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  • Koreas Fair Trade Commission Fines Daebo Magnetic 32 Million Won for Violating Subcontracting Law
    Korea's Fair Trade Commission Fines Daebo Magnetic 32 Million Won for Violating Subcontracting Law Daebo Magnetic, a manufacturer of equipment for secondary batteries, has been penalized by the Fair Trade Commission for failing to issue written contracts as required by law. On July 20, the Fair Trade Commission announced that it has decided to impose a fine of 32 million won on Daebo Magnetic for not providing formal written contracts to its subcontractors when outsourcing manufacturing. Daebo Magnetic produces de-metalization equipment that uses magnetic fields to remove metal contaminants from raw materials. The company supplies major secondary battery manufacturers, including Samsung SDI, LG Energy Solution, and EcoPro BM. According to the commission's investigation, from November 2021 to July 2022, Daebo Magnetic outsourced the manufacturing of de-metalization equipment bodies, frames, and screens to two subcontractors but failed to issue formal contracts containing required legal details and signatures before work commenced on 51 occasions. Specifically, in 50 transactions, the company only sent emails with partial information such as drawings, product names, order quantities, and delivery dates. In the remaining case, the contract lacked signatures and essential legal details, including inspection methods and payment terms. This constitutes a violation of Article 3 of the Subcontracting Law, which mandates that the primary contractor must issue a written contract detailing payment terms and methods, signed by both parties, before work begins. As a result, the Fair Trade Commission has issued a corrective order to prevent similar violations in the future and imposed a fine of 32 million won on Daebo Magnetic. A commission official stated, "This action aims to clarify transaction conditions and prevent disputes by penalizing violations of the fundamental obligation to issue written contracts in subcontracting transactions. We plan to strictly enforce the law against actions that undermine the order of subcontracting transactions in the future." * This article has been translated by AI. 2026-07-20 12:04:00
  • Chinas AI Strategy: Competing with the U.S. in a Global Civilization Race
    China's AI Strategy: Competing with the U.S. in a Global Civilization Race What form will the U.S.-China artificial intelligence (AI) competition take? Will it ultimately create two separate AI worlds? How will China surpass the U.S. in this competition?These questions were raised by a delegation from China's National Development and Reform Commission (NDRC) during an AI seminar held on July 10 in Shenzhen, often referred to as China's Silicon Valley. The focus on future international order and U.S.-China strategic competition, rather than just economic policy, was particularly noteworthy.China's NDRC Reassesses AI Strategy: 'Civilization Competition' with the U.S.According to the latest issue of Hong Kong's Asia Weekly, the NDRC delegation has conducted a series of closed seminars in major AI hubs across China, including Beijing, Shanghai, and Hangzhou, discussing the dynamics of U.S.-China AI competition and response strategies. It is unusual for the NDRC, which oversees national economic policy, to directly engage in a nationwide review of AI strategy. Observers suggest this investigation will shape the future AI strategy of China's leadership and inform policies related to the 15th Five-Year Plan.Asia Weekly noted, "AI has already emerged as a key agenda in the U.S.-China strategic competition," and assessed that the Chinese leadership's interest in AI is comparable to past focuses on nuclear weapons and satellite development, as well as reform and opening up. The ongoing war in Ukraine and changes in the Middle East have prompted China to view AI as a strategic asset that could influence geopolitical dynamics and future civilization order.China does not see the AI competition as merely a technological power struggle. Asia Weekly stated, "Both the U.S. and China are mobilizing national capabilities for AI, which transcends the Cold War-era 'Star Wars' initiative and involves a competition over who will design the organizational framework of future human civilization and international order." Given that AI has the potential to reshape industries, government operations, education, military, and international norms, the outcome of this competition is expected to determine the future global order.Xi Jinping's Speech at WAIC: Leading Open-Source AI OrderThe urgency of the Chinese leadership regarding AI competition is evident in recent remarks by President Xi Jinping. At a national science and technology awards ceremony earlier this month, he stated, "The situation is urging and pushing us forward."On July 17, Xi attended the World Artificial Intelligence Conference (WAIC) in Shanghai, marking the first time a top leader has participated since the event's inception in 2018. The South China Morning Post described this as a symbolic moment, indicating that AI development has become central to China's geopolitical strategy.In his speech, Xi emphasized the need for countries to seize the historical opportunity presented by open-source AI technology and called for support to enhance AI capabilities in developing countries, warning against the emergence of new forms of historical inequality due to unequal access to AI technology.Reuters characterized Xi's address as the clearest expression of China's intent to lead global AI governance, framing China's open-source AI as a global public good and presenting a Chinese alternative to the U.S.-centric AI order.China's strategy of 'open-source, global governance, and Global South' stands in contrast to the U.S. approach. At a recent UN meeting on AI, the U.S. argued that excessive regulation should not stifle innovation, while China advocated for reducing the AI gap between nations and improving technology accessibility for developing countries.China's AI Alliance: Countering the U.S. with Global South LeadershipIn line with this vision, China officially launched the World Artificial Intelligence Cooperation Organization (WAICO) on July 16, with 29 member countries. Xi described this as a significant event in the history of global AI development, responding to calls for greater participation from developing countries in AI governance.WAICO is seen as a Chinese-led AI cooperation platform involving countries from Asia, Africa, and Latin America, designed to counter the U.S.-dominated AI governance framework. As the U.S. seeks to lead AI norms and technology standards through its 'Pax Silica' supply chain alliance, China aims to establish its own international norms and cooperation framework centered on the Global South.China is also accelerating its technological competition with the U.S. On July 17, Chinese AI startup Moonshot unveiled its new large language model (LLM), Kimi K3, targeting OpenAI and Anthropic. Industry analysts suggest that K3 has achieved performance levels competitive with top-tier U.S. AI models backed by substantial capital. Morgan Stanley noted that Kimi K3 exemplifies how Chinese LLMs are rapidly catching up to U.S. leaders in performance and cost competitiveness.* This article has been translated by AI. 2026-07-20 12:04:00
  • Japans Third Beer Category Faces Changes as Tax Reforms Take Effect
    Japan's Third Beer Category Faces Changes as Tax Reforms Take Effect Suntory's 'Kinmugi', Kirin's 'Honkirin', and Asahi's 'Clear Asahi' are commonly found in convenience stores and supermarkets across Japan. These products share a common trait: while they closely resemble beer in appearance, taste, and aroma, they are legally classified as 'third beer.'What exactly is 'third beer'? The answer lies in Japan's unique tax system. The country categorizes beer based on the malt content and production methods, imposing higher tax rates on beverages with a higher malt ratio.In response, beverage companies developed alternatives that maintain a beer-like flavor while benefiting from lower tax rates. This led to the creation of happoshu, a beverage with reduced malt content that offers a similar taste while lowering tax burdens. Following the collapse of Japan's bubble economy in the 1990s, price-sensitive consumers quickly gravitated toward happoshu.As happoshu sales surged, the Japanese government raised taxes, prompting companies to seek new alternatives. They introduced beverages that use little to no malt or mix happoshu with distilled spirits to create a new category with even lower tax rates, known as 'third beer.'This cat-and-mouse game between the government and beverage companies has persisted for nearly 30 years. During this time, third beer has established itself as a leading product due to its affordability. By 2020, its market share reached 46%, surpassing traditional beer's 41%. A market emerged where 'non-beer beer' outsold actual beer.However, this chase will come to an end in October. The Japanese government is set to finalize a tax reform that has been gradually implemented since 2020, unifying the tax rate for beer, happoshu, and third beer at 54.25 yen (approximately $0.46) per 350ml can. With the tax rates equalized, there will be little incentive to produce third beer separately.Indeed, Suntory announced on July 16 that it will transition Kinmugi from third beer to regular beer, set for release on October 6. Kirin will also convert Honkirin to regular beer, launching it on November 4. Both products will increase their malt content to meet the requirements for regular beer. Asahi plans to alter the ingredients and production methods of Clear Asahi to sell it as regular beer. Products originally developed to benefit from lower tax rates will finally become true beers, retaining their names but eliminating the third beer category.Consumer focus is shifting to pricing. According to the Nihon Keizai Shimbun (Nikkei), the current average selling price for a 350ml can of Kinmugi is about 155 yen (approximately $1.42). Even after accounting for the tax increase post-transition, the price is expected to be around 162 yen, still lower than the average price of traditional beers, which ranges from 196 to 197 yen. Meanwhile, traditional beers may see price reductions due to tax cuts, potentially dropping to around 188 yen, narrowing the price gap to about 20 yen. As the price difference shrinks, consumers are increasingly moving from third beer back to traditional beer. Following two rounds of beer tax cuts and tax increases on third beer, the share of traditional beer in the overall beer market rose from 41% in 2020 to 57% in 2025.However, consumers may find it challenging to fully experience the benefits of tax cuts. Although beer taxes have decreased by about 23 yen since 2020, rising raw material costs have led companies to raise their shipping prices twice, effectively offsetting about 80% of the tax cut, according to Nikkei. Meanwhile, beverage companies are rebranding their existing third beer brands as low-cost regular beers to attract price-sensitive consumers. Suntory plans to market this product line as 'Daily Beer,' meaning a beer for everyday consumption.After October, the beer market is expected to shift from a 'beer versus third beer' dynamic to a competition based on price and quality. However, the overall beer market is not expected to recover simply because traditional beer is displacing third beer. Beer sales in Japan have declined by 46% compared to their peak in 1994, and with a shrinking population and consumers gravitating toward low-alcohol canned beverages (RTDs) and non-alcoholic drinks, beer sales are projected to continue decreasing by 1-2% annually. The beverage born from tax evasion will, after 30 years, retain only its name while becoming true beer, yet it will face a shrinking market overall.* This article has been translated by AI. 2026-07-20 12:04:00
  • National Education Commission Seeks Public Input on School Citizenship Education Principles
    National Education Commission Seeks Public Input on School Citizenship Education Principles As political polarization and factionalism seep into classrooms, the National Education Commission is launching a public consultation to establish common standards and directions for school citizenship education. Attention is focused on whether a so-called 'Korean-style Weitelsbach Agreement' can be established to avoid extreme confrontations and turn contentious issues into learning opportunities. The National Education Commission, an administrative body under the President, announced on July 20 that it will conduct online and offline discussions to gather broad input from educational stakeholders and the public on the proposed 'National Basic Principles for School Citizenship Education.' The commission will first hold online discussions with a National Participation Committee composed of 500 students, parents, educators, and general citizens on July 22 and 25. Following that, an in-person forum will take place on July 23 at 2 p.m. at the Avani Central in Busan, where the commission plans to directly hear voices from the education field. The Busan forum will also be streamed live nationwide on the commission's official YouTube channel. Previously, the commission formed a special committee on democratic citizenship education in December to discuss a sustainable citizenship education framework. Concerns have been raised that, despite the educational necessity of certain issues, silence prevails due to fears of political disputes or complaints, while unilateral ideological imposition has led to conflicts. The proposed basic principles are designed to reflect the unique characteristics of Korean society, drawing inspiration from Germany's citizenship education principles known as the 'Weitelsbach Agreement.' It specifies that issues clearly defined as right or wrong according to the Constitution, laws, and national curriculum should be taught explicitly, while contentious issues with varying social perspectives should be presented by teachers in a politically neutral manner, ensuring a balanced view. The aim is to transform disputes into opportunities for rational criticism and discussion. The educational content includes not only constitutional principles and virtues such as empathy, justice, and respect for diversity but also emphasizes the pursuit of truth based on objective facts, free from misinformation like fake news, and digital citizenship as core elements. Notably, the first chapter of the basic principles includes institutional safeguards to allow teachers to teach confidently without fear of complaints or legal action. It clarifies that teachers should be protected under relevant laws, such as the Teacher Status Act, from civil, criminal, and administrative liabilities for legitimate school citizenship education activities conducted in accordance with the basic principles. During the Busan forum on July 23, Chairperson Cha Jeong-in of the National Education Commission will serve as the presenter, explaining the background and purpose of the proposed principles, followed by small group discussions and a Q&A session to facilitate public engagement. Additionally, the commission will conduct an online public consultation from July 20 to 31 for citizens who cannot attend the forum in person. Any South Korean citizen can access the 'Public Opinion Platform' on the commission's website to submit suggestions and ideas for improvement. Chairperson Cha Jeong-in stated, "The National Basic Principles for School Citizenship Education aim to cultivate the character of citizens who respect and care for one another in classrooms free from hate and discrimination. We will build a foundation for healthy citizenship education based on the wisdom of the public gathered both online and offline."* This article has been translated by AI. 2026-07-20 12:04:00
  • Third Quarter Household Loan Standards Tighten as Credit Risks Rise
    Third Quarter Household Loan Standards Tighten as Credit Risks Rise Domestic banks are expected to tighten household loan standards in the third quarter of this year, with rising credit risks for both businesses and households.According to the Bank of Korea's 'Financial Institutions Lending Behavior Survey' released on July 20, the comprehensive lending attitude index for domestic banks is projected to be -7 for the third quarter, a decrease of 5 points from the previous quarter's -2. A positive index indicates a loosening of standards, while a negative index signifies tightening.The index for household housing loans stands at -11, while general household loans (including credit loans) are at -14. Large and small enterprises are both expected to maintain an index of 0.A Bank of Korea official stated, "Corporate loans for both large and small enterprises are expected to remain at the previous quarter's levels. However, household loans will tighten as the trend of managing household debt continues, affecting both housing-related loans and general loans (including credit loans)."Credit risks for both businesses and households are anticipated to increase in the third quarter. The credit risk index by borrower type shows large enterprises at 8, small enterprises at 25, and households at 19.Corporate credit risk is expected to rise, particularly for small businesses, due to ongoing uncertainties in domestic and international management conditions, including the situation in the Middle East. For households, concerns about the repayment capacity of vulnerable borrowers are influencing this outlook.Loan demand is expected to increase for general corporate and household loans, but demand for housing-related loans is projected to decline.The overall loan demand index is at 17. Corporate loan demand is expected to rise for both large (14) and small enterprises (28) due to liquidity needs stemming from increased uncertainties.Household loan demand (19) is expected to increase for general loans driven by needs for living expenses and stock market investments, while housing-related loan demand (-3) is anticipated to decrease due to regulatory tightening.Additionally, in the third quarter, all non-bank financial institutions, excluding credit card companies, are expected to tighten their lending attitudes.Credit risk is projected to rise across all sectors, influenced by poor conditions in certain vulnerable industries and concerns about the repayment capacity of low-credit and low-income borrowers.Loan demand from non-bank financial institutions is expected to increase, particularly for corporate working capital and household living expenses, in mutual savings banks and life insurance companies. In contrast, demand from mutual finance and credit card companies is expected to decline due to sluggish local real estate and lending regulations.This survey was conducted from June 4 to June 17, targeting 203 financial institutions, including 18 domestic banks, 26 mutual savings banks, 7 credit card companies, 142 mutual finance associations, and 10 life insurance companies.* This article has been translated by AI. 2026-07-20 12:04:00
  • New Illegal Lending Scheme Offers High-Interest Loans Without Physical Phones
    New Illegal Lending Scheme Offers High-Interest Loans Without Physical Phones A new type of illegal lending has emerged, offering high-interest loans exceeding 150% annually without providing physical mobile phones as collateral.The Financial Supervisory Service (FSS) announced on July 20 that it has issued a consumer alert after identifying this new illegal lending scheme and a similar deposit fraud disguised as eSIM sales in collaboration with the police.Fraudsters demanded that victims seeking funds register as delivery service operators and then arranged fake mobile phone rental contracts with colluding companies. Although no actual devices were delivered or SIM cards activated, victims were made to sign installation confirmation documents to make the contracts appear legitimate.Some victims were processed as having rented ten mobile phones worth 18 million won, being required to repay 170,000 won daily for 200 days. This translates to an annual interest rate of 160%. If victims failed to repay, the rental claims were transferred to another company, which then threatened legal action for fraud.Additionally, a similar deposit fraud posing as an eSIM sales business was uncovered. The company promised investors returns exceeding 20% per month and initially paid out profits. However, it later demanded additional payments under the guise of taxes before shutting down its website and disappearing.The FSS reported that it has referred eight cases of illegal lending and 15 cases of similar deposit fraud related to the same operators for investigation this year. The agency urged consumers to immediately cease transactions if they are asked for business registration or fake rental contracts as loan conditions, or if they are promised principal guarantees along with high returns.* This article has been translated by AI. 2026-07-20 12:04:00
  • Corruption Scandal Involving Masinrui Family Linked to Major Real Estate Firms
    Corruption Scandal Involving Masinrui Family Linked to Major Real Estate Firms The corruption scandal surrounding Masinrui, a former member of the Chinese Communist Party's Politburo, has revealed connections to major real estate companies such as Hengda and Wanka. According to a report by Chinese economic media outlet Caixin, Masinrui's family leveraged political power to secure urban redevelopment rights in Guangdong province, which they then sold to large real estate developers for substantial profits.The report indicates that Wang Zhanjiang, a real estate entrepreneur from Jilin province, and Hu Donghai, the former chairman of a real estate subsidiary under the state-owned China National Chemical Corporation, acted as proxy agents for the Masinrui family in urban redevelopment projects. Masinrui's brother, Masinquan, played a key role as a behind-the-scenes broker.Wang Zhanjiang established a company called Mars Investment Co., Ltd. in Shenzhen in 2016 and formed a joint venture with China National Chemical Corporation's real estate arm, appointing Hu Donghai as the nominal chairman. Using the state-owned enterprise's name, they secured over ten urban redevelopment rights in Shenzhen.Urban redevelopment rights are a crucial development authority granted by local governments in China, and acquiring them can lead to significant profits when sold to developers. The Masinrui family sold these rights to major real estate firms, including Hengda and Wanka, reaping enormous financial gains. Two of the rights sold to Hengda alone were valued at approximately 10 billion yuan (about $2.2 billion).Mars Investment was once a strategic investor in Hengda. However, just before Hengda's liquidity crisis intensified in June 2021, it sold its 1.6% stake in Hengda for about 5 billion yuan to a Wanka subsidiary, withdrawing from the investment. Following Hengda's collapse, the related investment losses were transferred to Wanka, contributing to a record loss of approximately 88.6 billion yuan for Wanka last year, according to Caixin.The family corruption linked to Masinrui began to surface after his downfall. In May of this year, Hu Donghai came under investigation by authorities, revealing a structure of collusion between real estate rights transactions and political power. Caixin reported that the Hu Donghai case became a key piece of evidence supporting allegations of economic crimes against Masinrui.Masinrui, a prominent technocrat who played a significant role in China's technological advancement, served as the deputy secretary of Guangdong province, the party secretary of Shenzhen, and the governor of Guangdong from 2013 to 2021. He was promoted to party secretary of the Xinjiang Uygur Autonomous Region at the end of 2021.However, he was dismissed from his position as party secretary of Xinjiang in July of last year and has since remained out of the public eye. On July 14, the Central Commission for Discipline Inspection of the Communist Party of China expelled him from the party and public office for serious violations of discipline and law.Chinese authorities have stated that Masinrui accepted bribes and gifts, assisted family members in purchasing properties below market value, and engaged in corrupt activities involving power, money, and sex. They also announced that he committed organized family corruption by allowing relatives to reap substantial profits. 2026-07-20 12:00:00
  • Samchundang Pharmaceutical Shares Surge After FDA Confirms Oral Semaglutide Development
    Samchundang Pharmaceutical Shares Surge After FDA Confirms Oral Semaglutide Development Samchundang Pharmaceutical is experiencing a surge in its stock price after receiving an official response from the U.S. Food and Drug Administration (FDA) regarding the development of an oral semaglutide generic. As of 9:39 a.m. on July 20, the company’s shares rose by 54,900 won (29.82%) to 239,000 won, according to the Korea Exchange.The receipt of the Pre-ANDA response from the FDA has been interpreted as a positive signal for investor sentiment. The Pre-ANDA process involves formal discussions with the FDA about the development strategy for generic drugs, reference listed drugs (RLD), and plans for bioequivalence (BE) testing prior to submitting a generic drug application.Samchundang Pharmaceutical stated that it has secured BE data in line with FDA guidelines, which was utilized in the Pre-ANDA discussions, reaffirming its strategy for entering the U.S. market.A company representative noted, "This official response from the FDA represents significant progress, demonstrating that the oral semaglutide development program is proceeding as planned in consultation with regulatory authorities. It lays a solid foundation for more stable advancement in approval development and global commercialization in the future."Additionally, Samchundang Pharmaceutical recently signed an exclusive supply agreement with a U.S. partner that includes milestone payments of approximately $100 million and revenue sharing. The company has also secured exclusive licensing and commercialization agreements in 11 European countries and is in discussions for business opportunities in Canada, Japan, and the Middle East.* This article has been translated by AI. 2026-07-20 11:56:00
  • KOSPI Plummets Over 3% Amid Semiconductor Stock Declines and Market Volatility
    KOSPI Plummets Over 3% Amid Semiconductor Stock Declines and Market Volatility The KOSPI index dropped more than 3%, falling to the 6610 level. Major semiconductor stocks, including Samsung Electronics and SK Hynix, experienced significant declines, prompting sell-side circuit breakers to activate in both the KOSPI and KOSDAQ markets, indicating increased market volatility.As of 11:43 a.m. on July 20, the KOSPI was trading at 6612.24, down 208.36 points (3.05%) from the previous trading day. The index opened at 6643.58, down 2.60%, and continued to decline throughout the session.Investors were primarily selling, with individuals and institutions offloading 322.3 billion won and 129.8 billion won, respectively, contributing to the index's drop. In contrast, foreign investors were net buyers, purchasing 427.3 billion won.The sell-side circuit breaker for the KOSPI, the 20th of the year, was triggered at 11:21 a.m. This occurs when the price of the most traded futures contract based on the KOSPI 200 falls by more than 5% for one minute.The decline was led by major semiconductor stocks. Samsung Electronics was trading at 246,000 won, down 9,000 won (3.51%). SK Hynix also fell by 61,000 won (3.31%), trading at 1,781,000 won.Other large-cap stocks also showed weakness. Hyundai Motor was down 24,000 won (5.65%), trading at 401,000 won. Conversely, Samsung SDI surged by 54,900 won (29.82%), reaching 239,000 won.The KOSDAQ index experienced an even larger decline, recording a drop of 37.62 points (4.75%) to 754.22 at the same time.The KOSDAQ market triggered its 10th sell-side circuit breaker of the year at 10:52 a.m., as the KOSDAQ 150 futures fell by more than 6% and the KOSDAQ 150 index dropped by over 3% for one minute.Factors weighing on the domestic stock market include deteriorating investor sentiment towards semiconductor stocks and geopolitical uncertainty in the Middle East. Semiconductor stocks in the U.S. and Japan showed weakness during the holiday period, and ongoing tensions between the U.S. and Iran have dampened risk appetite among investors.Lee Kyung-min, a researcher at Daishin Securities, stated, "As the U.S. continues its nighttime airstrikes against Iran for the eighth consecutive day, and Iran has been intercepting vessels attempting to pass through the Strait of Hormuz, geopolitical uncertainty in the Middle East persists."* This article has been translated by AI. 2026-07-20 11:52:00
  • KOSPI Plummets Over 3% Amid Semiconductor Stock Declines and Market Volatility
    KOSPI Plummets Over 3% Amid Semiconductor Stock Declines and Market Volatility The KOSPI index dropped more than 3%, falling to the 6610 level. Major semiconductor stocks, including Samsung Electronics and SK Hynix, experienced significant declines, prompting the activation of sell-side circuit breakers in both the KOSPI and KOSDAQ markets, which increased market volatility.As of 11:43 a.m. on July 20, the KOSPI was trading at 6612.24, down 208.36 points (3.05%) from the previous trading day. The index opened at 6643.58, down 2.60%, and continued to decline throughout the session.Investors were selling off, with individuals and institutions recording net sales of 322.3 billion won and 129.8 billion won, respectively, while foreign investors were net buyers, purchasing 427.3 billion won.The sell-side circuit breaker for the KOSPI was triggered for the 20th time this year at 11:21 a.m. The circuit breaker is activated when the price of the most traded futures contract based on the KOSPI 200 index falls by more than 5% for one minute.The decline in the index was primarily driven by major semiconductor stocks. Samsung Electronics was trading at 246,000 won, down 9,000 won (3.51%) from the previous day. SK Hynix also fell by 61,000 won (3.31%), trading at 1,781,000 won.Other large-cap stocks also showed weakness. Hyundai Motor was down 24,000 won (5.65%), trading at 401,000 won. In contrast, Samsung SDI saw a significant increase, rising by 54,900 won (29.82%) to 239,000 won.The KOSDAQ index experienced an even larger decline. At the same time, the KOSDAQ index was recorded at 754.22, down 37.62 points (4.75%) from the previous day.The KOSDAQ market triggered its 10th sell-side circuit breaker of the year at 10:52 a.m. This was due to the KOSDAQ 150 futures contract falling by more than 6% and the KOSDAQ 150 index dropping by over 3% for one minute.Factors weighing on the domestic stock market include deteriorating investor sentiment towards semiconductor stocks and geopolitical uncertainty in the Middle East. Semiconductor stocks in the U.S. and Japan showed weakness during the holiday period, and ongoing tensions between the U.S. and Iran have dampened risk appetite among investors.Lee Kyung-min, a researcher at Daishin Securities, stated, "As the U.S. continues its nighttime airstrikes against Iran for the eighth consecutive day, Iran has also been intercepting vessels attempting to pass through the Strait of Hormuz, contributing to ongoing geopolitical uncertainty in the region." 2026-07-20 11:52:00