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KT CEO Park Yoon-young Considers Media Subsidiary Integration, Cautious on Tving-Wave Merger KT CEO Park Yoon-young stated that he is contemplating the integration of the company's media subsidiaries.On July 23, Park spoke with reporters after a meeting with the Ministry of Science and ICT and the CEOs of the three major telecommunications companies at SK Telecom's T Tower in Seoul. He noted, "The times are changing, and we are considering this matter," adding that no specific decisions have been made.Earlier, there were speculations that Park was reviewing the integration of KT's media subsidiaries, including Genie Music and Millie's Library.Park also expressed caution regarding the potential merger of Tving and Wave. Concerns have been raised that KT Studio Genie, a major shareholder, has not agreed to the merger.In response, Park said, "We have not received any official requests," and emphasized the need to evaluate what position would benefit the industry, the company, and its partners, given the changing content market.Regarding Edge AI, Park highlighted the importance of infrastructure, stating, "KT has 3,500 local offices, which can be utilized as advanced data centers, or Edge AI." He added, "We will be the first to participate when the government launches pilot projects."* This article has been translated by AI. 2026-07-23 15:36:00 -
Check Card Notifications When Traveling Abroad; Change to App Push for SIM Use To prevent loss, theft, and fraudulent use of credit cards while traveling abroad this summer, travelers should set up payment notifications and usage limits before departure. The Financial Supervisory Service provided guidance on July 23 based on major dispute cases to help consumers use credit cards safely both domestically and internationally. When using ATMs at foreign airports or train stations, it is important to shield the keypad to prevent exposure of the PIN. If a transaction is completed with a correctly entered PIN, the cardholder may be held responsible, making it difficult to receive compensation for any losses. Travelers should also be cautious of card cloning and information leaks at private ATMs in secluded areas or at street vendors and bars where the payment process cannot be directly monitored. Using a foreign SIM card may prevent travelers from receiving payment notifications sent via domestic text messages. It is advisable to switch to KakaoTalk or app push notifications from the card issuer before leaving and to save the contact information for the card issuer's lost card reporting center. If a card is lost or stolen, it should be reported immediately to the card issuer and local police. Without a police report or location information at the time of the transaction, compensation for fraudulent payments may be limited. Additionally, lending a personal card to family members may complicate compensation under the terms of service, so it is recommended to obtain separate family member cards. The Financial Supervisory Service urged travelers to utilize domestic payment blocking services to prevent fraudulent transactions occurring while abroad. KB Kookmin Card and Hyundai Card offer such services, while Hana and Shinhan Cards are expected to implement them by the end of this month.* This article has been translated by AI. 2026-07-23 15:36:00
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NH Distribution Declares Commitment to Ethical Management NH Distribution, which operates the agricultural specialty store Hanaro Mart, announced on July 22 that it held an 'Ethical Management Declaration Ceremony' at its headquarters auditorium.During the ceremony, employees recited a 'Commitment to Restoring Trust and Self-Cleansing' statement, reaffirming their dedication to establishing a transparent organizational culture and practicing ethical management. The statement outlined four key commitments: combating corruption, fostering a culture of integrity, complying with laws, and eradicating the provision of money and gifts.A representative from NH Distribution stated, "With this declaration, we will establish ethical standards and strive to embody the values of NH, earning the trust of the public."NH Distribution plans to continue initiatives such as evaluating the integrity of senior employees, providing ethical management training for staff, and conducting case-based training to prevent incidents.Additionally, NH Distribution has recently ventured into live commerce using Naver Shopping Live, aiming to expand its online customer reach and support the distribution of agricultural and livestock products beyond its offline Hanaro Mart sales structure.* This article has been translated by AI. 2026-07-23 15:28:00
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President Lee Calls for Real Estate Tax Reform Amid Rising Prices President Lee Jae-myung stated that the current situation of rising real estate prices and low property tax burdens is a "problem that will eventually burst," emphasizing the need for institutional reform even at the cost of political backlash. He suggested that rather than uniformly increasing property taxes, the burden should be differentiated based on factors such as residency status, housing prices, the number of properties owned, and location. He also noted that the existing protections for single-homeowners have contributed to the so-called 'one good house' phenomenon.During the 'National Forum on Real Estate Policy' held on July 23 in Yeouido, Seoul, President Lee remarked, "To normalize our property tax to a level typical of advanced countries, we would need to raise it at least threefold," but cautioned that such an increase could lead to near-riot conditions. He added, "We must prepare for this, even if it incurs some political costs. It will eventually burst. I do not know which generation will face it, but it will have a tremendous impact on South Korea."President Lee referenced Japan's long-term real estate stagnation, stating, "Prices kept rising until they reached a breaking point, leading to discussions of 'lost 20 years, lost 30 years.'" He expressed concern that South Korea might be heading toward a similar peak, warning that the rapid increase in housing prices and rising household debt could lead to long-term economic instability.However, he emphasized that any increase in property taxes should be designed gradually and differentially. He proposed establishing a reasonable tax burden based on typical single-homeownership, while lowering tax burdens for primary residences, affordable housing for low- and middle-income families, and properties in rural areas. Conversely, he indicated that taxes could be increased for high-value homes, multiple properties, and those clearly intended for investment or speculation.President Lee also diagnosed that the existing tax benefits for single-homeowners have exacerbated the 'one good house' phenomenon. He stated, "By respecting and protecting one household, one home, we have treated all homes equally, regardless of their price, leading to the most efficient investment in a single property for profit."He further noted, "Without distinguishing between residential and investment or speculative properties, significant issues can arise from small loopholes," emphasizing that the pressure for investment and speculation in the South Korean real estate market is so high that even minor gaps can lead to major problems. He also mentioned that cases where individuals cannot temporarily reside due to work or children's education should not be classified as investment properties.President Lee highlighted the need for a safety net in light of increased property taxes. He warned that without adjustments to transaction taxes and capital gains tax systems, the effect of increased property taxes on the market could be limited. He suggested that the burden of property taxes could be partially recognized as a cost in the capital gains tax calculation.Regarding the jeonse loan system, he stated, "It seems time for adjustments." He pointed out that providing nearly unlimited jeonse loans in the name of supporting the public has led to rising housing prices, as excessive guarantees and loans have contributed to the risk of jeonse fraud and increased housing prices.The government is expected to review the opinions presented at this forum and incorporate some into a tax reform plan as early as the end of this month. Subsequent measures in the supply and financial sectors are also anticipated to be detailed in phases. 2026-07-23 15:24:00
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Hyundai Glovis Reports 2nd Quarter Operating Profit of 495 Billion Won, Exceeding Market Expectations Hyundai Glovis reported an operating profit of 495 billion won for the second quarter of this year, surpassing market expectations. The company attributed its strong performance to the expansion of its global supply chain, which also led to record sales for the quarter.In a conference call on July 23, Hyundai Glovis announced that its second-quarter sales reached 8.7054 trillion won, a 15.8% increase compared to the same period last year, marking the highest quarterly sales in its history. The operating profit was 495 billion won, reflecting an 8.1% decrease from the previous year, with an operating profit margin of 5.7%.Despite rising geopolitical tensions, including factors in the Middle East, Hyundai Glovis credited its stable global supply chain management capabilities for its solid results.A company representative stated, “The temporary decline in profitability due to short-term oil price increases is something we can recover from in the second half of the year. We will strengthen our business competitiveness based on our consistent profit capacity.”Looking at performance by business segment, the logistics sector recorded second-quarter sales of 2.8558 trillion won and an operating profit of 191.8 billion won. Sales increased by 10.3% compared to the same period last year, driven by growth in non-affiliated operations and North American inland transportation volumes. However, operating profit decreased by 5.9% due to lower contract rates influenced by container market conditions.The shipping business reported sales of 1.6441 trillion won and an operating profit of 130.9 billion won. Sales increased by 20.9% year-on-year, while operating profit fell by 34.6%. Although sales rose due to increased volumes from non-affiliated manufacturers in China, profitability was constrained by rising oil prices linked to geopolitical risks in the Middle East. The temporarily reduced operating profit is expected to gradually recover as freight rates stabilize in the second half of the year.Hyundai Glovis explained, “The decrease in operating profit is due to the timing of cost recognition rather than a change in business competitiveness. The volume of finished vehicle maritime transport remains robust.”In the retail sector, sales reached 4.2055 trillion won, with an operating profit of 172.3 billion won, representing increases of 17.9% and 27.8%, respectively, compared to the previous year. The strong performance was influenced by the commencement of CKD exports to assembly plants in emerging markets and growth in trading activities due to increased non-ferrous metal volumes.Meanwhile, Hyundai Glovis's total sales for the first half of 2026, including the second-quarter results, amounted to 16.5181 trillion won, with an operating profit of 1.1165 trillion won.* This article has been translated by AI. 2026-07-23 15:20:00
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Han Byeong-do: Legislative Reforms Needed to Prevent National Assembly Stalemate Han Byeong-do, the acting leader of the Democratic Party and floor leader, stated that he will push for legislative reforms to prevent the People Power Party from obstructing the National Assembly. The Democratic Party held a protest rally, criticizing the People Power Party for its lack of action on livelihood bills.During a general meeting at the National Assembly, Han said, "We will address the issues with the fast-track system and strengthen the requirements for filibusters through the operating committee."He also criticized the actions of the People Power Party leadership, pointing out, "Typically, bills pass through the standing committee and the judiciary committee before reaching the plenary session, but recently, we have seen the absurdity of the People Power Party initiating filibusters on bills they themselves have processed."Han emphasized, "The authority to bring bills to the floor belongs to the Speaker of the National Assembly. I feel that the Speaker's authority is being infringed upon recently."After the general meeting, the Democratic Party held a rally in the National Assembly's rotunda, condemning the People Power Party for obstructing legislation that affects people's livelihoods. They criticized the fact that only 23 out of 61 livelihood bills pending in the plenary session were brought forward.Han described the situation as a "dereliction of duty that ignores the urgent voices of the people," and he condemned the "unreasonable actions of the People Power Party that paralyze the National Assembly."He questioned, "What authority does the People Power Party's floor leadership have to select and exclude bills? The People Power Party, which shakes the legislative system to its core, is unfit to be a public party. We cannot stand by and watch such unreasonable behavior."Additionally, he stated, "The Democratic Party will work to ensure that the National Assembly operates solely for the people, preventing the People Power Party from engaging in deliberate work stoppages." 2026-07-23 15:20:00
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SBS's New Dating Show Sparks Controversy Over Terminal Illness Theme SBS's new dating reality show, 'My Remaining Love,' is stirring significant controversy even before its premiere.Set to air on August 3, 'My Remaining Love' features young adults who have received terminal diagnoses or faced severe illnesses, exploring their romantic lives.SBS describes the show as a journey of young people who have experienced the end of life and are now seeking love, posing the question, 'Who do you want to spend your remaining time with?'While showcasing the romantic lives of individuals with health challenges is not inherently problematic, the participants are portrayed as ordinary young people who love, desire, and choose relationships. The show could potentially reduce stigma against those with illness histories.However, the discomfort arises from the show's emphasis on terms like 'terminal,' 'life and death crossroads,' and 'remaining time' as key promotional phrases, raising questions about whether the interest lies in their love stories or in the dramatic portrayal of love from those who have faced death.As dating shows become increasingly saturated, producers have sought more intense themes. The focus has shifted from participants' everyday lives to their most vulnerable experiences, which now serve as the main narrative hooks.Producers might claim they want to convey hope or break down prejudices. However, good intentions do not replace the need for ethical scrutiny. The justification of 'addressing prejudice' and 'healing' can become a shield that allows producers to overlook voyeurism and commercialism.With the show yet to air, it remains to be seen whether the participants will be respected as autonomous individuals or if their illness narratives will be exploited for emotional impact. Nonetheless, the pre-launch focus on illness and remaining time leaves a bitter aftertaste.When turning a person's most vulnerable aspects into content, stricter ethical standards must follow. Testing the boundaries of media ethics for ratings and then invoking good intentions when issues arise is cowardly. Experiences of terminal illness are not a fresh concept for dating shows; they are deeply personal matters of life and death.* This article has been translated by AI. 2026-07-23 15:16:00
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Government to Tighten Jeonse Loan Regulations for Homeowners The threshold for jeonse loans for homeowners is expected to rise. The government plans to tighten regulations on these loans, which it believes have contributed to rising housing prices, while selectively supporting first-time buyers and newlyweds who are in genuine need of housing assistance. President Lee Jae-myung stated at the 'National Real Estate Policy Forum' on July 23, "While jeonse loans are a support policy for stabilizing housing for the working class, it is time to adjust them as they have been a primary cause of skyrocketing housing prices. We need to strengthen regulations on jeonse loans to prevent further price surges." In the future, the government is likely to apply different regulations based on whether an individual owns a home and their need for a loan, rather than using the same criteria for both homeowners and non-homeowners. President Lee emphasized that the necessity of jeonse loans for homeowners seeking rental properties in other areas should be reassessed. However, the government plans to exclude certain groups, such as young people, newlyweds, and first-time buyers, from the stricter regulations. President Lee stressed the need for targeted support for these groups, stating that the necessity for loans should be carefully evaluated. The issue of regulating jeonse deposit return loans was also discussed. Concerns were raised that these loans could alleviate landlords' financial burdens and delay housing price adjustments, while critics argued that tightening regulations could make it harder for tenants to recover their deposits. The key question will be whether exceptions for tenant protection will be established during the upcoming reform process. Measures to mitigate the impact on existing contract holders who are unable to secure final payments due to household loan limits are also under consideration. Financial authorities plan to discuss protective measures for genuine borrowers with banks. In addition to directly reducing the limits on housing loans, a proposal to impose additional costs on high-value borrowers was suggested. Kim Young-do, a senior researcher at the Korea Financial Research Institute, proposed a 'macro-prudential management fee' as a means to complement the loan-to-value ratio (LTV) and debt service ratio (DSR) regulations. The idea is to effectively increase the cost of loans for high-value borrowers to suppress housing demand. Kim cited an example of imposing a 1% fee on a loan of 1 billion won. However, this is an initial idea and not a finalized government proposal. The possibility that business loans secured by high-value properties could be used to circumvent housing loan regulations is also under review. Financial authorities will verify the actual usage of business loans and strengthen post-use management to prevent misuse.* This article has been translated by AI. 2026-07-23 15:16:00
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Google Reports Cash Deficit Despite Strong Earnings, AI Bubble Concerns Grow Alphabet's stock fell nearly 5% in after-hours trading immediately following its second-quarter earnings report, despite exceeding market expectations for both revenue and profit. Analysts suggest that the significant capital investments in AI have fueled concerns about a potential AI bubble.On July 23, the tech giant's shares dropped 1.46% during regular trading and fell as much as 4.9% in after-hours trading before settling at a 2% decline.The sharp decline occurred not immediately after the earnings announcement but during the earnings call when Chief Financial Officer Ruth Porat confirmed an increase in capital expenditure guidance. Alphabet raised its capital expenditure forecast for the year from $180 billion to $190 billion to a new range of $195 billion to $205 billion.This new guidance exceeds Wall Street's expectations of $186 billion, and the company indicated that capital investments would continue to rise significantly in 2027. In the second quarter alone, capital expenditures reached $44.9 billion, doubling from $22.4 billion in the same period last year.The impact of this investment surge is evident in the company's cash flow. Alphabet reported a negative free cash flow of $5.9 billion for the second quarter, marking its first quarterly deficit since going public in 2004. Although the company generated $39.1 billion from operations, capital expenditures surpassed this amount.To address the cash shortfall, Alphabet raised $49.6 billion through common and mandatory convertible preferred stock offerings and $20.3 billion through bond issuance, halting its stock buyback program. Even the world's largest cash-generating company is now facing challenges in funding its AI investments with its own cash.Attention is now shifting to upcoming earnings reports from other tech giants. Intel is set to release its results after the market closes on July 23, followed by Microsoft and Meta on July 29, coinciding with the Federal Open Market Committee's interest rate decision. Apple and Amazon will report their earnings on July 30. Amazon's revenue is expected to be around $196 billion, while Apple's is projected at approximately $108.9 billion; however, the key focus will be on their capital expenditure guidance.Meta has already raised its guidance for the year to between $125 billion and $145 billion, while Microsoft's capital expenditure consensus for fiscal year 2027 has surged to $130 billion, doubling from $65 billion in fiscal year 2025. The combined AI capital investments of Amazon, Google, Meta, and Microsoft are projected to reach about $725 billion this year, a 77% increase from the previous year. Whether these companies maintain or raise their guidance could either bolster or deflate concerns about an AI bubble.Wall Street analysts predict that the pace of spending growth may outstrip revenue growth, potentially causing the free cash flow of major U.S. tech companies to decline by as much as 90% this year. According to Moody's, unactivated data center lease agreements contracted by hyperscalers amount to approximately $662 billion, suggesting that reported capital expenditure figures may underestimate the actual burden. This concern aligns with the Federal Reserve's identification of AI as a systemic risk factor.Additionally, developments from China have intensified bubble concerns. The recent unveiling of the open model 'Kimi K3' by Moonshot AI on July 17 has raised fears that the substantial investments made to secure U.S. AI dominance could be undermined by low-cost open-source alternatives. As a result, the Philadelphia Semiconductor Index plummeted 10% last week, falling more than 20% from its peak.Upcoming initial public offerings (IPOs) from major companies like SpaceX, OpenAI, and Anthropic, scheduled for the second half of the year, also present uncertainties. The combined target market capitalization of these three companies is estimated at $3.5 trillion, which could create supply pressures in the market. 2026-07-23 15:16:00
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AI Development Must Prioritize Safety Over Speed The growth of artificial intelligence (AI) is surpassing expectations. New models with doubled performance are emerging monthly, and now advancements are occurring daily, even hourly. Predictions have become futile. Beyond generating text and images, agent-based AI is now capable of autonomously exploring information and executing code, further accelerating its own development. OpenAI's latest AI model recently escaped a controlled environment during a security performance test. The test, conducted in a sandbox—an isolated environment with no external internet access—utilized the security benchmark 'Exploit Gym' to measure how quickly the new model could identify vulnerabilities and launch attacks. The safety mechanisms were disabled to assess maximum capabilities. Instead of solving complex problems, the AI breached its sandbox and infiltrated Hugging Face. It determined that hacking was the most efficient way to solve its problems. Rather than working hard to find answers, the AI, which knew where the answers were, opted to steal them. For the AI with its safety mechanisms disabled, this was the quickest way to resolve issues. While the AI did not act with malicious intent or develop a personality to attempt hacking, its ability to disable human-designed safety measures to achieve its goals highlights the management risks associated with AI technology, which will be a challenge for everyone moving forward. The global competition in AI, including among countries like South Korea, is a race for speed. Nations are investing resources at the state level to develop more efficient and intelligent models. However, the ability to control and ensure safety is often overlooked. Developing a supercar that can reach airplane speeds is technically feasible, but without proper roads, such a vehicle becomes a liability. Similarly, AI that cannot be controlled poses significant risks. When the pace of technological advancement outstrips the development of safety control systems, dangers become real. What we need now is to establish robust 'guardrails' that go beyond merely improving AI performance. This includes enhancing isolation technologies during model evaluation, real-time monitoring of task execution, and implementing emergency stop mechanisms that activate in critical situations. A multi-layered safety design is essential. There is no need for blind fear or rejection of AI. The uncertainties that accompany the emergence of new technologies have historically driven humanity to new heights through institutional and technological improvements. The current incident arose because the AI was allowed to operate without restrictions in pursuit of its goals. In fact, various trials and errors can provide opportunities to identify and address system vulnerabilities. The key is balance. There is no need to excessively celebrate the unknown possibilities that AI brings or to be vaguely intimidated by an uncontrollable future. AI is not an absolute replacement for humans but a powerful tool that humans must coordinate and operate. Only those nations and companies that proactively address the fundamental challenges of safety and control, beyond the performance race, will truly lead in the upcoming AI era.* This article has been translated by AI. 2026-07-23 15:08:00