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Firefighters still battle to contain major blaze at Coupang logistics center in Incheon SEOUL, July 19 (AJP) - Firefighters are still battling a major blaze at e-commerce giant Coupang's logistics center in Incheon on Sunday, more than 24 hours after the fire broke out on the facility the previous day. The fire broke out at about 6:50 a.m. on the sixth floor of the multi-story storage center in Seoknam-dong, Incheon. Authorities said the flames later spread to the seventh floor, complicating efforts to contain the blaze. One firefighter was hospitalized after inhaling smoke, but no other casualties have been reported as all 121 people inside evacuated safely. Nearly 500 firefighters and more than 100 pieces of equipment had been deployed to the scene, but the fire remained active due to the size of the facility and the large volume of combustible household goods stored inside. According to fire authorities, the entire sixth floor is not burning, but part of it remains engulfed in flames. Each floor is said to cover about 33,000 square meters, roughly the size of 15 soccer fields. "The fire appears to be spreading to the seventh floor along the building's exterior wall," one firefighter said. " We are making efforts to extinguish the fire while taking the risk of structural collapse into consideration. It is difficult to estimate when the fire will be brought under control." Fire officials said firefighting operations have been hampered by poor visibility inside the building and the large volume of highly combustible merchandise stored on the affected floor. Incheon's district office issued emergency alerts urging residents to avoid the area as smoke drifted toward nearby apartment complexes. President Lee Jae Myung instructed relevant agencies to deploy all available resources to extinguish the fire and minimize damage, while emphasizing the need to ensure the safety of firefighters at the scene. In a statement released Saturday afternoon, Coupang Fulfillment Services (CFS) CEO Jeong Jong-cheol apologized for the incident and expressed his wishes for the injured firefighter's swift recovery. "We sincerely apologize for causing concern to the residents of Incheon," he said. "We will prioritize the safety of firefighters, provide full support for firefighting operations, actively cooperate with the authorities' investigation, and provide assistance to local residents affected by the fire." Meanwhile, the cause of the fire remain under investigation, with fire authorities saying a full investigation will begin once the blaze has been fully extinguished. 2026-07-19 09:47:16 -
Woori Financial Group Focuses on Customer Growth and Profitability Woori Financial Group has revamped its management strategy for the second half of the year, focusing on expanding its customer base and improving profitability. The plan aims to strengthen banking operations and enhance non-bank competitiveness to establish a foundation for sustainable growth.On July 16, Woori Financial held a 'Mid-Year Management Strategy Workshop' at its headquarters in Hoehyeon-dong, Seoul, attended by Chairman Im Jong-ryong, representatives from 16 subsidiaries including banking, securities, and insurance, as well as executives from the holding company.The workshop featured discussions centered on 'customer expansion,' where strategies for customer management and synergy strategies for transaction diversification among major subsidiaries were explored.Chairman Im emphasized that acquiring new customers, retaining existing ones, and diversifying customer transactions are key agendas in the long-term management plan, stating, "Customer acquisition is the value of a financial group and the foundation of its growth."He also noted, "Consumer protection should be pursued with the understanding that it is a promise to customers and the market, focusing on prevention." He urged the implementation of four key tasks: adhering to best practices in financial consumer protection governance, preventing financial crimes such as voice phishing, avoiding the mis-selling of complex financial investment products, and eradicating unhealthy sales practices in insurance products.For the second half of the year, the core tasks include recovering bank profitability and strengthening non-bank competitiveness. Specifically, he called for enhancing key operational drivers such as core deposits, corporate finance, and asset management, while ensuring cost competitiveness to secure a stable revenue base.Regarding the non-bank sector, he stated that it is crucial for diversifying the group's revenue base and advancing into a comprehensive financial group. Each subsidiary will work to enhance its core business competitiveness and strengthen its market position. This approach aims to improve the bank-centered revenue structure and expand a stable revenue base at the group level. 2026-07-19 09:40:00 -
HD Hyundai Partners with Kiewit to Enhance Shipbuilding Collaboration in the U.S. HD Hyundai is expanding its shipbuilding collaboration in the United States.On July 19, HD Hyundai announced that it has signed a strategic partnership with Kiewit, a major U.S. EPC company, to collaborate on shipbuilding projects.The signing ceremony took place at Kiewit Offshore Services' headquarters in Corpus Christi, Texas, attended by Choi Han-nae, Executive Vice President of HD Korean Shipbuilding, and Chad Johnson, CEO of Kiewit Offshore, along with executives and representatives from both companies.Kiewit is one of the largest integrated construction, engineering, and infrastructure firms in the U.S., known for its strengths in large EPC projects in power, energy, marine, and industrial facilities. The company has a strong track record in the production, installation, and commissioning of various large marine structures, particularly in North America and South America, including Brazil.Under the partnership, the two companies will seek to jointly build ships in the U.S. and collaborate on the production of ship blocks and modules. They plan to combine HD Hyundai's design, equipment supply chain, and construction technology with Kiewit's local manufacturing and construction capabilities to jointly pursue business opportunities in the U.S. and promote local production of ship blocks and modules.An HD Hyundai official stated, "We plan to actively support the U.S. efforts to rebuild its shipbuilding industry through our collaboration with Kiewit. In the future, we will also expand our cooperation into the FDC sector, seeking business opportunities in the rapidly growing North American infrastructure market."FDC refers to next-generation infrastructure that operates data centers by installing floating structures at sea, which is gaining attention as a solution to land shortages and large-scale power and cooling issues. With the surge in demand for data centers driven by AI expansion, the related market in the U.S. is expected to grow rapidly.Meanwhile, HD Hyundai has been actively pursuing various collaborative projects in the U.S., having signed MOUs with Huntington Ingalls and Edison Chouest Offshore (ECO) for shipbuilding in the U.S. in April and June of last year.* This article has been translated by AI. 2026-07-19 09:28:00 -
Hyundai Department Store Launches First Global Advisory Board to Enhance Shopping Experience for Foreign Customers Hyundai Department Store has launched the industry’s first 'Global Advisory Board' to enhance the shopping experience for foreign customers. The initiative aims to move away from a one-sided service model and involve foreign customers directly in the improvement process. On July 19, Hyundai Department Store announced the operation of a 'Global CX Advisor' composed of foreign customers. This board will allow foreign individuals to visit stores and provide feedback on inconveniences and suggestions for improvement. This is the first time a department store has established a foreign advisory board. Recently, the three major department stores in South Korea—Lotte, Shinsegae, and Hyundai—reported record foreign sales in the first half of the year, targeting a 3 trillion won annual market. As the consumer landscape shifts from group tourists to individual travelers, the retail industry is focusing on introducing tailored services to extend their stay. To capitalize on this trend, Hyundai Department Store selected five foreign advisors from four countries: one each from China and Taiwan, two from Japan, and one from Senegal. The average age of the advisors is 29, and all are women. The decision to form the advisory board primarily with women in their 20s and 30s reflects the actual composition of foreign customers. In the first half of this year, 70% of foreign customers who made purchases at Hyundai Department Store were in their 20s and 30s, with women making up 81% of that group. A Hyundai Department Store representative stated, “The advisory board was selected to hear candidly about the inconveniences foreign customers face and their expectations from the department store, as they have a high interest in Korean culture and a good understanding of domestic shopping trends.” The inaugural advisory board will assess five stores with high foreign visitor rates, including the Apgujeong flagship store, Trade Center branch, The Hyundai Seoul, Hyundai Outlet Dongdaemun, and Hyundai Premium Outlet Gimpo, by early September. The advisors will experience various situations that foreign tourists may encounter, such as making purchases, attending events, using facilities, and reporting lost items. They will compile their findings into a report for the CX planning team at Hyundai Department Store and discuss improvement strategies through in-depth interviews. Hyundai Department Store aims to identify specific 'pain points' that foreign customers experience and incorporate this feedback into their operations. Last June, Hyundai Department Store introduced an AI shopping assistant named 'Heidi' that is accessible to foreign customers. Heidi provides information in 11 languages about pop-up stores, restaurants, exhibitions, and promotional events. At The Hyundai Seoul, 30% of Heidi users are foreign customers. Recently, the store has also launched 'Heidi Global,' which translates conversations between customers and staff in real-time. Partnerships with Thailand's Siam Piwat Group, Japan's Hankyu Department Store, and Singapore's Marina Bay Sands have expanded services for foreign customers visiting The Hyundai Seoul and Trade Center branches to VIP levels in their home countries. A Hyundai Department Store representative remarked, “We will actively incorporate the insights gathered from the advisory board into the shopping environment and overall service. Based on the results of this first phase, we plan to upgrade the operation of the second Global CX Advisor in terms of scale and diversity of participants.”* This article has been translated by AI. 2026-07-19 09:24:00 -
Single-Person Households Accelerate 'Money Move' from Savings to Investments Funds from single-person households are rapidly shifting from safe assets to investments. The proportion of investments in stocks and exchange-traded funds (ETFs) has increased, while the use of loans for investment has also risen.According to the '2026 Report on Single-Person Households in Korea' released by KB Financial Group on July 19, the share of savings accounts (28.3%) among single-person households has decreased by 7.8 percentage points compared to two years ago. In contrast, investments in stocks and ETFs (21.1%) increased by 6.1 percentage points, and virtual assets (3.5%) rose by 1.3 percentage points.The trend of increasing 'debt investment' was also confirmed. The percentage of loan holders who have invested in financial products using loans (34.0%) is up 5.2 percentage points from 28.8% in 2024. This shift is interpreted as a result of the unprecedented rise in the stock market this year, prompting single-person households to actively move their funds from safe assets to investment assets.Investment experiences using loans showed significant gender differences. Men reported a 42.4% experience rate, double that of women at 21.7%. Among men, the experience rate exceeded 30% across all age groups, with the highest at 49.6% among those in their 20s. Conversely, women did not surpass 25% in any age group.KB Financial's Management Research Institute noted, "The use of leverage for investment is more prevalent among men than across all single-person households. As investment accompanied by loans expands, the risk for single-person male households may increase."Additionally, 59.6% of single-person households reported engaging in side jobs, a significant increase from 42.0% in 2022. Most cited 'voluntary reasons' (79.5%) for taking on side jobs, with the primary motivation being to prepare for emergencies or savings (40.4%), indicating a focus on future planning rather than immediate survival. Notably, those managing multiple side jobs exhibited more proactive and confident attitudes towards marriage, retirement, self-development, and overall asset management.As living alone becomes the new norm in Korean society, consumption patterns, leisure activities, and dietary habits are also changing. Single-person households continue to prioritize cost-effectiveness and personal preferences in their spending while actively choosing premium foods that consider health and leisure activities enjoyed alone.Satisfaction with their current lives among single-person households stands at 73.5%, with 58.3% expressing a desire to continue this lifestyle. Preferences for leisure activities show a strong inclination towards solitary enjoyment (52.2%), significantly outpacing those who prefer shared experiences (30.0%) or activities with others (17.8%), reflecting a lifestyle that embraces and enjoys time spent alone. 2026-07-19 09:20:00 -
Hanwha Philly Shipyard Wins U.S. Missile Test Vessel Contract Hanwha Group's Philadelphia shipyard has secured a contract to build maritime missile test vessels for the U.S. Missile Defense Agency (MDA).On July 19, Hanwha Philly Shipyard announced that it has been selected as the vessel manufacturer for the MDA's maritime missile test instrumentation vessel (MRIV) in partnership with U.S. ship management company TOTE Services.The MRIV will support missile flight tests by tracking trajectories, collecting telemetry data, and analyzing communications and test results.Hanwha Philly Shipyard will handle the construction of the vessels, while TOTE Services will serve as the vessel construction manager (VCM). The first vessel is expected to be delivered in 2030. Although Hanwha did not disclose specific contract details, maritime industry publication Maritime Executive reported that the project involves an investment of $2 billion for the construction of two vessels.Russell Boat, director of the White House Office of Management and Budget (OMB), stated at a local event, "This new vessel will not only support the President's policy to restore U.S. maritime dominance but also bolster the 'Iron Dome' missile defense system across the country."The Iron Dome project is a next-generation air missile defense system prioritized by the Trump administration as a key component of U.S. homeland defense. The Philly shipyard plans to leverage its established production lines and supply chains, validated through previous contracts for National Security Multi-Mission Vessels (NSMV), to successfully construct the MRIV.This MRIV contract is seen as a significant step for Hanwha Group in expanding its presence in the Korea-U.S. shipbuilding cooperation project known as 'MASGA.' The Philly shipyard is the only U.S. shipyard owned by a Korean company.Recently, President Donald Trump mentioned the Philly shipyard, stating, "Many vessels will be built there," and indicated that he is considering purchasing vessels separately from companies that build ships in the U.S.The U.S. Department of Defense has also sent a request for information (RFI) regarding combat ship design and construction capabilities to Hanwha Ocean and HD Hyundai Heavy Industries. The two countries have agreed to allocate $150 billion of a $350 billion investment in shipbuilding cooperation. A Korea-U.S. Shipbuilding Cooperation Center is set to open in Washington, D.C., on July 23.Industry experts anticipate that this project will serve as a positive reference for future contracts related to U.S. Navy auxiliary ships, special-purpose vessels, and maintenance and repair operations (MRO). 2026-07-19 09:08:00 -
Seoul Launches Night Economy Strategy to Boost Growth The competitive landscape among global cities is evolving. The competition is no longer confined to the 12 hours of daylight; the ability to generate production and consumption after sunset is becoming a new benchmark for urban competitiveness. London already sees about a quarter of its urban economy operating at night. Sydney is implementing a national '24-hour economy strategy,' while Singapore has integrated late-night culture and tourism into its national tourism strategy. Tokyo is also extending the stay of international tourists through its vibrant late-night entertainment, shopping, and dining scenes. In this global context, Seoul has become the first city in South Korea to prominently feature 'Night Time Economy' as a key urban growth strategy. On July 15, during the first regular meeting of the 9th elected administration, the Seoul city government adopted the revitalization of the night economy as a core agenda item and began formulating a comprehensive plan that connects culture, tourism, commercial districts, transportation, and safety. Oh Se-hoon, the mayor of Seoul, described the night economy as a new growth strategy that connects culture, tourism, commercial districts, and transportation into a single ecosystem, aimed at transforming citizens' leisure culture and enhancing urban consumption and vitality. This initiative goes beyond merely increasing nighttime festivals or tourism products; it represents a paradigm shift in converting the city's sleeping hours into economic activity. The '2026 Night Economy Report' released by the World Economic Forum estimates the global night economy to be worth between $3 trillion and $4 trillion annually, accounting for about 3% of global GDP. It also indicates that one in ten people employed worldwide is directly or indirectly connected to the night economy. The report evaluates the night economy not just as a nightlife or club industry but as a vast urban economic ecosystem that combines performances, tourism, accommodation, dining, transportation, safety, cultural content, and creative industries.A prime example is London.According to the London Nightlife Taskforce report released this year, the city's night economy generates over £139 billion (approximately $260 billion) annually and supports more than one million nighttime workers. The London city government operates an independent nightlife taskforce to manage policies related to venue preservation, late-night transportation, licensing improvements, noise conflict resolution, and safety management. Sydney, Australia, is also enhancing its urban competitiveness through a '24-hour economy strategy' led by the New South Wales government, which promotes late-night public transport, the entertainment industry, small business support, and regulatory relief as a package. Recently, Australian cities have been competitively fostering the night economy as a key growth driver, with major cities like Brisbane expanding late-night transport and regulatory innovations. Singapore is extending tourist spending hours into the night by combining late-night performances, media art, and culinary tourism around Marina Bay, Clarke Quay, and Jewel Changi Airport. Tokyo has similarly built its 'city that never sleeps' brand by linking shopping, performances, and food culture with late-night tourism in areas like Ginza, Shinjuku, and Shibuya. Seoul is now looking in the same direction. The city government has recognized that despite possessing world-class tourist attractions like DDP, Gwanghwamun Square, the Han River, and Namsan, there has been a lack of structure connecting tourists' stay times to consumption in local commercial districts. To address this, DDP, Gwanghwamun Square, Namsan, and Han River Park will be designated as 'Night Economy Coexistence Zones,' providing incentives for nighttime operations and supporting late-night public transport as a package. The 'Seoul Moonlight Night Market' will be piloted in five locations this year, with plans to expand to 25 locations by 2028. Additionally, the city will increase nighttime openings for museums, galleries, and palaces, and is considering expanding late-night bus services and introducing autonomous late-night transport. A key feature of this policy is its implementation framework. Seoul has formed a joint task force involving seven departments, including the Planning and Coordination Office, Economic Office, Cultural Headquarters, Transportation Office, Public Relations Planning Office, Tourism and Sports Bureau, and the Civil Affairs and Labor Bureau, led by the Night Economy Special Advisor. This signifies that the night economy will not be treated as a mere event by a specific department but as a core municipal agenda encompassing urban planning, economy, culture, transportation, and safety. Mayor Oh plans to personally oversee the night economy for at least the next six months, driven by a sense of urgency regarding the livelihood economy. The strategy aims to revitalize small businesses and self-employed individuals, which make up about 90% of all businesses in Seoul, and to create new job opportunities in the cultural and tourism sectors that may be threatened by the spread of AI. The cultural and tourism industry is estimated to have a job creation effect three to five times greater than that of manufacturing. Extending tourists' stay into the night can lead to increased consumption across various sectors, including performances, exhibitions, dining, accommodation, transportation, security, cleaning, and content creation. Cities around the world are already viewing nighttime as an asset rather than a cost. London has developed nighttime as a pillar of urban production, Sydney is promoting a 24-hour economy as a national strategy, and Singapore and Tokyo are leveraging nighttime tourism as a competitive advantage for their city brands. Seoul is also actively working to establish a 'Seoul-style Night Economy Model' that integrates culture, tourism, local commercial districts, transportation, and safety. The reason Mayor Oh chose the night economy as a core agenda item during the first meeting of the 9th elected administration is to declare a shift in Seoul's future growth engine from a 'daytime city' to a '24-hour vibrant city.' 2026-07-19 09:04:00 -
England Defeats France 6-4 to Secure Third Place at 2026 World Cup England triumphed over France in a thrilling 6-4 match to finish third in the 2026 FIFA World Cup.On July 19, in Miami, Florida, England secured the victory in the third-place playoff against France.This marks England's best World Cup performance since winning the tournament on home soil in 1966, a 60-year gap.Despite leaving key players Harry Kane and Jude Bellingham out of the starting lineup, England took control early in the match. Declan Rice scored the opening goal just three minutes in with a long-range shot.Building on their momentum, England doubled their lead in the 18th minute when Ezri Konsa headed in a corner kick from Rice, making it 2-0. Bukayo Saka then scored two goals in quick succession in the 37th minute and stoppage time, ending the first half with a commanding 4-0 lead.In the second half, England faced a fierce comeback from France. Kylian Mbappe scored a goal for France just three minutes in, followed by goals from Bradley Barcola and Mbappe again, narrowing the score to 4-3.Under pressure, England managed to score a crucial fifth goal in the 42nd minute when Saka converted a penalty kick, completing his hat trick.Although England conceded a goal to Ousmane Dembélé in the 46th minute, Bellingham, who had been substituted in, sealed the match with a final goal, concluding the high-scoring affair at 6-4.This match set a record for the most goals scored in a World Cup third-place playoff, surpassing the previous record of nine goals set in the 1958 tournament between France and West Germany (France won 6-3).Despite the loss, France's star forward Mbappe made history by scoring two goals and providing one assist, bringing his total World Cup goals to 22. He surpassed Lionel Messi (Argentina, 21 goals) to become the all-time leading scorer in World Cup history.Additionally, with 10 goals and 4 assists in this tournament alone, Mbappe became the first player to score double digits in a single World Cup since Gerd Müller (West Germany, 10 goals) in 1970.Currently leading the scoring chart, Mbappe's chances of winning the Golden Boot for the second consecutive tournament will depend on the outcome of the final match between Spain and Messi, who is in second place with 8 goals and 4 assists.* This article has been translated by AI. 2026-07-19 08:44:00 -
First U.S. Soldier Killed in Direct Attack by Iran Amid Escalating Conflict Amid escalating military conflict between the United States and Iran, two U.S. soldiers were killed and one is missing following an Iranian missile and drone attack. This marks the first instance of U.S. casualties from a direct Iranian attack since the war began, raising concerns about further deterioration in the Middle East situation.According to Yonhap News on July 19, U.S. Central Command reported that on July 17, two U.S. soldiers stationed in Jordan were killed and one went missing while defending against Iranian ballistic missile and drone attacks.While the Central Command did not disclose the exact location of the attack, foreign media outlets suggest it targeted a U.S. Air Force base in Jordan. The dpa news agency speculated that the Azraq Air Base, located about 100 kilometers northeast of the capital Amman, was the site of the attack.This incident marks the first combat-related death of a U.S. soldier since the outbreak of war in February. According to the Associated Press, the total number of U.S. military deaths since the conflict began has now reached 16, with injuries exceeding 430. However, the significance of this being the first death caused by a direct Iranian attack cannot be understated.Notably, a memorandum of understanding (MOU) for ceasefire between the U.S. and Iran effectively lost its validity after Iran attacked civilian vessels in the Strait of Hormuz on July 7. Following this, the U.S. conducted airstrikes on Iranian military facilities near the Strait of Hormuz for seven consecutive days, while Iran responded with missile and drone attacks targeting U.S. bases in allied countries, including Jordan, Qatar, Kuwait, and Saudi Arabia, escalating tensions further.The news of the U.S. military casualties is expected to pose a significant political burden for President Donald Trump, especially as anti-war sentiment grows in the U.S. Conversely, there may be increased calls for retaliation against Iran, potentially leading to intensified U.S. airstrikes.Additionally, Central Command reported that four injured U.S. soldiers were transported to a local hospital in Jordan, where they received treatment and have since been discharged, while other personnel with minor injuries have already returned to duty.The identities of the deceased soldiers will not be released until 24 hours after their families have been notified, according to Central Command.* This article has been translated by AI. 2026-07-19 06:20:00 -
Iran Hardliners Accuse Moderates of Attempting 'Soft Coup' Amid Supreme Leader's Absence As Mojtaba Khamenei, Iran's Supreme Leader, remains absent from public view, hardliners are alleging that moderates leading current negotiations with the U.S. are attempting a 'soft coup,' CNN reported on July 18. Some have even called for the capture of U.S. troops while continuing the war against the U.S. and Israel.According to the report, the so-called 'soft coup' theory has gained traction among hardliners in recent months. They allege that the moderates are seeking to seize power by agreeing to peace negotiations with the U.S. and Israel without avenging the death of former Supreme Leader Ayatollah Ali Khamenei, who they claim was killed in an attack. Hardliners emphasize that any agreement with the U.S. does not reflect Mojtaba Khamenei's wishes and amounts to submission to American demands.During the funeral of the former Supreme Leader, there were attempts to lynch politicians perceived as negotiators. At the funeral held in Tehran since July 4, some mourners shouted, 'Death to the compromisers' upon seeing Iranian President Ebrahim Raisi, while others hurled stones at Foreign Minister Abbas Araghchi, calling him a 'traitorous sellout.' Araghchi had to seek refuge during the ceremony.Some hardline politicians have directly mentioned the term 'coup.' Radical lawmaker Seyyed Mahmoud Nabavian posted on social media platform X (formerly Twitter) at the end of last month, warning, 'Is a coup approaching for the Iranian people?' On July 17, he also stated, 'Talking about peace during wartime is surrendering to the U.S. regime.' Nabavian is noted for leaking details of the U.S.-Iran agreement to the media, which was seen as an attempt to derail negotiations.Another hardliner, Kamran Ghalibaf, accused the negotiators in a video statement earlier this month of diminishing the roles of the Supreme Leader and the parliament while enhancing the authority of the Supreme National Security Council. He labeled this as a political coup that the negotiators are planning and executing step by step.Former Foreign Minister Manouchehr Mottaki recently suggested in a TV interview that capturing hundreds or thousands of U.S. troops stationed in the Gulf region would be beneficial, claiming that even capturing just 100 would suffice to bring them to Iran.The primary reason for the hardliners' discontent, as they raise the coup narrative, is their inability to contact Mojtaba Khamenei. Arash Azizi, author of 'What Iranians Want,' told CNN, 'Mojtaba's continued absence means that hardliners cannot access the Supreme Leader, and Ghalibaf and his political allies are effectively controlling the country.' He added that hardliners accuse Ghalibaf and Raisi of plotting a 'coup' against Mojtaba.In related developments, the U.S. and Iran have intensified their missile and drone attacks over the weekend. According to The New York Times, U.S. forces have targeted Iranian surveillance facilities, military installations, and underground weapon depots. Iranian state media reported that U.S. attacks have hit bridges, roads, and desalination facilities. Additionally, Iran has reportedly attacked power plants and refineries in Kuwait.* This article has been translated by AI. 2026-07-19 05:04:00


