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  • Semiconductor Boom Improves Trade Conditions, Central Bank Says
    Semiconductor Boom Improves Trade Conditions, Central Bank Says The semiconductor boom driven by the spread of artificial intelligence (AI) has significantly improved South Korea's trade conditions and is emerging as a key driver of domestic economic recovery. However, experts suggest that the growth concentrated in the semiconductor sector and among high-income groups necessitates policy efforts to broaden its benefits across the economy.According to the Bank of Korea's 'BOK Issue Note: The Impact of the Semiconductor Boom on the Real Economy,' published on July 19, the recent improvement in trade conditions has been primarily driven by rising export prices due to strong semiconductor prices, rather than a decline in international oil prices as seen in the past. The bank anticipates that this improvement will support domestic recovery for an extended period.Thanks to the semiconductor industry's strong performance, South Korea's gross domestic product (GDP) grew by 3.8% in the first quarter of this year compared to the same period last year. The increase in semiconductor prices led to a significant improvement in trade conditions, with gross domestic income (GDI) rising by 13.2%, outpacing GDP growth.This current expansion in the semiconductor sector is expected to be more sustainable than in the past, as it is driven by structural demand increases linked to AI rather than short-term supply factors. The Bank of Korea predicts that favorable trade conditions will persist for a considerable time, continuing to boost GDI growth.The impact on domestic consumption is also expected to differ from previous trends. In the past, improvements in trade conditions due to falling oil prices were perceived as temporary income boosts. In contrast, the current structural demand centered on semiconductors is expected to lead to sustained income growth through rising export prices and improved trade conditions. Additionally, the wealth effect from rising stock prices may further strengthen the recovery in consumption.Investment patterns are also anticipated to change. Previously, cost savings from falling oil prices would take time to translate into investment. However, this time, there is a strong likelihood of rapid investment expansion, particularly among semiconductor companies. The Bank of Korea believes that if the stability of international oil prices aligns with the spread of AI and a reduction in geopolitical risks, the scale and sustainability of the shock from improved trade conditions will be greater than in the past, leading to an expanded impact on domestic consumption.However, the concentration of benefits from the current improvement in trade conditions in the IT sector and among high-income and high-asset groups is seen as a limiting factor for domestic spillover effects. Wage increases and capital gains have been concentrated among lower marginal propensity to consume groups, while most industries outside of IT are expected to face sluggish investment due to poor business conditions and rising costs from geopolitical risks. The semiconductor industry itself is also noted for its relatively low production and employment effects, along with high dependence on imported manufacturing equipment and increased foreign direct investment in response to global supply chain restructuring, which further constrains domestic spread.Kim Da-ae, head of the Bank of Korea's research team, stated, "The current semiconductor boom and the significant improvement in trade conditions will be key drivers supporting future domestic growth. However, since the benefits are concentrated in certain industries and groups, how macroeconomic outcomes are utilized could alter the long-term growth trajectory."She added, "It is essential to make policy efforts to expand the benefits across the economy while strengthening the foundation of the domestic semiconductor industry ecosystem to maintain and enhance global competitiveness, especially as the IT-led growth trend is expected to continue for a considerable time." 2026-07-19 12:04:00
  • Kim Yong-beom: Delisting Single-Stock Leveraged ETFs Would Shock the Market
    Kim Yong-beom: Delisting Single-Stock Leveraged ETFs Would Shock the Market "Delisting single-stock leveraged exchange-traded funds (ETFs) is hard to imagine. If it were to happen, it would deliver a tremendous shock to the market," said Kim Yong-beom, the chief policy officer at the Blue House, during an appearance on KBS's 'Sunday Diagnosis Live' on July 19.He noted that investors are already engaged and that the product has a scale exceeding 10 trillion won. Regarding recent measures by authorities to increase the cash deposit requirement for trading leveraged ETFs to 30 million won and allow transactions in increments of 20 shares, he expressed optimism, stating, "This should alleviate many of the side effects."Kim explained that the authorities had engaged in extensive discussions and had taken significant steps to address issues raised in the market. He predicted that many of the identified problems would be resolved once these measures are implemented.However, he cautioned that leveraged ETFs can have a magnified impact during downturns, suggesting that further discussions among authorities, asset management firms, and securities companies are necessary to minimize market shocks.He highlighted the tendency for increased volatility in leveraged ETF products just before market close, stating, "We need to consider various methods to minimize the impact of these products on the market at specific times."Kim also mentioned the importance of minimizing the discrepancy between the net asset value (NAV) of ETFs and their actual market prices, suggesting that there should be discussions on how to alleviate the selling pressure needed to align these values.On the topic of the rising prices in real estate transactions, rentals, and lease markets, referred to as a 'triple surge,' he expressed regret, saying, "I sincerely apologize to many citizens. The supply and various conditions in the real estate market are quite challenging, and I take this matter seriously."He clarified his previous statement about needing to "build houses immediately," explaining that supply cannot be rapidly increased and that various methods, such as non-apartment rental purchases, must be mobilized urgently to find solutions.Kim emphasized the need to utilize all available supply, including providing non-apartment and private officetels, and converting commercial land allocated in the third new town areas into residential use for short-term effectiveness.He added that activating rental purchases is the most effective short-term measure and that efforts should focus on allowing the conversion of commercial buildings in Seoul into officetels for immediate benefits.However, he noted that redevelopment and reconstruction are not a panacea, stating, "They do not secure supply in the short term. While we can discuss expediting procedures and appropriate discussions on floor area ratios, redevelopment and reconstruction take at least three to five years."Regarding housing supply using semi-industrial areas in Seoul, he mentioned that this is not solely a city issue and that collaboration with the central government could yield greater results. He has scheduled a meeting with Seoul Mayor Oh Se-hoon.On the principles of real estate tax reform, he stated, "We will differentiate between multiple homeowners and single homeowners, applying different standards for actual residents and non-residents."He added that there have been many discussions about treating even a single high-value property differently due to its burden on the housing market, indicating that some judgment has been made on this issue, but the specifics of the standards remain to be determined.In response to claims that increasing property taxes would necessitate lowering capital gains taxes to encourage sales, he acknowledged that this is a consideration but noted that it could be structured to allow for sales at appropriate times while increasing burdens if the time is exceeded.He emphasized that this is a matter of designing tax equity and that while lowering capital gains taxes in response to higher property taxes is a consideration, it cannot be applied uniformly.Meanwhile, Kim addressed concerns about delays in U.S. investment projects, stating, "That is not the case. We are progressing according to a proper schedule," and added that preparations are underway for the first U.S. investment to materialize.When asked about the timeline for visible U.S. investments, he replied, "It should happen in August or September."* This article has been translated by AI. 2026-07-19 11:28:00
  • Opposition Party Intensifies Campaign Against Extension of Special Investigation
    Opposition Party Intensifies Campaign Against Extension of Special Investigation As the National Assembly prepares to discuss a bill to extend the investigation period for the so-called 'second comprehensive special investigation,' the People Power Party is ramping up its criticism.Choi Bo-yun, the party's chief spokesperson, stated on July 19 that "the four special investigations pushed through by the ruling party have squandered 6.461 billion won of taxpayer money on exorbitant office rents in the city center."He pointed out that "29.3% of the total special investigation budget of 22 billion won has gone up in smoke as 'real estate setup costs' such as rent and interior design," adding that "the hard-earned taxes of the people have been reduced to funds for the ruling party's political objectives in a 'real estate feast.'"According to data submitted by the Ministry of Justice to Kim Seung-soo of the People Power Party, the real estate expenditures for each special investigation are as follows: 2.365 billion won for the Kim Geon-hee investigation, 1.886 billion won for the deceased Marine investigation, 1.603 billion won for the insurrection investigation, and 607 million won for the standing special investigation.Choi criticized, "While ordinary citizens are facing threats to their livelihoods, these politically motivated special investigations are enjoying luxurious privileges funded by taxpayer money in the skyscrapers of Gangnam and Gwanghwamun," and he condemned the Democratic Party for threatening to spend more of the people's money by extending the investigation period for the second comprehensive special investigation. He urged an immediate halt to the ongoing politically motivated special investigations and the astronomical waste of taxpayer money since the launch of the Lee Jae-myung administration.Earlier, Jang Dong-hyuk, the party leader, also raised concerns during a Supreme Council meeting on July 16, stating, "The special investigations that waste taxpayer money without any results are pushing through the three major special investigations, the second special investigation, and the extension of the special investigation, while rejecting the people's special investigation for the restoration of voting rights that citizens have been vocally demanding at Olympic Park every day."Jung Jeom-sik, the floor leader, also questioned on his Facebook page on July 10, "Is it normal for the second comprehensive special investigation to be an extension of the first three major special investigations? With the first three major special investigations lasting 510 days and the second comprehensive special investigation set for 150 days, extending it by 30 days would total 690 days. Is it normal for a special investigation to operate for two years?"He added, "The Lee Jae-myung administration is calling for judicial reform in public while dismantling the prosecution and creating a 'special investigation office' behind the scenes, wielding the dual swords of investigative and prosecutorial powers at will," and he pointed out that it is being used as a permanent organization for political retaliation against opposition politicians.Meanwhile, the Democratic Party plans to hold a plenary session on July 20 to process a revision of the special investigation law that would extend the investigation period of the second comprehensive special investigation by 30 days. The People Power Party has announced its intention to filibuster against this move.* This article has been translated by AI. 2026-07-19 11:28:00
  • EcoPro BM Announces Plans for Solid Electrolyte Production by 2027
    EcoPro BM Announces Plans for Solid Electrolyte Production by 2027 EcoPro BM recently announced a capital increase of 1.2 trillion won and unveiled its roadmap for developing next-generation battery materials. The company aims to lead all-solid-state battery technology by developing both solid electrolytes and cathode materials simultaneously.On July 16, EcoPro BM disclosed its full value chain roadmap for all-solid-state batteries during a corporate briefing for general investors held at NH Investment & Securities headquarters in Yeouido, Seoul.Gong Bo-hyun, Executive Director of R&D at EcoPro BM, stated regarding the solid electrolyte development, "We are currently reviewing pilot production with key clients, and we expect the earliest mass production to begin in 2027. We have completed the design of the production line and are prepared to commence construction immediately based on customer demand."Gong added, "We are accelerating our efforts to secure independent process technology in the sulfide solid electrolyte sector, which is a key material for all-solid-state batteries, to gain a competitive edge in the domestic market. Since starting development four years ago, we have optimized the process and composition, and we are currently operating a pilot plant with an annual capacity of 40 tons, with products that have passed quality verification from major battery manufacturers."Notably, EcoPro BM is attracting attention for simultaneously developing cathode materials suitable for solid electrolytes while working on solid electrolyte development. The company is also intensifying its efforts in developing next-generation battery materials, including LMR (cobalt-free manganese-rich) cathodes, sodium-ion battery cathodes, and high-capacity silicon anodes.This announcement is significant as it represents EcoPro BM's first long-term growth strategy amid market concerns surrounding its recent capital increase. The company faced backlash from shareholders when it announced the 1.2 trillion won capital increase but has stated it will not withdraw the plan and will use the funds for investments to secure future competitiveness.Of the funds raised, the largest portion, 765 billion won, will be used for equity investment in the BNSI nickel refinery within the International Green Industrial Park (IGIP) in Indonesia, while the remainder will be allocated for operational funds and expansion investments for its Hungarian plant.Additionally, through this investment, EcoPro BM plans to increase the production capacity of its Indonesian refinery from the initial 66,000 tons per year to 90,000 tons, with commercial operations expected to begin in the second to third quarter of next year. The production capacity of the Hungarian plant is also targeted to expand from the current 54,000 tons to 60,000 tons.* This article has been translated by AI. 2026-07-19 11:28:00
  • U.S. Strikes Irans South for Eighth Day Following Attack That Killed Two Troops
    U.S. Strikes Iran's South for Eighth Day Following Attack That Killed Two Troops The U.S. military has conducted airstrikes near the Strait of Hormuz in southern Iran for the eighth consecutive day, retaliating for an attack that killed two U.S. troops stationed in Jordan. According to reports from the Associated Press and Reuters on July 19, U.S. forces targeted areas around Sirik, Hazavabad, and Qeshm Island early that morning. Explosions were also reported in the major port city of Bandar Abbas. The extent of the damage has not yet been confirmed. AP cited Iran's state news agency IRNA, stating, "Sirik and Hazavabad were attacked, and explosions were heard in Bandar Abbas." The attack near Qeshm Island was reported by Iran's state broadcaster IRIB. The U.S. Central Command stated that the airstrikes aimed to weaken Iran's capabilities that threaten commercial shipping in the Strait of Hormuz and to respond to the attacks on U.S. forces in Jordan. Reuters reported that the airstrikes were initiated under the orders of President Donald Trump. Previously, Iran had launched ballistic missiles and drones at a U.S. military base in Jordan, resulting in the deaths of two U.S. troops, one missing, and injuries to other personnel.* This article has been translated by AI. 2026-07-19 11:28:00
  • Kylian Mbappé Scores 10 Goals at World Cup, Eyes Second Consecutive Golden Boot
    Kylian Mbappé Scores 10 Goals at World Cup, Eyes Second Consecutive Golden Boot French forward Kylian Mbappé has achieved a remarkable milestone by scoring 10 goals in a single FIFA World Cup tournament, the first player to do so in 56 years, enhancing his chances of winning the Golden Boot at the 2026 North America tournament.On July 19, in the third-place match against England at Miami Stadium, Mbappé scored two goals and provided one assist. However, France struggled defensively, conceding four goals in the first half and ultimately losing 6-4, finishing the tournament in fourth place.Mbappé scored in the 48th and 66th minutes, bringing his total to 10 goals and 4 assists for the tournament. The last player to score double digits in a single World Cup was Gerd Müller of West Germany, who netted 10 goals in the 1970 Mexico tournament.Additionally, Mbappé set a new record for the most attacking points in a single World Cup, totaling 14. The previous record was held by Just Fontaine of France (13 goals) in 1958 and Müller (10 goals, 3 assists) in 1970.Mbappé also became the all-time leading scorer in World Cup history, with 22 goals across three tournaments, surpassing Lionel Messi of Argentina, who has 21 goals.His chances of becoming the first player to win the Golden Boot in consecutive World Cups have increased. Currently, Mbappé leads the scoring chart with 10 goals and 4 assists, two goals ahead of Messi, who has 8 goals and 4 assists.The Golden Boot is awarded based on goals scored, assists, and minutes played. Both players have the same number of assists, but Mbappé has played 769 minutes compared to Messi's 712 minutes, who still has the final match to play.Therefore, if Messi does not score at least two goals and provide one assist in the final on July 20, the Golden Boot will go to Mbappé.However, Mbappé appears to be focused more on team success than personal records. In a post-match interview, he stated, "I wanted to challenge for the trophy more than becoming the all-time leading scorer. Scoring is a good thing for my achievements, but it wasn't my top priority today."Meanwhile, England secured their victory with a powerful performance, including a hat trick from Bukayo Saka. This marks their best World Cup finish in 60 years since winning the tournament on home soil in 1966.The 10 goals scored by both teams set a new record for the highest-scoring third-place match in World Cup history, surpassing the previous record of 9 goals in the 1958 match between France and West Germany (6-3).* This article has been translated by AI. 2026-07-19 11:24:00
  • Hyundai Motor chief to raise stake in Boston Dynamics amid physical AI push
    Hyundai Motor chief to raise stake in Boston Dynamics amid physical AI push SEOUL, July 19 (AJP) - Hyundai Motor Group chairman Chung Eui-sun is reportedly set to invest about 120 billion South Korean won (US$80 million) of his personal funds to boost his stake in U.S. robotics company Boston Dynamics, as the automaker seeks to strengthen its foothold in the emerging physical artificial intelligence (AI) sector. According to financial and industry sources on Sunday, Chung and other shareholders of Boston Dynamics are pursuing a plan to acquire the 9.65 percent stake held by SoftBank after the Japanese technology conglomerate exercised its put option. The shares are expected to be purchased by existing shareholders in proportion to their current ownership stakes. Boston Dynamics is currently owned by the automaker's investment entity HMG Global, which holds a 56.4 percent stake, followed by Chung with 22.6 percent, Hyundai Glovis with 11.25 percent and SoftBank with 9.65 percent. Once the acquisition is complete, Boston Dynamics' ownership structure is expected to be reshaped, with HMG Global holding 62.5 percent, Chung 25 percent and Hyundai Glovis 12.5 percent. The acquisition price for SoftBank's stake is estimated at around $320 million. HMG Global is expected to bear about $200 million, while Chung would cover approximately $80 million and Hyundai Glovis about $40 million. Chung previously invested 238.9 billion won of his personal wealth when Hyundai Motor Group acquired a controlling stake in Boston Dynamics in 2021. Including subsequent capital injections and the latest investment, his total personal investment in the robotics company is estimated to reach around 800 billion won. Chung's increased stake to 25 percent is expected to accelerate the group's push into physical AI, a field focused on integrating AI with robots capable of interacting with and operating in the real world. The automaker has been developing Boston Dynamics' next-generation humanoid robot Atlas as a key technology platform. The group plans to test Atlas at its manufacturing facility in Georgia before deploying the robot for parts-sorting operations in 2028 and gradually expanding its use to assembly lines from 2030. Industry observers expect the simplified ownership structure to make it easier for Boston Dynamics to prepare for an eventual initial public offering (IPO), as the auto giant has reportedly been considering various listing options for its robotics unit including a possible Nasdaq debut in the U.S. The latest move reflects Chung's long-term commitment to robotics as he seeks to diversify Hyundai Motor Group beyond traditional automotive manufacturing, positioning it as a leader in future mobility and AI-driven technologies. 2026-07-19 11:22:53
  • Iran Maintains 70% of Missile Capability Despite U.S. and Israeli Strikes
    Iran Maintains 70% of Missile Capability Despite U.S. and Israeli Strikes Despite extensive airstrikes by the United States and Israel, Iran has managed to retain a significant portion of its missile capabilities. Recent attacks on U.S. and allied forces in the Middle East have raised concerns about underestimating Iran's retaliatory capabilities.The Guardian reported, citing leaked U.S. intelligence assessments, that as of May, Iran maintained approximately 70% of its pre-war missile stockpiles and launchers. Of the 33 missile launch sites around the Strait of Hormuz, 30 are reportedly still operational.From February 28 to April 6, the U.S. and Israel focused their attacks on Iranian missile facilities and launchers. However, many underground facilities were not completely destroyed. Recovery efforts during the ceasefire period have also hindered the weakening of Iran's offensive capabilities.Recently, U.S. military casualties have occurred due to Iranian attacks. The U.S. Central Command reported that on July 17, two American service members were killed and one went missing while defending against Iranian ballistic missile and drone strikes in Jordan.Iran is expanding its attack range beyond Jordan to include U.S. military presence in Qatar, Bahrain, and Kuwait. Following the attacks in Kuwait, fires broke out at key infrastructure sites, including power and desalination facilities.While the U.S. maintains military superiority, analysts suggest that eliminating Iran's missile attack capabilities in the short term is challenging. Iran's ability to continue limited-scale attacks indicates that the U.S. may find it difficult to conclude the conflict solely through airstrikes.* This article has been translated by AI. 2026-07-19 11:20:00
  • Iran Exports Up to $6 Billion in Oil Following U.S. Sanctions Lift
    Iran Exports Up to $6 Billion in Oil Following U.S. Sanctions Lift Following the lifting of U.S. maritime sanctions against Iran, the country is estimated to have exported up to $6 billion worth of oil over the past month. Analysts suggest that Iran has significantly increased its oil shipments to China, securing substantial cash flow.According to the Wall Street Journal (WSJ) on the 18th, the Iran Nuclear Weapons Nonproliferation Coalition (UANI) estimates that Iran exported approximately 70 million barrels of oil from mid-June to mid-July, with total export revenues reaching between $5 billion and $6 billion (approximately 7.45 trillion to 8.94 trillion won).Most of these exports are believed to have been directed toward China. Since late June, around 20 Iranian oil tankers have gathered off the eastern coast of Malaysia, which serves as a transshipment hub for oil bound for China.Reports indicate that Iranian tankers have been transferring oil to other vessels outside Malaysian waters before sending it to small private refineries in China, known as 'teapot refineries.'In late June alone, Iran is estimated to have exported about 50 million barrels, equivalent to roughly a month's worth of pre-war oil shipments to China.Analysts predict that the surge in Iranian tankers heading toward Malaysia will result in billions of dollars in additional oil sales revenue flowing into Iran over the coming months.Charlie Brown, an analyst at UANI, stated, “If the sanctions had continued, Iran would have faced significant economic pressure. By rapidly increasing oil exports after the sanctions were lifted, Iran has regained some financial resilience.”The WSJ noted that the funds generated from oil exports could become a crucial resource for Iran, which is grappling with severe economic difficulties. In the context of escalating tensions with the U.S., the money secured during the sanctions relief period has bolstered Iran's capacity to respond.* This article has been translated by AI. 2026-07-19 11:08:00
  • Ruling Party Vows to Uphold Justice on Third Anniversary of Marines Death
    Ruling Party Vows to Uphold Justice on Third Anniversary of Marine's Death On the third anniversary of Marine Chae Haebyeong's death in service, the Democratic Party stated, "We will create a country where justice prevails through complete truth-finding, legal accountability, and measures to prevent recurrence of such incidents, condemning external pressure from power."Spokesperson Park Hae-cheol conveyed this message in a written briefing, stating, "We will not forget Chae Haebyeong's sacrifice. Protecting the lives and safety of the people will be our top priority in governance."Park continued, "Three years ago today, Chae Haebyeong lost his life while carrying out a search mission for missing persons during a disaster. His death was a tragedy resulting from the state's failure to fulfill its responsibility to protect the lives and safety of its citizens."He emphasized, "Even more shocking is the suspicion of concealment and external pressure on the investigation raised after the incident. The external pressure and organized concealment aimed at hiding the truth about the soldier's death constitute a serious crime that undermines the trust of the people in the state and its institutions."Additionally, he noted, "From the beginning of the incident, the Democratic Party has consistently demanded truth-finding, the introduction of a special investigation, and punishment for those responsible. Through the special investigation, the facts regarding the responsibility for Chae Haebyeong's death and the allegations of external pressure and obstruction of the investigation have been revealed to the public."Park added, "A total of 33 individuals, including former President Yoon Suk Yeol and former division commander Lim Seong-geun, have been referred to trial in connection with the external pressure on the investigation and those responsible for the incident."He concluded, "Protecting the lives of the people is the greatest duty of the state. The Democratic Party will fulfill its responsibilities and roles as the ruling party to ensure that no young person responding to the call of the nation is sacrificed again, and that the truth is not obscured by power." 2026-07-19 11:08:00