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Bitcoin Stabilizes at $66,000 Amid Rising Global Oil Prices Bitcoin has been stabilizing around the $66,000 mark after recently surpassing that threshold.As of 8 a.m. on July 23, Bitcoin was trading at $66,008, down 0.39% from the previous day, according to global cryptocurrency market site CoinMarketCap. After recovering the $66,000 level for the first time in nearly a month since June 16, it has struggled to break past the $67,000 mark, showing slight adjustments.Market sentiment improved with rising expectations for the passage of the Clarity Act, a cryptocurrency market structure bill, in the U.S. Congress. However, the surge in international oil prices has reignited inflation concerns, leading to a slight cooling of risk asset sentiment.In fact, U.S. Treasury yields have continued to rise, with the yield on the 10-year Treasury note reflecting inflation fears, increasing by 4 basis points to 4.63%. This is significantly higher than the pre-war level of 3.97% before the conflict between the U.S. and Iran.Major altcoins are also experiencing gains. At the same time, Ethereum rose by 0.91% to $1,936.90, while Solana increased by 0.08% to $77.97. Ripple (XRP) was trading at $1.14, up 0.06%.Meanwhile, on the domestic exchange Bithumb, Bitcoin was trading at 96,436,000 won ($65,203), up 0.44% from the previous day. The so-called 'Kimchi premium,' which indicates the difference between domestic and international prices, was recorded at -1.102%, showing that domestic prices are lower than overseas.* This article has been translated by AI. 2026-07-23 08:32:00 -
Korea's Q2 GDP slows, but annual growth stays above 3% on chip demand SEOUL, July 23 (AJP) -South Korea’s economy grew 0.6 percent in the second quarter, with quarter-on-quarter growth nearly halving from a surprising 1.8 percent jump in the first three months of the year, but maintaining a robust annual pace and staying on track to meet the government's 3.0 percent growth target on strong semiconductor demand, preliminary data showed Thursday. According to the Bank of Korea, gross domestic product expanded 3.7 percent from a year earlier, little changed from the 3.8 percent growth recorded in the first quarter. The moderation in quarterly growth largely reflected weaker capital spending and construction investment amid persistently sluggish domestic demand. Facilities investment rose just 0.2 percent after surging 6.6 percent in the first quarter, although spending on semiconductor manufacturing equipment continued to increase. Construction investment slipped 0.2 percent, compared with a 1.4 percent gain in the previous quarter. Private consumption increased 0.4 percent as spending on household appliances and other goods rose alongside expenditure on restaurants, accommodation and other services, while government consumption edged up 0.2 percent on higher health insurance benefit payments. Services contributed 0.6 percentage point to quarterly growth, double the 0.3 percentage-point contribution from manufacturing, while construction shaved 0.1 percentage point off overall growth. Services output rose 1.1 percent, led by wholesale and retail trade, accommodation and food services, finance and insurance, and information and communications. Manufacturing expanded 1.2 percent as production of computers, electronic and optical products, along with machinery and equipment, increased. The gain was substantially weaker than the 3.9 percent manufacturing expansion recorded in the first quarter, when surging demand for artificial intelligence-related chips powered one of Korea's strongest quarterly performances in years. Construction output fell 1.9 percent as civil engineering activity declined, reversing part of the sector's 2.2 percent rebound in the previous quarter. Agriculture, forestry and fishing contracted 7.1 percent, reflecting weaker crop production and fishing activity. Exports rose 1.4 percent from the previous quarter, supported by semiconductors and machinery and equipment, while imports increased 0.8 percent on stronger purchases of automobiles and machinery. Net exports contributed 0.3 percentage point to quarterly growth, matching the contribution from domestic demand. Investment in intellectual property products climbed 3.3 percent, driven by research and development and software. 2026-07-23 08:25:39 -
Paradise Segasami Continues Safety Management Support for Partners in Third Year Paradise Segasami, the operator of the Paradise City resort complex, is continuing its support for safety management for partners for the third consecutive year. This year, the company will assist 16 partner firms in establishing safety and health management systems and improving risk factors, investing 30 million won in safety and health projects.On July 23, Paradise Segasami announced its participation in the '2026 Large and Small Enterprises Safety and Health Cooperative Project,' promoted by the Ministry of Employment and Labor and the Korea Occupational Safety and Health Agency.This initiative aims to share the safety and health management experience accumulated by large companies with their partners and to jointly implement consulting and improvement activities to prevent industrial accidents.Paradise Segasami has been involved in the project for three consecutive years since 2024. This year, starting with a launch ceremony in March, the company is conducting safety and health management system establishment, risk assessments, and on-site risk factor improvement activities at 16 partner locations.Customized consulting reflecting the specific working environments and industry characteristics of each partner will also be provided. The company plans to check identified risk factors on-site and develop improvement measures while supporting partners in operating their own safety management systems.Additionally, the company will invest over 30 million won in safety and health consulting, educational material production, and safety equipment support. Equipment and items that are highly useful on-site, such as smart fall prevention devices, measuring instruments, and heat illness prevention supplies, will be provided to partners.A representative from Paradise Segasami stated, "We are continuously supporting the creation of a safe working environment with our partners and will continue our cooperative programs to establish a safety management culture centered on the field."* This article has been translated by AI. 2026-07-23 08:24:00
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Paradise Segasami Continues Safety Management Support for Partners in Third Year Paradise Segasami, the operator of the Paradise City resort complex, is continuing its support for safety management for its partners for the third consecutive year. This year, the company will assist 16 partner firms in establishing safety and health management systems and improving risk factors, investing 30 million won in safety and health initiatives.On July 23, Paradise Segasami announced its participation in the '2026 Large and Small Enterprises Safety and Health Cooperative Project,' promoted by the Ministry of Employment and Labor and the Korea Occupational Safety and Health Agency.This initiative aims to share the safety and health management experience accumulated by large companies with their partners and to jointly implement consulting and improvement activities to prevent industrial accidents.Paradise Segasami has been involved in the project since 2024. This year, starting with a launch ceremony in March, the company is conducting activities to establish safety and health management systems, risk assessments, and on-site risk factor improvements at 16 partner locations.Customized consulting reflecting the specific working environments and industry characteristics of each partner will also be provided. The company plans to check identified risk factors on-site and develop improvement measures while supporting partners in operating their own safety management systems.Additionally, the company will invest over 30 million won in safety and health consulting, educational material production, and safety equipment support. Equipment and items that are highly useful on-site, such as smart fall prevention devices, measuring instruments, and heat illness prevention supplies, will be provided to partners.A representative from Paradise Segasami stated, "We are continuously supporting the creation of a safe working environment with our partners and will continue our cooperative programs to establish a safety management culture centered on the field."* This article has been translated by AI. 2026-07-23 08:24:00
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Sonno International Opens First Sonno Bell Hotel in Gampo, Gyeongju Sonno International, a South Korean hotel and resort company, is accelerating its expansion in management contracts with the opening of a new hotel in Gampo, Gyeongju. The hotel has been rebranded under the 'Sonno Bell' name, enhancing the company's portfolio of domestic and international hotel and resort operations.According to Sonno International, the company recently signed a management contract for the 'Sonno Bell Gyeongju Gampo' and officially began operations. A grand opening ceremony was held on July 20 in Gampo, attended by local officials and industry representatives.Sonno Bell Gyeongju Gampo is a rebranded version of the existing four-star 'Best Western Plus Gyeongju.' It is notable for being the first hotel under the Sonno Bell brand to operate through a management contract.The hotel features 170 rooms, all with ocean views, along with dining facilities, a banquet hall, and an outdoor swimming pool. Its location allows guests to enjoy both the historical and cultural attractions of Gyeongju and the scenic coastline of Gampo.With this opening, Sonno International now operates two hotels and resorts in Gyeongju, including 'Sonno Cam Gyeongju.'Currently, Sonno International manages a total of 44 hotels and resorts, including 21 in South Korea and 22 abroad, encompassing approximately 15,000 rooms. The company also operates leisure facilities such as water parks, golf courses, and ski resorts.In South Korea, it manages 'Panac Youngdeok by Sonno Bell' and 'Palatium Haeundae by Sonno Felice,' while its international management contracts extend to 20 hotels and resorts in countries including Japan, Thailand, Indonesia, and Vietnam.Sonno International plans to continue expanding its management and franchise operations, further broadening its hotel management base both domestically and internationally. 2026-07-23 08:20:00
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Meritz Securities: Samsung Electro-Mechanics Set for B2B Shift Driven by AI Demand Meritz Securities analyzed on July 23 that Samsung Electro-Mechanics is poised for a significant shift towards a business-to-business (B2B) model, driven by increasing demand for artificial intelligence (AI). The firm maintained its target price at 3 million won and its investment rating at 'Buy.'Yang Seung-soo, a researcher at Meritz Securities, stated, "Samsung Electro-Mechanics is rapidly transitioning from a consumer-focused parts manufacturer to an AI-centric B2B company. Just as memory semiconductors entered a new profit cycle after improving their B2B structure, Samsung Electro-Mechanics is also likely to enter a boom phase."Meritz Securities forecasts that Samsung Electro-Mechanics will report second-quarter sales of 3.3535 trillion won, a 20.4% increase from the same period last year, and an operating profit of 428.2 billion won, up 101.0% year-on-year. This operating profit is expected to exceed market consensus by 5.9%.Yang identified the expansion of AI-oriented MLCC (multi-layer ceramic capacitors) as a key growth driver. He noted that a recently signed supply contract for AI MLCCs, valued at approximately 450 billion won, surpasses the annual sales of its largest smartphone client.He added, "We are currently in discussions for additional supply contracts with several cloud service providers and semiconductor manufacturers. Each contract signed will lead to a stepwise increase in demand."Yang projected that by 2028, the revenue share from AI-oriented MLCCs will exceed that of traditional IT products, emphasizing that AI MLCCs have higher average selling prices (ASP) and profitability compared to general products. He stated, "This will not only enhance profitability but also drive market strength and price increases due to a reduction in the supply of general MLCCs."Based on the anticipated increase in AI-oriented sales and rising prices of general products, he expects the operating profit margin of the components division to reach 32.0% by 2028, surpassing the previous peak of 31.5% in 2018.He also explained that ABF substrates are rapidly transitioning from a PC-centric focus to an AI data center focus. With ongoing supply shortages and the impact of increased production capacity, he anticipates a significant contribution to overall performance growth starting in 2028.* This article has been translated by AI. 2026-07-23 08:20:00
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'Hope' Tops Box Office for Eight Consecutive Days, Surpassing 2.53 Million Viewers Na Hong-jin's latest film, 'Hope,' has maintained the top spot at the box office for eight consecutive days. According to the Korean Film Council's integrated ticketing system, 'Hope' has recorded a cumulative audience of 2,533,444 since its release, remaining at number one in the box office rankings. The film achieved the highest opening score among Na Hong-jin's works on its first day. It surpassed 1 million viewers on the third day and 2 million on the fifth day, setting a new record for the fastest accumulation of viewers for a film released this year. After exceeding 2 million viewers during its opening weekend, 'Hope' has continued to lead the box office during weekdays, reflecting strong audience engagement. Viewers have praised the film for its immersive storyline, performances, and large-scale production. 'Hope' tells the story of Bum-seok, the head of a local office in the Demilitarized Zone, who faces an unbelievable reality when he hears reports of a tiger sighting from local youths, triggering a state of emergency in the village. This film marks Na Hong-jin's return after a decade since 'The Wailing' and has garnered attention as an official selection in the competition section of the 79th Cannes Film Festival. The cast includes Hwang Jung-min, Jo In-sung, Jung Ho-yeon, as well as Michael Fassbender, Alicia Vikander, Taylor Russell, and Cameron Britton. 'Hope' is currently showing in theaters nationwide.* This article has been translated by AI. 2026-07-23 08:20:00
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Market Preview: Rising Oil Prices Weigh on New York Stocks as Semiconductor Shares Gain Attention The domestic stock market is expected to show a mixed performance due to inflation concerns stemming from rising international oil prices and expectations for increased AI investment by major U.S. tech companies. While the New York stock market declined amid weakness in large tech stocks, shares related to AI servers showed strength, drawing attention to domestic semiconductor stocks.On July 22, the Dow Jones Industrial Average closed down 0.01% at 52,218.58. The S&P 500 index fell 0.14% to 7,498.96, while the Nasdaq Composite dropped 0.57% to 25,690.90.Geopolitical tensions in the Middle East have led to a surge in international oil prices, putting pressure on investor sentiment. Brent crude rose by 3.36%, and West Texas Intermediate (WTI) increased by 2.95%. As oil prices rise, inflation concerns have intensified, leading to an increase in U.S. Treasury yields ahead of next week's Federal Open Market Committee (FOMC) meeting.Among individual stocks, AI server manufacturer Supermicro surged over 19%, while Dell Technologies and Hewlett Packard Enterprise (HPE) also saw gains. Nvidia and Broadcom rose by about 2%. In contrast, SK Hynix's American Depositary Receipts (ADRs) fell by 3.88%, and Micron dropped by 1.17%, with major tech companies like Microsoft, Amazon, Meta, and Alphabet also experiencing declines.After the market closed, Alphabet reported second-quarter revenues of $119.8 billion and operating income of $40.8 billion, exceeding market expectations. Notably, cloud revenue surged 82% year-over-year, driven by increased AI demand. The company also raised its capital expenditure (CAPEX) forecast from $180 billion to $190 billion to a range of $195 billion to $205 billion.However, concerns about profitability due to expanded AI investments weighed on Alphabet's stock, which showed weakness in after-hours trading.Seo Sang-young, a researcher at Mirae Asset Securities, noted, "Alphabet emphasized that AI demand is expanding across search, YouTube, and cloud services, but also mentioned short-term profitability pressures." He explained that the negative free cash flow, along with increased capital expenditures and future earnings uncertainty, contributed to the stock's decline in after-hours trading.Following Alphabet's earnings report, big tech companies like Meta, Amazon, and Microsoft showed weakness in after-hours trading, while semiconductor stocks like Micron rose. This suggests that while AI investment is perceived as a cost burden for big tech, it is seen as a factor that could boost demand for the semiconductor sector.Domestic semiconductor stocks also showed an upward trend before the regular market opened. According to NextTrade, as of 8:03 a.m. on the day, Samsung Electronics was trading at 266,500 won, up 2.30% from the previous trading day, while SK Hynix rose 2.35% to 1,873,000 won.On this day, the domestic stock market is expected to be influenced by rising international oil prices and interest rate uncertainties, while the large-scale AI investment by Alphabet may support investor sentiment in semiconductor stocks like Samsung Electronics and SK Hynix.* This article has been translated by AI. 2026-07-23 08:16:00
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Incheon Coupang Logistics Center Fire Fully Extinguished After 109 Hours The fire at the Coupang logistics center in Incheon has been completely extinguished after approximately 109 hours.According to Yonhap News Agency on July 22, the Incheon Fire Department announced that at 8:35 p.m., it had declared the end of the first response phase, mobilizing all personnel from the local fire station to combat the blaze at the Coupang 32 logistics center in Seohae District, Seongnam-dong.This marks 109 hours and 40 minutes since the fire broke out, and 48 hours and 35 minutes since the initial declaration of controlling the major flames.The fire started on July 18 at 6:54 a.m. on the sixth floor of the eight-story Coupang logistics center, which has a total floor area of 299,000 square meters, and spread to the upper levels.In response to the fire, the authorities issued a first and second response alert and subsequently declared a national firefighting mobilization order, deploying personnel and equipment from eight nearby provinces to focus on extinguishing the fire.A total of 239 pieces of equipment and 845 firefighters were dispatched to the scene.Despite challenges posed by a large amount of combustible materials and the complex building structure, firefighters successfully contained the initial flames after 61 hours, around 8 p.m. on July 20.While 121 individuals, including logistics center employees, evacuated without injury, two firefighters were reported to have received hospital treatment for smoke inhalation and exhaustion.With the fire fully extinguished, the fire department plans to conduct a detailed investigation into the cause of the blaze, structural vulnerabilities, and the extent of the damage, involving a joint investigation team of over 30 members from eight agencies.Additionally, a thorough examination and fire reconstruction experiment will be conducted on the sixth floor, where the fire originated, focusing on logistics equipment, electrical facilities, and stored goods.* This article has been translated by AI. 2026-07-23 08:16:00
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Samsung Biologics posts 30% jump in second-quarter revenue SEOUL, July 23 (AJP) - Samsung Biologics reported a 30 percent rise in second-quarter revenue to 1.32 trillion won ($894 million), lifted by full utilization of its first four plants and a favorable won-dollar exchange rate, the South Korean contract drugmaker said. According to regulatory filings released Thursday, operating profit climbed 23 percent from a year earlier to 586.4 billion won. The robust growth came despite the company's first-ever full walkout, a five-day strike from May 1 that halted some production batches after a parts-handling unit downed tools days earlier, choking the supply of raw materials. Samsung Biologics had estimated related losses at about 150 billion won. Shrugging off that disruption, the company said it expects to reach the upper end of its full-year 2026 revenue growth guidance of 15 percent to 20 percent, citing an expanding contribution from the fifth plant and the Rockville facility alongside the currency tailwind. The firm said it would open a European sales office in the Netherlands during the third quarter, adding to bases in New Jersey and Tokyo, and pointed to its acquisition of peptide specialist PolyPeptide Group and a secured site for a third bio campus as it pushes beyond antibody drugs into mRNA and antibody-drug conjugates. 2026-07-23 08:11:06