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SK Hynix Shares Drop 6% Despite Successful Nasdaq ADR Launch SK Hynix shares experienced a significant drop on July 13, despite a successful debut of its American Depositary Receipts (ADRs) on the Nasdaq. After initially rising by double digits on the first day of trading, the stock faced pressure from profit-taking and geopolitical risks, leading to a decline in investor sentiment.According to the Korea Exchange, as of 9:40 a.m., SK Hynix shares were trading at 2,036,000 won, down 144,000 won (6.61%) from the previous trading day. The stock opened at 2,113,000 won but quickly lost ground.Earlier, on July 10, SK Hynix listed its ADRs on the Nasdaq, closing at $168.49, which was 13.08% higher than the offering price of $149. This price was approximately 15.8% above the domestic closing price of 2,180,000 won, leading to assessments of a 'reverse kimchi premium' in the market.However, with much of the positive sentiment already priced in, profit-taking began to emerge. Additionally, some foreign institutions raised concerns about potential arbitrage opportunities, suggesting a strategy of buying ADRs while short-selling the domestic shares. According to reports, investment bank UBS Group noted in a client memo on July 7 that "it is a natural choice to buy ADS on the first day and short the domestic line (common stock)."Adding to the market's unease, U.S. President Donald Trump officially announced the end of a ceasefire with Iran over the weekend, heightening geopolitical tensions in the Middle East, which has further dampened investor appetite for riskier assets, including semiconductors.Market analysts acknowledge that while short-term volatility is expected, the fundamentals, such as demand for AI memory and High Bandwidth Memory (HBM), remain strong. Investors are closely watching whether the influx of long-term foreign capital through ADRs will lead to a reevaluation of the stock's value.* This article has been translated by AI. 2026-07-13 09:56:00 -
Cuckoo Launches Medikin Triple Combo for Home Beauty Market Cuckoo is strengthening its entry into the home beauty market with the launch of a premium skincare device that incorporates key technologies used in professional skincare clinics. The company aims to enhance profitability by expanding its business portfolio from home appliances to beauty devices.On July 13, Cuckoo announced the release of the 'Cuckoo Medikin Triple Combo Multi Skincare Device,' designed to provide professional-level skincare at home.The new product features essential technologies such as electroporation (EP), microcurrent, and medium-frequency (EMS), all integrated into a single device. Users can operate each function individually based on their skin condition or activate multiple functions simultaneously for effective absorption of active ingredients, skin elasticity, and contour management.The device offers four care modes tailored to specific skin concerns. These include the 'Glow Boosting Mode' to enhance moisture density and aid in the absorption of active ingredients, the 'Wrinkle Care Mode' utilizing microcurrent for managing wrinkles around the eyes and neck, and the 'Triple Solution Mode' that implements several functions at once.User convenience has also been prioritized. The device features a triangular head with a 40-degree angle designed to fit the contours of the face, allowing for close management of curved areas like the eyes and nose. Weighing just 123 grams, it reduces the burden of prolonged use. Users can adjust the intensity across five levels, and a single charge allows for up to 350 minutes of use, enhancing portability.With this new product, Cuckoo is accelerating its expansion into the home beauty sector. Since launching an LED mask in 2021, the company has steadily broadened its beauty appliance lineup to include hair dryers, hair irons, and skincare devices.Cuckoo's growth in this sector is becoming evident. According to the company, beauty appliance sales in the fourth quarter of last year increased by 176% compared to the previous quarter, and sales of hair dryers and hair irons from January to April this year rose by 38% year-on-year. Recent product trials conducted with college student supporters also received positive feedback regarding performance.Cuckoo emphasizes not only product competitiveness but also its differentiated after-sales service (A/S) based on a nationwide network of over 180 service centers. As the home beauty market grows and small brands rapidly increase, the company aims to secure consumer trust by leveraging its stable service infrastructure. Plans are also in place to launch dedicated ampoules to expand the skincare lineup.A Cuckoo representative stated, "This new product has been developed to provide professional skincare with just one device, eliminating the need to switch between multiple devices. We will continue to introduce products that lead the home beauty market based on our differentiated technology."* This article has been translated by AI. 2026-07-13 09:52:00
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Apple Sues OpenAI for Trade Secret Theft Amid IPO Plans Apple files trade secret lawsuit against OpenAI Apple filed a lawsuit against OpenAI on July 11 in the U.S. District Court for Northern California, alleging theft of trade secrets. The company claims that the hiring of over 400 former Apple employees by OpenAI was not merely a case of job transitions but part of an organized effort to extract confidential technology related to semiconductor design, on-device AI, and hardware design. OpenAI has been pursuing its own hardware business since acquiring Jony Ive's design firm and recently recruited Noam Shazeer from Google DeepMind. If Apple gains an advantage in initial proceedings or extensive discovery, it could impact hiring practices across frontier AI companies that have absorbed significant talent from big tech firms. OpenAI prepares for IPO with a valuation of $730 billion OpenAI is reportedly preparing a confidential IPO application with Goldman Sachs and Morgan Stanley, aiming for a valuation of approximately $730 billion as early as September. If successful, this would mark the largest technology IPO in history. However, the market environment poses challenges. According to Fortune, Anthropic has surpassed OpenAI in annualized revenue, reporting about $47 billion compared to OpenAI's projected $25 billion to $33 billion for 2026. Anthropic's Claude product alone saw its revenue increase from an annualized $1 billion at the end of 2025 to over $2.5 billion in February. The Apple lawsuit and Anthropic's revenue lead are seen as significant variables affecting the IPO timeline. Meta plans to double computing capacity by 2027 According to internal memos, Meta plans to double its total computing capacity by 2027 through long-term contracts with suppliers, including Samsung. On the same day, the company announced a $10 billion investment to build a 1-gigawatt data center in Alberta, Canada, which led to a more than 7% surge in its stock price. Meta's custom AI chip, Iris, co-designed with Broadcom and manufactured by TSMC, is set to enter mass production in September. This chip will handle internal inference workloads, complementing rather than replacing NVIDIA GPUs. U.S. allows unlicensed AI chip exports to UAE The U.S. Department of Commerce has reclassified the United Arab Emirates (UAE) from an export control country, allowing unlicensed exports of advanced AI chips. Companies like Amazon, Apple, and xAI, which are building large-scale infrastructure in the UAE, will benefit directly. This move aligns with the Biden administration's summer strategy of easing AI trade regulations with allied nations while maintaining barriers against China, potentially diversifying frontier-level learning infrastructure beyond U.S. borders. Federal Reserve establishes first AI task force amid conflict of interest concerns The Federal Reserve has created a task force to study the impact of AI on employment, productivity, and monetary policy, appointing a16z co-founder Marc Andreessen as co-chair. This marks the first official body within the Fed to address the economic effects of AI. However, concerns have been raised about potential conflicts of interest, given that Andreessen has invested billions in AI companies and is now leading central bank analysis of the technology. Humanoid robot companies rush to go public In the past week, three humanoid robot companies have initiated public listing procedures. Agility Robotics has applied for a SPAC listing with a valuation of $2.5 billion, while China's Unitree has received IPO approval on the Shanghai Stock Exchange. Tesla has begun converting its existing production lines into a dedicated factory for its Optimus robot. However, all three companies have yet to demonstrate unit economics—such as component costs, on-site reliability, and actual labor replacement rates—at scale, making the post-IPO disclosure of deployment and margin figures critical for market validation.* This article has been translated by AI. 2026-07-13 09:52:00
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Ruling and Opposition Parties Split on Police Investigation Authority Amid Jang Yoon-ki Case The ruling and opposition parties have expressed conflicting views on the ongoing debate regarding the abolition of supplementary investigation authority triggered by the Jang Yoon-ki case. The Democratic Party of Korea maintains that "the case and the system are separate," while the People Power Party argues that it has revealed the "true face of the police."On July 13, members of the Democratic Party's National Assembly Committee on the Interior and Safety, including Kim Young-jin, Lee Hae-sik, Park Joo-min, Lim Ho-sun, Lee Sang-sik, Chae Hyun-il, and Lee Kwang-hee, held a press conference at the National Assembly. They stated, "We must hold accountable those involved in the Jang Yoon-ki case, regardless of their status, through thorough and impartial investigations."However, Kim Young-jin, the committee chair, noted that discussing the issue of supplementary investigation authority in relation to the Jang Yoon-ki case does not significantly aid in uncovering the substantive truth. He emphasized the need for the People Power Party to return to the committee and conduct normal meetings to investigate the case, asserting, "It is time to officially discuss the assembly formation after having endured long enough."He also criticized People Power Party leader Jang Dong-hyuk for visiting the Gwangju Police Agency and the National Police Agency without prior scheduling, calling it a form of self-serving politics. He urged Jang to stop using the incident to prolong his political career and instead cooperate by officially inviting police officials to the National Assembly to clarify the truth.In contrast, during a Supreme Council meeting held the same day, Jang Dong-hyuk described the abolition of supplementary investigation authority as a preview of how absolute power could be abused. He accused the Democratic Party of attempting to create a "monster police" and claimed that they seek to expand power while eliminating checks and balances, a concern echoed even within the progressive legal community.Jang emphasized that the People Power Party will ensure that police power does not dominate over the people and will protect the judicial system to safeguard the rights of wronged citizens.The Jang Yoon-ki case involves the police referring a suspect for simple murder charges, while the prosecution uncovered a power-related cover-up through supplementary investigation authority. This has drawn attention amid the ruling party's push to abolish such authority. The Legislative and Judiciary Committee is set to begin a combined review of bills related to the abolition of supplementary investigation authority, led by the Democratic Party.* This article has been translated by AI. 2026-07-13 09:52:00
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KB Financial Group and Small Business Corporation Collaborate to Enhance Workplace Safety KB Financial Group announced on July 13 that it is supporting the creation of safe working environments for small businesses through its 'Small Business Industrial Safety Infrastructure Support Project' in collaboration with the Small and Medium Business Corporation (SMBC).The initiative aims to assist small businesses that struggle to establish adequate industrial safety infrastructure due to cost burdens and a lack of safety management personnel. This year, KB Financial and SMBC will select 50 supply companies to match with approximately 950 beneficiary companies, providing tailored solutions in three areas: on-site improvements, safety equipment supply, and safety training and consulting, based on each company's industry and work environment.Numerous supply companies with excellent industrial safety technologies and products are participating in this project to help prevent industrial accidents and establish safety management systems for small businesses.A KB Financial representative stated, "A safe workplace is fundamental infrastructure that protects both the lives of workers and the sustainable growth of companies. KB Financial will continue to work with SMBC to reduce safety blind spots in small business environments and expand support focused on accident prevention in industrial safety."* This article has been translated by AI. 2026-07-13 09:52:00
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Constitution Day Returns as a Public Holiday After 18 Years On July 17, Constitution Day will be observed as a public holiday for the first time in 18 years, raising questions about the operations of banks, hospitals, delivery services, and the stock market.This year's Constitution Day falls on a Friday, creating a three-day holiday that extends through Saturday, July 18, and Sunday, July 19. The holiday was removed from the public holiday list in 2008 but has been reinstated for this year. There will be no substitute holiday since it does not coincide with other public holidays or weekends. ▲ Bank branches closed; ATMs and mobile banking availableOn Constitution Day, bank branches will be closed. However, online banking, mobile banking, and ATMs will generally remain available as usual. Note that ATMs may charge fees during non-business hours on holidays, and some transactions may be limited during financial institutions' maintenance periods.According to the financial authorities' guidelines for public holidays, if a loan's due date falls on July 17, it can be repaid without late fees on the next business day, July 20. Deposit maturities are typically extended to July 20, with interest paid according to the agreed rate for the extended period.If automatic payments for credit card bills, insurance premiums, or utility bills coincide with Constitution Day, the withdrawal date will usually be postponed to the next business day. However, processing methods may vary by financial institution, so it is advisable to check with the respective bank. For large transfers, such as real estate payments, it may be necessary to increase transfer limits or move funds in advance. ▲ Domestic stock market closed for the dayThe domestic stock market, operated by the Korea Exchange, will be closed on July 17.Trading will be halted not only on the KOSPI and KOSDAQ markets but also for exchange-traded funds (ETFs), exchange-traded notes (ETNs), equity-linked warrants (ELWs), the bond market, and the repurchase agreement market.The derivatives market, as well as general commodity markets for oil, gold, and emissions trading, will also be closed. Night trading for derivatives, which starts at 6 p.m. on July 17, will not take place. However, night trading that begins at 6 p.m. on July 16 and continues into the early hours of July 17 will proceed as scheduled.International stock markets, including those in the United States, will operate according to their own holiday schedules, independent of South Korea's Constitution Day. Investors should check with their brokerage firms for the availability of overseas stock trading and currency exchange services. ▲ Hospitals not fully closed; emergency rooms open 24/7Hospitals and clinics will not all close on Constitution Day. Each medical facility will determine its own outpatient services and hours. While many will reduce hours or close, some hospitals and clinics may operate normally or on a limited schedule.Emergency rooms at emergency medical institutions will maintain a 24-hour service on holidays. If sudden symptoms arise but do not warrant an emergency room visit, individuals can check for open hospitals and pharmacies through the emergency medical portal E-Gen, the Health and Welfare Counseling Center at 129, or by calling 119 or 120 without a local area code. It is advisable to confirm operating hours by phone before visiting, as actual hours may vary. ▲ Delivery services vary by company and regionNot all delivery services will cease operations on Constitution Day. Major delivery companies have implemented a 'seven-day delivery' service, allowing for deliveries on holidays depending on the company and region.CJ Logistics has been offering seven-day delivery since January 2025, excluding holidays such as Lunar New Year, Chuseok, and designated no-delivery days. However, some rural areas may not be included in this service.Lotte Global Logistics has also been providing a seven-day service since January 2026, focusing on urban areas for collection and delivery on Sundays and public holidays. Rural areas and Jeju Island are excluded, and the service does not operate on the days of Lunar New Year and Chuseok.Hanjin Delivery will also conduct delivery operations on Constitution Day. Post office branches will be closed on holidays, and public holiday periods are excluded when calculating delivery times for postal packages.Delivery times may vary even within the same delivery company, depending on the seller's shipping time, regional terminal conditions, and the delivery destination. For those needing deliveries around Constitution Day, it is advisable to check the delivery status through the courier's application or tracking service. 2026-07-13 09:48:00
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U.S.-Iran Conflict Continues as Exchange Rate Fluctuates Around 1500 Won The exchange rate between the South Korean won and the U.S. dollar is fluctuating around 1500 won as tensions between the U.S. and Iran persist.As of 9:29 a.m. on July 13, the exchange rate stood at 1502.8 won per dollar in the Seoul foreign exchange market. The rate opened at 1498.5 won, down 7.6 won from the previous session, but has been hovering around the 1500 won mark.The ongoing military confrontations between the U.S. and Iran have prevented the rate from dropping below 1500 won.On July 12, the U.S. Central Command launched additional airstrikes against Iranian forces threatening commercial vessels in the Strait of Hormuz.Previously, the U.S. had conducted airstrikes in response to Iranian attacks on vessels in the Strait, while Iran has targeted U.S. military bases in the Middle East. The Iranian Revolutionary Guard announced a complete blockade of the Strait of Hormuz on July 12.International oil prices are on the rise. According to MarketWatch, Brent crude oil futures for September are up 3.45%, while West Texas Intermediate (WTI) crude for August has increased by 3.50%.Due to the uncertainty stemming from the conflict in the Middle East, the exchange rate is expected to remain stable. Min Kyung-won, an economist at Woori Bank, stated, "Despite the release of export-related negotiation volumes, the geopolitical uncertainty in the Middle East and strong dollar pressures are likely to keep fluctuations limited around the current levels."* This article has been translated by AI. 2026-07-13 09:48:00
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MG Credit Information Launches Subsidiary for Public Institution Purchase Agreements Saemaul Geumgo's subsidiary MG Credit Information is making a significant entry into the public institution purchase agreement business. It has established a dedicated subsidiary, the first of its kind in the credit information industry, to expand its non-performing loan (NPL) operations.On July 13, MG Credit Information announced the completion of its wholly owned subsidiary, 'MG ASSET.'MG ASSET will acquire non-performing loans related to development projects and convert them into public institution purchase agreements. The company expects this initiative to support the early recovery of non-performing loans while contributing to the expansion of public rental housing supply by the Korea Land and Housing Corporation (LH).MG Credit Information has already laid the groundwork for this business. In January, it signed a memorandum of understanding (MOU) with Daishin Asset Trust, followed by agreements with Shin Young Real Estate Trust and Korea Investment Real Estate Trust to promote the LH purchase agreement business. The company has also established a collaborative framework with financial firms such as Bukook Securities, Leading Investment Securities, and M Plus Asset Management.With the establishment of this subsidiary, MG Credit Information plans to intensify its new business centered on non-performing loans and diversify its business portfolio. A company representative stated, 'With the establishment of MG ASSET, we plan to actively pursue new projects focused on non-performing loans and secure new growth engines through continuous business expansion.'* This article has been translated by AI. 2026-07-13 09:48:00
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HLB Shares Plunge Over 20% After FDA Denies Drug Approval HLB's shares fell sharply on July 13 after news that the U.S. Food and Drug Administration (FDA) did not approve its liver cancer drug, riboceranib, for combination therapy.According to the Korea Exchange, as of 9:26 a.m., HLB's stock was trading at 29,000 won, down 7,600 won (20.77%) from the previous trading day. At the start of the session, shares dropped to as low as 27,800 won.On July 10, HLB announced that its combination therapy of riboceranib and camrelizumab, developed as a first-line treatment for liver cancer, received a third Complete Response Letter (CRL) from the FDA, preventing it from obtaining product approval. This has raised uncertainties regarding the commercialization timeline in the U.S., leading to a deterioration in investor sentiment.The latest CRL reportedly stems from issues identified during the cGMP inspection of HLB's Chinese partner, Jiangsu Hengrui Medicine. No new concerns regarding the efficacy or safety of the clinical trials were raised.In response, HLB announced that it has officially begun the re-approval process. Its U.S. subsidiary, Elevate Therapeutics, has obtained Form 483 issued during the FDA inspection and is currently analyzing the detailed issues. HLB plans to receive corrective and preventive action (CAPA) plans and related materials from Jiangsu Hengrui to formulate its resubmission strategy.* This article has been translated by AI. 2026-07-13 09:44:00
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iM Securities Targets $500 Billion Retirement Pension Market with ETF Promotions The retirement pension fund in South Korea has surpassed 500 trillion won, intensifying competition among financial investment firms to attract customers. As funds shift from traditional savings accounts to investment products like ETFs, securities companies are focusing on acquiring clients for tax-exempt accounts and retirement pensions.According to the Financial Supervisory Service and the Ministry of Employment and Labor, the domestic retirement pension fund reached 501.4 trillion won at the end of last year, marking a 16.1% increase from the previous year. This is the first time since the system's introduction in 2005 that the fund has exceeded 500 trillion won, with an annual return rate of 6.47%, the highest on record.However, this return rate remains low compared to major pension funds like the National Pension Service, which recorded a return of 19.9% during the stock market boom last year. There is a significant disparity based on management methods; the return rate for defined benefit (DB) plans, which have a high proportion of principal-protected investments, was only 3.53%, while defined contribution (DC) plans managed directly by participants yielded 8.47%, and individual retirement pensions (IRP) achieved 9.44%.As retirement pensions establish themselves as long-term investment assets, interest in products like ETFs is growing. The financial investment sector is increasingly competitive as firms seek to capture asset management demand through ETFs amid the expansion of the retirement pension market.In line with this trend, iM Securities is launching a strategic ETF trading event for customers with tax-exempt accounts and retirement pension accounts until September 30. The event will feature 21 strategic products from major ETF brands, including Samsung Asset Management's KODEX, Mirae Asset Management's TIGER, KB Asset Management's RISE, and Korea Investment Trust Management's ACE. Notable ETFs include KODEX AI Power Core Facilities, TIGER Korea Tech Active, RISE 200, and ACE K Semiconductor TOP2+.iM Securities will offer benefits to customers who apply for automatic investment in the targeted ETFs through their ISA and pension savings accounts and complete their first purchase. The first 1,600 customers who meet the conditions of a minimum purchase amount of 100,000 won and an investment period of over one year will receive a 10,000 won mobile gift certificate.Additional benefits will be available based on the net purchase amount of strategic ETFs. An event related to the default option for retirement pensions will also be held, where customers who newly designate or change default options that include products from Samsung Asset Management, Mirae Asset Management, and Korea Investment Trust Management will receive coffee coupons on a first-come, first-served basis.An iM Securities representative stated, “We have organized this event to promote a long-term ETF investment culture utilizing tax-exempt accounts and retirement pension accounts.” 2026-07-13 09:44:00