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  • 2026 North America World Cup: Key Points and Predictions for Quarterfinals
    2026 North America World Cup: Key Points and Predictions for Quarterfinals The 2026 North America World Cup is set to enter the quarterfinals, determining which teams will advance to the semifinals. France will face Morocco, Spain will take on Belgium, Norway will compete against England, and the final spot will be decided between the winners of Argentina vs. Egypt and Switzerland vs. Colombia.This quarterfinal round features some of the world's top stars and strong championship contenders, leading soccer fans to label it as a "de facto final match-up."The first match will kick off on July 10 at 5 a.m. KST, with France going head-to-head against Morocco for a spot in the semifinals.France, led by Kylian Mbappe, remains a formidable title contender with a powerful offense. Morocco aims to replicate its remarkable run to the semifinals in the 2022 Qatar World Cup. While France has the edge in individual skill, Morocco's solid defense and counterattacks could be game-changers.On July 11 at 4 a.m., one of the most anticipated matches of the quarterfinals will see Spain face Belgium.Spain, led by rising star Lamine Yamal, will clash with Belgium, which is making a final push with its golden generation. The tactical battle between Spain's possession-based play and Belgium's preference for quick counterattacks will be a key point of interest.On July 12 at 6 a.m., Norway, featuring Erling Haaland, will take on England.Haaland, one of the tournament's top scorers, will be under scrutiny as he attempts to penetrate England's defense. Meanwhile, England will rely on its deep roster and stable organization in its quest for the title. Experts suggest that Haaland's individual brilliance could be pivotal in determining the outcome.Later that day at 10 a.m., the final semifinalist will be determined.The winner of the Argentina vs. Egypt match will face the winner of the Switzerland vs. Colombia match. Fans are particularly focused on Lionel Messi's potential last World Cup title challenge.While Argentina's advancement to the quarterfinals is not yet confirmed, the possibility of the "soccer god" Messi gracing the semifinals is one of the tournament's biggest talking points.Soccer fans have expressed their hopes, saying, "I want to see Messi's last dance for longer," "I believe Messi will shine in a big match again," and "The World Cup is more exciting with Messi on the field."Soccer analysts currently view France and Spain as the teams with the highest chances of winning.France is praised for its balanced attack and defense centered around Mbappe, while Spain is recognized for its young players' growth and stable organization. England is also considered a strong contender, and Norway, led by Haaland, is seen as a major dark horse in the tournament.Notably, this quarterfinal round will showcase some of the world's best strikers.With Kylian Mbappe (France), Lamine Yamal (Spain), Erling Haaland (Norway), and Lionel Messi (Argentina) all in action, this quarterfinal is being dubbed a "war of stars."This World Cup presents an unmissable schedule for general viewers.As championship contenders face off, each match is expected to deliver a level of tension akin to a final.Additionally, interest is growing regarding the winning probabilities for each match.Current evaluations from soccer analytics firms and betting markets suggest that France is favored to win against Morocco, with a victory probability estimated at 75-80%. France's strong offense, led by Mbappe, and stable roster give them an advantage, although Morocco, considered a major dark horse, could create another upset.The match between Spain and Belgium is expected to be closely contested, with experts estimating Spain's chances of winning at around 60-65%. However, Belgium is also seen as a team with a solid chance of victory. The clash between Spain's organized play and Belgium's experience is likely to make this one of the quarterfinals' most thrilling encounters.The England vs. Norway match is regarded as the most unpredictable of the quarterfinals. England is slightly favored with a 55-60% chance of winning, but Norway, boasting the world-class goal-scorer Haaland, has the potential to change the game's dynamics at any moment. Haaland's performance against England's defense will be a crucial factor.The final quarterfinal matchup is yet to be determined. The winner of the Argentina vs. Egypt match will face the winner of the Switzerland vs. Colombia match. Fans are particularly focused on whether Messi will lead Argentina to the quarterfinals. If Argentina advances, Messi will continue to compete for the title alongside other global superstars like Mbappe, Haaland, and Lamine Yamal, raising questions about whether the "soccer god" can secure his last World Cup victory.* This article has been translated by AI. 2026-07-07 15:56:00
  • The Savings Bank Featured in Kim Manager is Actually Seoram Savings Bank
    The Savings Bank Featured in 'Kim Manager' is Actually Seoram Savings Bank 저축은행 회계팀 부장이 '존 윅' 키애누 리브스로 변신했다. 드라마 '김부장' 주인공 소지섭의 이야기다. 단 4회 만에 마의 시청률 20%를 돌파하며 '한국판 존 윅'이라는 호평까지 나오고 있는 가운데, 극 중 소지섭이 맡은 '저축은행 회계팀 부장'이라는 설정에 관심이 쏠린다. 1화에서 김부장은 상생저축은행이라는 곳으로 출근한다. 알고 보면 북파 기록만 17회를 가진 전설의 특수공작원이지만, 회사에서는 그저 평범한 직장인이다. 상사의 법인카드 부당 사용 내역을 발견하고 질문까지 할 정도로 원칙주의자이지만 아내 없이 홀로 딸을 키우기 위해 조용히 넘어가는 소시민적 모습을 보인다. 이때 김부장이 출근하며 등장하는 '상생저축은행' 건물은 경기도 이천시에 있는 세람저축은행 본사다. 지난해 11월 제작진이 간판과 안내판 등을 드라마 설정에 맞게 교체한 뒤 촬영을 진행한 것으로 알려졌다. 세람저축은행은 '김부장'뿐 아니라 올해 방영 예정인 '시그널2' 등을 포함해 지금까지 네 차례가량 작품 촬영지로 활용됐다. 지난해 공개된 넷플릭스 드라마 '악연'에서는 보험사 '동화생명'으로 등장했다. 한 건물 안에서 은행과 보험사, 카드사 등 다양한 금융회사 공간을 연출할 수 있어 제작사들의 촬영 요청이 꾸준히 이어지고 있다는 게 세람저축은행 측의 설명이다. 세람저축은행 관계자는 "범죄나 금융사기처럼 금융회사 이미지를 훼손할 수 있는 장면이라면 촬영을 허용하지 않는다"며 "일반적인 금융회사 배경으로 활용되는 경우 공간을 제공하고 있다"고 말했다. 드라마 방영 이후에는 뜻밖의 홍보 효과도 얻었다. 한 직원은 "'드라마에 회사 건물 나오던데 맞느냐'는 연락을 지인들로부터 수차례 받았다"고 전했다. 그동안 금융권은 영화 투자나 콘텐츠 제작 지원 등을 통해 K-콘텐츠 산업을 뒷받침해왔다. 최근에는 실제 금융회사 공간을 촬영지로 제공하는 사례도 늘어나면서 드라마 속 배경으로 스쳐 지나가는 은행이 콘텐츠 제작을 떠받치는 또 하나의 인프라 역할까지 하고 있다는 평가다.* This article has been translated by AI. 2026-07-07 15:52:00
  • Kim Ki-hwan: Expanding Semiconductor Manufacturing Competitiveness with Quantum Technology
    Kim Ki-hwan: Expanding Semiconductor Manufacturing Competitiveness with Quantum Technology Kim Ki-hwan, the inaugural head of the Ion Trap Quantum Science Research Group at the Institute for Basic Science (IBS), stated that China did not become a quantum powerhouse solely through its own efforts. He emphasized that since 2011, providing young researchers with quality equipment and sufficient funding, along with immediate opportunities to start their research, has been crucial.Kim made these remarks during an interview following his lecture at the 2026 World Korean Scientists and Engineers Conference held at the Korea Science and Technology Center in Gangnam, Seoul. He noted, 'Quantum technology ultimately relies on people,' stressing the importance of creating an ecosystem where young researchers can start and grow their research in a stable environment.Having served as a professor in the Department of Physics at Tsinghua University in China for 14 years, Kim witnessed firsthand the country's rise to the forefront of quantum technology. He returned to Korea last year after stepping down from his professorship to lead the IBS Ion Trap Quantum Science Research Group.Kim identified the 'bold opportunities given to young researchers' as a key factor in China's rapid ascent as a quantum leader. He recalled that when he announced his move to China in 2011, he faced skepticism from peers who distrusted Chinese research. 'Now, researchers who studied abroad prefer to return to China, indicating a complete transformation of the research ecosystem,' he said.He explained that a significant change occurred when young researchers, validated by the U.S. and Europe, were provided with ample funding and research environments to pursue their interests immediately. 'Over 10 to 15 years, this system has completely transformed the research community,' he added.During his six months leading the research group in Korea, Kim noted that the most pressing issue has been the shortage of researchers. He explained, 'Since IBS is not directly linked to universities, it is challenging to secure research personnel, and the pool of researchers in the quantum field is still small.' He acknowledged that while the group should ideally be led by PhD-level researchers, the reality is that they need to focus on training researchers first.Kim assessed that the shortage of personnel is not just a problem in research but also affects domestic equipment development and the industrial ecosystem. Currently, many essential tools for ion trap quantum research, such as lasers, vacuum equipment, and control devices, are heavily reliant on foreign sources.'China initially used mostly foreign equipment, but as the number of researchers and the market grew, they succeeded in significant domestic production,' he noted. 'Korea has the technical capability, but the market is still small, making it relatively burdensome for companies to invest.'However, he expressed confidence in Korea's potential. 'Korea has global manufacturing competitiveness, particularly in semiconductors, and by integrating this with quantum technology, there are areas where we can secure competitiveness,' he said. 'Yet, there are still not many people who understand both semiconductor and quantum technologies.'Ultimately, Kim concluded, 'Quantum competitiveness comes from people. Creating an ecosystem where young researchers can continue their work in laboratories and companies is the starting point for enhancing Korea's quantum technology competitiveness.' 2026-07-07 15:48:00
  • Gwangju Ilgo Alumni Call for Forgiveness in Response to Controversial Incident
    Gwangju Ilgo Alumni Call for Forgiveness in Response to Controversial Incident In response to the deep wounds caused by the Baekjae High School baseball team's derogatory chants about the May 18 Gwangju Uprising, Gwangju Ilgo (Gwangju Jeil High School) has extended a hand of reconciliation rather than hatred. The Gwangju Ilgo Alumni Association and school officials expressed their hope that this incident would not end in blind condemnation of the young students involved, but instead serve as a genuine opportunity for education and reflection, appealing to the Korea Baseball Softball Association for leniency. On July 7, the Gwangju Ilgo Alumni Association released a statement regarding the Baekjae High School baseball team incident, emphasizing their desire for the restoration of proper education and justice rather than punishment for the young students. This response followed an emotional apology from 86 members of the Baekjae delegation, who visited Gwangju the previous day to express their remorse and pay respects at the May 18 memorial. While acknowledging the significant hurt caused to alumni and current students, the association stressed, "We do not wish for feelings of hatred or revenge to grow against the offending students; instead, we want to embrace them with broad tolerance." They added, "It is not our desire to brand students who have sincerely repented and sought forgiveness with a scarlet letter. We hope this mistake can transform into a guiding compass for these students to lead the charge in eradicating the hate culture irresponsibly produced by adults in the future." The association also urged current students to not stop at receiving apologies but to extend a hand of tolerance to the Baekjae students, encouraging them to take the lead in advocating for leniency for those who have genuinely reflected on their actions. They earnestly appealed to the public to refrain from politicizing this tragic incident or amplifying hatred. The principal of Gwangju Ilgo also expressed support for the Baekjae baseball team’s new beginning in a final statement released that day. He stated, "I hope the reconciliation between the two schools yesterday provided some comfort, and I ask the Korea Baseball Softball Association and baseball officials to consider this act of forgiveness and reconciliation, allowing the Baekjae baseball team to start anew on the field." According to the Seoul Education Office, starting July 9, specialized personnel will conduct intensive education on history, human rights, and prevention of discrimination and hate speech for all Baekjae students until the summer break. Additionally, the office plans to conduct inspections across all school sports teams in the district regarding human rights and the right to education until August 21. The most pressing concern regarding the Baekjae baseball team’s six-month suspension is still under discussion by the school. The deadline for filing an appeal with the Korea Sports Council's Sports Fairness Committee is set for July 8, and even if an appeal is submitted, it is expected to take at least two months for a decision to be reached.* This article has been translated by AI. 2026-07-07 15:44:00
  • ARCO Summer Festival to Showcase Performing Arts Across South Korea
    ARCO Summer Festival to Showcase Performing Arts Across South Korea This summer, a series of theater, dance, music, and traditional arts festivals will take place across South Korea, from Seoul's Daehangno to Busan, Jeju, Chuncheon, and Miryang.The Korea Arts Council announced on July 7 that the '2026 ARCO Summer Festival' will run from July to September nationwide.The ARCO Summer Festival is a summer performing arts festival that brings together selected festivals from the 'Korea Performing Arts Festival.' This year, 15 festivals will be held in cities including Seoul, Busan, Jeju, Chuncheon, Miryang, Gwangmyeong, Hwaseong, Eumseong, and Cheongju.The 'Exit 1 Theater Festival' at the Daehangno Free Theater is designed for first-time theatergoers, making it accessible for those new to the experience. If you're planning a trip to Jeju, the 'Jeju International Wind Orchestra Festival' offers a chance to enjoy brass performances amidst the island's natural beauty, combining relaxation and music.The 'July Festival' will feature house concerts where audiences can enjoy French music by composers like Debussy and Ravel up close. The 'Busan Ballet Festival' adds ballet performances to your Busan travel itinerary. The 'Hicetnunc! Music Festival' will showcase contemporary classical music throughout Seoul.The 'Korea Theater Festival Busan' is a representative theater festival that highlights the trends in national theater. The 'Chuncheon Performing Arts Festival' will present dance, music, and children's performances. The 'Korea Madang Theater Festival' and the 'Rural Excellent Madang Theater Grand Festival' will feature traditional performances where actors and audiences interact outdoors. At Busan's 'Dongnae Folk Arts Festival,' attendees can experience local intangible cultural heritage, including Dongnae Yaryu and Dongnae Hakchum.Ahead of the main festival, a preview event will allow audiences to see key performances. 'Preview Week Season 2' will take place on July 25-26 at the ARCO Arts Theater in Daehangno and the surrounding Marronnier Park. Showcases will include new dance works from the Chuncheon Performing Arts Festival, youth radio from the Exit 1 Theater Festival, and traditional dance performances from the Gumusin Dance Festival.A gala stage for the 'Overseas Dance Stars Invited to Shine for Korea' will also be previewed, featuring performances by the Vortice Dance Company from Portugal, a world premiere by choreographer Heo Yong-soon from Germany's Dresden Semperoper Ballet, and popular repertoire from Yang Jong-ye's Butoh stage in Japan.Outdoor showcases of Dongnae Jisinbalgi and Madang Theater will also be held at the Marronnier Park stage. Preview Week is free for all attendees, with participation available through advance reservations on Naver. Detailed schedules can be found on the official ARCO Summer Festival website and Instagram.* This article has been translated by AI. 2026-07-07 15:44:00
  • Over 30,000 Participate in National Vote to Identify 10,000 Hidden Travel Gems
    Over 30,000 Participate in National Vote to Identify 10,000 Hidden Travel Gems A nationwide project to identify 10,000 hidden travel destinations across South Korea is gaining significant momentum. The online voting event, organized by the government and public institutions, has surpassed 30,000 participants just one week after its launch, marking a remarkable success.According to the Ministry of Culture, Sports and Tourism and the Korea Tourism Organization, the '100×100 Landmark Discovery Project' kicked off on June 29, and due to overwhelming interest, the original deadline for voting has been extended to July 17.Diverse themes attract attention in the nationwide tourism projectThis initiative is centered around 100 travel themes developed by 100 domestic travel experts. Each theme will undergo public voting to select 100 notable sites, ultimately creating a comprehensive map of 10,000 representative tourist attractions in South Korea.The themes are categorized into eight major groups: architecture, leisure/sports/experiences, nature/ecology, lifestyle, K-content, culture/art/tradition, gastronomy, and travel preferences. Each category is further divided into 100 unique sub-themes.Breaking away from conventional tourist site introductions, the project highlights popular themes such as 'Gukbap and Haejang-guk Landmarks' and 'Ideal Spots for Relaxation.' It also features trendy topics like 'K-Pop Pilgrimage Sites' and 'K-Cinema Locations' to attract foreign tourists.Local governments mobilize efforts to promote regional attractionsLocal governments are actively seeking to boost regional tourism. Cities like Gimhae, Miryang, and Gimcheon have quickly organized events linked to local candidates to encourage community participation. The ministry and the organization are sharing successful promotional examples in real-time with 226 local governments nationwide to create a broader movement.Substantial prize incentives have also contributed to the project's popularity. Participants who vote on topics of interest through the official 'Travel Month' website are automatically entered into a prize draw. Prizes include three portable smart TVs, 10 gift certificates worth 100,000 won for dining, 550 Onnuri gift certificates, and 4,000 convenience store mobile coupons.Kim Seok, head of the Korea Tourism Organization's National Tourism Division, stated, "In just one week, over 30,000 people have participated, and inquiries from local governments for collaboration are pouring in, reflecting the project's enthusiasm. We will ensure that the results of this public vote lead to tangible domestic travel demand that revitalizes the stagnant local economy through follow-up marketing efforts."* This article has been translated by AI. 2026-07-07 15:44:00
  • Prosecutors Seek 5-Year Sentence for Tae Yong-hos Son in $14 Million Crypto Fraud Case
    Prosecutors Seek 5-Year Sentence for Tae Yong-ho's Son in $14 Million Crypto Fraud Case Prosecutors have requested a five-year prison sentence for the son of Tae Yong-ho, a former lawmaker of the People Power Party, who is accused of defrauding investors of 1.4 billion won (approximately $1.1 million) through a virtual asset investment scam.The first hearing of the case against Tae's son, Tae Mo, was held on July 7 at the Seoul Central District Court, presided over by Judge Heo Jeong-ryong. During the hearing, prosecutors asked the court to impose a five-year prison term.Tae Mo was arrested and indicted in May for allegedly receiving about 1.4 billion won from acquaintances under the pretense of investing in virtual assets and promising returns. Prosecutors suspect that he exploited his status as the son of a prominent politician to solicit investment funds while failing to actually invest the money in virtual assets.Prosecutors highlighted the severity of the offense, noting the total amount of 1.4 billion won involved, the exploitation of trust from victims, and the use of a so-called 'Ponzi scheme' to repay debts with other investors' money. They stated, "The nature of the crime is serious."They also pointed out that the victims have yet to recover their losses and that repayment seems unlikely, which contributed to their request for a five-year sentence.In his closing argument, Tae Mo's attorney pleaded for leniency, stating, "He has cooperated with the investigation by providing financial transaction records and virtual asset trading details." Tae Mo himself expressed remorse, saying, "I was wrong. Please grant me leniency just this once."The court has scheduled a ruling for September 2. Previously, the same court ordered Tae Mo to pay 800 million won in damages to the victims in a related civil lawsuit.* This article has been translated by AI. 2026-07-07 15:40:00
  • Argentina and Egypt Set for World Cup Clash as Messi Faces Salah
    Argentina and Egypt Set for World Cup Clash as Messi Faces Salah Argentina's Lionel Messi and Egypt's Mohamed Salah are set to meet in the quarterfinals of the World Cup.Argentina and Egypt will face off on July 8 at 1 a.m. KST at the Atlanta Stadium in Georgia, USA, in the Round of 16 of the 2026 FIFA North America World Cup. The winner will advance to the quarterfinals to meet the victor of the Switzerland-Colombia match.Argentina holds a significant advantage in terms of overall strength. According to FIFA's men's world rankings released on June 11, Argentina is ranked first, while Egypt is in 29th place. The disparity in player market value is also substantial. According to the transfer market website Transfermarkt, the total market value of the Argentina national team is €807.5 million (approximately $1.27 billion), while Egypt's is €116.48 million (about $183 million). In terms of player value alone, Argentina's is nearly seven times that of Egypt.Argentina topped Group J with three wins in the group stage and defeated Cape Verde 3-2 after extra time in the Round of 32. Although they secured a victory, the match against debutant Cape Verde revealed some vulnerabilities for the title contenders.Egypt advanced to the knockout stage as the second place in Group G, earning five points from draws against Belgium and Iran and a win over New Zealand. In the Round of 32, Egypt drew 1-1 with Australia and won 4-2 in a penalty shootout. This victory is significant for Egyptian football, marking the first time the nation has won a match in the World Cup knockout stage.The most anticipated matchup is between Messi and Salah. At 39 years old, Messi is tied for the tournament's top scorer with seven goals alongside Kylian Mbappé and Erling Haaland. If he scores against Egypt, he could take the lead and become the first Argentine player to score eight goals in a single tournament since Guillermo Stábile in 1930.Egypt's Salah has also been a key player, despite dealing with a hamstring issue. He played the full 120 minutes against Australia in the Round of 32 and scored in the penalty shootout with a Panenka kick. In four matches this tournament, Salah has recorded one goal, two assists, and created 16 chances, playing a central role in Egypt's attack.This match represents another pivotal moment in Salah's career. While he has been recognized as a world-class forward at the club level, he has faced disappointment with the national team, including memories of World Cup near misses and a loss in the Africa Cup of Nations final. Leading Egypt to its first-ever World Cup knockout victory could change the narrative for his national team career.While Argentina's overall team value is overwhelming, Salah's current market value is higher than Messi's. According to Transfermarkt, Salah is valued at €22 million, while Messi is at €15 million. This valuation reflects factors such as age, contract situation, league, and career outlook rather than a direct comparison of skill.If Argentina wins, they will continue their quest for a second consecutive title as defending champions. Should Egypt defeat Argentina, they would become the fifth African nation to reach the World Cup quarterfinals, following Cameroon, Senegal, Ghana, and Morocco.* This article has been translated by AI. 2026-07-07 15:40:00
  • Koreas Small Business Agency Hosts Employment Camp for Specialized High School Students
    Korea's Small Business Agency Hosts Employment Camp for Specialized High School Students The Small and Medium Business Administration (SMBA) is supporting career planning for specialized high school students and enhancing the employment capabilities of skilled artificial intelligence (AI) personnel.On July 7, the SMBA announced it will hold the '2026 Specialized High School Employment Camp,' which will consist of experiential programs.The camp will combine AI education, job aptitude assessments, career planning, and programs to understand small businesses.The specialized high school workforce development initiative aims to cultivate skilled technical personnel needed by small businesses through tailored educational programs developed in collaboration with schools and companies. Students will enhance their job skills through practical training and internships, receiving support for employment in small businesses after graduation.This employment camp will take place from July 7 to 9 at the Small and Medium Business Training Center, with 116 first- and second-year students from 28 specialized high schools in the Seoul and Gangwon regions participating.Starting with the Seoul and Gangwon regions, the SMBA plans to sequentially operate 'Future Dream Employment Camps' across the country. The Honam region will host its camp from July 13 to 15, the Yeongnam region from July 22 to 24, and the Chungcheong region from July 27 to 29, with a total of over 300 specialized high school students participating nationwide.To enhance students' employment capabilities and respond to the demand for AI specialists, the SMBA selected 10 'Industry-Specific AI Contract Departments' last month, finalizing a total of 13 contract departments, including three general types.Jo Han-kyu, Director of Workforce Growth at the SMBA, stated, “I hope the Future Dream Employment Camp will provide students with the opportunity to proactively design their futures and broaden their understanding of small businesses and industrial sites. The SMBA will continue to provide various support to cultivate excellent high school graduates and alleviate the workforce shortage in small businesses.”* This article has been translated by AI. 2026-07-07 15:40:00
  • First Hearing in Major Price-Fixing Case Involving 10 Trillion Won in Starch Sugar
    First Hearing in Major Price-Fixing Case Involving 10 Trillion Won in Starch Sugar In a significant price-fixing case involving starch sugar, which is considered the largest in South Korea's history, the first hearing for food companies and their current and former executives accused of collusion took place.On July 7, the Seoul Central District Court held the initial trial for Daesang, CJ CheilJedang, Sajo CPK, and a total of 24 individuals, including current and former executives and officials from the Starch Sugar Association, charged with violating the Monopoly Regulation and Fair Trade Act.During the hearing, most defendants acknowledged their charges and expressed remorse, while some denied the allegations.Lee, the CEO of Sajo CPK, admitted to the charges and expressed deep regret. However, he stated, "I did not handle related duties before taking office as CEO in February 2024," and appealed to the court for leniency, noting his cooperation during the investigation.CJ CheilJedang also acknowledged its involvement in the collusion and expressed remorse, but requested consideration for the relatively minor extent of its participation.In contrast, Daesang's CEO, Lim Jeong-bae, completely denied the prosecution's allegations, asserting that he had never discussed price-fixing with representatives from Sajo CPK or CJ CheilJedang. His attorney stated, "There was no report or approval from staff regarding price determination through collusion," rejecting the prosecution's claims of executive involvement.Some employees from Daesang admitted to participating in collusion but denied directly reporting to or receiving instructions from CEO Lim. They claimed to have only reported relevant documents to their immediate superiors, arguing that there was no conspiracy with Lim.Additionally, Myung Mo, the head of the Starch Sugar Association, who was also indicted for facilitating meetings among food companies, generally acknowledged the charges but denied some allegations. He stated, "I admit to having facilitated meetings among company representatives, but we did not discuss specific price increases or form a consensus for joint action, and as the association head, I have no authority to set individual companies' product prices."Earlier, the Seoul Central District Prosecutor's Office launched a large-scale investigation into the starch sugar price-fixing allegations against Daesang, Sajo CPK, and CJ CheilJedang, leading to the indictment of 21 individuals, including executives and the association head, for violating fair trade laws in April.According to the prosecution, from July 2017 to October last year, these companies allegedly agreed on the price fluctuations and timing of price increases for domestic starch sugar and its byproducts, essential raw materials for various processed foods like snacks, beverages, and dairy products.The collusion involved a market size of approximately 10.152 trillion won, marking it as the largest price-fixing case in South Korea's food industry history. As a result of this widespread collusion, domestic starch prices surged by up to 73.4%, and sugar prices increased by up to 63.8%, contributing to rising prices of processed foods during a period of high inflation.Furthermore, the Fair Trade Commission announced it would impose a total fine of 747.6 billion won for the collusion, surpassing the 671 billion won fine imposed on seven flour milling companies for price-fixing in May.After concluding the hearing, the court decided to hold another preparatory hearing on August 25 at 10 a.m., considering that the defendants' evidence submissions were not fully organized.* This article has been translated by AI. 2026-07-07 15:36:00