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  • 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
  • Homeplus earns final three-month chance to avoid liquidation
    Homeplus earns final three-month chance to avoid liquidation SEOUL, July 21 (AJP) -Homeplus, South Korea's bankrupt supermarket chain, gained a three-month reprieve in what could be its final chance to stay afloat after a Seoul bankruptcy court on Tuesday overturned its earlier decision to terminate the retailer's rehabilitation process. The Seoul Bankruptcy Court canceled its July 3 order ending Homeplus' court-led rehabilitation and extended the deadline for creditors to approve a restructuring plan until Sept. 4. The decision came after Homeplus secured a 200 billion won ($134 million) debtor-in-possession (DIP) financing package led by Meritz Financial Group, allowing the retailer to meet the minimum liquidity requirement the court had previously said was necessary to keep the rehabilitation process alive. Earlier this month, the court terminated Homeplus' rehabilitation after ruling that the company had failed to secure the minimum 200 billion won in operating funds required to continue the proceedings. Homeplus immediately appealed after arranging the emergency financing, which was approved by Meritz Financial Group shortly before the July 20 deadline. The rescue package was made possible after MBK Partners Chairman Kim Byung-ju agreed to personally guarantee the entire loan extended by Meritz's insurance, securities and capital units, removing a key obstacle to the financing. The extension gives Homeplus until Sept. 4 to win creditor approval for a rehabilitation plan that will determine whether South Korea's once second-largest hypermarket operator can survive or ultimately be liquidated. The retailer remains in a precarious position despite the court's decision. Earlier this month, Homeplus shut all 67 of its remaining hypermarkets after running out of cash to pay suppliers, electricity bills and other operating expenses, leaving about 12,000 employees, hundreds of suppliers and thousands of shopping mall tenants facing an uncertain future. The nationwide shutdown marked the collapse of a retailer that once challenged E-mart for leadership of South Korea's discount store market and underscored the mounting pressures facing traditional brick-and-mortar retailers from e-commerce competition, heavy debt burdens and slowing consumer spending. Although independent tenants inside Homeplus shopping malls have been allowed to continue operating, normal retail operations remain suspended while the company pursues its restructuring. The latest court ruling also eases immediate pressure on lawmakers, who had planned to summon executives from MBK Partners and Meritz Financial Group to a parliamentary hearing later this month over the retailer's collapse. Whether the hearing proceeds is now expected to depend on the progress of the rehabilitation process. Homeplus' fate will now hinge on whether it can secure creditor backing for its restructuring plan before the Sept. 4 deadline. Failure to do so would again raise the prospect of liquidation, ending one of South Korea's largest retail chains after more than two decades. 2026-07-21 11:38:01
  • Intensifying Democratic Party Convention: Jeong Cheong-rae Vows to Defend Against Attacks
    Intensifying Democratic Party Convention: Jeong Cheong-rae Vows to Defend Against Attacks The Democratic Party's convention is heating up as former Prime Minister Kim Min-seok and lawmaker Song Young-gil continue to attack former leader Jeong Cheong-rae, who responded by stating, "I will defend myself."During a meeting with party leader candidates at the Seoul City Council on July 21, Kim said, "I criticized anti-divisionism yesterday. To talk about anti-divisionism is to be anti-divisionist; who would see me as anti-division and a divider?"Jeong's response came after Kim's recent comments on anti-divisionism, which Jeong addressed on Facebook, stating, "Those who mention anti-division are the ones who are divisive."Song also emphasized, "The most important thing is the success of the Lee Jae-myung government and the restoration of power," criticizing Jeong's remarks about the government, saying, "We should not say, 'Power is short, but the people are eternal.' How precious is this government right now?"In response, Jeong declared, "I said I would not engage in negativity, but I will defend myself." He referenced past criticisms from Kim during the local elections four years ago, stating, "Four years ago, he attacked President Lee, and now he attacks me; this seems to be a habit of his."Additionally, former Gangjin County Council Chair Kim Bo-mi pushed back against Song's reprimands, saying, "Instead of scolding me, you should reflect on the lack of proper registration preparation." She added, "It’s absurd that someone who has been a party leader was unaware. This is why young people call the Democratic Party a '686 old-fashioned party.'"This exchange follows a decision by the party's committee to exceptionally recognize Song's candidacy, which Kim publicly criticized as unfair. Previously, Kim had pointed out that exceptions seemed to apply only to established figures like Song.Meanwhile, Ko Min-jeong expressed her desire for change within the Democratic Party through this convention, stating, "Someone must be able to speak of change." She emphasized, "We need to move beyond tokenism for youth and show that young people and the Democratic Party can coexist."The Democratic Party will begin preliminary elections today to narrow down the candidates for party leader to three.* This article has been translated by AI. 2026-07-21 11:36:00
  • Nonghyup Distribution Launches Regular Naver Shopping Live to Expand Online Sales of Domestic Agricultural Products
    Nonghyup Distribution Launches Regular Naver Shopping Live to Expand Online Sales of Domestic Agricultural Products Nonghyup Distribution is set to actively operate live commerce through Naver Shopping Live. This initiative aims to expand online customer engagement and support the sales channels for domestic agricultural and livestock products.On July 21, Nonghyup Distribution announced that it will conduct regular broadcasts once a week by linking Naver Smart Store with Shopping Live. The broadcasts will not only focus on selling products but will also feature content that introduces the characteristics of agricultural products, stories from production areas, and methods for storage and consumption.The broadcasts will showcase key products from Hanaro Mart, including seasonal fruits and vegetables, Korean beef, pork, seafood, and holiday gift sets. Customers will have the opportunity to ask questions about the products through real-time chat and can benefit from limited-time discounts, coupons, and event promotions.Nonghyup Distribution aims to enable consumers to purchase domestic agricultural products without the constraints of time and location while providing stable sales channels for producers. The company plans to enhance the product offerings and user convenience on Naver Smart Store and expand seasonal agricultural product exhibitions and brand showcases.A representative from Nonghyup Distribution stated, “Live commerce is a channel that allows us to communicate with customers in real time and vividly convey the value of our agricultural products. We will strengthen our online distribution competitiveness to enhance customer convenience and contribute to expanding sales opportunities for farmers.”* This article has been translated by AI. 2026-07-21 11:36:00
  • KT Estate Launches Remarkville Jongno to Celebrate 10th Anniversary of Remarkville
    KT Estate Launches 'Remarkville Jongno' to Celebrate 10th Anniversary of Remarkville KT Estate has unveiled 'Remarkville Jongno,' its 10th project, to mark the 10th anniversary of its corporate rental housing brand, Remarkville. On July 21, KT Estate announced the opening of 'Remarkville Jongno,' located in the Sungin-dong area of Jongno-gu, Seoul. Remarkville, which began with 'Remarkville Dongdaemun' in 2016, has now reached a significant milestone with this 10th project. Remarkville Jongno consists of 505 urban living units and officetels located at 200-16 Sungin-dong, Jongno-gu, Seoul. The construction was completed in June, and residents will begin moving in on August 1. The project was developed through a rental housing REIT managed by KT Investment Management, with KT Estate overseeing development and KT Living responsible for operations and management. The complex offers excellent transportation access, with proximity to Lines 1, 2, and 6, as well as the Uiwang-Sinseol Line. Residents can easily walk to Dongmyo Station on Lines 1 and 6 and Sinseoldong Station on Lines 1, 2, and Uiwang-Sinseol Line. The location also provides convenient access to major business districts such as City Hall, Gwanghwamun, Jongno, and Seongsu, along with nearby amenities like Cheonggyecheon Stream and various shopping, cultural, and medical facilities. The residential units include one-room, 1.5-room, and two-room options, all equipped with built-in refrigerators, washing machines, air conditioning systems, and electric cooktops. Community facilities include a fitness zone, work lounge, laundry room, concierge service, and rooftop garden, with some units featuring private terraces. Large windows and glass railings enhance the sense of openness, while a facial recognition entry system and 24-hour security ensure safety. All units allow for resident registration, providing convenience for actual residents. KT Living currently manages approximately 10,000 rental housing units, including those under the Remarkville brand. The company emphasizes that its corporate-operated rental housing offers relatively stable living services amid growing concerns over rental fraud and deposit return issues in the rental market. Kim Young-jin, CEO of KT Estate, stated, "'Remarkville Jongno' is our 10th project, showcasing the product planning and operational expertise we have accumulated over the past decade. With its central location in Seoul, excellent transportation network, fully equipped living environment, and community facilities, we expect it to set a new standard for housing for one- to two-person households." Remarkville has expanded from its initial project in Dongdaemun to include locations in Yeongdeungpo, Gwanak, Gunja, Busan Daeyeon, Busan Station, and East Pole, now operating a total of 10 projects, including Jongno. Meanwhile, KT Estate reported solid performance last year due to favorable sales, but total borrowings have exceeded 1 trillion won due to the acquisition of the 'Le West City Tower' in Magok and investments in office development.* This article has been translated by AI. 2026-07-21 11:32:00
  • South Korea to Lift Military Facility Protection Zones Covering 29.16 Million Square Meters
    South Korea to Lift Military Facility Protection Zones Covering 29.16 Million Square Meters The South Korean Defense Ministry announced on July 21 that it will lift and ease military facility protection zones covering an area of 29.16 million square meters, equivalent to ten times the size of Yeouido.The areas where restricted protection zones will be lifted include five locations: Goseong County, Sokcho City, Pyeongtaek City, Goyang City, and Yongsan District (862,800 square meters). Additionally, the controlled protection zone in Siheung City (17,000 square meters) will be downgraded to a restricted protection zone, and flight safety zones will be lifted in four areas: Mapo and Eunpyeong Districts in Seoul, Goyang City, and Sejong City (2,051,500 square meters).The Defense Ministry explained, "We have actively pursued the lifting and easing of protection zones to enhance the rights of citizens and invigorate local communities while maintaining a robust military readiness posture."Initially, five areas were determined to be suitable for lifting the military facility protection zone without hindering military operations. These include regions in Goseong County and Sokcho City (639,000 square meters), around an ammunition depot in the Godeok Internationalization Planning District in Pyeongtaek City (133,000 square meters), and areas in Goyang City designated for techno valleys and public housing (77,000 square meters).The restricted protection zone set around the Yongsan Children's Garden, located in the outer perimeter of the Defense Ministry, will also be lifted (137,000 square meters).As a result, height restrictions in the Jangsa-dong and Yeongrang-dong areas of Sokcho City will be effectively lifted. These areas had been designated as restricted protection zones since 1991 to protect military communication facilities, which limited the construction and expansion of buildings exceeding a two-degree angle within a two-kilometer radius, complicating the development of residential complexes and urban planning.Additionally, the controlled protection zone in the military housing area of Gojan-dong in Siheung City (17,000 square meters) will be downgraded to a restricted protection zone, considering that residential areas have already formed and the impact on military operations is minimal.Furthermore, parts of the flight safety zones at Suwon Air Base and Jochwine Air Base will be lifted. The Defense Ministry plans to change the use of the Suwon Air Base area in Mapo and Eunpyeong Districts and Goyang City from a support air operation base to a helicopter-only operation base, and will proceed with the lifting of the flight safety zone (1,982,000 square meters). This change is expected to take effect in the second half of this year following amendments to the enforcement decree.The flight safety zone (695,000 square meters) around the existing runway at Jochwine Air Base in Sejong City will also be lifted as part of the integration relocation project of Jochwine and Yeongi Air Bases.The lifting and easing of these protection zones will take effect after the announcement in the official gazette on July 22.Maps and detailed information regarding the topography of the lifted and eased protection zones can be accessed through the relevant local governments and military units, and the current status of the protection zones applicable to each parcel can also be checked through the 'Internet Land e-um' search.Last month, the Defense Ministry announced plans to gradually lift and ease military facility protection zones covering an area 240 times the size of Yeouido as part of its 'Military Facility Regulation Improvement Measures,' raising the civilian control line by an average of 2 kilometers.The Defense Ministry stated, "We will rationally adjust military facility protection zones to improve the lives of residents and develop together with local communities, as long as it does not interfere with military operations." 2026-07-21 11:32:00