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  • Post Offices to Offer Bank Loan Services in Rural Areas
    Post Offices to Offer Bank Loan Services in Rural Areas Starting next week, residents in rural and declining population areas will be able to access bank loan services at their local post offices.The Financial Services Commission announced on July 13 that it has signed a memorandum of understanding (MOU) with the Korea Post, the Financial Settlement Agency, and major banks including KB Kookmin, Shinhan, Woori, and Hana. The pilot program for bank agency services will begin on July 20 at 20 post offices in areas experiencing population decline. Under this system, post offices will handle loan consultations, applications, and agreements on behalf of banks.To minimize inconveniences during the initial phase of the program, the Financial Services Commission has designated dedicated personnel for bank agency services at each post office. Training sessions were conducted in May and June, and a hotline connecting post offices with nearby bank branches has been established. For the first one to two weeks after the launch, bank staff will be dispatched to post offices to assist with loan consultations, applications, and agreement processes.Initially, the loan processing period will require a minimum of two days, but plans are in place to implement digital documentation and a large-scale file transfer system by the end of the year to expedite this process.The Financial Services Commission intends to review the results of the pilot program and expand the areas and products offered under the bank agency business next year. The services currently available in declining population areas will be extended to other regions, and the range of products will be broadened from personal loans to include loans for individual business owners, in consultation with relevant agencies.Kim Jin-hong, Director of the Financial Industry Bureau at the Financial Services Commission, stated, "The bank agency pilot program is a viable alternative to enhance financial accessibility for residents in areas without nearby bank branches. I urge thorough final checks on staff training, IT systems, and consumer guidance systems before implementation." 2026-07-13 13:40:00
  • Samsung and SK Hynix Stocks Plunge Despite Strong Earnings and Successful ADR Debut
    Samsung and SK Hynix Stocks Plunge Despite Strong Earnings and Successful ADR Debut Samsung Electronics' better-than-expected earnings and SK Hynix's successful debut on the U.S. stock market could not prevent a sharp decline in their stock prices. Reuters, AP, The Wall Street Journal (WSJ), and the Financial Times (FT) identified concerns over slowing memory price increases, uncertainties regarding high-bandwidth memory (HBM)4 shipments, and tensions in the Middle East as major risks.According to AP, on the afternoon of July 13, SK Hynix's stock fell by 10.6%, while Samsung Electronics dropped by 6.7%. The KOSPI index also declined by 5.6%. Following a recent surge in semiconductor stocks, profit-taking occurred amid escalating tensions between the U.S. and Iran.The first warning highlighted by foreign media is the slowdown in profit growth. Reuters noted, "Samsung's operating profit for the second quarter was expected to increase nearly 19 times compared to the same period last year, but it did not meet investors' high expectations." The market is currently more sensitive to the possibility of slower growth in the second half than to current performance.Memory supply remains tight, and both DRAM and NAND prices are expected to remain strong for the time being. However, Reuters reported that "as prices for PC and smartphone components rise, customers are becoming cautious about additional purchases."Views among analysts are mixed. JP Morgan, cited by Reuters, predicted that "memory prices will support second-half performance as supply fails to keep up with demand." In contrast, Kiwoom Securities lowered its target price for Samsung Electronics by about 9%, citing increased price burdens on customers.The second warning involves the selling pressure following SK Hynix's American Depositary Receipt (ADR) listing. ADRs are securities that allow foreign company stocks to be bought and sold on U.S. exchanges. SK Hynix's ADR finished its first day on Nasdaq on July 10 at a price 12.8% higher than the offering price.However, there is a growing perception that the expectations for the listing have already been factored into the stock price. Reuters analyzed that "as the entry into the U.S. market was completed, investors began to sell their previously rising stocks to realize profits."HBM4 supply has also emerged as a variable. The market expected a significant increase in shipments starting in the second quarter. However, Reuters reported that "the increase in shipments was not as large as anticipated, leading to a downgrade in SK Hynix's earnings outlook."The third warning pertains to the geopolitical situation in the Middle East and the burden of AI spending. AP reported that "as the U.S. and Iran exchanged airstrikes again, Brent crude oil rose by about 4%, and Asian markets showed widespread weakness." The rise in oil prices raises concerns about inflation and the potential for prolonged high interest rates, which weighed on the market.The significant market share of Samsung Electronics and SK Hynix in the KOSPI index also amplified the impact of the declines. WSJ noted that "the recent drop in the KOSPI has been heavily influenced by profit-taking in these two semiconductor stocks, which have a high index weight."FT also identified the high valuations of AI semiconductor stocks and the concentration of funds in specific stocks as risk factors. Major Asian semiconductor companies, including Samsung Electronics and SK Hynix, have surged in a short period, prompting some global asset managers to reduce their investment proportions.Future stock prices will also be influenced by AI spending from major U.S. tech companies. AP reported that "there are growing doubts about whether the massive funds invested globally in semiconductors and data centers will yield corresponding productivity and profits."Foreign media do not view this sharp decline as a signal of the end of the semiconductor boom. They expect that the ongoing memory supply shortage and demand for AI data centers will continue to support the profits of both companies for the time being. However, WSJ and FT cautioned that "given the recent historic surge and increased valuations, significant fluctuations may occur."Ultimately, the potential for a rebound will depend on third-quarter memory prices, HBM4 supply levels, and the AI spending plans of major U.S. tech companies. Additionally, if tensions surrounding the Strait of Hormuz persist, domestic semiconductor stocks may experience significant volatility for the foreseeable future.* This article has been translated by AI. 2026-07-13 13:36:00
  • Lotte Wellfood Reports 28% Revenue Growth in India After One Year of Operations
    Lotte Wellfood Reports 28% Revenue Growth in India After One Year of Operations Lotte Wellfood announced on July 13 that its Indian subsidiary, Lotte India, which was formed by merging its confectionery and ice cream businesses, saw a revenue increase of approximately 28% in the first half of this year compared to the same period last year. The company attributes this growth to its 'One India' strategy, which focuses on enhancing local production infrastructure and improving distribution efficiency.By business segment, the ice cream division led the growth with a 29% increase in sales. The stabilization of production at the Pune ice cream plant, which began full operations in February of last year, contributed significantly to this success. Production volume in the first half of this year rose by about 85% compared to the same period last year. This expansion in production capacity allowed the company to meet the local demand during the peak ice cream season, resulting in increased sales.Lotte Wellfood is expanding its product offerings in India, focusing on Lotte-branded items such as the Crunchy (local name), Watermelon Bar, and Jaws Bar (local name: Shark) from its Pune plant.The confectionery division also experienced a 26% increase in sales compared to the previous year, bolstered by an expansion into traditional retail channels. To maintain this growth trajectory, Lotte Wellfood is preparing to fully operate four lines of Lotte Choco Pie at its Rohtak plant in Haryana.To maximize the operational efficiency of its integrated Indian subsidiary, Lotte Wellfood plans to continue consolidating its distribution network across southern, northern, and western regions. Additionally, the company aims to enhance profitability through logistics and production optimization while increasing market dominance around key brands such as Pepero and Crunchy. Based on this strategy, Lotte India has set a goal to achieve annual sales of 1 trillion won by 2032.A representative from Lotte Wellfood stated, "Since the launch of the integrated subsidiary, production efficiency and distribution competitiveness have significantly improved. We plan to continue expanding our core brand offerings based on infrastructure synergies to penetrate the Indian market further."Last July, Lotte Wellfood completed the merger process of its Indian subsidiary, Lotte India, and Havmor, leading to the establishment of the integrated confectionery and ice cream corporation.* This article has been translated by AI. 2026-07-13 13:32:00
  • Seragem Launches Master V7 2027 with Enhanced Massage Modes and Design
    Seragem Launches 'Master V7 2027' with Enhanced Massage Modes and Design Seragem announced the launch of its spine care medical device, the 'Master V7 2027,' on July 13.The new product is the latest model of the Master V7, which has received medical device certification from the Ministry of Food and Drug Safety. The Master V7 is certified for five therapeutic purposes, including assistance in treating intervertebral disc herniation and degenerative stenosis, alleviating muscle pain, improving blood circulation, and aiding in menstrual pain relief.This product expands the number of massage modes from 20 to 24 and enhances targeted care modes for areas such as the neck, shoulders, waist, and pelvis.The design is crafted to harmonize with living spaces, featuring new colors like a calm, deep mahogany brown and a bright, comfortable linen beige, along with a perforated mat design.A launch event will be held in conjunction with the 'Seragem Summer Festival,' running until August 2. During this period, the device will be available for a one-time payment of 5.3 million won or a subscription price of 106,000 won per month. Family benefits, trade-in programs for other products, and package purchase options will also be offered. The first 500 customers who purchase the Master V collection, including the new product, will receive a circulator as a gift.A Seragem representative stated, "The required care methods vary depending on a person's activities and physical condition. Since this is a product intended for regular use at home, harmony with the living space is also an important selection criterion. The Master V7 2027 reflects this, allowing for seamless integration of spine care into daily life."* This article has been translated by AI. 2026-07-13 13:24:00
  • Rising Uncertainty in Hormuz Strait as U.S.-Iran Tensions Escalate
    Rising Uncertainty in Hormuz Strait as U.S.-Iran Tensions Escalate As tensions between the United States and Iran escalate, uncertainty surrounding oil supply in the Hormuz Strait is increasing. While the immediate risk of supply disruptions is low, concerns are growing that if instability in the Middle East deepens, securing supplies and managing prices could become challenging after September.On July 13, the Ministry of Trade, Industry and Energy reported that Deputy Minister Moon Sin-hak held an emergency meeting with officials from the Korea National Oil Corporation, the Korea Petroleum Association, and the oil and shipping industries to assess the current oil supply situation. This meeting follows Iran's recent declaration to re-block the Hormuz Strait and attacks on passing vessels, coupled with U.S. airstrikes against Iran.The government currently views the domestic supply situation as stable. The oil imports secured by the refining industry for July and August are more than double those of the same period last year, alleviating short-term supply concerns.However, international oil prices are under renewed upward pressure, with prices rising by over 3% on the day. Only six vessels passed through the Hormuz Strait recently, marking the lowest number in five weeks.The critical period will be after September, when new contracts and shipments are expected, as opposed to the already contracted July and August supplies. There is a time lag from contract to shipment, transportation, and customs clearance. If disruptions in the Strait continue, competition among countries and refiners for alternative oil supplies may intensify. Even if supplies can be secured, rising freight and insurance costs could increase import prices.The International Energy Agency (IEA) has projected a rapid recovery in oil demand as summer progresses. In the second quarter of this year, global oil demand fell by 4.8 million barrels per day compared to the same period last year. However, demand has shown signs of recovery since hitting a low in May. In contrast, global refinery utilization rates last month decreased by 6 million barrels per day compared to a year ago, with delays in the restart of Middle Eastern export refineries.Concerns about inventory levels are also present. In June, global oil inventories increased by 21 million barrels, thanks to a rise in maritime stocks, marking the first increase in four months. However, inventories in OECD member countries fell by 62 million barrels, of which 44 million barrels were from government stock releases. Although total inventory figures have increased, the readily available land stocks and strategic reserves continue to decline.As a result, there are worries that a renewed supply shock from the Middle East could weaken the market's buffer capacity. Particularly, if summer travel demand rebounds while refinery operations face disruptions, volatility in prices for crude oil as well as gasoline and diesel could increase.The government plans to establish a real-time communication system with the industry to monitor the situation in the Middle East and the status of tanker passages, while also exploring options for securing alternative supplies. Deputy Minister Moon stated, "The government and the refining and shipping industries must communicate closely to ensure there is no disruption to the public's daily life, and we will thoroughly monitor supply trends. We aim to diversify oil import sources and fundamentally improve the oil industry's resilience to establish energy security that can withstand any crisis."* This article has been translated by AI. 2026-07-13 13:20:00
  • Samsung Electronics Shares Plunge to 259,000 Won: Is This a Buying Opportunity?
    Samsung Electronics Shares Plunge to 259,000 Won: Is This a Buying Opportunity? The KOSPI index fell below the 7,000 mark, leading to a nearly 9% drop in Samsung Electronics' stock price during trading. Some investors are asking, "Is now the time to buy the dip?" while others express caution due to ongoing uncertainties in the semiconductor market.On July 13, the domestic stock market experienced strong selling pressure, particularly in the semiconductor sector. The KOSPI index dropped below 7,000, and Samsung Electronics' stock fell nearly 9% from July 10, reaching a low of 259,000 won. Major semiconductor stocks, including SK Hynix, also showed weakness, significantly dampening investor sentiment.Analysts attribute this decline to three main factors:The concern over a peak-out in the semiconductor market. Recent forecasts suggest that the memory semiconductor sector may have passed its peak, leading to a wave of profit-taking.The burden of heightened earnings expectations. Even if Samsung Electronics reports solid earnings, the market's high expectations have resulted in a situation where good performance does not translate into positive stock movement.Large-scale selling by foreign and institutional investors. Foreign and institutional investors have been aggressively selling semiconductor stocks, and the volatility of single-stock leveraged ETFs has exacerbated the decline.Additionally, there are concerns about whether investments in AI infrastructure will continue in the long term and whether the rise in memory prices will slow down, further cooling investor sentiment.Toss Securities noted, "The concerns over a peak-out in the semiconductor market and the burden of heightened earnings expectations have contributed to Samsung Electronics' decline. Despite solid earnings, semiconductor stocks have not risen, highlighting fears of a memory peak-out, concerns over excessive investment in AI infrastructure, and high valuation pressures." They added, "In the domestic market, the net selling by foreign and institutional investors and the volatility created by single-stock leveraged ETFs have amplified Samsung Electronics' decline."Online, individual investors expressed mixed opinions. Some stated, "Ultimately, Samsung Electronics will survive. Days like this are buying opportunities," and "You have to buy in fear to make money," suggesting that long-term investors should consider this a good time to buy. Others cautioned, "If the peak-out is accurate, we may not have hit the bottom yet," and "In a market where stock prices fall despite good earnings, hasty buying can be risky. We need to see if foreign selling stops first."Market analysts believe that Samsung Electronics, with its diverse portfolio in memory semiconductors, foundry, display panels, smartphones, home appliances, and automotive components, has not significantly lost its long-term competitiveness. However, they note that in the short term, the semiconductor market and changes in foreign investment will be key factors influencing stock price recovery.Samsung Electronics is a global electronics company focusing on memory semiconductors, foundry services, display panels, smartphones, home appliances, and automotive components. As the top stock by market capitalization in the domestic market, its recent decline has significantly impacted overall investor sentiment in the KOSPI.* This article has been translated by AI. 2026-07-13 13:20:00
  • Hyundai Elevator Executives Purchase 14,500 Shares to Enhance Accountability
    Hyundai Elevator Executives Purchase 14,500 Shares to Enhance Accountability Hyundai Elevator's entire executive team has voluntarily purchased company shares as part of their commitment to enhancing corporate value.According to the Financial Supervisory Service's electronic disclosure system on July 13, CEO Cho Jae-cheon and over 30 executives acquired approximately 14,500 shares. The purchases were made through on-market transactions over the past week, starting July 6.This share acquisition reflects the management's voluntary effort to strengthen accountability and restore market trust while protecting shareholder rights. It is seen as a direct message to the market regarding the company's fundamental competitiveness and long-term growth potential.Despite a global economic slowdown and a downturn in related industries, Hyundai Elevator has maintained a solid performance. The company aims to transparently share its achievements with shareholders through an active shareholder return policy, seeking fair valuation in the capital markets.Hyundai Elevator is also developing various innovative technologies in preparation for future smart city construction. Notable projects include the world's first commercial installation method for high-rise modular elevators, known as 'InnoBlock,' delivery robot integration technology, and the vertical takeoff and landing port 'H-PORT,' which serves as a key infrastructure for urban air mobility (UAM).A representative from Hyundai Elevator stated, "The voluntary share purchase by the entire executive team demonstrates a strong belief in the company's long-term growth and corporate value. We will diligently implement various shareholder return policies to establish ourselves as a model company for value enhancement."Additionally, Hyundai Elevator announced its medium-term shareholder return policy for 2026-2028, committing to utilize over 50% of its consolidated net income for cash dividends and share buybacks or retirements. The company has also set a minimum dividend of 2,500 won per share, enhancing predictability for shareholder returns.* This article has been translated by AI. 2026-07-13 12:36:00
  • South Korean Companies Reshape Investments in Vietnam, Shifting Focus to Semiconductors and Energy
    South Korean Companies Reshape Investments in Vietnam, Shifting Focus to Semiconductors and Energy South Korean companies are expanding their investments in Vietnam beyond simple assembly operations to include semiconductors, advanced materials, and energy infrastructure. Recent investments signify a shift not only in scale but also in the types of products and roles these companies are pursuing. Moving away from a focus on mobile phone assembly and labor-intensive production, investments are now targeting semiconductor backend processes, display materials, package substrates, and power infrastructure for AI industrial complexes.According to recent reports from local Vietnamese media, South Korean firms have been announcing new investments and factory construction schedules in Vietnam. While past investments were concentrated on labor-intensive sectors such as garment manufacturing, footwear, and mobile phone assembly, the current trend is shifting towards high-value areas like semiconductor backend processes, display materials, and essential components.Samsung, as the largest foreign direct investor in Vietnam, has expressed its commitment to further investment. Park Soon-cheol, Samsung Electronics' Chief Financial Officer, met with Ngo An Tuan, Vietnam's Minister of Finance, on July 2 to discuss business and investment plans in Vietnam. During this meeting, Samsung announced plans for approximately $1 billion in new investments by the end of the year.As of the end of last year, Samsung's cumulative investment in Vietnam reached $24 billion. The company currently operates six factories and a research and development center in the country, indicating its intention to continue long-term investments through its subsidiaries, including Samsung Electronics, Samsung Display, and Samsung Electro-Mechanics.Additionally, Douyin Systems, a supplier for Samsung Display, is expanding its production base for ultra-thin glass (UTG), a key material for foldable phones. On July 8, Douyin Systems held a groundbreaking ceremony for its second factory in the Song Cong II Industrial Park in northern Thai Nguyen Province. The second phase of investment amounts to $130 million, bringing the total investment for both phases to $250 million. Ok Kyung-seok, CEO of Douyin Systems, stated at the ceremony, "The construction of the second factory is a proactive investment in anticipation of future UTG market expansion." This investment exemplifies the company's efforts to enhance its production capacity for key materials linked to the foldable phone market.LG Innotek is also advancing its semiconductor package substrate project in Hai Phong. In March, LG Innotek announced plans to invest a total of $1 billion in a factory in the Nam Dinh Vu Industrial Park in Hai Phong. The site covers an area of 323,812 square meters, equivalent to 43 soccer fields. The Hai Phong City Committee approved this project on July 3 as the first project in the Hai Phong Free Trade Zone. Local media reports indicate that with LG joining the ranks of Intel, Amkor, and Samsung, the semiconductor supply chain in Vietnam is becoming more robust.SK Innovation is accelerating its investments in Vietnam's energy infrastructure. In May, a consortium involving SK Innovation, Vietnam's state-owned power company PV Power, and local partner NASU announced the launch of the $2.3 billion Kien Lap LNG (liquefied natural gas) project in the Tan Mai area of Nghe An Province.This project aims to establish a 1.5 GW LNG combined cycle power plant and LNG terminal in the Kien Lap area, located about 220 kilometers south of Hanoi. The goal for commercial operation is set for December 2030. SK Innovation described this project as a realization of the "specialized energy-industrial cluster" proposed by the SK Group to the Vietnamese government. The electricity generated at the plant will be supplied to nearby advanced industrial complexes, and the project plans to implement a "Korean-style AI full-stack" value chain to support the industrial advancement of Vietnam.Investment Focus Shifts from Scale to Product TypesThe key aspect of the recent investment trend is the change in product focus rather than just the amount of investment. While South Korean investments in Vietnam have been substantial for some time, there is now a noticeable shift from assembly and low-value production to semiconductor backend processes, display materials, essential components, and energy infrastructure.LG Innotek's package substrates are in high demand due to the growing need for AI servers, while Douyin Systems' UTG is directly linked to the foldable phone market. SK Innovation's LNG project aligns with plans to establish industrial infrastructure that includes advanced industrial complexes and AI data centers. Locally, South Korean investments are seen as part of the expansion of the semiconductor ecosystem in Vietnam. The country, once viewed as a labor-intensive production base, is transitioning into a supply chain hub that includes design, verification, and packaging.Notably, LG Innotek's investment strategy illustrates the division of roles between South Korea and Vietnam. The company has designated its facility in Gumi, South Korea, as a mother factory responsible for new technologies and high-value products, while the Hai Phong facility in Vietnam operates as a mass production base for general products. The semiconductor substrate line in Gumi is currently operating at near maximum capacity.In this structure, new product development and high-complexity processes are handled domestically, while mass production to meet demand is carried out in Vietnam. If high-value processes and research and development functions remain in South Korea, it could impact technology accumulation and the retention of key jobs. However, as mass production continues to shift overseas, the role of domestic production bases is inevitably changing.Meanwhile, South Korea maintains its status as the largest foreign investor in Vietnam. As of May, Choi Young-sam, South Korea's ambassador to Vietnam, reported that South Korea's cumulative investment in Vietnam has reached $101 billion. Last year, the number of mutual visitors between the two countries exceeded 5 million, and trade volume reached $89 billion.* This article has been translated by AI. 2026-07-13 12:32:00
  • Retail Sector Anticipates Recovery Amid Summer Vacations and Chuseok
    Retail Sector Anticipates Recovery Amid Summer Vacations and Chuseok The retail sector is expected to show signs of recovery in the third quarter, particularly in offline formats such as department stores, convenience stores, and hypermarkets. This optimism is attributed to the summer vacation season, the early Chuseok holiday, and an increase in foreign tourists.According to a survey conducted by the Korea Chamber of Commerce and Industry on 500 retail companies, the Retail Business Sentiment Index (RBSI) for the third quarter is projected to be 92, a 12-point increase from 80 in the previous quarter.The RBSI is based on a scale of 100; a score above 100 indicates a positive outlook for the upcoming quarter, while a score below 100 suggests a negative outlook.The Chamber of Commerce noted that the influx of foreign tourists, the seasonal boost from summer vacations, and the anticipated consumer spending during the Chuseok holiday from September 24 to 26 have contributed to this recovery in sentiment.Among the 178 companies that expect improved conditions in the third quarter, 80.3% cited increased demand due to summer vacations and holidays as the primary reason. Additionally, 57.9% pointed to improved consumer sentiment.Department stores showed the most optimistic outlook, with an RBSI rising from 115 in the second quarter to 139 in the third quarter, remaining above the benchmark of 100.The increase in foreign tourists, driven by the global spread of K-culture and a weaker Korean won, is expected to boost shopping demand at department stores. From January to May this year, the number of foreign tourists visiting Korea reached 8.716 million, a 21% increase compared to the same period last year. Spending by foreign tourists using credit cards also rose by 47.3% to 7.9845 trillion won.Shopping accounted for the largest share of foreign tourist spending at 45%, followed by food and beverages at 15.3% and accommodation at 14.0%.The outlook for convenience stores also improved significantly, with the index jumping from 85 in the second quarter to 127 in the third quarter. This reflects expectations for increased sales of summer beverages and ready-to-eat meals. The popularity of convenience stores as a key destination for foreign tourists is also seen as a factor for revenue growth.Hypermarkets saw their index rise from 66 to 112, surpassing the benchmark. The early Chuseok holiday is expected to create a peak season effect, while high inflation has increased demand for warehouse-style stores. There are also expectations for regulatory improvements to ensure fair competition among online and offline retailers.In contrast, supermarkets only saw a slight increase from 80 to 85, remaining below the benchmark. Despite expectations for demand during the vacation and holiday seasons, intensified competition from hypermarkets, online shopping, and convenience stores in the fresh food market has impacted their outlook.The online shopping index remained stagnant at 74, reflecting concerns over declining profitability amid increasing competition from low-cost overseas platforms and delivery services. Additionally, the rise in outdoor activities during the summer has shifted some consumer demand to offline channels like convenience stores.Lee Seung-ryun, head of the retail logistics policy team at the Chamber of Commerce, stated, "To translate expectations for domestic recovery into actual consumption, it is essential to successfully host nationwide shopping festivals like the Korea Grand Festival and to expand the global presence of retail and consumer goods companies. It is also important to develop retail infrastructure in line with regional balanced development policies." 2026-07-13 12:32:00
  • Employment Insurance Enrollment Rises by 264,000 for Six Consecutive Months, Youth Employment Declines for 46 Months
    Employment Insurance Enrollment Rises by 264,000 for Six Consecutive Months, Youth Employment Declines for 46 Months Last month, the number of regular enrollees in employment insurance increased by 264,000, marking six consecutive months of growth in the high 200,000s. However, the manufacturing and construction sectors continue to experience declines, and the youth employment crisis persists. According to the Ministry of Employment and Labor's report on labor market trends based on June 2026 employment administrative statistics, the number of regular enrollees in employment insurance reached 15,855,000 at the end of last month, an increase of 264,000 compared to the same period last year. The increase in the number of enrollees has consistently been in the high 200,000s since January. The growth in employment insurance enrollees was primarily driven by the service sector, which saw an increase of 279,000 workers (2.6%) year-on-year, bringing the total to 11,122,000. Most sectors, including health and welfare (112,000), accommodation and food services (55,000), and business services (26,000), reported growth. Chun Kyung-ki, head of the Ministry's Future Employment Analysis Division, noted, "The increase in foreign tourists visiting since February, averaging 2 million per month, has significantly boosted the domestic industry more than expected." In contrast, the manufacturing sector has seen a decline for 13 consecutive months, with a larger drop last month. The number of manufacturing enrollees fell by 9,000 to 3,839,000 compared to the previous year. The decline has been accelerating, with decreases of 2,200 (February), 3,900 (March), 6,600 (April), 8,400 (May), and 9,000 (June). Within the manufacturing sector, the performance varied by industry. The semiconductor sector added 5,000 enrollees, while the electronics and communications sector saw an increase of 2,900. Additionally, the shipbuilding and other transportation equipment sectors have shown growth for 43 consecutive months. However, declines continued in textiles (-3,000), chemicals (-2,400), and metal processing (-3,700). By gender, male enrollees numbered 8,660,000, an increase of 82,000, while female enrollees reached 7,194,000, up by 181,000. By age group, increases were seen among those in their 30s (82,000), 50s (41,000), and those aged 60 and over (206,000). However, there was a decrease among those aged 29 and under (-63,000) and those in their 40s (-2,000). The decline in youth enrollees has continued for 46 months since September 2022. The number of new applicants for unemployment benefits was 90,000, an increase of 4,000 (4.5%) from the previous year. The number of beneficiaries was 635,000, down by 20,000 from the previous year, but the total payout increased by 231 billion won (2.2%) to 1.0747 trillion won. The job vacancy ratio, which indicates the number of job openings per job seeker, rose to 0.48, up from 0.39 in the same month last year. Meanwhile, the number of enrollees at Homeplus, which has suspended operations due to a lack of funds to maintain its stores, is also declining. Chun stated, "Currently, about 12,000 workers at Homeplus are enrolled in employment insurance, and the number has been decreasing by hundreds since January of this year." * This article has been translated by AI. 2026-07-13 12:08:00