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Samsung Reclaims Smartphone Market Leadership, Capturing 24% Share in Q2 Samsung Electronics has regained its position as the leader in the global smartphone market for the second quarter of this year. Analysts attribute this resurgence to a tailored pricing strategy aimed at emerging markets and the successful launch of flagship products.According to preliminary estimates released on July 14 by market research firm Counterpoint Research, Samsung achieved a global smartphone market share of 24%, reclaiming the top spot after falling to second place with a 20% share in the first quarter, where it was surpassed by Apple at 21%.The recovery is believed to be driven by customized sales and pricing strategies targeting emerging markets such as India and the Middle East. Strong sales of the recently launched Galaxy S26 series also contributed to the positive results. Notably, the Galaxy S26 Ultra, which prominently features artificial intelligence (AI) capabilities and a privacy display, has received a strong market response.In contrast, Apple, which has slipped to second place, reported a 3% increase in shipments compared to the same period last year, achieving a market share of 20%. Amid a general trend of price increases across the industry, Apple maintained its launch prices and saw robust demand for the iPhone 17 series, allowing it to continue its growth trajectory.Meanwhile, the overall global smartphone market size for the second quarter has significantly contracted due to supply chain disruptions. Global smartphone shipments fell by 11% compared to the same period last year, marking the lowest level in 13 years since 2013.Counterpoint Research noted, "The surge in AI data center demand has exacerbated shortages of key memory semiconductors such as DRAM and NAND flash, leading to increased component prices that have burdened smartphone manufacturing costs and dampened overall consumer sentiment in the market."* This article has been translated by AI. 2026-07-14 11:04:00 -
KOTRA Launches Initiative to Boost Global Competitiveness of Social Economy Enterprises The Korea Trade-Investment Promotion Agency (KOTRA) announced on July 14 that it is launching the 'Global Leap Project for Social Economy Enterprises' to support their overseas expansion and growth.This initiative follows the recent government announcement of the 'Comprehensive Plan for the Development of Social Solidarity Economy.' KOTRA plans to operate various programs throughout the year to help social economy enterprises secure self-sufficiency and achieve substantial quantitative and qualitative growth.The Global Leap Project will focus on four key areas: export marketing, startup and investment attraction, ESG management, and attracting domestic and international talent. Additionally, it will operate as an integrated support system linked with KOTRA's social solidarity economy projects and collaborations with relevant organizations.KOTRA aims to support companies' global expansion by combining existing overseas support programs with new package offerings and preferential services for international ventures.In collaboration with the Korea Social Enterprise Promotion Agency, KOTRA will also implement a step-up program for social enterprises and a project to measure social value indicators. Companies that receive 'excellent' or 'outstanding' ratings in SVI measurement will be granted advantages in the selection of certain programs.Kang Kyung-seong, President of KOTRA, stated, "For social economy enterprises to find opportunities beyond the domestic market and achieve sustainable growth, mutual growth across the entire ecosystem is essential. We will strengthen collaboration with relevant organizations and provide tailored support to actively assist the global leap of social economy enterprises." 2026-07-14 11:04:00
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Lotte Department Store Launches Pop-Up Featuring Star Chefs from TV Show Lotte Department Store is set to showcase culinary offerings from star chefs featured on television. Starting July 17, a relay pop-up store will operate in the food court on the basement level of the Jamsil location, featuring signature dishes from chefs who appeared on the tvN program 'Street Restaurant Fighter' until September 17.The first pop-up will be led by Chef Jo Seo-hyung from the Korean omakase restaurant 'Euljiro Jewel.' He will present his popular dish, 'Sticky Rice Nurungji Kimchi Cheese Chicken,' from July 17 to 23. On weekends, Chef Jo will also meet with customers at the store.Following Chef Jo, a total of six chefs, including Chef Kim Ho-yoon and renowned Busan chef Kwon Dong-hoon, will sequentially introduce popular menu items from the show, covering Korean, Chinese, and Western cuisines. Lotte Department Store aims to transform the Jamsil food court into a hub for gourmet experiences to attract more customers.Additionally, customer participation events will be held. After visiting the pop-up store, customers can post their taste evaluations on YouTube Shorts or Instagram Reels with the hashtags '#StreetFighterPopUp' and '#IAmTheJudge.' Outstanding participants will receive shopping vouchers worth 300,000 won from Lotte Department Store. Furthermore, 20 individuals who write creative reviews will be awarded a three-month subscription to Tving.Recently, the department store industry has been enhancing experiential content to boost offline competitiveness. By introducing popular intellectual property (IP) pop-ups, exhibitions, and gourmet content, they are expanding strategies to increase customer dwell time, with collaborations with famous chefs and differentiation in food courts becoming key attractions.Park Sang-woo, head of marketing at Lotte Department Store, stated, “We plan to continue offering differentiated experiential content that goes beyond shopping, allowing customers to see, taste, and enjoy, thereby strengthening the competitiveness unique to department stores.”* This article has been translated by AI. 2026-07-14 11:00:00
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Chinese Premier Invites Pang Donglai to Discuss Employment, Consumption, and Services Li Qiang, Premier of the State Council of China, hosted an economic forum on July 13 that included Pang Donglai, chairman of the Chinese retail company Pang Donglai, drawing significant attention.This forum, typically held ahead of the Central Politburo meeting at the end of July, serves to review economic policy directions for the second half of the year and gather on-the-ground opinions. The list of attendees is seen as a signal of the Chinese leadership's economic policy priorities.According to the People's Daily, the forum included prominent business figures such as Pang Donglai, Hou Qijun, chairman of Sinopec, Wang Zhijian, chairman of Shandong Heavy Industry Group, and Li Jun, president of Zhongke Shuguang (AI servers). Experts present included Huang Hanquan, director of the China Macroeconomic Research Institute, Yang Ziyong, director of the China Financial Science Research Institute, Wang Wen, director of the Renmin University Zhongyang Financial Research Institute, and Zhang Jun, chief economist at China Securities.Pang Donglai was particularly noteworthy among the attendees. Traditionally, such economic forums have featured leaders from big tech and manufacturing sectors, making the inclusion of a retail executive a rare occurrence.Pang Donglai, a local retail company in Henan Province, is known for its strong employee welfare and job stability, earning the reputation of being 'the happiest company for employees' in China. The company avoids excessive overtime and offers compensation above industry averages, while also being recognized for its customer-centric service, making it a leading success story in the Chinese retail sector. Many retail companies in China seek advice from Pang Donglai or benchmark their practices against the 'Pang Donglai model.'The Chinese government has also highlighted Pang Donglai as a representative case of innovation in the retail sector. On July 9, following the release of opinions on accelerating the innovative development of the retail industry by nine ministries, officials emphasized the need to actively benchmark Pang Donglai's experiences to enhance product and service quality and strengthen supply chain management.Pang's participation in this forum reflects the Chinese leadership's view that, amid economic slowdown, strengthening the competitiveness of the service sector, creating quality jobs, and boosting consumption are crucial for economic management in the second half of the year.During the forum, Premier Li Qiang stated, 'We must systematically implement policies that unleash domestic consumption potential in the second half of the year, thoroughly promote policies for expanding and improving the service sector, increase the supply of high-quality services, and foster new growth drivers for consumption.' He also expressed hope that entrepreneurs would enhance their confidence in economic development and contribute more significantly to job stability and growth. 2026-07-14 11:00:00
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Korea Kolmar Donates 37 Million Won to Support Youth Preparing for Independence Korea Kolmar continues its support for youth preparing for independence, helping them transition into stable social lives. On July 13, Korea Kolmar announced that it donated 37 million won to the social enterprise Soyf Studio through the Band Foundation to support youth preparing for independence. The donation ceremony was attended by key figures, including Choi Hyun-kyu, CEO of Korea Kolmar, Go Dae-hyun, CEO of Soyf Studio, and Ha Jung-eun, Chairperson of the Band Foundation. Youth preparing for independence refers to those who begin living independently after leaving child care facilities or foster homes at the age of 18. Recently, there has been growing recognition in the business community of the economic and psychological isolation these youths face, leading to the expansion of programs that provide practical support, such as job placement and vocational training, beyond one-time donations. In line with this trend, Korea Kolmar has been providing tailored support for the past five years, starting in 2022. To date, the company has awarded scholarships to 54 youth preparing for independence and offered opportunities to participate in the design academy at Soyf Studio for those interested in the cosmetics industry. Youth who have gained practical skills through this training have also participated in the development project for Korea Kolmar's cosmetic product, Hydra Sun Serum. Notably, a separate scholarship was awarded to the young designer responsible for the product's design, and the completed product will be used in promotional activities for the support program for youth preparing for independence. A representative from Korea Kolmar stated, "We decided to continue our support this year to help youth taking their first steps into society settle down stably. We will expand various forms of support for youth preparing for independence in the future."* This article has been translated by AI. 2026-07-14 10:56:00
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Samsung Electronics Wins Eight Awards at Red Dot Design Award 2026 Samsung Electronics has won a total of eight awards, including two top honors, at the 2026 Red Dot Design Award in the design concept category. According to industry sources on July 14, Samsung was recognized for its ability to understand user situations and preferences through artificial intelligence (AI), showcasing the direction of future lifestyles. The top award, Best of the Best, was awarded to the 'Home Appliance Consumables Concept Design' and the next-generation kids robot 'Drimo and Minimo.' The Red Dot Design Award is one of the world's three major design awards, organized by the Design Center of North Rhine-Westphalia in Germany. The Home Appliance Consumables Concept Design was designed to intuitively convey management methods through color coding. Permanent parts are marked in gray, recyclable parts in green, and general waste in brown, allowing for disposal without additional explanation. Following the Gold Award at the IDEA 2024 and the Gold Award at the iF Design Award 2026, this latest Red Dot top honor marks a clean sweep of the world's three major design awards. Another award-winning project, Drimo and Minimo, is a kids robot concept that utilizes AI to provide personalized experiences tailored to a child's interests and growth stages. The home robot 'Drimo' and the portable 'Minimo' work together to support children as they interact with characters created by generative AI. Six design concepts aimed at enhancing quality of life through AI technology also received awards. These include the 'AI Beauty Mirror,' which analyzes skin conditions to suggest personalized care; the 'Panorama UX,' which optimizes screen interaction based on context; and the 'AI Kitchen,' which assists with ingredient management, cooking, and cleaning. Additionally, the 'Spatial Tab,' an interactive platform based on glasses-free 3D, the empathetic AI home companion 'PUCO,' and the 'Fluid AI Design System,' which generates customized interfaces, also received awards. Mauro Porcini, Chief Design Officer of Samsung Electronics' DX Division, stated, "As technology advances, understanding people deeply becomes increasingly important. We will continue to create natural and meaningful experiences based on sensory designs that reflect individual diversity."* This article has been translated by AI. 2026-07-14 10:52:00
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Hecto Healthcare's 'Only Ritual' Sees Sales Surge Thanks to Olive Young Promotion 헥토헬스케어의 이너뷰티 브랜드 '온리추얼'이 올리브영 프로모션 효과로 성장세를 이어가고 있다. According to Hecto Healthcare, sales of its inner beauty brand, Only Ritual, increased by 41% last month compared to the period of the Olive Young 'All Young Sale' in March. Only Ritual participated in the sale, showcasing key products such as 'Slimming Cut Diet,' 'Reset V-Line,' and 'Glow Up Collagen.' The brand also expanded consumer engagement by operating concept zones in major stores, including Myeongdong Station and Apgujeong Rodeo Station. The company stated, "Increasing opportunities for product experience through offline spaces has led to higher conversion rates and sales growth." Additionally, rising interest in weight management and skincare ahead of the summer vacation season is believed to have contributed to this trend. Indeed, Olive Young's announcement of the '2026 Trend Keywords' indicates a growing focus on skin health and home care consumption, supporting the growth of the inner beauty market. A Hecto Healthcare representative remarked, "Through our promotion with Olive Young, we have expanded consumer touchpoints and achieved significant sales results. In the second half of the year, we aim to expand our outer beauty line and elevate our brand to a total beauty brand." Meanwhile, Only Ritual actively participated in global marketing efforts, showcasing its wellness-focused brand at the 'CBE 2026 (China Beauty Expo 2026)' held in Shanghai in May. The brand operated product experience and on-site events centered around the 'One Day Ritual' concept, drawing attention from attendees by introducing its direction as a wellness lifestyle brand that encompasses both inner beauty and skincare.* This article has been translated by AI. 2026-07-14 10:52:00
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Ruling Party Approves Preference Voting System, Youth Committee Proposal Rejected As the Democratic Party prepares for its party convention in August, it has decided to implement a preference voting system, which has been a topic of controversy, during a Supreme Council meeting on July 14. However, the proposal for a youth committee was ultimately rejected and will undergo further discussion.The party announced that it approved amendments to its party constitution and regulations to introduce the preference voting system during a closed Supreme Council meeting held in the National Assembly.Chief Spokesperson Kang Jun-hyun told reporters after the meeting, "We aimed to minimize controversies regarding the selection of party leadership ahead of the convention by amending the party regulations. The main content specifies that both preference voting and runoff voting methods can be implemented."Kang added, "The decision was made through verbal agreement, and if it passes in the party affairs committee scheduled for 4 PM today, the process will be complete."However, Kang noted that the youth committee proposal, which was discussed alongside the preference voting system, was rejected and will be referred back for further discussion.He explained, "The youth committee proposal, which aimed to elect one of the five elected Supreme Council members as a youth representative, was defeated in the vote and will be re-evaluated by the preparatory committee."Following the announcement of the Supreme Council's decisions, members of the party leadership from both the pro-Kim Min-seok and pro-Jung Cheong-rae factions engaged in disputes over the rejection of the youth committee and the approval of the preference voting system.Lee Seong-yun, a prominent member of the pro-Jung faction, expressed his intention to resign from the Supreme Council, stating, "I raised objections to the implementation of a system that violates the party constitution and regulations, but the lack of improvement is unacceptable."Other pro-Jung members, including Park Gyu-hwan, Moon Jeong-bok, and Park Ji-won, also questioned the insistence on a specific voting method that they believe violates party rules, saying, "We decided to accept it in accordance with the spirit of prioritizing the party over personal interests that has permeated Jung Cheong-rae's leadership."In contrast, pro-Kim members Kang Deuk-gu and Hwang Myeong-seon acknowledged that the preference voting system was already approved under the leadership of Lee Jae-myung in 2025, but criticized the rejection of the youth committee proposal.Hwang remarked, "At that time, the preference voting system was correct, but now it is wrong. Is it the duty of a Supreme Council member to hold things up for a week? The introduction of a youth committee is not a privilege for a specific generation; it is an investment in the future of Korean politics and the Democratic Party, reflecting the spirit of the times."* This article has been translated by AI. 2026-07-14 10:44:00
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Central Bank to Decide on Interest Rates Amid Economic Tightening The Bank of Korea's Monetary Policy Committee will decide on the benchmark interest rate and future monetary policy direction on the 16th. Market attention is focused on whether rates will rise or remain unchanged. However, the more critical aspect of this meeting is not merely the 0.25 percentage point change in the benchmark rate, but whether it signals that the South Korean economy is entering a tightening phase again. The market is already reacting. Government bond yields have risen ahead of the benchmark rate, and bank lending rates are also on the rise. Despite the government's repeated regulations, the real estate market continues to see record-high prices, particularly in Seoul, while household debt is increasing rapidly once more. The value of the won is also vulnerable to external factors, indicating that the Bank of Korea's policy options are becoming increasingly limited. Since the COVID-19 pandemic, our economy has grown accustomed to low interest rates and abundant liquidity. Companies have based their investment plans on low rates, households have increased their assets through borrowing, and the government has supported the economy with expansionary fiscal policies. However, the current economic environment is entirely different. If inflation concerns are not fully resolved and real estate prices are stimulated again, monetary authorities will find it difficult to ignore tightening measures. Raising interest rates will not solve all problems. In fact, it could increase the burden of financing for businesses and dampen consumer spending. With domestic recovery still insufficient, tightening could heighten the risks to economic growth. Nevertheless, monetary authorities cannot overlook inflation and financial stability. The central bank's primary responsibility is to maintain the value of the currency and the trust in the financial system, rather than merely stimulating the economy in the short term. The issue is that our society has yet to break free from the mindset of the low-interest era. When real estate prices rise, there is still a tendency to take out loans to buy homes, businesses continue to rely on borrowing for growth, and the government views fiscal expansion as the easiest solution. However, in today's global economy, characterized by high interest rates, high inflation, and geopolitical uncertainties, such approaches are no longer viable. In particular, government policies must align with monetary policy. If one side is reducing market liquidity through interest rates while the other is implementing excessive fiscal expansion or market-stimulating policies, the effectiveness of these policies will inevitably be diminished. Trust in the market increases when monetary policy, fiscal policy, financial policy, and real estate policy work in harmony. Businesses must also prepare for change. In the era of low interest rates, aggressive borrowing could be a means of growth, but it is likely that financial soundness will become a key competitive advantage in the future. Households face a similar situation. Debt accumulated during low rates can become a significant burden as rates rise. What is needed now is not additional borrowing, but debt management and risk diversification. The Bank of Korea's upcoming decision will not just be a simple interest rate adjustment; it will send an important message to our economy. Even if rates are held steady this time, it should not be interpreted as the end of the tightening trend. The market has already begun to reflect a new environment, and economic actors must develop strategies accordingly. Tightening is not a policy aimed at stifling growth. It is a process to normalize an economy that has relied on excessive liquidity and debt, preparing for sustainable growth. Now, the crucial factor is not the decision of the Monetary Policy Committee itself, but how quickly we all adapt to the new economic order. The era of tightening is already at our doorstep. Only those who prepare can turn this change into an opportunity. 2026-07-14 10:44:00
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Koreans raid retirement savings to chase the stock bull SEOUL, July 14 (AJP) — South Koreans are dipping into pension and long-term funds to join the stock market rush, risking their retirement nest eggs as they chase short-term returns. The number of Koreans cashing out private retirement savings plans jumped 62.7 percent in the first five months of the year from a year earlier, while fund redemptions rose 47.3 percent, according to data submitted by the Financial Supervisory Service (FSS) and the Korea Securities Depository (KSD) released Tuesday by Rep. Song Eon-seok of the main opposition People Power Party. The data suggests many retail investors pulled money out of long-term savings to ride the stock rally despite the risks of a volatile market. Between January and May, 72,477 Koreans pulled out of their private retirement savings plans, up 62.7 percent from 44,554 a year earlier. Payouts from those early withdrawals rose 54.8 percent to 1.74 trillion won ($1.25 billion). Withdrawals from investment funds also accelerated. The number of fund redemptions rose 47.3 percent from a year earlier to 1.81 million during the January-May period, while the amount withdrawn surged 146.1 percent to about 2,786 trillion won. Song argued that the figures reflect expectations of further gains in the stock market, prompting many households to move money out of retirement savings plans and investment funds in search of higher returns. But a recent market correction, fueled by heavier foreign selling, a weaker won and the rapid expansion of single-stock leveraged exchange-traded funds, has left many of those investors nursing losses. "Many people cashed out retirement savings plans and redeemed investment funds to enter the stock market, only to find themselves caught in rising volatility that is now putting their retirement savings at risk," Song said. He urged the government to focus on building a stable and predictable investment environment rather than pursuing short-term measures to boost the stock market. As of 10:09 a.m. Tuesday, the benchmark KOSPI had recovered some of Monday's losses, rising 2.22 percent to 6,958.02 after the previous session's massive 8.95 percent selloff. The junior KOSDAQ, however, slipped 0.93 percent to 791.91. 2026-07-14 10:37:08