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  • Korea Approaches 3% Benchmark Interest Rate Amid Economic Concerns
    Korea Approaches 3% Benchmark Interest Rate Amid Economic Concerns The Bank of Korea has shifted to a tightening monetary policy for the first time in three and a half years, bringing the benchmark interest rate closer to 3%. Market attention is now focused on the possibility and frequency of further rate hikes, especially amid ongoing inflation concerns driven by high oil prices and exchange rates. The tightening trend in major economies, including the United States, is likely to accelerate Korea's rate increase.On July 16, the Bank of Korea's Monetary Policy Committee raised the benchmark rate from 2.50% to 2.75%, marking the first increase since late 2022 and indicating a shift from an accommodative to a tightening stance.Financial analysts predict that the Bank of Korea may implement consecutive rate hikes in August, with the final rate potentially reaching between 3.25% and 3.50%. Rising international oil prices are expected to contribute to long-term consumer price increases, and a narrowing interest rate gap with the U.S. could help reduce exchange rate volatility.The implications of the benchmark rate increase are expected to ripple through the Korean economy. Homeowners with mortgage loans will face increased financial burdens. As of July 16, the mixed mortgage rates from the five major banks ranged from 4.77% to 7.49%. If further rate hikes occur, mortgage rates could exceed 8%.As interest burdens grow, the risks associated with borrowing for investment, known as 'debt investment,' are also increasing. As of the end of last month, the balance of overdraft loans from commercial banks reached 41.34 trillion won, the highest level in over three years. The KOSPI index has experienced significant fluctuations, dropping below 7,000 points, which has heightened the repayment pressures for individual investors who borrowed to invest.For businesses, rising financial costs are expected to dampen capital investment and research and development spending. Companies with lower profitability may face increased pressure for restructuring, leading to reduced employment and a slowdown in the overall economy.Companies that issued corporate bonds during the low-interest period will also face higher rates when refinancing as their bonds mature. Firms with lower credit ratings may find it increasingly difficult to secure funding due to significantly higher borrowing costs.The government is not exempt from these challenges. An increase in interest rates will raise the cost of issuing government bonds, expanding the government's interest burden and potentially constraining its fiscal capacity. This could limit the government's ability to implement supplementary budgets or other fiscal policies.A financial sector official stated, "The interest rate hike increases costs not only for households and businesses but also for government financing, altering the overall cost structure of the economy. The focus should be on the pace of future rate increases and the ultimate level of the final rate rather than just the current hike."* This article has been translated by AI. 2026-07-19 17:04:00
  • Spain and Argentina Face Off in World Cup Final
    Spain and Argentina Face Off in World Cup Final The top teams from Europe and South America will clash for the FIFA North American World Cup trophy. Spain and Argentina will meet in the tournament final on July 20 at 4 a.m. KST at New Jersey's MetLife Stadium.This marks the first time the reigning champions of the UEFA European Championship and the CONMEBOL Copa America will face each other in a World Cup final. Spain won the 2024 Euro by defeating England, while Argentina triumphed over Colombia in the 2024 Copa America.Spain, seeking its second World Cup title after 16 years since the 2010 South Africa tournament, boasts a formidable defense, having conceded only one goal in seven matches. Even Kylian Mbappe, who scored 10 goals in the tournament, could not find the net against Spain.The Spanish national team is currently on a 37-match unbeaten streak (28 wins, 9 draws), having not lost since a 1-0 defeat to Colombia in March 2024. This ties them with Italy's record of 37 matches without a loss from 2018 to 2021. If Spain avoids defeat in regulation time during the final, they will set a new record for unbeaten matches.All eyes will be on 19-year-old Lamine Yamal, who aims to become the first player to win both the Euro and World Cup in the same decade. After celebrating his birthday on July 13, Yamal played a crucial role in Spain's Euro 2024 victory with 1 goal and 4 assists in seven matches. Although he has only one goal in this World Cup, his impactful play has been notable.Argentina, the reigning champions from the 2022 Qatar tournament, could become the third nation to win back-to-back World Cups, following Italy (1934, 1938) and Brazil (1958, 1962). A victory would also mark Argentina's fourth World Cup title and complete a historic four consecutive major tournament wins, including the Copa America in 2021 and 2024.At the center of Argentina's efforts is Lionel Messi, who is vying for the World Cup Golden Ball (best player) and Golden Boot (top scorer) awards, along with a potential Ballon d'Or win in October. Messi's chances of winning the Golden Ball are high, having contributed significantly to Argentina's success in the knockout stage, including two assists in the semifinal against England. He has recorded 8 goals and 4 assists in the tournament.No other player on the Spanish team has matched Messi's individual achievements. Historically, seven of the eleven Golden Ball winners have come from teams that did not win the tournament, suggesting that Messi's third Golden Ball win (following 2014 and 2022) is likely, regardless of Argentina's final outcome.However, the race for the Golden Boot has become more competitive. Messi, who was leading in offensive points, lost his top position to Mbappe, who scored two goals and provided one assist in the third-place match, bringing his total to 10 goals and 4 assists. If Messi wants to claim the Golden Boot, he must score at least two goals and provide one assist in the final or match Mbappe's goal tally while considering playing time, as Messi has played 712 minutes compared to Mbappe's 769 minutes.Messi's performance in the World Cup could also influence his chances of winning a ninth Ballon d'Or. According to a report from Football Planet, the award's organizer, France Football, stated that there is "no reason" Messi should not win, indicating that his achievements, even while playing in Major League Soccer (MLS), would not hinder his candidacy.The all-time record between the two teams stands at 6 wins, 2 draws, and 6 losses, indicating a balanced matchup. Their last World Cup encounter was 60 years ago in 1966, when Argentina defeated Spain 2-1.While the historical record is even, Spain holds a slight edge in this tournament's predictions. According to simulations by the sports statistics platform Opta, Spain has a 56.05% chance of winning, while Argentina stands at 43.95%. Spain's earlier semifinal match may have contributed to their additional rest days.The likelihood of the match going into extra time is estimated at 29%.Additionally, the tournament winner will receive a specially crafted "champion ring" from FIFA, marking the first time in World Cup history that the trophy and medals will be accompanied by this unique award. A total of 2026 rings will be produced, including 30 custom-made for the winning team, each with a unique number. The remaining 1996 rings will be available for purchase as official licensed merchandise worldwide.After the final, the team captain and coach will receive the temporary champion rings first, followed by the actual champion rings, which will be custom-made for the 30 players.* This article has been translated by AI. 2026-07-19 17:04:00
  • Interest Rates Rise as Borrowing Becomes More Difficult
    Interest Rates Rise as Borrowing Becomes More Difficult The Bank of Korea's interest rate hike is increasing the financial burden on borrowers. With financial authorities managing household loan limits, banks are raising their lending thresholds, compounding the difficulties for borrowers who are already facing higher interest rates.As of July 16, the fixed-rate mortgage interest rates at the five major banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) range from 4.77% to 7.49%, with the upper limit surpassing 7%. Compared to the end of May (4.26% to 7.10%), the lower limit has increased by 0.51 percentage points, and the upper limit by 0.39 percentage points. This reflects market expectations of further interest rate hikes.Variable-rate loans, which previously offered lower rates, are also on the rise. The variable rates at the five major banks are now between 4.13% and 6.58%, up by 0.06 to 0.21 percentage points from the end of last month. This increase is due to the rising COFIX (Cost of Funds Index), which has exceeded 3% for the first time in 19 months, reaching 3.05% last month.The situation is concerning as loan limits are rapidly decreasing while interest rates continue to rise. As of July 15, the outstanding household loans at the five major banks, excluding policy loans, totaled 649.66 trillion won, an increase of 4.69 trillion won from the end of last year (644.97 trillion won). This figure exceeds the annual increase target of 4.34 trillion won set by the Financial Supervisory Service by approximately 3.5 trillion won. Major banks are tightening lending standards by reducing mortgage limits and restricting access to mortgage credit insurance (MCI) and mortgage credit guarantees (MCG).With the added burden of rising interest rates, borrowers are expected to face even greater financial challenges. The Bank of Korea has left open the possibility of further rate hikes this year, and banks are finding it difficult to lower rates due to household loan management. If additional rate increases occur, banks' funding costs will rise, leading to upward pressure on loan rates.According to data submitted by the Bank of Korea to lawmaker Lee Jong-wook, a 0.25 percentage point increase in mortgage rates would raise the annual interest burden on borrowers by approximately 1.8 trillion won, with each borrower facing an average increase of 296,000 won. If rates rise by 0.75 percentage points, the average annual interest burden per borrower could increase to 889,000 won.Borrowers with variable-rate loans may see their repayment capacity deteriorate more quickly due to rising rates. Variable-rate mortgages are adjusted periodically based on benchmark rates like COFIX, which means the impact of rate increases is felt more rapidly by households. As of the end of May, the proportion of new variable-rate mortgage loans was 58.4%, the highest level since June 2021 when it was 60.5%.A financial industry official stated, "New borrowers must consider both loan limits and interest burdens. If rising rates increase repayment pressures, there is a risk of higher delinquency rates, particularly among vulnerable groups, leading to potential household loan defaults. Close monitoring is necessary." 2026-07-19 17:04:00
  • BTS Concludes European Tour with 710,000 Fans in Attendance, Ending in Paris
    BTS Concludes European Tour with 710,000 Fans in Attendance, Ending in Paris Group BTS has wrapped up their 'ARIRANG' European tour in Paris, France.On July 18, BTS held the 'BTS WORLD TOUR 'ARIRANG' IN PARIS' at Stade de France, concluding their European tour.During this tour, BTS performed a total of 10 shows across five cities: Madrid, Brussels, London, Munich, and Paris, attracting approximately 717,000 fans. All shows sold out immediately upon ticket release, confirming their immense popularity in Europe.The Paris concert drew an audience of 92,000 per show, marking the highest attendance for a single concert in BTS's history.Paris holds special significance in BTS's tour history. They previously concluded their 'BTS WORLD TOUR 'LOVE YOURSELF: SPEAK YOURSELF' European leg at Stade de France in 2019. Returning to the same venue after about seven years, they celebrated the finale of their new European tour.The members expressed their gratitude, stating, "We were really happy and thankful for the love we received from so many people. From the start of the European tour to Paris, it was such a joyful experience. We were overwhelmed to perform in front of so many fans."They also remarked in French, "A city of fashion, gastronomy, romance, and the best ARMY. Paris has everything we love. We will definitely come back."Jin recalled his experience as a torchbearer for the '2024 Paris Summer Olympics,' saying, "I was with you on those beautiful streets, and I am so happy to be together again. Thank you for making this day so wonderful for us."French President Emmanuel Macron and his wife attended the concert, having visited the venue on July 17 to watch BTS perform.Local media praised the concert, with Le Parisien describing it as an explosive and rich show. Le Monde referred to BTS as a group that has elevated K-pop to the pinnacle of the global music industry, highlighting their journey from debut to the present.Earlier, the German daily Welt introduced BTS as one of the most successful pop groups of the modern era, noting their role as a representative example of transcending Western-centric cultural trends.BTS also set several records during this European tour. They became the first Korean artists to perform at King Baudouin Stadium in Brussels and Allianz Arena in Munich. At Tottenham Hotspur Stadium in London, they attracted the highest audience for a concert held at that venue.The tour significantly impacted the host cities. According to global real estate and hotel data firm CoStar, Madrid's hotel industry recorded its highest revenue per available room in June, with BTS's concert identified as a key event influencing hotel demand.In London, they held 'BTS THE CITY ARIRANG - LONDON,' combining performances with city-themed content. The event integrated BTS's music and narratives into major landmarks like the London Eye, the River Thames, and the British Museum, creating a cultural event enjoyed by fans, citizens, and tourists alike.Meanwhile, BTS is set to co-headline the halftime show at the '2026 FIFA North America World Cup' final on July 20 at New York New Jersey Stadium, sharing the stage with Madonna, Shakira, and Justin Bieber.* This article has been translated by AI. 2026-07-19 16:52:00
  • Jang Dong-hyuk Calls for Immediate Special Investigation into Election Interference
    Jang Dong-hyuk Calls for Immediate Special Investigation into Election Interference During the Constitution Day holiday, Jang Dong-hyuk, leader of the People Power Party, emphasized on July 19 the need for an immediate special investigation into election interference. He stated, "We must uncover the truth through a special investigation recommended by the People Power Party as soon as possible. This is the only way for politics to respond to the public's anger."In a Facebook post, Jang remarked, "For citizens, Constitution Day was 'Olympic Park Day.'" He questioned the legitimacy of a political system that fails to protect even a single vote, asserting, "If we cannot prevent the destruction of the Constitution and safeguard the people's votes, what reason is there for such politics to exist? I will fight alongside you until the end. I will ensure that our pure intentions are realized."After resuming his 'SNS politics' on July 16, Jang continued to criticize the ruling party's push for the merger of military academies. In a separate post, he stated, "The policy of merging military academies is a long-term issue that affects the future of national defense. We must adequately gather public opinion and carefully consider the views of the military and experts. It is not something that one administration can push through unilaterally."He expressed concern, saying, "Yet, they are proceeding with haste, showing no willingness to listen to any opinions. We cannot help but suspect the true motives behind the merger of military academies. I sincerely hope that the goal of the Lee Jae-myung administration is not the collapse of national defense."* This article has been translated by AI. 2026-07-19 16:44:00
  • Jung Min-cheol Questions Youth Political Participation Amid Deposit Controversy
    Jung Min-cheol Questions Youth Political Participation Amid Deposit Controversy Jung Min-cheol, a 2001-born youth politician and vice chair of the Democratic Party's Policy Committee, stated on July 19 that in South Korea, young people or political newcomers can only run for office if they are born into wealth and can rely on family money or if they can easily spend 20 million won (about $15,000) for preliminary elections, with 10 million won (about $7,500) for youth candidates.He expressed his frustration regarding Article 45 of the Political Fund Act, which states that contributions from relatives are not subject to penalties.In a Facebook post, Jung remarked, "I am somewhat cynical about the term 'youth politics.' I believe it is not about having someone to nurture you, but about growing on your own. The problem is that the pathways to grow on your own are blocked." He added that even for preliminary candidates, the situation does not change, pointing out that it takes a week to open a fundraising account, during which time the preliminary election concludes.He urged the party to at least agree to significantly reduce the deposit for external candidates or address the issue of fundraising, stating, "Please open up opportunities for us to challenge, even if it is just our share." He emphasized, "Should we be held back by laws and systems? Nevertheless, I will not give up. I ask you to ensure I pass the preliminary election."On July 18, Jung raised the deposit issue during a live broadcast on YouTube. Previously, he had disclosed his personal account to raise funds for the deposit, but after concerns were raised about potential violations of the Political Fund Act, he indicated he would return the funds, admitting he had not conducted proper legal reviews.In response, candidates aligned with the pro-Lee Jae-myung faction, including former Prime Minister Kim Min-seok and lawmaker Song Young-gil, voiced criticism of the party's deposit regulations. President Lee Jae-myung also noted, "Current lawmakers may have less burden due to political funds, but those outside, especially the youth, face significant challenges. Given that the party's finances are not strained, and considering the difficulties faced by young people, we should consider reverting the deposit to previous levels if possible."During Lee's tenure as party leader, the deposit for the party convention was reportedly set at 40 million won (about $30,000) for candidates for party leader and 15 million won (about $11,250) for Supreme Council candidates.Meanwhile, the Democratic Party's Election Management Committee plans to hold a full meeting on July 21 to revisit the deposit controversy.* This article has been translated by AI. 2026-07-19 16:40:00
  • Anthropic Proposes $10 Billion Computing Resource Lease to Meta Amid AI Infrastructure Competition
    Anthropic Proposes $10 Billion Computing Resource Lease to Meta Amid AI Infrastructure Competition AI startup Anthropic is in discussions with Meta regarding a computing resource lease agreement worth up to $10 billion. According to Reuters on July 17, Anthropic proposed leasing computing resources from Meta's data centers for a period of two years, potentially totaling $10 billion. Computing resources refer to the processing power of data centers necessary for training and servicing AI models. Meta is currently reviewing the proposal, and negotiations are still in the early stages. Payments would be made monthly, and both parties have included conditions that allow for early termination of the contract. To secure the computing power needed for expanding its AI services, Anthropic has been increasing its use of external data centers. In May, it signed a contract with SpaceX to utilize the 'Colossus1' data center in Memphis, Tennessee. This month, it also entered into a long-term data center lease agreement with Terawulf. This negotiation presents an opportunity for Meta to secure a new revenue stream. The company is investing heavily in building AI data centers and is considering selling excess computing capacity to external companies. Mark Zuckerberg, CEO of Meta, mentioned the possibility of entering the cloud business during a shareholder meeting in May. He noted that external companies have been reaching out almost weekly to utilize Meta's AI models and computing resources. However, he explained that they are not currently pursuing external sales as they have internal needs. Meta is expected to invest up to $145 billion in AI-related facilities this year. If the contract with Anthropic is finalized, Anthropic will secure additional computing power, while Meta will enhance the utilization of its data centers built with significant investments.* This article has been translated by AI. 2026-07-19 16:36:00
  • North Korean Foreign Minister Choe Son-hui Visits Russia Amid Speculation of Kim Jong Uns Trip
    North Korean Foreign Minister Choe Son-hui Visits Russia Amid Speculation of Kim Jong Un's Trip North Korean Foreign Minister Choe Son-hui departed Pyongyang for Russia on July 18, according to a report by the Korean Central News Agency on July 19. Choe's unexpected visit, at the invitation of Russian Foreign Minister Sergey Lavrov, has led to speculation that Kim Jong Un's planned trip to Moscow later this year may be taking shape. The report stated that Choe left from Pyongyang International Airport aboard a private jet, accompanied by Deputy Foreign Minister Kim Jong-kyu and Vladimir Topeha, the acting ambassador of the Russian Embassy in North Korea. The specific purpose and detailed schedule of Choe's visit were not disclosed. Earlier, the Russian Foreign Ministry announced on the same day that Choe would arrive in Russia on July 18 (local time) for an 'official visit,' without providing further details. This marks Choe's first visit to Russia in about nine months, following her official trip from October 26 to 28 last year, which was less formal and included her participation in a Eurasian security conference in Minsk, Belarus. Given that there are no significant diplomatic events or anniversaries prompting this visit, speculation arises that it may serve as a 'preparatory coordination' for Kim Jong Un's visit to Russia. Russian President Vladimir Putin had previously requested a reciprocal visit from Kim during their meeting at the September 2022 Victory Day parade in China, and the possibility of Kim's visit to Russia has been a topic of ongoing discussion. Last month, Chinese President Xi Jinping visited Pyongyang for a state visit and held a summit with Kim Jong Un, coinciding with the 65th anniversary of the North Korea-China Friendship Treaty on July 11, during which high-level officials from both countries visited each other. Yang Moo-jin, a professor at the University of North Korean Studies, predicted that Kim Jong Un's visit to Russia this year would focus on solidifying North Korea-Russia relations. He added, "Following the normalization of North Korea-China relations, North Korea has been receiving simultaneous overtures from both China and Russia, enhancing its strategic position as a key player in the North Korea-China-Russia alliance in response to the U.S.-South Korea-Japan bloc."* This article has been translated by AI. 2026-07-19 16:32:00
  • Pides Development Navigates Challenges with Strategic Shift
    Pides Development Navigates Challenges with Strategic Shift Pides Development, a first-generation developer, is overcoming external challenges such as high interest rates and real estate project financing constraints through trend-based product planning and a consulting-focused business structure.According to the Financial Supervisory Service's electronic disclosure system, Pides Development reported consolidated revenue of 75.2 billion won last year, an 8.4% increase from 69.3 billion won the previous year. Notably, sales revenue surged from 50.2 billion won in 2024 to 75 billion won last year, maintaining a solid revenue base.However, a closer look at the profit and loss items reveals that 78.7% of the 75 billion won in sales revenue, amounting to 59.1 billion won, was consumed by sales costs, leading to a decline in gross profit margin. Additionally, the substantial marketing expenses aimed at resolving unsold units totaled approximately 6.9 billion won, accounting for 57.8% of the total selling and administrative expenses of 11.9 billion won. As construction costs soared and selling expenses surged, the company recorded an operating loss of 4 billion won, widening the deficit from 1.6 billion won the previous year.The net profit of 10.1 billion won recorded in 2024 was misleading, stemming from one-time non-operating income such as gains from asset disposals (20.9 billion won). Last year, the absence of such temporary factors resulted in a net loss of 5.2 billion won.Pides Development has maintained its debt levels from the previous year, focusing on financial management. Last year, short-term borrowings stood at 106.4 billion won, and long-term borrowings at 59.9 billion won, showing little change compared to the previous year. However, the structure of non-operating losses due to financial costs continues to be high, with non-operating expenses reaching 13.5 billion won, more than three times the operating loss of 4 billion won. Of this, interest expenses from financial institutions accounted for a significant portion at 12.6 billion won.Cumulative losses have led to unprocessed deficits accumulating to 42 billion won, resulting in total capital of -38.1 billion won at the end of last year, deepening the state of capital erosion. This is attributed to some assets purchased at high prices during past boom periods being tied up. In fact, the inventory of 'completed buildings' has remained unchanged at 85.5 billion won for two consecutive years. Despite introducing differentiated planning products, the ongoing slump in the sales market has hindered the liquidation of long-term inventory assets.Unlike large companies that are repaying debts through asset sales, Pides Development has shown a financial stagnation, with new borrowings and repayments each around 9 billion won over the past year, indicating a pattern of extending the maturity of existing debts. Consequently, the year-end cash and cash equivalents were tightly managed at a few hundred thousand won, increasing liquidity pressure.However, some market observers are focusing on the progress of key projects that Pides Development has launched as a potential solution to its liquidity issues. A notable example is the 39-story high-rise accommodation facility 'Inscape Yangyang by Parnas,' being constructed by Daewoo Engineering & Construction near Naksan Beach in Gangwon Province. As of July last year, the sales rate had risen to around 60%, and the construction progress exceeded 39%, gradually alleviating key business risks.Pides Development aims to diversify risks through non-residential and stay-type complex developments like 'Inscape Yangyang,' while accelerating a shift away from traditional direct implementation methods that involve large-scale project financing loans in the billions of won. The company is focusing on increasing the proportion of project management and consulting revenue, steering clear of high-risk leveraged projects to build a stable portfolio based on services, thereby confronting the market downturn head-on.Indeed, Pides Development has established a unique position in the industry as a 'researching developer' by annually publishing the 'Seven Major Trends in Space' through its own research and development center. Recently, it proposed an analysis of space trends for 2026-2027, demonstrating proactive market responsiveness. Industry insiders note that CEO Kim Seung-bae, who returned to his core business after completing his term as president of the Korea Developer Association, is focusing on leveraging his unique product planning capabilities to establish a differentiated self-sustaining survival model for mid-sized independent developers.An industry source stated, "Unlike large developers that rely on major projects, Pides Development aims for a lighter financial structure, leveraging planning and trend analysis as its strengths. If it can gradually resolve the completed building inventory tied up on its books and alleviate annual financial cost burdens, it can once again prove its independent survival capability centered on solid fundamentals."* This article has been translated by AI. 2026-07-19 16:32:00
  • Ruling Party Pushes for Extension of Special Investigation Amid Opposition Filibuster
    Ruling Party Pushes for Extension of Special Investigation Amid Opposition Filibuster As negotiations between the ruling and opposition parties remain stalled, the Democratic Party plans to hold a plenary session on July 20 to push through an extension of the special investigation. In response, the main opposition party, the People Power Party, has announced plans for a filibuster, escalating tensions in the National Assembly.According to political sources on July 19, the National Assembly is set to convene the following day to introduce a bill extending the special investigation period by 30 days. The Democratic Party argues that an extension is necessary before the current investigation period ends on July 24. With a majority in the Assembly, the party is expected to pass the bill without significant obstacles.In retaliation, the People Power Party is preparing for a filibuster. The first speaker will be five-term lawmaker Yoon Sang-hyun, followed by fellow lawmakers Kwak Gyu-taek, Lee Jin-sook, Kim Tae-kyu, and Yoon Yong-geun. The party aims to emphasize that the Democratic Party is wasting taxpayer money on a prolonged investigation that has yet to yield results.To counter the filibuster, the Democratic Party has scheduled meetings for its members on July 20 and 21, effectively placing them on standby. The strategy involves demanding a vote to end the filibuster immediately after it begins, with a forced conclusion 24 hours later.As both parties remain entrenched in a deadlock over parliamentary composition, the situation surrounding the special investigation extension and the filibuster could further deepen the divide between them. Last month, the Democratic Party held a plenary session on June 30, where it unilaterally elected chairs for 11 out of 18 standing committees, following prolonged negotiations over the position of the chair of the Legislation and Judiciary Committee. In protest, the People Power Party has boycotted all committee schedules.Despite this, the Democratic Party continues to operate the 11 committees independently while simultaneously holding discussions on pressing issues, including the proposed extension of the special investigation and amendments to the Criminal Procedure Act aimed at abolishing supplementary investigative powers. The party has also warned that it may take serious action if the People Power Party continues to ignore public welfare.Political analysts express mixed views on the outlook for negotiations, with some optimistic that a resolution is imminent, while others fear the standoff could extend beyond this month. Some suggest that a potential compromise could involve the Democratic Party conceding the right to recommend special investigators to the opposition, while the People Power Party accepts the currently vacant committee chair positions. However, it is believed that the Democratic Party may be reluctant to adopt a conciliatory stance until it establishes a new leadership following its party convention.A political insider noted, "From the perspective of Jeong Jeom-sik, the People Power Party's floor leader, he cannot afford to return from his first negotiation with the ruling party empty-handed. Conversely, Han Byeong-do, the Democratic Party's floor leader, lacks justification to make concessions to the opposition during this party convention phase, leaving both sides without viable options to break the deadlock."* This article has been translated by AI. 2026-07-19 16:20:00