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  • Research Team Develops Eco-Friendly Technology to Recover 90% Lithium from Waste Batteries
    Research Team Develops Eco-Friendly Technology to Recover 90% Lithium from Waste Batteries As the market for recycling waste batteries rapidly expands due to the rise of electric vehicles, a domestic research team has developed a technology that recovers over 90% of lithium, a key mineral, from waste batteries using freshwater microorganisms. This method reduces the use of chemical agents while achieving higher recovery rates than existing processes, demonstrating its potential as an eco-friendly recycling technology.The National Nakdonggang Biological Resources Institute, under the Ministry of Climate, Energy and Environment, announced on July 13 that it has developed a technology that can recover up to 90.3% of lithium from the black powder of waste secondary batteries using freshwater microorganisms.Lithium is a crucial raw material for electric vehicle batteries and energy storage systems (ESS). While global demand is surging, South Korea relies heavily on imports, making the development of technology to recover valuable metals from used batteries a critical task.The research team identified a strain of Aspergillus luchuensis among the freshwater microorganisms at the National Nakdonggang Biological Resources Institute that effectively extracts lithium from the black powder of waste batteries, outperforming traditional sulfuric acid treatment methods.In experiments using the culture solution of this strain, lithium was recovered from the black powder at a rate of up to 90.3%. This represents an increase of approximately 9% to 23% compared to existing sulfuric acid treatment methods. The experiments were conducted at 80°C for 24 hours.In the waste battery recycling market, the ability to recover key minerals like lithium in an eco-friendly manner determines technological competitiveness. Previously, wet smelting processes using sulfuric acid were primarily employed, but there has been a consistent need for technology that reduces the use of chemical agents and the burden of wastewater treatment. This research is significant as it presents the possibility of an eco-friendly process.Based on the results of this research, the National Nakdonggang Biological Resources Institute plans to register related patents this month and develop metal recovery technology utilizing organic acids produced by microorganisms to expand its application in industrial settings.Jung Yu-jin, head of the Utilization Technology Development Division at the National Nakdonggang Biological Resources Institute, stated, "This technology not only enhances the recycling value of lithium resources but can also contribute to the stabilization of the waste battery recycling industry and the supply chain of key minerals. We will continue to establish a foundation for commercialization through follow-up research."* This article has been translated by AI. 2026-07-13 12:04:00
  • Tokyos Heat Rivals Bangkok as Japanese Companies Adjust Work Hours
    Tokyo's Heat Rivals Bangkok as Japanese Companies Adjust Work Hours In Fukagawa City, Hokkaido, located 100 kilometers northeast of Sapporo, the start time for the annual Fukagawa Summer Festival has been changed from morning to evening this year. Despite being in Japan's northern region, the average high temperature in July last year reached 29.1 degrees Celsius, an increase of 4 degrees over the past decade. A local restaurant owner remarked, "It may be difficult to enjoy the festival under the blazing sun now."Japan's summer heat has become comparable to that of Southeast Asian cities. An analysis by the Nihon Keizai Shimbun of data from the U.S. National Oceanic and Atmospheric Administration (NOAA) for 2020-2025 revealed that the high temperatures and humidity in Tokyo during July and August are nearing levels seen in Bangkok and Singapore. The newspaper reported on July 5 that both temperature and humidity have risen compared to the 2000s and 2010s, marking a clear trend of 'tropicalization.' Over the past century, Japan's average temperature has increased by 1.44 degrees Celsius. This change prompted the Japanese government to designate days with temperatures exceeding 40 degrees Celsius as 'extreme heat days,' as the previous threshold of 35 degrees was no longer sufficient to describe the rising temperatures.This heat is also impacting working hours. According to an international study published in the British medical journal The Lancet, the reduction in working hours due to heat in Japan is estimated at 43 hours per worker in 2024, equivalent to more than five days based on an eight-hour workday. For all employed individuals, the total annual loss amounts to 2.89 billion hours, double the average of 1.43 billion hours in the 2010s. The potential income loss due to heat in Japan is estimated at $49.4 billion (approximately 8 trillion yen), exceeding the annual public works budget of about 6 trillion yen. Last year, the number of heatstroke cases in workplaces reached 1,803, marking the highest number for two consecutive years.In response to the rising temperatures, companies have been using air conditioning and providing work uniforms with fans. However, the increasingly hot summers have made it clear that merely cooling down is no longer sufficient. Major construction firm Obayashi Corporation has shortened work hours at 60 sites nationwide to 7 a.m. to 1 p.m. during July and August. Although they considered halting construction altogether, they recognized that stopping work would disrupt the income of day laborers and the entire supply chain, making a change in work hours more practical, according to Nikkei.Electrical contractor Toei Electric has implemented a four-day workweek for workers on utility poles, allowing them to take every Wednesday off during July and August. The reduced workdays will be compensated for when the heat subsides. General contractor Konoike has also decided to increase holidays at construction sites from July to September, with plans to make up for lost work on Saturdays starting in October.Changes are also occurring outside construction sites. Japan Post, responsible for the national postal network, has decided to suspend outdoor deliveries and pickups in areas under special heatstroke warnings. They prioritize employee safety, stating that it is more important than having mail delayed by a day or two. Yakult, which employs 30,000 door-to-door salespeople nationwide, is considering early morning deliveries.Rising Demand for Heat-Related ProductsThe heat is also fostering new markets. Household goods company Kao is repeatedly testing the performance of 'cooling towels' designed to cool the neck in a laboratory simulating summer sunlight. When a researcher pedaled an indoor bicycle while wearing a cooling towel, the thermography screen showed a rapid change from red to blue on the neck. In response to requests from construction companies stating that one hour of cooling is insufficient, the goal is to double the duration of cooling. Workwear company Workman has introduced summer work uniforms designed for temperatures up to 45 degrees Celsius. Research firm Global Information predicts that the global market for heat countermeasures will grow from approximately $2.8 billion in 2025 to $4 billion by 2030.However, there is no way to prevent the heat itself. Takuya Shinohara, a senior researcher at the Nissay Foundation, emphasized the importance of shifting from 'cooling people' measures to reducing the time people are exposed to heat. He suggested adjusting work hours to early mornings or evenings and modifying labor hours throughout the seasons.* This article has been translated by AI. 2026-07-13 12:04:00
  • Second Sun Rises Over Gobi Desert: A Visit to Dunhuangs Molten Salt Power Plant
    Second Sun Rises Over Gobi Desert: A Visit to Dunhuang's Molten Salt Power Plant On July 3, a 30-minute drive from Dunhuang in northwestern China's Gansu province revealed a towering structure rising 260 meters above the arid Gobi Desert. At its peak, a brilliant light shone as if a second sun had emerged, dazzling onlookers from hundreds of meters away.This site is home to China's first 100-megawatt (MW) molten salt tower solar power plant, built by the Chinese technology company Shouhang High-Tech with an investment of approximately 3 billion yuan (about $664 million). Amid the global challenge of providing substantial electricity due to the rise of artificial intelligence (AI), this facility represents a cutting-edge renewable energy experiment that harnesses solar power around the clock.The plant spans 780 hectares, equivalent to about 2.36 million square meters, or 1,100 soccer fields. This vast area is lined with over 12,000 heliostats—large mirrors that reflect sunlight toward the tower. Each mirror covers an area of 115 square meters, larger than a typical 1,000-square-foot apartment.Upon the guide's suggestion, I cautiously placed my hand on one of the mirrors. Contrary to expectations of intense heat, it felt only lukewarm. This is because the mirrors reflect sunlight rather than absorb it.The heliostats continuously adjust their angles to track the sun's movement, directing sunlight to the top of the 260-meter tower. Here, the heat is used to raise molten salt to temperatures between 540 and 560 degrees Celsius.The molten salt is then sent to a steam chamber, where it heats water to create steam that drives turbines to generate electricity. After transferring its heat, the molten salt returns to a cooling tank at 300 degrees Celsius, where it is reheated in a continuous cycle. To prevent the molten salt from solidifying below 290 degrees Celsius, the plant maintains it in a liquid state.The primary advantage of molten salt technology is its ability to store heat. While conventional solar power generation ceases at sunset, molten salt can store heat for up to 11 hours, enabling electricity production even at night. This capability addresses the intermittency often associated with renewable energy.The Dunhuang plant can generate a maximum of 2.27 gigawatt-hours (GWh) of electricity daily, enough to power approximately 300,000 households in China. A plant representative stated, "The annual planned output is 390 million kilowatt-hours, which will reduce carbon dioxide emissions by about 350,000 tons each year."Dunhuang is one of the most favorable locations in China for solar energy generation. With an average annual precipitation of just 39.9 millimeters and evaporation reaching 2,486 millimeters, the dry climate allows for 3,246.7 hours of sunshine each year. The area’s low cloud cover and high direct normal irradiance (DNI) make it particularly suitable for concentrating solar power technologies like molten salt.Along the road leading to the Dunhuang molten salt power plant, rows of black solar panels stretch endlessly. During the day, these panels generate substantial electricity, and at night, the molten salt's stored heat continues to supply power, creating a complementary system between solar and thermal energy.Recently, China has been rapidly constructing molten salt solar power plants in Gansu, Qinghai, and the Xinjiang Uygur Autonomous Region, focusing on regions with abundant sunlight. This strategy aims to enhance the stability of a renewable energy-centric power system by integrating thermal storage capabilities with the expansion of solar and wind energy.This approach supports China's solar energy development. Last year, solar power generation in China reached 1.17 million GWh, a 40% increase from the previous year, surpassing wind power generation for the first time at 1.13 million GWh. Solar energy now accounts for 11% of China's total power generation, a significant increase from less than 1% a decade ago. Last year's solar output even exceeded Japan's total electricity production.China is transforming its northwestern deserts into the world's largest renewable energy base to achieve the dual carbon goals set by President Xi Jinping, aiming for peak carbon emissions by 2030 and carbon neutrality by 2060.In response to the surging electricity demand in the AI era and the challenge of achieving carbon neutrality, China is accelerating the establishment of a new power system centered on renewable energy, including solar, wind, and molten salt technologies.* This article has been translated by AI. 2026-07-13 12:04:00
  • Government Halts Public Construction Projects During Heatwaves and Heavy Rain
    Government Halts Public Construction Projects During Heatwaves and Heavy Rain The government has established guidelines to temporarily halt public construction projects and waive penalties due to safety concerns arising from heatwaves and heavy rain. On July 13, the Ministry of Economy and Finance announced that it had communicated the 'Guidelines for Public Contracts to Prevent Damage from Heatwaves and Heavy Rain' to central administrative agencies and public institutions. This measure aims to prevent construction companies from rushing to meet deadlines under difficult weather conditions. According to the guidelines, if heatwaves or heavy rain make work significantly difficult, public contracting agencies must suspend construction. This period will be recognized as a force majeure, allowing for contract extensions and adjustments to contract amounts to cover additional costs incurred by construction companies. Even if construction is not halted, if delays occur due to heatwaves or heavy rain, penalties for exceeding completion deadlines will not be imposed on contractors. Additionally, public contracting agencies are required to ensure that construction companies comply with outdoor work regulations and guidelines, including the 'Occupational Safety and Health Standards' and 'Guidelines for Preventing Heat-Related Illnesses in the Workplace.' The government expects these guidelines to improve working conditions at public construction sites and help prevent casualties and safety accidents caused by extreme weather.* This article has been translated by AI. 2026-07-13 12:04:00
  • Government and Democratic Party Discuss Economic Growth Strategy for Second Half of 2026
    Government and Democratic Party Discuss Economic Growth Strategy for Second Half of 2026 The Democratic Party and the government have reached a consensus on swiftly advancing economic growth strategies for the second half of 2026, including the 'three mega projects' and a future response fund based on surplus revenue from the semiconductor sector.On July 13, the two sides held a meeting at the National Assembly to discuss the '2026 Economic Growth Strategy,' emphasizing President Yoon Suk Yeol's goal of making 2026 a year of significant economic advancement.The Democratic Party pledged strong legislative and policy support for the three mega projects announced by President Yoon.Acting Party Leader Han Byeong-do stated that the special law for mega special zones will be processed by the end of the year, saying, "We have established a special committee at the party level, and we will robustly support legislation and budgets. Under the principle of a united party and government, we will take extraordinary measures to ensure economic responsibility."Policy Chair Han Jeong-ae also promised swift support from the National Assembly through the rapid enactment of special laws, stating, "We have requested the government to make bold and prompt investments in infrastructure, such as living conditions and railways, to ensure the success of the mega projects that will retain talent."Additionally, the party and government announced plans to establish a future response fund focused on investing in the growth potential of the youth and local talent, based on surplus revenue from the semiconductor sector.After the meeting, Chair Han explained to reporters, "The future response fund announced by Minister Park Hong-geun is currently under discussion among government officials. It is true that additional revenue beyond existing tax accounts is becoming visible by 2030. We need to incorporate this fund into next-generation growth and youth-related areas."He added, "There was a consensus with the government to establish a future response fund to execute the surplus revenue in a forward-looking manner, which will be submitted to the National Assembly as a government proposal after further discussions."In particular, the party and government discussed real estate supply policies, as President Yoon is set to preside over a real estate forum on July 23.Chair Han stated, "The government plans to submit a real estate tax reform proposal to the National Assembly after the forum, and we have requested that the government actively implement supply measures targeting young people and households purchasing their first homes."The party and government plan to include a comprehensive response system for people's livelihoods in the second half of the economic growth strategy, addressing macroeconomics, local-led growth, polarization improvement, and income security for the elderly.Chair Han emphasized, "We have requested the government to prepare systematic measures for securing supply chains and energy following the Middle East conflict, and we have decided to strengthen local-led growth to rebound potential growth rates. Through collective growth, we will overcome polarization and enhance the income security system for basic, national, and retirement pensions. The government will actively work to finalize and announce an economic growth strategy based on these elements." 2026-07-13 11:52:00
  • Princess Anne Visits South Korea to Discuss Maritime Cooperation
    Princess Anne Visits South Korea to Discuss Maritime Cooperation Princess Anne of the United Kingdom will visit Busan Port on July 14, marking her first trip to South Korea in eight years, to discuss strengthening maritime cooperation between the two countries.According to the Ministry of Oceans and Fisheries, Princess Anne is scheduled to meet with Nam Jae-heon, the ministry's vice minister, to discuss the future vision for maritime exchanges.Busan Port gained international recognition in 1797 when Captain Broton of the British Navy's Providence published a navigation diary referring to it as 'Chosan Port.' The port holds historical significance, as it was the site of the installation of a lighthouse on a reef along the shipping route, led by British Customs Commissioner MacLeavy Brown in 1905, shortly after the port's opening.Last April, Trinity House, where Princess Anne serves as president, decided to permanently lease a large lighthouse lens used at the Pendine Lighthouse in the UK since 1900 to South Korea. This lens arrived at Busan Port in November and will be unveiled after a lighting ceremony at the National Lighthouse Museum on July 15.To express gratitude for this decision, the Ministry of Oceans and Fisheries plans to present Princess Anne with traditional mother-of-pearl crafts depicting the Pendine Lighthouse, the National Lighthouse Museum, and the Homigot Lighthouse, where the lens will be displayed.Vice Minister Nam stated, 'Princess Anne's visit to Busan Port is a meaningful opportunity to reaffirm the trust built between South Korea and the UK through maritime connections. We will continue to expand our cooperation with the UK in various maritime-related fields.'* This article has been translated by AI. 2026-07-13 11:48:00
  • Cosmax BTI Shares Surge Over 10% Following Joint Venture Announcement in Japan
    Cosmax BTI Shares Surge Over 10% Following Joint Venture Announcement in Japan Cosmax BTI shares rose more than 10% during trading on July 13, following news of its affiliate Cosmax expanding its custom cosmetics business in Japan.According to the Korea Exchange, as of 11:36 a.m., Cosmax BTI was trading at 21,550 won, up 2,000 won (10.23%) from the previous trading day. At the same time, Cosmax also showed a strong increase of 6.83%.The surge in investor sentiment was driven by Cosmax's announcement of its joint venture with Japanese beauty distribution company Fujishin. The two companies signed a contract to establish the joint venture named Trinex.In the joint venture, Cosmax will hold a 51% stake, while Fujishin will own 49%. The plan is to combine Cosmax's AI-based custom cosmetics formulation and manufacturing technology with Fujishin's distribution network of approximately 20,000 beauty salons across Japan.Trinex aims to establish a comprehensive custom cosmetics operation in Japan, including AI consultations, personalized formulations, local production, filling, packaging, distribution, and consumer feedback collection. Cosmax will handle product planning and production management, while Fujishin will oversee marketing, sales, and distribution.This joint venture marks the first implementation of Cosmax's business model abroad since the launch of its custom cosmetics platform, 3WAAU, in 2023. The company plans to accumulate operational experience in the Japanese market before expanding its custom cosmetics business to major countries such as the United States and Italy.* This article has been translated by AI. 2026-07-13 11:48:00
  • Most Korean trade firms say foreign workers help business
    Most Korean trade firms say foreign workers help business SEOUL, July 13 (AJP) - Nearly three in four South Korean trade companies that employ foreign workers say those workers have a positive effect on their business, and most see them filling jobs Koreans avoid rather than taking jobs from them, a large industry survey showed Monday. The Korea International Trade Association (KITA) released the findings at a forum in Seoul on reshaping the country's foreign workforce and immigration policy, as a shrinking working-age population pushes labor shortages up the list of threats to the South Korean economy. The country recorded the world's lowest fertility rate for years running, and its pool of workers aged 15 to 64 has been contracting since 2020. The survey of 10,040 trade companies, conducted with the Korea Sanhak Foundation from December last year to February, found that 73.4 percent of firms employing foreign workers said the workers benefited their operations. Asked about the workers' role, 44.2 percent said foreign staff complemented their workforce by taking on processes and tasks that Korean workers shun, while only 16.2 percent said they substituted for local hires. Companies named faster and simpler visa procedures, better matching of workers to jobs, and systems for training and retaining skilled workers long term as their top requests. KITA Chairman Yoon Jin-sik told the forum that the issue reaches beyond filling vacancies. "Foreign workforce and immigration policy is a task directly tied to industrial competitiveness and the foundation for sustainable growth of the Korean economy," Yoon said, calling for institutional groundwork that lets companies secure the talent they need and allows skilled workers to keep contributing. The forum, held at Trade Tower in southern Seoul, drew about 100 participants, including Kang Min-hwi, head of the International Organization for Migration (IOM) office in South Korea, along with foreign scholars invited to compare how other economies manage the same demographic squeeze. Their diagnoses converged on a single point: what matters is not how many workers a country admits, but what happens after they arrive. Anna Maria Mayda, a Georgetown University economist, described the American model of drawing in talent through study and temporary work visas, then filtering workers into long-term residence according to labor market demand. Gracia Liu-Farrer, a professor at Waseda University, said Japan never branded itself an immigration country but built a system in which company-based training turns foreign workers into skilled long-term residents, a linkage she said South Korea should replicate. Yun-Hsiang Hsu, an associate professor at Taiwan's National Central University, pointed to the downside of Taiwan's reliance on private brokers, which delivers workers quickly but saddles them with high fees and drives turnover. He argued for combining private-sector speed with public oversight, and for connecting skill and tenure to longer stays. Herbert Brücker, a professor at Humboldt University of Berlin, called immigration a core answer to workforce decline and stressed integrated settlement systems that tie qualification recognition to vocational training, language education and job support. Drawing on the survey, Lee Kyu-yong, a senior research fellow at the Korea Labor Institute, urged South Korea to move away from managing inflows, the question of whom to admit and in what numbers, toward a utilization strategy that designs skill formation, career development, visa transition and regional settlement as a single package. KITA said it has been preparing policy recommendations based on studies of major economies, the company survey and expert consultations, and plans to publish the full proposal in August after gathering further input from the forum. 2026-07-13 11:41:33
  •  Leeteuk, Heechul team up as subuit for Super Junior
    Leeteuk, Heechul team up as subuit for Super Junior SEOUL, July 13 (AJP) - Leeteuk and Heechul of K-pop boy group Super Junior have teamed up as a new unit, their management agency SM Entertainment said Monday. Their six-track EP, "Promise," under Super Junior-83z, named for their shared 1983 birth year, is set for release at 6 p.m. later in the day. Reminiscent of the nostalgic sound of the 1990s and 2000s, the song centers on a heartfelt confession delivered through the duo's contrasting vocal styles. Its music video, directed by Walala Studio, a production team that includes fellow Super Junior member Shindong, tells the story of two close friends who reconnect years after their school days. The EP also includes one solo song from each member. Leeteuk's "Bad Name," which he wrote, is an R&B pop track built around bass and brass. Its lyrics use a relationship as a way to explore the desire to break free from false emotions and move beyond past trauma. Heechul also wrote his solo track, "GODOGNAM," a brighter song about a man who has grown comfortable with solitude before unexpectedly falling in love. Other songs on the EP include "SOLOVE," which compares love to the sun; "ONSAEMIRO," about remaining by someone's side; and "More Than Love," which portrays friendship as stronger than romance. Super Junior, one of the first major K-pop groups to build long-running subunits, celebrate their 21st anniversary this year. 2026-07-13 11:32:09
  • Central Group Bond Investors Urge Thorough Investigation by Financial Supervisory Service
    Central Group Bond Investors Urge Thorough Investigation by Financial Supervisory Service Investors who suffered losses from bonds issued by Central Group are calling for a thorough investigation by the Financial Supervisory Service (FSS), citing inadequate verification by financial firms.On July 13, the 'JTBC and Central Group Corporate Bond Victims Joint Legal Team,' composed of law firms including Changcheon and attorney Lee Bok-hyun, held a press conference at the Gwanghwamun Bar Association to highlight the status of damages and the poor verification by financial companies, urging authorities to conduct a comprehensive investigation.During the briefing, the legal team announced that they submitted an initial opinion letter to the FSS's Financial Investment Inspection Division and Financial Consumer Protection Bureau on July 10, representing 250 applicants with damages amounting to 32.52 billion won.According to the materials released by the legal team, JTBC was effectively in a state of complete capital impairment even before the bond issuance. As of the end of 2025, JTBC's total capital was 19 billion won, with a capital impairment rate of 96.7%. Excluding 154.4 billion won in hybrid capital securities that created an illusion of capital, the actual total capital was approximately -135.4 billion won. The legal team emphasized that there were indications of JTBC issuing 40 billion won in hybrid capital securities just before the financial statements were finalized in September 2025 to cleverly avoid reporting capital impairment.The team particularly criticized the actions of Shinhan Investment Corp., the lead underwriter, as the most significant issue. Despite being fully aware of the risks outlined in their own due diligence report—such as capital impairment, years of accumulated losses, and reliance on short-term borrowings—Shinhan's investment prospectus concluded that 'the short-term liquidity risk is limited considering the potential support from affiliates' and 'principal and interest repayments are expected to be smooth.'Meanwhile, Korea Ratings, the credit rating agency, stated in its credit report that it 'does not reflect the potential for affiliate support in times of crisis due to the overall financial burden on the group,' but Shinhan Investment Corp. completely disregarded this, the legal team criticized. They also revealed that Shinhan's on-site due diligence was replaced by a one-day phone meeting, and the entire process from signing the underwriting contract to payment was expedited within just three weeks.The legal team argued that the poor verification by the securities firm transferred the risks directly to individual investors. They noted that the amount of participation in the demand forecast at the time of issuance was only 77 billion won, falling short of the planned issuance amount, with no participation from pension funds or banks. Most of the participating amounts were in the names of asset management companies, including individual investment accounts, and despite the shortfall in demand, Shinhan Investment Corp. increased the issuance amount to 93 billion won. Furthermore, just before the issuance, IR materials containing only positive forecasts, excluding risk factors, were distributed to individuals through KakaoTalk open chat rooms of investment management firms.The legal team also claimed that Kiwoom Securities, which sold the bonds, failed to properly implement investor protection procedures by directly guiding and inducing investors to register for a do-not-call list.According to the legal team, the confirmed victims so far include 211 individuals who directly purchased corporate bonds, 29 who included them in investment management, and 10 who bought hybrid capital securities, totaling 250 individuals with damages amounting to 32.52 billion won. Additionally, their own tally indicates that there are over 450 personal accounts related to Central Group, amounting to approximately 76 billion won, suggesting that the actual scale of damages is much higher.While numerous individuals face the risk of losing their entire principal investment, the issuing company and financial firms have reaped substantial profits. JTBC raised 93 billion won despite the financial troubles, using 33 billion won as loans to its subsidiaries, and just two and a half months before defaulting, its affiliate Central Holdings exercised a cash call option on 20 billion won in hybrid capital securities it held.The legal team stated, 'While many individual investors have suffered significant losses, Shinhan Investment Corp., Kiwoom Securities, and JTBC have gained considerable economic benefits,' and they demanded that the FSS expand the scope of the investigation, consolidate complaints, and take measures to preserve evidence.The legal team insists that investigations are necessary not only for Shinhan and Kiwoom Securities but also for Hanyang Securities, which underwrote the hybrid capital securities, brokerage firms involved in trading, small investment management firms, and credit rating agencies that assigned ratings. They also called for the swift consolidation of individual complaints already submitted and immediate preservation orders for key evidence that could easily be destroyed, such as messenger logs and trading records.Previously, on June 12, JTBC declared a default after failing to repay 20.6 billion won in liquidity borrowings, triggering a financial crisis for Central Group. Subsequently, Central Holdings, Contentree Central, Central P&I, Megabox Central, and JTBC sequentially applied to the court for rehabilitation proceedings. The court accepted JTBC's application for the Autonomous Restructuring Support (ARS) program, postponing the initiation of rehabilitation proceedings for JTBC while deciding to proceed with the rehabilitation for the other four entities.As legal battles began, bond investors appointed Lee Bok-hyun, a former FSS chairman and a lawyer from Changcheon, as their legal representative to respond.* This article has been translated by AI. 2026-07-13 11:20:00