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  • New Listing Temporarily Halted, Deposit Requirement Raised to 30 Million Won
    New Listing Temporarily Halted, Deposit Requirement Raised to 30 Million Won New Listing Temporarily Halted, Deposit Requirement Raised to 30 Million WonRecently announced measures to address the volatility attributed to single stock leverage include an immediate halt to the listing of new products, including inverse and covered call options. The financial authorities have decided to raise the basic deposit requirement from 10 million won to 30 million won, mandating that the entire amount be paid in cash starting around August 5. Additionally, they will implement stricter entry barriers for single stock leverage investments by enhancing investor education and increasing the trading unit size.On July 16, the financial authorities announced these measures following a market situation review meeting chaired by the Deputy Prime Minister at the National Bank Association headquarters.Hanwha Aerospace Selected for Military Multipurpose Drone ProjectHanwha Aerospace has been selected as the preferred bidder for the military multipurpose vehicle project.On July 16, the Defense Acquisition Program Administration held a meeting of the Defense Acquisition Planning and Management Committee, where it finalized the selection of Hanwha Aerospace's Arion Smet as the model for the multipurpose unmanned vehicle project.The multipurpose unmanned vehicle is designed to perform various missions, including surveillance, reconnaissance, and logistics support for infantry units. It is considered a key asset in the Army's future combat system, known as Army TIGER 4.0.TSMC Raises Q3 and Annual Guidance Amid Strong AI DemandTSMC, the world's largest semiconductor foundry, has raised its guidance for the third quarter and the full year following strong second-quarter results.On July 16, Chinese media, including Tonghua Shun, reported that TSMC projected its third-quarter revenue guidance to be between $44.6 billion and $45.8 billion, exceeding market expectations of $43.11 billion. The gross profit margin guidance for the third quarter is estimated at 65% to 67%, aligning with the midpoint of market expectations, while the operating profit margin guidance is set at 56% to 58%, above the anticipated 57.7%.Shinan Uwi Offshore Wind Project Begins Construction with 3.4 Trillion Won InvestmentThe Shinan Uwi offshore wind project, a large-scale initiative funded entirely by domestic capital, is set to commence.On July 16, the Ministry of Climate, Energy, and Environment held a groundbreaking ceremony for the Shinan Uwi offshore wind project at the Shinan National Sports Center in Jeonnam Province. This project aims to establish a 390 MW offshore wind power generation complex southeast of Uido in Shinan County. The total project cost is approximately 3.4 trillion won, with commercial operations targeted to begin in January 2029.This initiative marks the first large-scale offshore wind project in South Korea funded entirely by domestic capital. It will also be the first project in the country to install 15 MW turbines, consisting of 26 turbines expected to generate about 1,062 GWh of electricity annually, enough to power approximately 300,000 households.Supreme Court Confirms Two-Year Sentence for Kwon Seong-dong, Resulting in Loss of Parliamentary SeatThe Supreme Court has upheld a two-year prison sentence for Kwon Seong-dong, a member of the People Power Party, for receiving illegal political funds from the Unification Church. As a result, Kwon has immediately lost his parliamentary seat under the National Assembly Act and the Public Election Act.On July 16, the Supreme Court's second division, led by Justice Eom Sang-pil, confirmed the original ruling of two years in prison and a fine of 100 million won for Kwon, who was indicted for violating the Political Fund Act. This final ruling comes nine months after the special prosecutor's team filed charges against him, leading to his immediate disqualification from office.* This article has been translated by AI. 2026-07-16 22:04:00
  • Turkey: Ukraine War Must Not Spread to the Black Sea
    Turkey: Ukraine War Must Not Spread to the Black Sea Turkey's Foreign Minister Hakan Fidan emphasized that the war between Russia and Ukraine must not spread to the Black Sea.According to Yonhap News on July 16, Fidan made the remarks during a joint press conference after meeting with Ukrainian Foreign Minister Dmytro Kuleba in Kyiv. He stated, "Concerns are growing over the escalation of the conflict as situations threatening Black Sea security continue to arise."He added, "Attacks on ports, tankers, and fishing vessels that threaten civilian lives are unacceptable," urging all parties to act with common sense and responsibility.As hostilities between Russia and Ukraine have intensified, incidents of attacks on commercial vessels traveling through the Black Sea and the Sea of Azov have increased. Turkey, which connects the Black Sea and the Mediterranean through the Bosporus Strait, actively trades with countries along the Black Sea.Fidan also stated that Russia and Ukraine should continue their peace talks in Istanbul, Turkey, in the same manner. He emphasized that security guarantees for Ukraine are the most crucial element in the peace negotiations.Regarding the NATO summit held in Ankara on July 7-8, he assessed that "NATO allies have clearly expressed their commitment to ongoing support for Ukraine."* This article has been translated by AI. 2026-07-16 21:48:00
  • Xi Jinping Proposes AI Technology Sharing with Kazakhstan, Expanding AI Diplomacy
    Xi Jinping Proposes AI Technology Sharing with Kazakhstan, Expanding 'AI Diplomacy' Chinese President Xi Jinping met with Kazakhstan's President Kassym-Jomart Tokayev in Shanghai, where the World Artificial Intelligence Conference (WAIC) is taking place, to propose cooperation in artificial intelligence (AI) and the digital economy.According to Yonhap News on July 16, Xi held talks with Tokayev at the Shanghai Xijiao Hotel during the '2026 WAIC and AI Global Governance High-Level Meeting.'Xi stated, "China is willing to share its digital economy and AI technologies to support Kazakhstan's digital transformation."He also emphasized the need to improve trade structures and expand cross-border e-commerce and service trade. Xi proposed increasing direct flight routes and enhancing cooperation in energy, minerals, education, science and technology, healthcare, sports, and media.In response, Tokayev expressed his expectations for expanded cooperation in trade, investment, transportation, energy, agriculture, and the digital economy. He also voiced support for Xi's proposed global initiatives and the concept of a community with a shared future for humanity, as reported by the Chinese Foreign Ministry.China is continuing high-level diplomacy focused on AI and the digital economy with friendly nations in conjunction with the WAIC, which runs from July 17 to 20.The WAIC, held in Shanghai since 2018, is a major AI event in China where global companies, experts, and government officials discuss the latest technologies, industry trends, and AI governance.On the same day, Chinese Premier Li Qiang met with Cambodian Prime Minister Hun Manet at the Great Hall of the People in Beijing.Li pledged to support Chinese investments in Cambodia and proposed cooperation in new energy, AI, the digital economy, and advanced manufacturing. Prime Minister Manet expressed his intent to collaborate in trade, investment, infrastructure, new energy, and connectivity.According to the organizers, this year's WAIC will feature over 3,000 products from more than 1,100 companies in an exhibition space exceeding 100,000 square meters, with about 300 of these being world premieres.China is expanding its cooperation network based on its technologies by incorporating AI and the digital economy into its existing trade, infrastructure, and energy-focused foreign collaborations.* This article has been translated by AI. 2026-07-16 21:36:00
  • Police Seek Arrest Warrant for Woman Accused of Disrupting Vote Counting
    Police Seek Arrest Warrant for Woman Accused of Disrupting Vote Counting Police have applied for an arrest warrant for a woman who allegedly obstructed access to a vote counting center at Olympic Park last month.According to Yonhap News on July 16, the Songpa Police Station in Seoul has requested a pre-arrest warrant for the woman, identified as A, on charges of obstruction of duty.The prosecution also filed for the warrant around 6 p.m. that day. The Seoul Eastern District Court is scheduled to hold a pre-arrest hearing on July 21 at 2:30 p.m.A is accused of blocking access to the handball arena, which served as a vote counting center, for about two hours on June 16 after protesters and the People Power Party's leader, Jang Dong-hyuk, reached an agreement to enter the facility. Despite attempts by Jang and Yoo Seung-min, president of the Korean Sports Council, to persuade her, A reportedly refused to open the door, insisting that procedures to secure the ballots and ballot boxes must be completed first.Some hardline conservative communities have referred to A as 'Oldark,' a shorthand for 'Olympic Park Joan of Arc.'Police began their investigation on June 17 and summoned A for questioning as a suspect on July 10.Additionally, police have applied for an arrest warrant for a man in his 30s among five suspects accused of illegally searching the junior women's handball team that entered the handball arena on June 8.On June 6, three men in their 20s were also charged with obstructing police duties after blocking officers' paths and insulting them as 'Chinese police' at the vote counting center. Pre-arrest warrants have been requested for them as well.Three suspects accused of damaging the entrance door to the machine room at the handball arena and trespassing on June 7 were sent to prosecutors without detention.The police stated, 'We plan to conduct a strict investigation into illegal activities at the Olympic Park vote counting center in accordance with the law and principles.'* This article has been translated by AI. 2026-07-16 20:48:00
  • Japan Secures 27,500 NVIDIA GPUs for Physical AI Development
    Japan Secures 27,500 NVIDIA GPUs for Physical AI Development The Japanese government is set to acquire a large number of NVIDIA's advanced graphics processing units (GPUs) to develop manufacturing-focused 'physical AI.'According to a report by Yonhap News, citing the Nihon Keizai Shimbun, Japan's Ministry of Economy, Trade and Industry announced plans to procure approximately 27,500 units of NVIDIA's cutting-edge AI semiconductor, 'Rubin,' during a visit by NVIDIA CEO Jensen Huang.The Nikkei reported that this procurement is the largest of its kind at a national level globally. In comparison, South Korea has secured 260,000 advanced GPUs from NVIDIA, known to be the previous model, Blackwell.The Japanese government plans to utilize the acquired GPUs in the development of the sovereign AI project 'Noetra,' which involves 44 companies, including SoftBank Group, NEC, Honda, and Sony Group.A total of 387.3 billion yen (approximately $3.7 billion) will be invested in the Noetra project this year, with a total of 1 trillion yen (about $9.5 billion) allocated over the next five years.A large data center equipped with NVIDIA GPUs will be established on the site of the former Sharp factory in Sakai City, Osaka Prefecture. The developed Noetra will be distributed to Japanese companies for application in manufacturing sites.The Japanese government is focusing on specialized areas in the industrial sector, such as industrial robots and robotics, utilizing manufacturing data instead of general-purpose AI models.A research organization involving 13 institutions, including Tokyo University of Science, the University of Cambridge, and the University of Oxford, will also be established. This organization will research five areas, including image and video generation and human-robot collaboration.NVIDIA will collaborate with Fujitsu, Fanuc, Yaskawa Electric, and Kawasaki Heavy Industries to commercialize physical AI in manufacturing, distribution, and healthcare sectors.NVIDIA will provide semiconductor technology for AI agents and robotics, while Fujitsu will handle the physical AI operating system (OS).CEO Huang stated, "Currently, robots operate in specific fields, but there are limitations in applying them across various manufacturing sites. To develop robotics technology that can be utilized in multiple small manufacturing environments, collaboration with Japan's manufacturing sector is essential."NVIDIA plans to jointly develop automotive manufacturing robots with Toyota and expand AI and robotics technology collaboration with Honda, Mitsubishi Heavy Industries, and Hitachi.* This article has been translated by AI. 2026-07-16 20:36:00
  • U.S. Expands Airstrikes into Irans Interior, Targets Tankers
    U.S. Expands Airstrikes into Iran's Interior, Targets Tankers The United States has expanded its airstrike operations from Iran's southern coast to include areas around the capital, Tehran, and its interior. The U.S. also targeted tankers attempting to breach a maritime blockade, disrupting their operations.According to Yonhap News and Iran's IRNA news agency, several strong explosions were heard early on July 16 in the western Iranian provinces of Lorestan, Markazi, and Semnan.These regions are home to Iran's ballistic missile production facilities and space program-related sites. Local officials believe the explosions were caused by U.S. attacks, with a Semnan official stating, "Semnan Airport was hit by U.S. strikes."Around the same time, air defense systems were activated in Parchin, located about 30 kilometers southeast of Tehran. Parchin is suspected of housing missile development and nuclear facilities.However, the Islamic Revolutionary Guard Corps (IRGC) clarified that Parchin was not attacked and that the activation of air defense systems was a precautionary measure.The U.S. military has also intensified its maritime blockade. U.S. forces fired at the Belmah, a tanker heading to Kharg Island, Iran's main oil export terminal in the Persian Gulf.When the Belmah ignored warnings and continued its course, U.S. aircraft fired a missile at the ship's smokestack, disabling its movement.In response, Iran launched missiles and drones targeting U.S. bases in neighboring countries, including Bahrain, Jordan, and Kuwait. The attacked nations have not reported any casualties or damage. A nighttime drone attack also targeted Erbil in Iraq's northern Kurdish region, which was strongly condemned by Iraqi Prime Minister Ali Alzaidi, who is currently visiting the U.S.In light of warnings from U.S. President Donald Trump to strike Iran's bridges and power plants, the Iranian military has threatened to target all infrastructure in the Middle East.* This article has been translated by AI. 2026-07-16 20:20:00
  • TSMC Reports Record Q2 Profit of $32.5 Billion Driven by AI Chip Demand
    TSMC Reports Record Q2 Profit of $32.5 Billion Driven by AI Chip Demand The world's largest foundry, Taiwan's TSMC, reported a record net profit for the second quarter of this year, driven by increased demand for artificial intelligence (AI) chips.According to Yonhap News on July 16, TSMC's net profit for the second quarter (April to June) reached 706.6 billion New Taiwan dollars (approximately $32.5 billion), a 77% increase from the same period last year.This marks the ninth consecutive quarter of double-digit net profit growth for TSMC. The company's earnings significantly surpassed the market forecast of 632.6 billion New Taiwan dollars (about $29.1 billion), based on estimates from 18 analysts compiled by financial information provider LSEG.On July 13, TSMC announced that its consolidated revenue for the second quarter rose 36% year-on-year to 1.27 trillion New Taiwan dollars (approximately $58.6 billion), also exceeding market expectations and setting a new record.TSMC anticipates continued demand for AI chips and has raised its performance and investment outlook for the year.The revenue forecast for the third quarter is projected to be significantly higher than last year's $33.1 billion, estimated between $44.6 billion and $45.8 billion (approximately $65.8 billion to $67.6 billion). The annual revenue growth forecast has also been increased from the previous 30% range to 40%.The annual capital expenditure forecast has been raised from the previous $50 billion range to between $60 billion and $64 billion (approximately $88.7 billion to $94.6 billion). This capital expenditure outlook is seen as a key indicator of management's confidence in the sustainability of AI demand.Wendell Huang, TSMC's Chief Financial Officer, stated after the earnings announcement, "Our confidence in the AI megatrend is very strong," adding that investments over the next three years will be significantly higher than in the past three years.TSMC also announced plans for additional investments to expand semiconductor production capacity in the United States. Chairman Mark Liu mentioned during the earnings conference call that the company plans to invest an additional $100 billion (approximately $147.8 billion) in Arizona, a decision aimed at supporting strong long-term demand from major U.S. customers.Liu added, "We believe this investment will promote the development of the U.S. semiconductor ecosystem, strengthen the supply chain, and help expand high-wage jobs in advanced technology sectors in the U.S."Last March, TSMC announced plans to invest a total of $165 billion (approximately $243.8 billion) to establish wafer fabrication plants, packaging facilities, and research and development centers in the U.S.With this additional investment, TSMC's total investment in the U.S. will reach $265 billion (approximately $391.7 billion).The market is seeing strong demand for TSMC's 3-nanometer and 2-nanometer process technologies used in AI chips, as well as robust demand for advanced semiconductor packaging technology known as Chip on Wafer on Substrate (CoWoS).TSMC, which counts NVIDIA and Apple among its major customers, plays a crucial role in producing advanced semiconductors used in NVIDIA's AI accelerators.Thanks to this growth, TSMC, the largest company by market capitalization in Asia, has seen its market value swell to approximately $1.97 trillion (about 2,921 trillion won). Reuters reported that TSMC's market capitalization is about double that of its global competitor Samsung Electronics, which stands at around 1,492 trillion won.* This article has been translated by AI. 2026-07-16 20:04:00
  • New Regulations Increase Barriers for Single-Stock Leverage Products
    New Regulations Increase Barriers for Single-Stock Leverage Products In an effort to address the 'asymmetric regulations' that allow overseas purchases but restrict domestic ones, the Financial Services Commission (FSC) has reintroduced high entry barriers for single-stock leverage products less than two months after their launch. The regulatory body has shifted its focus to significantly enhancing investor protection in response to the unexpectedly rapid growth and volatility in the market.On July 16, the FSC announced supplementary measures for single-stock leverage products, including a temporary suspension of new product listings until market stability is achieved. The basic deposit requirement will increase from 10 million won to 30 million won, and the recognition of substitute securities will be abolished.Single-stock leverage products were a key initiative outlined in the government's capital market reform plan announced on March 18. At that time, the FSC aimed to introduce single-stock and leverage products, as well as derivative and active products, which are traded overseas but banned domestically, to attract 'overseas retail investors' and enhance market accessibility for both domestic and foreign capital.Indeed, leverage products for Samsung Electronics and SK Hynix were first listed on the Hong Kong Stock Exchange in May and October of last year, respectively. During a background briefing, Byun Jeong-ho, head of the FSC's Capital Market Bureau, noted, "Domestic investors were directly investing in overseas products with relatively weak investor protection measures. The policy aimed to resolve the asymmetry with overseas markets and prevent the outflow of domestic investment funds while ensuring that domestic investors could invest within a protective framework."However, market reactions exceeded the authorities' expectations. The single-stock leverage product, which launched on May 27 with a scale of 4.4 trillion won, surged to 15 trillion won at one point, raising concerns of overheating. As of July 15, trading volume reached 13 trillion won, accounting for approximately 38.2% of the entire ETF market. The FSC acknowledged that it would be misleading to claim they had anticipated such demand, admitting that the rapid influx of funds prompted the need for countermeasures.With the announcement of these supplementary measures, the entry barriers for single-stock leverage products have significantly increased. The most stringent measure is the temporary suspension of new product listings. New products, including inverse and covered call options, will not be allowed until market stability is restored, aside from the 16 ETFs and 2 ETNs currently trading.The key method for directly curbing investment demand is the enhancement of the basic deposit requirement. Starting around August 5, investors wishing to purchase single-stock leverage products will need to have a basic deposit of 30 million won instead of the previous 10 million won. Notably, from around August 19, only cash will be recognized as the deposit, eliminating the acceptance of substitute securities such as stocks, bonds, and ETFs. This will also apply to existing investors making additional purchases, and the system that allowed brokerages to lower deposit requirements based on trading experience will be abolished.Byun stated, "The requirement for cash only will be the most significant constraint that investors will feel, and we expect demand to decrease to about one-third of current levels, reducing the market capitalization of these products to around 4 to 5 trillion won."Furthermore, the strengthened deposit criteria will apply not only to domestically listed single-stock leverage products for Samsung Electronics and SK Hynix but also to overseas-listed single-stock leverage products such as CSOP SK Hynix 2x leverage and Direxion Tesla 2x leverage. This measure aims to prevent a 'balloon effect' where investors shift to overseas products if only domestic products face stricter regulations.Investment accessibility will also gradually decrease. Starting in November, the minimum trading quantity will increase from 1 unit to 20 units. Products that could previously be purchased for around 20,000 won will now require transactions in approximately 400,000 won increments, encouraging more cautious investment decisions. Single-stock leverage products have been criticized for promoting excessive short-term trading due to their lower investment thresholds compared to direct investments in Samsung Electronics or SK Hynix.Investor education will also be significantly enhanced. Starting at the end of this month, participants will need to pass assessments for each chapter of the training course before proceeding, and from August, the duration of advanced training will increase from 1 hour to 2 hours. The curriculum will be comprehensively revised to include real cases of widening discrepancies that have emerged since the product launch, allowing participants to better understand the associated risks.Issues raised during market operations regarding discrepancies will also be addressed. From August, the management criteria for liquidity providers' end-of-day discrepancies will be tightened from 3% to 2%, and new liquidity provider operations may be restricted in cases of intentional or gross negligence violations. The possibility of restricting new ETF listings if management obligations are neglected by operators is also under consideration. The process for designating investment caution items will be shortened from three stages to two, allowing for quicker responses to abnormal signs.With these measures, the policy direction has rapidly shifted from 'expanding market accessibility' to 'enhancing investor protection,' raising concerns about the consistency of the policy. The FSC stated, "These supplementary measures consider a balanced approach to investor protection, market stability, and market efficiency," adding that if the market does not stabilize, they will consider further tightening entry requirements or implementing regular re-education measures.However, the FSC distanced itself from the view that the introduction of single-stock leverage products was a policy failure. Byun remarked, "Recent market volatility cannot be solely attributed to single-stock leverage products; it is a result of changes in the global semiconductor market and the concentration of the domestic market in semiconductors."* This article has been translated by AI. 2026-07-16 19:56:00
  • Corruption Investigation Agency Raids Former Coast Guard Chief Over Shooting Case
    Corruption Investigation Agency Raids Former Coast Guard Chief Over Shooting Case The Corruption Investigation Agency has launched a raid on Park Sang-chun, the former chief of the Jeju Coast Guard, in connection with allegations of perjury related to the West Sea civil servant shooting incident.According to Yonhap News on July 16, the agency's investigation team sent officials to the Coast Guard headquarters and the Incheon Coast Guard office to conduct searches.The items being seized include Park's mobile phone, work logs, emails, and messenger records.Park was previously reported to have been accused of perjury during a parliamentary investigation into the shooting incident involving Lee Dae-jun, a civil servant from the Ministry of Oceans and Fisheries, who was shot dead by North Korean forces in September 2020. Initially, the Coast Guard stated that Lee had attempted to defect to North Korea. However, following the inauguration of the Yoon Suk Yeol administration, the investigation results were reversed in June 2022, stating that no intent to defect was found.At the time, Park, who was the head of the Incheon Coast Guard, was responsible for announcing the reversal of the investigation results.Yoon Seong-hyun, the former head of the Coast Guard's investigation information division, has claimed that Park expressed to him the day before the briefing, "I don't really want to announce this, but the chief is making me do it. I've never investigated anything like this before, and I don't even know the basics of an investigation, but it seems I have no choice right now."During the parliamentary investigation in April, Park denied allegations of higher-ups' involvement in the reversal process, responding to Yoon's claims by saying, "I have no recollection of that."The West Sea civil servant shooting incident occurred on September 21, 2020, when Lee Dae-jun went missing in waters south of the South Korean island of Soyeonpyeong and was shot dead by North Korean forces the following day. Lee was 47 years old at the time.The prosecution has determined that the Moon Jae-in administration attempted to downplay and cover up the incident, leading to the indictment of former National Security Office chief Suh Hoon, former Coast Guard chief Kim Hong-hee, former National Intelligence Service director Park Ji-won, and former Defense Minister Seo Wook. However, the first trial court acquitted all of them.Park and Seo were confirmed not guilty after the prosecution chose not to appeal. In the cases of Suh and Kim, the prosecution appealed the acquittal on charges of distributing false press releases, but they were also acquitted in the second trial. The prosecution later abandoned its appeal, solidifying their acquittals.* This article has been translated by AI. 2026-07-16 19:56:00
  • Last Lottery Purchase Leads to Jackpot Win in Pension Lottery
    Last Lottery Purchase Leads to Jackpot Win in Pension Lottery "I had been buying lottery tickets weekly without winning, and I planned to stop after this last purchase."As interest grows in the winning numbers for the 324th Pension Lottery 720+ on July 16, the story of a winner from the 274th draw, who won 1st place (1 ticket) and 2nd place (4 tickets), is gaining attention.In a post on the Donghaeng Lottery winners' board last August, the winner shared, "I had been buying lottery tickets weekly without winning, and I was thinking of quitting after this last purchase. I thought, 'Since this is my last ticket, why not try the pension lottery as well?' and bought a set of lotto and pension lottery tickets."The winner continued, "A few days later, I checked the results with the QR code in my room, and I couldn't believe my eyes. I thought I was seeing things, so I ran to my parents' room to double-check, and we all shared the joy of discovering I had won both 1st and 2nd places. The first thought that came to my mind was, 'Finally, I can repay my parents.'"He expressed, "I had many worries about tuition for the future, but I feel good knowing I can resolve that with the winnings. Recently, I prayed earnestly at church for my future, and it seems that my heartfelt wishes led to this unexpected fortune, which I find both amazing and grateful."When asked about a memorable dream, the winner, who purchased the lottery ticket at a store in Jeju City, replied, "I dreamed of saving people who were drowning."In response to a question about which lottery he usually buys, he said, "I mostly buy lotto tickets and this was my first time purchasing a pension lottery ticket."Regarding plans for the winnings, he stated, "I plan to use it for tuition."Meanwhile, the winning numbers for the 324th Pension Lottery 720+ will be available after 7:05 PM today (July 16).* This article has been translated by AI. 2026-07-16 18:52:00