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  • Naver and Kakao Anticipate Strong Q2 Earnings Amid AI Integration
    Naver and Kakao Anticipate Strong Q2 Earnings Amid AI Integration Naver and Kakao are expected to report improved earnings for the second quarter as they prepare for their upcoming announcements at the end of the month. Analysts predict that both companies will continue their positive performance, supported by stable advertising and platform businesses. A key factor will be how successfully they can integrate artificial intelligence (AI) into their existing services to create new revenue streams.According to financial information provider FnGuide, Naver's consolidated revenue for the second quarter is projected to reach 3.3481 trillion won, with an operating profit of 572.7 billion won, marking increases of 14.8% and 9.8%, respectively, compared to the same period last year.Kakao is also expected to report strong results, with a consensus revenue estimate of 2.056 trillion won and an operating profit of 223.4 billion won, reflecting year-on-year increases of 1.4% and 20.1%.Both companies' earnings are driven by their advertising and platform businesses, but their growth strategies for the second half of the year differ somewhat.Naver plans to enhance user engagement and boost advertising and shopping revenue by integrating AI into its search and commerce services. In the first quarter, the number of performance-based advertisers more than doubled compared to the previous year, thanks to advancements in AI-driven advertising.In the second half, Naver aims to strengthen this trend. The recently launched AI search feature, 'AI Tab,' will begin integrating real estate services in August, followed by health agents and specialized agents for the Whale browser, expanding its usability. Instead of operating the AI Tab as a paid service, Naver intends to increase search usage to enhance advertising and commerce engagement.Starting in the third quarter, advertisements are expected to be introduced at the top of the 'AI Briefing,' which summarizes search results, potentially increasing revenue through new advertising space.Strengthening commerce competitiveness is also a major task for Naver. The company is reportedly considering a direct delivery business model to enhance its logistics capabilities. This strategy aims to improve the shopping experience and increase the use of Naver Plus Store and membership, ultimately driving transaction growth.Kakao, on the other hand, is focusing on integrating AI into its platform ecosystem centered around KakaoTalk. Currently, TalkBiz advertising and commerce are key revenue sources, supported by its content business, which includes webtoons and music. In the first quarter, TalkBiz advertising revenue grew by 16% year-on-year, indicating robust growth in advertising and commerce.In the second half, increasing the utilization of AI within KakaoTalk will be a top priority. The company plans to gradually expand AI services such as 'ChatGPT for Kakao,' 'Kanana in KakaoTalk,' and AI Mate, incorporating various functions like conversation, search, recommendations, and schedule management into KakaoTalk. The goal is to increase user engagement and connect existing revenue models, including advertising, commerce, and subscriptions, with AI.However, Kakao faces challenges due to ongoing labor disputes related to its AI business expansion. Concerns have been raised that unresolved conflicts over organizational restructuring and business realignment could impact service launch schedules and the pace of business development.* This article has been translated by AI. 2026-07-12 17:48:00
  • KOSPI Adjustment Eases as National Pension Fund Rebalancing Concerns Fade
    KOSPI Adjustment Eases as National Pension Fund Rebalancing Concerns Fade The recent sharp decline in the KOSPI has significantly eased the rebalancing pressure on the National Pension Fund. Initially, there were forecasts of a potential sell-off amounting to 70 trillion won, but the actual selling volume has been more limited than expected. Instead, foreign investors have been taking profits, particularly in the semiconductor sector, contributing to increased market volatility.According to the Korea Exchange, pension funds, including the National Pension Fund, recorded a net sell of 202.1 billion won in the securities market over eight trading days from July 1 to July 10. The average daily net selling amount was 25.3 billion won, which is only a quarter of last month's average of 111.7 billion won. This level is far from the previously raised concern of a 70 trillion won rebalancing sell-off.The easing of the National Pension Fund's selling pressure is largely attributed to the KOSPI's sharp decline. The index fell approximately 20.5% from 9,114.55 on June 22 to 7,246.79 on July 8. During this period, the market experienced significant volatility, with daily fluctuations around 5%.The National Pension Fund conducts rebalancing to align its asset allocation with target weights. This year, due to a surge in the KOSPI, the proportion of domestic stocks exceeded the target, prompting the fund to temporarily suspend rebalancing until the end of June. In May, the fund raised its target allocation for domestic stocks from 14.9% to 20.8% and expanded the strategic asset allocation (SAA) range from ±3 percentage points to ±6 percentage points. With tactical asset allocation (TAA) applied, the domestic stock allocation can be maintained at a maximum of 28.8%.According to Meritz Securities, the National Pension Fund's allocation to domestic stocks increased from 29.9% at the end of May to 31.1% on June 22, when the KOSPI hit an all-time high. However, as the index dropped to 7,246.79 on July 8, the allocation is estimated to have decreased to 26.3%. This adjustment has alleviated much of the mechanical selling pressure within the strategic asset allocation range.During this period, the most heavily sold stock by pension funds was SK Square, with 335.1 billion won sold. Other significant net sales included Samsung Electro-Mechanics (294.4 billion won), Samsung Electronics (125.0 billion won), Samsung C&T (62.7 billion won), Hanwha Ocean (59.7 billion won), LG Innotek (54.7 billion won), and LG Energy Solution (51.4 billion won). Conversely, the pension fund's largest net purchase was of SK Hynix, totaling 219.4 billion won, followed by Shinhan Financial Group (100.6 billion won), Korean Air (86.0 billion won), HYBE (79.0 billion won), S-Oil (77.8 billion won), Kia (58.6 billion won), and Celltrion (56.7 billion won).Meanwhile, recent market fluctuations have been more influenced by foreign trading than by the National Pension Fund's rebalancing. During the same period, foreign investors net sold 12.37 trillion won in the securities market, while individual investors net bought 9.36 trillion won, absorbing the sell-off. The foreign selling trend is interpreted as profit-taking aligned with the semiconductor industry's cyclical performance. Meritz Securities noted that foreign investors have historically reduced their holdings when the operating profit growth rate of semiconductor companies peaks, suggesting that this adjustment is more about portfolio rebalancing rather than a structural exit from the Korean market.Yoon Yeo-sam, a researcher at Meritz Securities, stated, "For foreign buying to reverse, there needs to be a consensus in the market that this memory cycle is different from past cycles." 2026-07-12 17:40:00
  • Government Fund for Public Assets Sees Threefold Increase in Surplus Funds Over Five Years
    Government Fund for Public Assets Sees Threefold Increase in Surplus Funds Over Five Years Surplus funds accumulated in the public asset management fund have more than tripled in the past five years. While revenue has increased due to expanded public asset sales, there are no established criteria for determining an appropriate holding level or principles for utilizing excess funds, which could reduce the efficiency of financial operations.On July 12, the National Assembly Budget Office reported in its "Analysis by Committee of the 2025 Fiscal Year Settlement" that "the surplus funds of the public asset management fund are rapidly increasing alongside rising revenues from public asset sales," and emphasized the need to assess an appropriate level of surplus funds and to plan the use of excess resources for projects related to the fund's objectives, such as acquisition and development of public assets.The public asset management fund was established to acquire, develop, manage, and dispose of public assets, operating on resources secured through the sale or exchange of general properties. The balance remaining after expenditures is accumulated as surplus funds.According to the Budget Office, the surplus fund balance based on settlement criteria increased from 658.3 billion won in 2021 to 987.7 billion won in 2022, 1.4864 trillion won in 2023, 1.7477 trillion won in 2024, and expanded to 1.9981 trillion won last year. During the same period, the operational balance of surplus funds grew from 894.8 billion won to 2.2227 trillion won.The issue is that the rate of increase in surplus funds significantly outpaces the actual growth in fund expenditures. Major expenditures from the public asset management fund, which include project costs and fund operation expenses, rose only about 14% from 932.3 billion won in 2021 to 1.0675 trillion won last year. In contrast, surplus funds increased more than threefold during the same period.As a result, the gap between surplus funds and major expenditures has widened rapidly. In 2021, surplus funds were 274 billion won less than major expenditures, but by 2022, they exceeded expenditures by 151.5 billion won, and the gap grew to 4.976 trillion won in 2023, 7.637 trillion won in 2024, and reached 9.306 trillion won last year.The rapid increase in surplus funds is attributed to the expansion of public asset sales. The government has been promoting sales since establishing the "Measures to Activate the Sale and Utilization of Idle and Underutilized Public Assets" in 2022. Consequently, revenues from the sale of public assets rose from 1.0398 trillion won in 2020 to 1.7872 trillion won last year, while land sale revenues maintained levels of 1.6686 trillion won in 2023, 1.9012 trillion won in 2024, and 1.7298 trillion won last year.Lee Seok-won, a budget analyst at the Budget Office, pointed out, "As the scale of sales increases, the gap between appraised values and actual bid prices needs to be monitored separately."The number of successful bids for public asset sales surged from 146 in 2021 to 891 last year, more than a sixfold increase. However, last year, the appraised value was 302.4 billion won, while the actual bid amount was 223.2 billion won, resulting in a discrepancy of about 79.2 billion won. The ratio of bid prices to appraised values has also steadily declined, from 102.0% in 2021 and 104.0% in 2022 to 90.8% in 2023, 77.6% in 2024, and 73.8% last year.In response to these issues, the government announced measures to improve the public asset sales system at the end of last year, including strengthening reviews of high-value asset sales and limiting discounted sales. This year, the government is also pursuing amendments to the enforcement decree of the Public Assets Act to strengthen reviews of public asset sales and refine the requirements for negotiated contracts.As a result, there are calls for a more systematic approach to managing the public asset management fund. The budget analyst stated, "It is limited to view the entire surplus fund as liquidity needed for short-term project execution. It is necessary to assess an appropriate level of surplus funds considering medium-term project plans, annual execution amounts, and the timing of expenditures for large-scale acquisition and development projects, and to actively utilize excess resources for new projects such as the acquisition of reserve land."* This article has been translated by AI. 2026-07-12 17:36:00
  • Surge in Household Loans Raises Concerns for Banks in Second Half of 2026
    Surge in Household Loans Raises Concerns for Banks in Second Half of 2026 The increase in household loans among the five major banks has approached 80% of their annual target for 2026. With rapid growth in not only mortgage loans but also credit loans and overdraft accounts, the financial sector is on high alert for managing household loans in the second half of the year.As of July 9, the total household loan balance at the five major banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) reached 648.36 trillion won, an increase of 3.39 trillion won from the end of last year. This figure represents 78% of the annual growth target of approximately 4.34 trillion won submitted to the Financial Supervisory Service at the beginning of the year. Reports indicate that three of the five banks have already exceeded their individual targets.In response, banks are effectively reducing new household loan operations for the second half of the year. Hana Bank has suspended the acceptance of loan applications for mortgage and jeonse loans scheduled for September since July 10, following a similar suspension for August applications just a week earlier.Shinhan Bank has also closed its loan application channels and limited mortgage insurance to reduce mortgage loan limits. KB Kookmin Bank has lowered the loan limit for home purchases in the metropolitan area and regulated zones from 600 million won to 300 million won. Other banks may also impose additional restrictions if loan demand continues to surge.Notably, the recent increase in household loans has been more pronounced in credit loans than in mortgage loans. From July 1 to July 9, the mortgage loan balance at the five major banks increased by 196.8 billion won, while credit loans surged by 781.5 billion won, nearly four times the increase in mortgage loans. This rise in credit loans is attributed to demand for borrowing to invest in the booming stock market.The balance of overdraft accounts has also grown rapidly. The balance at the five major banks rose from 37.84 trillion won at the end of April to 41.34 trillion won at the end of June, an increase of 3.5 trillion won in just two months. Individuals aged 40 to 50 account for 65.5% of the total balance. Although those in their 20s have the lowest number of accounts and balance share, their average loan balance per account is 14.31 million won, surpassing that of individuals in their 50s and those aged 60 and above.As a result, the financial sector is likely to strengthen its management of household loans. With the suspension of mortgage and jeonse loan applications and the reduction of loan limits already in place, credit loans and overdraft accounts may also come under tighter scrutiny. Some banks are considering reducing overdraft limits or scaling back new credit loan offerings.A financial sector official stated, "As regulations on mortgage loans prevent capital inflow into real estate while also needing to manage credit loans directed toward the stock market, the calculations for financial authorities are becoming more complex. The more total management is tightened, the more it may dampen demand from genuine borrowers and those needing living expenses, necessitating a nuanced response that distinguishes between the characteristics of different types of loans."* This article has been translated by AI. 2026-07-12 17:04:00
  • Police Investigate Allegations of Misconduct in Jang Yoon-ki Case
    Police Investigate Allegations of Misconduct in Jang Yoon-ki Case Authorities are investigating allegations of police misconduct in the case of Jang Yoon-ki, who is accused of murdering a high school girl he had never met. The National Police Agency's Special Investigation Team has summoned a senior officer who was part of the command line during the investigation.On July 12, the Special Investigation Team questioned Officer A, who was the head of the Criminal Investigation Division at the Gwangsan Police Station at the time of the incident. Officer A is known to have led the investigation from the arrest of Jang Yoon-ki to his detention and transfer to the prosecution.The Special Investigation Team is focusing on the decision-making process that led to the application of a lesser charge of general murder instead of the more severe charge of rape and murder against Jang Yoon-ki.Additionally, the team is investigating Officer B, the former head of the investigation team, who has been arrested on charges of evidence destruction. They are looking into why cable ties were found in the suspect's vehicle but were not secured as evidence, as well as multiple phone calls made between Officer B and Jang Yoon-ki's father, who is also a police officer. The investigation also includes whether any preferential treatment was given to Jang Yoon-ki during parental visits in detention.Previously, the Special Investigation Team conducted surprise searches of the offices of the Gwangju Police Chief and the Gwangsan Police Station Chief. All individuals involved in the searches have been questioned as witnesses. The team is analyzing the seized materials to determine if there was any undue influence or requests from higher-ups regarding the application of the general murder charge.This investigation was prompted by revelations that Jang Yoon-ki's father, a current police officer, may have destroyed key evidence, including a realistic doll and cable ties, that could prove the crime was committed for sexual purposes, or that the investigation team neglected to secure this evidence.As allegations of leaked investigation details and collusion within the police force have emerged, both the prosecution and police are conducting simultaneous investigations into the case.* This article has been translated by AI. 2026-07-12 17:04:00
  • Na Hong-jins Hope Delivers a Gripping 156-Minute Experience
    Na Hong-jin's 'Hope' Delivers a Gripping 156-Minute Experience Na Hong-jin's films are known for their unexpected catastrophes. Rather than offering a comfortable viewing experience, they provide an inescapable encounter with the inevitable. Audiences are drawn into the narrative crafted by the director, setting aside personal preferences. This gripping intensity continues unabated in his latest work, 'Hope.' Set in the small port village of Hopohang near the Demilitarized Zone, the story follows local station chief Beom-seok (played by Hwang Jung-min), who discovers a brutally killed cow in the middle of a rice field. The village youth suspect a tiger is responsible and venture into the woods. With firefighting resources deployed elsewhere and communication cut off, Beom-seok scrambles to protect the village, only to confront a reality far more horrific than he imagined. Amidst the devastation and scattered corpses, he and local officer Seong-ae (Jung Ho-yeon) fight to defend the village, now populated only by the elderly. Meanwhile, Seong-ki (Jo In-sung) and the young men pursuing the tiger quickly become prey themselves. Instead of a tiger, they encounter a monstrous creature. The seeds of misfortune born from ignorance escalate into a cosmic tragedy, pushing 'Hope' beyond the disaster of a small port village into a bizarre confrontation between humans and non-human entities. Beom-seok serves as the audience's eyes. As he strives to protect the village, he finds himself helpless in the face of incomprehensible horror, placing viewers alongside him in this chaotic disaster without any prior explanation or context. In the film's second half, the focus shifts to Seong-ki and his group, altering the film's tone. Their relentless pursuit of the creature transforms earlier confusion into genre-driven exhilaration. The primal fear of isolation in the woods and the confrontation with reality heighten the film's intensity. Cinematographer Hong Kyung-pyo, who collaborated with Na Hong-jin again after 'The Wailing,' captures the deep forest and vast fields, filling the screen with raw, wild energy. The climactic sequence, where characters converge and race down the road, unleashes the pent-up energy built throughout the film. Shot in the Hapcheon area of South Gyeongsang Province, this car chase, along with the film's overall visual style, continuously stimulates the audience's senses. The unique blend of Korean thriller tension, the rhythm of a gritty Western, and the strangeness of sci-fi creates a remarkable collision of genres. The film's action serves as a powerful language for the characters' emotions. The visceral struggle depicted conveys their desperate positions more effectively than any dialogue. The intense action sequences, crafted through direct engagement, immerse the audience in the experience, making them feel as if they are thrown into the chaos. Unexpected humor that punctuates the fierce battles and fear of the unknown alleviates tension, providing moments of relief within the taut suspense. This peculiar rhythm acts as a sophisticated device that enhances the film's dimensionality. At the heart of this intense experience is the chemistry among the actors. Hwang Jung-min, as Beom-seok, portrays a character unraveling between unknown fears and responsibilities, anchoring the film's narrative. Even in extreme fantastical situations, his grounded performance firmly roots the film in reality. Jo In-sung seamlessly integrates into Na Hong-jin's universe, executing complex action scenes and embodying the face of a desperate survivor. Jung Ho-yeon also delivers a powerful performance, fully embracing the film's brutal struggles and carving out her own path. Despite the film's relentless intensity, the conclusion leaves audiences with lingering questions. Na Hong-jin expressed confidence that “even if the story isn’t perfect, it has completeness,” yet viewers exit the theater with unresolved questions rather than clear answers. The theme that “the root of all tragedy lies in perspective” drives the narrative forward, but the unresolved narrative gaps may elicit mixed reactions from audiences. Nonetheless, the overwhelming cinematic experience offered by this film, officially selected for competition at the 79th Cannes Film Festival, remains vivid. In a Korean film industry facing stagnation due to market limitations and investment declines, this ambitious project, completed without compromise despite significant production costs, may seem reckless. However, the relentless cinematic experience proves that audiences have a compelling reason to seek it out in theaters. While it may not satisfy everyone, its gripping intensity is undeniably powerful. It remains to be seen whether this intensity will establish a new 'Hope' for Korean cinema. The film is set to be released on July 15, with a runtime of 156 minutes and a rating suitable for viewers aged 15 and older. * This article has been translated by AI. 2026-07-12 17:04:00
  • Former Qatari Emir Hamad bin Khalifa Al Thani dies at 74
    Former Qatari Emir Hamad bin Khalifa Al Thani dies at 74 Sheikh Hamad bin Khalifa Al Thani, the former Emir of Qatar who transformed the small Gulf state into a diplomatic and investment powerhouse, has died at the age of 74.On July 12, the Qatar News Agency (QNA) reported the death of the former emir, although the specific cause was not disclosed.Sheikh Hamad came to power in 1995 through a bloodless coup that ousted his father, Sheikh Khalifa, and ruled Qatar for 18 years. He is credited with leveraging the country’s vast oil and gas resources to elevate Qatar’s status as a center for international diplomacy, investment, and media.During his reign, Qatar established the satellite news channel Al Jazeera and grew Qatar Airways into a major international airline. He expanded the country’s influence through overseas investments, including the acquisition of Harrods department store in London and a stake in the French football club Paris Saint-Germain.Qatar's successful bid to host the 2022 FIFA World Cup is seen as a key achievement of Sheikh Hamad's strategy to enhance the nation’s global standing. He attended the opening match of the World Cup, receiving a warm welcome from Qatari fans.Sheikh Hamad also focused on positioning Qatar as a mediator in international conflicts. The country played a role in mediating the Darfur conflict in Sudan, the political strife in Lebanon, and the division between Hamas and Fatah in Palestine. Qatar supported the establishment of a Taliban office in Doha, which later facilitated negotiations between the U.S. and the Taliban.However, Qatar's independent foreign policy, which maintained close ties with Iran, Hamas, and the Muslim Brotherhood, led to tensions with neighboring countries such as Saudi Arabia, the United Arab Emirates, and Bahrain. Al Jazeera was both praised for breaking traditional media practices in the Arab world and criticized for representing the Qatari royal family's interests.In June 2013, Sheikh Hamad voluntarily transferred the throne to his then-33-year-old son, Sheikh Tamim bin Hamad Al Thani. This peaceful transfer of power is considered unusual in a region where leadership changes often occur through death or ousting.* This article has been translated by AI. 2026-07-12 16:56:00
  • SK Hynix Begins Trading on Nasdaq, Shifting Global Investment Landscape
    SK Hynix Begins Trading on Nasdaq, Shifting Global Investment Landscape A new era for SK Hynix has begun, allowing overseas investors to buy and sell the company's shares in dollars on the U.S. market without going through the Korean Exchange. This move is expected to broaden the global investment base for Korean companies.On July 12, SK Hynix made a successful debut on the Nasdaq with its American Depositary Receipts (ADR), rising 13.08% on its first day of trading.Market analysts believe that the ADR listing will significantly lower entry barriers for foreign investors. U.S. investors can now trade SK Hynix shares in dollars without needing to open a Korean brokerage account, enhancing accessibility for global investors. Richard Claude, a portfolio manager at Janus Henderson, stated in an interview with Reuters, "This ADR listing opens the door for global investors, including those in the U.S., to easily invest in one of the world's leading HBM companies, which was previously difficult to do directly in Korean stocks."While some speculate that a portion of foreign trading may shift to the U.S. market, prevailing analysis suggests that the impact will be limited. Since ADRs are issued based on domestic listed stocks, the issuance and cancellation process involves trading of the underlying shares. If price discrepancies arise between the ADR and the underlying shares, arbitrage opportunities will likely lead to price convergence, making complete separation of the two markets unlikely. Additionally, passive funds tracking global indices like MSCI continue to include domestic shares in their portfolios, indicating that the foreign investment structure is unlikely to change dramatically in the short term.Market observers are more focused on the potential for SK Hynix's corporate value to be reassessed, similar to the case of TSMC. As the base of global investors expands, there is hope for a virtuous cycle where both the U.S. ADR and domestic shares are reassessed together. Dongwon Kim, a researcher at KB Securities, noted, "Based on the expanded base of global investors, TSMC's ADR formed a premium over its underlying shares, leading to ongoing demand for conversion and arbitrage opportunities between the two. This has strengthened the virtuous cycle of reassessment for both the U.S. ADR and Taiwanese shares."Reflecting these expectations, securities firms have been raising their target prices for SK Hynix. Among eight firms that published corporate analysis reports on SK Hynix this month, six have increased their target prices, now set between 3.8 million and 4.2 million won.* This article has been translated by AI. 2026-07-12 16:48:00
  • Hanmi Pharmaceutical Expects Strong Q2 Results Driven by Technology Transfer Payments
    Hanmi Pharmaceutical Expects Strong Q2 Results Driven by Technology Transfer Payments Hanmi Pharmaceutical is projected to report second-quarter results that exceed market expectations. This strong performance is largely attributed to a substantial upfront payment from a technology transfer agreement with global pharmaceutical company Eli Lilly. However, excluding this payment, the core business has shown signs of slowing down, particularly in Beijing Hanmi.According to the securities industry on July 12, Hanmi's Q2 results are expected to significantly surpass market consensus due to the impact of the upfront payment from the technology transfer agreement. Hana Securities forecasts consolidated sales of 492 billion won and operating profit of 121.5 billion won, while DS Investment Securities predicts sales of 460.1 billion won and operating profit of 134 billion won. These figures are well above the market consensus of 413.5 billion won in sales and 86.6 billion won in operating profit.The boost in performance is primarily due to the technology transfer agreement for the obesity treatment candidate 'sonepaglutide,' a glucagon-like peptide-2 (GLP-2) analog, with Eli Lilly. The upfront payment of approximately 112.9 billion won received last month has been temporarily reflected in the sales figures.The main reason for the underperformance in core operations is attributed to Beijing Hanmi. Before the onset of a management dispute in 2023, Beijing Hanmi accounted for 44% of the company's consolidated operating profit. From 2021 to 2023, its share of consolidated sales steadily increased, supporting Hanmi's profitability.However, the impact of China's centralized purchasing system (VBP) has hindered growth. This system, which involves bulk bidding for pharmaceuticals, has intensified pressure to lower drug prices. Many of Beijing Hanmi's key products, including children's digestive aids and cold medications, are closely tied to the public hospital prescription market, suggesting that performance pressures will continue for the foreseeable future.A Hanmi representative stated, "The centralized purchasing system is an opportunity for strengthening competitiveness rather than a risk," adding that the company will enhance its responsiveness based on its sales and marketing network targeting over 9,000 hospitals and more than 200,000 medical professionals across China.Domestic operations are also seen as having limited immediate potential to boost performance. Recently, Hanmi has secured co-promotion agreements for migraine prevention drug 'Ajobi' from Handok Teva and non-narcotic pain reliever 'Anapraz' from Vivascon Pharmaceuticals, expanding its business scope. However, it will take time for these products to contribute significantly to sales.The market views the upcoming launch of an obesity treatment as a potential turning point. Hanmi is set to release the glucagon-like peptide-1 (GLP-1) obesity drug 'efegludec' in the fourth quarter. The company aims to develop efegludec into a blockbuster product with annual sales of 100 billion won.In April, Hanmi activated a company-wide committee to target commercialization of efegludec within the year. The strategy focuses on ensuring supply stability through its Pyeongtaek bioplant while leveraging price competitiveness and data on Korean patients to establish a foothold in the market. Unlike existing products that rely heavily on imports, Hanmi can manage the entire process from production to supply, which is a key differentiator.Industry experts believe that Hanmi's recovery hinges on the successful market entry of efegludec. One industry insider noted, "Hanmi is likely to emphasize 'Korean-customized obesity treatment' as a key marketing point during the commercialization process of efegludec," adding, "How quickly the new drug drives performance will be crucial for the recovery of the core business." 2026-07-12 16:40:00
  • South Korea joins the worlds new era of extreme summer
    South Korea joins the world's new era of extreme summer SEOUL, July 12 (AJP) — South Korea has officially entered what meteorologists increasingly describe as the era of extreme summer, with authorities activating the country's highest-ever heat alert for the first time as scorching temperatures spread well beyond their traditional hotspots. The Korea Meteorological Administration on Sunday issued its inaugural Heat Wave Emergency Warning for Pohang and Gyeongsan after apparent temperatures were forecast to exceed 38 degrees Celsius following days of persistent heat. The warning, introduced only this year, sits above the country's long-standing two-tier advisory system and reflects a simple reality: conventional heat warnings are no longer sufficient for increasingly dangerous summers. The milestone carries significance beyond a single forecast. It illustrates how South Korea's summer climate is evolving from periodic heat waves into longer-lasting and geographically broader episodes of extreme heat, mirroring changes already observed across Europe, North America and other parts of Asia. The nickname "Daefrica" — a blend of Daegu and Africa — once captured Korea's summer geography. For decades Daegu's basin topography made it synonymous with the country's most oppressive heat. That map is changing. Record temperatures are now being registered across inland North Gyeongsang Province and along the country's eastern coastline. Uiseong reached 40.4 degrees Celsius in August 2018, surpassing Daegu's famous 40-degree record from 1942. Pohang, Gyeongju, Yeongdeok, Gumi, Uljin and other cities have repeatedly rewritten local temperature records over the past several summers. Rather than one exceptionally hot city, meteorologists increasingly describe an expanding belt of extreme heat stretching across much of southeastern Korea. The first Emergency Warning itself reflects this shift. Instead of Daegu, authorities selected Gyeongsan and Pohang, acknowledging that dangerous heat is no longer confined to the country's traditional "furnace." The transformation is not limited to hotter afternoons. South Korea's tropical nights — when temperatures never fall below 25 degrees Celsius — are beginning earlier, lasting longer and covering wider areas than in previous decades. Nighttime heat has emerged as one of the greatest public-health concerns because it prevents the human body from recovering from daytime exposure. The KMA this year expanded its tropical-night advisory system, recognizing that the health risks increasingly continue around the clock. Scientists say nighttime temperatures worldwide are rising faster than daytime temperatures because greenhouse gases trap outgoing heat after sunset while expanding urban areas absorb and slowly release solar energy accumulated during the day. Heat is becoming a health emergency The new Emergency Warning is designed for conditions that authorities believe threaten healthy adults as well as traditionally vulnerable groups. According to the Korea Disease Control and Prevention Agency, apparent temperatures above 38 degrees increase all-cause mortality among people aged 65 and older by 19 percent, while significantly raising cardiovascular risks. As of Friday, 535 people had already suffered heat-related illnesses this year, with two reported deaths. Officials are urging residents to suspend outdoor activities, move into air-conditioned environments and regularly check on elderly family members and neighbors. South Korea's experience reflects a broader global shift. The summer of 2026 has brought exceptional heat across large parts of Europe, North America, China and Japan, straining electricity grids, reducing agricultural output and increasing wildfire risks. Climate researchers have repeatedly found that while no individual heat wave can be attributed solely to climate change, global warming substantially increases the probability, duration and intensity of extreme heat events. The underlying physics is straightforward. Rising greenhouse-gas concentrations increase average global temperatures. Warmer oceans add more moisture and energy to the atmosphere. High-pressure systems responsible for summer heat are becoming more persistent, while expanding cities amplify temperatures through the urban heat island effect as concrete, asphalt and buildings absorb solar radiation during the day and slowly release it after sunset. South Korea combines several of these factors. The Korean Peninsula has warmed faster than the global average over recent decades, according to government climate assessments. Rapid urbanization around Seoul and other metropolitan areas has intensified nighttime heat, while warmer surrounding seas contribute to higher humidity, pushing apparent temperatures well above measured air temperatures. Perhaps the biggest change is psychological. For generations, Koreans regarded heat waves as temporary interruptions to ordinary summer weather. Increasingly, policymakers are treating extreme heat as a recurring national disaster comparable to floods, typhoons or heavy snowfall. Around the world, countries are redesigning disaster response systems for an age in which heat is emerging as one of the deadliest weather hazards, and Korea has joined the growing list of nations adapting to summers that are becoming hotter, longer and increasingly hazardous. 2026-07-12 16:31:21