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  • Han Byeong-do: Strengthening Filibuster Requirements Amid Opposition from People Power Party
    Han Byeong-do: Strengthening Filibuster Requirements Amid Opposition from People Power Party Han Byeong-do, the acting leader of the Democratic Party and floor leader, stated on July 20 that he would strengthen the requirements for filibusters in response to the People Power Party's announcement of a filibuster against the comprehensive special investigation law extension bill.During a general meeting held at the National Assembly, Han said, "We held the first meeting of the operating committee today and completed the appointment of the secretaries." He emphasized, "We can no longer just watch the People Power Party's lack of cooperation regarding the formation of the National Assembly."He added, "The Democratic Party will create a National Assembly that works solely for the people through strengthening filibuster requirements and shortening the fast-track period."Han also noted, "Currently, 11 standing committee chairs have been elected. I urge those committees to immediately begin processing livelihood-related bills," and requested that committees without chairs hold discussions on key legislative tasks centered around the secretaries.Meanwhile, the Democratic Party plans to proceed with a closure vote 24 hours after the People Power Party conducts a filibuster on the comprehensive special investigation law extension bill, in accordance with National Assembly law.The comprehensive special investigation law extension bill includes provisions to increase the number of dispatched public officials from 130 to 150 and allows for the investigation period to be extended by up to 30 days twice with presidential approval. If passed in the National Assembly, the investigation deadline will be updated from July 24 to August 23. 2026-07-20 14:16:00
  • LIG D&A Opens Latin America Office in Peru
    LIG D&A Opens Latin America Office in Peru LIG Defense & Aerospace (LIG D&A) has opened its 'Peru Latin America Office,' marking a significant step in its expansion into the Latin American defense market. The company announced that on July 17, local time, a ceremony was held to inaugurate the office, attended by Shin Ik-hyun, CEO of LIG D&A, Choi Jong-wook, the South Korean Ambassador to Peru, Congressman Jorge Montoya, and Admiral Bravo De Rueda of the Peruvian Navy, along with over 60 officials from both governments, military, and the defense industry. The new office, alongside the existing office in Colombia, is expected to respond swiftly to the growing defense demand in the region and expand local K-defense needs through close marketing and technical support. During the ceremony, Shin Ik-hyun emphasized, "The opening of the Latin America office is a firm commitment from LIG D&A to grow alongside our customers by sharing their concerns more closely. We aim to become a true partner for Latin American countries through thorough post-sale support, close technical cooperation, and joint growth with local companies, beyond merely selling weapon systems." Recently, LIG D&A has achieved visible results in the Latin American market, particularly in Peru. In November 2024, the company signed a contract to supply combat systems, electronic warfare, and data link equipment for the Peruvian Navy's 3,400-ton frigates and 2,200-ton offshore patrol vessels. With advanced combat system technology, LIG D&A aims to position itself as a key partner in the modernization of the Peruvian Navy, leveraging synergies with HD Hyundai Heavy Industries, which possesses top-tier shipbuilding capabilities. Additionally, in April of last year, LIG D&A participated in the 'Peru International Defense Exhibition (SITDEF 2025),' showcasing various systems including combat systems for vessels, multifunction radars, close-in weapon systems (CIWS-II), guided weapon systems such as Haegung and Bi-gung, submarine systems, unmanned surface vessels, ground anti-tank guided weapons, and communication systems. A representative from LIG D&A stated, "Peru is a strategic hub in the region where security and defense cooperation is of utmost importance. With the opening of this office, we aim to successfully complete our combat system projects and diversify our portfolio to meet the local military's needs, accelerating our expansion into the global market."* This article has been translated by AI. 2026-07-20 14:16:00
  • Choi Tae-won: We Will Solve Community Issues Together as National Chamber of Commerce Launches Social Contribution Initiative
    Choi Tae-won: 'We Will Solve Community Issues Together' as National Chamber of Commerce Launches Social Contribution Initiative Seventy-four local chambers of commerce and regional businesses are set to provide approximately 200 million won in financial and material support to assist households in crisis that are overlooked by welfare programs.The Korea Chamber of Commerce and Industry's New Entrepreneurial Spirit Council (ERT) announced on July 20 at the 'Just Dream On Lounge' within the Naraeul Comprehensive Social Welfare Center in Hwaseong, Gyeonggi Province, the launch of the 'Just Dream' support plan as the first initiative of a joint social contribution project.Attendees included Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, Jeong Eun-kyeong, Minister of Health and Welfare, Kim Hyun-hoon, president of the Korea Social Welfare Council, and Yoon Seong-jin, first vice mayor of Hwaseong.'Just Dream' is a program designed to provide essential goods to residents facing economic hardships without requiring additional documentation, while also connecting them to welfare services through consultations.In this project, the 74 local chambers will participate in financial and material support, campaigns, and promotional activities tailored to their regional conditions. Among them, 21 chambers and 10 local member companies will contribute approximately 200 million won in financial and material aid. The remaining chambers plan to conduct campaigns to encourage participation from local businesses and citizens.After sharing the purpose of the joint initiative and regional support plans, attendees participated in a donation ceremony. They also engaged in volunteer activities, packaging essential items such as instant rice, ramen, and porridge while reviewing the operational status and support cases of 'Just Dream' in Hwaseong.Choi Tae-won stated, "This joint initiative is a collaborative model established by local chambers of commerce and businesses to address common social issues together. It is significant that not only large corporations but also local small and medium-sized enterprises are participating."He added, "I hope that the support for the 'Just Dream' initiative will provide tangible help to neighbors in welfare blind spots. We will continue to work with the community to identify and solve problems, ensuring that the social role of businesses does not end with one-time support."The joint initiative of the national chambers of commerce is a collaborative social contribution project involving 74 local chambers and regional ERT member companies. This initiative marks the first instance of expanding regionally conducted activities into a nationwide joint project, with the 'Just Dream' program selected as its initial task.Meanwhile, the Korea Chamber of Commerce and Industry has been actively addressing various social issues, including a recent forum held in collaboration with the Office for Government Policy Coordination and Pohang University of Science and Technology to discuss regional balanced development and the growth of the AI industry.* This article has been translated by AI. 2026-07-20 14:12:00
  • Russia and Ukraine Exchange Large-Scale Strikes Amid Putins Meeting with North Korean Official
    Russia and Ukraine Exchange Large-Scale Strikes Amid Putin's Meeting with North Korean Official Russia and Ukraine engaged in large-scale attacks targeting each other's urban centers and energy and logistics facilities over the weekend, as Russian President Vladimir Putin met with North Korean Foreign Minister Choe Son-hui to express gratitude for North Korea's support in the war against Ukraine.According to Russian state news agency TASS, President Putin received Choe during her visit to Russia on July 19. Kremlin spokesman Dmitry Peskov stated that "President Putin once again expressed gratitude to the North Korean leadership for their assistance in the special military operation." He emphasized that "the contributions of the North Korean army supporting our military will never be forgotten in our country."Putin also conveyed warm regards to North Korean leader Kim Jong Un through Choe. He praised the diplomatic relations between Russia and North Korea, while Peskov noted that Choe reaffirmed Kim's strategic commitment to fully develop relations with Russia.This visit by Choe marks her first trip to Russia in about nine months, with the purpose and specific schedule of the visit not disclosed.Meanwhile, Russia and Ukraine exchanged large-scale strikes targeting each other's rear areas over the weekend. According to Reuters and AFP, Russia launched ballistic missiles and drones at major Ukrainian cities, including the capital Kyiv, Kharkiv, Zaporizhzhia, and Sumy, resulting in at least eight deaths and numerous injuries.In Kyiv, attacks continued for several hours from early morning, causing fires in five districts of the city. Civilian facilities, including apartments, office buildings, and supermarkets, were damaged.In the northeastern Kharkiv region, a postal logistics warehouse was hit, leading to four deaths and 19 injuries. In Kyiv, an elderly woman lost her life, while two fatalities were reported in southern Zaporizhzhia. In the northeastern Sumy region, a rehabilitation center was struck by guided bombs, resulting in one civilian death.The Ukrainian Air Force reported that Russia launched 41 missiles and 125 drones overnight, with 18 missiles and 108 drones intercepted. The attacks primarily targeted Kyiv.Ukrainian President Volodymyr Zelensky described the strikes as one of the largest ballistic missile attacks since Russia began its full-scale invasion in 2022.In response, Ukraine has intensified its attacks on Russian logistics and energy facilities in the rear. Ukraine reported hitting three oil tankers belonging to Russia's "shadow fleet" in the Black Sea, as well as attacking three oil storage facilities and another fuel-related site in the southern Stavropol region.On the previous day, drone strikes targeted logistics warehouses of Russia's largest online retailer Wildberries in the Moscow region of Elektrostal and Tambov region of Kotovsk, resulting in eight deaths and over 60 injuries.* This article has been translated by AI. 2026-07-20 14:12:00
  • Bio, fashion IPOs seek to inject life into subdued KOSDAQ
    Bio, fashion IPOs seek to inject life into subdued KOSDAQ SEOUL, July 20 (AJP) — South Korea's KOSDAQ, which turned 30 this month but has fallen 14 percent this year while the KOSPI has surged more than 60 percent, will look to a handful of biotechnology and fashion IPOs this week to revive its subdued listing market. The listings come as the KOSDAQ's fundraising market remains sluggish. Only 25 companies debuted on the exchange in the first half, down from 37 a year earlier, while total IPO proceeds fell to 740 billion won ($534 million) from more than 1 trillion won, according to the Korea Exchange. The second-half IPO calendar begins with strong investor demand for HL Genomics, a manufacturer of active pharmaceutical ingredients (APIs) used in medicines for chronic diseases. Founded in 2000, the company supplies pharmaceutical ingredients for cardiovascular, allergy, diabetes, obesity and neuropsychiatric treatments. It is scheduled to begin trading on Friday. Institutional investors subscribed 714.5 times the shares on offer during bookbuilding, enabling the company to price its IPO at 21,500 won, the top of its target range. Retail investors also showed robust demand, subscribing 667.2 times the shares available and depositing about 4.6 trillion won. The offering raised about 55.1 billion won, giving HL Genomics a market capitalization of roughly 167.3 billion won at the offer price. The company has posted operating profits for 19 consecutive years, supported by stable demand from its parent, Hanlim Pharmaceutical, while steadily expanding sales to external customers. Revenue rose 2.5 percent to 28.9 billion won ($20.8 million) in 2025, while operating profit increased 3.3 percent to 9.3 billion won. It has maintained an average operating margin of 32.3 percent over the past three years. Next in the waiting is Ingenia Therapeutics, a U.S.-based biotechnology company developing treatments for eye and kidney diseases, which is conducting institutional bookbuilding this week for a KOSDAQ listing through depositary receipts (DRs), allowing overseas companies to trade on the Korean exchange. Its lead drug candidate, MK-8748, is a late-stage treatment for retinal diseases. The asset became part of U.S. drugmaker Merck's pipeline after its acquisition of British biotech company EyeBio in 2024. Ingenia plans to list 5 million DRs at a target price of 12,000 won to 14,500 won apiece. Its retail subscription has been postponed to July 30-31 from the originally scheduled July 23-24. Delicious, the operator of K-fashion wholesale platform ShinSangMarket, will also begin institutional bookbuilding from July 23 to 29 ahead of its IPO. The company plans to offer 2.2 million shares at a target price of 5,000 won to 7,000 won, with retail subscriptions scheduled for Aug. 3-4. 2026-07-20 14:05:27
  • Korean Shipbuilding Association Launches Climate Change Research
    Korean Shipbuilding Association Launches Climate Change Research The Korean Shipbuilding and Marine Plant Association is set to comprehensively analyze the risks and opportunities posed by climate change to the domestic shipbuilding industry and develop policy responses.On July 13, the association held a kickoff meeting for a study on the impact of climate change on the shipbuilding industry and policy recommendations, in collaboration with the Korea Institute for Industrial Economics and Trade and Samjong KPMG.This research will focus on analyzing the effects of climate change on production activities, supply chains, and export competitiveness across the entire shipbuilding value chain. It aims to derive response strategies and policy tasks that reflect the industry's characteristics.Recently, the business environment for the shipbuilding industry has been rapidly changing due to stricter greenhouse gas reduction regulations from the International Maritime Organization (IMO) and the European Union's expansion of carbon regulations. The intensifying competition in eco-friendly technologies and the need for enhanced supply chain management, along with the increasing physical risks from climate change such as heatwaves, typhoons, and heavy rainfall, necessitate a strengthening of the industry's response capabilities.In response, the association plans to explore new growth opportunities, such as the rising demand for eco-friendly ships during the low-carbon transition. Major domestic shipbuilders will also participate in the research to reflect industry opinions and derive policy implications for enhancing decarbonization and sustainable management competitiveness.The association expects the research results to enhance the shipbuilding industry's capacity to respond to climate change and serve as foundational data for related policy formulation. Additionally, it plans to continue collaborating with relevant government departments, including the Ministry of Trade, Industry and Energy, to develop guidelines for calculating Scope 3 greenhouse gas emissions in the shipbuilding industry, create guidelines for ship environmental performance labels, and support compliance with EU supply chain due diligence regulations, thereby establishing an ESG framework.An association official stated, "Addressing climate change is a key task for securing sustainable growth and future competitiveness in the shipbuilding industry, beyond just risk management. We will propose policy support directions that can be utilized in the industry to establish a foundation for sustainable growth in the domestic shipbuilding sector."* This article has been translated by AI. 2026-07-20 14:04:00
  • SK Eteronics Shares Surge 9% Amid Rising Global Oil Prices
    SK Eteronics Shares Surge 9% Amid Rising Global Oil Prices SK Eteronics is experiencing a surge of over 9% in its stock price, driven by improved investment sentiment in the renewable energy sector due to rising global oil prices.As of 1:45 PM on July 20, SK Eteronics shares were trading at 56,700 won, up 4,700 won (9.04%) from the previous trading day, according to the Korea Exchange.The spike in oil prices is attributed to escalating military tensions between the U.S. and Iran, which has led to increased buying interest in renewable energy stocks. The rise in oil prices is expected to elevate the costs of fossil fuel power generation, highlighting the economic advantages of renewable energy sources such as solar and wind.On the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude for August delivery closed at $82.49 per barrel, a 4.48% increase from the previous day. Brent crude for September delivery also rose by 4.59% to $88.10 per barrel. Concerns about potential disruptions to oil supply in the Middle East have grown as the U.S. and Iran expand their military targets to include critical infrastructure such as bridges, railroads, and power plants.Analysts have a positive outlook on SK Eteronics' growth potential. On July 16, Yoo Jae-sun, a researcher at Hana Securities, raised the target price for SK Eteronics by 10% to 66,000 won while maintaining a 'buy' rating. Although short-term revenue from solar power purchase agreements (PPAs) is expected to be deferred into the third quarter, Yoo noted that if the company proves its capability to execute over 300 MW of solar PPA projects annually, earnings estimates could be revised upward.Additionally, the government's consideration of measures to promote renewable energy purchase agreements (PPAs) is seen as a factor that could enhance long-term growth expectations. The industry anticipates that if the existing long-term contracts under the Renewable Portfolio Standard (RPS) shift to the PPA market, opportunities for solar development projects will expand.* This article has been translated by AI. 2026-07-20 14:04:00
  • Irans Revolutionary Guard Claims Two Tankers Exploded in Hormuz Strait, Issues Warning to U.S.
    Iran's Revolutionary Guard Claims Two Tankers Exploded in Hormuz Strait, Issues Warning to U.S. The Islamic Revolutionary Guard Corps (IRGC) of Iran claimed that two tankers exploded while attempting to pass through the Hormuz Strait, halting their operations.On July 20, local time, Reuters reported that the IRGC stated, "Two tankers exploded while trying to navigate the southern channel of the Hormuz Strait last night, rendering them immobile." They also alleged that the U.S. military encouraged the passage of these vessels.The IRGC warned, "As long as U.S. actions continue in the region, the passage of chemical fertilizers, oil, and gas through the strait will not be safe," indicating potential further responses. However, the actual occurrence and cause of the tankers' explosions have not been independently verified.On the same day, the United Kingdom Maritime Trade Operations (UKMTO) reported receiving a notification of a fire on one vessel near the Musandam Peninsula in Oman. The cause of the fire remains unknown, and it has not been confirmed whether this vessel is one of the two tankers mentioned by the IRGC.* This article has been translated by AI. 2026-07-20 13:56:00
  • Türkiyes coup resisters carry wounds, no regrets
    Türkiye's coup resisters carry wounds, no regrets SEOUL, July 20 (AJP) - Ten years after a faction of the Turkish military tried to seize power on the night of July 15, 2016, the civilians who poured into the streets to stop it still carry the marks of that night, in bone, in memory, and in the quiet routines of family life. Mehmet Emin Ertaş, a 47-year-old businessman, is missing the metatarsal bone in his right foot, taken by a bullet as he ran toward soldiers firing on the crowd. Elvan Alkılıç, a 36-year-old housewife, spent the night at home with a three-month-old baby while her husband was shot through the arm and head on the Bosphorus bridge. Both spoke to Aju Press on July 17 at the July 15 memorial museum in Istanbul, days after Türkiye marked the 10th anniversary of the failed coup. The attempt was the bloodiest in modern Turkish history. Rebel soldiers blocked the Bosphorus bridge, fighter jets bombed the parliament building in Ankara, and tanks rolled through Istanbul. President Recep Tayyip Erdoğan, reached by video call on live television, urged citizens into the streets. Thousands went. By morning the coup had collapsed, and the government counted 253 dead, most of them civilians. Their names were read aloud at this year's anniversary ceremony. The Turkish government blames the coup on followers of Fethullah Gülen, a cleric who lived in self-imposed exile in the United States from 1999 until his death in Pennsylvania in October 2024. Ankara designates his movement a terrorist organization under the name FETÖ, short for Fethullahist Terrorist Organization, and has purged tens of thousands of suspected members from the military, judiciary, and civil service since 2016. Gülen denied any role in the coup until his death, and his followers reject the designation. Ertaş was at home with his wife and three children when the shooting began. He does not describe hesitating. "If I do not have a country, my life is not important either," he said. "We are a nation in love with freedom. As the Turkish nation, we either have our freedom, or we have no life." What he saw on the street stays specific. A friend beside him was shot in the leg and fell. Another man was shot in the chest, and the crowd laid a Turkish flag on his back after he died. A third was killed by a shot through the left eye, and a fragment struck Ertaş in the face. He kept running, he said, reciting the Islamic declaration of faith, a flag draped over his own back, until a bullet found his foot about 15 meters from the soldiers' line. "I don't have my right foot's metatarsal bone," he said. "But I have my Crescent and Star flag." The wound made Ertaş a gazi, the Turkish honorific for one wounded in the service of the nation, a status the state extended to civilians hurt resisting the coup. It comes with a pension, healthcare, and public honor, and it carries deep historical weight; Mustafa Kemal Atatürk, the republic's founder, bore the same title. Its counterpart is şehit, or martyr, the one who dies. "I wanted to be a martyr, but I was granted the status of a gazi," Ertaş said. "May God never show us those days again." The title sits oddly on him, and he knows it. Ertaş never served in the military. He paid 30,000 liras under Türkiye's paid exemption system, which allows some men to skip conscription. "I think I am the only one who did not go to the military but became a gazi," he said. He refuses to call the men who fired on the crowd soldiers at all. "They were thieves who stole military uniforms," he said, using the word Mehmetçik, the affectionate Turkish term for the common soldier, to describe what the putschists were not. "When the state needs it, we are all Mehmetçik." Asked about foreign criticism that Türkiye's punishment of the plotters has been too harsh, Ertaş did not soften. Turkish courts have handed down hundreds of life sentences in mass trials since 2016, and some Western governments and rights groups have said the crackdown swept up people with no connection to the coup. "My personal conviction is that anyone who betrays their own country, wherever they are in the world, whoever they are, should be executed in the first degree," he said. Türkiye abolished the death penalty in 2004 as part of its bid to join the European Union, and no coup convict has faced execution. Alkılıç experienced the night from the other side of the door. Her husband Ahmet, an architect who stands 1.93 meters tall, left their Istanbul home after the first reports of tanks in the streets. Her own relatives were away at a summer house, leaving her alone with three children, the youngest three months old. "I said, please don't go," she recalled. "He said, don't worry, I will come back. But my phone's battery is dead, don't be scared. I said okay, but I already had a bad feeling." Ahmet reached the Bosphorus bridge, where rebel soldiers had opened fire on the gathering crowd. In the second volley, a bullet passed through his arm and his head as he dove for cover. Thirty-four civilians were killed on the bridge that night, according to the indictment later filed against the soldiers there. The bridge has since been renamed the July 15 Martyrs Bridge. At home, Alkılıç knew none of this. When low-flying F-16s shook the house like an earthquake and her eldest son woke asking where his father was, she told him a small lie. "I said, son, go back to sleep, your dad went to buy baby formula for your sibling," she said. "He went to sleep like that." Ahmet survived, but the first five months were the hardest. The head wound took his speech. "He could not speak. My husband was speaking like a baby," Alkılıç said. "It took one or two years of our lives." He recovered and works again as an architect. The children are now 18, 14, and 10. What remains is physical memory: when fighter jets pass low near the airport, she said, her skin still prickles. Asked whether she ever wished she had stopped him, she said the family has settled the question differently. If it happened again, she said, they would not split up. "Now we all go out together," she said. 2026-07-20 13:49:54
  • Alibaba Joins Race with Next-Gen AI Model as Chinese Startups Compete
    Alibaba Joins Race with Next-Gen AI Model as Chinese Startups Compete Chinese startup Moonshot AI has unveiled its high-performance model, 'Kimi K3,' prompting Alibaba to enter the competition with its next-generation artificial intelligence (AI) model.According to the South China Morning Post on July 20, Alibaba introduced the 'QWON 3.8 Max Preview,' which boasts 24 trillion parameters, a key factor influencing AI performance.Alibaba claims that 'QWON 3.8 is one of the most powerful AI models currently available,' asserting it has performance levels second only to Anthropic's 'Claude Paeable 5.' However, independent comprehensive evaluation results to support this claim have yet to be released.This announcement follows Moonshot AI's introduction of 'Kimi K3' on July 17, which features 28 trillion parameters. Kimi K3 supports image understanding and can process up to 1 million tokens of information at once.In independent performance evaluations, Kimi K3 closely trails the top AI models in the U.S. It scored 57 points on the intelligence index from AI model evaluation firm Artificial Analysis, ranking just behind Anthropic's Claude Paeable 5 and OpenAI's GPT-5.6 Sol.Alibaba plans to release QWON 3.8 in an open-weight format, allowing developers to access the model's learned weights for direct use or modification to suit specific purposes.* This article has been translated by AI. 2026-07-20 13:44:00