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  • Feds Waller: Rate Hike Consideration if Core Inflation Rises
    Fed's Waller: Rate Hike Consideration if Core Inflation Rises Christopher Waller, a member of the U.S. Federal Reserve, stated that if core inflation continues to rise, the central bank may need to consider increasing interest rates in the short term. The upcoming Consumer Price Index (CPI) report for June, set to be released on July 14, is expected to be a key factor in determining future rate direction.According to Reuters, Waller made his remarks during an event in New York on July 13. He noted, "If core inflation comes in high again this week, the Federal Open Market Committee (FOMC) will need to consider a rate hike in the short term."Waller assessed that while employment and consumer spending in the U.S. remain stable, inflationary pressures are re-emerging. The core Personal Consumption Expenditures (PCE) inflation rate increased from 3.0% in December of last year to 3.4% in May of this year.He identified factors contributing to rising prices, including tariffs and increasing energy costs.Waller expressed that if core inflation slows in the coming months, he would support maintaining current interest rates. Conversely, he emphasized that if inflationary trends persist, the Fed must be prepared to raise rates.* This article has been translated by AI. 2026-07-14 06:56:00
  • Putin Warns of Stronger Response to Ukrainian Drone Strikes
    Putin Warns of Stronger Response to Ukrainian Drone Strikes Russian President Vladimir Putin has warned that Russia will respond "several times more strongly" to Ukrainian drone strikes targeting the Russian mainland. His comments come amid fuel supply disruptions in some regions of Russia due to attacks on energy facilities.According to the TASS news agency, President Putin stated during a military event in Moscow on July 13 that "if Russia's territory is attacked, we will respond in kind, but with much greater force." He added, "The enemy will feel even greater blows in the future." Putin expressed confidence that Russian forces are continuing to advance on the Ukrainian front, asserting that victory is within reach.He also acknowledged that Ukraine's strikes have caused issues with the supply of petroleum products. However, he assured that a system is being established to ensure stable fuel supply across various regions of Russia, including Crimea, and that the situation is gradually improving.Recently, Ukraine has been intensifying its drone strikes on Russian energy infrastructure, including oil refineries and storage facilities.* This article has been translated by AI. 2026-07-14 06:48:00
  • Trump to Address Nation on July 16 Amid Rising Tensions with Iran
    Trump to Address Nation on July 16 Amid Rising Tensions with Iran President Donald Trump will deliver a national address on July 16. While the specific topic has not been disclosed, it is likely to focus on the escalating conflict between the United States and Iran.On July 13, Trump announced via social media platform Truth Social that he would speak at 9 p.m. local time, which will be 10 a.m. on July 17 in South Korea.On the same day, Trump outlined plans to restore a maritime blockade against Iran and impose transit fees on civilian vessels passing through the Strait of Hormuz. The proposal includes a 20% charge on the value of cargo as compensation for ensuring navigation safety.Recently, tensions between the U.S. and Iran have escalated, with both sides exchanging attacks on commercial vessels. Observers are keen to see if Trump will propose additional military measures or negotiation terms during his address.This upcoming speech marks Trump's first national address in over three and a half months, following his declaration on April 1 to maintain strong military pressure on Iran.* This article has been translated by AI. 2026-07-14 06:40:00
  • Trump Announces 20% Toll on Ships in Hormuz, Resumes Iran Blockade
    Trump Announces 20% Toll on Ships in Hormuz, Resumes Iran Blockade President Donald Trump has announced the resumption of a maritime blockade on ships traveling to and from Iranian ports. He also proposed a 20% charge on the value of cargo for civilian vessels passing through the Hormuz Strait in exchange for safety assurances. On July 13, Trump stated on social media platform Truth Social, "The Hormuz Strait is open whether Iran is there or not," and confirmed the reimplementation of the blockade against Iran. This move indicates a return to the maritime blockade that was lifted last month following a memorandum of understanding (MOU) with Iran. The aim is to exert pressure on Iran's oil exports and maritime trade by controlling ships entering Iranian ports. The U.S. Central Command (CENTCOM) is coordinating the specific procedures for enforcing the blockade. U.S. naval vessels are expected to participate in controlling ships traveling to and from Iranian ports. Trump stated that ships not associated with Iran would be allowed to transit the Hormuz Strait. However, he mentioned that the U.S. would charge a fee of 20% on the value of the cargo carried by these vessels in exchange for ensuring navigation safety. Details regarding the specific targets for the toll, the criteria for its assessment, the entities responsible for collection, and the implementation timeline have not been disclosed. It remains uncertain whether the U.S. can effectively collect 20% of the cargo value. This announcement has sparked controversy, especially since the U.S. has previously criticized Iran's plans to impose tolls in the Hormuz Strait. Last month, U.S. Secretary of State Marco Rubio stated, "No country can impose tolls or fees on international waterways." As the U.S. moves to resume the blockade and impose tolls simultaneously, backlash is anticipated not only from Iran but also from major trading nations that utilize the Hormuz Strait. The likelihood of U.S.-Iran tensions returning to levels seen before the MOU has increased.* This article has been translated by AI. 2026-07-14 06:32:00
  • Trump Warns of Continued Strikes Against Iran, Declares MOU a Failure
    Trump Warns of Continued Strikes Against Iran, Declares MOU a Failure President Donald Trump has warned of additional strikes against Iran for two consecutive days, declaring the recent Memorandum of Understanding (MOU) effectively a failure due to Iran's inability to meet its obligations.On July 13, during an appearance on the conservative radio program 'The Hugh Hewitt Show,' Trump stated, "We will hit them hard tonight and tomorrow as well." He downplayed Iran's capacity to respond, saying, "They can do nothing." Specific targets and the scale of the operations were not disclosed.Regarding the MOU, which was intended to facilitate a ceasefire, Trump remarked, "It was created to test Iran." He characterized the MOU as a preliminary step before a final peace agreement, asserting that it holds little significance. He added, "Iran did not respect the test and has failed it."Last month, the U.S. and Iran signed the MOU, aiming to halt military operations and normalize navigation in the Strait of Hormuz. However, recent exchanges of missiles and airstrikes have put the agreement on the brink of collapse.Iran has countered by claiming that the U.S. violated the agreement first. With Trump's announcement of further attacks, the prospects for resuming negotiations between the two sides appear increasingly bleak.* This article has been translated by AI. 2026-07-14 06:20:00
  • SK Hynix ADR Plummets 9.6% After Initial Surge
    SK Hynix ADR Plummets 9.6% After Initial Surge SK Hynix's American Depositary Receipts (ADR) fell more than 9% on their second day of trading, giving back most of the gains from the previous day and dropping to near the initial offering price.On July 13, local time, SK Hynix ADR closed at $151.93, down 9.57% from the previous trading day. This price is about 2% above the initial offering price of $149.On the first day of trading, July 10, SK Hynix ADR had surged 12.8%, closing at $168.01. However, it quickly surrendered a significant portion of those gains.The sharp decline seen in the domestic market also impacted the U.S. market. On the same day, SK Hynix's main stock fell 15.37% to 1,845,000 won.In the New York Stock Exchange, shares of Micron and Western Digital also dropped by more than 4%, reflecting a broader weakness in memory and storage-related stocks.Market analysts suggest that profit-taking has emerged among memory semiconductor stocks, which had previously surged on expectations of increased investment in artificial intelligence (AI). Concerns over high stock prices and adjustments in earnings expectations are also seen as factors contributing to the decline.Hebei Chen, a market analyst at Vantage Global Prime, stated, "SK Hynix is experiencing a cooling off from its rapid rise, and the market's expectations are being recalibrated."* This article has been translated by AI. 2026-07-14 06:16:00
  • Climate Minister Kim Seong-hwan: Environment and Energy No Longer Opposed
    Climate Minister Kim Seong-hwan: Environment and Energy No Longer Opposed Kim Seong-hwan, the Minister of Climate, Energy, and Environment, identified the integration of climate, energy, and environmental policies as the most significant change since the establishment of the climate ministry. Rather than pursuing environmental and energy policies separately, the government aims to design policies that consider both from the outset, striving to achieve carbon neutrality alongside industrial competitiveness.In an interview with Aju Economy, Kim stated, "Environment and industry, as well as energy, are no longer opposing concepts. I will work to ensure that South Korea transitions from an oil-based economy to an electric one, leading the shift towards a decarbonized green civilization."He explained that the decision-making process for policies has also changed significantly since the ministry's inception. Instead of addressing greenhouse gas reduction, renewable energy expansion, and ecosystem conservation separately, the government now considers climate, energy, and environmental factors comprehensively from the beginning of policy design and implementation.As a prime example, he cited the Nationally Determined Contribution (NDC) for 2035 established last year. "In the past, the environmental and energy sectors often negotiated from different positions, but since the climate ministry was established, we have discussed various opinions at the same table, setting reduction targets for the next decade that focus on energy transition centered on renewable energy, low-carbon fuels and materials in the industrial sector, and the expansion of electric vehicles and heat pumps," he explained.Kim added, "In the process of achieving carbon neutrality and energy transition, we will actively foster future energy industries such as solar power, wind power, and energy storage systems (ESS), while also creating new jobs and enhancing industrial competitiveness."Additionally, he emphasized the need to redefine the role of public power generation companies in promoting carbon neutrality and energy transition. Regarding the integration of five power generation companies, he stated, "The just transition from coal power must be pursued through discussions among the government, businesses, and local communities, and we are continuously gathering diverse stakeholder opinions."The government is currently reviewing plans to integrate power generation companies and aims to restructure them to play a more leading role in the expansion of renewable energy and the just transition.Kim also stressed that climate policy should simultaneously promote carbon reduction and climate adaptation. He noted, "The fundamental solution to the climate crisis is significant greenhouse gas reduction, but it is also crucial to implement climate adaptation policies to minimize harm to the public during this process. Reduction and adaptation are not mutually exclusive; they are two pillars that must be pursued together."The government plans to strengthen adaptation policies focusing on areas directly related to citizens' lives, such as floods, droughts, heatwaves, and cold snaps. Through summer flood measures, it will enhance the utilization of existing water management facilities like dams and reservoirs, while also improving the response to flood-prone areas and ensuring a stable supply of industrial, domestic, and agricultural water.Moreover, to prepare for heatwaves, the government will provide energy vouchers to vulnerable groups and expand community cooling centers, while also promoting the introduction of climate insurance. Kim concluded, "I will implement policies to ensure that the achievements in carbon neutrality and energy transition lead to an improvement in the quality of life for the public."* This article has been translated by AI. 2026-07-14 05:04:00
  • Taekwang Groups M&A Strategy Faces Challenges Amid Profitability Issues
    Taekwang Group's M&A Strategy Faces Challenges Amid Profitability Issues Taekwang Group's aggressive mergers and acquisitions (M&A) strategy is under scrutiny. Despite pursuing large-scale M&A deals this year to diversify its business, both the acquired companies and Taekwang Industries, the group's core subsidiary, continue to struggle with losses. The recent failure to acquire K Shipbuilding has raised concerns about the need to enhance profitability and investment efficiency over mere expansion.According to industry sources, Taekwang Group has achieved significant growth through large-scale M&A since last year. From last year to the first half of this year, the group has acquired Aekyung Industrial, the Courtyard Marriott Hotel in Seoul's Namdaemun, and Dong Sung Pharmaceutical, increasing its total assets from 8.7 trillion won in 2025 to 11.56 trillion won this year, a 33% rise.As a result, Taekwang's ranking in the business sector has jumped from 59th to 48th, and the number of its subsidiaries has grown from 20 to 38. This marks the largest growth in size among the conglomerates designated by the Fair Trade Commission this year.However, this expansion has not translated into improved profitability. Aekyung Industrial has seen its operating profit margin decline from 9.3% in 2023 to 6.9% in 2024, and further down to 3.2% last year, due to a slowdown in the cosmetics market and weak consumer demand. Dong Sung Pharmaceutical has also faced ongoing losses since 2018, necessitating urgent restructuring.Taekwang Industries, the M&A leader, has reported poor performance as well. The company recorded an operating loss of 35.4 billion won last year and continued this trend with a 11.4 billion won loss in the first quarter of this year. Analysts predict that the company will also face losses in the second quarter due to a delayed recovery in the petrochemical sector.Market observers believe the success of Taekwang Group's M&A strategy hinges on securing future investment resources. If the performance of the acquired companies does not improve, additional costs for restructuring will be unavoidable. Notably, Taekwang Industries has expressed interest in reattempting the acquisition of K Shipbuilding if it becomes available again, making the need for stable investment capacity essential.Previously, Taekwang Industries sought to acquire K Shipbuilding but failed to finalize the deal due to issues related to the consortium structure and refund guarantees.Taekwang Industries plans to utilize its treasury shares to continue pursuing additional M&A and new business investments. However, the second-largest shareholder, Truston Asset Management, has strongly opposed this plan, citing concerns over shareholder value, leaving the feasibility of these plans uncertain.One industry insider noted, "While size can be increased in the short term, profitability ultimately requires time. The profitability of existing investments like Aekyung Industrial and Dong Sung Pharmaceutical must be demonstrated first to gain market support for future acquisitions or additional investments, such as K Shipbuilding."* This article has been translated by AI. 2026-07-14 05:04:00
  • Korean Minister Kim Seong-hwan: Dam Heightening Possible Within Five Years to Supply Water and Power for Semiconductor Industry
    Korean Minister Kim Seong-hwan: Dam Heightening Possible Within Five Years to Supply Water and Power for Semiconductor Industry Minister of Climate, Energy and Environment Kim Seong-hwan stated that increasing the height of existing dams is a more feasible solution than constructing new ones, allowing for timely supply of water and power needed for the semiconductor industry. "Building a new dam takes about 10 years, but by reducing the permitting and construction periods, we can complete heightening existing dams within five years. We will ensure a steady supply of water in line with the timing of corporate demand," he said in an interview with Aju Economy.Kim proposed heightening existing dams as a key solution for securing stable water supply for the Southwest Semiconductor National Advanced Industrial Complex. This plan aims to provide 650,000 tons of industrial water daily, halving the project timeline compared to new dam construction.The minister also emphasized the importance of expanding power infrastructure in a timely manner to support the semiconductor industry. He outlined plans to build transmission and transformation networks in alignment with corporate investment schedules to ensure a stable power supply.Below is a Q&A with Minister Kim:- You plan to supply 650,000 tons of water daily to the Southwest Semiconductor Complex. What is the overall direction of this initiative?"We plan to supply 650,000 tons daily through heightening the Dongbok Dam and utilizing surplus water from existing dams, as well as converting water releases from power generation dams. To ensure water supply, we will expedite administrative procedures such as feasibility studies and changes to the basic water supply plan, while adhering to legal frameworks. Our goal is to promptly advance related procedures to prevent delays in infrastructure development and to supply water without disruption in line with corporate demand. We will work closely with local governments and relevant ministries to ensure smooth progress of the project."- Why did you choose to heighten existing dams instead of building new ones?"Heightening existing dams has advantages over new dam construction, including reduced permitting processes, shorter construction times, and lower costs. While new dam construction takes about 10 years, heightening can be completed within five years if we streamline the permitting and construction periods. Considering the timing of water demand in the semiconductor industry, utilizing existing infrastructure is a more efficient approach."- There are concerns from the agricultural sector about converting some agricultural water from Naju Lake for the semiconductor complex."We plan to convert some agricultural water from Naju Lake for the semiconductor complex while installing alternative supply facilities on the Yeongsan River to ensure there is no disruption in agricultural water supply. This alternative supply will also help alleviate water shortages at the reservoir's lower end and enhance drought response capabilities through modernization of agricultural infrastructure, benefiting farmers. We will actively communicate with farmers and incorporate their feedback moving forward."- Climate change is causing more frequent droughts. Can we ensure stable supply of industrial, domestic, and agricultural water?"Following the drought in 2022-2023, we are implementing measures to ensure stable water supply in the Yeongsan and Seomjin River basins, continuously improving water supply capacity in these areas. We have already expanded supply capacity by about 100,000 tons through emergency connection facilities linking the Yeongsan River and Gwangju Yongyeon Water Treatment Plant, and we are also working on a project to increase supply capacity by 115,000 tons through modernization of local water supply systems. In the future, we plan to pursue a strategy that integrates large agricultural dams with the Yeongsan River. We will continuously enhance our response system to ensure stable supply of domestic, industrial, and agricultural water even during droughts."- The Southwest Semiconductor Complex faces challenges not only in water supply but also in ensuring stable power supply. What are your plans for stable power supply?"As the semiconductor industry is a national strategic sector, establishing a stable power supply base in a timely manner is crucial. We will first address the additional power demand expected by 2030 through current generation capacity and the commissioning of two new nuclear power plants (2.8 GW), along with early deployment of renewable energy. We will then detail long-term power supply plans in the 12th Basic Plan for Power Supply and Demand to accommodate increasing demand. To address the variability of renewable energy, we will expand flexible resources such as energy storage systems (ESS) and pumped storage. We also plan to build transmission and transformation facilities in a timely manner to match corporate power needs. Currently, we are considering early construction of two substations and a 345 kV supply line, and we will proactively expand power infrastructure in anticipation of future demand."- Concerns have been raised that regional electricity rates may benefit areas with abundant power supply but burden regions like the capital area. How are you designing the regional electricity rate system?"I believe that regional electricity rates are a key tool in the 'local production, local consumption' policy, which comprehensively reflects the structure of the power system, self-sufficiency rates, and national balanced development factors. From the perspective of national balanced growth, we aim to reduce industrial electricity rates in non-capital areas with abundant power supply to encourage the dispersion of power demand. Since this system will also impact the location of advanced industries and national balanced development, we will gather sufficient opinions from the industry and regions to establish a plan by the end of the year."- There is increasing demand from companies for compliance with RE100 (100% renewable energy usage). How do you plan to expand renewable energy deployment?"To respond to companies' RE100 compliance demands, we will rapidly expand renewable energy deployment, focusing on solar power. The government, local governments, and public entities will work together to achieve the early deployment of 100 GW of renewable energy. In particular, we will identify large-scale projects in areas with grid capacity, such as the capital region, to create ultra-large renewable energy flagship complexes and actively explore new sites for agrivoltaics and floating solar. We also plan to maximize the use of idle spaces such as factory rooftops, roads, railways, schools, and parking lots. For wind energy, we will support timely completion through close management of the entire process, including expedited permitting, and will also expand the infrastructure for deployment, including ports and vessels, to accelerate the pace of renewable energy expansion."- Are you also pursuing institutional improvements to reduce the burden of RE100 on companies?"We plan to implement various institutional improvements to lower renewable energy costs, enabling companies to maintain competitiveness while complying with RE100. We will unify the renewable energy certificate (REC) system and spot market into a long-term fixed-price contract through competitive bidding to lower generation costs and mitigate business risks. Additionally, we will create an environment that allows companies to utilize renewable energy more stably by addressing location uncertainties through planned site introduction, reducing rental fees for renewable energy projects on public land, and providing policy financing support for medium and large projects."* This article has been translated by AI. 2026-07-14 05:04:00
  • Ahmadinejads Ambitions for Power and Relations with Israel
    Ahmadinejad's Ambitions for Power and Relations with Israel Mahmoud Ahmadinejad, the former president of Iran, who recently appeared at the funeral of former Supreme Leader Ayatollah Ali Khamenei, harbored ambitions to return to power with the help of foreign forces, according to a report by The New York Times on July 13. Ahmadinejad reportedly envisioned a reform agenda that included normalizing relations with Israel if he were to regain the presidency. This news follows a report two months ago that revealed attempts by the U.S. and Israel to reinstate Ahmadinejad in Iran's leadership.According to the newspaper, Israel's outreach to Ahmadinejad began in 2024 during a climate change conference at Hungary's Ludovika Public Service University. The Hungarian government had requested this event to facilitate a secret meeting between Ahmadinejad and agents from Israel's Mossad intelligence agency in Budapest. Gergely Deli, the university's president, stated in an interview with NYT, "If two enemies want to talk, the best way is to facilitate that conversation." During this meeting, David Barnea, the head of Mossad, personally traveled to Hungary to meet with Ahmadinejad.Following this, Israel decided to support a regime change centered around Ahmadinejad. Reports indicate that Israel secretly provided him with housing and travel expenses, and Israeli agents met with him abroad, including in Budapest. On February 28, the day of an Israeli airstrike, an operation was executed to rescue him from house arrest, which was under the surveillance of the Islamic Revolutionary Guard Corps. Four senior Iranian officials reported that after the airstrike on his home, a black Peugeot vehicle driven by Mossad agents picked up Ahmadinejad and sped away. However, Ahmadinejad expressed displeasure with both the operation and Israel's plans to restore him to power.Given Ahmadinejad's past, his communication with Israel seems unlikely. During his presidency, he made inflammatory statements, claiming that the U.S. orchestrated the 9/11 attacks to support Israel and called for Israel to be "wiped off the map." He also violently suppressed protests against his re-election in 2009.Abdolreza Davari, a close aide to Ahmadinejad, analyzed that his desire for power led to his communication with Israel. After being rejected in three presidential bids, Ahmadinejad became disillusioned with the current theocratic regime led by clerics and sought to become Iran's future leader with foreign assistance, according to NYT. Davari stated, "Ahmadinejad has money and a vast economic network. What he wanted was power."Ahmadinejad also compared himself to former Russian President Boris Yeltsin, who led reforms and openness during the dissolution of the Soviet Union in the 1990s. He indicated that if he were to return to power, he would recognize Israel as a state and normalize relations with Israel as part of the Abraham Accords signed by President Donald Trump with Middle Eastern countries.Before his contacts with Israel through Hungary, Ahmadinejad attended an environmental conference in Guatemala in 2023, noted for being a pro-Israel country in Latin America. At that time, he faced difficulties at Tehran airport, where security authorities initially denied him a boarding pass, leading to a several-hour standoff before he could depart.After the failed Israeli operation to reinstate him, Ahmadinejad reportedly returned to house arrest. He was seen on July 6 at Khamenei's funeral in Tehran, where he walked among mourners, lowering his mask and keeping his head down. Iranian news outlet IranWire commented that Ahmadinejad's attendance at the funeral reflects a complex survival strategy among marginalized elites navigating an unstable transition under a new regime. Former presidents Hassan Rouhani and Mohammad Khatami were not invited to the event, according to NYT. 2026-07-14 05:04:00