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  • South Korean Company in Trade Dispute Pays $2 Million to Trump Organization
    South Korean Company in Trade Dispute Pays $2 Million to Trump Organization A South Korean company embroiled in a trade dispute with the U.S. government has reportedly paid $2 million to the Trump Organization, a family business of President Donald Trump.According to a report by The New York Times on July 14, recent disclosures from Trump's financial filings indicate that the Base Group made the payment to the Trump Organization last year. The Trump Organization classified the payment as part of a 'letter of intent' and 'non-refundable development fees,' though specific details about the business arrangement were not disclosed.The Times noted that the Base Group has built a relationship with the Trump family over the past decade. In February, Eric Trump, the president's second son and executive vice president of the Trump Organization, was invited to the company's headquarters in Seoul. Additionally, a subsidiary of the Base Group, Geumyang International, imports and sells wines from Trump Winery in South Korea.Another subsidiary, KAMU E&C, appears to have established ties with the Trump Organization through real estate development projects. During his visit to South Korea last year, Eric Trump also toured a golf course site that was being considered for a hotel and entertainment complex.Notably, the Base Group's affiliate is currently involved in a trade dispute with the U.S. government. Korea Aluminum, a subsidiary of KAMU E&C, sells aluminum foil products used in prescription drug packaging and ice cream cone containers to the U.S. The company is under investigation by the U.S. Department of Commerce for allegedly processing and rerouting Chinese aluminum for export to the U.S.The domestic industry, including Korea Aluminum, has pushed back against the allegations, and a final determination from the Commerce Department has yet to be made.The Base Group stated that the $2 million payment to the Trump Organization is related to undisclosed golf course business expenses and is unrelated to the aluminum export dispute.Alan Garten, the Trump Organization's chief legal officer, also refuted claims that the transaction was made for reasons other than legitimate business considerations, calling such assertions 'completely false.'* This article has been translated by AI. 2026-07-15 09:08:00
  • KOSPI Recovers Above 7000 Mark Driven by Semiconductor Stocks; SK Hynix Surges 10%
    KOSPI Recovers Above 7000 Mark Driven by Semiconductor Stocks; SK Hynix Surges 10% The KOSPI opened higher, recovering above the 7000 mark, buoyed by strong performance in large-cap semiconductor stocks. The index is showing a rebound as buying pressure increases following recent sharp declines.As of 9:02 a.m. on July 15, the KOSPI was up 238.09 points (3.47%) at 7094.92 compared to the previous trading day. In the securities market, individuals sold a net 95.6 billion won, while foreign investors purchased a net 133.6 billion won. Institutions were net sellers of 37 billion won.Most of the top stocks by market capitalization on the KOSPI are rising. The strength in semiconductor stocks is particularly notable, with Samsung Electronics up 6.65%, SK Hynix soaring 10.04%, SK Square rising 11.85%, Samsung Electronics preferred shares increasing 6.70%, and Samsung Electro-Mechanics climbing 9.76%. Other gainers include Hyundai Motor (up 2.36%), LG Energy Solution (up 2.95%), Samsung Life Insurance (up 6.62%), KB Financial Group (up 2.33%), and Samsung Biologics (up 1.75%).The KOSDAQ index is also experiencing a rebound. It recorded an increase of 26.57 points (3.39%) to reach 810.55 compared to the previous trading day. In the KOSDAQ market, individuals bought a net 43.9 billion won, while foreign and institutional investors sold a net 32.6 billion won and 11.7 billion won, respectively.Most of the top stocks by market capitalization on the KOSDAQ are also showing strength. Notable gainers include Alteogen (up 3.94%), EcoPro BM (up 6.22%), EcoPro (up 6.32%), JUSUNG Engineering (up 4.10%), Rainbow Robotics (up 3.37%), Kolon TissueGene (up 4.39%), Wonik IPS (up 3.15%), and Rino Technology (up 3.15%). However, PSK is down 2.75%.Han Ji-young, a researcher at Kiwoom Securities, stated, “Given that the domestic stock market has faced unprecedented adjustments beyond the financial crisis, there is little room for further declines in stock prices or valuations. It is essential to align the market's direction with a recovery path rather than additional adjustments.” 2026-07-15 09:08:00
  • Minimum wage set at 10,700 won for next year
    Minimum wage set at 10,700 won for next year SEOUL, July 15 (AJP) - Next year's minimum wage in South Korea has been set at 10,700 South Korean won (about US$7) per hour after monthlong negotiations between workers and employers. A 27-member committee, with nine representatives each from workers, employers and government-appointed independent members, held a meeting in the administrative city of Sejong on Tuesday and decided to raise the minimum hourly wage by 3.7 percent from the current 10,320 won to 10,700 won next year. After both sides failed to reach an agreement despite a series of negotiations in recent weeks, the final proposals were put to a vote. The employers' proposal of 10,700 won per hour passed with 15 votes, while the labor side’s proposal of 10,730 won received 11 votes, with one vote invalid. The monthly wage based on the newly set minimum wage will be 2.24 million won for a 40-hour workweek, up 79,420 won from this year. The hike is expected to affect around 2.98 million workers. But both sides remained unsatisfied with the final decision. Labor groups said, "The increase does not even keep pace with rising prices and feels more like a freeze than a raise." The Federation of Korean Trade Unions (FKTU) also called the decision "deeply disappointing," saying it failed to reflect the struggles of low-wage workers and the rising cost of living. The FKTU also expressed regret that its efforts to extend minimum wage coverage to platform workers including delivery workers and riders, had fallen through. It vowed to continue fighting to protect low-wage workers' right to a livelihood. But business groups said the increase would put even more strain on small business owners. The Korea Enterprises Federation (KEF) said in a statement that the minimum wage should have been frozen, citing difficult conditions faced by small and midsized companies and self-employed business owners who can barely afford higher labor costs. 2026-07-15 09:04:39
  • Erdoğan calls July 15 resistance unparalleled in democratic history
    Erdoğan calls July 15 resistance unparalleled in democratic history SEOUL, July 15 (AJP) - Turkish President Recep Tayyip Erdoğan said the popular resistance that defeated the July 15, 2016 coup attempt stands unmatched in the history of world democracy, crediting the nation's willingness to die for its independence with powering Türkiye's rise as a global actor over the past decade. "The Turkish nation's prudence, courage, and foresight on the night of 15 July are also unprecedented in the history of world democracy," Erdoğan said in a written statement marking the 10th anniversary of the failed coup, released Wednesday. The statement comes as Türkiye holds commemorations in all 81 provinces and at its diplomatic missions abroad for Democracy and National Unity Day, the national observance established after the events of 2016. On the night of July 15 that year, a faction within the Turkish military attempted to seize power, bombing the parliament in Ankara and deploying tanks onto the Bosphorus bridge in Istanbul. Erdoğan, speaking by video call on a news anchor's phone, urged citizens into the streets. Crowds surrounded military units and climbed onto tanks, and the coup collapsed before dawn. At least 251 people were killed and more than 2,000 wounded; official commemorations now honor 253 victims, a figure Erdoğan cited in his statement. Ankara attributes the attempt to the network of Fethullah Gülen, a cleric who lived in self-imposed exile in Pennsylvania from 1999 until his death in October 2024 and who denied involvement until the end. The Turkish government designates the network a terrorist organization, calling it the Fethullahist Terrorist Organization, or FETÖ. The years after the coup attempt saw tens of thousands of soldiers, judges, prosecutors, teachers, and civil servants dismissed or detained in one of the largest purges in the republic's history, a crackdown Western governments criticized for its scale. In his statement, Erdoğan described the attempt as "far more than a conventional coup attempt" and called it "an all-out act of invasion directed against our country's independence." He said the resistance of that night underpins Türkiye's current international standing. "If Türkiye is now regarded as a country whose contribution is sought, whose word carries weight, and who is consulted on regional and global matters, behind this success lies the will of our august nation, who stood up for their independence and future at the cost of their lives on the night of 15 July," he said. The president pointed to the decade's gains in the defense, aviation, and space industries under the National Technology Move, naming the TOGG electric car, the KAAN fighter jet, national corvettes, and Turkish drones among the country's globally recognized products. Erdoğan also warned that FETÖ remains active despite what he described as an accelerating internal disintegration of its overseas network over the past two years, and accused unnamed countries of covertly supporting the organization and harboring its members. "Our primary expectation from the global community is to support Türkiye's legitimate struggle," he said. "Global peace, security, and prosperity can only be achieved through a resolute and uncompromising fight against terrorist organisations without any distinction and through sincere cooperation." The full text of the statement follows. "Resistance of 15 July is unparalleled in the history of world democracy" One of the most brutal coup attempts in Türkiye's political history took place exactly ten years ago, on 15 July 2016. Orchestrated by a terrorist network that had insidiously infiltrated the institutions of our state, this coup attempt sought to plunge Türkiye into years of chaos and subjugate the future of our nation. By standing up for their independence and future to confront the coup plotters, our august nation asserted to the entire world through their heroic resistance that the will of the people can never be subjugated on these lands. Undoubtedly, the Turkish nation's prudence, courage, and foresight on the night of 15 July are also unprecedented in the history of world democracy. This treacherous insurrection by the Fetullahist Terrorist Organisation (FETO) was far more than a conventional coup attempt; it was an all-out act of invasion directed against our country's independence. The primary targets of the putschists were the emblematic institutions that embody the national will and our nation's independence, namely the Presidential Complex and the Grand National Assembly of Türkiye. On the night of 15 July, I underlined in my public statement that I had never recognised any power greater than that of the people. I made that statement in full confidence that the Turkish nation would stand firm in defence of its own will. Indeed, that very night, our people took to the streets with unwavering faith and determination, refusing to submit to the domination of this terrorist organisation. Risking their lives to defend the independence of their country, its democratic achievements, and its free will, our nation repelled the putschists and inscribed an epic of national will that shall be remembered with pride for generations to come. Inspired by the brave stance of our nation, we acted swiftly to eliminate any negative consequences of this treacherous insurrection. We promptly introduced comprehensive structural reforms to eliminate from all state institutions any anti-democratic formations that could threaten democratic governance through extra-political means. We subsequently attained critical achievements through operations conducted both at home and abroad as part of our strategy to eliminate the other terrorist organisations we have been combating. Ultimately, we launched the Terror-Free Türkiye initiative, marking a new chapter in our nation's story of unity and solidarity. This process, one of the essential cornerstones of our 'Century of Türkiye' vision, is, praise be to Allah, advancing firmly towards its destination with an all-encompassing and inclusive approach through the diligence of our security forces and the support of the political establishment. I believe the success of the 'Terror-free Türkiye' process will contribute not only to the peace and tranquillity of our country but also to that of our region. As a result of our struggle against those who attempted this coup and also targeted our country's economic prosperity and development, we have taken significant steps towards a more prosperous future through the projects we have launched in sectors such as energy, transport, healthcare, agriculture, technology, and defence. With the National Technology Move, we have made significant strides in the defence, aviation, and space industries over the past decade. We have developed electric and smart transport systems, and through substantial investment in the health and agriculture sectors, we have strived to live up to the sacrifices of our people. During this process, we have also developed our brand products, which have gained worldwide recognition. Among these, our electric automobile, the TOGG; our national fighter aircraft, the KAAN; our national corvettes; and our unmanned aerial vehicles are the first that spring to mind. On the other hand, over the past 10 years, Türkiye has emerged as an effective actor in the resolution of crises and conflicts at both regional and global levels, guided by an enterprising foreign policy approach. In all crisis regions, we have not hesitated to assume responsibility for maintaining peace and tranquillity by supporting the oppressed and the righteous, rather than the powerful. Wherever there is oppression or injustice, we have been the voice of international law, justice, and conscience. If Türkiye is now regarded as a country whose contribution is sought, whose word carries weight, and who is consulted on regional and global matters, behind this success lies the will of our august nation, who stood up for their independence and future at the cost of their lives on the night of 15 July. The fight against terrorism, in which international cooperation is essential, retains its prominent place on our foreign policy agenda. As is well known, the process of internal disintegration within FETO's overseas network has accelerated over the past two years. That said, we are aware that some countries are covertly providing support to this organisation and are harbouring its members. I would like to take this opportunity to underscore the necessity of maintaining vigilance against FETO, which considers all means permissible to achieve its ambitions, adopts every possible guise, and does not hesitate to exploit every concept, including democracy, freedom, and human rights. As a nation that saw 253 of its sons and daughters martyred by the putschists on the night of 15 July, our primary expectation from the global community is to support Türkiye's legitimate struggle. Global peace, security, and prosperity can only be achieved through a resolute and uncompromising fight against terrorist organisations without any distinction and through sincere cooperation. Recep Tayyip ERDOĞAN President of the Republic of Türkiye 2026-07-15 09:00:00
  • Ahn Cheol-soo Urges Han Dong-hoon to Exclude Supporters from New Party
    Ahn Cheol-soo Urges Han Dong-hoon to Exclude Supporters from New Party 안철수 국민의힘 의원은 15일 한동훈 무소속 의원을 향해 "창당할 때 친한(친한동훈)계 '여의도 렉카'들은 배제하길 바란다"고 밝혔다.안 의원은 자신의 페이스북에 "'친한'을 떠드는 렉카들이 한 의원 곁에 계속 포진해 있는 한 그들에게 물리고 할퀴어진 분들의 '한(恨)'이 '한(동훈)'을 무너뜨릴 것"이라며 이같이 적었다.앞서 안 의원은 한 의원과 12·3 비상계엄 당시 행적을 둘러싼 법정 증언을 두고 공방을 이어가고 있다. 안 의원이 추경호 대구시장 재판에서 "당시 국민의힘 의원들에게 처음 당사 집결을 공지한 인물은 한동훈 당시 대표로 안다"고 증언하자 한 의원은 "거짓 선동"이라며 반박했다.안 의원은 "본질은 제 법정 증언인데 사실과 증거가 확실하니 엉뚱한 마타도어에 열을 올리고 있었다"며 "같은 당적을 가지고 있음에도 당 밖의 사람을 위해 인신공격과 중상모략을 퍼붓는 것은 물론 공상에 낚여 '누가 기자회견을 시켰다'는 식의 소설까지 쓰는 모습은 애잔하기까지 하다"고 지적했다.이어 "저와 함께 일하다가 지금은 가열차게 한 의원을 옹호하는 비천한 사람도 있고, 오전에는 저를 비판하다 오후에는 한 의원을 비난하는 기회주의자도 보였다"며 "누가 진실을 말했는지 대한 정론이 아니라, 허구의 망상에 몰두하는 가벼운 처신들"이라고 비판했다.그는 "한 의원의 창당을 응원한다고 말씀드렸다. 그러나 진심어린 충고를 하나 드리자면 이러한 사람들은 떨쳐내시기 바란다"며 "한 의원을 지지하다가도 이러한 렉카들 때문에 진저리를 치고 멀어진 사람들을 많이 봤다. 저 비루한 여의도 렉카질은 언젠가 한 의원을 사지로 몰아갈 수 있다"고 주장했다. * This article has been translated by AI. 2026-07-15 08:56:00
  • Hyundai Launches 2027 Casper with Enhanced Features
    Hyundai Launches 2027 Casper with Enhanced Features The Casper, a dominant player in the subcompact SUV market, has returned with its 2027 model.Hyundai Motor Company announced on July 15 the launch of the 2027 Casper and the 2027 Casper Electric, both featuring enhanced convenience options. The updated models include popular features as standard across various trims.The 2027 Casper starts with the entry-level Smart trim, which now includes push button start, a smart key, remote start, and button-type outside door handles for the front row as standard. The Essential trim adds a safety power window for the passenger side to improve convenience.The 2027 Casper Electric includes a high-pass feature as standard in the Premium trim. The Inspiration and Cross trims come equipped with a digital key 2 touch, wireless smartphone charging, and touch-type outside door handles for the front row as standard.The starting prices for the 2027 Casper are 15.46 million won for the Smart model, 17.92 million won for the Essential, and 20.35 million won for the Inspiration. The van models are priced at 14.70 million won for the Smart and 15.70 million won for the Smart Choice.For the 2027 Casper Electric, the prices, considering eco-friendly vehicle tax benefits, are 28.47 million won for the Premium, 32.12 million won for the Inspiration, 34.12 million won for the Cross, and 34.57 million won for the Lounge. With government and local subsidies, the Premium trim is expected to be available for just over 20 million won in Seoul.Meanwhile, the Casper Electric, sold under the name 'Inster' in the European market, has been gaining popularity since its export began in 2024. According to Hyundai's European division, the cumulative sales of the Inster reached 33,917 units last year, making it the second best-selling electric vehicle in the A-segment (microcar category).* This article has been translated by AI. 2026-07-15 08:56:00
  • Shinhan Securities Raises Korean Air Target Price Amid Strong Cargo Rates
    Shinhan Securities Raises Korean Air Target Price Amid Strong Cargo Rates Shinhan Investment Corp. announced on July 14 that it has raised its target price for Korean Air from 35,000 won to 38,000 won, citing continued strength in cargo rates. The firm maintained its 'buy' rating.Choi Min-ki, a researcher at Shinhan Investment, stated, "Korean Air is achieving outstanding results among global airlines due to the unique characteristics of its cargo business and its geographical advantages." He added, "The strong cargo rates have led to stable operating profits."In the second quarter, Korean Air reported standalone revenue of 5.1 trillion won, a 25.9% increase compared to the same period last year, with an operating profit of 261.8 billion won. Choi noted, "Although rising fuel costs have somewhat impacted profitability, the airline's performance has been more stable than market concerns during the Middle East conflict."The passenger segment has seen a slight decline in overseas travel demand due to increased fuel surcharges. However, the reduction in supply from foreign airlines on routes to the Middle East, China, and Japan has boosted transfer demand, along with increased inbound demand due to the weakening won.The passenger segment is expected to continue its recovery. Choi predicted, "As the burden of fuel surcharges eases, overseas travel demand is likely to rebound around the Chuseok holiday. While cost pressures from the weak won will persist, strong inbound demand is expected to continue."The cargo segment has experienced significant growth, driven by increased demand for data center-related cargo due to expanded investment in artificial intelligence (AI), leading to rising freight rates. Cargo revenue and rates rose by 46.1% and 41.8%, respectively, compared to the previous year.Looking ahead to the second half of the year, Choi anticipates continued strong performance in the cargo business. He explained, "The decline in jet fuel prices has been more significant than the drop in air cargo rates, indicating a need to revise upward the cargo performance outlook for the second half."* This article has been translated by AI. 2026-07-15 08:52:00
  • SK Hynix ADR Debuts with 84,000 Domestic Investors on First Day
    SK Hynix ADR Debuts with 84,000 Domestic Investors on First Day Domestic individual investors purchased over 300 billion won worth of SK Hynix American Depositary Receipts (ADRs) on the first day of trading.According to the financial investment industry on July 15, approximately 84,000 individual investors bought SK Hynix ADRs through nine major domestic securities firms, including Mirae Asset Securities, on July 10 (local time).ADRs are certificates issued by foreign companies that allow their shares to be traded on U.S. stock exchanges while maintaining their home country listings.On the first day, domestic investors acquired a total of 1.36 million shares of SK Hynix ADRs, representing about 0.76% of the public offering amount of 177.9 million shares. The estimated value of these purchases was around 338.9 billion won.Industry estimates suggest that if purchases through other securities firms are included, the number of investors could approach 100,000, with total holdings exceeding 400 billion won.In the domestic stock market, individual buying continued. According to the Korea Exchange, individual investors net bought 788,510 shares of SK Hynix on the same day, amounting to approximately 1.7 trillion won.This surge in buying is interpreted as investors anticipating further stock price increases for SK Hynix following the ADR listing, prompting simultaneous purchases in both the U.S. and domestic markets.However, the stock experienced significant volatility immediately after its listing. SK Hynix ADRs began trading at $170, above the offering price of $149, and peaked at $177 during the day, but later retraced to close at $168.01. This reflects a 12.76% increase compared to the offering price, but is lower than the initial trading price.On the second trading day, July 13, the stock closed down 9.32% from the previous day, but rebounded with a 27.29% increase on July 14.Meanwhile, the SK Hynix ADR listing was conducted with a total scale of $26.5 billion (approximately 40 trillion won). Industry experts regard it as the second-largest listing in the U.S. market this year, following SpaceX's $85.7 billion IPO last month.* This article has been translated by AI. 2026-07-15 08:52:00
  • Gaon Cable Supplies Power Distribution Cables to SK Hynixs Yongin Semiconductor Cluster
    Gaon Cable Supplies Power Distribution Cables to SK Hynix's Yongin Semiconductor Cluster Gaon Cable has begun supplying power distribution cables to SK Hynix's Yongin semiconductor cluster, marking an expansion in its semiconductor power infrastructure business.On July 15, Gaon Cable announced it has supplied hundreds of millions of won worth of power distribution cables to the Yongin semiconductor cluster.This supply extends Gaon Cable's reach to the Yongin cluster, following its existing operations in Icheon and Cheongju. The company plans to actively target the demand for new semiconductor fab construction, expansion of existing production facilities, and replacement of aging equipment.Power distribution cables are essential equipment that reliably supply electricity to production lines and process facilities. Semiconductor plants require large amounts of power 24/7, creating consistent demand not only for new factory construction but also for expansions and maintenance.Gaon Cable is currently negotiating additional supplies worth hundreds of millions of won for the second half of the year and is also pursuing participation in a power infrastructure project for semiconductor production facilities being developed by a U.S. company.Industry experts anticipate that as investments in AI semiconductors increase, the demand for power cables and transformers will grow alongside the establishment and expansion of semiconductor factories both domestically and internationally.Jung Hyun, CEO of Gaon Cable, stated, "Semiconductor production facilities are massive power infrastructure sites. Based on our domestic supply experience, we will expand our business into the global semiconductor power infrastructure market, including the United States."* This article has been translated by AI. 2026-07-15 08:48:00
  • Na Hong-jins Hope Premieres Today Amid Audience Reactions
    Na Hong-jin's 'Hope' Premieres Today Amid Audience Reactions Na Hong-jin's new film 'Hope' premiered today, drawing attention to a review from an audience member who attended a director's Q&A session.On July 14, a post titled 'Hope Lee Chang-dong Director's Q&A Review' appeared on an online community.The reviewer noted that Director Lee Chang-dong described the film as "the pinnacle of pure entertainment," adding, "I resonate with that description."He praised the film for its "exhilarating action, speed, tension, and thrills, showcasing a sensory experience rarely seen in Korean cinema," and remarked that the quality of the cinematography was exceptional.However, he expressed some disappointment with the CGI, stating, "While it doesn't break immersion, viewers familiar with creature films might find certain scenes somewhat jarring," and predicted that the depth of the story and its conclusion would elicit mixed reactions among audiences.Additionally, Na Hong-jin mentioned during the Q&A that he wanted to create a film that was "completely different from 'Gokseong,'" and the reviewer felt that this intention was successfully realized, advising viewers not to expect 'Gokseong.'Further insights into the atmosphere of the Q&A session were shared.The reviewer noted, "Director Lee Chang-dong humorously remarked at the start, 'Na Hong-jin makes great films but isn't great at speaking, so I'll moderate the discussion,' which had the audience laughing," and added that the unexpectedly humorous moderation was impressive.He also shared in the comments, "The dialogue is clear. It's not a dialogue-heavy film to begin with," and suggested that Director Lee seemed to have a favorable view of 'Hope.'Film critic Lee Dong-jin had previously expressed high expectations for the film in his Q&A event announcement.Lee described 'Hope' as "an astonishing sci-fi film in both the quantity and quality of action, with a story that uniquely delves into various layers," and characterized the film as feeling like a massive crescendo as it boldly races through a bizarre chaos.He emphasized that it is not merely a spectacle-driven commercial film, but one that impresses with its narrative, direction, and rhythm, stating, "You probably haven't seen Na Hong-jin tell a story this long and deep before."Fans of the film have been buzzing about Lee's every expression.In particular, his comment that the "quantity and quality of action are astonishing" has been interpreted as a nod to the film's large-scale action sequences, while the phrase "a story that uniquely delves into various layers" suggests a narrative that goes beyond simple entertainment, allowing for diverse interpretations.Moreover, the description of the film as racing "like a massive crescendo" has been seen as an indication of the escalating tension and immersion as the film progresses.Commenters have expressed their excitement, stating, "The most anticipated Korean film of the year," "I always watch Na Hong-jin's films in theaters," "Just reading Lee Dong-jin's review raises my expectations," and "The casting alone is incredible."'Hope' marks Na Hong-jin's first feature film in nearly a decade since 'Gokseong.' It is known for its global cast and unique worldview, combining action, mystery, thriller, and human drama, and is considered one of the most anticipated films of the summer.* This article has been translated by AI. 2026-07-15 08:48:00