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  • Minister Jeong Dong-young: Opening the Door to a Peaceful Two-State Relationship is Our Duty
    Minister Jeong Dong-young: Opening the Door to a Peaceful Two-State Relationship is Our Duty Jeong Dong-young, Minister of Unification, stated on July 23 that it is the ministry's historical duty to open the door to a peaceful two-state relationship on the Korean Peninsula. This message was conveyed in a letter to employees marking his first anniversary in office. In the letter titled 'One Year In Office: A Message to the Unification Family,' Minister Jeong emphasized the importance of having a clear sense of purpose and fulfilling the responsibilities of the Ministry of Unification. Reflecting on the past year, he noted, 'We have completely dispelled the outdated shadow of 'advancing north for freedom' and firmly planted the name 'peaceful coexistence on the Korean Peninsula' within ourselves,' adding that it was no easy task. Minister Jeong urged, 'If we do not take action, nothing will happen,' and stressed that the Ministry should not wait for conditions to improve but should actively work to create them. He indicated that while the past year was a time for assessing and reorganizing the ministry, the focus moving forward will be on performance, capability, and passion in personnel and organizational management. He concluded by encouraging the ministry to remain hopeful about history, stating, 'If we do not stop and give our all, peace on the Korean Peninsula will eventually bloom like an inevitable spring day.'* This article has been translated by AI. 2026-07-23 10:24:00
  • Kim Yong-beom: Independent Competition with US and China is Challenging
    Kim Yong-beom: Independent Competition with US and China is Challenging Kim Yong-beom, head of the Presidential Policy Office, proposed a strategy for South Korea in the AI (artificial intelligence) hegemony competition between the United States and China, suggesting a 'multilateral cooperation' with middle powers. He emphasized that South Korea should lead the development of AI operational models in public service sectors such as healthcare, education, and administration that can be utilized globally.In a Facebook post titled 'In the Age of AI, Nations Connect the World,' Kim stated, "The AI revolution may appear to be a battle between the U.S. and China, but the fundamental technology of high-performance memory largely originates from South Korea." He questioned, "What can we do with our unique position as a country that occupies a crucial role while stepping aside from the center of the hegemony competition?"Kim noted, "With a domestic market of 50 million, it is difficult for South Korea to compete independently with the vast markets of the U.S. and China, which are building data and capital. We need to shift our strategy from 'How can we win alone?' to 'How can we create a platform for collective action?'"He argued that South Korea should take the lead in establishing AI operational methods in public services based on multilateral cooperation.As a basis for South Korea's role, he cited the experience of maintaining a digital ecosystem that is not dependent on global platforms and the international trust built through the Korean Wave.Kim emphasized, "This strategy cannot be pursued by the government alone. Startups operating locally, companies and researchers that can enhance models, operators of data centers, and a supporting talent pool must work together as a single organism. Above all, it is urgent to coordinate the fragmented administration within the government."He added, "If the interests of ministries divided into technology (Ministry of Science and ICT), startups (Ministry of SMEs and Startups), industry (Ministry of Trade, Industry and Energy), finance (Ministry of Economy and Finance, Ministry of Planning and Budget), and diplomacy (Ministry of Foreign Affairs) cannot be integrated under a national vision, the strategy cannot progress. A nation aiming to organize the world must first be able to efficiently organize itself internally."* This article has been translated by AI. 2026-07-23 10:20:00
  • Han Byeong-do Criticizes Oppositions Political Attacks on Real Estate Forum
    Han Byeong-do Criticizes Opposition's Political Attacks on Real Estate Forum Han Byeong-do, acting leader of the Democratic Party and floor leader, stated that President Lee Jae-myung's decision to hold a national forum on real estate policy reflects the government's operational style. He criticized the People Power Party for launching political attacks regarding the sale of the president's residence, calling it a "preconceived political offensive."During a policy coordination meeting at the National Assembly, Han remarked, "The People Power Party has been hurling indiscriminate criticisms even before the forum took place."He added, "In February, they questioned why the president, living in the official residence, had not sold his house, and now they are accusing him of a 'trick sale.'"Han emphasized that the mortgage rights the opposition is concerned about are safety measures in the registration process, considering the buyer's reconstruction rights and the establishment of a balance claim.He further stated, "No matter what choice the president makes, the People Power Party's political tactics will not resolve the public's housing insecurity. What they should do is cooperate on the follow-up legislation for the September 7 supply measures."Meanwhile, President Lee and First Lady Kim Hye-kyung sold their jointly owned apartment in Bundang, Seongnam, for 2.9 billion won, establishing a mortgage of 1.77 billion won. Following allegations that the buyer might be an acquaintance of the president, the Blue House denied any claims of personal connections or special relationships.* This article has been translated by AI. 2026-07-23 10:20:00
  • Volkswagen Strengthens Autonomous Driving Partnership with Chinese AI Firm
    Volkswagen Strengthens Autonomous Driving Partnership with Chinese AI Firm German automaker Volkswagen is enhancing its collaboration with a Chinese artificial intelligence (AI) semiconductor and autonomous driving software company.On July 23, Reuters reported that Volkswagen has decided to strengthen its partnership with the Chinese IT firm Horizon Robotics (known in Chinese as Di Ping Xian, 地平线).In 2022, Volkswagen and Horizon established a joint venture called CariZone in China. CariZone has been developing technology for Volkswagen based on Horizon's autonomous driving systems.Volkswagen plans to further utilize Horizon Robotics' AI-based models through CariZone, accelerating the development of its own AI autonomous driving solutions.The development will focus on Level 3 and Level 4 autonomous driving technologies. Level 3 allows drivers to disengage from monitoring the road under certain conditions, while Level 4 enables vehicles to operate independently in limited environments.Additionally, Volkswagen announced plans to launch vehicles equipped with Level 3 capabilities in the Chinese market in the second half of next year. These vehicles will be sold not only in China but also in overseas markets. Oliver Blume, CEO of Volkswagen, stated, "This collaboration will enhance Volkswagen's competitiveness in the Chinese market while creating new opportunities in some overseas markets."Horizon Robotics is a leading Chinese company in autonomous driving semiconductors and software, founded in 2015 by Yu Kai, a former Baidu executive. The company collaborates with local Chinese automotive brands as well as global firms like Volkswagen, Toyota, and Nissan.* This article has been translated by AI. 2026-07-23 10:20:00
  • Former Minister Won Hee-ryong Appears for Investigation into Highway Route Change
    Former Minister Won Hee-ryong Appears for Investigation into Highway Route Change 원희룡 전 국토교통부 장관이 서울·양평고속도로 노선 변경 의혹에 관한 조사를 받기 위해 2차 종합 특별검사팀(권창영 특별검사)에 23일 출석했다.특검은 이날 오전 10시부터 직권남용권리행사방해 혐의로 원 전 장관에 대한 첫 피의자 신분 조사를 진행 중이다. 원 전 장관은 이날 오전 경기 과천시 특검 사무실에 출석해 기자들과 만나 "(특검이) 1년 넘게 고속도로 특혜를 줬다는 이유로 수사하다가 도저히 안 되는지 이제 와서는 수사 대상을 백지화 선언으로 바꿀 모양인 것 같다"며 "어떻게든 엮어보겠다는 의도를 가지고 있지만, 위법 사실이 없어 특검의 의도대로 되지 않을 것"이라고 설명했다. '양평고속도로 노선 변경 과정에서 김건희 여사 일가의 토지가 있는 것을 알았냐'는 질문에는 답변하지 않고 사무실 안으로 향했다.이날 특검 사무실 앞에는 원 전 장관의 지지자들이 모여 "원희룡"을 연호하기도 했다. 앞서 특검은 원 전 장관에게 출석에 응할 것을 두 차례 통보했지만, 폐문부재로 전달되지 않았다. 이후 특검은 지난 15일 원 전 장관에 대한 강제 수사에 착수해 휴대폰 등을 확보했다. 서울·양평고속도로 종점 노선 변경 의혹은 윤석열 정부 출범 후 고속도로 노선 종점이 경기 양평군 양서면에서 김건희 여사 일가 소유의 땅이 있는 강상면으로 바뀌었다는 것이 핵심이다. 원안인 양서면 종점 노선은 2021년 예비타당성 조사까지 통과했으나, 국토부가 2023년 5월 강상면을 종점 노선으로 다시 검토하면서 김 여사 특혜 의혹이 불거졌다. 이후 원 전 장관은 2023년 7월 사업 백지화를 선언했다. 특검은 이 과정에서 '법 위반 소지가 있다'는 법률 자문을 받고도 이런 의견을 묵살한 것으로 의심한다.앞서 김건희 특별검사팀(민중기 특별검사)은 특혜 의혹에 연루된 국토부 서기관 김모씨 등을 직권남용권리행사방해 혐의로 기소했지만, 그 정점으로 지목된 원 전 장관의 혐의를 밝히지 못한 채 수사를 마쳤다.* This article has been translated by AI. 2026-07-23 10:16:00
  • Koreas Fair Trade Commission Strengthens Oversight of Corporate Investments
    Korea's Fair Trade Commission Strengthens Oversight of Corporate Investments The Fair Trade Commission (FTC) is intensifying its scrutiny of investment maneuvers by large corporations. The agency aims to prevent circumvention of investment bans through venture capital (CVC) and to block guarantees using special purpose companies (SPC).On July 23, the FTC announced that it will prepare a revision of the 'Enforcement Decree of the Monopoly Regulation and Fair Trade Act,' which will be open for public comment until September 1. This revision is designed to strengthen regulations against illegal activities related to holding companies and improve the system of independent management for family members.The FTC has introduced new categories of illegal activities related to CVCs under general holding companies. Current law allows CVC ownership as an exception to the principle of separation of banking and commerce. However, to prevent adverse effects, direct investments in designated prohibited investment targets, such as affiliates or family-owned companies, are restricted.Previously, CVCs had been able to evade regulations by participating as limited partners (LP) in external investment partnerships and investing in prohibited targets. The revision will classify investments made by CVCs in funds primarily aimed at investing in prohibited companies, either directly or through the management of investment partnerships, as 'illegal activities.'Additionally, the regulations prohibiting debt guarantees for companies within mutual investment-restricted conglomerates will be reinforced. Following the ban on debt guarantees related to loans from financial institutions, some companies used SPCs to secure loans, leading to irregularities where other affiliates entered into acquisition agreements. The FTC plans to define these similar debt guarantee activities conducted through SPCs as illegal as well.The FTC will also amend regulations that have allowed family-owned companies to slip through the cracks of profit-seeking regulations. Under the current system, if a family member of the same individual is recognized as independently managed and separated from the corporate group, that family member is not considered a related party even if they later serve as an executive in an affiliate of the same individual.The revision will establish a legal basis to revoke the exclusion of family members from being considered related parties if they serve as executives in companies affiliated with the same individual. This will apply to reappointments and extensions of terms, thereby closing potential loopholes for regulatory evasion due to the prohibition of retroactive application.An FTC official stated, "We plan to finalize and implement the revision after gathering opinions from stakeholders and relevant ministries during the public comment period, followed by a review by the Legislation and Judiciary Committee."* This article has been translated by AI. 2026-07-23 10:16:00
  • TikTok Fined $9.2 Million for Collecting User Data for Targeted Ads
    TikTok Fined $9.2 Million for Collecting User Data for Targeted Ads TikTok has been found to have collected data on what users clicked on and purchased from other shopping sites, using this information for targeted advertising. The Personal Information Protection Commission (PIPC) imposed a fine of 10.3 billion won ($9.2 million) on TikTok for collecting and using personal data without proper consent and transferring it abroad.On July 22, the PIPC held a full meeting and announced that it had imposed a total fine of 10.558 billion won ($9.3 million) on TikTok and an Apple subsidiary for violating the Personal Information Protection Act. TikTok received a fine of 10.306 billion won ($9.2 million) along with corrective and disclosure orders, while the Apple subsidiary was fined 252 million won ($220,000).The investigation revealed that TikTok distributed behavioral data collection tools to other website and app operators while providing advertising and content performance analysis services. This allowed TikTok to collect user activity records, including clicked products, purchase history, items added to carts, inquiries, and downloads, linking this data to TikTok accounts and device identifiers to analyze user interests and preferences for targeted advertising.According to the PIPC, approximately 71,000 companies in South Korea are using this collection tool, resulting in the collection of behavioral data from about 9.45 million active users in the country.The PIPC determined that TikTok lacked legal grounds, such as user consent, for the collection, use, and transfer of personal data abroad. Consequently, it imposed fines along with corrective and disclosure orders for violations of the Personal Information Protection Act.An Apple subsidiary was also included in the sanctions. The PIPC's investigation found that Apple collected and used transcripts of user voice recordings from its voice assistant service, Siri, without obtaining separate consent while improving its voice recognition capabilities.However, during the investigation, Apple improved its procedures to allow users to directly choose whether to collect transcripts and implemented features to automatically filter out personal information included in the transcripts. The company also revised its privacy policy to correct the violations, resulting in a fine of 252 million won ($220,000).* This article has been translated by AI. 2026-07-23 10:16:00
  • SK Hynixs Success Story Faces New Challenges Ahead
    SK Hynix's Success Story Faces New Challenges Ahead A domestic semiconductor company that was once on the brink of bankruptcy has emerged as a major beneficiary of the artificial intelligence (AI) revolution. SK Hynix, which had long been in Samsung Electronics' shadow as the 'perennial second place,' has solidified its position as the world's leading supplier of high-bandwidth memory (HBM), a key component in AI semiconductors, transforming the global semiconductor landscape.According to a recent report by The Economist, SK Hynix now faces its true test. While the company is enjoying unprecedented success fueled by a surge in AI investments, the cyclical nature of the memory industry, characterized by oversupply and plummeting prices, could resurface at any time.Some securities firms have pointed out that if big tech companies struggle to secure funding for AI investments after next year, SK Hynix's revenue could be halved, leading to a sharp decline in profitability. There are also concerns that increased production from emerging Chinese memory companies could exacerbate the risk of oversupply.Political pressure for investment is intensifying both domestically and internationally. U.S. Secretary of Commerce Gina Raimondo publicly urged Samsung and Hynix to build factories in the U.S. during a groundbreaking ceremony for Micron's facility in New York earlier this month. South Korean President Yoon Suk Yeol has requested the expansion of production facilities in the relatively underdeveloped southwestern region of the country.In the early 2000s, the memory semiconductor market faced severe downturns, pushing the company, then known as Hynix Semiconductor, to the brink of bankruptcy. Revenue plummeted to half its previous levels, and its market capitalization fell to around $500 million. Over the next decade, Hynix underwent rigorous restructuring, narrowly avoiding a takeover attempt by U.S. memory firm Micron.The turning point came in 2012 when SK Group acquired Hynix, allowing it to rise to a level of parity with its long-time rival Samsung Electronics, even briefly surpassing it in market capitalization in June. In the HBM sector, a critical product in the AI era, Hynix has taken the lead over Samsung.The AI boom has dramatically increased Hynix's corporate value, with its market capitalization surpassing $1 trillion in May. On July 10, the company went public on the Nasdaq, raising $26.5 billion, the largest amount ever for a foreign company.However, the stock price fell slightly the day after the listing due to investor concerns over the high valuations of semiconductor companies. Nevertheless, compared to early last year, the stock price has increased tenfold (1,000%). The funds raised from the IPO, along with cash generated from operations over the past year, will be invested in expanding production capacity.SK Group Chairman Chey Tae-won announced last month that the company plans to double its overall production capacity over the next five years, reflecting explosive market demand. Recent quarterly revenue has tripled compared to the same period last year.While Hynix did not create the AI boom, The Economist notes that the company's ability to seize the opportunity for revival is remarkable. The semiconductor industry requires massive capital and cutting-edge technology, making it difficult for latecomers to surpass established leaders.What is the secret behind Hynix's turnaround? The Economist attributes it to agility. In the early 2010s, Samsung held about 40% of the memory market, while Hynix's share was around 25%. The second-place company, overshadowed by Samsung, began seeking new breakthroughs to surpass its competitor.Hynix recognized that merely shrinking semiconductors would limit performance improvements. Instead of further miniaturizing chips, the company focused on developing new technologies that could bypass physical limitations, as reflected in the recollections of former CEO Park Sung-wook, who led the company from 2013 to 2018.The Economist identifies 2008 as a turning point when AMD, then trailing Intel, proposed developing stacked memory for graphics processing units (GPUs) in collaboration with Hynix. The two companies had previously succeeded in developing earlier generations of graphics memory products together.Hynix's first HBM product, launched in 2013, was too expensive to achieve significant commercial success. However, it proved that vertically stacking memory chips could deliver speeds far superior to existing products.Rival missteps provided opportunities for further advancement. In 2019, Samsung reduced its HBM team to invest in other types of chips, prompting engineers who believed in the technology's future to leave for Hynix. Intel engineers, struggling with product delays, also joined Hynix.Corporate culture has played a crucial role as well. While Samsung is known for its harsh meritocracy that fosters internal competition, Hynix embraces collaboration, allowing engineers to research without fear of failure. Failed projects are treated as 'case studies' to learn from, leading to innovations like the 'mass reflow molded underfill (MR-MUF)' technology that fills gaps between stacked chips with molding liquid to dissipate heat.In 2022, Hynix became the first to launch the fourth-generation HBM3, establishing itself as the sole supplier of advanced memory for NVIDIA, the king of AI chips.Can Hynix continue its upward trajectory? The company has never led a booming market before. Competition is intensifying, with Samsung and Micron set to supply HBM for NVIDIA's next-generation AI server platform, 'Vera Rubin.' Samsung is also regaining competitiveness in the existing memory market with its general-purpose DRAM.Global memory market leaders Samsung, Hynix, and Micron have all announced astronomical investment plans. Samsung and Hynix plan to invest over $2 trillion by 2040 to create the world's largest semiconductor mega-cluster in Yongin.However, The Economist warns that explosive demand and fierce competition heighten the risk of over-investment, a phenomenon that has recurred during boom periods in the highly volatile memory semiconductor industry.During the last memory boom in 2018, Hynix invested 40% of its revenue in facilities, but the following year, as server market growth slowed, memory prices plummeted by half. Hynix's revenue also fell by 33%, and operating profit dropped by 87% due to the industry's high fixed costs.Hynix has stated it will limit capital expenditures to one-third of its revenue, demonstrating its commitment to avoid repeating past mistakes. In fact, over the past year, the ratio of capital investment to revenue has averaged around 22%. Hynix has also secured long-term supply contracts under much stricter conditions, allowing for better sales forecasts over the coming years.Nonetheless, risks remain, according to The Economist. Memory prices, which have nearly increased tenfold over the past year, are likely to peak next year. There are concerns that Hynix's revenue could decrease by 45% by 2028 as Chinese memory companies like CXMT and YMTC grow, potentially exacerbating oversupply.Hynix has announced plans to invest over $260 billion to establish new semiconductor clusters in Honam, but The Economist cautions that dispersing production facilities while top talent and partners are concentrated in the capital region could pose risks. The pressure and responsibility that come with significant success are also increasing.* This article has been translated by AI. 2026-07-23 10:12:00
  • Lotte Shopping Shares Plummet After Shin Dong-bin Announces Stake Sale
    Lotte Shopping Shares Plummet After Shin Dong-bin Announces Stake Sale Shares of Lotte Shopping are plummeting following news that Shin Dong-bin, chairman of Lotte Group, plans to sell part of his stake to secure cash liquidity. The significant stake sale has raised concerns about potential oversupply, dampening investor sentiment.As of 10:05 a.m. on July 23, Lotte Shopping shares were trading at 124,100 won, down 10,300 won (7.66%) from the previous trading day. At one point, the stock fell by as much as 12.12%, reaching 118,100 won.According to the Financial Supervisory Service's electronic disclosure system, Shin announced plans to sell 324,100 common shares of Lotte Shopping, which represents 1.15% of the company's total shares.The sale is scheduled to take place from August 21 to September 18. Depending on market conditions, block trades may also be conducted. The expected selling price is based on the closing price of 130,400 won on July 21, which would yield an estimated transaction value of approximately 42.2 billion won.Given the substantial volume of shares Shin intends to sell, there is growing apprehension about the supply pressure on the stock price. The actual sale is set to begin next month, leading to concerns that the market may be preemptively reacting to the anticipated influx of shares. However, the actual transaction volume and price may vary based on market conditions at the time of sale.If the transaction proceeds as planned, Shin's holdings in Lotte Shopping will decrease from 2,893,049 shares to 2,568,949 shares, reducing his ownership stake from 10.23% to 9.08%.Shin stated that the purpose of the stake sale is to secure cash liquidity. If the sale goes through as planned, he will raise approximately 4.23 billion won.* This article has been translated by AI. 2026-07-23 10:12:00
  • Transforming Ports into Intelligent Robots: The Dawn of Physical AI Innovation
    Transforming Ports into Intelligent Robots: The Dawn of Physical AI Innovation The South Korean government is set to enhance its ports with artificial intelligence (AI) technology, aiming for a transformation into smart ports. The initiative envisions creating ports that function as a single intelligent robot by securing a foundation in Physical AI technology and revitalizing the related industrial ecosystem.On July 23, the Ministry of Oceans and Fisheries unveiled its 'Physical AI Port Strategy' during the 11th Science and Technology Ministers' Meeting. The ministry presented the vision of 'Leading Global Smart Ports through K-Physical AI.' To achieve this, it will implement four key strategies: securing a foundation for Physical AI port technology, innovating ports and backward areas based on domestic technology, revitalizing the Physical AI port industry ecosystem, and refining institutional and implementation foundations.To achieve port autonomy, the ministry plans to develop technologies that enable port cranes and automated guided vehicles (AGVs) to autonomously perceive and assess their surroundings during operations. Additionally, it aims to accelerate the development of unmanned technologies for high-risk tasks such as securing and dismantling container fastening devices, as well as a port operation system that utilizes AI to analyze real-time port conditions and optimize overall operations.The ministry is also considering establishing a 'Advanced Port Technology Center' at Gwangyang Port, which would link real and virtual ports. This center would consolidate common support functions such as data collection and technology verification, providing on-site support for technology development and application.Furthermore, the ministry is pushing for innovation in ports and backward areas based on domestic technology. It plans to fully implement research and development (R&D) outcomes at Jinhae New Port, establishing it as a leading model for Physical AI ports in its first phase. Based on this initial phase, the ministry anticipates the creation of a 25 trillion won market for AI port technology, including autonomous handling equipment.In addition, the ministry aims to establish a specialized AI data center for ports, build smart shared logistics centers, and create a convergence port AI transformation (P. AX) cluster that integrates manufacturing, ports, and logistics, positioning backward areas as hubs for Physical AI innovation.The strategy also includes measures to revitalize the Physical AI port industry ecosystem. An 'AX Support Platform' will be established to assist in the design and development of AI agents, and the ministry will leverage funds from the Korea Maritime Promotion Corporation to encourage autonomous market expansion.Through government-to-government cooperation and private networks, such as the 'Korea-UAE Physical AI Port and Logistics Project,' the ministry will support the overseas market entry of the port technology industry. To this end, the government, port corporations, operators, and equipment companies will work as a unified team to develop 'K-Physical AI Port Solutions' and support the exploration of overseas markets for large package projects.Finally, the ministry will revise the 'Port Technology Industry Act' to establish a legal foundation for the transition to Physical AI ports. The law will encompass Physical AI equipment and systems for ports and broaden cooperation with other sectors through participation in the Physical AI Alliance.Minister of Oceans and Fisheries Hwang Jong-woo stated, "Our country, which has strengths in both manufacturing and AI, has a great opportunity to seize technology and market leadership. We will actively support the entire process from technology development to commercialization, enhancing the national logistics competitiveness and underpinning Korea's rise as a top three AI powerhouse."* This article has been translated by AI. 2026-07-23 10:12:00