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  • Korean Stock Market Sees Largest Decline Since June, Losing 100 Trillion Won in a Month
    Korean Stock Market Sees Largest Decline Since June, Losing 100 Trillion Won in a Month The KOSPI index has plunged approximately 26% over the past month, making it the worst-performing major stock market globally. This marks a stark reversal from being the top-performing market in the first half of the year. The extreme volatility has led to a noticeable outflow of funds from the stock market. Since June, investor deposits, which serve as standby capital for the market, have decreased by over 30 trillion won.According to the Korea Exchange, from the peak recorded on June 22 to July 20, the KOSPI's decline reached 28.51%, the lowest among major global indices. Even with a 3.56% rebound on the day, the monthly decline stands at 25%. This drop surpasses declines in other major markets, including Russia's RTSI (-18.71%), Taiwan's TAIEX (-11.08%), and Japan's Nikkei 225 (-10.46%). Compared to the U.S. Nasdaq (-2.52%) and Dow Jones (+0.24%), the KOSPI's drop is significantly steeper.The stock market's sharp decline has also led to a clear reduction in investment funds. Since early June, foreign investors have sold a net total of 70.9399 trillion won in the securities market alone. Cumulatively, the net selling since the beginning of the year has reached 190.5351 trillion won, equivalent to about 3.6% of the KOSPI's average market capitalization this year, marking the highest level since the global financial crisis in 2008 (4.6%). As the downturn persists, individual investors are increasingly adopting a wait-and-see approach. Investor deposits peaked at 139.6948 trillion won on June 4 but have steadily declined to 108.0818 trillion won as of July 16, a drop of over 31 trillion won in just one month.Experts attribute the recent decline not to deteriorating fundamentals but to a chain liquidation of leveraged funds concentrated in AI-led stocks and supply-demand limitations in semiconductor sectors. Byun Jun-ho, a researcher at IBK Investment & Securities, noted, "The foreign net selling ratio over the past 60 days has reached an extreme oversold level, observed only four times since 2005. With the KOSPI's 12-month forward price-to-earnings ratio dropping to 5.7 times, we expect a rebound driven by value buying to occur."* This article has been translated by AI. 2026-07-21 17:44:00
  • Daiso Expands Food Offerings as Shoppers Embrace Convenience
    Daiso Expands Food Offerings as Shoppers Embrace Convenience Daiso, once primarily seen as a store for household goods, is increasingly establishing itself as a destination for food purchases. With an expanding range of products that now includes not just snacks and chocolates but also nuts, seasonings, ready-to-eat meals, and side dishes, the sales in the food category are growing rapidly. Daiso's focus on affordable prices and smaller package sizes has positioned it as a new food distribution channel amid rising inflation, prompting food companies to launch exclusive products and expand collaborations.According to market research firm Embrain Purchase Deep Data, the estimated sales in Daiso's food category for the past year (June 2025 to May 2026) reached 182.38 billion won, a 14% increase from 159.92 billion won in the same period the previous year. This growth reflects a rising consumer demand for budget-friendly food options, solidifying Daiso's reputation as a go-to for value-oriented food purchases.In terms of sales volume, box snacks (45.88 billion won), bagged snacks (42.51 billion won), and chocolates (19.61 billion won) topped the list. Together, box and bagged snacks accounted for 48.5% of total food sales, indicating that consumers continue to purchase snacks alongside their household goods.Notably, there has been a shift in the types of products being purchased. The highest growth rate was seen in nuts and dried fruits, which increased by 73.1% compared to the previous year, followed by seasonings (68.4%), fish jerky (51.0%), ready-to-eat meals (47.7%), juices (42.2%), and canned goods and side dishes (40.7%). The food section, once dominated by snacks, is now evolving into a space where simple grocery shopping is possible.This change aligns with Daiso's channel characteristics. The price range of 1,000 to 2,000 won and smaller package sizes reduce consumer purchasing burdens and encourage the trial of new products. Manufacturers are increasingly using Daiso as a testing ground to quickly gauge consumer reactions to new products at a lower cost. The rise in inflation and the increase in single-person households are also cited as factors supporting the expansion of everyday food consumption.Food companies are adapting their strategies as well. Earlier this year, Orion, Lotte Wellfood, Crown Confectionery, and Haitai Confectionery collaborated on a special exhibition for Daiso called 'Trend Korea 2026,' showcasing limited-edition products that restored the original packaging of popular long-standing brands. These products, enhanced with new concepts, attracted consumer interest, leading to some items selling out quickly.Recently, products targeting the health food market have also emerged at Daiso. Samjin Pharmaceutical recently launched its 'Better Fit High-Protein Low-Sugar Shake' through Daiso, priced at 1,000 won per packet, about one-third of the cost of similar products. This significant price reduction has drawn in a new consumer base.Daiso's expansion is not limited to human food; it is also increasing its presence in the pet food market. Dongwon F&B's pet brand 'Aruru' recently launched 16 types of dog snacks, including 'Bap-Kku' (rice decoration snacks), available at all Daiso stores and online for 1,000 won each. These pet food products are also leveraging Daiso's affordable pricing and small packaging to tap into the growing pet food market.Industry experts believe that the trend of consumers purchasing food while shopping for household goods is becoming commonplace, and the focus on value and smaller sizes will further enhance Daiso's influence in the food sector. A representative from the food industry stated, 'Channels like Daiso, which focus on household goods, are key targets with high growth potential in the domestic market. Although the overall sales contribution is still small, the rapid growth rate suggests we are aiming for double-digit growth as we expand supply.'* This article has been translated by AI. 2026-07-21 17:32:00
  • Court Allows Live Broadcast of Verdict in Oh Se-hoon Case
    Court Allows Live Broadcast of Verdict in Oh Se-hoon Case The court has approved a live broadcast of the verdict in Seoul Mayor Oh Se-hoon's trial for violating political funding laws.The Seoul Central District Court's Criminal Division 22 announced on July 22 that it has granted a request from the special prosecutor's team, led by Kim Geon-hee, to broadcast the verdict at 2 p.m. on that day.The broadcast will be conducted using the court's own equipment, with the video made public after the verdict is announced. The court has allowed live broadcasts of certain high-profile cases in the interest of public awareness.Oh is accused of receiving opinion poll results from political broker Myung Tae-kyun on ten occasions before the April 2021 Seoul mayoral by-election and having businessman Kim Han-jeong cover the costs of 33 million won. He was indicted without detention in January of last year.During the trial, the special prosecutor's office sought a sentence of one year and six months in prison along with a fine of 33 million won. In contrast, Mayor Oh has denied the allegations, stating, "I have never had anyone cover the costs of opinion polls."If Oh receives a fine of over 1 million won in this case, he will lose his position under the Public Official Election Act.* This article has been translated by AI. 2026-07-21 17:28:00
  • People Power Party Ends Boycott, Will Participate in National Assembly Reorganization
    People Power Party Ends Boycott, Will Participate in National Assembly Reorganization 국민의힘은 21일 여야가 6·3 지방선거 투표용지 부족 사태 관련 특검법 처리에 합의하면서 국회 일정 보이콧을 철회하고 복귀하기로 했다. 국민의힘은 오는 23일 야당 몫의 7개 상임위원장을 선출할 예정이다. 정점식 원내대표는 이날 국회에서 열린 의원총회를 마친 뒤 기자들과 만나 "오늘부터 우리 당은 상임위원장 선임 절차에 들어간다"며 "더불어민주당과 합의한 대로 목요일 오전에 상임위원장 당내 선거를 하고 오후에 본회의를 진행할 예정"이라고 밝혔다.정 원내대표는 "법제사법위원회를 일방적으로 가져간 민주당의 행태는 여전히 수긍하지 못하고 강한 거부 의사를 표명한다"면서도 "형사소송법 개정안 등 각 상임위별 다양한 현안들이 있기 때문에 원 복귀에 대해서는 일단 추인했다"고 설명했다.아울러 "참정권 침해 특검법 관련한 특검 추천 절차에 대한 여야 합의를 추인했다"며 "민주당과 합의한 특검법과 관련해 수사 대상과 범위, 수사 기간 등에 대해서는 여전히 추가 협의를 하기로 했고, 오늘은 특검 추천 절차에 대해서만 합의했다"고 강조했다. 앞서 더불어민주당은 법사위를 포함한 11개 상임위원장을 단독 선출했다. 국민의힘 몫으로 외교통일·보건복지·산업통상자원중소벤처기업·교육·국토교통·성평등가족·정보위원회 등 7개 상임위원장이 남은 상태다.* This article has been translated by AI. 2026-07-21 17:24:00
  • Japan Confirms Honebuto Policy with 336.2 Trillion Yen Investment by 2040
    Japan Confirms 'Honebuto Policy' with 336.2 Trillion Yen Investment by 2040 Japan's government finalized its 'Honebuto Policy' during a cabinet meeting on July 21, outlining key policies and budgetary directions for the upcoming year. This marks the first Honebuto Policy established since the administration of Prime Minister Sanae Takaichi took office. The plan includes over 370 trillion yen (approximately $3.36 trillion) in public and private investments in strategic sectors such as artificial intelligence (AI) and semiconductors by the fiscal year 2040, while also retracting the goal of achieving a primary budget surplus in a single year.The Takaichi administration aims to formalize 'responsible active fiscal policy' as the guiding principle for economic and fiscal management, with a target of achieving real economic growth exceeding 1% and nominal growth surpassing 3%. However, amid rising long-term interest rates and controversy over the government's influence on the Bank of Japan's rate hikes, language regarding the independence of the Bank of Japan was added at the last minute.According to reports from Yomiuri Shimbun and others, the Japanese government plans to invest over 370 trillion yen in 62 products and technologies across 17 strategic sectors, including AI, semiconductors, quantum technology, and next-generation energy, by the fiscal year 2040. To support this, a new 'Strong and Prosperous Japan' investment budget will be established, allowing for concentrated budget allocations over multiple years in growth sectors. The government aims to increase private capital investment to 250 trillion yen annually by 2040 and expand nominal GDP to nearly 1,100 trillion yen.This separate budget will not impose a cap on budget requests, marking a shift from the previous approach of uniformly restraining overall expenditures. The government has designated the fiscal year 2027 as the 'first year of responsible active fiscal policy' and is preparing a long-term economic and fiscal plan looking ahead to 2040. Ongoing projects will be reflected in the initial budget, while supplementary budgets will be limited to urgent matters such as disasters and economic crises.The goals for fiscal management have also undergone significant changes. The primary balance (PB), a key indicator of fiscal consolidation for national and local governments, will no longer aim for a single-year surplus but will be managed over multiple years. Temporary deterioration of the PB due to economic fluctuations or investment needs will be permitted.Debt Ratio Stability GoalInstead, the government has set a core objective of steadily reducing the national debt-to-GDP ratio. The plan is to grow the economy through government investment, thereby increasing GDP and lowering the debt ratio. The term 'fiscal consolidation,' used since the first Honebuto Policy in 2001, has been replaced with 'ensuring fiscal sustainability.'Takaichi stated, "We will break the trend of excessive austerity and lack of future investment and significantly expand domestic investment." While the government maintains that it is not weakening fiscal discipline, concerns have arisen that active fiscal policy could lead to increased government bond issuance, especially given that Japan's debt-to-GDP ratio is the highest among the G7 nations. The government has pledged to ensure that the scale of bond issuance does not undermine market confidence and to transparently explain its fiscal management policies.Language related to the Bank of Japan's monetary policy was also modified from the original draft. The draft released at the end of June included a statement emphasizing the importance of appropriate monetary policy management to achieve a strong economy. This led to interpretations in the market that the Takaichi administration was attempting to control the Bank of Japan's interest rate hikes. The removal of the term 'fiscal consolidation' resulted in a sell-off of government bonds, rising long-term interest rates, and a decline in the value of the yen, a phenomenon referred to as the 'Honebuto Shock.' The yield on Japan's 10-year government bonds surged to 2.9% on July 9, the highest level in nearly 30 years since 1996. Long-term interest rates, which were around 1.6% when the Takaichi administration took office last October, are now fluctuating around 2.7%.To calm market anxieties, the final policy document includes a footnote citing Article 3 of the Bank of Japan Law, stating, "The specific means of monetary policy are entrusted to the Bank of Japan." Minister of Economic and Fiscal Policy, Minoru Kawai, explained at a press conference on July 21 that this footnote was one of the revisions reflecting the opinions and concerns of the ruling party. Asahi Shimbun noted that it is unusual for the government to emphasize the independence of the Bank of Japan, a self-evident principle.However, despite the addition of language regarding independence, the Takaichi administration's commitment to active fiscal policy remains unchanged. Shotaro Kugo, a senior researcher at the International Monetary Fund, told Asahi Shimbun, "This Honebuto Shock is evidence that the financial market is concerned about the Takaichi administration's fiscal management. How the market's warnings are reflected in future policies will be crucial."* This article has been translated by AI. 2026-07-21 17:20:00
  • Nolans Odyssey Receives Praise for Unique Trojan Horse Scene
    Nolan's 'Odyssey' Receives Praise for Unique Trojan Horse Scene Christopher Nolan's latest film, 'Odyssey,' premiered in the United States on July 17, and its Trojan Horse sequence has become a topic of discussion. CNN praised this scene for reinterpreting ancient Greek mythology from a fresh perspective, calling it a highlight of the film.On July 21, CNN reported, "While most works depict the Trojan Horse from the perspective of the Trojans, Nolan tells the story from the viewpoint of the Greek soldiers hidden inside the horse."The original ancient Greek epic 'Odyssey' does not detail the Trojan Horse scheme extensively. However, Nolan expanded this scene into a central sequence of the film. It begins with Trojan soldiers discovering a massive horse that appears abandoned on the beach, then shifts to the perspective of the Greek soldiers hidden inside, vividly portraying the situation.A Canadian associate professor of Greek and Roman studies remarked to CNN, "I can't recall a film that has depicted the harsh conditions the Greek soldiers endured inside the Trojan Horse so realistically. Previously, most narratives focused on the Trojans contemplating how to deal with the horse."This scene is also an idea that Nolan has been developing for nearly 20 years. He was originally set to direct the 2004 film 'Troy,' starring Brad Pitt, but left the project for various reasons. In multiple interviews, Nolan has expressed, "I have long pondered how to depict the Trojan Horse."The filming technique was also notably realistic. According to CNN, lead actor Matt Damon shared in an interview with gaming outlet 'GamesRadar+' that Nolan and the cinematographer filmed inside an actual horse set with about 20 actors using IMAX cameras.Damon recalled, "The claustrophobia I felt at the time was not pre-calculated; it naturally arose during the process of creating the scene together inside."CNN noted, "Nolan has flipped the long-standing imagery of the Trojan Horse, allowing the audience to experience fear and tension from inside the horse itself," describing this scene as one of the most intense and memorable sequences in the film.Meanwhile, Nolan's new film 'Odyssey' is set to be released in South Korea on August 5.* This article has been translated by AI. 2026-07-21 17:20:00
  • Iran Reaffirms Control Over Strait of Hormuz Amid Ongoing U.S. Hostilities
    Iran Reaffirms Control Over Strait of Hormuz Amid Ongoing U.S. Hostilities As tensions escalate between the United States and Iran over control of the Strait of Hormuz, Iran has stated it will maintain a blockade of the strait as long as U.S. hostilities continue.On July 21, Al Jazeera reported, citing a military source from Iran's semi-official Fars news agency, that the Strait of Hormuz will remain closed as long as aggressive actions from the U.S. persist.The source indicated that Iran will not grant permission to any vessels attempting to pass through the strait. "The Strait of Hormuz is fully controlled by the Iranian military," the source emphasized, adding that decisions regarding reopening the strait or continuing navigation restrictions will be made solely based on security considerations and national interests. He further stated, "There will be no change in the current situation as long as U.S. threats and hostile actions continue."Meanwhile, diplomatic efforts to find a resolution are ongoing. Iranian Interior Minister Eskandar Momeni, who arrived in Pakistan the previous day, is set to meet with Prime Minister Shehbaz Sharif and Army Chief Asim Munir to discuss a U.S.-Iran tension reduction plan facilitated by Pakistan and Qatar. Momeni is also expected to convey a message from Iranian President Ebrahim Raisi.Additionally, Lebanese President Joseph Aoun is scheduled to meet with U.S. President Donald Trump in Washington to discuss the withdrawal of Israeli troops from southern Lebanon and support for the Lebanese military. The cessation of Israeli hostilities against Lebanon is included in a memorandum of understanding (MOU) between the U.S. and Iran, and Lebanon and Israel announced an agreement last month regarding the withdrawal of Israeli forces and the disarmament of Hezbollah. However, Israeli troops remain stationed in some areas, leaving tensions unresolved.* This article has been translated by AI. 2026-07-21 17:20:00
  • Debate Erupts Over Abolishing Supplementary Investigation Rights in Criminal Procedure Law
    Debate Erupts Over Abolishing Supplementary Investigation Rights in Criminal Procedure Law On July 21, the Democratic Party held a public hearing regarding the controversial reform bill aimed at abolishing supplementary investigation rights, where experts expressed conflicting views. Some argued that monopoly leads to corruption, while others contended that the Jang Yoon-ki case is an isolated incident.Han Byeong-do, the party's acting leader and floor leader, stated at the National Assembly's policy meeting for the public hearing, "We have created a forum to alleviate even 1% of the anxiety felt by the public during the process of institutional improvement," adding, "Judicial reform is a solemn mandate from the people to rectify the abuses of unchecked power and to create a society where all are equal."He emphasized, "The Democratic Party will focus its efforts on completing a criminal justice system that serves the people and achieving judicial reform."Kim Kyu-hyun, a lawyer and former prosecutor, pointed out, "If the police monopolize investigative rights and the prosecution monopolizes prosecutorial rights, corruption is inevitable." He advocated for the decentralization of investigation and prosecution, suggesting that investigations should be led by the police, with the prosecution correcting any issues through supplementary investigation rights. He also proposed that the prosecution should lead prosecutions while the courts should have supplementary prosecutorial rights.Conversely, lawyer Kang Dong-pil, a former police officer, remarked, "While the Jang Yoon-ki case is regrettable, it is not reasonable to make policy decisions based on emotional responses to specific incidents." He asserted, "Even without supplementary investigations by prosecutors, the practical aspects of investigations are already handled by the police. Through prompt pre-cooperation with the prosecution and external oversight, there should be no blind spots in protecting vulnerable members of society."Additionally, the discussion featured contributions from Kim and Kang, as well as Park Chan-woon, a professor at Hanyang University Law School, Yoo Seung-ik from Myongji University, Hwang Mun-kyu from Joongbu University, and Kim Hye-jung, head of the Korean Sexual Violence Counseling Center. 2026-07-21 17:16:00
  • South Korea Disbands Military Intelligence Agency, Establishes New Defense Units
    South Korea Disbands Military Intelligence Agency, Establishes New Defense Units The South Korean government has approved a plan to disband the Military Intelligence Command and redistribute its core functions to the newly established Defense Intelligence Agency, the Defense Security Support Command, and the Defense Investigation Agency. This marks the end of the Military Intelligence Command, which was originally established in 1977 as the Military Security Command, after 49 years of operation.President Lee Jae-myung chaired the 31st National Security Council meeting at the Blue House on July 21, where 20 presidential decrees and one general agenda item were reviewed and approved.According to the approved decree to abolish the Military Intelligence Command, the agency's responsibilities for intelligence, investigation, and security will be transferred to the Defense Intelligence Agency, the Defense Investigation Agency, and the Defense Security Support Command, respectively. Legal grounds for the establishment and operation of these new organizations have also been prepared.The key focus of this reorganization is to dismantle the previously centralized Military Intelligence Command and restructure it into specialized agencies based on their functions.The Defense Intelligence Agency and the Defense Security Support Command are set to be established on July 31. The Defense Intelligence Agency will handle intelligence activities related to defense and defense industry, as well as cybersecurity, while the Defense Security Support Command will oversee security audits and investigations of security incidents at the corps level and above.The security investigation functions of the former Military Intelligence Command and its joint investigation authority during martial law will be transferred to the Defense Investigation Agency.Additionally, functions related to monitoring and personnel intelligence, which have been a source of controversy in the Military Intelligence Command's history, as well as tasks related to illegal and corrupt information gathering, will be abolished institutionally.During the meeting, a proposal to revoke 130 honors awarded to 119 individuals involved in martial law and espionage cases was also approved. This includes the cancellation of honors for Admiral Kim Jong-gon (Order of Military Merit, Eulji). President Lee stated that the government has effectively addressed long-standing distortions by revoking these awards.To promote youth farming and rural settlement, a revision to the Agricultural Land Act was also approved, allowing the establishment of cafes and bakeries on agricultural land. Under current law, such establishments cannot be operated on agricultural land. However, in the future, agricultural producers or agricultural corporations will be able to obtain permits to establish food service businesses using their own agricultural products.The scope of highway toll exemptions, previously limited to the disabled and national merit recipients, will be expanded to include multi-child families under a revision to the Toll Road Act. Families with two or more children under 19 will be eligible for toll discounts on weekends and holidays, with a 10% discount for two-child families and a 20% discount for families with three or more children.In line with the implementation of a revision to the Industrial Safety and Health Act, which requires businesses to publicly disclose their safety and health status annually starting August 1, detailed criteria for this disclosure were also approved. The disclosure requirement will apply to employers with 500 or more regular employees or those with annual construction project amounts exceeding 120 billion won.* This article has been translated by AI. 2026-07-21 17:16:00
  • Lee Chan-hee of Samsungs Compliance Committee Calls for Humility Amid Controversies
    Lee Chan-hee of Samsung's Compliance Committee Calls for Humility Amid Controversies Lee Chan-hee, chairman of Samsung's Compliance Committee, emphasized the need for humility in the face of ongoing disputes over performance bonuses and labor relations following the conclusion of wage negotiations at Samsung Electronics. He stated that both policy and corporate operations should be oriented towards the public.During a regular meeting of the fourth-term Compliance Committee held on July 21 at Samsung Life's headquarters in Seocho, Seoul, Lee addressed key issues surrounding Samsung Electronics in a conversation with reporters.He likened the recent volatile business environment in the first half of the year, including the performance bonus controversy, to a "rollercoaster" and quoted a favorite Korean proverb, "Gogo Sachu Jiman Gyeil," which warns against complacency when at the top and the dangers of overflowing when full. This underscores the need for restraint and humility in corporate governance and policy implementation."It is indeed challenging to predict changes in labor relations and stock prices in the first half of the year," he said, stressing that both government policies and corporate operations must maintain a humble attitude towards the public.He also referenced Article 119 of the South Korean Constitution, stating, "The national economic order must proceed according to principles within the framework of the Constitution." This article respects the economic freedom and creativity of individuals and businesses while ensuring fair income distribution and harmony among economic entities. His remarks were interpreted as a call for balance and harmony between labor and management amid recent conflicts over compensation disparities between business units and the political debate over excess profit distribution following the establishment of special performance bonuses.However, Lee clarified that there are currently no specific agenda items under review by the Compliance Committee regarding the performance bonus issue. He maintained a cautious stance, indicating that they would consider any formal requests or board agenda items that arise in the future.Regarding the three mega projects planned in Jeonnam and Gwangju, he noted, "There has not yet been any concrete progress on investments in the Honam region, so it is not the time to discuss whether to review them." He added that if the projects are formally proposed, they will examine the circumstances under which investment plans were initiated and whether proper procedures were followed within the framework of compliance.Nevertheless, Lee made it clear that the Compliance Committee is not a management body and does not engage in specific management decisions.For the second half of the year, he stated that the Compliance Committee plans to focus on developing various opinions on significant social issues, such as labor relations, from a compliance monitoring perspective.* This article has been translated by AI. 2026-07-21 17:16:00