Latest by
-
U.S. Treasury Maintains South Korea on Watch List Amid Ongoing Won Depreciation Pressure The U.S. Treasury Department has kept South Korea on its watch list for the fourth consecutive time since the second half of 2024's currency report. Being on the watch list indicates that while immediate economic sanctions are not forthcoming, the U.S. is closely monitoring the country. Additionally, there are analyses suggesting that the one-sided depreciation of the won does not align with South Korea's economic fundamentals.According to the Ministry of Economy and Finance on July 24, the U.S. Treasury released its 'Macroeconomic and Foreign Exchange Policies of Major Trading Partners' report on July 23 (local time). This report evaluates the macroeconomic and exchange rate policies of the top 20 trading partners with the U.S. for 2025.The U.S. Treasury stated that there are no countries requiring in-depth analysis in this report. A country is classified for in-depth analysis if it meets three criteria: a trade surplus with the U.S. of over $15 billion, a current account surplus exceeding 3% of GDP, and foreign exchange market intervention. The results for the watch list classification remained the same as those announced in January.South Korea meets two of the three criteria: a trade surplus with the U.S. and a current account surplus. As a result, it has been included on the watch list for four consecutive reports since the second half of 2024.In the report, the U.S. Treasury assessed that 'exports have supported a slowdown in growth' for the South Korean economy. It noted a significant increase in the current account surplus, particularly driven by semiconductors and technology-related products. While imports of automobiles have decreased, the trade balance with South Korea remains more than double compared to ten years ago, despite a year-on-year decline.Despite the substantial surplus in the external sector, the U.S. Treasury indicated that pressure on the won's depreciation continues. Earlier, in its January report, the Treasury stated that 'the recent weakness of the won does not align with the strong fundamentals of the South Korean economy.' This phrase was reiterated in the current report. It also analyzed that household and corporate investments in overseas stocks at the end of last year were a primary cause of the depreciation pressure on the won.Additionally, the report included evaluations of proposals to ease foreign participation in the local foreign exchange market and the National Pension Service's new framework.A Ministry of Economy and Finance official stated, 'We will continue to communicate closely with the U.S. Treasury to enhance mutual understanding and trust regarding the foreign exchange market,' adding, 'We will maintain cooperation to stabilize the foreign exchange market.'* This article has been translated by AI. 2026-07-24 09:04:00 -
Fire Breaks Out at Commercial Building in Busan's Gangseo District, No Injuries Reported A fire broke out at a commercial building in Busan's Gangseo District.According to Yonhap News and the Busan Fire and Disaster Headquarters, a report of the fire was received at approximately 2:33 a.m. on July 24, originating from a fishing equipment manufacturing and sales store in Daejeo 1-dong.Fire authorities deployed 178 personnel and 70 pieces of equipment to the scene, successfully extinguishing most of the fire and currently conducting mop-up operations.Fortunately, there were no reported injuries, although four stores were damaged by the flames.The Gangseo District urged nearby residents and workers to inform others of the incident and evacuate to areas free from risks of further collapse or explosion.* This article has been translated by AI. 2026-07-24 08:56:00
-
Alphabet's Strong Performance Boosts Semiconductor Stocks as Tech Giants Await Earnings ◆아주경제 주요뉴스▷Alphabet's strong results lift semiconductor stocks amid AI investment focus.- Google's parent company Alphabet reported better-than-expected earnings and reaffirmed its commitment to expanding artificial intelligence (AI) investments, leading to a rise in domestic semiconductor stocks.- Market attention is shifting from AI semiconductor companies like NVIDIA to major cloud firms such as Microsoft, Meta, and Amazon as they await earnings reports.- Alphabet announced on July 22 that its second-quarter revenue reached $119.8 billion, with Google Cloud revenue, benefiting from AI, soaring 82% year-over-year, significantly exceeding market expectations.- This performance not only highlights Alphabet's success but also confirms that the AI investment cycle is still ongoing.- Although the recent rally in AI semiconductors has slowed, raising doubts about whether expanded AI investments will translate into actual profits, Alphabet alleviated some concerns by presenting simultaneous growth in cloud services and increased investment in AI infrastructure. ◆주요 리포트▷Oil market faces heightened supply concerns - International oil prices have resumed a sharp upward trend. After dropping to around $68 per barrel for WTI in early July, prices have risen to approximately $92.- This increase is attributed to escalating military tensions between the U.S. and Iran, along with renewed blockades in the Strait of Hormuz.- The earlier drop in oil prices in July was linked to expectations of resumed shipping through the Strait of Hormuz and normalization of supply from Gulf oil-producing countries. However, with supply concerns rising again, prices have quickly rebounded. Notably, this week's additional price increases followed attacks on vessels after Houthi rebels declared a blockade in the Red Sea.- Currently, shipping through the Strait of Hormuz is restricted, while the Red Sea serves as a major alternative export route for Saudi oil, making the situation in the Red Sea significantly impactful on oil supply forecasts. ◆장 마감 후(23일) 주요공시△Korea Gas Corporation appoints Hong Ui-rak as new president at extraordinary general meeting.△SK Telecom announces cash dividend of 830 won per common share.△Dong-A Socio Holdings decides to absorb its 100% subsidiary Dong-A Pharmaceutical.△April Bio completes issuance of 3,608,595 shares through third-party allocation for 15.5 billion won.△Aribio Lab announces a third-party allocation capital increase of 2 billion won. ◆펀드 동향(22일 기준, ETF 제외)▷Domestic equity funds: -400 million won▷Overseas equity funds: 42.1 billion won ◆오늘(24일) 주요일정▷Japan: Consumer Price Index (June)▷Germany: GfK Consumer Climate (August), Manufacturing and Services PMI (July)▷United States: Manufacturing and Services PMI (July), Building Permits and Housing Starts (June), New Home Sales (June)* This article has been translated by AI. 2026-07-24 08:56:00
-
Market Preview: U.S. Big Tech Plummets, Samsung Electronics and SK Hynix Weak in Pre-Market The KOSPI is expected to take a breather on July 24 amid the spread of geopolitical risks in the Middle East and a sharp decline in U.S. big tech stocks. The New York stock market experienced a broad downturn as international oil prices surpassed $100 per barrel and U.S. Treasury yields rose. U.S. stocks closed lower across the board. With Alphabet and Tesla shares plummeting, investor sentiment weakened, particularly in technology stocks, as both international oil prices and U.S. Treasury yields surged.On July 23 (local time), the Dow Jones Industrial Average fell by 506.93 points (0.97%) to close at 51,711.65. The S&P 500 index dropped 90.66 points (1.21%) to finish at 7,408.30, while the tech-heavy Nasdaq Composite Index plummeted 553.21 points (2.15%) to end at 25,137.69. Despite reporting better-than-expected earnings, Alphabet's stock fell nearly 7% as concerns over deteriorating free cash flow due to large AI investments came to the forefront. Tesla also saw a decline of over 14% due to disappointing second-quarter results and worries about cash flow amid expanded investments. In the domestic market, major semiconductor stocks are showing weakness in pre-market trading. According to NextTrade, as of 8:35 a.m., Samsung Electronics was trading at 268,500 won, down 1,500 won (0.56%) from the previous session. SK Hynix also recorded a drop of 15,000 won (0.78%), trading at 1,904,000 won. Market analysts predict that while initial weakness is inevitable, a differentiated market based on earnings season will emerge. Han Ji-young, a researcher at Kiwoom Securities, stated, "Although we will start lower due to geopolitical uncertainties surrounding the U.S. and Iran and the sharp decline in the U.S. stock market, there is a possibility of some recovery in semiconductor stocks during the day. While rising oil prices may increase interest rate pressures, the impact on stock prices could be limited considering current market valuations."* This article has been translated by AI. 2026-07-24 08:56:00
-
SK Securities Raises LS Electric's Target Price Amid Growing AI Data Center Revenue SK Securities evaluated on July 24 that LS Electric is simultaneously experiencing an increase in revenue share from AI data centers and the effects of operating leverage. As a result, the firm raised its target price from 240,000 won to 310,000 won while maintaining a 'buy' rating.Nam Min-sik, a researcher at SK Securities, cited the rising demand for power distribution equipment for AI data centers, securing major local clients in the U.S., and the commencement of domestic conglomerate projects entering the U.S. market as key factors for the upward revision of performance forecasts. He noted that increased capital expenditures (CAPEX) from memory companies are beginning to directly translate into new orders for LS Electric.Nam stated, "The lead time for switchgear for big tech clients is within 10 months, which allows for faster revenue recognition compared to ultra-high voltage transformers for transmission. Given that first-half orders are directly linked to improved performance this year, LS Electric has the highest visibility among domestic large power equipment companies."SK Securities projects that LS Electric's revenue for this year will increase by 33.2% year-on-year to 6.6 trillion won, while operating profit is expected to rise by 71.8% to 732 billion won.The company's second-quarter results also marked a record high for the quarter. Revenue for the second quarter reached 1.577 trillion won, a 32% increase from the same period last year, while operating profit surged 64% to 178.5 billion won. Nam described these results as "free of one-time gains or costs," emphasizing that profitability is structurally improving.Nam added, "The expansion of data center project contributions and increased factory utilization are occurring simultaneously," noting that the export share of the power business has risen to 53%. He also mentioned that while there were cost pressures due to rising prices of silver and copper, price increases began to be reflected in June, suggesting that further profitability improvements are possible in the second half of the year.* This article has been translated by AI. 2026-07-24 08:56:00
-
Roborock Launches New Robot and Steam Mop Cleaners in South Korea Roborock is set to launch a new line of robot vacuum cleaners and steam mop vacuums in South Korea. The company aims to expand its product range from automated robot vacuums to manual wet-dry cleaners, targeting the growing demand for cleaning appliances in the country.On July 24, Roborock announced that its robot vacuum, the Qrevo 2 Pro, will be showcased on GS Home Shopping on July 26. The vacuum mop, F25 Steam, will be available for the first time through CJ OnStyle's mobile live broadcast, "Vtina Life," on July 29.The Qrevo 2 Pro is a premium robot vacuum with a suction power of 25,000Pa. It features a "Duo Divide" main brush designed to reduce tangling of long hair and pet fur.Utilizing an automatic reverse side brush and a movable mop structure, it cleans walls and corners effectively. The mop can be cleaned at temperatures up to 75 degrees Celsius and dried with 45-degree warm air. It also automatically attaches or detaches the mop based on the cleaning environment.The F25 Steam combines vacuum suction with mop and steam cleaning capabilities. It employs a dual high-temperature management system, washing the roller with water heated to 95 degrees Celsius and spraying steam at temperatures up to 180 degrees Celsius on the floor.The product head is designed to be slim, allowing for close cleaning along wall edges. After cleaning, the roller is automatically washed and dried, minimizing the maintenance required by users.Roborock has chosen to launch the robot vacuum through TV home shopping, while the steam cleaner, which benefits from live demonstrations, will be sold via mobile live broadcasts, aligning the sales channels with the product characteristics.The first sales broadcast for the F25 Steam will feature broadcaster Brian, who will demonstrate the cleaning process in a simulated living environment and offer exclusive benefits for viewers.A Roborock representative stated, "Consumer demand for cleaning appliances is diversifying. We will introduce products with enhanced performance for both robot vacuums and vacuum mop cleaners through various distribution channels."* This article has been translated by AI. 2026-07-24 08:52:00
-
Trump: Iran Funds Will Compensate for Damage to U.S. Ships and Cargo President Donald Trump announced that the United States will use frozen Iranian funds to compensate for damages to American ships and cargo resulting from Iranian attacks.In a post on his social media platform Truth Social on July 23, Trump stated, "All damages occurring to ships, cargo, or anything related will be compensated with the Iranian funds that the U.S. holds and manages." He added, "The scale of the damages could be very large, but this is a fair and equitable measure."This statement implies that compensation for damages incurred by ships and cargo due to Iranian attacks will be paid from frozen Iranian assets. However, Trump did not clarify whether the compensation would be paid directly to shipping companies.Since July 6, at least 11 vessels transiting the Strait of Hormuz have reportedly been attacked by Iran, amid rising tensions between the U.S. and Iran.Currently, Iran's frozen assets abroad are estimated to total $100 billion, with the U.S. managing approximately $2 billion of that amount in the region. The release of these frozen funds was included in a memorandum of understanding (MOU) signed by both countries last month, where Iran demanded the release of its frozen assets in subsequent negotiations, while the U.S. has insisted on the freedom of navigation in the Strait of Hormuz.Despite Trump's comments, the actual use of frozen Iranian funds for compensating damages to ships and cargo remains uncertain. Bloomberg reported that "the use of frozen Iranian funds is a highly controversial issue," noting that victims of Iranian-related terrorism have also urged Trump to use these funds for their compensation.Additionally, in an interview with the U.S. online media Axios, Trump mentioned that he is considering a "large-scale attack" on Iran, stating, "It could be bigger than any attack we've seen before." 2026-07-24 08:52:00
-
T'way Air's Incheon-Sydney Route Surpasses 400,000 Passengers, Daily Flights Start in October T'way Air's Incheon-Sydney route has established itself as a major service, surpassing 400,000 cumulative passengers.According to T'way Air, the Incheon-Sydney route has transported an average of about 120,000 passengers annually since its inaugural flight in December 2022. This month, the total number of passengers exceeded 400,000, with an average occupancy rate nearing 90%.In addition to passenger transport, T'way Air has developed a stable cargo supply chain on the Incheon-Sydney route. The airline currently utilizes the belly cargo of its A330 aircraft to transport air cargo, including electronics, automotive parts, and machinery, in unit load devices (ULDs).As a result, cargo volume on the Incheon-Sydney route has increased from approximately 900 tons in 2023 to about 2,700 tons in 2025, tripling since the route's launch and contributing to improved profitability.Currently, the Incheon-Sydney route operates three times a week (Monday, Wednesday, and Friday), with plans to increase to daily flights starting in October. To date, a total of 1,350 flights have been operated, maintaining a stable operational record.Meanwhile, T'way Air recently announced a name change to Trinity Air during its shareholders' meeting. The new name will be applied to operations after undergoing approval procedures from domestic and international regulatory bodies. In the second half of this year, the airline plans to introduce additional passenger aircraft, including the B737-8.* This article has been translated by AI. 2026-07-24 08:48:00
-
Final Ruling Expected Today in Choi Tae-won and Noh So-young's Property Division Case Choi Tae-won, 65, chairman of SK Group, and Noh So-young, 65, director of the Art Center Nabi, are set to receive a ruling today in their long-running property division case.The Seoul High Court's Family Division, led by Judge Lee Sang-joo, will hold a public hearing at 2 p.m. to announce the verdict in the property division case, which has been ongoing since Choi filed for divorce mediation in July 2017, marking nearly nine years of legal disputes.Choi and Noh married in September 1988 and have three children together, but their relationship deteriorated. In 2015, Choi publicly revealed the existence of an extramarital child, stating, "I have been living apart from Noh for over ten years due to a deep rift between us."Choi filed for divorce mediation in July 2017, but it failed, leading to a formal lawsuit in February 2018. Noh countered with her own lawsuit in December 2019, agreeing to the divorce.In December 2022, the first trial court ordered Choi to pay Noh 100 million won in alimony and 66.5 billion won in property division. However, the appellate court significantly increased the alimony to 2 billion won and the property division amount to 1.38 trillion won in May 2024.This decision was based on the contributions of former President Roh Tae-woo's illicit funds of 30 billion won and Noh's role in the growth of SK Group, determining that Choi's shares in SK Holdings were subject to division.However, in October of last year, the Supreme Court ruled that Roh's illicit funds could not be considered in the property division, stating that even if the funds were funneled into SK, they could not be counted as Noh's contributions. The case was sent back for retrial.The appellate court's ruling on the alimony of 2 billion won was upheld, meaning the retrial will only address the property division.The key issues in the retrial are whether Choi's SK shares are subject to division and, if so, how the division ratio should be calculated. Choi's side argues that the SK shares were formed through inheritance and gifts, thus should not be included in the division.Conversely, Noh's side contends that her contributions in managing the household and raising the children warrant the shares being classified as joint property.The timing for determining the property division is also critical. Depending on whether the reference point is the conclusion of the trial on April 16, 2024, or the conclusion of the retrial on June 26, the valuation could differ by more than five times.As of the conclusion of the trial, SK's stock price was 160,000 won, valuing Choi's shares at approximately 2.7 trillion won. By the conclusion of the retrial, the stock price had risen to around 800,000 won. Both parties have the option to appeal the retrial ruling to the Supreme Court.Meanwhile, the business community is closely watching whether this ruling will impact SK Group's governance structure and asset restructuring strategy. A larger property division could increase Choi's cash flow burden, while a smaller division or exclusion of SK shares from the division could alleviate some uncertainties regarding the group's business restructuring and future investments in areas like artificial intelligence. 2026-07-24 08:44:00
-
SK Telecom and KT Announce Plans to End 3G Services The third-generation (3G) mobile communication, which ushered in the smartphone era, is set to be phased out. SK Telecom (SKT) and KT have officially requested the Ministry of Science and ICT to develop a policy for ending 3G services, and the ministry has indicated it will consider this while prioritizing user protection.On July 23, a meeting was held at SKT's T Tower in central Seoul, attended by Deputy Prime Minister and Minister of Science and ICT Lee Kyung-hwan and executives from the three major telecom companies (SKT, KT, and LG Uplus). During this meeting, the telecom companies proposed the termination of 3G services.Following the meeting, Choi Woo-hyuk, head of the Ministry's Information Protection and Network Policy Office, stated, "The telecom companies have suggested ending 3G services, but this does not mean the government will immediately push for a termination." He emphasized that user protection is the top priority and that discussions will proceed at a predictable pace after thorough consideration, especially given the significant number of Internet of Things (IoT) connections.Currently, SKT and KT are the only providers operating 3G services in South Korea, while LG Uplus skipped directly to fourth-generation (4G) services. SKT and KT continue to maintain 3G services due to residual demand from some voice call users, IoT devices, and emergency elevator communications.However, as the mobile communication market transitions to 5G and AI-based networks, there have been ongoing calls to phase out older generation networks. The rapid decline in 3G users has further fueled the urgency for service termination.According to the Ministry's report on the status of wired and wireless communication services as of the end of April 2026, there were only 346,011 active 3G mobile lines in the country, accounting for a mere 0.6% of all mobile lines. This figure represents a 52.6% decrease from the end of 2023, when there were 729,633 lines.Nonetheless, significant procedures will be required before the actual termination of 3G services. The previous process for phasing out 2G services involved checks on network operations, field inspections, expert consultations, gathering user opinions, and reviewing user protection plans before final approval.Given the Ministry's emphasis on user protection, it is expected that an assessment of the current status of 3G users and related infrastructure will precede any decisions. Hong Sa-chan, head of the Ministry's Communication Policy Planning Division, stated, "We will first assess the current usage of 3G services and request comprehensive data from the telecom companies. Based on this, we will review the termination of 3G services and the necessary procedures."The meeting also addressed advancements in AI-based networks and investment strategies for next-generation communication infrastructure. SKT presented its future network strategy focused on 6G and AI-based Radio Access Networks (AI-RAN).KT discussed plans to expand undersea cable capacity and enhance competitiveness in low-orbit satellite communications. LG Uplus introduced its plans for establishing a standalone 5G network and developing an AI ecosystem based on its AI Data Center in Paju.Additionally, the three telecom companies proposed the establishment of subordinate regulations for expanding investments in AI Data Centers and increasing tax credits for investments. Choi noted, "The tax credit situation requires inter-departmental discussions," and added that unlike previous years, they plan to continue these meetings and provide updates on progress.The Ministry plans to form a public-private committee next month with the three telecom companies to discuss investments in next-generation networks and improvements to communication regulations, aiming to establish reform measures by the end of the year.* This article has been translated by AI. 2026-07-24 08:36:00