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  • Ruling Party Urges Opposition to Stop False Propaganda Over Presidents Property Sale
    Ruling Party Urges Opposition to Stop 'False Propaganda' Over President's Property Sale The Democratic Party criticized the People Power Party on July 21 for its attacks regarding President Lee Jae-myung's recent sale of an apartment in Bundang, Seongnam, where a mortgage of 1.77 billion won was established before the property was sold for 2.9 billion won. The party accused the opposition of spreading 'absurd speculation and false propaganda' and called for an immediate halt to the dissemination of 'fake news' aimed at tarnishing the president's reputation.Spokesperson Park Hae-cheol stated during a briefing at the National Assembly, 'The president completed the sale of his residence for 2.9 billion won, which is below the market price. This reflects a strong commitment to implementing policies for real estate normalization.' Previously, President Lee sold the apartment he had owned for 28 years, becoming a non-homeowner. The transfer of the apartment's title occurred on July 16, and it is reported that a mortgage of 1.77 billion won was established in the name of the president and his spouse.On the previous day, the Blue House explained, 'The sale was made at a price lower than the market value of 2.9 billion won. Although there is no obligation to sell as a single homeowner, this action demonstrates the president's commitment to real estate normalization.' Regarding the mortgage of 1.77 billion won, they noted, 'The details of the registration are due to the buyer's circumstances.'In response, the People Power Party criticized the establishment of the mortgage, which listed the buyers as debtors, calling it a 'loophole' and demanding an explanation of the transaction process. Floor leader Jeong Jeom-sik remarked at a party meeting, 'I couldn't help but be impressed by this method of evading loan regulations. The ruling party should change its name from the Democratic Party to 'Democratic Mortgage.'Party leader Jang Dong-hyuk also expressed his views on Facebook, stating, 'As the public struggles with real estate loan regulations, the president has personally proposed a solution: seller loans, 'Democratic Mortgage.' He criticized the government for previously claiming that easing loan restrictions would lead to speculation, while now creating both the regulations and the loopholes.'As the opposition's attacks continued, Spokesperson Park emphasized, 'Had the president retained ownership of the property, he could have fully enjoyed the benefits of the membership rights and potential value increase without any restrictions. Considering that reconstruction is about to be actively pursued, the sale of the president's residence is not a transaction that realized a market profit but rather a decision to voluntarily forfeit membership rights.'He added, 'Despite this, the People Power Party is framing the consideration given to the buyer's circumstances during the sale as a form of circumvention. The decision to transfer ownership before receiving the final payment was made to accommodate the buyer's acquisition of membership status and financial situation, which the seller took on the risk of recovery.'Furthermore, he stated, 'This is not a 'loophole' as claimed by the People Power Party, and it is entirely different from 'usury.' It is a notion that could only arise from the People Power Party, which has engaged in various real estate loopholes and speculation by exploiting legal gaps. Their actions appear to be driven by a malicious intent to undermine the president's commitment to stabilizing the housing market through fake news and propaganda.'He concluded by urging the People Power Party to immediately cease the dissemination of fake news aimed at damaging reputations and called for a genuine commitment to legislative discussions in the National Assembly to stabilize the real estate market. 2026-07-21 14:28:00
  • People Power Party Proposes Election Reforms Following Ballot Shortage
    People Power Party Proposes Election Reforms Following Ballot Shortage 국민의힘은 6·3 지방선거 투표용지 부족 사태와 관련해 사전투표제 폐지와 선거관리위원회 독립 감찰기구 설치 등 선관위 구조 개혁을 위한 법안을 추진하기로 했다. 국민의힘은 21일 국회에서 '제9회 전국동시지방선거 투표용지 부족사태 등 국민참정권 침해 진상규명 및 선거관리 개혁을 위한 국정조사특별위원회'와 '6·3 국민참정권 침해 진상규명 및 선거관리 개혁 특별위원회' 연석회의를 열고 선거제도와 선관위 개혁 방안을 논의했다. 장동혁 대표는 "광장에 모인 시민들의 바람은 소중한 내 한 표를 돌려달라는 것"이라며 "그러기 위해 야당이 주도하는 국민 특검을 관철시키고, 책임자를 처벌하고, 선관위와 선거제도를 개혁해달라는 것"이라고 주장했다.이어 "이제 광장에 모인 시민의 함성과 뜻을 담아 국회가 국민께 답을 해야 될 때가 됐다"며 "국조특위에서 더 치밀하고 강력하게 추진해서 특검으로 가는 길을 열어달라"고 당부했다.정점식 원내대표는 "국민들은 왜 투표용지가 부족했는지, 누가 책임져야 하는지, 왜 지금까지 아무도 책임 안 졌는지 묻고 있다"며 "하지만 선관위는 독립된 헌법기관이라는 이름 뒤에 숨어서 사건을 축소하고 책임을 회피하기에 급급하다"고 지적했다.아울러 "국정조사에 이어서 특검 수사를 통해 한 점 남김 없이 의혹의 진상을 밝혀내야 한다"며 "국정조사와 특검이 밝혀낸 진상규명 결과에 따라 선관위 해체 수준의 개혁이 반드시 이뤄져야 한다"고 강조했다.국민의힘 선거관리 개혁특위 위원장인 박대출 의원은 연석회의 종료 후 기자들과 만나 "개혁특위에서 당론으로 추진하기로 한 사전투표제 폐지는 오늘 회의에서 이견 없이 공감대를 형성했다"며 "선관위 구조개혁, 투·개표 시스템 투명화 등을 위한 최소 8개 법안 플러스 알파가 필요하다"고 밝혔다. 그러면서 △선관위와 분리된 독립 감찰기구 설치 △선관위 내부 공익신고자 보호 규정 법률 명시 △각급 선관위 통폐합 △투표용지 100% 인쇄 의무화 등을 제시했다. * This article has been translated by AI. 2026-07-21 14:24:00
  • K League Trip Day Combines Soccer and Local Tourism
    K League Trip Day Combines Soccer and Local Tourism Traveling to support their teams is transforming into a rich local experience. Fans are moving beyond simply attending matches to enjoy local cuisine and attractions as part of a comprehensive tourism package.The Korea Tourism Organization, Korail Tourism Development, and the Korea Professional Football League announced on July 21 that the '2026 K League Trip Day,' a sports-focused tourism initiative linking professional soccer viewing with local tourism, will officially launch on July 25.◆ Expansion of Sports Tourism Following Successful Pilot ProgramThis initiative was developed in response to positive feedback from a pilot program conducted in May. During that event, over 150 fans from FC Seoul and Incheon United traveled on a special train to Daejeon, visiting local attractions and bakeries, demonstrating the potential for sports-related tourism.Starting in the second half of the year, the program will significantly expand beyond the Seoul metropolitan area to include K League home bases nationwide. It will offer two types of packages: a 'full package' for traveling fans and a 'semi-package' for local home fans, with a maximum of 100 participants per match.The full package for traveling fans departing from areas like the Seoul metropolitan region includes round-trip train tickets on KTX or SRT, transportation connections, match tickets in the away section, free tours of local attractions, and the accompaniment of professional guides. Events for fan participation will also be held on the train, turning travel time into an enjoyable experience.◆ Rich Local Experiences Expected to Boost Regional EconomiesThe inaugural event on July 25 will feature a match between Busan IPark and Suwon Samsung Bluewings, with an itinerary that includes a visit to Daejeon and then to Busan's Geoduk Stadium. Activities will include visits to traditional markets, match attendance, free tours of Haeundae, and rides on beach trains.Subsequent programs will showcase unique experiences tied to specific teams, such as visits to the Gyeongsangbuk-do Arboretum for the Pohang Steelers match and a bunker experience in Jeonju for the Jeonbuk Hyundai match. The offerings will range from day trips to two-day stay packages, aiming to draw soccer fans into local economies.Kang Yu-young, head of the regional tourism development team at the Korea Tourism Organization, stated, “While the number of visitors coming to local areas for sports events is increasing, there has been a lack of related travel products. We will continue to expand support to convert fans' travel demand into stay-type tourism.”Lee Woo-hyun, acting CEO of Korail Tourism Development, emphasized, “We have created a new tourism platform that combines rail travel with the K League, fostering interaction among fans. We aim to revitalize stay-type tourism and invigorate local economies through collaboration with regional soccer teams and businesses.”* This article has been translated by AI. 2026-07-21 14:24:00
  • Financial Authorities Strengthen ETF Discrepancy Rate to 2%, Industry Pushback
    Financial Authorities Strengthen ETF Discrepancy Rate to 2%, Industry Pushback Following the announcement of supplementary measures for single-stock leverage on July 16, the financial authorities are facing criticism from the securities industry regarding the increased responsibility for managing exchange-traded funds (ETFs).According to the financial investment industry on July 21, the core of the improvement plan is the heightened obligation to manage discrepancy rates. In the ETF market, liquidity providers (LPs) from securities firms are responsible for reducing the gap between market prices and net asset values by providing buy and sell quotes. The new measures will tighten the LPs' obligation to manage end-of-day discrepancy rates from the previous 3% to 2%.Industry experts argue that this change may actually lead to more violations of discrepancy rates. The widening of discrepancy rates is influenced by various factors, including liquidity of underlying assets, trading volume, market volatility, order imbalances, and hedging conditions. Therefore, they contend that applying a uniform 2% standard across all products has its limitations.The rebalancing structure of leveraged ETFs also complicates discrepancy rate management. Single-stock leveraged ETFs, along with all leveraged ETFs, require rebalancing to align exposure to underlying assets with target ratios based on end-of-day prices. This is particularly contentious for single-stock leveraged ETFs, where trading demand is concentrated on specific stocks like Samsung Electronics or SK Hynix, leading to greater market volatility.Conversely, products with low liquidity pose additional challenges. Small-cap and thematic ETFs may experience temporary widening of discrepancy rates even when quotes are submitted normally, especially during market shocks. Unforeseen variables, such as geopolitical risks or surges in commodity prices, can lead to concentrated investment demand in specific themes, increasing the likelihood of price distortions. Additionally, with over 1,150 listed products, there are concerns that the sheer number of items to manage has not been adequately considered.The simultaneous quoting period is also a key issue. From 3:20 PM to 3:30 PM, just before the regular market closes, simultaneous quoting occurs to determine end-of-day prices. During this time, LPs are exempt from submitting ETF quotes, and the characteristics of large-scale trades from asset managers and individual investors tend to concentrate, leading to increased market volatility. For instance, on June 8, a large buy order during this period caused the discrepancy rate for the 'ACE SK Hynix Single-Stock Leverage' product to soar to 90.18%.There are structural concerns that the current liquidity provision system is unable to keep pace with the rapid expansion of the ETF market and increasing market volatility. In times of heightened market volatility, existing LP personnel may struggle to adjust prices quickly enough to match market movements, which can lead to wider discrepancy rates.Industry representatives agree that fundamental institutional improvements should take precedence over merely tightening discrepancy rate standards. They advocate for reforms in trading systems to disperse orders concentrated at the end of the day and structural improvements in the simultaneous quoting operation and single-price trading times to better absorb and supply market liquidity.Additionally, the method of calculating the indicative net asset value (iNAV) is identified as an area needing enhancement. Discrepancy rates are defined as the difference between net asset values and market prices. Therefore, the current method of calculating net asset values based on end-of-day prices may not accurately reflect the true value of ETFs during periods of high market volatility or when the pricing of underlying assets is not smooth. There is also a suggestion to consider calculating both upper and lower ranges of appropriate values during trading hours.An industry insider noted, "While strengthening discrepancy rate management may reduce the average discrepancy rate across all ETFs, the actual impact is likely to be minimal. There is also a possibility that this could lead to the departure of LPs feeling burdened by the new requirements."* This article has been translated by AI. 2026-07-21 14:24:00
  • Government Unveils Everyones AI Project to Provide Personal AI Agents
    Government Unveils 'Everyone's AI' Project to Provide Personal AI Agents The Ministry of Science and ICT is advancing its 'Everyone's AI' initiative, aiming to provide every citizen with a personal AI agent by the end of the year.On July 21, the Ministry and the National IT Industry Promotion Agency (NIPA) held a briefing on the 'Everyone's AI' project at the Front One building in Mapo, Seoul. Over 100 representatives from companies including LG Uplus, Saltlux, Rebellion, Eastsoft, and AXZ attended the event. Selected companies will develop general-purpose AI chatbots and public AI agents using 512 B200 GPUs supported by the government.Below is a Q&A from the 'Everyone's AI' briefing.- Will the beta service be available to all citizens from the start?The beta service is set to launch by the end of December, targeting all citizens. However, during the beta phase in September, companies will need to design their operational plans according to the service characteristics. Companies ready to launch can operate from the start for all citizens, while others may gradually expand their user base. There are no restrictions on including public institutions as demand sources or consortium participants, with the main goal being to provide a nationwide B2C service by year-end.- Will domestic AI semiconductors (NPU) be considered in evaluations, and can multiple domestic NPU companies participate in consortia?While the announcement specifies GPU support, domestic AI semiconductors may positively influence qualitative evaluations for ecosystem activation. Detailed criteria will be provided after internal review. Currently, participation in one consortium is the principle, but simultaneous participation in different consortia by the same institution will require further internal review. Additional guidance will be provided considering the possibility of multiple consortia being selected with the same company.- Will the government support the integration of public services like Government 24 and Public MyData?The government is coordinating with relevant departments to facilitate the implementation of public AI agents, including cooperation with Government 24 and Public MyData. If companies encounter issues requiring public institution collaboration during the project, the government plans to assist in discussions with relevant departments and agencies.- Can companies participate by only applying AI models to existing services?Simply replacing AI models or adding features to existing services does not align with the project's intent and is unlikely to score well in evaluations. However, integrating with existing platforms is permitted. The principle is to establish a separate 'Everyone's AI' service, and companies can autonomously propose service formats such as apps or websites. The key is to implement new services that are easily accessible to all citizens.- How will the GPU support be provided?The government will provide the B200 GPUs through cloud service providers (CSPs). Support will be based on a Kubernetes environment, and GPUs must be used within the project's scope. However, using idle GPUs for service development and enhancement will be allowed.- How will the allocation of 128 and 256 GPUs be evaluated?If two companies are selected, each will receive 256 GPUs. If three companies are selected, the allocation will vary based on evaluation rankings, with 256 and 128 GPUs assigned accordingly. Companies applying for 256 GPUs will compete among themselves, while those applying for 128 GPUs will compete separately. If the GPU allocation changes after final selection, the self-funding amount may also be adjusted.- Is it possible to participate without a proprietary AI model?Having a proprietary AI model is not a mandatory requirement. The stipulation of utilizing over 50% domestic AI models refers to meeting the criteria for independent AI foundation models, not necessarily proprietary models. Companies without their own models can use domestic open-source models or models from other domestic companies. Currently, open-source models from participating companies in the independent AI foundation model are also available, and securing usage rights through collaboration with other domestic companies is permitted.- How will the 50% domestic AI model requirement be evaluated?During the evaluation phase, the focus will be on whether the service design and model routing methods are reasonable. In the operational phase, the ratio of domestic model usage will be regularly checked using output tokens and system logs. The method for calculating the usage ratio is currently being finalized.- To what extent can foreign AI models be used?The use of foreign AI models is permitted only for minimal functions that cannot be implemented with domestic models. The portion of foreign model usage will not be eligible for government support, and excessive use beyond the necessary minimum may be reflected in evaluations.- If 2-3 companies are selected, will all services be launched?The evaluation committee will comprehensively review the business plans and select either two or three companies. The final selected companies will aim to provide services with a target launch in December.- How will performance be evaluated?The focus will be on user-perceived performance rather than benchmark figures. An annual evaluation will consider user numbers and service activation levels, and if performance is deemed insufficient, the possibility of changing support targets will be reviewed.- What will be the support for operating costs and revenue models next year?Starting next year, discussions are ongoing with the finance authorities regarding support for not only GPUs but also service operation and enhancement costs. Government support will focus on essential functions such as general-purpose AI chatbots and public AI agents. Companies will have the discretion to decide whether specialized services are free or paid, and various business models to attract users will be permitted.* This article has been translated by AI. 2026-07-21 14:20:00
  • Chinese Restaurant Delegation Visits BBQ Chicken University to Learn K-Chicken Expertise
    Chinese Restaurant Delegation Visits BBQ Chicken University to Learn K-Chicken Expertise A delegation of Chinese restaurant representatives visited BBQ Chicken University to explore the company's educational system and global operations.Genesis BBQ announced that over 40 members of the Chinese restaurant entrepreneur business school program visited the Chicken University in Icheon, Gyeonggi Province, on July 20.The delegation received an overview of BBQ's global business status and country-specific operational cases, followed by a tour of key educational facilities, including the theoretical training room and cooking practice area. They observed training courses for prospective franchisees and exchanged views on ways to enhance collaboration between the franchise industries in Korea and China.Chicken University is a specialized training institution where BBQ educates prospective franchisees and employees on store operations, cooking, and customer service. It has established a training and operational system to ensure consistent quality and service across domestic and international locations.BBQ currently operates over 800 overseas stores in 57 countries. China is the first market where BBQ began its overseas operations in 2003, and the company has recently been expanding its business in key consumer cities in southern and central inland regions.In January, BBQ opened the 'BBQ Village Shenzhen Huider Wanxianghui' in Bao'an District, Shenzhen, Guangdong Province, and in March, it launched the 'BBQ Village Weluwanxiangcheng' in the Welu Shopping Mall in Changsha, Hunan Province. Both locations offer Korean dishes, including Golden Olive Chicken, seasoned chicken, budae jjigae, samgyetang, and tteokbokki.A BBQ representative stated, "Through this visit, we introduced our educational system at Chicken University and global operational cases. We plan to continue various exchanges with the Chinese restaurant industry in the future."* This article has been translated by AI. 2026-07-21 14:16:00
  • Yeon Sang-hos upcoming thriller invited to film fest in Toronto this fall
    Yeon Sang-ho's upcoming thriller invited to film fest in Toronto this fall SEOUL, July 21 (AJP) - Director Yeon Sang-ho's upcoming mystery thriller "Paradise Lost" has been invited to this year's Toronto International Film Festival (TIFF), the film's distributor CJ ENM said on Tuesday. The 101-minute film will have its world premiere in the "Special Presentations" section of the 51st edition of TIFF, which will run from Sept. 10-20. It will mark Yeon's second consecutive appearance at TIFF after his mystery thriller "The Ugly" was screened at the prestigious festival last year. "Paradise Lost" revolves around a woman who uses an artificial intelligence (AI) program to recreate memories of her missing son, only to have her life thrown into turmoil when he suddenly returns. Yeon described the film as one of his "darkest" works, exploring a mother's struggle between the AI-created version of her son and the real son who returns after nine years. TIFF's Special Presentations section showcases acclaimed contemporary films from around the world and has previously featured several South Korean films such as "Mother" and "Parasite" by Bong Joon-ho, as well as "The Handmaiden" and "Decision to Leave" by Park Chan-wook. "Paradise Lost" is scheduled to hit theaters in South Korea sometime in October. 2026-07-21 14:14:04
  • UBS: Momentum Stock Sell-Off Nearing End, Time to Reinvest in AI and Semiconductors
    UBS: Momentum Stock Sell-Off Nearing End, Time to Reinvest in AI and Semiconductors The recent sell-off in momentum stocks, which have seen strong price increases, is nearing its end, prompting analysts to suggest it may be time to reinvest in artificial intelligence (AI) and semiconductor stocks.On July 20, Bloomberg reported that UBS's trading desk indicated in a recent client report that the momentum stock sell-off is likely to conclude by the end of this month, recommending a phased approach to buying AI and semiconductor stocks.UBS cited the significant reduction of speculative positions as a reason for potential rebounds. According to UBS Prime Brokerage data, hedge funds have decreased their buying positions in momentum and semiconductor stocks by about 5% of total position value. This reduction is among the largest on record, with net positions in semiconductors and software stocks dropping to levels seen in April.Michael Romano, head of hedge fund equity derivatives at UBS, noted that the fundamentals for the AI sector are improving, suggesting that recent price declines could present buying opportunities. However, he advised against increasing positions all at once, recommending a gradual approach instead.Romano stated, "The reduction of risk in momentum stocks was a well-considered decision. Now, gradually increasing positions is a prudent approach."UBS's momentum stock basket includes companies such as SanDisk, Broadcom, Oracle, KKR, Datadog, and Microsoft. A separately tracked software stock basket has risen about 20% since the end of June, showing sensitivity to changes in investor positions.Romano analyzed that much of the recent buying in cyclical stocks, such as banks and industrials, has stemmed from short covering rather than new investments. He warned that if investors shift back to AI-related stocks, the cyclical stocks that have recently led the market may face corrections.He anticipates that even if the momentum stock sell-off is not yet over, a bottom will likely be confirmed by the end of this month. UBS's momentum indicator fell 3.5% during trading on July 17 but rebounded by 2.5% within two hours. Romano projected, "If the trend shifts, liquidity could flood in, causing stock prices to rebound quickly."Meanwhile, on July 21, Asian semiconductor stocks showed a broad rebound. The Bloomberg Asia Semiconductor Index rose over 3%, breaking a three-day losing streak. The stock markets in South Korea and Taiwan, which have a high concentration of technology stocks, also surged by about 4% as buying interest returned to AI-related stocks that had previously seen significant declines.* This article has been translated by AI. 2026-07-21 14:12:00
  • Seragem Celebrates 20 Years of Support for Compassion with Award Ceremony
    Seragem Celebrates 20 Years of Support for Compassion with Award Ceremony Seragem announced that it held an award ceremony on July 21 to commemorate 20 years of support for Compassion, an international child sponsorship organization.Founded in 1952 to assist orphans from the Korean War, Compassion has helped over 2.4 million children worldwide grow into self-sufficient adults. The organization offers holistic care programs tailored to various age groups, including regular health check-ups, educational opportunities to enhance skills, and social-emotional support.Since 2006, Seragem has provided financial support to Korea Compassion, helping children in poverty across Asia, South America, and Africa grow up healthy. In May, Seragem sponsored healthcare products for the '2026 Miracle Walk,' a fundraising event combining donations and walking organized by Korea Compassion. In September, Seragem will also support healthcare devices for the Blue Wave Music Festival, hosted by Korea Compassion, to inspire hope among children worldwide and reflect on the meaning of sponsorship.Earlier, on July 6, Seragem received a commemorative plaque from the Green Umbrella Child Fund for its 20 years of sponsorship. During this event, Seragem donated its spinal care medical device, the Master V7.A representative from Seragem stated, "It is one of our roles and responsibilities to help children grow as healthy members of society by receiving education in better environments. We will continue to be a strong supporter so that children suffering from poverty and disasters around the world can grow with hope and love."* This article has been translated by AI. 2026-07-21 14:12:00
  • Gwanggyo Apartment Prices Exceed 2 Billion Won Amid Controversy
    Gwanggyo Apartment Prices Exceed 2 Billion Won Amid Controversy The price of national standard apartments in Gwanggyo New Town, Suwon, has surpassed 2 billion won, sparking discussions online that reference President Lee Jae-myung's recent apartment transaction in Bundang.On July 20, a post titled "A 15-year-old apartment completed in 2012, national standard 33 pyeong, has surpassed 2 billion won" appeared on an online community.The author of the post, identified as A, wrote, "A 15-year-old apartment completed in 2012, national standard (33 pyeong) has surpassed 2 billion won. The speed of the housing price increase is truly frightening."In response, one user commented, "If only someone would lend me 1.77 billion won. If I secure a mortgage and use the rest as a tenant's deposit, I could buy it for zero won," receiving 767 likes.This comment is interpreted as a satire of President Lee's recent sale of his Bundang apartment, where he set a mortgage for the buyer at a maximum amount of 1.77 billion won.Other comments included, "This is the area that has been most criticized for being overvalued among new towns, and it’s finally being proven," and "I heard the net amount for the recent lottery first prize is about 500 million won, so you’d need to win four times to even consider buying a house in the metropolitan area."Additionally, President Lee's statement on the same day that "illegal and circumvention-based real estate windfalls are a major cause of undermining national unity" further fueled the controversy.Netizens reacted critically, saying, "It feels like mocking the public to say this after the mortgage controversy yesterday," and "Is there no interest on the 1.77 billion won?" Others questioned, "Is the Democratic mortgage different?" and noted, "His credibility is diminished when he makes such statements after being involved in a circumvention controversy while receiving interest on a 1.7 billion mortgage."Previously, the presidential office explained that the transaction was based on the buyer's circumstances, stating, "The sale was made at a price lower than the market value at 2.9 billion won, and although there was no obligation to sell as a one-home owner, it was done to demonstrate a commitment to real estate normalization policy." However, the related controversy continues to unfold in online communities, leading to ongoing debates about the consistency of the president's real estate policies and actual transaction methods.* This article has been translated by AI. 2026-07-21 14:08:00