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  • Rainfall at 73% of Average, Drought Alert for Andong and Imha Dams
    Rainfall at 73% of Average, Drought Alert for Andong and Imha Dams This year, rainfall in the upper Nakdong River region has reached only 70% of the average, prompting Andong and Imha dams to enter a drought alert phase. The government plans to reduce river maintenance water to conserve dam water reserves.The Ministry of Climate Energy and Environment announced on July 8 that as of 2 p.m., the Andong and Imha dams, which are multipurpose dams in the Nakdong River basin, have entered a drought alert phase.This year, the two dams have received 330 mm of rain, which is 73% of the average 450 mm. The amount of water being released from the dams is more than double the inflow, with an average of 3.01 million tons being supplied daily while inflow is only 1.32 million tons.Currently, the water storage level at the Andong and Imha dams is 670 million tons, which is 37% of their total capacity of 1.84 billion tons. The two dams operate as a single water supply system in the upper Nakdong River, and drought levels are assessed based on their combined storage.The government will immediately reduce the amount of water released from the dams to secure water reserves. It plans to cut river maintenance water by up to 1.14 million tons per day and reduce agricultural water by up to 870,000 tons based on actual monthly usage. Additionally, water for environmental and water quality improvement by local governments will be reduced by up to 240,000 tons per day.However, since reducing water supply may impact water use and quality in the lower Nakdong River region, the government will adjust supply flexibly based on local conditions. Local governments, regional environmental agencies, and flood control centers will monitor the situation in the lower river.Song Ho-seok, the water resource policy director at the Ministry of Climate Energy and Environment, stated, "Some areas are experiencing less rainfall than usual, which could lead to an expansion of drought. We will implement dam water conservation measures without delay to ensure a stable water supply."* This article has been translated by AI. 2026-07-08 15:28:00
  • South Korea urges US to reconsider proposed tariffs over alleged forced-labor imports
    South Korea urges US to reconsider proposed tariffs over alleged forced-labor imports SEOUL, July 8 (AJP) - South Korea urged the U.S. earlier this week to reconsider its proposed tariffs on imports linked to forced labor, according to the Office of the United States Trade Representative (USTR). In a statement submitted to the USTR last Monday, South Korea said it believes the proposed action against the country "is unwarranted and needs to be revised," while sharing Washington's concerns over the "use of forced labor in global supply chains and the need for its elimination." The statement argued that the USTR's conclusion "relies on certain case studies that illustrate how the importation of forced labor goods from specific economies burdens or restricts U.S. commerce," adding that it "appears not to have sufficiently taken into account Korea has doubts as to the basis for the conclusion that it has burdened or restricted U.S. commerce through the importation of such goods," it said. It also pointed out that the International Energy Agency (IEA)'s report cited by the USTR does not identify South Korea as importing polysilicon produced with forced labor or exporting related processed products to the U.S. It also stressed that South Korea remains committed to implementing a pledge made in a joint fact sheet with the U.S. after the two countries reached a broader bilateral trade deal last fall. The statement came in response to the USTR's proposed tariffs under Section 301 of the U.S. Trade Act of 1974, announced early last month. The USTR said 60 economies including South Korea had failed to impose or effectively enforce bans on imports of goods made with forced labor, concluding that such practices unreasonably burden or restrict U.S. commerce. It then proposed additional tariffs of 10 to 12.5 percent on economies that have adopted or committed to importing goods produced with forced labor. 2026-07-08 15:26:01
  • Im Young-woongs Variety Show Extended to Seven Episodes
    Im Young-woong's Variety Show Extended to Seven Episodes Singer Im Young-woong's variety show 'Mountain Bachelor Hero' will be extended by one episode.SBS announced on July 8 that the extension was made possible due to the enthusiastic support from viewers. They added, "We hope for continued interest and anticipation until the very end." 'Mountain Bachelor Hero' features Im Young-woong spending time in a remote mountain house, showcasing his life in nature. This is the second season following last year's 'Island Bachelor Hero,' with this installment set against a mountainous backdrop instead of an island, highlighting Im's eco-friendly lifestyle.Since its premiere on June 23, the show has achieved notable ratings and popularity. It has ranked first in the 2049 demographic for three consecutive weeks among Tuesday variety shows, with a peak viewership rating of 6.5%. The initial episode garnered a nationwide rating of 4.7% according to Nielsen Korea, maintaining ratings in the 4% range thereafter.Online and OTT reactions have also been strong. 'Mountain Bachelor Hero' entered Netflix's Top 10 shortly after its debut, reaching a peak position of fourth. Im Young-woong ranked second in the non-drama cast popularity index released by FunDex.The show features Im Young-woong and his friends engaging in mountain life. Guests such as Heo Kyung-hwan, Hyun Bong-sik, and Jo Jae-joong have already appeared, with upcoming appearances from Kwak Bum, Nucksal, Roy Kim, Cha Seung-won, and Kim Do-hoon announced.Through 'Mountain Bachelor Hero,' Im Young-woong showcases a different side of himself beyond his stage persona, welcoming guests to his mountain house and engaging in cooking and daily activities in nature.'Mountain Bachelor Hero,' now confirmed for an additional episode, airs every Tuesday at 9 PM.* This article has been translated by AI. 2026-07-08 15:16:00
  • Messi Leads Argentina to Comeback Victory; Ronaldos World Cup Journey Ends
    Messi Leads Argentina to Comeback Victory; Ronaldo's World Cup Journey Ends After more than 20 years of dominance in world soccer, the fates of Lionel Messi of Argentina and Cristiano Ronaldo of Portugal diverged sharply on the international stage of the FIFA World Cup.On July 8, Argentina staged a remarkable comeback in the Round of 16 match against Egypt in Atlanta, overcoming a two-goal deficit to win 3-2. The victory propels Argentina into the quarterfinals, continuing their quest for a second consecutive World Cup title and a fourth overall.Messi was at the heart of the thrilling turnaround. With Argentina trailing 2-0 in the 79th minute, he delivered a precise cross that set up Cristian Romero's goal, igniting hope for his team. Just four minutes later, Messi equalized with a stunning strike from inside the penalty area, bringing the score to 2-2.With one goal and one assist, Messi made history once again, scoring his eighth goal of the tournament and taking the lead in the scoring race, surpassing Kylian Mbappé of France and Erling Haaland of Norway. He also broke his own records for total World Cup goals (21), total points (30), consecutive matches with goals (9), and matches with goals (16).Additionally, according to Opta, Messi now holds the record for the most assists in World Cup history since 1966, with 9, surpassing the late Diego Maradona's 8.In a post-match press conference, Messi stated, "Our team always competes to the best of our ability. We never give up or back down. Today, we demonstrated our determination, pride, love, and spirit of perseverance. I am very happy and proud that our team shows this every day."Overcome with emotion after the victory, Messi shed tears, saying, "I wanted to stay in the tournament. I didn't want today to be the end or to go home. Those tears were of relief. Being down 2-0 was truly awful."In contrast, Ronaldo's World Cup journey ended bitterly. Portugal lost 1-0 to Spain in their Round of 16 match the previous day at Dallas Stadium in Arlington, Texas. Ronaldo, who started the match, played the full 90 minutes but failed to contribute any points, resulting in Portugal's elimination.Following the match, Ronaldo faced harsh criticism. BBC commentator Chris Sutton remarked, "He wandered around the pitch like a grandfather. That was the reason for Portugal's exit." According to the BBC, Ronaldo's defeat against Spain marked his eighth loss in World Cup matches, tying him with Son Heung-min, Hong Myung-bo, Matthew Leckie, and Antonio Carvajal for the most losses in World Cup history.As the final whistle blew, Ronaldo could not hide his tear-filled eyes. In the post-match press conference, he expressed, "I am sad to leave the World Cup in this manner. I gave everything, and I leave with a sense of relief. That is the life of a footballer. We must move forward."Ronaldo referred to the match against Spain as his "last World Cup" but added, "I still have plenty of time to think about other matters. I will spend time with my family and not rush into any decisions" regarding his retirement from the national team.The contrasting paths of these two players evoke memories of the 2022 Qatar World Cup. In that tournament, Messi showcased his exceptional skills with 7 goals and 3 assists, leading Argentina to their first World Cup title in 36 years and earning the Golden Ball as the tournament's best player.Meanwhile, Ronaldo faced challenges during the tournament, being sidelined from the starting lineup in the Round of 16 against Switzerland and the quarterfinals against Morocco. Portugal was eliminated in the quarterfinals without Ronaldo making a significant impact.Comparing the World Cup performances of Argentina and Portugal highlights the stark differences in their legacies. Under Messi's leadership, Argentina finished as runners-up in the 2014 Brazil World Cup and claimed victory in the 2022 Qatar World Cup, amassing numerous goals and points that have rewritten soccer history.Portugal, despite being led by the world-class striker Ronaldo, has consistently been considered a contender in major tournaments but has never found success in the World Cup. The best result for Portugal during Ronaldo's World Cup appearances was reaching the semifinals in the 2006 Germany World Cup. Since then, they have been eliminated in the Round of 16 in 2010 and 2018, the group stage in 2014, and the quarterfinals in 2022, never advancing to the final match.* This article has been translated by AI. 2026-07-08 15:12:00
  • Funds Flowing Back to Banks Amid Stock Market Volatility
    Funds Flowing Back to Banks Amid Stock Market Volatility Funds are once again flowing back to banks as the possibility of interest rate hikes increases and stock market volatility expands. Analysts suggest that money, which had remained in the stock market during a bullish phase in hopes of high returns, is now moving to relatively safer bank deposits due to fatigue from rapid stock price fluctuations.As of July 6, the balance of time deposits at the five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—stood at 961.47 trillion won, an increase of 12.7 trillion won from 949.4 trillion won at the end of last month.Previously, the influx of funds into the stock market had slowed the growth of bank deposits. The phenomenon of 'money move' saw capital concentrating in the stock market, leading to a stagnation in bank deposit growth.However, the trend has shifted since April. The balance of time deposits at the five major banks was 937.18 trillion won at the end of April, indicating an increase of over 24 trillion won in just over two months.Market observers note that as stock market volatility has increased, some investors are realizing profits and returning their funds to banks. The rising expectations for interest rate hikes have also led to an increase in market interest rates, which in turn has prompted higher rates for deposit products, stimulating this 'reverse money move' back to banks.A representative from a commercial bank stated, "Since last year, there has been a significant increase in funds leaving banks due to the stock market boom, but recently, individual investors feeling fatigued from stock market volatility are returning to banks."Some analysts suggest that if the Bank of Korea resumes its trend of raising interest rates, the movement of funds toward banks could accelerate. As market interest rates rise, banks' funding costs increase, providing greater incentive to adjust deposit rates. Currently, there is a prevailing expectation in the market that the Bank of Korea will raise the benchmark interest rate twice within this year.However, some experts caution against viewing the recent increase in time deposits as a complete 'reverse money move.' The growth in household loans continues, and demand deposits, which are waiting for investment opportunities, still exceed 700 trillion won. This indicates that there is still a significant amount of capital that could shift back to riskier assets if the stock market stabilizes or new investment opportunities arise. As of the end of last month, the balance of household loans at the five major banks was 774.96 trillion won, an increase of 4.14 trillion won from the previous month.A financial industry representative remarked, "As stock market volatility expands and the interest rate hike phase becomes more pronounced, the demand for liquidity is increasing. For the time being, it seems that market funds will continue to flow between bank deposits and risk assets." 2026-07-08 15:08:00
  • U.S.-Iran Tensions Escalate in Gulf Region Amid Concerns Over Ceasefire Talks
    U.S.-Iran Tensions Escalate in Gulf Region Amid Concerns Over Ceasefire Talks U.S.-Iran tensions have escalated beyond the Strait of Hormuz, affecting U.S. military bases in the Gulf region. The U.S. has conducted airstrikes on over 80 targets in Iran in response to attacks on commercial vessels. Iran claims to have struck 85 U.S. military facilities in Bahrain and Kuwait. The follow-up negotiations for a ceasefire, which began after a memorandum of understanding (MOU) was signed last month, are now at risk of collapse.On July 7, U.S. Central Command announced that it had completed additional airstrikes against Iran, describing the strikes as an immediate response to the attacks on commercial vessels passing through the Strait of Hormuz. The strikes targeted over 80 sites using precision-guided munitions.The targets included Iran's air defense systems, command and control networks, coastal radar stations, and anti-ship missile capabilities. More than 60 small fast boats belonging to the Islamic Revolutionary Guard Corps (IRGC) were also hit. Central Command emphasized that the actions were intended to weaken Iran's ability to conduct further attacks on commercial vessels.The U.S. has identified Iran as responsible for previous attacks on commercial vessels. On the same day, three commercial ships navigating the Strait of Hormuz were attacked, with some vessels reportedly catching fire after being struck by drones. No casualties have been reported.Iran has not officially acknowledged its involvement in the attacks. However, state media reported that some vessels ignored warnings and did not follow designated routes. Qatar has sent a letter of protest to Iran, criticizing the situation as a threat to regional security and energy supplies.The U.S. has also intensified economic pressure. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) revoked a temporary license issued on June 21 that allowed limited transactions involving Iranian oil and petrochemical products during the 60-day negotiation period.Iran responded immediately, with its Foreign Ministry labeling the U.S. airstrikes and reinstatement of sanctions as violations of the MOU, warning of potential retaliation to protect national interests and security. Iranian President Ebrahim Raisi, who was visiting Iraq for the funeral of former Supreme Leader Ayatollah Seyyed Ali Khamenei, returned home urgently.Subsequently, the IRGC claimed that its naval and aerospace forces conducted joint missile and drone operations, asserting they targeted 85 major U.S. military facilities in Bahrain and Kuwait. This included facilities related to the U.S. Navy's Fifth Fleet stationed in Bahrain and the Ali Al-Salem Air Base in Kuwait.However, the actual impact and extent of damage remain unverified. Bahrain and Kuwait have activated air raid alerts and air defense systems in response. The Kuwaiti military stated that the explosions heard in various locations were due to the interception process of their air defense systems.As news of the clashes spread, the threat level in the Strait of Hormuz has risen again. The Joint Maritime Information Center (JMIC) raised the maritime threat level from 'significant' to 'serious' on July 7. According to Reuters, citing data from the vessel tracking company Kpler, only 16 vessels passed through the Strait that day, marking the lowest level in about three weeks.Experts have warned of the risk of escalation. Harlan Ullman, chairman of the Killowen Group and a former U.S. Navy officer, told Al Jazeera, "We need to see what happens in the coming days, but this is a very precarious moment, and anything could happen." However, he added, "Full-scale war is not in the interest of either side, so both will likely try to contain the escalation to some extent," noting that Iran appears to be seeking to strengthen its negotiating position by applying additional pressure on the U.S. 2026-07-08 15:08:00
  • Woori Bank to Focus on Profitability in Revised KPIs Ahead of Leadership Renewal
    Woori Bank to Focus on Profitability in Revised KPIs Ahead of Leadership Renewal 우리은행 is increasing the weight of profitability in its key performance indicators (KPIs). With first-half results falling short of expectations, the bank aims to improve performance in the second half through non-interest income and pensions.According to financial industry sources on July 8, Woori Bank has raised the score for risk-adjusted return (RAR) from 200 to 240 points for its second-half KPIs. RAR measures profit after excluding direct and indirect costs, such as rent and salaries, from the bank's operating income. To increase the RAR score, the bank will need to boost interest income, fee income, and non-interest income.The bank has also expanded the scoring for key customer indicators, assessing how well it encourages metrics related to the four major pensions, salary transfers, and card payments. The evaluation score for corporate loans has increased by 10 points compared to the first half of the year.This shift towards a profitability-focused KPI is seen as linked to the reappointment of Woori Bank CEO Jeong Jin-wan, whose term ends in December.In the first quarter of this year, Woori Bank's non-interest income fell by 36.6% compared to the same period last year, while small business loans decreased by 3.9%. Although the second-quarter results are expected to improve compared to the first quarter, industry consensus suggests that significantly increasing assets at once will be challenging. Reports indicate that the bank achieved only about 50% of its targets in the first half of the year.If the upward trend in second-quarter results continues, Jeong's term extension is likely to be smooth. This has led to a management strategy emphasizing steady fee generation from pensions and non-interest income.However, employees may face increased pressure as competition among banks for the pension and salary transfer markets intensifies. Once a customer is acquired, there are many instances where transactions expand to include cards, savings, and loans.Additionally, as banks compete to expand productive finance, there are concerns that the burden to meet related evaluation metrics will also grow.In conjunction with the KPI changes, Woori Bank has reorganized its structure to expand its customer base. It has merged the existing Personal Sales Strategy Department, Real Estate Finance Department, Channel Strategy Department, and MyData Platform Department into a new Retail Sales Division. This aims to unify the sales organization and strengthen both retail and corporate sales. Furthermore, Jeong has called for a reduction in sales management expenses as part of cost-cutting efforts.A financial industry source stated, "It will take considerable time for the insurance company acquired by Woori Bank to generate results. While solidifying its foundation, the bank will focus on increasing immediate revenue through fees and other means." 2026-07-08 15:04:00
  • Korea REITs Association President Calls for Easing Regulations on Large Corporations
    Korea REITs Association President Calls for Easing Regulations on Large Corporations The domestic REITs (Real Estate Investment Trusts) market is entering a new growth phase, but regulations under the Fair Trade Act concerning large corporations are hindering asset liquidity and market expansion.Jung Byung-yoon, president of the Korea REITs Association, emphasized in an interview with Aju Economy on June 12 that "project REITs can be a new solution for real estate development and corporate asset liquidity," but noted that necessary institutional improvements must accompany this.He identified the regulation on large corporations as the primary reason for the significant lag of Korea's REITs market compared to those in the U.S., Japan, and Singapore. "REITs are not companies meant to dominate businesses but investment vehicles for real estate," he said, adding that applying the Fair Trade Act regulations, designed to prevent conglomerate expansion, directly to REITs contradicts the intent of the law.Jung particularly highlighted the need for urgent reform of holding company regulations. Under the current system, companies within a holding company structure face tiered equity holding obligations when utilizing REITs, compounded by regulations on large business groups, making asset liquidity challenging. The association is pushing for expanded exceptions for unlisted REITs and those belonging to large business groups, as well as allowing REIT investments within holding company structures.He pointed out, "The government encourages companies to liquidate their real estate through REITs, yet simultaneously restricts their use through holding company regulations. Companies are not trying to dominate but rather to convert buildings and land into cash for R&D or new business investments, which is contradictory."Jung described REITs as a "conduit," stating, "REITs are merely containers for assets, not operational companies. Actual asset management is handled by asset management companies (AMCs), while asset custody and legal tasks are performed by specialized institutions. Applying the same regulations as general holding companies to a structure that cannot be used as a means of corporate control is a unique 'Galapagos regulation' of Korea."He predicted that easing regulations would make project REITs a key tool for corporate asset liquidity. Introduced in November 2022, project REITs differ from traditional REITs that purchase and operate completed buildings; they participate directly from the development stage. With lower equity ratios than project financing (PF), they offer greater stability, and the introduction of a tax deferral system for capital gains on in-kind contributions until the sale of shares has increased incentives for corporate and landowner participation.Jung stated, "When companies contribute their office buildings or logistics centers to project REITs, they can secure funds without the burden of significant capital gains taxes. The funds obtained can be used for investments in semiconductors, artificial intelligence (AI), or R&D, while investors can receive dividends from rental income generated by quality real estate."He added, "Ordinary citizens can invest in real estate without the need to buy and manage buildings directly, allowing for small investments like stocks. Since professional asset management companies operate the REITs, the management burden is reduced, and they can receive stable rental income from quality properties. This also helps to mitigate speculative demand compared to direct real estate investment."Jung referenced international examples, noting, "In Japan, Mitsubishi Estate and Mitsui Fudosan, and in Singapore, Temasek-affiliated companies have been expanding the REITs market and continuously supplying quality assets. In contrast, while Korea introduced similar systems around the same time, excessive regulations have significantly widened the market gap." In fact, Japan introduced REITs in 2000, while Korea followed in 2001.He also assessed the recent JR Global REIT incident as a demonstration of the structural limitations of the REIT system. "REITs are required to distribute over 90% of their profits, which prevents them from accumulating sufficient cash, and the process for capital increases is complicated, making it difficult to respond quickly to liquidity crises," he said, advocating for simplifying the capital increase process and allowing some profits to be retained by the company.He concluded by suggesting that when quality asset-holding REITs face temporary liquidity crises, the government should consider support mechanisms based on collateral.* This article has been translated by AI. 2026-07-08 15:04:00
  • Korea REITs Association President Jeong Byeong-yun Aims for 20 Trillion Won Market Cap
    Korea REITs Association President Jeong Byeong-yun Aims for 20 Trillion Won Market Cap Jeong Byeong-yun, president of the Korea REITs Association, holds a master's degree in public administration from Seoul National University and has a background in real estate and urban policy from the Ministry of Land, Infrastructure and Transport. He served as the director of the Ministry's Land and Urban Policy Office in 2013, overseeing national land and urban policies. In 2015, he was the director of the Planning and Coordination Office, leading key policies and organizational operations. After serving as the executive vice president of the Korea Construction Association in 2017, he became the sixth president of the Korea REITs Association in July 2021, driving institutional improvements and market activation in the domestic REITs industry. Since taking office, Jeong has prioritized institutional improvements in the REITs sector. He highlighted the introduction of the project REITs system as a significant achievement. In an interview with Aju Economy on June 12, he stated, "Establishing a structure where REITs can participate from the development stage and share development profits with the public is the most meaningful outcome." He also contributed to including listed REITs in the government's separate taxation for high-dividend companies. Initially excluded from the system, REITs were included after discussions with the government, laying the groundwork for reducing tax burdens on individual investors. Additionally, when issues arose regarding the exclusion of public-supported private rental housing REITs from the comprehensive real estate tax, he gathered industry opinions to lead institutional improvements, preventing increased tax burdens for multiple REITs and asset management companies. He explained, "At that time, there was a risk of hundreds of billions of won in tax reassessments, but we worked with the industry to resolve the issue." Looking ahead, Jeong emphasized the need to complete the institutional foundation over quantitative growth in the REITs market. He stated, "To properly establish project REITs, we must improve regulations that restrict large corporations from utilizing REITs, such as holding company regulations and disclosure requirements for corporate groups. Our goal is to create a virtuous cycle where companies can liquidate quality real estate into REITs and reinvest the funds into new businesses and research and development (R&D)." He also outlined a specific vision, aiming for 1 million REIT investors, 50 listed REITs, and a market capitalization of 20 trillion won by 2030. He noted, "Korea introduced the REITs system around the same time as Japan and Singapore, but our market size lags significantly. I want to grow the market to a level comparable to developed countries through regulatory improvements and the activation of project REITs." He concluded, "The ultimate goal is to create a structure where companies can liquidate assets to secure new growth engines, and the public can receive stable dividends from quality real estate. I will focus on institutional improvements during my remaining term to ensure that REITs become a representative long-term investment and retirement asset formation tool for the public."* This article has been translated by AI. 2026-07-08 15:04:00
  • Government Exceeds Fiscal Execution Goals in First Half of 2026
    Government Exceeds Fiscal Execution Goals in First Half of 2026 The Ministry of Economy and Finance announced that it has exceeded its fiscal execution goals for both the main budget and the supplementary budget in the first half of this year.On July 8, Deputy Minister Lim Gi-geun chaired the 13th joint meeting on fiscal execution at the government complex in Sejong, where he reviewed the rapid execution of the main budget and supplementary budget for the first half of the year.As of June 30, the rapid execution performance in the public sector (including finance, public institutions, and private investment) was recorded at 416.6 trillion won, achieving an execution rate of 60.2%.This figure surpasses the first half execution target of 395.8 trillion won (60.2%) by 20.8 trillion won. Key projects also exceeded their targets, with 24.9 trillion won (execution rate of 72.3%) executed against a goal of 24.1 trillion won.In the area of livelihood and economy, support for local love gift certificates amounted to 948.1 billion won, and small business management stabilization vouchers reached 579 billion won, with execution rates for small business support and high inflation response projects exceeding 80%.The execution of the supplementary budget also exceeded its targets. Out of the 10.5 trillion won designated for rapid execution, 9.2 trillion won was executed, exceeding the first half target of 9 trillion won by 200 billion won. Projects aimed at alleviating the burden of high oil prices executed 5.1897 trillion won (execution rate of 97.2%), livelihood stabilization projects executed 1.6706 trillion won (67.8%), and projects to minimize industrial damage and stabilize supply chains executed 2.3260 trillion won (86.0%). In total, 87.4% of the entire management target was executed within 81 days after the supplementary budget was finalized on April 10.Deputy Minister Lim stated, "This first half was a critical time when timely fiscal input was more necessary than ever due to ongoing high oil prices from the Middle East conflict, inflationary pressures, and employment slowdowns, particularly affecting vulnerable groups."He added, "In the second half, we must ensure that execution goes beyond mere fund disbursement to be felt by the public and businesses, and I urge everyone to manage the actual execution situation until the end."* This article has been translated by AI. 2026-07-08 15:04:00