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Household Loans Surge by 7.6 Trillion Won Amid Housing Market Activity Last month, a significant increase in mortgage loans led to the largest rise in household loans from banks in 22 months.According to the Bank of Korea's report on 'Financial Market Trends,' as of the end of last month, the balance of household loans from deposit banks, including policy mortgage loans, reached 1,189.4 trillion won, an increase of 7.6 trillion won from the previous month. This marks the largest increase since August 2024, when it rose by 9.2 trillion won.The balance of mortgage loans increased by 4.3 trillion won to 945 trillion won, driving the overall rise in household loans. Although there was a continued decline in jeonse (key money deposit) loans, the increase in mortgage loans was amplified by a rise in housing transactions in the metropolitan area during April and May, along with demand for interim payments on pre-sold apartments.The balance of other loans, including credit loans, rose by 3.3 trillion won to 243.5 trillion won. The increase was fueled by growing demand for funds for stock investments, despite the write-offs of non-performing loans at the end of the quarter.Park, a team leader at the Bank of Korea, stated, "The impact of increased housing transactions in April has led to a steady rise in housing-related loans, not just from banks but across all household loans, including non-bank institutions. Other loans also recorded an overall increase of around 8 trillion won due to rising demand for stock investment funds."He added, "Since housing transactions are reflected in loans with a time lag, loans related to home purchases are expected to face significant upward pressure for the time being. Other loans may exhibit high volatility depending on individual stock investment situations, so it is essential to closely monitor the trends in the housing market and household loans together."The balance of corporate loans from banks increased by 5.1 trillion won from the previous month to 1,413.4 trillion won.Despite temporary repayments for financial ratio management at the end of the half-year, loans to large corporations increased by 3.4 trillion won due to ongoing demand for working capital for bank lending and corporate bond repayments.In contrast, loans to small and medium-sized enterprises saw a decrease in growth from 5.4 trillion won the previous month to 1.7 trillion won, influenced by write-offs of non-performing loans and reduced lending from some specialized banks.Corporate bonds continued to see repayment burdens due to rising interest rates, recording a net repayment of 2.9 trillion won last month, following a net repayment of 1.1 trillion won the previous month.* This article has been translated by AI. 2026-07-09 12:04:00
Foreign Employment Declines for Second Consecutive Year Amid Economic Struggles The number of foreign workers in South Korea has declined for the second consecutive year, primarily due to sluggish performance in the construction and manufacturing sectors. Notably, for the first time since the data began being compiled, the number of arrivals from Vietnam has surpassed that from China.According to the National Data Agency's '2025 International Migration Statistics' released on July 9, the net international migration last year was 74,000, a decrease of 51,000 from the previous year. The statistics focus on foreigners and nationals who have left their country of residence for more than 90 days.The total number of individuals moving for more than 90 days was 1.296 million, down by 33,000 (-2.5%) from the previous year. Arrivals totaled 685,000, a decrease of 42,000 (-5.8%), while departures increased by 9,000 (1.5%) to 611,000.Among these, the total number of foreign movers was 438,000 men and 368,000 women, with the number of women increasing by 2,000 compared to the previous year. The net international migration of foreigners continued for the fourth consecutive year with a net influx of 50,000, although this figure shrank by 48,000 from the previous year.In terms of age, the largest group of foreign arrivals was in their 20s, totaling 151,000, followed by those in their 30s (99,000), teens (53,000), and 40s (47,000).When looking at the international movement figures by visa type, employment accounted for the largest share at 37.4%. This was followed by study and general training (25.2%) and permanent residency and marriage migration (13.15%). Among these, short-term arrivals numbered 54,000, a decrease of 19,000 (25.9%) from the previous year, while employment arrivals fell by 4,000 to 160,000.The Data Agency attributed the decline in employment arrivals to the economic downturn in the construction and manufacturing sectors, as well as a reduction in the quota for foreign workers. The Ministry of Employment and Labor had previously set the E-9 quota at 130,000, a reduction of 35,000 from the previous year.Yoo Soo-deok, head of the population estimates team at the Data Agency, stated, "Both skilled and unskilled workers have decreased compared to the previous year, and the number of unskilled workers entering under the E-9 visa has declined for two consecutive years. The sectors where these foreign workers primarily find employment are construction and manufacturing, which suggests that the domestic economic downturn has had an impact."Vietnam, China, and the United States accounted for half of the foreign arrivals, with the number of arrivals from Vietnam surpassing that from China for the first time since the statistics began in 2000. Last year, 98,000 Vietnamese entered South Korea, exceeding the 94,000 from China by 4,000. This figure is nearly four times that of the United States, which had 23,000 arrivals. Vietnam also had the highest net influx, with 28,000, followed by Nepal with 16,000 and Uzbekistan with 6,000.Yoo noted, "China has seen a continuous decline in arrivals under the overseas Korean, visiting worker, and H-2 visa categories, while Vietnam has experienced an increase in arrivals under study and general training visas, as well as a significant share in seasonal worker visas."Meanwhile, the number of South Korean nationals entering and exiting the country has also decreased, with arrivals down by 19,000 (-7.0%) to 257,000 and departures down by 16,000 (-6.5%) to 233,000. The net migration of South Koreans has continued to show a net influx for the second consecutive year since turning positive in 2024, although the net influx has decreased by 3,000. 2026-07-09 12:04:00
Edge AI Smartwatch Shipments Surge 70% in Q1, Apple Holds 90% Market Share The market for 'edge AI smartwatches,' which operate artificial intelligence (AI) directly on the device without relying on smartphones or cloud services, has seen explosive growth. According to global market research firm Counterpoint Research, shipments of edge AI smartwatches increased by 70% year-over-year in the first quarter, accounting for 25% of the total smartwatch market. The demand for edge AI smartwatches has surged as these devices have evolved from simple activity trackers to advanced tools that provide real-time health analysis and personalized information. Advancements in low-power AI chips have driven this change. By performing AI computations directly on the device, these smartwatches reduce battery consumption and can immediately detect anomalies such as falls or arrhythmias. Processing personal health data internally also enhances privacy protection. Brand-wise, Apple dominated the first quarter, capturing approximately 90% of edge AI smartwatch shipments. The enhancement of health and fitness features is particularly driving the expansion of edge AI applications. As smartwatches analyze heart rate, sleep patterns, and body temperature in real time, the rate of disease detection has significantly increased. The industry is now focusing on developing management technologies for complex conditions such as diabetes. Competition among global chipset manufacturers is also intense. Following Apple's introduction of the 'S9' chip with a neural engine in 2023, Huawei launched its self-developed 'Kirin W80' chip and AI assistant 'Celia' last year. This year, Qualcomm announced the 'Snapdragon Wear Elite' featuring a dedicated neural processing unit (NPU), while Google is expected to enhance the AI capabilities of its next-generation tensor-based wearable chips. Counterpoint Research stated, "Edge AI smartwatches are evolving beyond just dedicated chip integration to a phase of software optimization," predicting that the share of edge AI in the global smartwatch market will rise to about 32% this year.* This article has been translated by AI. 2026-07-09 11:56:00
KOSDAQ Index Recovers Above 800 Amid Institutional Buying; Semiconductor and Bio Stocks Surge The KOSDAQ index has regained the 800-point mark, bolstered by institutional buying. Following a recent decline that eased valuation pressures, bargain-hunting has emerged, particularly in large-cap stocks in the semiconductor and biotechnology sectors.As of 11:18 a.m. on July 9, the KOSDAQ index was trading at 803.35, up 18.35 points (2.34%) from the previous trading day.The KOSPI also continued its upward trend, rising 138.00 points (1.90%) to reach 7384.79.In the KOSDAQ market, institutions led the index's rise with a net purchase of 223.6 billion won, while individual and foreign investors sold a net 215.3 billion won and 9.9 billion won, respectively.Most large-cap stocks showed strong performance. Notable gainers included EcoPro BM (up 1.51%), EcoPro (up 3.08%), Rainbow Robotics (up 3.38%), JUSUNG Engineering (up 6.69%), Kolon TissueGene (up 2.76%), HLB (up 7.58%), Rino Technology (up 3.47%), and Wonik IPS (up 3.51%).In the securities market, individuals sold a net 1.7959 trillion won, while foreign and institutional investors bought a net 331.2 billion won and 1.5077 trillion won, respectively.Among large-cap stocks, Samsung Electronics (up 2.16%), SK Hynix (up 6.79%), SK Square (up 4.33%), Samsung Electro-Mechanics (up 2.10%), and LG Energy Solution (up 2.54%) also saw gains. In contrast, Hyundai Motor (-2.49%) and Samsung Life (-5.06%) experienced declines.Analysts noted that the recent drop in stock prices has made valuations more attractive, leading to increased bargain-hunting. Kang Jin-hyuk, a senior researcher at Shinhan Investment Corp, stated, "The KOSPI price-to-earnings ratio (PER) has entered a deep value zone at 6.17 times, lower than the financial crisis low of 6.27 times. Following the sell-off phase, bargain-hunting has emerged, particularly in the semiconductor sector, helping to lift the market out of oversold conditions."* This article has been translated by AI. 2026-07-09 11:48:00
Clean Country Challenges Detergent Market with Four New Customized Products Clean Country has launched four new customized detergents, including three laundry capsule detergents and one dishwasher tablet, marking its entry into the detergent market.According to Clean Country, the new products are designed with the concept of "detergents made by Clean Country that you can trust and choose," enhancing functionality and ease of selection.The customized detergent lineup includes: a 99% powerful deodorizing capsule detergent that reduces sweat odor; a strong cleaning capsule detergent that effectively cares for everyday stains; a capsule detergent that eliminates musty odors and provides a fresh scent reminiscent of sun-dried laundry; and an all-in-one dishwasher tablet that powerfully cleans stuck-on food and water stains.The new products feature intuitive packaging that reflects their key functions on the front, making it easy for consumers to understand the necessary features without needing to remember product names. The product names and designs incorporate common household concerns such as "indoor drying," "sweat odor," and "everyday stains," allowing shoppers to quickly identify the right product for their needs.The laundry capsule detergents have enhanced specialized functions. The "indoor drying capsule detergent that eliminates musty odors" removes 99% of acetic acid, a substance that causes indoor drying smells, and delivers a fresh scent as if dried in sunlight. The "99% powerful deodorizing capsule detergent that reduces sweat odor" helps eliminate substances that cause sweat smells, while the "strong cleaning capsule detergent that effectively cares for everyday stains" is designed to remove food, cosmetics, and grease stains.The "all-in-one dishwasher tablet that powerfully cleans stuck-on food and water stains" combines the necessary functions for dishwashing, including detergent and rinse aid, into one product. It is designed for convenience, allowing users to simply place one tablet in the dishwasher without unwrapping it. It effectively cleans food stains and grease, and has passed tests showing it eliminates 99.9% of harmful bacteria.Earlier, Clean Country announced its vision to enhance its manufacturing competitiveness through the "AX" infrastructure as it celebrated its 60th anniversary in March. The company plans to integrate AX into its growth strategy, focusing on improving operational and decision-making systems.A Clean Country representative stated, "As consumers' living environments and usage purposes diversify, there is a growing demand for products that allow easy and intuitive selection of necessary functions. We plan to continue expanding products tailored to living environments and consumer lifestyles, establishing ourselves as a lifestyle care brand."* This article has been translated by AI. 2026-07-09 11:44:00
President Lee Advocates Comprehensive Mineral Cooperation with Mongolia President Lee Jae-myung emphasized the potential for comprehensive cooperation in the mineral industry with Mongolia, stating, "We can create a business model that involves participation throughout the entire supply chain of critical minerals, from exploration to refining and the training of personnel for value-added industries."During his state visit to Mongolia, President Lee made these remarks in an interview with the Mongolian state media outlet Montsame, published on the morning of July 9. He expressed optimism that the rare metals center, which opened last year, could serve as a hub for expanding cooperation in the critical mineral supply chain between the two countries.He noted, "Mongolia, with its excellent mineral resources and growth potential, and South Korea, with its capabilities in mineral exploration, development technology, and manufacturing innovation, can become important partners in supply chain cooperation." He stressed the need to develop a mutually beneficial supply chain cooperation model that goes beyond mere participation in mining development to add value.President Lee stated, "Such cooperation will provide South Korea with a stable supply chain for critical minerals and contribute to Mongolia's industrial advancement and enhancement of value-creation technology capabilities. I hope our cooperation model continues to strengthen our bilateral relations and contribute to economic development in both countries."Regarding Mongolia's role in achieving sustainable peace on the Korean Peninsula, President Lee remarked, "Currently, dialogue between North and South Korea and between the U.S. and North Korea has been stalled for a long time. In such times, it is crucial for the international community to maintain communication channels with North Korea and create opportunities for dialogue to discuss regional peace."He expressed hope that Mongolia could play a significant role as a trusted peace partner and a country that communicates with North Korea, thereby building regional trust.President Lee also expressed his expectation that Mongolia would continue to contribute to peace and stability in Northeast Asia, based on the diplomatic trust it has built and the important asset of the Ulaanbaatar Dialogue.On the topic of expanding human exchanges, he noted, "Last year, the number of mutual visitors between our two countries reached a record high of 360,000. The trust and goodwill between our peoples form a strong foundation for the Korea-Mongolia relationship, stronger than any agreement."He outlined a vision to achieve 500,000 human exchanges by 2030, coinciding with the 40th anniversary of diplomatic relations. President Lee stated, "I plan to propose to President Ukhnaagiin Khurelsukh during our summit that we aim for 500,000 exchanges by 2030. Additionally, we will work together to establish a legal framework for this goal, including signing an agreement on mutual recognition of driver's licenses and advancing consular agreements to enhance practical benefits for our citizens."He also emphasized the need to continuously improve the treatment and living conditions of Mongolian workers and students in South Korea, stating, "We must expand the physical infrastructure that allows our citizens to travel more easily and conveniently, including expanding air routes and transportation rights."President Lee described his visit to Mongolia as a turning point in elevating the Korea-Mongolia relationship to a future-oriented strategic partnership and a chance to usher in a new golden era for bilateral relations. He expressed hope that the term 'golden' (altan) would symbolize prosperity and glory, and that the golden era of Korea-Mongolia relations would be remembered as a proud new chapter for both nations.He also addressed the challenges facing both countries, stating, "There are numerous cooperation tasks we must tackle together, including trade, supply chains, health, climate change response, and food security. I am confident this will be a valuable time to reaffirm that South Korea and Mongolia are each other's most trusted friends and partners in opening the future together."* This article has been translated by AI. 2026-07-09 11:44:00
National Assembly to Hold Hearing on Korea Football Association on July 22 The National Assembly's Culture and Sports Committee has decided to hold a hearing on the Korea Football Association at 10 a.m. on July 22. The ruling People Power Party boycotted the session, which was led by the Democratic Party.Committee Chair Lee Jae-jung stated, "This hearing aims to address various issues regarding the appointment process of the national football team coach and the overall operations of the Korea Football Association." He announced the adoption of the hearing plan.He emphasized, "While we respect the autonomy and expertise of the Korea Football Association, we cannot overlook the role of the National Assembly considering the public nature of football."In response, lawmaker Jo Gye-won remarked, "The arrogance of the Korea Football Association has reached its peak," urging the National Assembly to ensure the full attendance and diligent submission of materials from key figures, including former Korea Football Association President Chung Mong-kyu and former coach Hong Myung-bo, to properly voice the public's concerns.Meanwhile, the South Korean national football team recorded one win and two losses in the group stage of the 2026 North and Central America World Cup, failing to advance to the knockout stage. This marked the team's worst performance in history under the newly implemented 48-team format. 2026-07-09 11:40:00
82.4% of Koreans Support Civic Education for Students Amid Classroom Challenges More than 82% of Koreans believe that students need civic education on current political and social issues. The majority of the public prefers addressing societal concerns in schools, rather than relying on biased information found on platforms like YouTube and social media. However, in the educational environment, teachers are reportedly engaging in self-censorship due to vague standards of 'political neutrality' and indiscriminate complaints from parents. This gap in civic education is seen not as an individual teacher's issue, but as a reflection of a harsh institutional environment that fails to protect legitimate educational activities. On July 9, the Korean Teachers and Education Workers Union Policy Research Institute, led by Song Soo-yeon, released the results of a national survey on civic education conducted from April 17 to 22, involving 5,000 men and women aged 16 to 70. The survey included in-depth interviews with ten educational stakeholders and an analysis of last year's survey on complaints related to teacher education rights and political issues.Civic Education Needs to Be Taught in Schools, Say 82.4% of KoreansThe survey revealed that 82.4% of respondents believe it is necessary to educate students about current political issues and social problems, with only 10.0% opposing this view. A significant 66.4% identified 'school' as the primary place for students to learn about these issues. Additionally, 67.4% supported the idea of teachers addressing political and social issues in their lessons, while 20.8% opposed it, indicating a high level of acceptance for such discussions in classrooms. The most common reason for support, cited by 27.6% of respondents, was that educational treatment of these issues is preferable to biased information from social media. Other reasons included the development of balanced thinking from diverse perspectives (25.4%) and the enhancement of critical thinking skills (24.8%). The researchers noted that the public expects civic education to serve as a protective barrier that fosters students' judgment in a sea of biased information, rather than merely injecting specific ideologies.66.0% Find Current Civic Education Insufficient, Citing Environmental IssuesWhile 83.7% agreed on the need for civic education in schools, 66.0% rated the current level of civic education as 'insufficient.' This indicates a significant gap between public expectations and the realities of the school environment. The teachers' union attributed this gap to an 'educational environment that hinders civic education.' According to last year's survey, teachers faced indiscriminate accusations of 'political bias' even when teaching content outlined in the curriculum. Specifically, teachers reported being obstructed when explaining historical events like the May 18 Democratic Uprising or the April 3 Incident, and even faced complaints for teaching about the Sewol ferry disaster or discussing sensitive topics like Dokdo and hate speech. Instances of teachers being scrutinized for their personal social media activities or the colors of their clothing, accused of violating political neutrality, have also been reported. As a result, teachers often avoid discussing current issues altogether or adopt a defensive approach by mechanically reading from textbooks. One teacher expressed, 'While I haven't received complaints, I feel intimidated and self-censor during class, which creates tension.' In this context, parents and students emphasized the need for a systemic approach rather than relying solely on individual teachers. The researchers pointed out that demanding enhanced civic education without providing protection for teachers is tantamount to asking them to endure more complaints and conflicts while teaching.Teachers' Union: Political Neutrality Should Not Mean 'Silence'; Urgent Need for Institutional ProtectionIn response to the survey results, the teachers' union emphasized that strengthening civic education in schools does not merely mean expanding its quantity. They stressed the importance of creating an environment where teachers can address real societal issues, hate speech, distorted information, historical facts, and the values and responsibilities of democracy based on the curriculum. To achieve this, they called for: 1) the state and educational authorities to take responsibility for protecting civic education; 2) reinterpreting political neutrality as a principle that guarantees students' autonomous judgment rather than silence; 3) expanding civic education as a collective responsibility of the entire educational community; and 4) promoting policies that respect and support on-site educational activities. The teachers' union warned that if educational authorities do not create an environment where teachers can teach without fear, efforts to enhance civic education will remain mere declarations. They urged immediate action to establish institutional measures that protect legitimate educational activities and allow teachers to teach without fear.* This article has been translated by AI. 2026-07-09 11:36:00
Jongkundang Launches R&D Subsidiary 'Neurateon' Jongkundang has established a research and development subsidiary, Neurateon, to expand its R&D platform business. The company plans to provide R&D services to domestic and international pharmaceutical and biotech firms, covering areas from new drug research to technology transfer.On July 8, Jongkundang held a founding ceremony for Neurateon at the Hyojong Research Institute in Dongbaek, Yongin. The event was attended by Choi Hee-nam, CEO of Jongkundang Holdings, along with Won Dong-han, CEO of Neurateon, and over 100 employees.Neurateon will leverage the R&D capabilities and technologies accumulated at Jongkundang's Hyojong Research Institute to conduct the entire R&D process, including the development of new drug formulations, improved drugs, generics, and over-the-counter (OTC) products, as well as analytical research, formulation research, and drug delivery system (DDS) research.The company aims to broaden its customer base among domestic and international pharmaceutical and biotech firms by expanding its own product development and technology transfer, positioning itself as a technology-driven R&D platform company.The name Neurateon combines 'New Era' and 'Technology Innovation,' symbolizing the company's commitment to ushering in a new era in the pharmaceutical industry based on technological competitiveness.During the ceremony, Neurateon presented its vision as a 'R&D platform company opening a new era through technological innovation' and outlined its mission to contribute to human health with differentiated technologies and innovative new products. Its core values include Technology, Collaboration, and Innovation.Won Dong-han, a former executive at Jongkundang's research institute, has been appointed as the CEO of the newly established Neurateon. He holds a Ph.D. in pharmacy from Pusan National University and has 23 years of experience in technology research within the pharmaceutical and biotech sectors.Won stated, 'Neurateon is a technology-based R&D platform company that provides the best services to our customers and partners based on excellent research personnel and expertise. We will differentiate through technology and expand through collaboration to open a new era in the future pharmaceutical industry.'Since establishing the first central research institute in the domestic pharmaceutical industry in 1972, Jongkundang has continued to invest in raw material and finished product R&D and the training of research personnel. 2026-07-09 11:32:00
LS Cable Achieves First Certification for HVDC Submarine Cable with 25% Increased Capacity LS Cable has successfully commercialized a high-voltage direct current (HVDC) submarine cable with the highest transmission capacity. On July 9, LS Cable announced that it has passed the international certification process known as Pre-Qualification (PQ) for its 525kV·80℃ HVDC submarine cable, becoming the first in South Korea to do so. This certification establishes a supply foundation for products that can be immediately applied to the West Coast Energy Highway project.In future contracts, the company will only need to undergo a simplified type test before supplying products.The newly developed submarine cable has increased the allowable temperature of the conductor from 70 degrees to 80 degrees, significantly boosting transmission capacity by up to 25%. It is recognized as a next-generation power grid technology optimized for long-distance and large-capacity transmission, requiring advanced high-voltage insulation technology and long-term reliability.LS Cable's major subsidiaries are also accelerating their competitiveness in line with the expansion of the power infrastructure market. LS Eco Energy has completed PQ testing for a 400kV high-voltage cable aimed at the North American market, while Gaon Cable has finished developing high-voltage cables that meet Korea Electric Power Corporation standards and plans to begin full-scale supply next year.An LS Cable official stated, "Passing this PQ test is a significant milestone for securing a foothold in the next-generation national power grid market," adding, "We will solidify our strategy to target both the domestic energy highway and the global HVDC market by combining our manufacturing and construction turnkey capabilities with LS Marine Solutions."* This article has been translated by AI. 2026-07-09 11:32:00