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  • Korean Stock Market Sees Largest Decline Since June, Losing 100 Trillion Won
    Korean Stock Market Sees Largest Decline Since June, Losing 100 Trillion Won ◆아주경제 주요뉴스▷KOSPI Falls 28.51% Since June, Leading Global Market Declines- The KOSPI index has dropped 28.51% from its peak on June 22 to July 20, making it the largest decline among major global stock markets. Even with a 3.56% rebound on July 21, the index has fallen approximately 25% over the month, reversing its position as the top performer in the first half of the year.- The sharp decline in the stock market and increased volatility have led to a noticeable outflow of investment funds. Since early June, foreign investors have sold a net 70.9399 trillion won in the securities market, while the total investment deposits have decreased from 139.6948 trillion won on July 4 to 108.818 trillion won by July 16, a drop of over 31 trillion won in just one month.- Experts attribute the market drop to supply factors, including a focus on AI and semiconductors and the liquidation of leveraged funds, rather than a deterioration in fundamentals. Foreign selling has reached extreme oversold levels, and the KOSPI's 12-month forward price-to-earnings ratio has fallen to 5.7 times, suggesting a potential for a rebound due to incoming bargain-hunting.◆주요 리포트▷IPO가 다시 불 붙일 AI 랠리 - The recent AI rally has entered a correction phase due to uncertainties around monetization and concerns over the cyclical revenue structure between AI companies and hyperscalers. NH Investment & Securities forecasts that upcoming IPOs of AI model companies will help clarify actual revenue structures and real demand, alleviating doubts about the AI cycle.- The key to these IPOs lies in validating the usage and performance-based billing models of AI companies in the market. Global debt issuance related to AI is expected to reach $400 billion this year, with IPOs expanding funding sources from private equity and corporate bonds to public equity, thereby increasing transparency in circular investments and leverage structures.- If the profitability and real demand of AI models are confirmed, the justification for large-scale AI infrastructure investments will strengthen, leading to increased demand for hardware such as semiconductors, memory, and infrastructure. In particular, the expansion of inference and AI agents is expected to benefit companies related to memory (HBM), server CPUs, and networking.◆장 마감 후(21일) 주요공시△블랙록, KAI 지분 5% 넘겼다…주요 주주 올라△롯데건설 '2026 지속가능경영보고서' 발간, 최신 ESG 공시체계 반영△에이프릴바이오, 큐리진과 기술도입 계약 체결△고려아연, 종속회사 Richmond Valley Energy Reserve Holdings Pty Ltd의 유상증자 결정 공시◆펀드 동향(20일 기준, ETF 제외) ▷국내 주식형: 887억원▷해외 주식형: -414억원◆오늘(22일) 주요일정▷한국: 생산자물가지수(6월)▷채권: 미국 20년물 국채 입찰* This article has been translated by AI. 2026-07-22 07:28:00
  • U.S. War Costs with Iran Exceed $37.5 Billion, Additional $87.6 Billion Requested
    U.S. War Costs with Iran Exceed $37.5 Billion, Additional $87.6 Billion Requested The cost of the U.S. war with Iran is projected to reach $37.5 billion (approximately 55.6 trillion won) by the end of the current fiscal year on September 30. On July 21, U.S. Secretary of Defense Pete Hegseth testified before the Senate Appropriations Committee, stating that this figure includes actual expenditures to date as well as anticipated military salaries and operational and maintenance costs through the end of September. The Trump administration has requested an additional budget of $87.6 billion (approximately 129.8 trillion won) from Congress to cover war expenses, with about $67 billion (approximately 99.3 trillion won) allocated for the Department of Defense. However, there is controversy surrounding the need for additional funding, as approximately $75 billion (about 111.1 trillion won) from last year's budget remains unspent. Hegseth explained that these funds are intended for projects aimed at rebuilding military capabilities. When asked whether U.S. forces could destroy the so-called 'Pickaxe Mountain,' believed to be linked to Iran's nuclear program near Natanz, Hegseth declined to comment, stating that military capabilities are classified. He emphasized that preventing Iran from acquiring nuclear weapons is a core objective of the war, citing North Korea's enhancement of conventional forces while developing nuclear capabilities. Hegseth argued that operations targeting Iran's missile launch sites, defense industry infrastructure, and navy are part of efforts to deter nuclear armament.* This article has been translated by AI. 2026-07-22 07:24:00
  • U.S. Stocks Rise on Semiconductor Surge; Nasdaq Up 1.29%
    U.S. Stocks Rise on Semiconductor Surge; Nasdaq Up 1.29% U.S. stock indices rose across the board, driven by a surge in semiconductor stocks. Despite ongoing uncertainties from tensions in the Middle East and U.S. tariffs on Canada, buying pressure increased for semiconductor stocks that had recently seen significant declines ahead of major tech earnings reports.On July 21, the Dow Jones Industrial Average closed up 385.38 points, or 0.74%, at 52,224.64. The S&P 500 gained 65.92 points, or 0.89%, finishing at 7,509.20, while the tech-heavy Nasdaq Composite rose 329.13 points, or 1.29%, to close at 25,837.21.The semiconductor sector led the market's gains, with the Philadelphia Semiconductor Index soaring 5.2% for a second consecutive day. Following recent concerns over high valuations and investment burdens related to artificial intelligence, buying interest surged in semiconductor stocks. The S&P 500's information technology sector also rose 2.35%, marking the highest increase among the 11 sectors.Notable individual stock performances included SanDisk, which jumped 14.3%, while Western Digital and Micron Technology rose 12.5% and 12.2%, respectively. Investor sentiment for semiconductor stocks improved amid expectations that major tech companies would meet market forecasts.Investor focus is now on upcoming earnings reports from major tech firms this week, including Alphabet, Intel, and Texas Instruments. The ability of these companies to support rising tech stock prices with solid earnings will likely be a key factor for the market moving forward.Stock movements varied based on individual company earnings. 3M raised its annual profit outlook, resulting in a 7.3% increase in its stock price, while toy manufacturer Hasbro also saw an 8.8% rise after upgrading its annual revenue and profit forecasts. Conversely, life sciences company Danaher fell 11% after lowering its annual core revenue growth outlook.Ongoing tensions in the Middle East remain a concern for the stock market. As military clashes continue between the U.S. and Iran, fears of oil supply disruptions have increased due to threats from Yemen's Houthi rebels against commercial shipping.As a result, Brent crude for September delivery settled at $91.01 per barrel, while West Texas Intermediate (WTI) closed at $84.91. Despite inflation concerns stemming from rising oil prices, U.S. 10-year Treasury yields briefly rose to 4.64%. However, on this day, expectations for corporate earnings outweighed geopolitical risks, leading to increased buying in tech stocks.* This article has been translated by AI. 2026-07-22 07:12:00
  • Flood Warning Lifted for Imjingyo Bridge in Yeoncheon, Water Levels Decrease
    Flood Warning Lifted for Imjingyo Bridge in Yeoncheon, Water Levels Decrease As of 5:30 a.m. on July 22, the flood warning issued for the Imjingyo Bridge in Yeoncheon County, Gyeonggi Province, has been lifted.According to Yonhap News and the Han River Flood Control Center, the water level at 6 a.m. was recorded at 7.72 meters.Previously, the Han River Flood Control Center had raised the flood advisory to a warning at 3:30 p.m. the day before due to rising water levels at the Imjingyo Bridge.The water level, which had exceeded the flood warning threshold of 10.8 meters, reached 11 meters but began to gradually decrease overnight.Additionally, the water level at the northernmost Pilseung Bridge on the Imjin River is also declining.The Imjin River basin manages flood levels in four stages based on the Pilseung Bridge's water level. If the level exceeds 1 meter, a 'river recreation evacuation' is issued; at 2 meters, a 'non-flood evacuation' is declared; at 7.5 meters, a 'concern' alert for border areas is issued; and at 12 meters, a 'warning' stage is activated.The water level at Pilseung Bridge had surpassed 10 meters the previous evening, nearing the 12-meter alert level for border area crisis response.As of 6 a.m., the water level at Pilseung Bridge has also gradually decreased to 6.06 meters.Meanwhile, heavy rain is expected to continue across the central region.Forecasted rainfall amounts are 20 to 60 mm in Seoul, Incheon, and Gyeonggi Province (over 80 mm in southern Gyeonggi), 5 to 20 mm in the five islands of the West Sea, 20 to 60 mm in inland and mountainous areas of Gangwon Province (over 80 mm in southern inland Gangwon), 5 to 30 mm on the eastern coast of Gangwon, and 20 to 60 mm in Daejeon, Sejong, Chungnam, and Chungbuk (over 80 mm in northern Chungnam and Chungbuk).* This article has been translated by AI. 2026-07-22 07:08:00
  • Major Financial Groups See Gains While Regional Banks Struggle
    Major Financial Groups See Gains While Regional Banks Struggle The performance of the four major financial groups and regional financial institutions is diverging significantly. While the large financial groups are benefiting from a booming stock market, particularly in their non-banking sectors, regional banks are expected to see a decline in profitability due to sluggish local economies and structural limitations.According to financial information provider FnGuide on July 21, the combined forecast for net profit in the second quarter of 2026 for KB, Shinhan, Hana, and Woori Financial is 5.778 trillion won. This represents a 7.3% increase compared to 5.3839 trillion won in the same period last year.In contrast, regional financial groups are expected to report the opposite trend. The forecast for net profit for the three regional financial groups—BNK, iM, and JB Financial—for the second quarter is 610.7 billion won, a 9.1% decrease from 671.8 billion won in the same period last year. If market expectations are confirmed, the net profit of the four major financial groups will exceed that of the three regional financial groups by more than nine times.Among regional financial groups, only JB Financial is expected to see an increase in net profit. JB Financial's forecast for the second quarter is 212.6 billion won, up 2.4% from 207.7 billion won during the same period last year.iM Financial is projected to decrease from 154.3 billion won last year to 148.7 billion won, a 3.6% drop. BNK Financial is expected to see the largest decline, from 309.2 billion won to 249.4 billion won, a 19.4% decrease. Analysts attribute this to a one-time profit from the sale of BNK Digital Tower in Gangnam, Seoul, last year, which creates a challenging base effect for this year.The key factor distinguishing the performance of large financial groups from regional banks is the competitiveness of their non-banking sectors. With active trading in the domestic stock market and a recovering asset management market, large financial groups with securities firms have directly benefited.In contrast, regional financial groups are relatively focused on capital and insurance in their non-banking operations. The lower contribution of profits from securities subsidiaries means that the benefits of a booming stock market are less pronounced for regional banks compared to their larger counterparts.The ongoing struggles of the local economy are putting pressure on the profitability of regional financial institutions. These banks have a high proportion of loans to small and medium-sized enterprises and small business owners. However, the impact of high interest rates and inflation has dampened economic vitality in the region, leading to reduced demand for corporate financing and investment activity.Market analysts believe that the performance gap among financial groups is likely to continue in the second half of the year. While rising benchmark interest rates can increase banks' interest income, regional financial groups face the dual burden of a loan structure centered on small businesses and a slowing local economy. Observers suggest that narrowing the gap with large financial groups in the short term will be challenging.Choi Jeong-wook, a researcher at Hana Securities, stated, “Some regional financial groups like iM Financial and BNK Financial are expected to fall short of market expectations. The losses from bond trading and stock valuation losses at capital companies may lead to a wider performance gap among financial groups than initially anticipated.”* This article has been translated by AI. 2026-07-22 07:04:00
  • Trump Imposes 50% Tariff on Canadian Goods; Carney Calls for Negotiations
    Trump Imposes 50% Tariff on Canadian Goods; Carney Calls for Negotiations Mark Carney, the Prime Minister of Canada, has agreed to strengthen trade negotiations with U.S. President Donald Trump following the announcement of new tariffs on Canadian goods.On July 21, Carney spoke with reporters in Ottawa, stating, "I spoke with President Trump this morning, and we agreed to enhance negotiations in the coming weeks."Earlier, Trump signed a proclamation imposing a 50% additional tariff on certain Canadian products, citing Section 338 of the Tariff Act of 1930. The affected items include wine, hockey sticks, and cement, with the tariffs set to take effect in 30 days.Carney criticized the move, asserting that it violates the Canada-United States-Mexico Agreement (CUSMA). He emphasized, "The primary goal is to reach a comprehensive agreement that benefits both countries," expressing a commitment to resolving the issue through negotiations.However, he warned that Canada may respond if the tariffs are implemented. When asked about potential countermeasures, Carney said, "We will consider all options."The Trump administration has cited Canada's discriminatory treatment of U.S. products as a reason for the tariffs.On the same day, Trump continued to apply pressure on Canada, stating at the White House, "Canada needs the U.S. to survive," and claimed, "Canada has been very tough on us for over 50 years."* This article has been translated by AI. 2026-07-22 07:04:00
  • Lebanons President Warns of Chaos Without Military Support; Trump Open to Talks with Hezbollah
    Lebanon's President Warns of Chaos Without Military Support; Trump Open to Talks with Hezbollah Lebanese President Joseph Aoun has urged U.S. President Donald Trump to provide ongoing support for the Lebanese Armed Forces (LAF), warning that a weakened military could lead to chaos similar to the civil war that followed the army's collapse in 1975.During a meeting at the White House on July 21, Aoun discussed military support for Lebanon, the withdrawal of Israeli troops, and the disarmament of the Iran-aligned militant group Hezbollah.Aoun stated, "We must support the Lebanese army. Without the Lebanese army, everything will collapse." He referenced the historical precedent of militias proliferating and leading to civil war after the army's disintegration, emphasizing, "We do not want that to happen again."According to a basic agreement reached on June 26 with U.S. mediation, Israeli forces are to gradually withdraw from southern Lebanon, allowing the Lebanese army to take control of the area. The Lebanese army is also tasked with disarming armed groups, including Hezbollah, and restoring state authority.The implementation of the agreement has already begun, with Israeli troops withdrawing from the Zawtar al-Gharbiyeh area in southern Lebanon, followed by the deployment of Lebanese forces. The Lebanese army plans to remove Hezbollah's weapons and military facilities in this demonstration zone.However, Hezbollah has opposed disarmament, and Israel has expressed doubts about the Lebanese army's ability to effectively disarm the group, raising concerns about potential clashes during the implementation process.Aoun reiterated the ultimate goal of permanently ending hostilities between Lebanon and Israel, while requesting U.S. support.Trump responded, stating, "We will help Lebanon," and added that Aoun could engage in direct talks with Hezbollah if he wished.* This article has been translated by AI. 2026-07-22 06:56:00
  • Irans Revolutionary Guard Claims to Disable Kuwaits Radar Systems
    Iran's Revolutionary Guard Claims to Disable Kuwait's Radar Systems The Islamic Revolutionary Guard Corps (IRGC) of Iran has claimed to have attacked and disabled key radar facilities in Kuwait. However, the extent of the damage remains unverified.On July 21, the IRGC announced that it had rendered the early warning and tactical radar near Kuwait's Ali Al-Salem Air Base and the radar facilities on Bubiyan Island inoperable.The IRGC described the attack as part of a military operation aimed at neutralizing regional radar systems.The Kuwaiti Ministry of Defense also reported that Iranian missile and drone attacks continued, stating that they were activating their air defense systems in response.However, the claims regarding the destruction of the radar facilities and the specific extent of the damage have not been confirmed.* This article has been translated by AI. 2026-07-22 06:44:00
  • Trump Warns of Response if Houthis Block Red Sea
    Trump Warns of Response if Houthis Block Red Sea President Donald Trump warned that the United States would respond if the Iranian-aligned Houthi movement's threat to block the Red Sea materializes.On July 21, during a meeting with Lebanese President Joseph Aoun at the White House, Trump addressed questions about the Houthi blockade threat, stating, "So far, that hasn’t happened, but if it does, we will handle it." The Houthis recently declared a maritime blockade against Saudi Arabia and threatened to attack vessels transporting Saudi oil. Following a significant decrease in shipping traffic through the Strait of Hormuz due to U.S.-Iran tensions, Saudi Arabia has been utilizing the port of Yanbu on the Red Sea as an alternative route for oil exports. If Houthi attacks commence, disruptions to oil transport in the Middle East could worsen.Trump also indicated potential strikes against a site known as 'Pickaxe Mountain,' believed to be linked to Iran's nuclear program. He stated, "We will be hitting that area very hard soon." Pickaxe Mountain is located near Iran's Natanz uranium enrichment facility and is reported to contain extensive underground tunnels. Iran has previously announced plans to construct facilities related to advanced centrifuges for uranium enrichment at this site, though its current use and operational status remain unverified.Regarding the possibility of negotiations with Iran, Trump remarked, "Iran desperately wants to meet with us, but we are not interested until they are ready to meet in a meaningful way." Accompanying Trump, U.S. Secretary of Defense Pete Hegses emphasized the need to prevent Iran from acquiring nuclear weapons, referencing North Korea as a cautionary example. Hegses stated, "For 47 years, Iran has been building up its conventional military power, just as North Korea did to develop nuclear bombs. We must remember that." * This article has been translated by AI. 2026-07-22 06:36:00
  • Coupang Faces Class Action Lawsuit in U.S. Over Data Breach
    Coupang Faces Class Action Lawsuit in U.S. Over Data Breach A class action lawsuit in the United States regarding a major data breach at Coupang has sparked a dispute over whether the U.S. parent company and Chairman Kim Beom-seok can be held liable. Coupang argues that the incident occurred within its South Korean subsidiary, asserting that the lawsuit against the U.S. parent company and Kim is misplaced.According to court records from the U.S. Eastern District Court of New York, Coupang Inc. and Chairman Kim Beom-seok indicated earlier this month that they would seek to have the lawsuit dismissed.Coupang contends that the data breach originated from its South Korean subsidiary, Coupang Corp., which is a separate entity from Coupang Inc. They emphasized that the plaintiffs have not provided specific evidence showing that Coupang Inc. or Kim were directly involved in security decisions related to the incident.Most key evidence and witnesses related to the case are located in South Korea, and there are ongoing related lawsuits in the country, leading Coupang to argue that there is no reason for the case to be tried in the U.S. They also accused the plaintiffs of engaging in 'forum shopping' by choosing a court that they believe would be favorable to them.The plaintiffs countered that the lawsuit should not be dismissed before confirming the role of the U.S. parent company. They argued that Coupang Inc. has presented Coupang in South Korea as a core business entity to investors, making it inconsistent to claim in court that it is a separate company.They specifically called for a discovery process to verify details regarding data protection, information security policies, incident response procedures, decision-makers, and the reporting and oversight system between the parent company and the South Korean subsidiary.Discovery is a pre-trial procedure in U.S. litigation where parties obtain evidence from each other, including documents, materials, and witnesses.The court has decided not to accept Coupang's request to skip the preliminary hearing and will hold a session on September 1 with both parties present. The court has yet to determine whether it has jurisdiction over the case and whether the lawsuit against Coupang Inc. and Kim will proceed.This lawsuit was filed in February by victims of the data breach against Coupang Inc. and Chairman Kim in the U.S. Eastern District Court of New York.Currently, the key issues revolve around whether the case can be tried in the U.S. and whether the U.S. parent company and Kim can be named as defendants, rather than the liability for damages resulting from the data breach.* This article has been translated by AI. 2026-07-22 06:24:00