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Trump Warns of Retaliation Against Iran for U.S. Military Deaths President Donald Trump has issued a strong warning of retaliation against Iran following the deaths of U.S. military personnel due to recent attacks.On July 20, Trump stated on the social media platform Truth Social, "For every U.S. soldier that Iran kills, they will pay a price many times greater." He added that this directive has been communicated to Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs of Staff Dan Cain, along with other military leaders.This statement comes amid a rise in U.S. military fatalities in the Middle East. On July 17, two U.S. soldiers stationed in Jordan were killed and one went missing while defending against Iranian ballistic missile and drone attacks. Additionally, on July 18, another U.S. soldier died while handling unexploded ordnance from an Iranian drone that had been shot down in northern Iraq.Since the onset of the Iran conflict on February 28, the total number of U.S. military deaths has risen to 17.The U.S. military has also continued its offensive against Iran. The U.S. Central Command reported that it completed nine consecutive nights of airstrikes on July 19, targeting Iranian military command facilities, air defense systems, and missile and drone-related sites.* This article has been translated by AI. 2026-07-21 05:52:00
U.S. Considers Restrictions on Chinese AI Amid Rapid Advancements As Chinese artificial intelligence (AI) companies rapidly close the gap with the U.S. in terms of pricing and technological competitiveness, calls are growing within the Trump administration to limit the use of Chinese AI models. Axios reported on July 20 that the U.S. government is exploring options to prevent American companies from using Chinese AI through government procurement regulations and a trade restriction list. A government source indicated that measures are being discussed to make it difficult for companies using Chinese AI to engage in transactions with the U.S. government, or to place Chinese AI research institutions on the trade restriction list. Companies would need government approval to engage with firms on this list, significantly limiting their options. Discussions are also underway to emphasize the security risks associated with Chinese AI, warning companies that using these models could lead to the leakage of sensitive information or security breaches. Previously, the U.S. considered holding companies accountable for security incidents arising from the use of Chinese AI and limiting the use of these models under the pretext of protecting the domestic AI industry. However, concerns that excessive regulation could stifle technological innovation and competition prevented these measures from being implemented. As the competitiveness of Chinese AI continues to rise, the push for regulation is gaining momentum. Recently, the Chinese AI startup Moonshot AI introduced the 'Kimi K3,' which boasts low costs and high performance, rapidly narrowing the technology and price gap with the U.S. Opinions within the U.S. regarding regulations on Chinese AI are divided. While some argue that limiting the use of Chinese models is necessary for national security, others worry that such regulations could disproportionately benefit large American AI companies like OpenAI and Anthropic. David Sachs, a special advisor on AI and virtual assets at the White House, criticized on July 20 that “some large AI companies are trying to push out open-source competitors from the market by leveraging government regulations.” This raises concerns that specific companies may exert influence over regulatory authorities to create rules that favor them.* This article has been translated by AI. 2026-07-21 05:48:00
Khalil Al-Hayya Elected as New Hamas Leader Khalil Al-Hayya, a hardliner, has been elected as the new leader of Hamas, the Palestinian militant group that governs the Gaza Strip, according to reports from Reuters and Al Jazeera on July 20.Al-Hayya was chosen after a runoff vote against his rival, Khaled Meshaal. The BBC reported that the electoral college for Hamas consists of 69 members, requiring at least 36 votes to win. In the initial round, Meshaal narrowly led but did not secure enough votes for victory. Al-Hayya was subsequently elected in the runoff.Born in Gaza City in 1960, Al-Hayya has been active in Hamas since its founding in 1987. In 2006, he was elected as a member of the Palestinian Legislative Council led by the Palestinian Authority (PA), according to Al Jazeera. The Times of Israel reported that following Hamas's invasion of Israel on October 7, 2023, Al-Hayya took refuge in Qatar. He has also been instrumental in diplomatic efforts, leading negotiations with Israel, Egypt, and the United States. He played a key role as a negotiator during the ceasefire agreement with Israel last October.Al-Hayya was considered the right-hand man of Yahya Sinwar, the former supreme leader who was killed in an Israeli attack in October 2024. However, after Israel targeted Sinwar and military commander Mohammed Deif at the onset of the conflict, Hamas has been led by a five-member leadership committee, including Al-Hayya, instead of appointing a new supreme leader.Al-Hayya has personally suffered losses due to Israeli attacks, with four of his children, including his son Osama and daughter-in-law, killed in strikes on their home in 2014. Additionally, his son Hummam was killed in an Israeli attack in Doha, Qatar, last September.A senior Hamas official told AFP, "Khalil Al-Hayya was elected with an overwhelming majority of votes as the supreme leader," adding that the Hamas political bureau will hold a meeting in Istanbul, Turkey, in the coming days to begin restructuring the leadership. The existing leadership committee will resign and dissolve before the new advisory body, the Shura Council, is formed. Al-Hayya is expected to be officially inaugurated next week.Al Jazeera reporter Nour Odeh noted that Al-Hayya is perceived as a hawk in Israel and is closer to Iran than to Turkey or other Arab nations, raising questions about future developments. The Times of Israel also commented that Al-Hayya's election underscores the close ties between Hamas and Iran, which openly calls for the destruction of Israel.Last month, Hamas officially transferred its governance of the Gaza Strip to the National Committee for Gaza, established through former President Donald Trump's peace initiative. The NCAG is led by Palestinian technocrat Ali Shate. 2026-07-21 05:04:00
Hanwha Solutions Finalizes 1.2 Trillion Won Capital Increase, Half of Initial Plan Hanwha Solutions has finalized its capital increase at approximately 1.2 trillion won, which is half of the initially planned 2.4 trillion won.On July 20, Hanwha Solutions announced through a public disclosure that the final issuance price for the rights offering was set at 22,100 won per share.This final price is 20.8% lower than the initial price of 27,900 won proposed after two correction requests from the Financial Supervisory Service last month. Consequently, the total amount raised through this capital increase is confirmed at 1.1713 trillion won, which is half of the 2.4 trillion won initially planned in March.Initially, Hanwha Solutions intended to allocate 1.5 trillion won for debt repayment and 900 billion won for future growth investments. However, due to repeated correction requests from the Financial Supervisory Service and opposition from minority shareholders, the capital increase was reduced to 1.7 trillion won, and the final amount raised decreased to about 1.2 trillion won due to a decline in stock prices.Hanwha Solutions plans to cover the shortfall from the reduced capital increase through self-funding, including securing liquidity in the U.S.Meanwhile, as market volatility increases, the funding conditions for companies pursuing large capital increases are deteriorating. Heightened scrutiny from financial authorities over shareholder value dilution, coupled with market fluctuations, has led to several companies being unable to raise the originally planned amounts.* This article has been translated by AI. 2026-07-21 01:20:00
China Showcases AI Ecosystem at 2026 World Artificial Intelligence Conference China has solidified its strategy for building an independent artificial intelligence (AI) ecosystem by showcasing AI accelerators, computing systems, open-source models, and humanoid robots at the 2026 World Artificial Intelligence Conference (WAIC). The country is emphasizing technological self-reliance while also seeking to expand its influence in global AI governance.According to industry sources, more than 1,100 companies participated in WAIC 2026, held in Shanghai from July 17 to 21, presenting over 3,000 products and technologies. The exhibition covered approximately 100,000 square meters, with around 300 products unveiled for the first time.This year's WAIC has also expanded to showcase China's vision for international AI cooperation. Chinese President Xi Jinping attended the opening ceremony for the first time since the conference's inception, highlighting the controllability of AI while opposing technology restrictions based on national security. On the eve of the opening, representatives from 29 countries signed an agreement to establish the World Artificial Intelligence Cooperation Organization (WAICO), signaling China's intent to enhance its influence in global AI governance.From an industrial perspective, China's achievements in AI technological self-reliance were underscored. Companies like Huawei have unveiled products and services that span AI development to industrial applications, despite restrictions on access to advanced U.S. semiconductors.Huawei introduced its Ascend-based AI computing system, the Atlas 950 Superpod, showcasing a configuration of 1,024 neural processing units (NPUs) that can be expanded to a maximum of 8,192. Other companies, including ZTE, also presented supernode-based AI infrastructure, integrating semiconductors, servers, connectivity technologies, and software to meet the demands of large-scale AI model training and inference. Industry analysts suggest that Chinese companies are strengthening their system capabilities in light of U.S. semiconductor access restrictions.The competitive landscape in AI has shifted towards agent-based models that perform real-world tasks. Chinese companies are promoting open-source models and executable AI, aiming to secure an ecosystem that can be rapidly applied in industry and services.Notably, Moonshot AI drew attention by unveiling its Kimi K3 open-weight model, which boasts 28 trillion parameters and has demonstrated performance on par with top U.S. models in independent evaluations. Following the development of the high-performance AI DeepSeek at a low cost last year, assessments indicate that the performance gap in AI technology between the U.S. and China is narrowing quickly. This strategy is interpreted as an effort to expand the global development ecosystem through open models.Embodied AI and humanoids have also emerged as key topics. Over 200 companies participated in the fields of intelligent computing and embodied intelligence, with more than 300 robots demonstrating tasks such as parts assembly and logistics operations. China is accelerating the application of humanoids in industrial settings based on its manufacturing supply chain, which encompasses everything from motors and gear reducers to sensors, batteries, and final product assembly.Additionally, WAIC introduced a dedicated exhibition area for one-person startups (OPC) for the first time, attracting 180 companies. This area highlighted individuals and micro-organizations utilizing AI tools for development, planning, design, and marketing tasks.* This article has been translated by AI. 2026-07-21 00:28:00
South Korean Film Industry Receives Emergency Support Amid Recovery Efforts South Korean films are drawing audiences once again. Following the success of "If We" and "The King’s Affection" earlier this year, the summer market has seen Na Hong-jin's new film "Hope" quickly surpass 2 million viewers, making it the fastest film to reach that milestone among this year's releases. However, the resurgence in audience numbers does not necessarily indicate a recovery in film production. Last year, South Korean film revenues and audience numbers dropped by 39.4% and 39.0%, respectively, with the average estimated profitability of commercial films plummeting to minus 33.13%. While audiences are returning to theaters, the production sector still faces challenges such as reduced investment and rising production costs.In response to this situation, the government, production industry, and talent management agencies have initiated a collaborative effort to revitalize film production. On July 16, the Ministry of Culture, Sports and Tourism and the Korean Film Council signed an agreement at the National Museum of Modern and Contemporary Art in Seoul, involving major management companies and film production organizations.The agreement's key point is to ensure that the individual appearance fees for lead and supporting actors in films selected for the Korean Film Council's "Mid-Budget Film Production Support" program are set at less than 10% of the net production cost. Although the agreement is a voluntary accord without legal binding, it differs from previous production support initiatives as it involves discussions on improving the production cost structure with the participation of actors and management agencies.The scale of government support has also increased. The mid-budget film production support program, which was established last year with a budget of 10 billion won, has been expanded to 46 billion won this year. Production companies, management agencies, and investment distribution companies will discuss detailed operational plans necessary for the production of supported films through a privately-led autonomous council.During the signing ceremony, the government and the Korean Film Council identified the inability of projects to enter the production stage due to production cost structures as a major issue. Minister of Culture, Sports and Tourism Choi Hwi-young stated, "This is a warm solidarity and a courageous, mature decision to not only reduce production costs but to work together to revive South Korean cinema. We will spare no policy support to ensure that the government's financial assistance and the commitment of filmmakers can create a synergistic effect."The Korean Film Council views this agreement as a starting point for voluntary discussions linked to the mid-budget film production support program rather than a mandatory regulation. The agreement applies only to films selected for the mid-budget film production support program, which will be fully operational this year. It is explained that the production companies and management agencies will negotiate based on the specific conditions of each project during the actual production process.A representative from the Korean Film Council clarified that the 10% appearance fee guideline does not mean that this amount must be strictly adhered to. Instead, it aims to establish reasonable actor fees within the net production cost, tailored to the scale of the project and market conditions.There is an expectation that the autonomous council will be operated around the participating entities of the agreement. Currently, the structure involves production organizations, management agencies, and investment distribution companies, with specific operational methods likely to be established during the production process of supported films.In the management sector, there is a sentiment that this agreement should be seen more as a policy signal for supporting the film industry rather than an immediate change to the production cost structure. While the government's expansion of the mid-budget film production support budget and the establishment of a discussion platform for production companies and management agencies are significant, the actual impact will need to be assessed during the production of supported films.A representative from a management agency remarked, "We interpreted this as a call for the government and industry to discuss improvement measures together to revive the film industry. The government’s commitment to increase funding and support can be seen as a signal of continued support for the film industry."However, they added, "The effectiveness of this will depend on observing the actual production process of supported films, and the appearance fee guidelines should be flexibly applied according to the market situation and characteristics of each project."Some voices suggest that the intent behind the guidelines and their actual effects should be viewed separately. While the willingness of actors and management agencies to share the burden of production costs is meaningful, there are concerns that merely adjusting appearance fees will not significantly change the production environment for mid- to low-budget films. Particularly, mid- to low-budget films often align appearance fees and production scales from the planning stage, raising questions about whether these guidelines will lead to immediate cost reductions.A representative from a film production company stated, "The intent of actors and management agencies to share the burden of production costs is significant, but if it is not common for lead actors' fees to exceed 10% of the net production cost, the actual cost-saving effect may be limited."They emphasized, "Revitalizing mid- to low-budget film production cannot be solved by just one aspect of appearance fees; it must also consider the investment structure, production methods, and post-production costs. Simply providing support funds will not lead to revitalization, so it is crucial to create a structure that allows investors and production companies to take real action."This year’s successes of "If We," "The King’s Affection," and "Hope" demonstrate that audience demand has not completely vanished. However, it is premature to conclude that the production sector is recovering based solely on the performance of a few films.This agreement marks the first step toward revitalizing the stagnant production sector. However, as it is a voluntary agreement limited to government-supported projects and given that the rise in production costs is not solely due to actor fees, it remains to be seen whether adjusting appearance fees will lead to actual production starts and increased investment. To ensure that the audience rebound is not a one-time success, discussions must continue regarding the overall production process, including support expansion, investment structures, production methods, and post-production costs.* This article has been translated by AI. 2026-07-21 00:04:00
Korean Film Industry Sees Significant Growth in Q1 Despite Ongoing Challenges This year, the Korean film industry experienced a notable rebound in the first quarter, with revenue and audience numbers more than doubling compared to the same period last year, marking the highest performance since the onset of the COVID-19 pandemic. However, the short-term increase driven by a few successful films does not indicate a full recovery for the industry as a whole. Last year, the profitability of Korean films worsened, and the operational foundation for theaters continued to decline.According to the Korean Film Council's '2026 Q1 Korean Film Industry Report,' total box office revenue for the first quarter reached 318 billion won, a 58.7% increase from the same period last year. The total number of moviegoers rose to 31.9 million, up 53.2%.The growth of Korean films was even more pronounced. Revenue from Korean films in the first quarter was 233.3 billion won, a 117.5% increase year-on-year, while the number of viewers reached 24.01 million, up 115.1%. Both revenue and audience figures represent the highest levels for the first quarter since the pandemic began in 2020.Korean films captured a market share of 73.4% in revenue and 75.3% in audience attendance. These figures are the highest for revenue since 2007 and for audience share since 2005, based on first-quarter data.The rebound was significantly influenced by several hit films. In January, the mid-budget film 'What If' performed well, and in February, 'The King’s Man' generated 151.8 billion won in revenue and attracted 15.73 million viewers in just the first quarter. This single film accounted for nearly half of the total box office revenue and audience numbers for the quarter.In contrast, last year's performance was markedly different. The '2025 Korean Film Industry Report' indicated that total box office revenue for the year was 1.047 trillion won, a 12.4% decrease from the previous year. The total audience count fell to 100.6 million, down 13.8%. The lack of blockbuster films contributed to a decline in both revenue and audience numbers for two consecutive years.The decline in Korean films was even steeper. Last year, revenue from Korean films was 419.1 billion won, a 39.4% drop, while the number of viewers fell to 43.58 million, a 39.0% decrease. Excluding the COVID-19 period, these figures were the lowest since 2009 for revenue and since 2005 for audience numbers.Profitability also deteriorated. Among 30 commercial films with production costs exceeding 3 billion won, the average estimated return on investment was -33.13%, a decline of 13.86 percentage points from the previous year's -19.27%. Only six of the 30 films surpassed the break-even point, representing just 20% of the total. Additionally, nine films fell into the range of -80% to -100% in profitability. While some films were successful, many commercial films struggled to recoup their production costs.The operational foundation for theaters is also shrinking. As of the end of 2025, there were 547 theaters operating nationwide, a decrease of 23 from the previous year. The number of screens fell to 3,154, down 142, and the total seating capacity dropped to 407,056, a decrease of 39,319. Although 12 new theaters opened, 35 closed, an increase of 12 from the previous year.The Q1 figures suggest that if appealing Korean films are released, audiences may return to theaters. However, the data also reveal a structure where the overall market performance is heavily influenced by the success of specific films. While one or two hits can uplift the market, if this trend does not translate into improved profitability for production and a recovery of the theater operational base, the rebound may not be sustainable.The government's expansion of support for mid-budget film production and agreements between production companies and talent management agencies to adjust actor fees are also related to these indicators. To translate audience growth into future productions, it is essential to move beyond reliance on a few successful films and establish a foundation for the consistent production and release of Korean films of various scales.The first quarter of this year has confirmed the potential for recovery in Korean cinema. However, without a simultaneous recovery in average profitability and the operational foundation of theaters, the market may again be significantly swayed by the performance of a few successful films. The numbers reveal that the Korean film industry still has foundational work to do in terms of production and exhibition.* This article has been translated by AI. 2026-07-21 00:04:00
Korean Film Industry Faces Financial Uncertainty Amid Megabox Bankruptcy The Korean film industry, which had been showing signs of recovery, is now facing uncertainty due to the corporate rehabilitation of Megabox Central. Despite a significant increase in theater revenue and audience numbers in the first quarter of this year, concerns are growing over the cash flow in the film industry as distribution fees and settlement payments incurred before the rehabilitation application have been classified as rehabilitation claims. In the first quarter of this year, total theater revenue reached 318 billion won, a 58.7% increase compared to the same period last year, with audience numbers rising to 31.9 million, up 53.2%. Revenue from Korean films amounted to 233.3 billion won, with 24.01 million viewers, marking increases of 117.5% and 115.1%, respectively. These figures represent the highest quarterly totals since the COVID-19 pandemic began in 2020. On June 14, Megabox Central filed for corporate rehabilitation at the Seoul Rehabilitation Court, which issued a preservation order and a comprehensive prohibition order the following day. According to a notice sent by Megabox Central to distributors, unpaid settlement amounts incurred by June 14 are classified as rehabilitation claims, while amounts incurred after June 15 are categorized as public claims. The settlement amounts incurred before the rehabilitation application will be subject to repayment based on the future rehabilitation plan. Although amounts incurred after June 15 are classified as public claims, the actual payment timing and conditions will depend on the existing contract settlement cycles and the progress of the rehabilitation process. Regional theaters that settle ticket revenues through the headquarters are also affected, as some ticket sales have been classified as rehabilitation claims. These theaters, while operating under the Megabox name, are managed by separate entities and have been settling certain online and partnership ticket sales through the headquarters. The issue lies in the fact that the timing and method of repayment for settlement amounts incurred before the rehabilitation application have yet to be determined. Rehabilitation claims will be repaid according to the court's rehabilitation process and the future rehabilitation plan. The actual payment situation for amounts classified as public claims incurred after June 15 will also need to be confirmed during the settlement process. The Ministry of Culture, Sports and Tourism and the Korean Film Council are reviewing measures to prevent the impact of Megabox Central's rehabilitation from spreading throughout the film industry. On July 10, Minister of Culture, Sports and Tourism Choi Hwi-young, Korean Film Council Chairman Han Sang-jun, and representatives from the distribution industry and regional theaters held an emergency meeting to discuss the current state of the industry and support measures. Minister Choi stated, "We must recognize that if the industry collapses, there will be no future for Korean cinema, and we will actively seek available policy measures to minimize the impact on the industry." The Korean Film Council has been operating a 'Film Industry Impact and Issues Reception Center' since June 25. As of July 14, 27 companies have reported issues related to Megabox Central's rehabilitation. The council is preparing to hold an explanatory meeting on the rehabilitation process in collaboration with a law firm by the end of July. Legal consultations are also planned to coincide with the bond filing process scheduled for early August. While audience numbers and revenue increased in the first quarter of this year, the ongoing rehabilitation process highlights that the revenue generated in theaters and the settlement process according to contracts are crucial variables in the recovery of the film industry. The handling of settlement amounts incurred before the rehabilitation application and the payment situation for amounts incurred afterward are expected to be clarified through the court's rehabilitation process and future settlement procedures. * This article has been translated by AI. 2026-07-21 00:04:00
ASEAN Foreign Ministers' Meeting Begins; Focus on US-China Talks ASEAN Foreign Ministers' Meeting Opens; Attention on US-China Diplomatic TalksThe ASEAN Foreign Ministers' Meeting, taking place from July 21 to 23 in Manila, Philippines, will see the attendance of top diplomats from the United States, China, and Russia, raising interest in the potential for high-level talks between the US and China, as well as the US and Russia.According to the US State Department on July 20, Secretary of State Marco Rubio expressed a willingness to meet with Wang Yi, head of the Central Foreign Affairs Commission of the Communist Party of China (who also serves as Foreign Minister), and Sergey Lavrov, the Russian Foreign Minister.ASEAN member states are expected to discuss energy supply concerns stemming from prolonged conflicts in the Middle East and the US's stance on China. Additionally, they will address the progress of negotiations on a code of conduct in the South China Sea and seek solutions to the ongoing civil war in Myanmar.EU Fines AliExpress 930 Million Euros for DSA ViolationsThe European Union (EU) has imposed a fine of 550 million euros (approximately 930 million won) on AliExpress, the e-commerce platform under Alibaba Group, for violations of the Digital Services Act (DSA).The EU Commission announced on July 20 that its investigation revealed a significant distribution of illegal and counterfeit products on AliExpress, including fake clothing and shoes, toys that do not meet safety standards, and harmful cosmetics.AliExpress is required to submit a corrective action plan to the EU Commission by October 20.Incheon Coupang Warehouse Fire Extinguished; Investigation UnderwayA fire at the Coupang warehouse in Incheon has been extinguished three days after it broke out, prompting a joint investigation to determine the cause.According to the Incheon Fire Department on July 20, the fire started at 6:54 a.m. on July 18 at Coupang's 32nd logistics center in Seongnam-dong, Incheon, and was brought under control around 8 p.m. on July 20, approximately 61 hours later.Fire authorities plan to conduct a joint investigation with the police, the National Forensic Service, and the Korea Electrical Safety Corporation. The investigation will focus on the sixth floor of Building B, which is believed to be the initial point of ignition, once the building's safety is secured."Police Testimony: Separate Investigations Ordered in Jang Yoon-ki Case"Testimony from police officers indicates that the National Investigation Agency (NIA) directed the separation of investigations into the murder of Lee Chae-won and past sexual offenses involving Jang Yoon-ki.According to Yonhap News on July 20, officers involved in the investigation claimed they received instructions from the NIA to treat the murder case and the sexual offense case as separate investigations.The sexual offense in question occurred on May 3, two days before Lee Chae-won's murder, when Jang Yoon-ki allegedly assaulted a female acquaintance from Southeast Asia. Officers stated that after the case was reported to another police station, a combined investigation was considered, but the NIA instructed that it be investigated separately by the Women and Youth Division.The NIA stated, "The circumstances of the investigation, including whether there was an order for separate investigations, should be clarified in future inquiries." If it is confirmed that the NIA was indeed the authority directing the separate investigations, it could lead to significant repercussions.* This article has been translated by AI. 2026-07-20 21:44:00
Paichai High School Baseball Team's Suspension Reduced to One Month The Paichai High School baseball team, which faced a six-month suspension from national competitions due to a controversy over a cheer mocking the May 18 Democratic Uprising, has had its penalty reduced to one month.The Korea Sports Council's Sports Fairness Committee announced on July 20 during its 19th meeting held at the Olympic Hall in Songpa-gu, Seoul, that it has modified the Korea Baseball Softball Association's original six-month suspension to one month.As a result of this decision, the Paichai High School baseball team will be eligible to participate in the 54th Bonghwangdaegi National High School Baseball Championship, which begins on August 6.The controversy arose when the team chanted slogans that were deemed derogatory towards the May 18 Democratic Uprising during a game, leading to the initial six-month suspension from national competitions imposed by the Korea Baseball Softball Association.* This article has been translated by AI. 2026-07-20 21:40:00