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  • Seoul leads broad Asian rebound after three-day rout
    Seoul leads broad Asian rebound after three-day rout SEOUL, July 09 (AJP) — South Korean stocks led a broad Asian rebound Thursday as chip heavyweights surged ahead of SK hynix's highly anticipated Nasdaq ADR debut, while the Bank of Korea's upbeat view on the semiconductor cycle helped outweigh growing skepticism over AI valuations on Wall Street. As of 10:37 a.m., the benchmark KOSPI jumped 2.87 percent to 7,454.62 after tumbling more than 10 percent over the previous three sessions. The junior KOSDAQ climbed 3.66 percent to 813.70, also rebounding from a nearly 10 percent decline this week. Chipmakers spearheaded the recovery after the Bank of Korea said the recent correction in domestic equities was unlikely to develop into a prolonged downturn, citing improving earnings prospects for semiconductor companies. The central bank also said the global chip upcycle should remain intact as AI adoption broadens and major technology companies continue pouring investment into AI infrastructure. The upbeat domestic assessment contrasted with a more cautious tone overseas. Goldman Sachs said overnight that while companies are still expected to beat earnings estimates, strong results alone may no longer be enough to sustain the AI-driven rally because investor expectations have become increasingly demanding. Samsung Electronics rose 3.15 percent to 286,250 won after sliding 6.25 percent in the previous session to its lowest close since May 20. SK hynix rallied 7.90 percent to 2,240,000 won after falling 5.68 percent to its weakest finish since June 5, buoyed by expectations ahead of Friday's American depositary receipt (ADR) debut on Nasdaq. The gains spread across technology and large-cap stocks. SK Square climbed 5.98 percent, LG Energy Solution advanced 4.60 percent, Samsung Electro-Mechanics added 3.45 percent, Samsung Electronics preferred shares rose 3.32 percent, Samsung C&T gained 2.78 percent and KB Financial advanced 1.81 percent. HD Hyundai Heavy Industries edged up 0.97 percent, while Samsung Biologics and Shinhan Financial Group were little changed, rising 0.29 percent and 0.09 percent, respectively. Losses were confined to a handful of cyclical names. Hanwha Aerospace fell 3.75 percent, Kia dropped 3.64 percent, Samsung Life Insurance lost 3.03 percent and Hyundai Motor slipped 2.05 percent. The won weakened against the dollar to 1,506.80 from the previous close of 1,498.50 despite a return of foreign buying. Overnight, Wall Street finished mixed as renewed military tensions between the United States and Iran kept investors cautious. The Dow Jones Industrial Average fell 1.09 percent and the S&P 500 lost 0.28 percent, while the Nasdaq Composite edged up 0.20 percent. Elsewhere in Asia, Japan's Nikkei 225 rose 2.08 percent and Hong Kong's Hang Seng Index gained 0.18 percent. China's Shanghai Composite was the regional laggard, easing 0.02 percent. 2026-07-09 10:58:45
  • Kwangdong Pharmaceutical to Build Smart Eco-Factory, Aiming to Reduce Greenhouse Gas Emissions by 600 Tons Annually
    Kwangdong Pharmaceutical to Build Smart Eco-Factory, Aiming to Reduce Greenhouse Gas Emissions by 600 Tons Annually Kwangdong Pharmaceutical has been selected for the government's smart eco-factory project, aiming to establish an eco-friendly production system. The company plans to implement high-efficiency equipment to reduce greenhouse gas emissions by 600 tons annually and improve energy efficiency.On July 9, Kwangdong Pharmaceutical announced its selection for the '2026 Smart Eco-Factory Construction Project,' organized by the Korea Environmental Corporation under the Ministry of Climate, Energy, and Environment.The smart eco-factory project is a government initiative that supports the transition to high-efficiency, low-carbon equipment to reduce greenhouse gas and pollutant emissions from manufacturing plants. Kwangdong Pharmaceutical intends to enhance energy efficiency at its facilities and strengthen its eco-friendly production base through this project.Key investment areas include energy-saving boilers, waste heat recovery systems, energy-efficient air conditioning units, high-efficiency ventilation equipment, and high-efficiency waste dewatering systems. The introduced equipment will feature an information and communication technology (ICT)-based monitoring system to manage energy consumption and pollutant emissions in real-time.Kwangdong Pharmaceutical expects that this investment will lead to a reduction of approximately 600 tons in annual greenhouse gas emissions and about 16 tons in waste generation, while also saving around 200 million won in energy costs each year.A company representative stated, "We anticipate that this project will expand our sustainable management and enhance our manufacturing cost competitiveness. We will continue to invest in equipment and improve our management systems to reduce greenhouse gases and other pollutants."Additionally, Kwangdong Pharmaceutical published its first sustainability management report in June, detailing its progress and key achievements in ESG (Environmental, Social, and Governance) management. The committee consists of three independent directors and oversees the ESG strategy, key policies, implementation plans, and outcomes.* This article has been translated by AI. 2026-07-09 10:56:00
  • Ruling Party to Propose Amendment to Criminal Procedure Law to Abolish Supplementary Investigation Rights
    Ruling Party to Propose Amendment to Criminal Procedure Law to Abolish Supplementary Investigation Rights The Democratic Party announced plans on July 9 to propose an amendment to the Criminal Procedure Law aimed at abolishing supplementary investigation rights. With the launch of the Major Crime Investigation Agency and the Prosecution Service expected in October, the party emphasized the need for a swift review process by the National Assembly's Legislation and Judiciary Committee to complete prosecutorial reform.Kim Han-kyu, the party's floor policy chief, spoke to reporters after a policy coordination meeting at the National Assembly, stating, "The Democratic Party's task force on the Criminal Procedure Law has held several meetings. We will finalize the amendment during our last meeting at 2 p.m. today."Kim highlighted that this amendment is the final piece of prosecutorial reform coinciding with the launch of the two new agencies, and he expects prompt discussions in the committee. He noted, "The committee may begin reviewing the bill as early as tomorrow. While I cannot specify a final processing date, we will expedite the review as much as possible. Depending on circumstances, it could be processed before the party convention in August."He added, "I believe the People Power Party would not want the Democratic Party to act alone. I hope they will participate soon for in-depth discussions."Lee Joo-hee, the party's floor spokesperson, reiterated the need for a swift review process for the amendment. She stated, "After discussions in the committee, we will determine whether to adopt the party's position through a thorough deliberation process in a general meeting of lawmakers. We must complete the bill's processing by October when the supplementary investigation rights are fully abolished."She also acknowledged public concerns regarding the abolition of supplementary investigation rights, particularly in light of recent incidents such as the so-called 'Jang Yoon-ki case,' and assured, "We will prepare alternatives to alleviate public worries."* This article has been translated by AI. 2026-07-09 10:56:00
  • Huons En Receives Approval for Prostate Health Ingredient to Enhance Market Competitiveness
    Huons En Receives Approval for Prostate Health Ingredient to Enhance Market Competitiveness 휴온스그룹 계열사 휴온스엔이 자체 개발한 약용식물 소재 '하고초추출분말'이 전립선 건강 기능성을 인정받았다. 회사는 고령화로 관련 수요가 증가하는 만큼 차별화된 기능성 원료를 바탕으로 시장 경쟁력을 강화하겠다는 전략이다.휴온스엔은 9일 하고초추출분말이 식품의약품안전처로부터 '전립선 건강에 도움을 줄 수 있음' 기능성에 대한 개별인정형 원료로 승인받았다고 밝혔다. 개별인정형 원료는 건강기능식품 공전에 등재되지 않은 성분에 대해 식약처가 안전성과 기능성을 개별 심사해 인정하는 제도다.하고초는 동양의학에서 오랫동안 활용돼 온 약용식물이다. 휴온스엔은 유효 성분을 표준화하고 최적의 추출 공정을 확립하는 한편 전립선 건강 개선 효과를 과학적으로 검증해 이번 기능성 인정을 받았다고 설명했다.비임상 연구에서는 전립선 비대와 관련된 지표 개선 효과가 확인됐다. 하고초추출분말은 전립선 무게와 상피세포 두께를 감소시키는 등 전립선 비대 관련 지표를 개선했으며 세포 증식·사멸 관련 단백질과 호르몬 지표에서도 긍정적인 변화를 보였다.배뇨 기능 개선 가능성도 확인됐다. 연구 결과에 따르면 전립선 및 방광 평활근의 과도한 수축을 완화하는 기전을 통해 전립선 평활근 수축 감소와 방광 수축 간격 조절에 영향을 미치는 것으로 나타났다.인체적용시험에서는 국제전립선증상점수(IPSS) 총점이 개선됐다. 잔뇨감, 빈뇨, 약뇨, 배뇨 지연, 배뇨 중단, 야간뇨 등 주요 증상 전반에서 개선 경향이 나타났으며 삶의 질(QoL) 평가에서도 긍정적인 변화가 확인됐다. 발기 기능 평가 지표인 IIEF 점수 역시 섭취 후 증가한 것으로 나타났다.휴온스엔은 이번 개별인정형 원료 확보를 계기로 기존 '전립선 사군자 프리미엄' 제품에 이어 남성 건강기능식품 사업을 확대한다는 계획이다.한편, 휴온스엔은 최근 건강기능식품 제조 전문 자회사 바이오로제트의 흡수합병 절차를 완료했다. 이번 합병은 100% 자회사인 바이오로제트를 대상으로 한 무증자 방식의 소규모 합병으로 진행됐다.회사는 이번 합병으로 연구개발(R&D)과 생산 기능을 일원화해 경영 효율성을 높이고 건강기능식품 제조 역량을 강화한다는 계획이다.바이오로제트는 제조 및 품질관리기준(GMP)과 식품안전관리기준(HACCP) 인증 생산시설을 갖추고 액상, 분말, 정제, 하드캡슐 등 6개 제형 생산이 가능하다. 또 국제식품안전경영시스템(FSSC 22000) 인증을 획득한 생산시설을 운영하고 있다.* This article has been translated by AI. 2026-07-09 10:56:00
  • Bank of Korea Governor Calls for Timely Rate Hike Ahead of July Meeting
    Bank of Korea Governor Calls for Timely Rate Hike Ahead of July Meeting Bank of Korea Governor Shin Hyun-song reiterated the need for an interest rate hike on July 9. The central bank has maintained the benchmark rate at 2.5% since July of last year, but has indicated a potential shift towards tightening monetary policy. Market analysts expect a significant possibility of a rate increase during the Bank of Korea's monetary policy committee meeting on July 16.During a report to the National Assembly's Finance and Economy Committee, Governor Shin stated, "Considering the rising inflation above target levels, improvements in growth, and increased financial stability risks, a timely interest rate hike is necessary."He noted that the nominal GDP growth rate has significantly increased due to improved trade conditions from rising semiconductor prices. He added, "The semiconductor industry's strong performance is expected to continue, and with easing tensions in the Middle East, we anticipate sustained robust growth."On the inflation front, he warned that despite the calming of the Middle East situation, the effects of rising costs will persist for some time, and demand-side pressures are likely to keep inflation rates elevated for an extended period.In the financial and foreign exchange markets, he observed that external uncertainties have increased, leading to greater volatility in key price variables.Governor Shin explained, "The won-dollar exchange rate has fluctuated at a high level in the mid-1500s, despite a large current account surplus, due to ongoing foreign stock sell-offs and the strength of the U.S. dollar. While stock prices have surged due to favorable industry conditions and improvements in capital market regulations, recent foreign profit-taking and portfolio rebalancing have led to some corrections."He emphasized that the domestic financial system remains generally stable, supported by the expanding growth of the real economy and the resilience of financial institutions, despite high external uncertainties. However, he pointed out that the increased volatility in financial and foreign exchange markets, along with the resurgence of rising housing prices in the metropolitan area, pose potential risks to financial stability.Governor Shin concluded by stating, "The Bank of Korea has actively sought to stabilize the financial and foreign exchange markets in collaboration with the government amid high domestic and external uncertainties, and is pursuing various institutional improvements to effectively respond to changes in the financial and economic environment."* This article has been translated by AI. 2026-07-09 10:56:00
  • LG Electronics Targets Commercial Laundry Market with AI and High Efficiency
    LG Electronics Targets Commercial Laundry Market with AI and High Efficiency LG Electronics is accelerating its entry into the global business-to-business (B2B) market by launching large-capacity commercial laundry appliances featuring artificial intelligence (AI) and high-efficiency technology. The company plans to expand its business from primarily serving school dormitories and residential laundromats to include hotels, hospitals, and nursing facilities. On July 9, LG Electronics announced that it will sequentially launch its large-capacity commercial laundry appliance line, 'LG Professional,' starting in Europe and followed by major markets in Asia and North America. The LG Professional line includes six models: 30, 25, and 20 kg washing machines, 30 and 25 kg dryers, and a combo washer-dryer that performs both functions in one unit. The product lineup is designed to allow customers to choose based on the size of their operations and laundry volume. Previously, LG Electronics supplied commercial laundry appliances under 20 kg to school dormitories and residential laundromats, establishing a foothold in markets across Asia, North America, and the Middle East. With the launch of this large-capacity product line, the company aims to target markets with significant laundry demands, such as hotels, hospitals, and nursing facilities. Europe has been chosen as the initial target region due to its developed tourism industry and a high proportion of elderly residents, which has increased the demand for large-capacity commercial laundry appliances in hotels and medical facilities. According to global market research firm SkyQuest, the global commercial laundry market is expected to grow to approximately $10.8 billion by 2032. In the commercial market, LG Electronics is emphasizing differentiation through AI and energy efficiency. The LG Professional appliances utilize 'AI CoreTech,' which combines core component technology with AI to analyze the weight of laundry and automatically optimize water usage and drying conditions. The focus is on reducing both washing time and the consumption of water and electricity, considering the operational characteristics of facilities that handle large volumes of laundry. The washing machines support high-speed spinning at up to 1100 rpm, which reduces residual moisture after washing and shortens drying time. To minimize vibrations and noise during high-speed spinning, the 'Dynamic Ball Core System' has been implemented. A gyro sensor detects imbalances inside the drum and automatically corrects them, reducing wear on components and enhancing equipment durability. The dryers and combo washer-dryers are equipped with a low-temperature dehumidification 'Dual Inverter Heat Pump.' This system removes moisture by utilizing heat generated during the refrigerant circulation process, which reduces energy consumption and fabric damage compared to traditional heater methods. This feature targets B2B customers, where energy costs and garment care efficiency directly impact profitability. Ease of installation is also a key factor in LG's strategy for the European market. The heat pump system does not require a separate duct to expel heat, minimizing the need for drilling into walls. This makes it relatively easy to install in older buildings or leased commercial spaces in Europe, where structural changes can be challenging. LG Electronics is also strengthening its integrated solution business, which connects product sales with installation, operation, and maintenance. Through its commercial laundry management platform 'LaundryCrew,' the company offers remote management, error notifications, and smart diagnostic features. Customers operating multiple laundry machines, such as hotels and hospitals, can monitor the status of individual machines in real-time and manage them collectively. This approach aligns with LG Electronics' B2B expansion strategy, which combines product, software, and maintenance services based on its manufacturing competitiveness. The goal is to mitigate the limitations of the consumer appliance business, which is sensitive to economic fluctuations and consumer sentiment, while securing a stable revenue base through long-term contracts with large customers. "We will support our customers in operating their laundry businesses more efficiently through AI and high-efficiency technology, as well as integrated management solutions," said Son Chang-woo, head of LG Electronics' Living Solutions Division. "We are committed to actively expanding our business in the global commercial laundry market." * This article has been translated by AI. 2026-07-09 10:52:00
  • Samsung C&T Collaborates with Six Startups for 2026 FutureScape Initiative
    Samsung C&T Collaborates with Six Startups for 2026 FutureScape Initiative Samsung C&T's construction division is launching a collaboration with six startups through its open innovation program, '2026 FutureScape.'On July 8, Samsung C&T announced the kickoff meeting for the '2026 FutureScape' collaboration, which aims to support market validation and business cooperation with innovative startups.FutureScape is hosted by Samsung C&T in partnership with the Seoul Economic Promotion Agency. The program seeks to identify startups with innovative technologies and ideas.This year, Samsung C&T selected six startups to engage in technology validation and explore the potential for joint business ventures.The kickoff meeting included representatives from the six selected startups, which are focused on various fields such as home platforms, wellness, senior living, robotic solutions, and next-generation edtech. Participants shared the goals and plans for their respective validation projects.The participating companies are Home&Co, LeMont, InBus, D-Bear, C-Flat AI, and Team Elysium. Home&Co is developing an online and offline home repair platform based on standard pricing, while LeMont is working on interactive AI-based personalized content services.InBus is introducing a modular smart booth that can be installed and relocated without construction, and D-Bear is presenting a last-mile logistics solution that automates ordering and dispatching within buildings. C-Flat AI is offering a low-cost TTS-based senior companion service, and Team Elysium is validating a 3D sensor-based musculoskeletal health analysis service.A demo day to share project outcomes and promote the selected companies is scheduled for October.As the construction industry expands into residential services, smart buildings, and senior care, collaborations with startups are gaining attention as a means to accelerate new business development and technology commercialization.Samsung C&T's FutureScape program annually selects startups with innovative technologies and ideas. From 2023 to 2025, a total of 21 companies have been chosen, with strategic synergies identified for joint business development.The selected companies will have opportunities for business model validation, joint technology development, and business collaboration based on their partnership with Samsung C&T. Support will also include vouchers from major cloud companies like AWS, Naver, and Megazone, along with commercialization funding of up to 50 million won.Hyung Si-won, Executive Director of Samsung C&T's DxP Business Strategy Team, stated, “This kickoff meeting marks the official start of our collaboration with startups. We plan to actively support the sharing of project goals and validation plans, creating new changes in existing businesses through technology validation, and ultimately developing into joint business models.”* This article has been translated by AI. 2026-07-09 10:52:00
  • Neowiz Appoints Chris Jung as Head of Global Business Group to Strengthen Global Competitiveness
    Neowiz Appoints Chris Jung as Head of Global Business Group to Strengthen Global Competitiveness Neowiz is taking significant steps to enhance its competitiveness in the global gaming market by establishing a new Global Business Group.On July 9, Neowiz announced the appointment of Chris Jung, a former Chief Product Officer at Wargaming and head of NCSoft's U.S. branch, as the leader of the Global Business Group.The company described Chris Jung as an individual with extensive experience and a deep understanding of the global market.Jung has a background that includes founding development companies and managing global franchise operations in domestic, North American, and European markets. At Wargaming, he oversaw global franchises such as 'World of Tanks' and 'World of Warships' as the CPO. He also led NCSoft's business headquarters and U.S. operations, driving initiatives in Asia and North America.Neowiz plans to leverage Jung's diverse global business experience and leadership to solidify its position as a global publisher.The company aims to develop existing intellectual properties (IPs) like 'P's Lie' into long-term franchises while consistently discovering new IPs. Since its release in September 2023, 'P's Lie' has achieved global sales of 4 million copies. Neowiz interprets the success of 'P's Lie' in both domestic and international console markets as a foundation for further growth in the global gaming sector.Additionally, Neowiz has restructured its organization into three groups: New Game Development Group, Global Business Group, and Live Game Business Group.Jo Min-koo, head of the Olympus Division, will lead the Live Game Business Group. This group will focus on enhancing the stable live service operations of web board games like Pmang, as well as titles such as Brown Dust 2 and Cat and Sprout, while advancing a data-driven operational system and strengthening IP competitiveness.A Neowiz representative stated, “With Chris Jung's addition, we have established a publishing organization with a broad understanding from early development to global franchising. We will actively support the discovery of new games to ensure their success in the global market and expand business opportunities through new IP development and investment.”Meanwhile, Neowiz announced in June the appointment of Park Sung-jun as the new CEO, who will also continue to serve as the head of the New Game Development Group after taking office in August.* This article has been translated by AI. 2026-07-09 10:52:00
  • Justice Ministry to Crack Down on Exaggerated Lawyer Advertisements
    Justice Ministry to Crack Down on Exaggerated Lawyer Advertisements The government is set to take action against exaggerated lawyer advertisements, such as claims of being the "top brand for three consecutive years" or predicting a "99% success rate in compensation cases."On July 9, the Justice Ministry announced in a press release that it has formed a dedicated investigation team to address the increasing number of advertisements that distort the public's rational choices and undermine the fairness of judicial processes.According to the ministry, the number of disciplinary cases related to advertising regulation violations submitted to the Lawyer Disciplinary Committee surged from one case in 2021 (out of a total of 10) to 88 cases in 2025 (out of 124). Currently, more than half of the 114 pending cases at the Justice Ministry involve advertising regulation violations, totaling 79 cases.The Justice Ministry is establishing new standards for legal ethics to meet the heightened public demand, moving away from reliance on past precedents or practices. The ministry also cited recent investigations that determined advertisements featuring the history of former judges imply undue influence, going beyond mere profile displays.Additionally, the ministry is intensifying investigations and disciplinary actions against lawyers who violate their duty of integrity. It plans to prioritize handling cases of serious violations and swiftly decide on disciplinary measures against lawyers who could cause further harm to the public.A dedicated team has been formed to investigate and review cases. The Justice Ministry aims to move away from past practices that relied solely on records transferred from the Bar Association, instead verifying basic facts and exploring various methods to ensure that disciplinary decisions are made based on violations.Lawyers who cause significant mental or financial harm to clients will face restrictions on their practice based on the number of violations, the scale of harm, and the clients' willingness to pursue disciplinary action.Recently, the Justice Ministry achieved a record of zero losses in lawsuits filed by lawyers challenging disciplinary actions, having attended multiple hearings and submitted numerous documents to support its cases.Moving forward, the Justice Ministry plans to increase the frequency of its disciplinary committee meetings from three times a year to six, streamlining the review process to handle more cases per session. The ministry is also committed to continuously enhancing its review capabilities to foster a legal market where the public can feel secure.* This article has been translated by AI. 2026-07-09 10:52:00
  • Seo In-youngs Father Operated Food Factory, Declares No Inheritance
    Seo In-young's Father Operated Food Factory, Declares No Inheritance Singer Seo In-young recently visited her father's food factory, where discussions about inheritance emerged.On July 8, Seo In-young was seen helping out at her father's factory in a video on the YouTube channel 'Kae Gwa Cheon Seon Seo In-young.'For her factory experience, Seo prepared a health certificate and removed her nail polish. She shared, "My dad told me not to come if I was going to show up with nails like that," while revealing a personal space her father created for her in the factory. This area displayed her albums and books, and she proudly stated, "Now that I'm unemployed, he told me to come here and hang out, and he painted it pink for me."At her father's factory, tortillas and sausages were being produced, and they were also selling kebab grills.Seo's mother recounted how they started the factory 30 years ago, saying, "We knew nothing about the food business. Originally, we had a company in Gimhae and were running another business in Daegu, but we moved to Busan when the IMF crisis hit. We went bankrupt due to a joint guarantee and moved back to Seoul. At that time, a friend introduced us to the food business."She continued, "In Europe, kebabs are emerging as a wellness food. When we tried to import a kebab grill, it cost 5 million won each. My dad and uncle decided to try making it ourselves, and it turned out we could produce it for 2 million won. That's how we patented it."It turned out that Seo In-young's family was the first to bring kebab grills to Korea.The production team asked Seo In-young's father, "If you were to pass this factory on to your daughters, who would you give it to?" He replied, "Neither of them. Because I have already given them my inheritance."He added, "I have given them faith. There is no better inheritance than that," indicating that leaving money as an inheritance could be harmful to children.* This article has been translated by AI. 2026-07-09 10:48:00