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  • Foreign holdings blunt Koreas wealth gains
    Foreign holdings blunt Korea's wealth gains SEOUL, July 22 (AJP) - South Korea's national wealth grew at less than half the previous year's pace in 2025, as a record rally in domestic stocks produced an accounting paradox: rising share prices boosted household wealth but simultaneously eroded the country's net financial position by 326 trillion won ($229 billion) as the value of Korean equities owned by foreign investors surged. National net worth rose 2.2 percent, or 531 trillion won, to 24.56 quadrillion won at the end of 2025, slowing sharply from a 5.0 percent increase, or 1.14 quadrillion won, a year earlier, according to preliminary national balance sheet data jointly released Wednesday by the Bank of Korea and the Ministry of Data and Statistics. The slowdown came despite robust gains in real assets. Non-financial assets climbed 857 trillion won, or 3.8 percent, to 23.29 quadrillion won as land and housing prices continued to rise. But net financial assets fell 20.4 percent to 1.27 quadrillion won after financial liabilities expanded by 3.12 quadrillion won, outpacing the 2.79 quadrillion won increase in financial assets. The main driver was South Korea's surging equity market. The benchmark KOSPI advanced 75.6 percent during 2025, far outperforming the S&P 500's 16.4 percent gain and the Euro Stoxx 50's 18.3 percent rise. Because Korean shares owned by overseas investors are recorded as external financial liabilities under the national accounts, the rally sharply increased the country's liabilities to non-residents. The appreciation of those holdings exceeded gains on overseas equities owned by Korean investors, generating a 505 trillion won negative valuation effect on equity and investment fund positions and turning overall financial valuation gains from a positive 440 trillion won in 2024 to a negative 486 trillion won in 2025. Real assets continued to underpin wealth creation. Land values rose 554 trillion won, or 4.6 percent, to 12.66 quadrillion won, while the market value of housing increased 571 trillion won, or 8.0 percent, to 7.71 quadrillion won, the fastest increase since 2021. Nearly 93 percent of the increase in housing values came from the Seoul metropolitan area, underscoring how concentrated the property recovery remained. The asset rally substantially strengthened household balance sheets. Net wealth held by households and nonprofit institutions jumped 9.0 percent, or 1.17 quadrillion won, to 14.20 quadrillion won, the strongest increase in four years. Household net financial assets increased by 674 trillion won and non-financial assets by 494 trillion won, helped by a 534 trillion won increase in housing values and a 525 trillion won gain in equity and investment fund holdings. The same market rally had the opposite effect on non-financial corporations. Their net worth fell 21.6 percent, or 1.01 quadrillion won, as the higher market value of listed shares they had issued was recorded as an increase in financial liabilities under national accounting rules, outweighing gains in their real assets. Officials said 60 percent of last year's increase in national wealth came from transactions such as asset accumulation, while the remaining 40 percent reflected valuation and other changes. Holding gains on non-financial assets totaled 610 trillion won, but these were largely offset by the deterioration in the country's net financial position caused by the revaluation of foreign-owned Korean equities. 2026-07-22 14:28:51
  • Coupang Fulfillment Service to Compensate Sellers for Inventory Losses from Incheon Warehouse Fire
    Coupang Fulfillment Service to Compensate Sellers for Inventory Losses from Incheon Warehouse Fire Coupang Fulfillment Service (CFS) will fully compensate sellers affected by the fire at its warehouse in Seongnam-dong, Incheon. The compensation will cover not only inventory lost in the fire zone but also stock stored in areas that were not directly affected, supporting sellers in resuming their operations. On July 22, CFS stated, "We have decided to proactively provide compensation under our responsibility for sellers who have lost valuable inventory and faced disruptions in their business, even before the fire investigation and insurance processing are completed." Rocket Growth is a fulfillment service that manages storage, handling, and delivery of products on behalf of individual sellers. CFS will compensate for inventory that was directly lost in the fire, as well as stock that may have been damaged due to delays in removal or dust exposure. Typically, compensation for fire damage requires verification of inventory, damage assessment, and proof of losses from sellers, which can take considerable time. To prevent further business downturn for sellers, CFS plans to utilize its internal systems to directly tally inventory quantities and minimize the need for complex documentation such as invoices or packaging videos. Details regarding the compensation amounts and payment dates for each seller will be communicated individually starting mid-August, once inventory counts are completed. A dedicated consultation service for Rocket Growth sellers will also be established to provide one-on-one support for inquiries and damage assessments. CFS is also continuing its support for nearby residents and schools. On July 20, in collaboration with the Incheon Education Office, CFS delivered 13,500 masks for students and staff to eight elementary schools near the warehouse. Two temporary shelters in Incheon have been staffed with nursing personnel to assist with residents' health care, and shuttle buses to hospitals and medical expenses will be provided for residents in need of treatment. A CFS representative expressed, "We apologize for the distress caused to sellers due to this unexpected incident and are committed to supporting them responsibly to prevent any operational difficulties." The fire began on July 18 at 6:54 a.m. on the sixth floor of Coupang's 32nd logistics center, which has eight stories and a total floor area of 299,000 square meters. Aside from two firefighters who received hospital treatment for smoke inhalation or exhaustion, there were no other casualties. Fire authorities managed to bring the fire under initial control after 61 hours, declaring it fully extinguished on July 20 at 8 p.m., though they remain cautious about declaring complete resolution.* This article has been translated by AI. 2026-07-22 14:28:00
  • S-OIL Launches Supply of Bio Marine Fuel to Target Decarbonization Market
    S-OIL Launches Supply of Bio Marine Fuel to Target Decarbonization Market S-OIL has announced the launch of its bio marine fuel (B30 VLSFO) supply on July 22, responding to the decarbonization trend in the international shipping industry.Bio marine fuel is a ship fuel that blends sustainable biofuel with existing very low sulfur fuel oil (VLSFO). It is considered a practical low-carbon fuel that can immediately comply with environmental regulations from the International Maritime Organization (IMO) and the European Union (EU) without requiring separate ship modifications.S-OIL is establishing a supply system that can handle the entire process from raw material procurement to blending, storage, and delivery in the Ulsan area. By linking VLSFO produced at its Onsan plant with local biofuel production facilities and storage infrastructure, the company aims to streamline operations within a single region.Ulsan Port is identified as a key harbor with high demand for bio marine fuel, particularly for pure car and truck carriers (PCTC). S-OIL expects to provide quick and reliable fuel supply based on its proximity to major customers.With the start of bio marine fuel supply, S-OIL plans to continuously expand its eco-friendly fuel portfolio, proactively responding to changes in the international shipping market and environmental regulations while supporting customers in achieving carbon neutrality.An S-OIL representative stated, "In the bio marine fuel market, product quality, stable raw material procurement, and efficient supply systems are crucial competitive advantages. We plan to leverage our existing bunkering business strengths and the excellent supply infrastructure in the Onsan area to provide customers with stable and competitive low-carbon fuel."Meanwhile, as the IMO tightens carbon emission regulations, domestic refiners are also expanding the supply of eco-friendly marine fuels, including bio marine fuel, to secure market share. The industry anticipates an expansion of supply chains for various next-generation marine fuels, including biofuels, LNG, methanol, and ammonia.* This article has been translated by AI. 2026-07-22 14:28:00
  • Stray Kids to open five-show Seoul run ahead of Aug. 7 EP
    Stray Kids to open five-show Seoul run ahead of Aug. 7 EP SEOUL, July 22 (AJP) - K-pop boy group Stray Kids will launch their latest world tour with five sold-out shows in Seoul before releasing its eight-track EP “THIS & THAT” on Aug. 7, JYP Entertainment said Wednesday. The “Stray Kids World Tour ” will open at KSPO Dome in Seoul’s Songpa District on July 25, 26 and 29 and Aug. 1 and 2. The EP will be released at 1 p.m. alongside its title track, “This & That.” Stray Kids’ in-house production trio 3RACHA, Bang Chan, Changbin and Han, is credited on all eight tracks. The three members co-wrote and co-composed “FARMING,” with Bang Chan also contributing to the arrangement. A preview released through the group’s recurring “UNVEIL : TRACK” series on July 17 surpassed 1 million views on YouTube in about two days. The album also includes the pre-release tracks “RUN IT” and “After You,” along with “I Do,” “Way Out,” “The Day” and a festival version of “This & That.” The tour follows the group’s “dominATE” tour, which comprised 56 shows across 35 stops worldwide. Stray Kids will also perform at Tokyo’s National Stadium later in August, becoming the first overseas male act to hold a standalone concert at the venue. The group will return to Latin America in September to headline Brazil’s Rock in Rio and three editions of STRAYCITY, a new festival centered on Stray Kids. In 2025, Stray Kids became the first act to debut at No. 1 on the Billboard 200 with each of its first eight chart entries. 2026-07-22 14:27:32
  • President Lees Approval Rating Drops 5.9% to 48.8%
    President Lee's Approval Rating Drops 5.9% to 48.8% 이재명 대통령의 국정운영 지지율이 2주 만에 5.9%포인트(p) 하락했다. 한국사회여론연구소(KSOI)가 100% 자동응답(ARS) 방식으로 지난 20~21일 조사한 결과, 이 대통령 국정운영 긍정 평가는 48.8%로 집계됐다고 22일 밝혔다. 직전 조사보다 5.9%p 내린 수치다. 부정 평가는 46.7%로 5.8%p 올랐으며 긍정과 부정 격차는 2.1%p를 기록했다. 정당 지지도에서도 민주당이 42.9%로 직전 대비 2.1%p 내렸다. 국민의힘은 30.6%로 1.5%p 올랐다. 또한 8·17 전당대회를 앞둔 더불어민주당 당 대표 적합도 조사에서는 정청래 전 대표가 25.7%로 가장 높은 지지를 받았다. 김민석 전 국무총리가 21.5%로 뒤를 이었고, 송영길 의원 8.3%, 고민정 의원 3.9%, 김보미 전 강진군의회 의장 2.6% 순이었다. 이번 여론조사는 구조화된 설문지를 이용한 자동응답(ARS) 방식으로 이뤄졌고, 표본오차는 95% 신뢰수준에서 ±3.1%p다. 자세한 내용은 중앙선거여론조사심의위원회 홈페이지를 참조하면 된다.* This article has been translated by AI. 2026-07-22 14:24:00
  • Homeplus Resumes Operations at 67 Stores Amid Restructuring Efforts
    Homeplus Resumes Operations at 67 Stores Amid Restructuring Efforts Homeplus is set to restart operations after securing 200 billion won in emergency operating funds (DIP). The company plans to reopen 67 large stores nationwide that have been temporarily closed, following a court decision to reverse the termination of its rehabilitation process.On July 22, Homeplus issued a statement saying, "The Seoul Rehabilitation Court has canceled the decision to terminate the rehabilitation process and has decided to extend it until September 4, allowing us to focus on normalizing operations and restructuring."The company intends to reopen the 67 stores, which had halted operations since July 13, as soon as the DIP funds are available. Initially, it will prioritize the sale of food and essential goods, which have high sales volumes and turnover rates, to quickly improve cash flow.In the online sector, operations will begin with 16 stores in the metropolitan area that are ready to operate, gradually expanding delivery areas through discussions with delivery partners.The store operation model will also change. Some stores that were previously multi-level will be converted to single-level layouts of approximately 1,000 square meters, focusing on food, private label (PB) products, and high-turnover essential goods.A Homeplus representative explained, "This business model is similar to that of Trader Joe's, a leading U.S. retailer, and is a strategic response necessary for Homeplus's recovery and normalization amid competition with e-commerce companies." Trader Joe's supermarkets consist of over 80% private label products.The DIP funds are expected to be primarily used for essential operating expenses, including payments for goods, overdue rent, and utility costs such as electricity and water. The company also plans to pay overdue employee wages and settle outstanding payments to small business partners. However, Homeplus notified employees that the payment of retirement benefits, originally scheduled for today, has been postponed due to a lack of funds.Previously, on July 20, Homeplus management held an emergency meeting to discuss plans for reopening stores following the court's decision to appeal the termination of the rehabilitation process. The initial inventory levels will be only about half of what they were during normal operations, including fresh and processed foods and essential grocery items, but the company remains committed to resuming operations.Meanwhile, the court has extended the deadline for Homeplus's rehabilitation plan approval until September 4. Considering that Homeplus entered the rehabilitation process on March 4 of last year, this is effectively the last extension. 2026-07-22 14:24:00
  • Bank Loan Delinquency Rate Hits Highest Level in Nearly a Decade
    Bank Loan Delinquency Rate Hits Highest Level in Nearly a Decade Warnings have been issued regarding the loan stability of domestic banks. In May, the delinquency rate for won-denominated loans surged to its highest level in 9 years and 7 months, while the delinquency rate for small business loans also rose to over 1% for the first time in 11 years. Although the government is promoting 'productive finance' to encourage an increase in corporate loans, concerns are growing that ongoing economic sluggishness could heighten the risk of defaults in the banking sector.According to the Financial Supervisory Service on July 22, the delinquency rate for won-denominated loans at domestic banks reached 0.67% at the end of May, an increase of 0.06 percentage points from the previous month. This is the highest level since October 2016 (0.81%).The rise in delinquency rates was primarily driven by corporate loans. The delinquency rate for corporate loans rose to 0.84%, up 0.10 percentage points in a month. The delinquency rate for large corporate loans increased to 0.27%, up 0.05 percentage points from the previous month, while the delinquency rate for small business loans reached 1.00%, the highest since May 2015 (1.11%).The delinquency rate for household loans also increased to 0.45%, up 0.03 percentage points from the previous month. While the delinquency rate for mortgage loans remained relatively stable at 0.31%, the delinquency rate for other household loans, including credit loans, rose to 0.90%, an increase of 0.07 percentage points in a month.The potential for continued growth in corporate loans adds to the burden. At the end of May, the outstanding balance of corporate loans at deposit banks was 1,408.3 trillion won, an increase of 10.6 trillion won from the previous month. As financial authorities push for productive finance to redirect funds concentrated in households and real estate to advanced industries and corporate sectors, the supply of corporate loans from banks is expected to expand further.A Financial Supervisory Service official stated, 'If the increase in corporate loans coincides with a rise in market interest rates, the upward trend in delinquency rates could accelerate. We plan to actively promote the write-off and sale of non-performing loans in the banking sector and ensure that banks build sufficient capital and loan loss reserves.'* This article has been translated by AI. 2026-07-22 14:20:00
  • Inverse ETFs Surge 60% After Facing Delisting Threat
    Inverse ETFs Surge 60% After Facing Delisting Threat Just a month ago, inverse exchange-traded funds (ETFs) were facing potential delisting, but they have now emerged as the biggest beneficiaries of the recent market downturn. While the KOSPI index surged, the inverse ETFs, which had plummeted to penny stock levels, have recorded over 50% returns during the recent market correction. In contrast, leveraged ETFs, which bet on rising markets, have seen declines of more than 60%, highlighting a stark contrast in investor fortunes.According to the Korea Exchange, from June 19 to July 21, inverse ETFs dominated the top-performing products. The highest return was recorded by the KIWOOM 200 Futures Inverse 2X, which rose by 58.73%. Other notable performers included KODEX 200 Futures Inverse 2X (57.81%), RISE 200 Futures Inverse 2X (56.72%), TIGER 200 Futures Inverse 2X (55.71%), and PLUS 200 Futures Inverse 2X (51.11%), all exceeding 50% gains.This outcome is a stark reversal from just a month ago when the KOSPI surpassed the 9,000 mark, reaching record highs. At that time, inverse ETFs were rapidly incurring losses, and some smaller products faced the possibility of being designated as management items due to declining total net assets. Concerns about a potential delisting crisis loomed as prices fell to around 100 won.However, as the market experienced a sharp decline, the inverse ETFs quickly transformed into the top-performing products. Investment also surged, with KODEX 200 Futures Inverse 2X recording 21.2316 trillion won in trading volume, the highest among inverse products. Funds also flowed into products that invest in individual stock declines, with PLUS Samsung Electronics Futures Single Stock Inverse 2X recording 6.3681 trillion won and SOL SK Hynix Futures Single Stock Inverse 2X at 5.9509 trillion won, attracting significant investor interest.In contrast, leveraged ETFs faced a dismal performance. Most of the bottom-performing products were leveraged ETFs. The 1Q SK Hynix Futures Single Stock Leveraged ETF saw the largest drop, plummeting 61.93% over the month. Other leveraged products, including ACE, KIWOOM, TIGER, and SOL SK Hynix Single Stock Leveraged ETFs, also reported losses around 61%. Leveraged products related to Samsung Electronics, such as KODEX Samsung Electronics Single Stock Leveraged (-54.78%) and TIGER Samsung Electronics Single Stock Leveraged (-54.95%), also suffered significant declines.Market analysts view the performance over the past month as a clear illustration of the high volatility associated with leveraged and inverse ETFs. While correctly predicting market direction can yield substantial short-term gains, misjudgments can lead to rapid losses. The fact that inverse ETFs, which were once at risk of delisting, have now risen to the top of the performance charts in just a month underscores the extreme volatility in the domestic stock market.However, analysts suggest that rather than betting on further declines, investors should focus on the potential for a market rebound. On the same day, the KOSPI opened with a gain of over 4%, recovering above the 7,000 mark and showing signs of improved investor sentiment.Global investment bank Morgan Stanley recently stated in a report that despite the KOSPI's sharp decline, it has not entered a technically bearish market and maintained its target index of 9,000. While the recent drop in semiconductor stocks has led the index lower, valuations are approaching historical lows.* This article has been translated by AI. 2026-07-22 14:20:00
  • Block Bs P.O Injured in Traffic Accident in Jeju
    Block B's P.O Injured in Traffic Accident in Jeju P.O, a member of the group Block B and star of the Netflix original series 'Education,' was involved in a traffic accident in Jeju.According to Yonhap News and the Jeju Western Police Station, P.O was struck by a vehicle driven by an individual identified as A while crossing a road in Hanlim-eup, Jeju City, at 9:56 PM on July 19.As a result of the accident, P.O sustained abrasions to his elbow and knee, along with body pain, and was transported to a hospital for treatment. However, his injuries are not considered serious.Authorities have determined that A was not driving under the influence or violating traffic signals.The police are investigating the exact cause of the accident.P.O debuted with Block B in 2011 and has received acclaim for his role as the genius civil servant Bong Geun-dae in the Netflix original series 'Education,' which addresses the challenges of the public education system.* This article has been translated by AI. 2026-07-22 14:20:00
  • Police Investigate Command Influence in Jang Yoon-ki Case
    Police Investigate Command Influence in Jang Yoon-ki Case Police and prosecutors are accelerating their investigation into allegations of misconduct related to the investigation of the murder of a Gwangju high school student. They are focusing on identifying the police command structure that may have influenced the direction of the investigation. To verify the circumstances surrounding the directive to separate the investigations of the murder and sexual assault cases involving Jang Yoon-ki, police summoned the head of the Gwangju Police Agency's violent crimes unit for questioning.According to the Special Investigation Team for the Jang Yoon-ki case at the National Police Agency, the unit summoned Officer A from the Gwangju Police Agency's violent crimes unit as a witness on the morning of July 22.The Special Investigation Team is examining how the directive from the National Police Agency to separate the investigations of the murder of Jang Yoon-ki and the sexual assault of a foreign woman was communicated through the Gwangju Police Agency and the Gwangsan Police Station. They are also investigating whether there were any legal violations in the reporting and command structure during the communication of this directive.The analysis of Officer A's mobile phone, obtained during the search, is currently underway. The Special Investigation Team is reviewing messenger and call records exchanged with National Police Agency officials, as well as the processes for drafting and delivering reports, to clarify the overall command process of the investigation.The investigation is also focusing on the National Police Agency. The Special Investigation Team is analyzing work-related communication records between Officer A and Officer B, the head of the violent crimes unit at the National Police Agency, obtained during the search of the Gwangju Police Agency. They are reportedly considering summoning Officer B for questioning to verify how the directive for a separate investigation was communicated to the Gwangsan Police Station.This investigation aims to clarify whether there was any involvement from the National Police Agency's leadership. The Special Investigation Team has reportedly secured evidence that a senior official from the National Police Agency sent a message to a Gwangju Police Agency official stating, "This is the command from the chief."At the time, the investigation team at the Gwangsan Police Station had suggested merging the investigations of the sexual assault case, which occurred two days before Jang Yoon-ki's murder, with the murder case, but this suggestion was reportedly not accepted. The former head of the criminal investigation division at the Gwangsan Police Station claimed that they had proposed a merged investigation three times, but the directive from the National Police Agency mandated a separate investigation.Prosecutors are also intensifying their investigation into the police command structure. The Gwangju District Prosecutors' Office conducted searches the previous day at the National Police Agency's violent crime investigation division and is analyzing the mobile phones of police officers obtained during the searches. They continued their investigations on July 22 with officials from the Gwangsan Police Station, Gwangju Police Agency, and the National Police Agency.Currently, four individuals involved in the investigation have been registered with the police, including the head of the Gwangsan Police Station, the head of the criminal investigation division, the investigation team leader, and a team member. The Special Investigation Team and prosecutors are also investigating the circumstances surrounding the omission of charges such as murder and rape during the investigation process, as well as the overall evidence collection and management procedures.* This article has been translated by AI. 2026-07-22 14:16:00