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Ruling Party's Legal Committee Prioritizes Quality Over Speed in Criminal Procedure Law Revisions Kim Seung-won, the chair of the Democratic Party's Legal Committee, stated on July 23 that there is no set timeline for processing the amendment to the Criminal Procedure Law, which focuses on abolishing supplementary investigation rights. This comment comes as the Justice Innovation Party pressures for the amendment to be completed by the end of July.After concluding the review of the amendment at the National Assembly, Kim told reporters, "The goal of the review is to enhance the quality of the bill." The meeting was attended only by members of the ruling coalition, as the People Power Party was absent. It is expected that the People Power Party members will join after the election of seven committee chairs in the afternoon session.Kim emphasized, "Judicial processes must proceed and operate without inconvenience." He added, "The longer the discussions drag on, the more various suspicions may arise, so I believe we need to handle this efficiently and swiftly."Meanwhile, Kim Jun-hyung, acting leader and floor leader of the Justice Innovation Party, along with lawmakers Jeong Chun-sang and Cha Kyu-geun, visited Seo Young-kyu, the chair of the Legal Committee, to urge the processing of the amendment.After the meeting, Kim stated to reporters, "Chair Seo fully agreed with the premise that the prosecution should not conduct investigations." When asked if they would take measures if the amendment is not passed by July, he replied, "I believe it will be processed, and if any variables arise, we will discuss it again with the new leadership of the Justice Innovation Party." The Justice Innovation Party is set to hold a national convention on July 25 to elect new leadership.* This article has been translated by AI. 2026-07-23 12:36:00 -
President Lee Calls for Review of Capital Gains Tax Exemption for Homeowners 이재명 대통령은 1가구 1주택자의 양도소득세 감면 혜택을 제한하는 방안에 대해 검토가 필요하다는 입장을 밝혔다.이 대통령은 이날 한국방송(KBS) 별관에서 열린 ‘부동산정책 국민 대토론회’에서 이광수 광수네복덕방 대표가 “양도세 감면을 해주는데 1가구 1주택자에 대해 생애 1회로 제한해야 한다”고 말하자 “생애 1회로 할지는 모르겠지만, (감면) 기회를 무한대로 주는 것은 사실 좀 문제가 있어 보이긴 한다”고 말했다.이 대표는 “집을 살 때부터 ‘평생 살 집을 산다’는 마음으로 접근하도록 제도를 바꾸는 것이 시장 안정에도 도움이 될 것”이라고 짚었다. 이 대통령은 “횟수를 제한하든지 아니면 첫 번째는 (감면을) 많이 해주고, 두 번째는 덜 해주고. 그거 좋은 생각인 거 같은데 고민해 보면 좋을 거 같다”고 전했다.또한 그는 “총액으로 제한할 수도 있고, 여러 차례 고가 주택을 사고파는 경우에 대해서도 (감면) 똑같이 해줘야 하냐는 건 일리 있는 지적”이라고 말했다.* This article has been translated by AI. 2026-07-23 12:28:00
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Samsung unveils new Galaxy foldable lineup SEOUL, July 23 (AJP) - Models pose with the Galaxy Z Flip8, Z Fold8, and Z Fold8 Ultra (from left) during a photo event at KT West Building in Gwanghwamun, Jung-gu, Seoul, marking the release day of the Galaxy Fold8 series, July 23, 2026. 2026-07-23 12:16:23 -
Samsung unveils new Galaxy foldable lineup SEOUL, July 23 (AJP) - Models pose with the Galaxy Z Flip8, Z Fold8, and Z Fold8 Ultra (from left) during a photo event at KT West Building in Gwanghwamun, Jung-gu, Seoul, marking the release day of the Galaxy Fold8 series, July 23, 2026. 2026-07-23 12:13:57 -
Samsung unveils new Galaxy foldable lineup SEOUL, July 23 (AJP) - The Galaxy Z Fold8 Ultra, Fold8, and Flip8 are unveiled at KT's Gwanghwamun building in Seoul, July 23, 2026. 2026-07-23 12:12:00 -
President Lee Addresses Housing Issues at National Real Estate Forum President Lee Jae-myung stated on July 23 that "the phenomenon of a single, high-value property has caused serious issues in our society," adding, "Because we do not distinguish between residential and speculative properties, significant problems have arisen from a small loophole."During the 'National Real Estate Policy Forum' held at KBS in Yeouido, Seoul, President Lee responded to a comment from Jeong Se-eun, a professor at Chungnam National University, who argued that policies should focus on the bottom 50% of the population without housing.He explained, "The intention of the policymakers at the time was to respect and protect the principle of one household, one home. As a result, properties were treated the same regardless of their price, leading to a situation where individuals could efficiently purchase one property and reap investment benefits."He emphasized, "The lack of distinction between residential and investment properties has led to significant issues arising from a small loophole."He further noted, "In South Korea, the pressure for investment and speculation is so high that even a small gap can lead to a major explosion of issues. This seems to be one of the problems we face."President Lee remarked, "The prices of leading apartments tend to pull up other prices, creating a 'matching' effect. One idea to regulate this is to impose restrictions on ultra-high-value properties. By doing so, we hope to gradually reduce the pressure in the market."* This article has been translated by AI. 2026-07-23 12:04:00
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First 'Public Forum' to Discuss Bilingual Signage at Gwanghwamun Two hundred citizens and experts will gather to engage in a heated discussion about the 'bilingual signage at Gwanghwamun.'The Ministry of Culture, Sports and Tourism and the Ministry of the Interior and Safety announced on July 26 that they will hold the first 'Public Forum' at Yonsei University's Baekyangnuri, focusing on the topic of 'bilingual signage at Gwanghwamun.'The 'Public Forum' is designed to broadly incorporate diverse public opinions into the policy-making process. Two hundred citizens, selected through a prior application process, will attend to share various viewpoints and gain a deeper understanding of differing perspectives. The forum will not only exchange simple pro and con opinions but will also explore policy issues from multiple angles, including history and culture, in search of practical policy directions.The forum will feature expert presentations, small group discussions involving citizens, and a general discussion format, allowing participants to share their views and collectively summarize their final positions. The event will be live-streamed on KTV's YouTube channel, and participants will be able to express their opinions in real-time through mobile voting.Experts from various fields, including cultural heritage, history, the Korean language, and urban landscape, will participate in the presentations and discussions. Lee Sang-yeol, head of the Korea Culture and Tourism Institute, will present a summary of the public discourse and feedback collected so far. Park Hyun-mo, director of the Sejong National Management Institute, Jeong Jae-hwan, co-representative of the Korean Language Culture Association, Kim Hyun-kyung, a professor at the Korea National University of Cultural Heritage, and Bae Ung-kyu, a professor at Chung-Ang University, will continue with presentations and discussions. The session will be chaired by Yang Hyun-mi, a professor at Sangmyung University.During the discussions, citizens and experts will exchange views on the nature of Gwanghwamun, the validity of installing bilingual signage, and the significance of cultural heritage preservation.The government plans to broadly reference the diverse opinions presented at this forum in future policy review processes. Additionally, it aims to continuously develop the 'Public Forum' as a representative deliberative platform for citizens to directly participate in the policy formation process.* This article has been translated by AI. 2026-07-23 12:04:00
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Yoo Ui-dong Named Candidate for Land and Transport Committee Chair Yoo Ui-dong of the People Power Party was named the candidate for the chair of the Land and Transport Committee on July 23 through an internal party election.The four-term lawmaker received 49 out of 97 votes, narrowly defeating three-term lawmaker Kim Jung-jae by just one vote during the election held at the General Assembly.Yoo expressed his feelings, stating, "I feel a heavy responsibility taking on such an important role despite my many shortcomings. I will do my utmost to address the soaring housing prices and exorbitant rental costs that are burdensome for the vulnerable and young people."However, there were some controversies surrounding Yoo's candidacy, as he was not included in the list of candidates agreed upon by three-term lawmakers. The breakdown of this agreement is expected to lead to some backlash. In this regard, lawmaker Im I-ja expressed her concerns, saying, "As a three-term lawmaker, I feel heavy-hearted seeing the election for the Land and Transport Committee chair proceed despite the agreed-upon terms."During his presentation, Yoo noted, "When I was a three-term lawmaker, I was the youngest. I was told, 'How about letting a younger person take the committee chair in the fourth term?' and I made concessions. If the belief that there will be future opportunities disappears, fierce competition over positions will continue in the future."In addition to Yoo, other candidates who ran unopposed for various committee chair positions include Kim Hee-jung (Education Committee), Song Seok-jun (Foreign Affairs and Unification Committee), Kim Sung-won (Industry, Trade, and Small and Medium Enterprises Committee), Lee Man-hee (Health and Welfare Committee), Lee Yang-soo (Information Committee), and Im I-ja (Gender Equality and Family Committee). These candidates are expected to be officially elected during the plenary session scheduled for later that afternoon.Following the selection process for committee chair candidates, the People Power Party is anticipated to announce the list of committee members, including secretaries, as early as that day.Meanwhile, floor leader Jung Jeom-sik encouraged lawmakers during the General Assembly, stating, "The seven committees can play a key role in checking the government and the ruling party. Let us prepare for the day when we can restore the National Assembly by fiercely checking and fighting with determination and resolve."He also remarked, "This is an unprecedented situation where the right to a single vote has been violated. We must rigorously investigate the truth through the concurrent promotion of a national investigation and a special prosecutor's inquiry," officially proposing an extension of the investigation period related to the infringement of voting rights to the Democratic Party.* This article has been translated by AI. 2026-07-23 12:00:00
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KOSPI Rises as Foreign Investors Return, Approaching 7000 Points The KOSPI index is continuing its upward trend, rising over 2% thanks to significant net purchases by foreign investors. Expectations for increased investment in artificial intelligence (AI) by Alphabet have boosted semiconductor stocks, including Samsung Electronics and SK Hynix, contributing to the index's gains. As of 11:34 a.m. on July 23, the KOSPI had risen 151.38 points (2.23%) to reach 6949.08, according to the Korea Exchange. In the securities market, foreign investors have made net purchases of 1.2026 trillion won, driving the index higher. Institutions have also net bought 51.6 billion won, while individual investors have net sold 1.2205 trillion won. Among the top market capitalization stocks, Samsung Electronics is trading at 266,000 won, up 2.11% from the previous trading day, while SK Hynix has risen 2.02% to 1,867,000 won. Other gainers include Samsung Electro-Mechanics (up 3.87%), LG Energy Solution (up 3.89%), and Samsung Life Insurance (up 2.34%). Conversely, SK Square has seen a decline of 1.34%. Alphabet's upward revision of its capital expenditure (CAPEX) forecast has been interpreted as a sign of increased demand for semiconductors due to expanded AI infrastructure investment. The company's cloud revenue for the second quarter surged 82% year-on-year to $24.8 billion, and its annual CAPEX forecast has been raised from the previous range of $180 billion to $190 billion to a new range of $195 billion to $205 billion. Lee Kyung-min, a researcher at Daishin Securities, noted that Alphabet's cloud revenue has seen a significant increase, and the upward revision of this year's CAPEX forecast suggests substantial capital investment is expected next year, supporting expectations for AI infrastructure and semiconductor demand. The KOSDAQ index is also on the rise. At the same time, the KOSDAQ index has increased by 13.09 points (1.74%) to 764.18. Institutions have net bought 49.4 billion won, while individual and foreign investors have net sold 46 billion won and 5.4 billion won, respectively. Among the top KOSDAQ stocks, Alteogen has surged 8.21%. Other gainers include EcoPro (up 4.67%), EcoPro BM (up 4.00%), and ABL Bio (up 3.03%). However, JUSUNG Engineering (-2.53%), Peptron (-2.23%), and Wonik IPS (-1.61%) are experiencing declines. After briefly surpassing the 7000-point mark, the KOSPI has retraced some of its gains. However, with strong net buying from foreign investors continuing, attention will remain on the performance of semiconductor stocks like Samsung Electronics and SK Hynix, as well as the KOSPI's potential recovery of the 7000-point level in the afternoon.* This article has been translated by AI. 2026-07-23 11:44:00
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Bank of Korea Revamps Financial Support Loans for SMEs The Bank of Korea is set to revise its financial support loan system to allow for flexible adjustments in loan limits and interest rates for small and medium enterprises (SMEs), while also enhancing support for regional SMEs.On July 23, the Bank's Monetary Policy Committee approved the proposed changes to the financial support loan regulations.The financial support loan system is a policy tool that enables the Bank of Korea to provide low-interest funds to financial institutions, aimed at assisting SMEs that face relatively challenging funding conditions.Currently, the total loan limit provided to banks is predetermined, with allocations made based on specific criteria. However, concerns have been raised about the rigidity of support levels, which have remained fixed for an extended period, making it difficult to respond flexibly to changing economic conditions.There are also worries that the system has not adequately reflected changes in policy conditions, such as the expansion of the economy, leading to diminished effectiveness.In response, the Bank of Korea has decided to enhance the functionality of the financial support loan system as a monetary policy tool.Starting in the second half of next year, the Bank will introduce a new 'SME Credit Linkage Support' program that will allow for flexible adjustments in loan limits and interest rates based on economic conditions, targeting all SMEs rather than specific sectors.Loan allocations will be based on the quarterly net increase in SME loans from banks, rather than on pre-established criteria.To expand support for SMEs located in regional areas, the limit for the 'Regional SME Support' program will also be increased starting in the first half of next year. Despite the growth of regional economies, the limit has remained fixed at 5.9 trillion won since 2014.The distribution of the increased limit for the regional SME support program will be determined by comprehensively considering changes in financial and economic conditions.Additionally, the Bank plans to gradually reduce and phase out the 'Trade Finance Support' and 'New Growth and Job Support' programs, which have been operated with a quasi-fiscal nature for an extended period.* This article has been translated by AI. 2026-07-23 11:44:00