. To achieve this, we will maintain ongoing communication with the construction industry and academia to establish a rational total project cost management framework."Meanwhile, the government has been continuously working to improve the total project cost management system. Last year, it relaxed the cost segregation for different types of projects, such as technology proposal projects, and revised the total project cost management guidelines to reflect on-site suggestions. This led to changes, including the addition of actual construction management units to the calculation of supervision costs for large construction sites.* This article has been translated by AI. 2026-07-24 11:04:00
  • Grand Kensington Seorak Beach to Open in October, Reservations Start July 27
    Grand Kensington Seorak Beach to Open in October, Reservations Start July 27 E-Land Park will begin official reservations for its luxury resort, Grand Kensington Seorak Beach, which is set to open in October. Ahead of the opening, the resort is unveiling details about its rooms, facilities, and cultural content on its website to enhance customer engagement.On July 24, E-Land Park announced that the official reservation service for Grand Kensington Seorak Beach will start on July 27 through its website.Located in Goseong County, Gangwon Province, Grand Kensington Seorak Beach is a members-only luxury resort under Kensington Hotel & Resort, scheduled to open in October.The resort features a cruise-inspired exterior and boasts a private beach that stretches approximately 1 kilometer.The newly launched official website will offer room information and a customized reservation service. The resort comprises 72 rooms, each ranging from 184 to 462 square meters (about 50 to 140 pyeong).Visitors can also preview the resort's facilities on the website, including wellness swimming pools such as the 'Ocean Infinity Pool,' 'Hanging Pool,' and 'Lagoon Pool.'Cultural content will also be showcased. The E-Land Museum will provide digital access to a collection of over 130 artworks, including more than 110 pieces of Picasso ceramics and works by contemporary artists.Guests can explore four curation themes related to Picasso ceramics on the website, and after the opening, they will be able to view these works in a dedicated exhibition space within the resort.A representative from Grand Kensington stated, "We have made it easier for customers to check room and facility information through our official reservation channel, and we plan to continuously expand member-exclusive services based on this channel."* This article has been translated by AI. 2026-07-24 11:04:00
  • Nongshim to Raise Prices of 43 Brands by 5.8%
    Nongshim to Raise Prices of 43 Brands by 5.8% Nongshim will raise the ex-factory prices of its popular cup noodles, snacks, and beverages by an average of 5.8% starting August 1. The primary reason for the increase is the soaring costs of materials, including packaging, due to prolonged high exchange rates and oil prices. However, all instant noodle products, including Shin Ramyeon, which directly affect consumer prices, are excluded from this price hike. According to Nongshim on July 24, the price adjustment will affect a total of 43 brands, including 18 cup noodles, 23 snacks, and 2 beverages. The average increase by category is 6.0% for cup noodles, 5.5% for snacks, and 7.7% for beverages. As a result, the recommended retail prices for key products will also rise. The price of the flagship cup noodle, 'Yukgaejang Cup Noodle,' is expected to increase from 1,100 won to 1,200 won, while the popular snack 'Shrimp Chips (90g)' will go up from 1,500 won to 1,600 won. The actual selling prices of major products such as Shin Ramyeon Cup, Honey Twist Snack, Capri Sun, and Welch's will also be adjusted across various distribution channels. This price adjustment marks the first increase for noodles in 1 year and 5 months since March 2025, while Shrimp Chips have seen price changes after a decrease in 2023 and a prior increase in September 2022. Nongshim noted that this is effectively the first increase in 3 years and 11 months. Nongshim stated that the accumulated cost burden has exceeded its capacity to absorb it. A Nongshim official said, "The surge in material prices, including packaging, due to high exchange rates and oil prices stemming from international circumstances has significantly deteriorated the profitability of our domestic operations. We have managed to endure this through operational efficiency and cost-cutting measures, but the increase in supplier prices has made this adjustment unavoidable." Nevertheless, Nongshim has decided to freeze the prices of all instant noodles, which account for 63% of its noodle sales, to minimize the burden on consumers amid high inflation and to support the government's price stabilization efforts. Additionally, the company plans to expand discounts and promotional offers at large supermarkets, convenience stores, and e-commerce platforms to reduce the perceived impact of the price increase on consumers. Recently, the food industry has seen price adjustments due to rising costs of packaging, raw materials, and logistics. Lotte Chilsung Beverage raised the ex-factory prices of 44 items, including Chilsung Cider and Pepsi Cola, by an average of 5.3% in June, and Ottogi increased prices for 29 items, including curry, noodles, ketchup, and pepper this month. 2026-07-24 10:52:00
  • New Jersey Officials Oppose FIFAs Sale of World Cup Grass
    New Jersey Officials Oppose FIFA's Sale of World Cup Grass Following the conclusion of the 2026 FIFA World Cup final, a dispute has erupted between New Jersey officials and FIFA over the sale of natural grass from MetLife Stadium, where the final was held.The Athletic reported on July 19 that New Jersey criticized FIFA and the local organizing committee for profiting from the sale of grass funded by taxpayer dollars, arguing that the revenue should benefit residents.The controversy began when FIFA announced it would sell pieces of the grass preserved from the final. The official FIFA online store lists basic grass souvenirs for $450, with premium options priced at $900, $1,200, and $3,000. Each product is limited to 2,026 units. If all items sell out, projected revenue could reach $11.2 million, intensifying the debate.New Jersey officials are particularly concerned that the cost of installing the stadium's grass was largely borne by taxpayers. According to The Athletic, the New Jersey Sports and Exposition Authority (NJSEA) invested approximately $13.04 million in design, construction, and maintenance equipment to install natural grass that met FIFA standards. NJSEA is a public agency that operates the sports complex housing MetLife Stadium. A spokesperson for the New Jersey governor stated, "Since New Jersey residents spent millions preparing the stadium, the sales revenue should also be shared with them."Republican members of the New Jersey legislature echoed these sentiments. Assemblyman Mike Inganamort remarked, "Selling grass installed with taxpayer money without permission could be illegal," adding that legal action should be considered if necessary. He emphasized, "The grass was cultivated with New Jersey taxpayers' money, yet FIFA is reaping all the profits. The sales revenue should go to New Jersey residents."In response, FIFA refuted claims that it would pocket significant sales revenue. The organization stated, "The grass sale is led by the host city committee, and FIFA will receive less than 5% in royalties for trademark use," calling assertions that FIFA would earn $11 million a blatant distortion of the facts.According to FIFA and organizing committee officials, the grass being sold represents only about 5 yards (approximately 4.6 meters) of the field, and most of the sales revenue will go to the New York-New Jersey host committee, which plans to reinvest it in local projects and sports initiatives. However, New Jersey maintains that the benefits should directly accrue to its residents.This dispute highlights ongoing tensions between New Jersey and FIFA that have persisted throughout the World Cup. Earlier, New Jersey raised the fare for a special train service between Manhattan and MetLife Stadium from $12.90 to $98, leading to clashes with FIFA, which expressed concern that the steep fare increase could deter fans. New Jersey Governor Mikie Sherrill countered, "FIFA, which is making enormous profits, should also bear transportation costs."Additionally, during the World Cup, the stadium's name was changed to 'New York New Jersey Stadium,' prompting Sherrill to argue that 'New Jersey New York Stadium' would be more appropriate given New Jersey's investment and contributions, further escalating tensions with FIFA.The Athletic noted that New York and New Jersey invested hundreds of millions for the World Cup, expecting an economic impact of about $3.3 billion, although there are concerns that these projections may be overstated.* This article has been translated by AI. 2026-07-24 10:48:00