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  • Jordan Issues Evacuation Order for Aqaba Airport and Port Amid Iran Tensions
    Jordan Issues Evacuation Order for Aqaba Airport and Port Amid Iran Tensions Jordanian authorities have issued an evacuation order for the international airport and port in the Aqaba region, which connects to the Red Sea.According to the U.S. Embassy in Amman on July 19, the decision follows the detection of specific and credible threat information.The embassy stated on X (formerly Twitter), "All U.S. citizens should avoid traveling to the airport and port in the Aqaba region." It also urged caution regarding visits to military bases within Jordan.This action appears to be a response to escalating military confrontations between the U.S. and Iran, raising concerns about potential attacks targeting U.S. military facilities and assets in the Middle East.Earlier, on July 17, U.S. Central Command announced that Iran had launched an attack on the Muwaffaq Salti Air Base in Azraq, Jordan, using ballistic missiles and drones. This attack resulted in the deaths of two U.S. service members and left one missing.The Aqaba region is strategically located at the northern tip of the Red Sea, bordered by Jordan, Israel, Egypt, and Saudi Arabia. There are concerns that Iran may utilize Houthi rebels in Yemen to conduct attacks in the Red Sea area.In March, the U.S. State Department had already recommended evacuation for American government personnel and their families stationed in Jordan. 2026-07-19 19:56:00
  • Ryu Hyun-jin Becomes First Korean Pitcher to Reach 2,500 Career Strikeouts
    Ryu Hyun-jin Becomes First Korean Pitcher to Reach 2,500 Career Strikeouts Ryu Hyun-jin of the Hanwha Eagles has become the first Korean pitcher to achieve a combined total of 2,500 strikeouts in both South Korea and Major League Baseball (MLB).On July 19, during a home game against the Kiwoom Heroes at Daejeon Hanwha Life Eagles Park, Ryu took the mound and struck out Kwon Hyuk-bin in the second inning.Prior to this game, Ryu had recorded 2,499 strikeouts in his career. With this strikeout, he reached the milestone of 2,500, marking the first time a domestic pitcher has achieved this feat across both Korean and American professional baseball.In the second inning, Ryu allowed three consecutive hits, putting him in a tough spot with runners on first and third base. However, he managed to strike out Kwon Hyuk-bin on three pitches, followed by consecutive strikeouts of Yoo Dong-wook and Choo Jae-hyun, ending the inning without further damage.After the inning, Hanwha manager Kim Kyung-moon congratulated Ryu with a bouquet to celebrate his achievement.Ryu has recorded 1,566 strikeouts in the KBO and 934 in MLB. He debuted with Hanwha in 2006, where he struck out 204 batters in his first season, leading the league in strikeouts, wins, and earned run average. He became the first player in KBO history to win both Rookie of the Year and the regular season MVP in the same year.Ryu led the league in strikeouts again in 2007, 2009, 2010, and 2012, setting a personal best of 210 strikeouts in 2012. After moving to MLB in 2013, he recorded 665 strikeouts with the Los Angeles Dodgers and 269 with the Toronto Blue Jays. Since returning to Hanwha in 2024, he has struck out 135 batters in his first year and 122 last year.Ryu achieved his 1,500th strikeout in the KBO earlier this April, and now he has reached the milestone of 2,500 combined strikeouts in Korea and the U.S. 2026-07-19 19:36:00
  • Former Presidential Chief of Staff Im Tae-hee Fined for Perjury in National Intelligence Case
    Former Presidential Chief of Staff Im Tae-hee Fined for Perjury in National Intelligence Case Im Tae-hee, the former chief of staff to President Lee Myung-bak, has been fined for perjury related to allegations of union suppression by the National Intelligence Service (NIS) during Lee's administration.According to Yonhap News on July 19, the Seoul Central District Prosecutors' Office filed a request for a summary order to impose a fine of 3 million won ($2,500) against Im on July 3. A summary order is a legal procedure that allows prosecutors to seek a financial penalty for relatively minor offenses without a formal trial.Im testified as a witness in a trial concerning allegations that the NIS supported the establishment of a third labor union, denying any involvement in requests for or the delivery of special activity funds. This testimony led to his indictment for perjury.Previously, the prosecution charged former Minister of Employment and Labor Lee Chae-pil and former NIS Director Won Sei-hoon in December 2018 for illegally using special activity funds to support the establishment of the Korean Confederation of Trade Unions, the third labor union. Won was sentenced to nine years in prison and a seven-year disqualification from public office for directing various political operations and misusing NIS funds.Lee also received a one-year prison sentence, suspended for two years. Im, along with Won and Lee, received a deferred prosecution decision, while former Labor Ministry policy advisor Lee Dong-geol was cleared of charges due to insufficient evidence. 2026-07-19 19:24:00
  • College Graduate Unemployment Hits Five-Year High in Q2, Young Adults Represent 64%
    College Graduate Unemployment Hits Five-Year High in Q2, Young Adults Represent 64% In the second quarter of this year, the number of unemployed college graduates exceeded 480,000, marking the highest level in five years. Notably, individuals in their 20s and 30s accounted for over 60% of this group, indicating that the downturn in the job market, particularly due to factors stemming from the Middle East, is disproportionately affecting younger workers. According to the National Data Agency on July 19, the number of unemployed individuals with a college degree or higher reached 481,000 in the second quarter, an increase of 39,000 compared to the same period last year. This figure is the highest for a second quarter since the early days of the COVID-19 pandemic in 2021, when it was 521,000. By age group, 179,000 individuals in their 20s and 130,000 in their 30s were reported as unemployed. Together, the unemployed college graduates in their 20s and 30s totaled 309,000, representing 64.2% of the total. Compared to a year ago, the number of unemployed college graduates in their 20s increased by 7,000, while those in their 30s rose by 27,000. As a result, the unemployment rate for those with a college degree or higher rose to 3.0%, up 0.2 percentage points from a year earlier. The unemployment rate for college graduates in their 20s increased to 8.3%, a rise of 0.6 percentage points, the highest for the same quarter since 2021 (9.6%). The rate for those in their 30s also increased to 2.9%, up 0.6 percentage points. A notable trend in recent statistics is the rise in the number of unemployed job seekers with no prior work experience. In the second quarter, this group numbered 56,000, an increase of 7,000 from the same period last year. This marks the first year-on-year increase in this category since 2019. Particularly concerning is the rise in unemployed job seekers with no work experience among those in their 20s, which increased by 11,000 to 48,000. This is the largest number recorded for the second quarter since 2021 (56,000).* This article has been translated by AI. 2026-07-19 19:08:00
  • K-Bio Aims for $30 Billion in Technology Exports Amid Growing Competitiveness
    K-Bio Aims for $30 Billion in Technology Exports Amid Growing Competitiveness K-Bio has surpassed 20 trillion won in technology exports for the first time last year and is now aiming for 30 trillion won this year. This growth reflects the increasing presence of South Korea's pharmaceutical and bio industry in the global market.According to industry sources on July 19, domestic pharmaceutical and bio companies signed technology transfer contracts worth approximately 13 trillion won in the first half of this year alone. This figure already exceeds half of last year's total, and there is significant optimism in the industry that reaching 30 trillion won annually is achievable based on current trends.Hanmi Pharmaceutical has been a key driver of this growth with a major contract, followed by Aribio, Oscotec, and Alteogen, which have also secured agreements with global pharmaceutical companies.Specifically, Hanmi Pharmaceutical signed a technology transfer agreement worth $1.26 billion (approximately 1.87 trillion won) with the global pharmaceutical company Eli Lilly, reaffirming its ability to close large deals. This is considered the largest technology export deal in South Korea's pharmaceutical and bio sector this year.Aribio is also gaining attention for its technology export achievements. The company recently secured a total of $60 million (approximately 90 billion won) in option fees from China's Puxing Pharmaceutical for its oral Alzheimer's treatment candidate, AR1001. The two companies had previously signed an option and licensing agreement for the global development and commercialization of AR1001 in May, with a total contract value of $4.7 billion (approximately 7 trillion won). Additionally, Puxing Pharmaceutical has recently entered into a strategic equity investment agreement with Aribio worth $27.5 million (approximately 41 billion won), continuing their collaboration.Given that it is rare for domestic companies to challenge global Phase 3 clinical trials for Alzheimer's drugs, industry experts note that "completing late-stage clinical trials is an achievement in itself."Oscotec and Alteogen are also recognized as symbols of the K-Bio technology export trend. Oscotec transferred its autoimmune disease treatment candidate, cebidoplenib, to the U.S. biotech company Agios for a total of $665 million (approximately 1 trillion won).Alteogen successfully completed two technology exports in the first half of this year alone. In January, it signed a drug development contract with GSK's subsidiary Tesaro for $265 million (approximately 400 billion won) using its ALT-B4 platform, followed by a contract with U.S. Biogen in March worth up to $549 million (approximately 820 billion won).The series of contracts by these companies demonstrates that the competitiveness of South Korean drug candidates is translating into actual transactions.There is also a notable movement towards directly conducting activities beyond technology transfer. For instance, Rigakem recently secured a direct investment of 500 billion won from the National Growth Fund, establishing a financial foundation to conduct late-stage clinical development for its antibody-drug conjugate (ADC) new drug. Aribio is also laying the groundwork to directly challenge commercialization by conducting the global Phase 3 trial for AR1001.In the past, it was common for companies to transfer development risks to global big pharma after technology transfer, but now some companies are taking steps to directly manage late-stage clinical trials and commercialization.The government is also strengthening policy support with the goal of transitioning from a "technology export powerhouse" to a "global new drug development country." This is based on the belief that more cases like Yuhan Corporation's lung cancer drug, Lurbinectedin, and SK Biopharm's epilepsy treatment, Cenobamate, which generate actual sales in the global market, need to be expanded.However, the current structure of technology exports still faces limitations. Many contracts are made at the Phase 1 or 2 clinical stages, and the structure of transferring the costs and risks of late-stage clinical trials and approvals to global pharmaceutical companies remains entrenched.Lee Seung-kyu, vice president of the Korea Bio Association, pointed out that "many bio ventures survive through technology exports" and warned that without new support measures, the global competitiveness of South Korea's bio industry could weaken in the face of rapid growth in countries like China, India, and Southeast Asia.He further suggested expanding the application of a "success-based loan" system, where the government provides some funding as a loan, forgiving it in case of business failure, while requiring companies to repay principal and interest and pay special fees in case of success. He emphasized the need for continuous support from the Phase 1 and 2 stages to develop candidates that can enter Phase 3 trials.* This article has been translated by AI. 2026-07-19 19:04:00
  • Korean Pharmaceutical Industry Faces Challenges in Late-Stage Drug Development
    Korean Pharmaceutical Industry Faces Challenges in Late-Stage Drug Development As South Korean pharmaceutical and biotech companies achieve successive technology export successes, they are approaching the status of a 'technology export powerhouse.' However, cost burdens and a lack of experience in late-stage development are identified as bottlenecks for Korean new drugs.According to a report by the Korea Health Industry Development Institute titled 'Bottlenecks and Improvement Directions for the Global Leap of Domestic New Drugs,' the biggest obstacles in domestic drug development are late-stage clinical trials and commercialization. While technology exports serve as a practical strategy to demonstrate the research and development (R&D) capabilities of domestic companies, they also come with the limitation of not accumulating experience in new drug development.Late-stage development involves managing both costs and the risk of failure. A report published by the Korea Bio Association, citing clinical trial data from Biomed Tracker, indicates that phase 2 trials have the lowest success rate in the entire development process. From 2011 to 2020, the average success rate from phase 1 trials to product approval was 7.9%, with only 28.9% of candidates progressing from phase 2 to phase 3. This is significantly lower than the success rates for phase 1 (52%) and phase 3 (57.8%).While phase 1 trials confirm safety, phase 2 trials are the first step in validating the efficacy of candidate substances in patients. The decision to enter phase 3 trials, which require substantial funding, also involves assessing the potential for commercialization, making this stage particularly challenging.This burden is influencing the development strategies of domestic companies. There is a continued trend of opting for technology exports in the early stages of clinical trials, where risks are relatively lower. The significant added value generated during the commercialization process often returns to the global pharmaceutical companies that acquire the technology.The challenges of late-stage clinical trials cannot be attributed solely to funding. With fewer opportunities to complete trials, companies are unable to sufficiently accumulate regulatory responses, approval strategies, and commercialization capabilities. While attention is focused on contract success and the scale of technology exports, the data and know-how accumulated during negotiation failures or clinical trial setbacks do not translate into industry assets. In the global market, even experiences of failure are utilized as assets for future development, but domestically, evaluations remain centered on success stories.Hwang Joo-ri, head of the External Cooperation Division at the Korea Bio Association, expressed concern that technology exports could limit opportunities to accumulate independent development experience. She suggested that a foundation should be established to ensure that data from trial and error, as well as failures, are accumulated as assets for the entire industry.Looking ahead, the second half of this year is expected to serve as a litmus test for the late-stage development capabilities of domestic companies. Kolon TissueGene is set to announce the topline results of its phase 3 clinical trial for the osteoarthritis gene therapy 'TG-C' in the U.S. this month. If the results are positive, it could confirm the potential for the world's first disease-modifying osteoarthritis drug (DMOAD) and enhance the overall credibility of the domestic bio industry.Aribio is conducting a global phase 3 trial for its oral Alzheimer's treatment 'AR1001' and is expected to announce key results within the year, generating increasing market anticipation.However, it is not easy to enhance late-stage development capabilities solely through corporate efforts. Jeong Yoon-taek, head of the Pharmaceutical Industry Strategy Research Institute, noted that while the U.S. has a structure where venture capital, large-scale funding, and tax incentives work together to distribute the risk of failure in the market, South Korea's funding cycle centered on technology special listings has weakened. He emphasized the need for the National Growth Fund, success-based loans, and the expansion of mega funds, as burdens such as legal losses and revenue maintenance requirements post-listing are acting as obstacles.Hwang Joo-ri believes that policies should shift to support both early research and late-stage development. He stated, 'A bold challenge through proof of concept (PoC) in the early stages and risk-sharing in late-stage clinical trials (phase 3) must occur together to create a bio-ecosystem where experiences can be accumulated without fear of failure.'* This article has been translated by AI. 2026-07-19 19:04:00
  • President Lee: South Koreas Journey a Model of Shared Success
    President Lee: South Korea's Journey a Model of Shared Success President Lee Jae-myung stated on July 19 that "South Korea's journey from a nation receiving aid to one that provides it, and now shares cultural values, is a shared success story of humanity forged through cooperation and solidarity."Speaking at the opening ceremony of the 48th UNESCO World Heritage Committee in Busan, he emphasized that "South Korea has achieved economic growth and mature democracy by leveraging international cooperation and solidarity, establishing itself as a nation that blooms with a brilliant culture and deeply engages with the world."He described world heritage as a symbol that transcends borders and generations, serving as a solid foundation for peace and cooperation among nations. "In the process of remembering and preserving world heritage together, the global community can respect each other's histories and strengthen mutual trust and solidarity among humanity," he added.President Lee highlighted the increasing value of cultural dialogue, especially in times of conflict and division. He referenced Kim Gu's emphasis on the 'power of culture,' stating that the spirit of the UNESCO Charter, which calls for building 'walls of peace in the hearts of humanity,' aligns perfectly with Kim Gu's vision for peace and unity.He noted that the holding of the UNESCO World Heritage Committee in South Korea coincides with the 150th anniversary of Kim Gu's birth, calling it no coincidence. "South Korea will continue to uphold Kim Gu's legacy by protecting humanity's precious heritage and contributing to global peace and prosperity based on our rich cultural strength," he pledged.Additionally, President Lee described Busan as a city that embodies South Korea's challenging modern history, stating, "Busan exemplifies how international cooperation can transform the fate of a city and a nation."He expressed a commitment to working with UNESCO to create a more peaceful and prosperous future for humanity, hoping that this meeting will serve as a new milestone for the protection of world heritage and international cooperation.Before the opening ceremony, President Lee met with UNESCO Secretary-General Khaled Al-Anaani. He remarked, "Thanks to UNESCO, South Korea's younger generations have received education, which has contributed to our growth. Now, we have evolved from a nation that received aid to one that provides assistance globally, all thanks to UNESCO's significant contributions."Al-Anaani expressed gratitude for the support that enabled the event to be held in South Korea, stating, "The President's personal attendance symbolizes strong support for the UNESCO World Heritage Committee and the commitment to preserving cultural heritage."* This article has been translated by AI. 2026-07-19 18:48:00
  • Prime Minister Han Seung-soo Promotes Growth for All at SMEs Meeting
    Prime Minister Han Seung-soo Promotes Growth for All at SMEs Meeting Prime Minister Han Seung-soo met with representatives from small and medium enterprises (SMEs) on July 19, stating, "I will do my best to ensure that the fruits of industrial and economic growth are shared with SMEs and small businesses, creating a virtuous cycle of growth for all citizens."During a luncheon meeting at the Prime Minister's residence in Samcheong-dong, Seoul, Han hosted officials from eight SME organizations, including the Korea Federation of Small and Medium Enterprises, the Korea Federation of Micro Enterprises, and the National Merchants Association.The meeting aimed to encourage SMEs, which are leading the recovery of the economy amid domestic and international uncertainties, and to explore practical support measures that can be felt by SMEs and small businesses in the rapidly changing industrial environment, including the AI transformation, according to the Prime Minister's Office.Participants shared a meal and freely discussed the current management conditions and suggestions from the SME sector.In particular, the SME representatives emphasized the need for a forum to discuss regulatory reforms and called for the advancement of the venture ecosystem, including the KOSDAQ market, to ensure that venture startups can continue to grow into publicly listed companies.Han expressed gratitude for the support he received during his tenure as Minister of SMEs and Startups, stating that he plans to continue collaborating with businesses to robustly support their challenges and growth.He added, "Let us strive to create an irreplaceable South Korea with the spirit of self-reliance and perseverance, as chosen by the SME sector in 2026, and I will continue to communicate directly with stakeholders in various fields to develop effective policies."Kim Ki-moon, chairman of the Korea Federation of Small and Medium Enterprises, thanked the Prime Minister for prioritizing the SME sector in the invitation, stating, "We will actively cooperate to ensure successful governance."* This article has been translated by AI. 2026-07-19 18:40:00
  • Kim Sung-yeol Appointed as Economic Security Secretary at the Blue House
    Kim Sung-yeol Appointed as Economic Security Secretary at the Blue House Kim Sung-yeol, the head of the Industrial Growth Division at the Ministry of Trade, Industry and Energy, has been appointed as the Economic Security Secretary at the Blue House.According to a Blue House official on July 19, Kim began his duties by attending a weekly work meeting chaired by Chief of Staff Kang Hoon-sik.The position of Economic Security Secretary had been vacant for a month following the promotion of the previous secretary, Song Gi-ho, to the second deputy director of the National Security Office.The Economic Security Secretary oversees economic diplomacy and security matters under the second deputy director, focusing primarily on international trade and tariff negotiations with the United States.Kim, a civil servant who passed the administrative examination, has held various positions, including Director of Trade Law and Policy and Director of Trade Security Policy, as well as serving as a commercial attaché at the South Korean Embassy in Washington. He has also worked in the Economic Affairs Office at the Blue House during the administrations of Lee Myung-bak and Moon Jae-in.* This article has been translated by AI. 2026-07-19 18:12:00
  • Weather Forecast: Nationwide Rain and Heat Wave Expected
    Weather Forecast: Nationwide Rain and Heat Wave Expected On Monday, July 20, a stationary front will bring rainy weather across the country. Heavy rain, accompanied by strong winds and thunderstorms, is expected mainly in the central regions, while heat will continue in the Chungcheong and southern areas. According to the Korea Meteorological Administration, rain will begin in most parts of the country on the morning of July 20. However, some areas in the southern regions, including South Gyeongsang and Jeju Island, may experience temporary breaks in the rain. Expected rainfall amounts are 20 to 80 mm in Daejeon, Sejong, South Chungcheong, and North Chungcheong, and 20 to 60 mm in Seoul, Incheon, Gyeonggi, inland and mountainous areas of Gangwon, North Jeolla, and northern parts of North Gyeongsang. In Gwangju, South Jeolla, Daegu, southern North Gyeongsang, and South Gyeongsang, rainfall of 5 to 40 mm is anticipated. The five western islands, Ulleungdo, Dokdo, and Jeju Island are also expected to receive 5 to 20 mm of rain. In areas experiencing rain, there is a risk of concentrated downpours that could lead to river flooding, lowland inundation, and landslides. Given the recent heavy rainfall, caution is advised near forests and steep slopes. Despite the rain, the heat will persist. Heat advisories are in effect for parts of Chungcheong and the southern regions, with the maximum perceived temperatures across most areas expected to reach around 31 degrees Celsius. In regions under heat advisories, the perceived temperature could soar to around 33 degrees, while Jeju Island may see temperatures rise to about 35 degrees. Morning low temperatures are forecasted to be between 22 and 26 degrees, with daytime highs ranging from 26 to 33 degrees. Major cities are expected to see daytime highs of 28 degrees in Seoul and Incheon, 30 degrees in Chuncheon, 31 degrees in Daejeon and Cheongju, and 32 degrees in Gwangju, Jeonju, and Ulsan, with Daegu and Jeju reaching 33 degrees. Along the southern coast, South Gyeongsang, and Jeju Island, some areas may experience tropical nights with temperatures not dropping below 25 degrees. Fog is expected over the southern waters of the West Sea, the South Sea, the waters around Jeju Island, and the southern waters of the East Sea. Some island regions and mountainous areas in Gangwon may experience dense fog with visibility below 200 meters, necessitating caution for transportation and maritime safety. Fine dust levels are expected to be at 'good' to 'moderate' levels nationwide. 2026-07-19 18:08:00