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  • Kukon Completes Proof of Concept for Stablecoin Payments with iM Bank and Bitose
    Kukon Completes Proof of Concept for Stablecoin Payments with iM Bank and Bitose Business data platform company Kukon announced on July 7 that it has completed a proof of concept (PoC) for a stablecoin-based payment ecosystem in collaboration with iM Bank and blockchain firm Bitose.This PoC was conducted amid growing discussions on the institutionalization of stablecoins, aiming to verify the feasibility of implementing stablecoin-based payment services through collaboration between banks, payment infrastructure, and blockchain companies.Kukon played a key role in this verification by utilizing its own payment data API and infrastructure integration technology to connect iM Bank's financial infrastructure with Bitose's blockchain and cryptocurrency payment gateway (CPG).The project successfully integrated the entire process from user payment requests to merchant information retrieval, blockchain-based payment processing, and result notifications, ensuring a stable environment for processing payment data across different systems.Additionally, a process was established to transparently record payment details using blockchain technology, allowing merchants to receive immediate settlements.Based on the results of this PoC, Kukon plans to explore the commercialization of stablecoin-based payment and settlement services and expand its application in digital financial services.Kukon CEO Kim Jong-hyun stated, "We have confirmed the possibility of connecting existing financial infrastructure with blockchain payment systems into a single payment flow. We will expand our role as a technology partner in the digital asset ecosystem based on our financial API platform and payment network capabilities."* This article has been translated by AI. 2026-07-07 09:16:00
  • LG Energy Solution Reports Q2 Operating Profit of 113.3 Billion Won
    LG Energy Solution Reports Q2 Operating Profit of 113.3 Billion Won LG Energy Solution has successfully returned to operating profit in the second quarter of this year. Despite ongoing challenges from declining electric vehicle demand and a sluggish battery market, the impact of tax credits under the U.S. Inflation Reduction Act (IRA) contributed to the company's recovery from a loss just one quarter prior.On July 7, LG Energy Solution announced its preliminary consolidated results for the second quarter of 2026, reporting sales of 7.56 trillion won and an operating profit of 113.3 billion won. This marks a 24.8% increase in sales compared to the same period last year and a 15.3% increase from the previous quarter.The operating profit represents a turnaround from a loss of 207.8 billion won in the previous quarter. However, it is a 77.0% decrease compared to the operating profit of 492.1 billion won from the same quarter last year.The turnaround is attributed to the effects of the Advanced Manufacturing Production Credit (AMPC) under the IRA, with LG Energy Solution reporting a tax credit amount of 241 billion won for the second quarter. Excluding this credit, sales would have been 7.32 trillion won, resulting in an operating loss of 127.7 billion won.Additionally, LG Energy Solution announced last month that it has surpassed approximately 59,000 registered global patents and over 100,000 applications. This achievement marks the first time a global battery company has exceeded 100,000 patent applications worldwide.* This article has been translated by AI. 2026-07-07 09:08:00
  • U.S. Stock Market Rises on AI Semiconductor Gains; Samsungs Earnings in Focus
    U.S. Stock Market Rises on AI Semiconductor Gains; Samsung's Earnings in Focus The U.S. stock market closed higher, driven by gains in artificial intelligence (AI) semiconductor stocks. However, the domestic market is expected to experience increased volatility due to Samsung Electronics' second-quarter earnings announcement and profit-taking sentiment following recent gains.On July 6, the Dow Jones Industrial Average rose by 155.84 points (0.29%) to close at 53,055.91. This marks the first time the Dow has closed above 53,000. The S&P 500 index increased by 54.19 points (0.72%) to finish at 7,537.43, while the tech-heavy Nasdaq composite gained 288.49 points (1.12%) to end at 26,121.16.AI semiconductor stocks led the rebound after a recent correction. Broadcom rose by 3.73%, while Nvidia increased by 0.37%, Micron by 0.96%, and Intel by 1.54%. Meta surged by 2.98%, and Tesla jumped by 6.69%, boosting investor sentiment in tech stocks.International oil prices fell as Saudi Arabia reduced crude oil prices for Asia and the Organization of the Petroleum Exporting Countries (OPEC) Plus decided to increase production by 188,000 barrels per day starting in August, reflecting expectations of increased supply. West Texas Intermediate (WTI) crude for August delivery settled at $68.55 per barrel, down 0.2%, while Brent crude fell 0.18% to $71.99 per barrel.Despite the strength in U.S. markets, the domestic market is anticipated to focus on investor sentiment and profit-taking following Samsung Electronics' earnings announcement.Samsung's preliminary operating profit for the second quarter was reported at 89.4 trillion won, exceeding market expectations of 85 trillion won. However, some analysts had anticipated profits exceeding 90 trillion won, raising the possibility of profit-taking following the announcement.As of 8:49 a.m., Samsung Electronics was down 3.77% in the NXT pre-market, while SK Hynix fell 2.56%. Other major stocks, including SK Square (-2.07%), Hyundai Motor (-1.99%), Samsung Electro-Mechanics (-1.97%), Samsung Life Insurance (-2.54%), Samsung C&T (-2.45%), Samsung Biologics (-1.00%), and Kia (-1.18%), also showed declines.Market analysts have identified semiconductor investment sentiment, Samsung's earnings, and the listing of SK Hynix's American Depositary Receipts (ADRs) as key factors for the market this week.Han Ji-young, a researcher at Kiwoom Securities, stated, "This week, changes in semiconductor investment sentiment and the sustainability of sector rotation will be the market's primary focus. While macro events such as the June Federal Open Market Committee (FOMC) minutes are scheduled, the events that will influence market direction and volatility will be Samsung's preliminary earnings and the listing of SK Hynix's ADRs."She added, "The favorable external environment, including the strength of the U.S. stock market and easing oil price pressures, is positive. However, the key short-term point of interest will be whether there will be sell-on news after Samsung's preliminary earnings and whether there will be follow-up buying due to alleviated concerns about the industry. This week, the recovery of profit momentum centered on semiconductors will determine the strength of the domestic market's rebound."* This article has been translated by AI. 2026-07-07 09:04:00
  • NH Bank Supports Food Tech Companies to Boost K-Food Industry
    NH Bank Supports Food Tech Companies to Boost K-Food Industry NH Bank is launching financial support for food tech companies to enhance the competitiveness of the K-Food industry. The initiative focuses on identifying companies with technological capabilities and assisting them in securing funding and entering global markets. On July 7, NH Bank announced it has signed a memorandum of understanding (MOU) with the Korea Food Industry Association and the Technology Guarantee Fund for financial support of food tech companies aimed at expanding K-Food globally. This agreement comes as interest in K-Food grows in overseas markets, aiming to support the growth of food tech companies that combine food industry and technology. Food tech refers to industries that integrate advanced technologies such as artificial intelligence, big data, and biotechnology into food manufacturing, distribution, and consumption processes. Under the MOU, the Korea Food Industry Association will identify promising food tech companies, while NH Bank will recommend these companies to the Technology Guarantee Fund for financial support. The Technology Guarantee Fund will provide technology guarantees to the recommended companies. NH Bank will offer various financial support and tailored financial services to these companies. The three organizations plan to establish a support system that links finance and guarantees to reduce the financial burden on food tech companies. They aim to develop financial support strategies that align with the growth stages and business characteristics of the companies, going beyond simple funding. Eom Eul-yong, Deputy Head of Corporate Finance at NH Bank, stated, "As the financial institution closest to the food industry, we will continue to expand financial support to ensure that excellent food tech companies can grow and thrive securely." * This article has been translated by AI. 2026-07-07 09:00:00
  • Oil Prices Stabilize, Raising Questions About Price Cap Policy
    Oil Prices Stabilize, Raising Questions About Price Cap Policy Dubai crude oil prices have stabilized at $65.13 per barrel, returning to levels seen before the Middle East conflict, while domestic gas prices have also dropped to around 1,800 won. As oil prices stabilize, the likelihood of the government ending its oil price cap policy is increasing.As of July 7, the national average prices were reported at 1,895 won per liter for gasoline, 1,882 won for diesel, and 1,135.16 won for LPG. Although these prices are higher than the levels recorded immediately after the outbreak of the war on March 1—1,747 won for gasoline, 1,680 won for diesel, and 1,011 won for LPG—the return of international oil prices to pre-war levels has diminished the necessity for maintaining the price cap.The focus of the policy is shifting from price control to loss compensation. The Ministry of Trade, Industry and Energy has begun the process of compensating refiners for losses incurred under the price cap policy. The four major refiners—SK Energy, GS Caltex, HD Hyundai Oilbank, and S-Oil—are reportedly assessing their losses through accounting firms. Minister of Trade, Industry and Energy Kim Jeong-kwan stated at a press conference last month that actual compensation is expected to take place in the fourth quarter, indicating that loss assessments will be completed within this year.The first period for loss assessment covers March 13, when the price cap was implemented, to June 30. The government is accepting initial loss claims until the end of August. Previously, the government announced regulations for compensating refiners, outlining cost assessment criteria that include crude oil import costs, production and sales costs, and other related expenses.Crude oil import costs encompass the purchase price of crude oil and other petroleum products, transportation fees, insurance, and ancillary costs. Production and sales costs include depreciation, labor costs, fuel costs, and domestic distribution expenses.However, the criteria for 'other related expenses' are not clearly defined, which may lead to prolonged discussions regarding this category. The government plans to review cost assessments, margin determinations, verification of financial support application documents, and decisions on whether to provide support and the amount through a compensation committee.Meanwhile, the four major refiners were recently indicted for allegedly colluding to inflate oil prices following the U.S.-Iran conflict.* This article has been translated by AI. 2026-07-07 08:56:00
  • Hyundai Motor Group to Transfer Plug and Charge Technology for EV Infrastructure Expansion
    Hyundai Motor Group to Transfer Plug and Charge Technology for EV Infrastructure Expansion Hyundai Motor Group is taking the lead in promoting the domestic expansion of Plug and Charge (PnC) technology. On July 6, Hyundai Motor Group signed a memorandum of understanding (MOU) with the Ministry of Climate, Energy and Environment and the Korea Environment Corporation in Yongsan, Seoul, to establish a PnC certification system for electric vehicles in South Korea. As part of this agreement, the PnC certification technology and authority will be transferred at no cost. PnC is an international standard technology that automates the entire process of member authentication, charging, and payment when a charging cable is connected to an electric vehicle. Unlike traditional electric vehicle charging, which requires a membership card or credit card, PnC uses encrypted authentication between the vehicle and the charger, providing a safer and more convenient charging service. However, the varying PnC certification methods among manufacturers and charging companies have caused customer inconvenience and hindered the technology's dissemination. This MOU aims to alleviate these issues for electric vehicle customers in South Korea and expand PnC technology to a wider range of charging stations. Hyundai Motor Group will transfer the PnC certification and issuance authority, which has been in operation since 2021, to the Ministry of Climate, Energy and Environment at no cost. The Korea Environment Corporation will establish a government-integrated certification system to make this certification system and technology accessible to all. The Ministry will manage and support the efficient operation of this integrated certification system. A Hyundai Motor Group official stated, "We are transferring the technology at no cost to ensure that all electric vehicle customers can enjoy a more convenient charging experience. We will do our best to establish a world-class EV infrastructure based on Hyundai Motor Group technology." Meanwhile, Hyundai Motor Group is focusing on improving the convenience of electric vehicle charging and enhancing infrastructure to lay the groundwork for the transition to electrification. The transfer of PnC technology is seen as a step to increase usability across the entire domestic electric vehicle ecosystem.* This article has been translated by AI. 2026-07-07 08:52:00
  • Hana Securities Raises Target Price for Kolmar Korea, Predicts Strong Performance
    Hana Securities Raises Target Price for Kolmar Korea, Predicts Strong Performance Hana Securities has projected that Kolmar Korea's performance will exceed market expectations for the time being, raising its target price to 140,000 won while maintaining a 'buy' rating.Park Jong-dae, a researcher at Hana Securities, stated in a report that "this year, the Korean cosmetics industry is enjoying its largest global momentum ever, with exports increasing by over 25% compared to the previous year."He estimated that Kolmar Korea's consolidated sales and operating profit for the second quarter would grow by 14% and 28% year-on-year, reaching approximately 831.5 billion won and 94.4 billion won, respectively, calling it a significant performance considering last year's high base.While acknowledging the disappointment of losses in the North American business, he noted the stabilization of operations in China and the potential for Yeonwoo to turn a profit as positive signs. He added, "In the context of increased uncertainty in supply due to the Middle East conflict, having a large inventory of plastics has been beneficial for securing orders."Furthermore, he remarked that although the peak season for sunscreen products has passed in the second quarter, growth rates are expected to remain strong in the second half of the year. "Ninety percent of sunscreen exports are directed towards Europe, and the effects of entering new regions and channels are significant," he explained.He also emphasized the need to watch for potential reorders of cream products from a global luxury brand, noting that initial sales in the first quarter have shown positive consumer responses, increasing the likelihood of reorders. This marks the first time a Korean original design manufacturer (ODM) has produced high-end skincare products for a global luxury brand.* This article has been translated by AI. 2026-07-07 08:48:00
  • Samsung Electronics Reports Record Q2 Operating Profit of 89.4 Trillion Won
    Samsung Electronics Reports Record Q2 Operating Profit of 89.4 Trillion Won Samsung Electronics achieved a record operating profit of 89.4 trillion won ($67.5 billion) and revenue of 171 trillion won ($130.5 billion) in the second quarter of this year, marking the third consecutive quarter of record results. Despite a performance bonus provision nearing 20 trillion won, the company reported more than double the operating profit of last year’s annual total in just one quarter. The expansion of investments in artificial intelligence (AI) has led to a supercycle in memory semiconductors, resulting in unprecedented performance among global tech giants.On July 7, Samsung Electronics announced that its consolidated operating profit for the second quarter was 89.4 trillion won, a staggering 1,810.3% increase compared to the same period last year. Revenue rose by 129.3% to 171 trillion won. The operating profit exceeded market expectations of 84.16 trillion won by 6.2%.Since the fourth quarter of last year, Samsung has set new records for both revenue and operating profit for three consecutive quarters. Notably, the second quarter operating profit surpassed last year’s total annual operating profit of 43.6 trillion won. The combined operating profit from 2021 to 2023 is estimated to be over 82.87 trillion won.When compared to other global tech giants, Samsung's results are remarkable. Nvidia and Apple reported their highest quarterly operating profits at approximately $53.5 billion (about 82 trillion won) and $50.9 billion (about 78 trillion won), respectively. Samsung's operating profit for this quarter alone exceeded these previous records.Additionally, this performance includes one-time costs such as a large performance bonus provision in the Device Solutions (DS) division. In May, the DS division's labor and management agreed to introduce a special management performance bonus linked to operating profit. The related provisions, estimated to be close to 20 trillion won, suggest that the second quarter operating profit could exceed 110 trillion won when excluding these costs.The surge in performance was driven by memory semiconductors. Continued global investment in AI infrastructure has intensified supply shortages, particularly for high-bandwidth memory (HBM) and enterprise solid-state drives (eSSD). The demand for AI has also spread to general DRAM and NAND flash, leading to a sharp increase in memory prices. Industry estimates suggest that the DS division alone generated around 80 trillion won in operating profit.Samsung's substantial memory production capacity has also provided a competitive advantage in a supplier-dominant market. Recently, the company became the first in the world to mass-produce the sixth-generation HBM, HBM4, while also increasing the share of high-value products. As Samsung continues to secure long-term supply contracts with global tech companies and expand production capacity, concerns about a semiconductor peak-out are beginning to ease.In contrast, the Device Experience (DX) division, which handles finished products, has reported relatively weak performance due to cost pressures from rising prices of key components like semiconductors. Analysts estimate that the operating profit for the Mobile Experience (MX) and Network divisions ranges from 500 billion to 1 trillion won, while the TV (VD) and home appliances (DA) divisions are expected to generate less than 100 billion won. Operating profits for Samsung Display and Harman are estimated at around 500 billion won and between 200 billion to 300 billion won, respectively.Looking ahead to the second half of the year, the expansion of HBM4 supply and improvements in foundry process yields may lead to further increases in performance. Recent market forecasts for Samsung's annual operating profit have risen from 366 trillion won to 374 trillion won over the past month.* This article has been translated by AI. 2026-07-07 08:44:00
  • Buffet Service Ends at Songpas Helio City Amid Controversy
    Buffet Service Ends at Songpa's Helio City Amid Controversy The buffet service at Helio City, a large apartment complex in Songpa District known for its unique dining options, has ended, following reports of unmannerly behavior by some patrons. According to the real estate industry on July 7, the catering company 'Jun Food and Culture' announced that it would cease operations after July 2 due to the expiration of its contract. Since July 2024, the company had provided buffet services featuring 50 to 60 menu items for lunch at 9,000 won and dinner at 10,000 won. The buffet, which included a variety of side dishes and main courses, gained attention online as a 'value buffet.' Initially, it was so popular that long lines formed during meal times, but usage gradually declined. Some residents expressed that the service felt burdensome for an apartment community. Additionally, rising prices for food and raw materials due to the Middle East conflict reportedly increased operational challenges. Complaints about unmannerly behavior from some customers also surfaced. A post in a real estate community claimed that some patrons paid for one serving but took two to three servings or secretly packed food to go, sparking controversy. However, a representative from the Helio City complex refuted claims that the restaurant closed due to operational difficulties. The official stated that Jun Food and Culture did not participate in the re-bidding process, and a new company, 'Seongsu Haneul,' is set to take over. The representative added, "We plan to resume restaurant operations as soon as we receive the necessary permits from the Songpa District Office."* This article has been translated by AI. 2026-07-07 08:44:00
  • President Lee: Setbacks in Bidding are Stepping Stones for K-Defense Industry
    President Lee: 'Setbacks in Bidding are Stepping Stones for K-Defense Industry' President Lee Jae-myung stated on July 7 that Hanwha Ocean's failure to be selected as the preferred bidder for Canada's submarine project (CPSP) is a reminder that challenges often come with both successes and disappointments. He emphasized the importance of continuing to move forward. In a post on Facebook, President Lee remarked, "Although we did not achieve the expected results in this Canadian submarine project, I believe we have once again demonstrated our capabilities to the international community." He added, "Above all, our submarines have proven their excellent performance and technology by competing confidently with leading submarine nations. I am confident that today’s experience will serve as a valuable foundation for further enhancing our technology and competitiveness." President Lee affirmed, "The bold challenges of K-defense will continue. The government will do everything possible, from research and development to export support and strengthening international cooperation, to ensure that our submarines protect peace and safety in the world's oceans." He also noted, "The defense industry of South Korea is emerging as a new growth engine that the world is paying attention to and is a core industry for national competitiveness. These achievements are the fruits of the hard work of countless researchers, engineers, businesspeople, and our service members who have worked together." President Lee mentioned that July 8 is designated as 'Defense Industry Day' to commemorate the day the turtle ship was first deployed in combat. He expressed deep gratitude and respect to all those who have contributed to elevating the status of 'K-defense' to a global level. Kang Hoon-sik, Chief of Staff to the President, acknowledged on Facebook the Canadian government's decision, which considered various factors such as economic and industrial cooperation, security, and costs. He expressed disappointment, stating, "It is true that I feel a great sense of loss, as I was directly involved in the field as a special envoy of the President and poured all our efforts into this project with our 'Defense Industry One Team.'" Kang emphasized that the significance of this challenge is not small, stating, "It has served as a clear opportunity to imprint the technological prowess of South Korean submarines and our industrial competitiveness in the global market." He concluded, "I will not let this result be merely a consolation of 'we lost but fought well.' We will address the shortcomings and further strengthen our advantages to ensure that we achieve shining results in the next challenge." 2026-07-07 08:44:00