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  • Yoon Hee-keun Appears Again Before Special Prosecutors Over Unification Church Investigation
    Yoon Hee-keun Appears Again Before Special Prosecutors Over Unification Church Investigation Yoon Hee-keun, the former Commissioner of the National Police Agency, appeared again before the second special prosecutor team investigating allegations of covering up a gambling case linked to the Unification Church. Yoon described the allegations as "an absurd frame."The special prosecutors began questioning Yoon, who is under investigation for abuse of power, at 10 a.m. on July 21.Arriving at the special prosecutor's office in Gwacheon at 9:45 a.m., Yoon stated, "I find it difficult to agree with the notion of denying the allegations," adding that the matter itself is "an entirely nonexistent absurd frame."Regarding the gambling allegations involving the Unification Church, he claimed, "I was not aware of it, nor have I received any reports about it," asserting that the police do not leak criminal secrets to suspects or cover up investigations. He called the situation a humiliating matter that defames not only himself but also the police leadership and his colleagues.Yoon is accused of failing to properly investigate reports that Unification Church leaders, including Chairman Han Hak-ja, engaged in approximately 600 billion won worth of gambling at casinos in Las Vegas, USA, between 2008 and 2011. In the past, the Chuncheon Police received tips from insiders of the Unification Church between May and July 2022, indicating that Chairman Han frequently engaged in overseas gambling using cash from church members. A report was created and registered in the internal system.Although the report was rated as a top-tier "special report," it is said that the National Police Agency did not formally assign the case due to a lack of additional evidence.The previous special prosecutor team, led by Kim Geon-hee, found that former People Power Party lawmaker Kwon Seong-dong, a close associate of former President Yoon Suk-yeol, received police investigation tips and passed them to the Unification Church. Kwon and Chairman Han were indicted, but the investigation into the internal leak and higher-ups' involvement was not completed.The special prosecutors are investigating whether Yoon, who was appointed as the first Commissioner of the National Police Agency after Yoon Suk-yeol's election, directed or was involved in the cover-up of the investigation, having summoned him for questioning on June 23.* This article has been translated by AI. 2026-07-21 12:44:00
  • Ruling and Opposition Parties Agree on Special Prosecutor Bill for Election Issues
    Ruling and Opposition Parties Agree on Special Prosecutor Bill for Election Issues On July 21, the ruling and opposition parties agreed to process a special prosecutor bill related to the ballot shortage during the June 3 local elections within the July extraordinary session. The special prosecutor will be recommended by a citizen recommendation committee, with each negotiating group nominating three members.Democratic Party floor leader Han Byung-do and People Power Party floor leader Jeong Jeom-sik announced the agreement at the National Assembly. The agreement will be finalized after approval from each party's general assembly.Under this agreement, both parties will introduce a bill titled 'Law on the Appointment of a Special Prosecutor to Investigate the Ballot Shortage and Other Election Management Issues' with the goal of processing it during the July extraordinary session.To facilitate this, the Democratic Party and the People Power Party will each recommend three members to form the citizen recommendation committee. This committee will receive recommendations for six special prosecutor candidates, three from the Korean Bar Association and three from the Council of Law Schools, and will jointly recommend two candidates to the president. The scope, scale, and duration of the special prosecutor's investigation will be determined later through negotiations between the parties.Following the agreement, floor leader Jeong stated to reporters, "I argued that we need a special prosecutor who can ensure objectivity and fairness, and we have achieved that in today's agreement."With the parties agreeing to recommend a special prosecutor, there is hope for progress in the stalled negotiations over the organization of the National Assembly. Floor leader Jeong noted, "To process the special prosecutor bill in the July extraordinary session, we need to begin organizing the assembly," adding that he would listen to the opinions of lawmakers and seek approval in the general assembly.* This article has been translated by AI. 2026-07-21 12:40:00
  • National Tax Service to Hire 4,000 Temporary Workers to Strengthen Debt Collection and Create Jobs
    National Tax Service to Hire 4,000 Temporary Workers to Strengthen Debt Collection and Create Jobs The National Tax Service (NTS) is set to hire 4,000 temporary workers for its debt management team to closely examine the living conditions and economic situations of tax delinquents. This initiative aims to establish a more effective collection system based on the types of delinquents. On July 21, the NTS announced its plan to recruit these temporary workers, following a previous announcement in May for 3,000 positions, which attracted an average competition rate of 4.6 to 1. The temporary workers will be responsible for notifying delinquents of their tax status and verifying their living conditions, but they will not engage in collection activities such as seizures or searches. Their main tasks will include phone verification and in-person visits. Phone verifiers will inform delinquents about their tax obligations and payment methods, and if a delinquent expresses willingness to pay in installments, they will explain the payment schedule. If they identify delinquents who are avoiding payment, they will refer them to officials for follow-up visits. In cases where delinquents are unable to pay due to financial difficulties, they will schedule visits to assess their actual living conditions. In-person verifiers will visit the residences and businesses of delinquents to explain their tax obligations and payment options. They will also provide information on support programs such as installment payments and welfare connections to alleviate the burden on taxpayers. Additionally, they will gather essential data on the actual residency and business operations of delinquents to aid in debt management. Applicants must be South Korean citizens aged 18 or older, with priority given to vulnerable groups such as veterans, individuals with disabilities, and low-income recipients. The application period will close on July 29 at 6 p.m., and submissions will be accepted online only. An NTS official stated, "By verifying the status of 4.24 million tax delinquents, we aim to assess their payment capabilities and the reasons for their delinquencies to expedite the collection of recoverable debts. We also plan to provide large-scale public job opportunities nationwide to support the self-sufficiency of vulnerable job seekers."* This article has been translated by AI. 2026-07-21 12:08:00
  • Self-Consumption Solar Power to Receive RE100 Certification Starting in August
    Self-Consumption Solar Power to Receive RE100 Certification Starting in August Residential and industrial solar power systems installed on rooftops will soon be able to obtain and sell renewable energy certificates. This change allows self-consumption solar power, which previously only helped reduce electricity bills, to generate new revenue through certificate trading.The Ministry of Climate, Energy and Environment announced on July 21 that it will launch a pilot program for issuing and trading Renewable Energy Generation Certificates (REGO) for self-consumption renewable energy systems starting in August.REGO certificates verify that electricity produced by solar and other self-consumption generation systems is 100% renewable. The government plans to issue these certificates after verifying the generation amount and production history through the Renewable Energy Monitoring System (REMS), allowing them to be sold on the RE100 certification trading platform to participating companies.Until now, self-consumption solar power was primarily used to reduce electricity costs, but the new system will enable additional revenue through certificate trading.The government expects that the introduction of this system will enhance the economic viability of self-consumption solar power, leading to increased installation and providing companies with a new means to meet their renewable energy usage requirements.The pilot program will run from August to November. It will select corporations and individual businesses through a public recruitment process conducted by the Korea Energy Agency, with local governments participating as intermediaries to recruit privately owned generation facilities. The recruitment process began on July 20 and will continue until August 4.Based on the results of the pilot program, the ministry plans to refine the system and fully implement the certificate issuance and trading program in 2027.The Ministry of Climate, the Gyeonggi Province, and the Korea Energy Agency will sign a memorandum of understanding on July 22 at the Korea Energy Agency's Seoul headquarters to promote the pilot program. They will initially support the issuance and trading of certificates for 370 residential solar power systems, each with a capacity of 3 kW, provided by Gyeonggi Province.Shim Jin-soo, Director of Renewable Energy Policy at the Ministry of Climate, stated, "The introduction of the self-consumption renewable energy certificate system will expand the deployment of related facilities and support companies in achieving their RE100 goals in various ways. We will gather diverse opinions during the pilot program to establish an effective system."* This article has been translated by AI. 2026-07-21 12:04:00
  • Government Accelerates Establishment of Power Regulatory Agency
    Government Accelerates Establishment of Power Regulatory Agency The government is moving quickly to establish a new 'Power Regulatory Agency' that will oversee the electricity market and manage the power system. This initiative aims to overhaul power governance in response to the increasing demand for electricity in the era of 'electric nations,' driven by sectors such as semiconductors and artificial intelligence (AI) data centers.The Ministry of Climate, Energy and Environment announced on July 22 that it will co-host a forum on 'Innovating Power Governance' with lawmakers Park Ji-hye and Seo Wang-jin at the National Assembly's member's office building.This forum is intended to build consensus among the National Assembly, government, and experts on the necessity of establishing the Power Regulatory Agency ahead of discussions on amending the Electricity Business Act in the second half of the year. It follows ongoing discussions since April regarding the reform of the power regulatory system.The government believes that innovation in the power supply system is essential to support the three mega-projects announced in June, which include semiconductors, physical AI, and AI data centers.To address the increasing use of renewable energy sources like solar and wind, as well as the rise of AI data centers, the government has determined that it is necessary to proactively revise the technical standards for power systems, known as 'grid codes,' and establish a system to oversee them. The existing regulatory framework is deemed insufficient due to the growing number of private operators and new transaction forms such as Power Purchase Agreements (PPAs), Virtual Power Plants (VPPs), and distributed energy special zones.Additionally, while the demand for utilizing power data is increasing with the spread of AI, the differing data standards and disclosure methods among institutions make integrated use challenging, and there is a lack of a comprehensive management system.Once established, the Power Regulatory Agency is expected to serve as an independent regulatory body responsible for managing technical standards (grid codes), overseeing the electricity market, and managing power data. This will create a four-tier power governance structure that includes policy formulation by the Ministry of Climate, Energy and Environment, deliberation and decision-making by the Electricity Commission, investigations and oversight by the Power Regulatory Agency, and execution by Korea Electric Power Corporation and the electricity trading market.During the forum, experts will present on topics such as improving grid codes, the electricity market oversight system, and reforming the power information disclosure system. The government plans to incorporate the feedback from the forum into its efforts to amend the Electricity Business Act and support legislative discussions for the establishment of the Power Regulatory Agency.Kim Chang-seop, chairman of the Electricity Commission, stated, 'While the number of market participants has surged, the rules are outdated, and the oversight system is unable to keep pace with market changes. There is a need for an independent body that can proactively improve technical standards, monitor the market fairly, and manage power information transparently.'* This article has been translated by AI. 2026-07-21 12:04:00
  • Government Unveils Revised National Environmental Plan for 2040
    Government Unveils Revised National Environmental Plan for 2040 The government is preparing a long-term blueprint for national environmental policy that reflects the changing policy landscape, including the climate crisis and the transition to a circular economy.The Ministry of Climate, Energy and Environment announced on July 21 that it will hold a public hearing on the 'Revised National Environmental Comprehensive Plan (2026-2040)' on July 22 at the Korea Press Center in Jung-gu, Seoul.This public hearing is an official forum for gathering public opinions as part of the national environmental plan formulation process, and anyone can attend. Academics, civil society representatives, and experts from various fields will participate in discussions and Q&A sessions regarding the revised plan.The National Environmental Comprehensive Plan is the highest legal framework for environmental policy established every 20 years under the Environmental Policy Basic Act. The government reviews the plan's validity every five years to respond to changes in environmental and social conditions and prepares a revised plan.The current revision aims to reflect the accelerated changes in policy environments related to carbon neutrality, the transition to a circular economy, and responses to the climate crisis since the establishment of the fifth National Environmental Comprehensive Plan.The revised plan outlines three main policy goals: preparing for a climate-resilient future, fostering a green economy where the environment and economy coexist, and achieving an inclusive society through environmental justice. To support these goals, it includes seven core strategies: carbon neutrality, integrated water circulation, circular economy, living environment, natural capital, green economy, and international cooperation.The government plans to use this revised plan as a fundamental framework to guide environmental policy for the next 15 years. It is expected to serve as a long-term roadmap that considers carbon neutrality, industrial competitiveness, ecosystem conservation, and the quality of life for citizens.The Ministry of Climate will incorporate the feedback gathered during the public hearing into the final revised plan, which will then undergo review and consultation by the Central Environmental Policy Committee and the Cabinet before being finalized later this year.Ahn Se-chang, head of the Planning and Coordination Office at the Ministry of Climate, stated, "The National Environmental Comprehensive Plan is a crucial strategy for designing a sustainable South Korea in the era of the 'triple environmental crisis' of climate change, biodiversity loss, and pollution. We will ensure that the opinions of the public and experts are fully reflected to create a national environmental policy blueprint that considers future generations."* This article has been translated by AI. 2026-07-21 12:04:00
  • Government and Businesses Collaborate to Improve Air Quality in Childcare and Elderly Facilities
    Government and Businesses Collaborate to Improve Air Quality in Childcare and Elderly Facilities The government and businesses are joining forces to improve indoor air quality in facilities used by vulnerable populations, such as childcare centers and nursing homes. Companies will provide ventilation systems and air purifiers at no cost, expanding support for these facilities.The Ministry of Climate, Energy and Environment announced on July 22 that it will sign a memorandum of understanding at Myungin Childcare Center in Jungnang-gu, Seoul, with 18 sponsoring companies, including Jeongmin, Himpel, and Daesung Giyun, as well as the Green Umbrella Children's Foundation, to enhance indoor air quality in childcare centers and nursing homes.Under this agreement, the sponsoring companies will donate indoor air quality management equipment, including ventilation systems and air purifiers. The donated items will be installed in childcare centers and nursing homes through the ministry's 'Indoor Air Quality Improvement Support Project for Vulnerable Facilities.'The Korea Environment Corporation will measure indoor air quality in 700 childcare centers and nursing homes, and the Indoor Environment Management Center will provide tailored environmental improvement support using the donated items for facilities that require enhancements.The government plans to expand the support targets by linking corporate donations with existing national funding, thereby increasing the effectiveness of the initiative. Starting this year, the Green Umbrella Children's Foundation will issue donation receipts to sponsoring companies to encourage private sector participation.The ministry aims to continue expanding public-private cooperation to ensure that infants, young children, and the elderly, who are particularly vulnerable to indoor air quality issues, can live in safer and more comfortable environments.Jo Hyun-soo, Director of the Environmental Health Bureau at the Ministry of Climate, expressed gratitude to the sponsoring companies for their commitment to social responsibility despite challenging circumstances. He stated, "We will continuously improve indoor air quality in related facilities so that vulnerable populations sensitive to indoor air quality can live in safer and more comfortable environments."* This article has been translated by AI. 2026-07-21 12:04:00
  • Justice Innovation Party: Dont Treat Us as a Rubber Stamp
    Justice Innovation Party: Don't Treat Us as a Rubber Stamp The Justice Innovation Party stated on the 21st, "The Democratic Party should not regard us as a rubber stamp that can be mobilized at will." This remark comes as the Democratic Party announced plans for a termination vote against the filibuster being conducted by the People Power Party in response to the extension of the Comprehensive Special Investigation Act.Kim Jun-hyung, acting leader of the Justice Innovation Party and floor leader, held a party meeting at the National Assembly and said, "While demanding our votes to end the filibuster, the Democratic Party's hesitation regarding the abolition of supplementary investigative powers undermines mutual trust."He emphasized, "The reform coalition is not a one-way street. The Justice Innovation Party, as the icebreaker of progressive reform, will steadfastly pursue the fundamental principle of prosecutorial reform, which is our historical mission and promise to the people."Kim also expressed concern over the recent internal controversies within the Democratic Party regarding supplementary investigative powers, stating, "We must complete prosecutorial reform by July."In response, Han Byeong-do, acting leader of the Democratic Party and floor leader, acknowledged the importance of amending the Criminal Procedure Act and prosecutorial reform. He urged understanding, saying, "As significant changes occur in the criminal justice system, please see this as a final effort to create a criminal justice system for the people." Kim and Han are scheduled to meet again later in the afternoon to discuss the abolition of supplementary investigative powers and cooperation on the filibuster.Meanwhile, the Justice Innovation Party has insisted that the amendment to the Criminal Procedure Act should be processed before the Constitution Day, but internal disagreements, including those within the Democratic Party, have led to delays. The Legislation and Judiciary Committee is currently discussing joint proposals from Democratic Party member Kim Yong-min and Justice Innovation Party member Park Eun-jeong, as well as a proposal from Justice Innovation Party member Cha Kyu-geun and other related proposals from the Democratic Party.Notably, some members of the Democratic Party, including Hong Gi-won, argue that supplementary investigative powers should be retained for exceptional cases such as sexual violence and abuse of the elderly and children. The Democratic Party plans to hold a policy meeting with experts in the afternoon to seek solutions. 2026-07-21 12:00:00
  • KOSPI Rebounds to 6,680 After Falling Below 6,500, Driven by Semiconductor Stocks
    KOSPI Rebounds to 6,680 After Falling Below 6,500, Driven by Semiconductor Stocks The KOSPI, which briefly fell below 6,500 in early trading, surged over 2% to reach 6,680. The rebound was driven by strong performances from major semiconductor stocks, including Samsung Electronics and SK Hynix, as both foreign and institutional investors engaged in net buying.As of 11:32 a.m. on July 21, the KOSPI was up 164.88 points (2.53%) at 6,681.15 compared to the previous trading day.Earlier in the day, the index dropped to 6,450 amid geopolitical uncertainties between the U.S. and Iran, hitting a low of 6,453.01 at 9:11 a.m. However, it quickly reversed course, recovering both the 6,500 and 6,600 levels.In terms of market dynamics, institutions and foreign investors led the index's rise, with institutions net buying 624.7 billion won and foreign investors net buying 98.6 billion won. In contrast, individual investors were net sellers, offloading 727.4 billion won.Among the top market capitalization stocks, semiconductor shares showed strong gains. Samsung Electronics traded at 256,500 won, up 5.12% from the previous day, while SK Hynix rose 3.29% to 1,822,000 won.Hanwha Aerospace increased by 2.86% to 900,000 won, and HD Hyundai Electric was up 1.40% at 762,500 won. Samsung Electro-Mechanics remained flat at 1,275,000 won.In contrast, the KOSDAQ continued to show weakness, diverging from the KOSPI's upward trend. The KOSDAQ index fell 12.83 points (1.71%) to 736.81. In this market, individual investors were net buyers of 138 billion won, while foreign and institutional investors sold off 91 billion won and 47 billion won, respectively.The top stocks in the KOSDAQ showed mixed results. Alteogen rose 0.56% to 271,000 won, and Rainbow Robotics increased by 2.53% to 384,500 won. However, Ecopro fell 1.22% to 72,600 won, and Jusung Engineering dropped 2.03% to 164,500 won. Ecopro BM remained unchanged at 104,100 won.The domestic stock market initially weakened due to investor sentiment being dampened by uncertainties surrounding military conflicts between the U.S. and Iran. However, the influx of buying from foreign and institutional investors, along with a sharp rebound in semiconductor stocks that had recently seen significant declines, quickly shifted the market's mood.Analysts suggest that the recent excessive adjustments in the domestic stock market compared to major global markets may have contributed to the volatility. Last week, the KOSPI fell 8.77%, while the Philadelphia Semiconductor Index dropped 9.97%, indicating that the semiconductor sector's struggles impacted the domestic market's decline.Global investment banks have noted that the KOSPI's valuation has reached historically undervalued levels. The KOSPI's 12-month forward price-to-earnings ratio (PER) is below 6, while the semiconductor sector's PER has dropped to around 4.Seo Sang-young, a researcher at Mirae Asset Securities, stated, "The recent sharp decline in the KOSPI reflects an excessive expansion of losses due to the unwinding of global momentum and concerns over the semiconductor industry. Global investment banks are also focusing on the KOSPI's extreme undervaluation and solid fundamentals."He added, "While the reduction in credit margin balances has eased overheating concerns, the increase in customer deposit balances is stabilizing market conditions. The key variable for the market going forward will be whether foreign investors will significantly shift their buying patterns."* This article has been translated by AI. 2026-07-21 11:44:00
  • NH Nonghyup Financial Expands Support for Social Enterprises and Rural Students
    NH Nonghyup Financial Expands Support for Social Enterprises and Rural Students NH Nonghyup Financial has launched a social contribution initiative aimed at expanding market access for social enterprises while supporting children in rural areas. On July 20, the organization delivered 500 sets of handmade cookies to elementary school students in the rural region of Yeongcheon, North Gyeongsang Province, it announced on July 21. This initiative is part of the 'Nongshim Cheonsim Movement,' a nationwide campaign by Nonghyup to promote the public value of agriculture and rural areas, fostering revitalization through community collaboration. The event was attended by Im Do-gon, head of the Growth Strategy Division at NH Nonghyup Financial, along with the head of NH Nonghyup Bank's Gyeongbuk branch, the head of the Yeongcheon branch, and representatives from the Yeongcheon Education Support Office and Yeongcheon YMCA. The cookies provided by Nonghyup Financial were produced by a social enterprise that employs workers with developmental disabilities. This effort not only supports job creation for people with disabilities but also aims to enhance welfare in rural areas, according to the organization. Im Do-gon stated, "We will serve as a strong support system so that rural children can grow with dreams and hopes. We will also expand cooperation among our affiliates to support rural areas facing challenges due to population decline and low birth rates." 2026-07-21 11:40:00