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Hanwha Foodtech Launches Integrated Dining Membership 'The Platinum Dining' Hanwha Foodtech announced the launch of its integrated dining membership, 'The Platinum Dining,' which combines benefits from various dining brands on July 21.This membership can be used across 14 major dining brands operated by Hanwha Foodtech, including The Plaza Dining, 63 Skyline Dining, 63 Buffet Pavilion, and Do Won Style.The membership is available in two tiers: 'Signature' and 'Prestige.' The annual fees are 500,000 won for Signature and 1 million won for Prestige. Members of both tiers receive discounts of up to 20% on food and beverages at participating locations. Additionally, electronic vouchers that include holiday special discounts, cash vouchers, and free corkage for wine are provided.Additional benefits are also available for each tier. Signature members will receive electronic vouchers worth 550,000 won, while Prestige members will receive vouchers worth 1.1 million won along with a supplementary card. They can also choose between a premium meal ticket for the 63 Buffet Pavilion or a course voucher for Pablo Grill & Bar.Membership consultations are conducted via phone, and detailed information can be found on The Plaza Dining's official website.A representative from Hanwha Foodtech stated, “We hope that The Platinum Dining will allow customers to experience a wide range of premium dining brands. We will continue to expand tailored benefits and services that reflect customer preferences.”Meanwhile, Hanwha Foodtech has been enhancing its food and beverage competitiveness by unveiling high-end dining spaces. In April, it opened the high-end F&B platform 'The Plaza Dining' in the KT Gwanghwamun Building, and in July, it renovated the 63 Buffet to '63 Buffet Pavilion The Premium' in conjunction with the opening of the Pompidou Center Hanwha.* This article has been translated by AI. 2026-07-21 15:12:00
Dong-A Socio Group Launches Public-Private Heat Illness Prevention Campaign Dong-A Socio Group has launched a public-private campaign aimed at preventing heat-related illnesses among its employees during the summer and promoting a culture of safety.On July 20, Dong-A Socio Group conducted the 'Heat Illness Prevention Campaign' at its headquarters in Dongdaemun-gu, Seoul, targeting its employees, the company announced on July 21.This public-private campaign is an official initiative supported by the Ministry of Employment and Labor, the Korea Occupational Safety and Health Agency, and Dong-A Otsuka. Employees from Dong-A Socio Holdings, Dong-A ST, Dong-A Pharmaceutical, and DAI participated, alongside the Safety Culture Promotion Team from the Korea Occupational Safety and Health Agency, which assisted with heat illness prevention activities.The campaign was organized in response to the increasing frequency and intensity of summer heatwaves due to climate change, aiming to raise awareness about heat-related illnesses and encourage voluntary adherence to prevention guidelines to foster a safe corporate culture. Companies participating in the campaign received certificates of participation from government agencies.Employees who attended the event participated in a 'Heat Illness Prevention Training' program. The program included four stages: temperature measurement, receipt of a leaflet on heat illness prevention and the electrolyte drink Pocari Sweat, practical training related to heat illnesses, and stress index measurement with results provided.Additionally, events were organized to encourage participation and enhance the educational impact. All participants received After Sun Gel Lotion from Party On, and small souvenirs were distributed through a health quiz and a lottery event.A representative from Dong-A Socio Group stated, "The health and safety of our employees are fundamental and core values of sustainable corporate management. We will continue to implement various preventive activities and safety culture campaigns to proactively respond to climate change and create an environment where employees can work healthily and safely."Meanwhile, Dong-A Socio Group includes community service activities in its annual training programs for new employees and continues regular volunteer work.* This article has been translated by AI. 2026-07-21 15:08:00
U.S. Attorney Lee Cheol-jae Releases Book on Hidden Stories of English The sweltering heat of summer is upon us, and there is an English expression that reflects this season: 'Dog Days.' At first glance, one might wonder why it refers to dogs. However, this phrase has historical and astronomical roots, dating back to the ancient Romans, who considered the rising of Sirius, the Dog Star, during summer as the hottest time of the year. Thus, even a familiar English phrase carries centuries of culture and civilization.Lee Cheol-jae, a 61-year-old attorney in the United States, recently published a book titled Opening the World with a Sentence in English, which delves into these hidden stories of the English language.When one hears that an American attorney has written an English book, they might expect it to cover legal terminology or practical conversation. However, this book takes a different approach. It leans more towards a humanities text, discussing history, culture, literature, and art rather than grammar or conversation. Lee's insights, shaped by his experiences studying in the U.S. and his career in law, combined with his long-standing exploration of classical music and global culture, allow him to uncover traces of civilization in even a single English word.Lee's life is as diverse as the content of his book. After graduating from high school in Seoul, he moved to the U.S., where he majored in sociology at Sam Houston State University in Texas and Fordham University in New York. He earned his Juris Doctor (JD) degree from Syracuse University College of Law, known for its strong basketball program. He later obtained his attorney licenses in New York and Washington, D.C., and continues to work in international law, frequently traveling between Korea and the U.S.Law is just one aspect of his life. Having studied classical music from a young age, he has worked as a music planner, bringing renowned performers to South Korea. He has a deep understanding of classical music as well as popular music and the arts from the 1970s and 1980s, regularly writing related columns. He has also authored books on music, cities, and popular culture, including Can I Enjoy Bach?, New York Odyssey, and Endless Stories Engraved in Songs. This time, he has expanded his interests to the English language.The book encourages readers to view everyday English words and expressions from a fresh perspective. For instance, 'Bluetooth' derives from the nickname of Harald Bluetooth, a 10th-century Danish king, while 'Yahoo' symbolizes human greed as depicted in Jonathan Swift's Gulliver's Travels. Modern technological terms like 'drone,' 'phishing,' and 'Wi-Fi' also have intriguing origins.Lee does not merely introduce etymologies; he connects the dots between a single English word and broader themes, including Nordic history, British culture, the Bible, Old English, Shakespeare, world literature, American society, and the evolution of the IT industry. Learning English thus becomes a journey through world history and cultural understanding.Another appealing aspect of the book is the living English stories Lee has experienced firsthand. He shares everyday examples, such as how to order hand-drip coffee in the U.S. using the term 'pour-over,' and provides engaging explanations of cultural events like Thanksgiving, Black Friday, Christmas, and St. Patrick's Day. He believes that understanding a language requires grasping the lifestyle of the society it comes from.Consequently, the book features little in the way of grammatical rules or rote memorization techniques. Instead, it weaves together history, religion, literature, art, sports, and music, transforming English into a field of humanities. It offers new perspectives not only for beginners but also for those who have studied English for a long time.Lee states, 'Even a single English word contains a thousand years of history and a whole civilization. Knowing English opens up the world, and understanding the world makes English even more enjoyable.'Opening the World with a Sentence in English is not just a book for teaching English; it is a book for reading the world through English. The moment readers discover unexpected histories and cultures hidden within familiar words, English becomes not just a subject for exams but a new starting point for the humanities. 2026-07-21 15:04:00
Kolon TissueGene Faces Setback in Phase 3 Trial of TG-C for Osteoarthritis Kolon TissueGene has encountered a setback in its Phase 3 clinical trial of the osteoarthritis gene therapy TG-C (formerly Inboza). The company plans to analyze the unexpectedly high placebo response before finalizing its development schedule and regulatory strategy.On July 21, Kolon TissueGene held a press conference at the Kolon One & Only Tower in Gangseo-gu, Seoul, where it presented a summary of the top-line results from the first Phase 3 trial in the United States and its subsequent development plans.Previously, Kolon TissueGene announced that while pain relief and joint function improvement were confirmed at the 12-month primary endpoints of the trial, statistical significance compared to the placebo group was not achieved.In the first U.S. Phase 3 trial, TGC-15302, the change in Visual Analog Scale (VAS) scores was -38.7 for the TG-C group and -39.2 for the placebo group. The total change in the Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC) scores was -27.61 for TG-C and -26.54 for the placebo.These results are similar to or exceed data from previous U.S. Phase 2 and Korean Phase 3 trials. While the efficacy of TG-C was replicated compared to past clinical results, the company noted a significant placebo response.Jeon Seung-ho, co-CEO of Kolon TissueGene, stated, "Our goal was to demonstrate a difference from the placebo group, but the placebo response was greater than expected. Commercialization is likely to be delayed beyond our initial timeline, and we plan to revise our development schedule once we analyze the causes of this response."The company suggested that ethical considerations in osteoarthritis trials, such as the use of co-administered pain relievers, may have influenced the high placebo response.Concerns regarding the safety of TG-C were not substantiated. The rate of patients who required knee joint replacement surgery due to worsening osteoarthritis was 0.6% in the TG-C group (2 out of 310) compared to 5.3% in the placebo group (8 out of 151).The anticipated timeline for submitting a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) in the first quarter of next year and commercialization in 2028 is now more uncertain. Jeon emphasized, "Our goals remain clear, and we will define our direction based on the analysis results."Kolon TissueGene is set to announce the results of its second Phase 3 trial in the U.S. in October. Although both trials followed the same protocol, they were conducted independently at different clinical trial sites with different evaluators and patient groups.Meanwhile, as of 3 p.m. on July 21, Kolon TissueGene's stock price had dropped by 29.9%, hitting the lower limit. Jeon remarked, "This is not the end, and we hope you consider that there is still a journey ahead. We will continue to communicate transparently with the market." 2026-07-21 15:04:00
Major Changes Expected for Financial Holding Company Leadership by 2028 The financial authorities are expected to announce a governance improvement plan aimed at preventing long-term leadership in financial holding companies this month, leading to anticipated changes in the re-election dynamics of major financial holding company leaders. If implemented, the heads of the four major financial groups (KB, Shinhan, Hana, and Woori) will effectively be limited to two terms, paving the way for generational leadership changes starting in 2028.According to sources in the financial sector, the Financial Services Commission and the Financial Supervisory Service are finalizing the timing for the announcement of the governance improvement plan. While an announcement was initially expected on July 22, no specific schedule has been confirmed yet. The financial community anticipates that the announcement will occur this week or, at the latest, by the end of the month, marking seven months since President Lee Jae-myung criticized financial holding companies as a "corrupt inner circle."The improvement plan is expected to include measures to legally prohibit the third term for financial holding company chairs, moving away from the previous practice of allowing companies to decide on long-term reappointments autonomously. A special resolution requirement may be applied, requiring more than two-thirds approval from attending shareholders for a second term. Additionally, there are discussions to enhance the independence of outside directors and expand the clawback system for executive bonuses in the event of financial misconduct.However, analysts suggest that even if the improvement plan is announced, it may not apply immediately to Yang Jong-hee, the chairman of KB Financial Group, whose term ends in November. Although the reform could have been a variable, the process for selecting the next chairman has already begun, making it likely that existing regulations will still apply. Even if the reforms are legislated, the time required for parliamentary discussions and implementation means they are unlikely to be applied to the upcoming KB Financial chairman selection process.In contrast, significant changes in succession dynamics for other financial holding companies are expected in the medium to long term. Among the four major groups, Chairman Ham, whose term ends in March 2028, will be the first to step down. However, he is ineligible for a third term due to internal regulations that prohibit reappointment beyond the age of 70. Jin Ok-dong, chairman of Shinhan Financial Group, and Lim Jong-ryong, chairman of Woori Financial Group, successfully secured re-election in March of this year, and they may step down around the end of their current terms in March 2029.Industry insiders believe that this reform will impact not only term limits but also the overall leadership development and succession programs for future chairpersons. With the end of chairpersons' terms effectively announced, each financial group will need to systematically manage their next generation of leaders and foster internal competition.A source in the financial sector stated, "There is a consensus on the need to reduce the side effects of long-term leadership and enhance transparency in governance," while also noting, "It is essential to carefully consider the potential drawbacks regarding continuity and expertise in management." 2026-07-21 15:04:00
Government Increases Prices of Essential Medicines, Supply Issues Persist The government has taken steps to stabilize the supply of essential medicines by increasing the prices of exit-prevention drugs, but industry insiders believe these measures are insufficient to encourage expanded production. The rising costs of production are outpacing price adjustments, leading to decreased incentives for manufacturers.As of this month, there are a total of 629 exit-prevention drugs, with Samjin Pharmaceutical's 'Samjin Lorazepam Injection' recently added to the list. Il Dong Pharmaceutical has resumed production of its product 'Ativan (Lorazepam)' after completing a transfer process. Lorazepam is identical in composition and formulation to Ativan, which has been used in medical settings, and is classified as a national essential medicine and exit-prevention drug.The exit-prevention drug system is designed to manage medications that are essential for patient treatment but have low economic viability, making them difficult to supply. This system was introduced to support the supply of drugs that cannot be sustained by market forces alone.The primary factor threatening the supply chain of exit-prevention drugs is low profitability. According to a report by the Health Insurance Review and Assessment Service, low profitability accounted for 20.3% of the reasons for the production and supply stoppage of exit-prevention drugs, the highest percentage recorded. Other reasons included issues with raw material supply (19.0%), production facility problems (17.7%), poor sales (16.5%), and inability to reassess (6.3%). While essential medicines are highly relied upon in medical settings, there is a lack of incentives to continue production.The same report noted that the United States operates a drug shortage reporting system centered around the Food and Drug Administration (FDA) to stabilize the supply of essential medicines. Pharmaceutical companies that contribute to preventing drug shortages are awarded non-financial incentives. Japan supports domestic production of raw materials and adjusts drug prices for exit-prevention drugs twice a year if necessary. South Korea also has related systems in place, but the focus on managing health insurance finances has led to stringent verification processes, making it difficult for the industry to feel the benefits.In response, the government plans to improve the system by raising the designation criteria for exit-prevention drugs by 10% and increasing the price standards for different formulations starting next month. The price for oral medications will rise from 525 won to 578 won, from 40 won to 44 won for oral liquid medications, from 2,800 won to 3,080 won for topical medications, and from 5,257 won to 5,783 won for injectable medications.However, industry representatives argue that these measures alone are not enough to maintain the supply base. Although the prices of exit-prevention drugs are adjusted irregularly, the costs of raw materials, exchange rates, oil prices, and labor are constantly changing, making it difficult to reflect these realities in a timely manner.One industry insider stated, "We have continuously requested that the designation of exit-prevention drugs and the application for cost compensation be made available on a regular basis. Most raw materials are imported from China and India, and payments are made in dollars, making us highly susceptible to exchange rate fluctuations. When oil prices rise, factory operating costs and logistics costs also increase, so we need a system that can timely reflect these costs."Industry voices emphasize that exit-prevention drugs, unlike general medications, have a strong public good nature, necessitating institutional support to maintain a stable supply system. Another industry representative noted, "While there are differences by item, in most cases, even a 10% increase in the price of exit-prevention drugs does not make the economics work. Comprehensive measures that consider raw materials, distribution, and production costs are needed."* This article has been translated by AI. 2026-07-21 15:00:00
Avignon Festival Selects Korean as Official Language for 80th Anniversary This year marks the 80th anniversary of the Avignon Festival in France, which has officially selected Korean as its invited language. This is the fourth language chosen, following English, Spanish, and Arabic, and the first Asian language to be recognized. Among the 47 official invited works, nine are from Korea. Notable performances include a reading play based on Nobel laureate Han Kang's novel There is No Goodbye and a series by Gu Ja-ha, the first Asian recipient of the International Ibsen Award. This marks the first official invitation for Korean works to Avignon in 28 years, since 1998.While this is a cause for celebration, the real lesson lies not in the star-studded lineup but in the way the festival has been developed. Avignon, Edinburgh, and Austin are all considered top festival cities, sharing two common traits. Geographically, Avignon is 700 kilometers from Paris, Edinburgh is 650 kilometers from London, and Austin is 2,800 kilometers from New York. None of these cities built new venues specifically for their festivals.In 1947, director Jean Vilar focused not on the theaters of Paris but on the abandoned 14th-century Palais des Papes in Avignon. The ancient walls, marked by a history of confinement and division, provided a unique outdoor stage, while the summer nights in Provence served as free lighting. This 'reframing' of historical scars as an artistic backdrop transformed the small city of 90,000 into a hub for performing arts, with over 1,600 performances, both official and independent, turning the entire city into a theater for three weeks, generating an annual revenue of 60 million euros.In the same year, eight theater companies in Edinburgh, not invited to the International Festival, set up stages in churches, warehouses, and alleys around the venue, creating a fringe festival. The organizers did not exclude these groups but instead incorporated them into the system. This openness transformed the entire medieval city, perched on volcanic rock cliffs, into a stage, making it the largest performing arts market where producers from around the world come to acquire new works, generating an economic engine worth 852 million pounds.Austin represents a modern version of this model. The South by Southwest (SXSW) festival began in 1987 when local journalists sought to promote local bands, utilizing over 600 live music venues and bars as stages. In 1991, the city adopted the slogan 'Live Music Capital of the World,' and the festival is projected to generate an economic impact of $377 million in 2024, attracting 300,000 visitors. Notably, there is a cyclical structure; part of the hotel tax collected during the festival is reinvested into a fund supporting local musicians, fostering a creative ecosystem.The formula for success can be summarized in two points. First, it is about perspective rather than infrastructure. The palace, fortress, and bar districts existed long before the festival; what changed was the storytelling and branding that reinterpreted these spaces as stages.Second, it involves a combination of professionalism and community engagement. Artists, planners, and creators design the framework, while local residents and business owners implement it. This collaboration has resulted in a fourfold impact: stimulating creativity, building community, energizing the economy, and enhancing city branding.In South Korea today, where the power of K-culture is felt daily, festivals often still view themselves as 'charitable events for residents.' The focus on protocol over planning and short-term results has led to a cycle of similar festivals emerging and disappearing. According to the Korea Institute of Local Finance, the number of local festivals is expected to rise to 1,214 in 2025, a 37.3% increase from 884 in 2019, with large festivals costing over 1 billion won doubling from 75 to 149. However, while external visitors increased by 21.1%, the per capita spending growth remained stagnant at around 0%, and local resident participation dropped by an average of 8.6 percentage points. This indicates a growing budget with diminishing returns.Four recommendations are proposed. First, change the support unit from 'events' to 'consortia.' Support should be directed toward local consortia where artistic directors and creators design the framework, and residents and business owners execute it. Local governments should select multi-year support targets, and the central government should establish agreements with local governments and residents for sustained support over three to five years.Second, establish a verification system. Visitor numbers, per capita spending, and resident participation rates should be mandatory public indicators, and exemplary cases should be disseminated through an annual 'Korea Festival Performance Presentation.' Starting with ten pilot consortia in the first year would be practical.Third, create a system to reinvest a portion of festival profits into local creative and development funds. Similar to Austin's hotel tax reinvestment, this would ensure that festivals do not end with consumption but instead reinvest in the creative sources that drive them.Fourth, delineate the roles of public and private sectors. Avignon operates with a dual structure, where public entities oversee the IN section and a private association established by theaters and companies manages the OFF section. The Edinburgh Fringe Society does not program or operate venues but focuses on ticketing, promotion, and artist support. SXSW is planned and operated by the private sector, while the city handles permits and branding. The principles of public infrastructure and verification, alongside private planning and operation, should be codified.A well-crafted festival serves as an engine for the local economy, connecting tourism, accommodation, and dining, while also serving as a conduit for K-culture to reach the world. Its strength lies not in the size of the budget but in the depth of perspective that reinterprets resources and the hands of citizens who execute it together. It is the density of festivals, not their quantity, that sustains a city, as demonstrated by these three outlying cities over the past 80 years.* This article has been translated by AI. 2026-07-21 14:56:00
Hanmi Pharmaceutical Introduces QR Code-Based e-Label for Digital Drug Information Hanmi Pharmaceutical has launched a QR code-based electronic label (e-label) service, replacing paper inserts and advancing the digital transformation of drug information.On July 21, Hanmi announced that it has initially applied the e-label service to five products, including Yubaktam Injection 750mg, Triaxone Injection 2g Type 1 & Type 2, and Hanmi Cellotaxime Sodium Injection 2g Type 1 & Type 2. Scanning the QR code embedded in the product packaging allows users to access the latest drug information.Drug inserts contain essential information that patients and caregivers must verify before use, but concerns have been raised about the difficulty of finding necessary details due to small print and extensive content. Additionally, the inefficiency of discarding and reprinting existing materials whenever approval details change has been a persistent issue.To address these inconveniences, Hanmi has introduced the QR code-based e-label. This allows users to easily check key information such as efficacy, dosage, and precautions.User convenience has also been enhanced. The text size on the screen can be adjusted in four levels, and a search function enables quick access to desired information. Key categories, including ingredient quantities, characteristics, efficacy, dosage, and precautions, are organized in accessible tabs at the top.For users who may not be familiar with digital environments, the e-label screen includes options to download and save or print a PDF. When printing, unnecessary elements like menus and search bars are automatically excluded, ensuring that only essential information is displayed. Hanmi plans to add an e-label button to the product pages on its website in the future.Hanmi intends to gradually expand the e-label application in consultation with the Ministry of Food and Drug Safety. This initiative is also seen as a contribution to reducing paper usage and carbon emissions, aligning with ESG (Environmental, Social, and Governance) management principles.Ham Yoon-soo, head of the design group at Hanmi Science Communication, stated, "The e-label is a service that enhances accessibility to drug information, making it easier and more convenient to verify. We will continue to advance our digital information provision system to improve user convenience and information accessibility."Meanwhile, Hanmi is expected to report strong performance for the second quarter of this year, influenced by receiving an upfront payment from Eli Lilly for the technology transfer of the new drug candidate 'Sonepeglutide' for short bowel syndrome.According to consensus estimates compiled by financial information firm FnGuide, Hanmi's projected consolidated revenue for the second quarter is 438 billion won, with an operating profit of 104.2 billion won, representing increases of 21.2% and 72.3%, respectively, compared to the same period last year.* This article has been translated by AI. 2026-07-21 14:56:00
South Korea's Blue House Delays Discussion on Corporate Excess Profit Distribution The Blue House has postponed a meeting of senior advisors that was set to address the distribution of corporate excess profits. This decision appears to stem from backlash from the business community and a recognition that further social discussion is needed. However, the postponement leaves the issue unresolved.Excess profits refer to excessive earnings resulting from temporary monopolies in the market, unexpected fluctuations in supply and demand, or wealth generated by a global boom in specific industries. This concept is typically associated with resource development companies in sectors like oil, gold, and diamonds.The situation in the semiconductor industry is different. The profits generated here are the result of legitimate market competition among global rivals. These earnings are the outcome of significant investments and technological innovations made at considerable risk. Therefore, discussions about sharing excess profits in light of the current semiconductor landscape seem premature.Moreover, it is challenging to justify a discussion about requiring companies to return the results of their legally and ethically sound business activities to society. Companies take on risks and uncertainties with every investment, and when markets cool or businesses fail, the astronomical losses are not covered by the state or society.If losses are borne by private enterprises while profits during boom periods are claimed by the public, no company will be incentivized to invest in innovation. This becomes clearer when looking at other industries.Global luxury brands often generate profits that are hundreds of times their costs, relying on brand value. How should we view real estate development profits, where individuals or companies make billions due to location, regulatory changes, or rising land prices? If a stock I purchased unexpectedly increases tenfold, should that be considered excess profit?If the government's discussion of 'excess profit' refers to 'gains exceeding expectations,' then logically, all cases are similar. However, individuals who sell real estate are recognized for their investment performance after paying capital gains and property taxes. The same applies to stock investments. There is no argument for reclaiming excess profits from those individuals.The same principle applies to companies that pay corporate taxes and earn profits through innovation. While it is possible to encourage investment for the innovation and future of the industry, demanding additional distribution framed in a value-biased manner contradicts fairness.There is also a significant distortion and disregard for the current tax system. Corporate tax is structured progressively, meaning that as a company's profits increase, its tax burden also rises. When a company exceeds performance expectations, the taxable base increases significantly, leading to a substantial rise in 'excess tax revenue' collected by the state.Thus, a considerable portion of corporate profits is already returned to society through the existing tax system. Imposing additional punitive distribution responsibilities on companies that have paid substantial taxes according to established rates constitutes double taxation and severely undermines legal stability.The retained earnings and profits of companies are not idle funds. They serve to build resilience against upcoming recessions and provide the necessary capital for reinvestment in future advanced technologies like AI and semiconductors in a rapidly changing global competitive environment. Encouraging companies to keep their profits for autonomous investment is the most effective way to create a virtuous cycle that leads to job creation and enhanced national competitiveness.Unless there is intentional monopolization or illegal activity, the legitimate achievements gained by companies taking risks should be recognized as theirs. Given that social contributions are already sufficiently made through the tax system, artificially imposed distribution theories riddled with logical contradictions should be avoided.Creating a market-friendly environment that allows companies to invest freely and generate greater value is the true path to benefiting the national economy and society as a whole. 2026-07-21 14:56:00
AI Stocks Plummet Amid Global Concerns; Big Tech Earnings on the Horizon The global AI stock market has taken a hit, exacerbated by the recent unveiling of China's Moonshot AI's ultra-low-cost open model, Kimi K3. This week, the upcoming earnings reports from major U.S. tech companies are expected to determine the future of the AI rally.According to financial industry sources, the release of Kimi K3 on July 17 (local time) was a direct catalyst for the sharp decline in global AI stocks. The Philadelphia Semiconductor Index fell 1.63% on that day, marking a 20.2% drop from its peak on June 22. In the New York market, semiconductor stocks like Nvidia (-2.2%), Intel (-2.0%), and AMD (-1.0%) saw declines, along with major tech firms such as Meta (-2.7%) and Alphabet (-3.2%).The domestic stock market was not spared from the fallout. The KOSPI closed on July 20 at 6,516.27, down 304.33 points (4.46%) from the previous trading day. However, on July 21, it rebounded by over 3%, as domestic semiconductor stocks had largely priced in concerns over a slowdown in AI investment, and bargain-hunting activity helped limit the losses, according to market analysts.The first major test for the market will come after the close on July 22, when Alphabet is set to release its second-quarter earnings. As the first among hyperscalers to report, Wall Street's consensus anticipates revenue of $116.84 billion (approximately 172 trillion won), a 21.2% increase from the same period last year, with earnings per share (EPS) projected at $2.89.Alphabet's cloud division saw a significant revenue increase of 63% year-over-year in the first quarter, reaching $20 billion, with a backlog of $462 billion, nearly double from the previous quarter. Observers will be watching to see if this growth trend continues.On the same day, Tesla will also report its earnings, with consensus estimates of $26.4 billion in revenue and an EPS of $0.54. Tesla has already announced a surprise delivery figure of 480,126 units for the second quarter, exceeding market expectations by over 70,000 units, but the focus will be on its ability to maintain margins. The options market reflects an expected volatility of 7.6%.Intel will follow on July 23, with varying estimates from different agencies suggesting an EPS in the range of $0.10 to $0.20 and revenue around $14.4 billion. A turnaround from a loss of $0.10 per share in the same quarter last year is anticipated.The options market indicates a potential stock price fluctuation of about 15% following Intel's earnings report, significantly higher than the average fluctuation of 0.41% over the past four quarters. This suggests that the market views this earnings report as a critical event for assessing the direction of Intel's foundry business.The key issue is whether the capital investment trends among big tech companies, led by Alphabet, will remain stable. With the emergence of low-cost open models from China, concerns about profitability in relation to AI investments have intensified. If hyperscalers signal a reduction in capital investment guidance, it could have repercussions for domestic semiconductor supply chains, including HBM and foundry sectors.Conversely, if capital investment trends are maintained or increased, some argue that this adjustment may only be a short-term supply event.* This article has been translated by AI. 2026-07-21 14:52:00