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Belgium Defeats U.S. in World Cup, All Host Nations Eliminated Belgium triumphed over the United States, one of the co-hosts of the 2026 FIFA North America World Cup, with a decisive 4-1 victory, advancing to the quarterfinals.The match took place on July 7 at Seattle Stadium in Washington state. Belgium, which faced elimination in the group stage during the previous 2022 Qatar tournament, successfully redeemed itself by reaching the quarterfinals this time. The team aims to replicate its best-ever finish of third place from the 2018 Russia World Cup.Belgium will face Spain, which defeated Portugal 1-0, in the quarterfinals on July 11.Despite overwhelming support from home fans, the U.S. failed to advance to the quarterfinals. This result means that all three co-hosting nations—United States, Mexico, and Canada—were eliminated in the round of 16.The match garnered significant attention even before kickoff due to the 'suspension reprieve controversy.' U.S. forward Folarin Balogun received a red card in the round of 32 against Bosnia and Herzegovina on July 2, which typically would have barred him from participating in the round of 16. However, FIFA made an unusual decision to suspend the enforcement of the penalty for one year, allowing him to play. Reports indicated that President Donald Trump had requested FIFA President Gianni Infantino to reconsider the suspension, leading to allegations of 'home country favoritism' after Trump expressed gratitude to FIFA on social media.Amid the controversy, the U.S. started Balogun, but Belgium seized control early in the match. In the 9th minute, Nicolas Laskin broke through on the left side of the penalty area and assisted Charles De Ketelaere, who calmly scored the opening goal.Belgium allowed an equalizer in the 31st minute when Malik Tillman scored from a sharp direct free kick. However, just two minutes later, in the 33rd minute, De Ketelaere headed in a cross from Leandro Trossard, restoring Belgium's lead to 2-1 at halftime.In the 57th minute, Belgium capitalized on a mistake by U.S. goalkeeper Matt Freese, who was pressured by De Ketelaere while attempting to clear the ball. Hans Vanaken calmly slotted the loose ball into the empty net, extending the lead.Belgium sealed the victory in stoppage time with a goal from Romelu Lukaku, who received a pass from Vanaken and finished with a precise right-footed shot for Belgium's fourth goal.Balogun, who benefited from the suspension reprieve and played nearly the entire match, attempted three shots but was unable to score, unable to prevent his team's heavy defeat.* This article has been translated by AI. 2026-07-07 12:00:00 -
Samsung Reports Record Quarterly Operating Profit, Surpassing Nvidia Samsung Electronics achieved a record quarterly operating profit in the second quarter of this year, surpassing all global big tech companies. The surge in prices and demand for memory semiconductors, including DRAM, NAND flash, and high-bandwidth memory (HBM), driven by the expansion of artificial intelligence (AI) infrastructure, resulted in an operating profit of 150 trillion won for the first half of the year. Expectations for continued strength in memory prices and expanded HBM4 supply in the second half suggest the company could reach an annual operating profit of 400 trillion won.According to Samsung Electronics, the preliminary consolidated operating profit for the second quarter was 89.4 trillion won, marking a 1,810.3% increase compared to the same period last year. The operating profit for the first quarter was 57.2 trillion won, bringing the total operating profit for the first half to 146.6 trillion won, a 1,186% increase from 11.4 trillion won in the first half of last year. This marks the first time the company has exceeded 100 trillion won in operating profit for a half-year period.This performance is the largest quarterly result among global private tech companies. Nvidia and Apple previously reported their highest quarterly operating profits at approximately $53.5 billion (about 82 trillion won) and $50.9 billion (about 78 trillion won), respectively. Despite accounting for large one-time costs such as performance bonuses, Samsung surpassed these companies' previous records.Considering the performance bonus provisions, Samsung's actual profit-generating capacity is even greater. In May, the company and its labor union agreed to a wage negotiation that included a special management performance bonus funded by 10.5% of the operating profit from the Device Solutions (DS) division, which oversees semiconductor operations. As a result, provisions for performance bonuses of about 6 trillion won from the first quarter and approximately 11 trillion won from the second quarter, totaling around 17 trillion won, were reflected in the second quarter results. Before these provisions, the estimated operating profit for the second quarter was about 106.5 trillion won.The record performance is attributed to the increased profitability across all memory product lines, including DRAM, NAND, and HBM. As global investments in AI infrastructure continue, demand for HBM, server DRAM, and enterprise solid-state drives (eSSD) has risen sharply, while supply has struggled to keep pace, leading to a rapid increase in memory prices.Prices for DRAM and NAND rose by 80-85% in the first quarter compared to the previous quarter and surged by around 50% in the second quarter. Market research firm Counterpoint Research estimates that the global memory market size in the second quarter will reach 350 trillion won, an increase of over 60% from the previous quarter. The upward trend in memory semiconductor prices is expected to continue in the second half. Market research firm TrendForce predicts that DRAM prices, which have already reached an all-time high, will rise an additional 13-18% in the third quarter.The expansion of profitability due to rising semiconductor prices is likely to persist for the foreseeable future. As memory prices soar, customers are increasing long-term supply agreements (LTA) to secure stable volumes. In the second quarter, the proportion of LTAs in Samsung's memory supply contracts was about 30%, and this is expected to increase in the third quarter.The contribution of HBM, a high-margin product, is expected to grow even more in the second half. Samsung began mass production of the world's first sixth-generation HBM, HBM4, in February, and within about four months, related sales surpassed $1 billion (approximately 1.5 trillion won). Recent reports indicate that cumulative sales have exceeded $1.2 billion (about 1.85 trillion won). HBM4 is set to be integrated into Nvidia's next-generation AI accelerator, 'Lovelace,' which is expected to boost sales and profit contributions starting in the second half.There are projections that Samsung's annual operating profit will exceed 300 trillion won and could reach 400 trillion won. Analysts estimate the average annual operating profit for this year to be around 374 trillion won. Some global investment banks, including Citi, foresee annual operating profit estimates reaching 400 trillion won. With 146.6 trillion won already earned in the first half and continued price increases for DRAM and NAND, along with expanded HBM4 supply, the company is likely to achieve profits exceeding those of the first half. 2026-07-07 11:40:00
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Ruling Party Plans to Hold National Assembly Session on July 9 to Address Livelihood Bills The Democratic Party announced plans to hold a plenary session on July 9 to address numerous livelihood bills that have passed through committees but have not yet been voted on. This decision comes despite the People Power Party's declaration of a boycott regarding committee formation.Han Byeong-do, the party's acting leader and floor leader, made this statement during a legislative countermeasures meeting at the National Assembly. He noted, "The People Power Party continues its boycott of livelihood issues." Following this, Han and other party leaders visited National Assembly Speaker Cho Jeong-sik to request the opening of the plenary session.After discussions with Speaker Cho, Kim Han-kyu, the party's deputy floor leader, told reporters, "There are bills that can be processed without contention between the parties, so we asked Speaker Cho to convene the plenary session." He added that Speaker Cho is well aware of the situation regarding bill processing and encouraged further negotiations between the parties.Kim emphasized, "We will demand that the People Power Party cooperate swiftly on committee formation to facilitate the processing of bills in this week's plenary session."Cheon Jun-ho, the party's senior deputy floor leader, stated, "According to the National Assembly Act, plenary sessions for processing bills are to be held every Thursday, separate from committee formation, and we will discuss this with the People Power Party."Previously, the Democratic Party unilaterally elected chairs for 11 committees, including the Legislation and Judiciary Committee and the Political Affairs Committee, on June 30. In response, the People Power Party announced a boycott, leading to heightened tensions, with the Democratic Party criticizing the People Power Party for its stance on livelihood issues and the People Power Party accusing the Democratic Party of monopolizing the National Assembly.* This article has been translated by AI. 2026-07-07 11:40:00
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Korean Air and Labor Union Reach Agreement on 2.5% Wage Increase and Special Bonus Korean Air and its labor union have reached a final agreement on a 2.5% wage increase based on total salary and a special bonus for employees as part of the 2026 wage and collective bargaining agreement.On July 7, Korean Air announced that it held a signing ceremony for the 2026 collective bargaining agreement at its headquarters in Gangseo-gu, Seoul, attended by Vice Chairman Woo Ki-hong and Labor Union Chairman Cho Young-nam, among other labor relations representatives.Vice Chairman Woo stated, "This is a crucial time for all employees to put forth their utmost effort for the successful launch of the integrated Korean Air and its establishment as a true global network carrier. I hope we can write a new chapter in the history of a united Korean Air, drawing on the strength we have built together over the past half-century to overcome crises as one."Under the agreement, Korean Air will increase the base salary for general, technical, and cabin crew employees by 2.5% based on total salary, effective April 1.Additionally, to recognize the efforts and dedication of employees during the ongoing merger with Asiana Airlines, the company will provide a special bonus of 2 million won per person, scheduled for distribution on December 10.The company and the union also agreed on various reforms to improve working conditions and employee benefits. This includes enhancements to promotion and vacation systems, as well as expanded criteria for employee flight ticket usage.A Korean Air representative stated, "We will continue to foster a culture of cooperation and trust between labor and management, and we will strive to create a work environment where employees can grow together."* This article has been translated by AI. 2026-07-07 11:40:00
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Democratic Party Prepares to Support Lee Government in Second Year The Democratic Party's National Party Convention Preparation Committee emphasized the need to support the Lee Jae-myung government as it enters its second year in power during a meeting on July 7. The committee also warned of strong measures against internal factional conflicts that have arisen over the upcoming party leadership election.During its third meeting at the National Assembly, the committee began serious discussions in preparation for the party convention scheduled for August 17.Lee Hak-young, the committee chair, stated, "South Korea is at a crucial point as the Lee Jae-myung government enters its second year, where the successful implementation of key national projects, including three major mega-projects, is essential. At the same time, the economic crisis stemming from the Middle East is exacerbating difficulties for the public. Given the seriousness of the situation, the ruling party must swiftly stabilize its system to support governance and strengthen livelihoods."Lee also expressed concern over the ongoing factional conflicts following the announcement by former Prime Minister Kim Min-seok to run in the party convention.He asserted, "The preparation committee aims to make this party convention a platform for unity and vision. It should be a constructive discussion focused on the future and vision, rather than a venue for destructive slander or negativity among party members."Furthermore, Lee announced plans to restructure the party to focus on youth and future generations during the upcoming convention.He said, "The Democratic Party will concentrate on youth more than ever to ensure that the warmth of growth reaches their lives, fundamentally changing the party's structure. We will actively gather various opinions to create a Democratic Party that benefits young people's lives and offers hope for the future."* This article has been translated by AI. 2026-07-07 11:36:00
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Shincheonji Leader Lee Man-hee's Trial Set for July 24 Over Allegations of Political Coercion Lee Man-hee, the leader of the Shincheonji Church of Jesus, will face his first trial on July 24, charged with directing members to join a specific political party.According to legal sources on July 7, the Seoul Central District Court's Criminal Division 1, presided over by Judge Lee Chun-geun, will conduct the initial hearing at 9:50 a.m. on charges of violating party law and obstructing business.Lee is accused of mobilizing church leaders to forcibly enroll over 50,000 members into the People Power Party since 2021.The joint investigation team, led by Chief Prosecutor Kim Tae-hoon, found that Shincheonji operated a project disguised as a Pilates club in 2023 to encourage organized party membership against the will of its members, which they determined obstructed the normal management and review processes of the political party.As a result, the investigation team deemed the evidence sufficient and requested an arrest warrant for Lee on June 22, which the court granted. Following this, Lee applied for a review of his detention due to his age, but the court rejected the request. Considering the approaching statute of limitations for election-related charges, the team indicted Lee while he remained in custody on June 29.In conjunction with Lee's trial, actions against key Shincheonji leaders who facilitated the organized membership drive are imminent. The investigation team plans to indict three individuals, including former General Secretary Go Dong-an and former secretaries of the Johan and Simon factions, on charges of violating party law. They were already detained on June 17.A critical aspect of the investigation is whether the indictments will include allegations of political lobbying. The team has been investigating Go's embezzlement of hundreds of millions of won, suspecting that these funds may have flowed into political circles. Go also served as the head of foreign policy, responsible for recruiting politicians during the 20th presidential election.The investigation team is reportedly scrutinizing not only the accounts of Go and his associates but also financial transactions with Lee Hee-ja, suspected of acting as a bridge between Shincheonji and political circles.However, it has been reported that there is no clear evidence confirming whether the substantial funds generated during the COVID-19 pandemic were actually delivered to political figures.* This article has been translated by AI. 2026-07-07 11:32:00
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Hyundai Motor Group Ranks 7th in Global Electric Vehicle Sales, Up 24% Year-Over-Year Hyundai Motor Group has secured the seventh position in global electric vehicle sales, making strides toward the top five. According to market research firm SNE Research, from January to May this year, Hyundai and Kia delivered 303,000 electric vehicles (including plug-in hybrids), marking a 24.3% increase compared to the same period last year. Overall global sales rose by 3.5% to 7.754 million units.Maintaining its seventh-place ranking, Hyundai Motor Group has narrowed the gap with sixth-place Changan from 78,000 units to 27,000 units. Its market share increased from 3.3% to 3.9%.SNE Research noted, "Hyundai Motor Group recorded the highest growth rate among the top seven automakers, driven by a recovery in the European market and expansion in non-Chinese Asian markets."The top spot in global electric vehicle sales is held by BYD, China's largest electric vehicle manufacturer, which reported cumulative sales of 1.157 million units from January to May, a 21.5% decrease from the previous year. Its market share also fell from 19.7% to 14.9%.Geely, another Chinese electric vehicle manufacturer, ranked second with sales of 779,000 units, down 3.9% from the previous year. Tesla came in third with 601,000 units sold, followed by Volkswagen with 542,000 units. Shanghai Automotive Industry Corporation (SAIC) ranked fifth with a 6.4% increase, totaling 458,000 units.Regionally, China remains the largest market with 4.163 million units sold, although this represents a 10.4% decline from last year. Its market share dropped from 62.0% to 53.7%.Europe saw a 27.5% increase, reaching 1.988 million units, while non-Chinese Asia experienced a 75.0% rise to 747,000 units. North America recorded a 27.6% decrease, totaling 517,000 units.* This article has been translated by AI. 2026-07-07 11:28:00
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DIA to Hold First Solo Concert in Eight Years, 'Season of Green' 싱어송라이터 디아(DIA)가 8년 만에 단독 콘서트를 연다. 디아는 오는 11일 오후 6시 서울 마포구 구름아래소극장에서 단독 콘서트 ‘초록의 계절’을 개최한다. 이번 공연은 약 8년 만에 열리는 단독 공연으로, 200석 규모로 진행된다. 디아는 ‘하루종일 비가 내렸어’, ‘선샤인 러브(Sunshine Love)’, ‘온세상에 눈이 내리면’ 등으로 이름을 알렸다. 최근에는 노을 아래 창가에 누워 라이브를 선보인 영상이 사회관계망서비스(SNS)에서 화제를 모으며 다시 주목받았다. 이번 공연에서도 디아는 무대 위에 누워 노래하는 연출을 선보일 예정이다. 공연은 VCR과 라이브를 연결하는 구성으로 꾸며지며, 어린 시절의 추억과 상실, 성장의 감정을 하나의 흐름으로 풀어낼 계획이다. 공연과 함께 더블 타이틀 싱글 ‘네버랜드(Neverland)’도 발매된다. 싱글에는 동명의 타이틀곡 ‘네버랜드’와 ‘초록의 계절’ 두 곡이 수록된다. ‘네버랜드’는 어린 시절의 추억에서 영감을 받아 만든 곡으로, 신스 사운드와 밴드 사운드를 결합해 현실과 기억의 경계를 표현했다. ‘초록의 계절’은 록 밴드 사운드를 바탕으로 여름의 청량함과 지나간 청춘에 대한 회상을 담은 곡이다. 디아의 정규앨범 수록곡 ‘안녕’은 해외에서 역주행하며 누적 3억 스트리밍을 기록하기도 했다. 디아는 “사람들에게 잠시 쉬어갈 수 있는 음악을 만들고 싶었다”며 “이번 공연이 누군가에게는 잊고 있던 기억을 떠올리는 시간, 또 다른 누군가에게는 오늘을 살아갈 작은 위로가 되었으면 좋겠다”고 전했다.* This article has been translated by AI. 2026-07-07 11:28:00
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KOSPI Plummets Over 5%, Triggering Sell Sidecar as It Falls Below 7600 The KOSPI index dropped more than 5%, falling below the 7600 mark. A wave of selling by foreign and institutional investors has led to a significant decline in market sentiment, prompting the activation of a sell sidecar for KOSPI 200 futures.As of 11:11 a.m. on July 7, the KOSPI was trading at 7644.66, down 406.67 points (5.05%) from the previous trading day.The index widened its losses early in the session, and at 10:23 a.m., KOSPI 200 futures prices fell more than 5% from the reference price for a minute, triggering the sell sidecar. Consequently, the effectiveness of program sell orders was suspended for five minutes. This marks the 16th activation of a sell sidecar in the securities market this year.In the securities market, foreign and institutional investors sold a net 1.9289 trillion won and 354.9 billion won, respectively, leading the index decline. In contrast, individual investors bought a net 2.2435 trillion won, absorbing the selling pressure.Most of the top market capitalization stocks showed weakness. Samsung Electronics fell 7.08%, SK Hynix dropped 5.89%, SK Square declined 8.63%, Samsung Electro-Mechanics decreased 7.60%, LG Energy Solution fell 7.62%, Hyundai Motor dropped 5.48%, Samsung Life Insurance decreased 6.86%, and Samsung C&T fell 4.45%.At the same time, the KOSDAQ index recorded a decline of 7.61 points (0.90%), reaching 839.46.In the KOSDAQ market, foreign and institutional investors bought a net 120.2 billion won and 125 billion won, respectively. However, individual investors sold a net 240.7 billion won, indicating profit-taking activity.Among the top market capitalization stocks, Alteogen rose 3.78%, Juseong Engineering increased 0.28%, Kolon TissueGene gained 4.08%, HLB rose 4.31%, and ABL Bio increased 5.65%. Conversely, EcoPro BM fell 1.31%, EcoPro dropped 1.52%, Rainbow Robotics decreased 3.02%, Wonik IPS fell 5.94%, and Rino Technology dropped 3.74%.Jin-hyuk Kang, a researcher at Shinhan Investment Corp, stated, "Despite Samsung Electronics' strong performance, a 'sell-on' sentiment emerged, leading to profit-taking in semiconductor stocks. Additionally, the impact of Hanwha Ocean's CPSP order failure has caused weakness in shipbuilding and defense stocks, increasing market volatility." 2026-07-07 11:28:00
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Investors take profit instead of celebrating Samsung Elec record Q2 SEOUL, July 7 (AJP) — South Korea's main bourse sank Tuesday along with chip giants as investors took Samsung Electronics' second-quarter earnings as a cue to take profits rather than celebrate the record performance. As of 11:00 a.m., the benchmark KOSPI had plunged 4.29 percent to 7,697.18. The junior KOSDAQ edged down 0.41 percent to 843.60. Samsung Electronics estimated second-quarter operating profit at 89.4 trillion won, a figure that could approach 10 trillion won excluding one-off bonus payments to employees. The astronomical result nevertheless stoked concerns that the AI-driven boom may be nearing its peak. The market bellwether fell 6.45 percent to 297,500 won in morning trading. No. 2 chipmaker SK hynix also lost nearly 6 percent to 2,209,000 won as investors pulled money from Seoul ahead of its $29 billion American depositary receipt (ADR) listing on the Nasdaq. The stock nevertheless remained a favorite among retail investors. On Monday, the KODEX SK hynix Single Stock Leverage ETF attracted 111.2 billion won in net purchases from individuals, the largest daily inflow among domestic ETFs, as they bet the stock still had room to rise after gaining U.S. market exposure. Defense shares also weighed heavily on the benchmark after Canada selected Germany's Thyssenkrupp Marine Systems (TKMS) over the Hanwha Ocean-led Korean consortium as the preferred bidder for its next-generation submarine program. Hanwha Ocean tumbled 22.57 percent to 89,900 won after the setback, while fellow bidder HD Hyundai Heavy Industries fell 3.95 percent. Most other blue-chip stocks also retreated, with SK Square falling 9.83 percent to 1,348,000 won, Samsung Electro-Mechanics down 8.59 percent to 167,100 won, Samsung Life Insurance losing 8.13 percent to 361,500 won, LG Energy Solution declining 6.77 percent to 330,500 won, Hyundai Motor dropping 6.57 percent to 469,000 won and Samsung C&T slipping 5.78 percent to 423,500 won. Meanwhile, brokerage firms said biotechnology shares could be re-rated as the government prepares to introduce a new classification system for the KOSDAQ market. Hana Securities said the system could help restore confidence among foreign and institutional investors, while premium stock classifications, technology transfer announcements and major medical conferences are expected to improve sentiment from the fourth quarter. The optimism was reflected in Tuesday's trading, with biotechnology shares outperforming the broader market. Alteogen rose 1.81 percent to 337,000 won, HLB gained 2.51 percent to 49,975 won and Abelbio jumped 4.77 percent to 94,500 won, helping support the KOSDAQ despite broader market weakness. Overnight, Wall Street closed higher as easing oil prices and optimism over the U.S. earnings season offset weakness in semiconductor shares. The S&P 500 rose 0.72 percent and the Nasdaq gained 1.12 percent, though the gains did little to lift sentiment in Seoul. Japan's Nikkei 225 fell 1.35 percent, mirroring the retreat in Seoul's chip sector. China's Shanghai Composite slipped 0.45 percent. Hong Kong's Hang Seng, however, bucked the regional trend, rising 0.31 percent. 2026-07-07 11:24:42