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Climate Minister Kim Seong-hwan Inspects Yongin Semiconductor Cluster Infrastructure Kim Seong-hwan, the Minister of Climate Energy and Environment, visited the Yongin semiconductor cluster to assess the status of key infrastructure development, including electricity and water supply, and to support the semiconductor mega-project.The ministry announced that Minister Kim visited the Samsung Electronics national industrial complex and the SK Hynix general industrial complex in Yongin's Cheoin District on July 22 to review the plans for power and water supply and the progress of construction.This site visit follows the government's announcement last month of the 'Three Mega-Projects for South Korea's Great Leap Forward.' The government and companies aim to double memory production capacity within five years, ahead of the original timeline for completing semiconductor production facilities.The semiconductor industry is recognized for its significant reliance on stable infrastructure, such as substantial electricity and ultra-pure water, which are critical for maintaining production competitiveness. Industry experts warn that delays in power and water supply could postpone the entire investment schedule, making timely infrastructure development essential for semiconductor competitiveness.In response, the government plans to expedite the schedules for electricity and water supply.In the electricity sector, the Yongin semiconductor cluster is expected to require over 10 GW of power. The government will gradually expand the supply chain to meet this demand. The national industrial complex will provide initial power through LNG generation and nearby transmission network enhancements by 2030, with plans to advance the final power supply date from 2053 to 2042 by expanding transmission lines and connecting power from the Yeongdong and Central regions.Power supply to the SK Hynix general industrial complex is set to begin in 2027, with a combined heat and power plant to be established by 2029 to meet initial demand. The plan also includes early expansion of transmission lines and the simultaneous development of power networks and roads to enhance community acceptance.Water supply efforts are also being accelerated. The government plans to supply up to 1.5 million tons of water daily to the national and general industrial complexes using the Soyanggang Dam, Chungju Dam, Hwacheon Dam, and recycled wastewater. Notably, the first phase of the integrated water supply project will be advanced from 2031 to May 2029, with construction on some sections starting in July this year. The second phase is set to begin design work in the second half of this year, with water supply expected to start in 2034.Minister Kim stated, "As semiconductors are an irreplaceable national strategic industry, it is crucial not to miss the golden time for investment. The government will focus all its efforts on ensuring timely supply of essential infrastructure, including electricity and water, to the Yongin semiconductor complex."* This article has been translated by AI. 2026-07-22 13:32:00 -
Chicken Orders Surge 39.2% During World Cup Final, Baemin Reports Baemin, operated by Woowa Brothers, reported a 39.2% increase in food delivery orders between 2 a.m. and 5 a.m. on July 20, during the FIFA World Cup final, compared to the same time last week.Orders peaked just before and after the match, with a 72% surge around 3 a.m. and a 55.8% increase immediately following the game at 4 a.m.Chicken was the most popular choice, with orders nearly three times higher than those for cafes and fast food. The increase in chicken orders was the highest at 138.6%, followed by pizza at 75.3% and jokbal (pig's trotters) at 74.5%, highlighting the popularity of late-night snacks.A Baemin representative stated, "It seems many customers enjoyed cheering for the final match throughout the night. We will continue to operate our services to meet the demand for delivery orders without disruption."Meanwhile, Nielsen Korea reported that the viewership rating for the World Cup final between Spain and Argentina was 3.4% for both KBS and JTBC. Additionally, 843,000 viewers watched the match on Naver's streaming platform, Chijijik.* This article has been translated by AI. 2026-07-22 13:32:00
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Civic Group Criticizes Housing Supply Forum for Excluding Voices of Renters A recent forum on housing policy hosted by the government has faced criticism from civic groups for failing to adequately represent the concerns of renters and low-income citizens.The Citizens' Coalition for Economic Justice held a press conference on July 22 in front of the Blue House, stating, "The voices of homeless citizens struggling with rising housing prices and rental burdens were absent from the housing supply policy forum organized by the Ministry of Land, Infrastructure and Transport."The coalition argued that to ensure housing stability for low-income renters, there needs to be a significant increase in the supply of land lease housing and long-term public rental housing in public development areas.Land lease housing is a model where the land is owned by the public while only the buildings are sold. This allows for lower prices compared to nearby market rates, according to the coalition.As an example, the coalition cited the Godeok Gangil 3rd District, where a land lease housing unit with a floor area of 59 square meters was priced at 360 million won. This is about 32.7% of the 1.1 billion won average price of nearby apartments.The coalition explained, "If one were to purchase an apartment priced at 1.1 billion won, assuming a down payment of 300 million won and a bank loan of 800 million won, the monthly interest alone would reach 2.67 million won. In contrast, residents of Godeok Gangil 3rd District would only need to pay 360 million won for the building and a monthly land lease fee of 400,000 won to live in a new apartment long-term."They emphasized that land lease housing could alleviate the issue of 'lottery-style' allocations and shift the housing market focus from asset value to utility value. The coalition called for land lease housing to be supplied in areas such as the third new towns and sites designated under the 1·29 plan, rather than traditional public sales.The need to expand long-term public rental housing was also highlighted. The coalition defined permanent rental, 50-year rental, national rental, long-term lease, and integrated public rental housing as 'true public rental housing,' noting that these types account for only 4.4% of the total housing stock.They stated, "If true public rental housing reaches 20% of the total housing stock, it could significantly contribute to housing stability for citizens."Regarding the city of Seoul's push to revitalize redevelopment projects, the coalition expressed concerns that this could exacerbate rental instability. They predicted that redevelopment projects would generate a demand for relocation of 45,000 households annually in Seoul, which could increase rental demand by 8% if these households enter the rental market.As discussions on expanding supply lean towards restoring private sector profitability, there is a growing demand for measures to secure public interest for renters and low-income households.Additionally, the coalition urged the government to strengthen the now-ineffective excess profit recovery system for reconstruction, disclose construction costs to eliminate price inflation, fully reflect the fair market value ratio in the comprehensive real estate tax, and reform the long-term holding special deduction.* This article has been translated by AI. 2026-07-22 13:28:00
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U.S. Urges Israel to Stay Out of Iran Conflict Amid Escalating Tensions The military conflict between the United States and Iran is intensifying, but Israel is holding back from military action. Both the U.S. and Middle Eastern nations are concerned that Israel's involvement could escalate limited clashes into a full-scale war.On July 21, the Wall Street Journal reported, citing multiple sources, that the U.S. has requested Israel to refrain from participating in the conflict against Iran for the time being.While maintaining military pressure, the U.S. aims to extract diplomatic concessions from Iran to avoid a full-scale war, viewing Israel's involvement as an unstable variable.Arab nations in the Gulf region have also urged the U.S. to prevent Israel from resuming attacks on Iran. They fear that if Israel intervenes, Iran could retaliate strongly against their energy facilities. Mediating countries believe that Israel's involvement could complicate the return of Iran's Islamic Revolutionary Guard Corps (IRGC) to negotiations.Israel currently assesses that there is no immediate need for direct intervention. Israeli Finance Minister Bezalel Smotrich stated, "The primary goal of this operation is to weaken the Iranian regime's foundation. The current situation is favorable for us, and there is no reason to intervene, but we are prepared for all scenarios."Iran also appears to be avoiding direct attacks on Israel. Recently, it has targeted U.S. allies in the region, such as Kuwait, Bahrain, and Jordan, while refraining from direct aggression against Israel.Although the U.S. and Israel closely coordinated at the onset of the conflict against Iran in February, differences have emerged regarding war objectives. President Donald Trump has pushed for diplomatic solutions due to concerns over global economic impacts from disruptions in energy supply, while Israel has expressed dissatisfaction with ending the war before sufficiently weakening the Iranian regime.However, the possibility of Israel re-engaging remains. The Iran-aligned Houthi forces in Yemen are threatening to blockade the Red Sea, and if the U.S. opts for larger military operations to break the stalemate, Israel's support may become necessary.Erez Wiener, chairman of the Israeli Security Forum, analyzed that keeping the option of an Israeli attack as a backup could serve as leverage for the U.S. in pressuring Iran regarding the reopening of the Strait of Hormuz and nuclear negotiations.* This article has been translated by AI. 2026-07-22 13:28:00
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BofA Projects HBM Market to Reach $246 Billion by 2030, Driven by AI Investment Bank of America (BofA) has projected that the high bandwidth memory (HBM) market will grow to $246 billion by 2030, fueled by increased investment in artificial intelligence (AI). This represents a sevenfold increase from the current market size of approximately $35 billion over the next five years. On July 21, Yahoo Finance reported that BofA recently added Micron Technology, a U.S. memory semiconductor company, to its 'US 1 List' of top stock picks. Vivek Arya, a BofA analyst, maintained a 'buy' rating on Micron with a target price of $155. BofA anticipates that the demand for memory semiconductors, including HBM, will surge due to the proliferation of AI, accelerating growth in the overall semiconductor market. In a report last month, BofA raised its global semiconductor revenue forecast for 2030 from $2.3 trillion to $2.7 trillion (approximately 4,000 trillion won). BofA estimates that the AI data center systems market alone will reach $1.7 trillion by 2030. The demand for HBM, essential for expanding AI data center investments, is expected to rise rapidly, and long-term supply contracts will enhance the stability of memory companies' performance compared to the past. Furthermore, BofA noted that memory semiconductors are shifting from being volatile products influenced by economic conditions to becoming a long-term growth industry driven by AI. BofA identified Micron as a key beneficiary of these market changes. Micron has secured 16 long-term supply contracts targeting data centers, consumer products, and automotive sectors. Analysts suggest that the increasing demand for AI memory and limited supply capacity could lead to prolonged memory shortages.* This article has been translated by AI. 2026-07-22 13:16:00
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Seoul Education Chief Jeong Geun-sik Unveils Vision for Second Term Seoul's Superintendent of Education Jeong Geun-sik has announced a new vision for his second term, titled 'Basic Education for All, Happy Cooperative Education.' This vision aims to expand the constitutional right to education from the current focus on primary and secondary education to include lifelong learning for children as young as three and adults, including seniors. During a press conference held on the fourth floor of the Seoul Metropolitan Office of Education on July 22, Jeong officially presented the vision and key policy directions for his second term. The core concept emphasized by Jeong is 'basic education.' He stated, "Article 31 of the Constitution declares that 'all citizens have the right to receive equal education,' but this has been limited to primary and secondary education. We must significantly expand the state's responsibility for education from early childhood learning to lifelong learning throughout life." To achieve this, he outlined four key principles: strengthening national responsibility for education for children aged 3 to 5, ensuring basic academic skills and building a robust learning safety net, systematizing democracy and constitutional education inside and outside the classroom, and expanding school-based lifelong education to include parents and seniors. The educational indicators proposed are 'Start with a strong foundation, ensure solid basics, and promote diverse growth.'One Learning Diagnosis Growth Center and Healing Schools to be Established... Five Policy Directions to be ImplementedThe Seoul Metropolitan Office of Education has also detailed five policy directions to root this basic education discourse in practice. First, to foster 'future-oriented holistic education through creativity and empathy,' the number of students receiving artificial intelligence (AI) and digital literacy assessments will be significantly increased to 100,000 annually by 2028, and each student will be encouraged to participate in at least one arts or sports activity to promote balanced growth. Additionally, to ensure 'responsible education that guarantees learning for all,' the 'Seoul Learning Diagnosis Growth Centers' will be expanded to all 25 districts to assist students with borderline intelligence and dyslexia. The establishment of a public alternative school, tentatively named 'World Middle School,' and the expansion of special education schools are also key initiatives. Furthermore, a sustainable democratic citizenship education program will be developed, systematizing constitutional, historical, and global citizenship education, and expanding rural study programs from the existing Jeolla, Gangwon, and Jeju regions to include Chungcheong and Gyeongsang provinces. The 'Seoul Parent School 365' initiative will also be strengthened to support parental education. As part of 'shared educational welfare' to build a robust safety net, support for public transport costs and one-day field trip expenses will be provided, along with a phased implementation of free education for children aged 3 to 5. A Korean language preparatory school linked with universities will be established to help students from immigrant backgrounds adapt to school, enhancing educational safety nets through focused Korean language education and tailored support. Finally, to create a 'safe and peaceful educational community,' Jeong has prioritized the establishment of 'healing schools' to assist students facing mental health crises. To protect teachers' rights, the scope of immunity for legitimate disciplinary actions will be expanded, and legal support will be provided to ensure a secure teaching environment.“Comprehensive Democratic Citizenship Education Plan to be Announced in August... We Must Maintain 20.79% of Education Grants to Realize Our Vision”During the Q&A session following the vision announcement, Jeong addressed recent educational issues. Regarding the controversy over hate speech in schools and the effectiveness of democratic citizenship education, he remarked, "This is not a problem that can be solved with a few hours of one-sided instruction; intergenerational dialogue to listen to the concerns of students and youth is crucial. We will establish and announce a comprehensive democratic citizenship education plan in August." On the contentious issue of local education financial grants, Jeong expressed a strong commitment to maintaining these funds. He stated, "The 20.79% ratio linked to domestic tax revenue is a symbolic figure for educational finance that must be preserved. If grants are reduced in the current situation where reserve funds are rapidly depleting, it could jeopardize the implementation of the vision announced today, including integrated education and lifelong learning support." Additionally, regarding the conflict over the transition of single-gender schools to co-educational institutions, he noted, "This is necessary from the perspective of future population demand and gender equality education, and we will actively utilize conflict resolution committees to address this issue." In response to calls for the abolition of the direct election system for superintendents, he stated, "Educational autonomy is a constitutional value, so I oppose the abolition of direct elections, but we can consider supplementary measures such as party recommendations." Jeong concluded the press conference by stating, "Seoul is a city with the most educational resources and simultaneously the largest educational disparities. I will respond to this trust with quiet action, ensuring that not a single student is left behind in learning and growth."* This article has been translated by AI. 2026-07-22 13:16:00
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Danggeun Pay Surpasses 300,000 Merchants for In-Person Payments Danggeun Pay's in-person payment service has surpassed 300,000 merchants just one year after its launch.On July 22, Danggeun, the company behind the mobile payment service, announced key achievements as it marks the first anniversary of its in-person payment service.Danggeun Pay's in-person payment is a QR-based offline payment service available at various local stores, including convenience stores, cafes, and bakeries.Since its launch in June 2025, the number of merchants accepting in-person payments has exceeded 300,000. As of June, the cumulative number of merchants that processed in-person payments has increased 12-fold compared to July 2025, when the service was first introduced. During the same period, the monthly transaction volume has grown more than six times, and the number of monthly payment transactions has increased nearly fourfold.The use of Danggeun Points has also seen significant growth. Last month, the amount of Danggeun Points used for in-person payments surged 210 times compared to the early days of the service, while the number of transactions using these points increased 21 times.A representative from Danggeun Pay stated, "In-person payments provide users with a more convenient payment experience in their neighborhoods, while also offering business owners new opportunities to connect with customers, allowing us to grow together."* This article has been translated by AI. 2026-07-22 13:12:00
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Seoul Mayor Criticizes President's Real Estate Transaction Method The controversy surrounding President Lee Jae-myung's sale of his apartment in Bundang is spreading through the political arena. On July 22, Seoul Mayor Oh Se-hoon criticized the current government's real estate loan regulations via his social media, stating, "Even the president has to consider such methods to sell a single house."In his Instagram post, Mayor Oh said, "I do not intend to criticize the president's transaction. It may even be something to be thankful for," but he sharply pointed out, "The president has personally demonstrated how abnormal the current real estate regulations have made the market."He emphasized, "Where is the clearer evidence of regulatory failure? If the president needed flexibility, the citizens need it even more desperately."Mayor Oh defined the core issue of this transaction as the "difference between the president and the citizens." He stated, "The president had options, but for those who are first-time homebuyers limited by a loan cap of 200 million won, there are no options at all," criticizing the uniform loan regulations for obstructing citizens' ability to purchase homes.He directed his comments toward the upcoming national discussion on real estate scheduled for July 23, saying, "What citizens are most urgently requesting is a plea to revise the suffocating uniform loan regulations," and added, "If you remember the frustration felt during this transaction, you should be able to respond at that meeting tomorrow."Political circles interpret his remarks not merely as a social media critique but as an offensive targeting the overall real estate policies of the Lee Jae-myung administration.Particularly, as it has been revealed that the president's transaction involved consideration of the buyer's financial situation, critics argue, "Isn't it an acknowledgment that even the president finds it difficult to conduct normal transactions under the current regulations?"In contrast, the government and ruling party maintain that this transaction was a normal sale conducted within the bounds of current law, asserting that generalizing personal transactions as evidence of policy failure is unreasonable.Mayor Oh reiterated the need for a shift in real estate policy, stating, "Creating a financial environment that works for actual homebuyers is a priority over uniform regulations that ignore market realities."This dispute is evolving beyond a simple apartment sale controversy, potentially symbolizing a direct clash between 'regulation-centered real estate policy' and 'restoration of market functions.'* This article has been translated by AI. 2026-07-22 13:12:00
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Han Yuwon Releases First Retail and Marketing Trends Report The Korea Small and Medium Enterprises Distribution Agency has begun providing distribution and marketing information to enhance the market responsiveness of small and medium-sized enterprises, as well as venture and small businesses.On July 22, Han Yuwon announced the release of its first 'Retail and Marketing Trends Report' for the first half of 2026.The 'Retail and Marketing Trends Report' offers research, statistics, and field case studies on the rapidly changing distribution environment. It includes an analysis of key trends in distribution and marketing for the first half of the year, changes and trends in various distribution channels, exemplary cases of institutional support projects, the current status of AI utilization among small and micro businesses, key statistics in the consumer and distribution markets, and a schedule for support projects in the second half of the year. The report is primarily designed with visual materials such as charts and infographics.Readers can participate in a satisfaction survey through a QR code included in the report, and Han Yuwon plans to improve the content based on the survey results for the release of the second half trends report in December.Earlier, in May, Han Yuwon signed agreements with 18 companies to support the online competitiveness of small businesses.Lee Tae-sik, CEO of Han Yuwon, stated, "This report is composed of practical marketing information that small and medium-sized enterprises and venture businesses can easily access and utilize in the distribution field."* This article has been translated by AI. 2026-07-22 13:04:00
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Government Moves to Allow Early Morning Deliveries for Large Supermarkets The government is pushing to allow early morning deliveries for large supermarkets. This initiative aims to address the competitive disadvantage against e-commerce and enhance the competitiveness of the retail industry. As consumer lifestyles have shifted to a 24-hour online focus, it is deemed inequitable to keep offline retailers bound by outdated regulations. Although this change comes late, it is a step in the right direction. Beyond permitting early morning deliveries, it is time to gradually revise the mandatory closure regulations for large supermarkets to align with current market conditions.The mandatory closure system for large supermarkets was introduced in 2012 to protect traditional markets and local businesses. At that time, large supermarkets dominated the offline retail market, and there was a social consensus on the need for regulations to protect local economies. However, over a decade later, the market environment has changed dramatically. Consumers can order products anytime via smartphones, and online platforms now offer late-night and early morning deliveries. The focus of the retail market has long since shifted online.Yet, large supermarkets are still required to close their doors monthly and face restrictions on operating hours, which is anachronistic. The same regulations do not apply to online platforms. This creates a structure where regulations are concentrated solely on offline retailers, which contradicts the principles of fair competition and limits consumer choice.The situation with Homeplus highlights the limitations of these regulations. While the company's financial difficulties cannot be attributed solely to the mandatory closure rules, factors such as excessive acquisition financing, lack of investment, and failure to adapt to rapidly changing market conditions are fundamental causes. However, it is undeniable that the mandatory closure and operating hour restrictions have hindered its competitiveness. Offline retailers are essentially entering the competition with one hand tied behind their backs.Moreover, the crisis at Homeplus is not an isolated issue. If large supermarkets fail, numerous partner companies, suppliers, and small businesses will face cascading difficulties. Local employment will also be significantly affected. The retail industry operates as an ecosystem, and the weakening of a specific company's competitiveness reverberates through to partners and consumers.Allowing early morning deliveries could be the first step in correcting this imbalance. However, this alone is not sufficient. The mandatory closure regulations must also be gradually improved, taking into account consumer benefits and market realities. Local governments should be allowed to adjust closure days based on regional conditions, and converting mandatory closures on public holidays to weekdays or expanding options based on locality should be considered. The key is not uniform regulations but a flexible system that aligns with the changed market.Of course, the goal of protecting traditional markets and local businesses remains important. However, the approach to protection should not be limited to regulation. The focus should shift to policies that enhance competitiveness, such as supporting digital transformation, modernizing facilities, establishing shared logistics, and expanding online sales channels. Policies that empower the market to compete are more sustainable than those that artificially restrict it.Regulation is a means, not an end. As times change, regulations must also evolve. In an era where the boundaries between online and offline have blurred, clinging to outdated standards will not yield benefits for business competitiveness, consumer welfare, or the revitalization of local economies. The Homeplus situation serves as a warning of how far policy has lagged behind structural changes in the retail industry. If the government uses the opportunity of allowing early morning deliveries to redesign the mandatory closure regulations to fit current realities, it could enhance the competitiveness of the retail industry and benefit consumers, partners, and the local economy.* This article has been translated by AI. 2026-07-22 13:00:00