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Nolan's 'Odyssey' Receives Praise for Unique Trojan Horse Scene Christopher Nolan's latest film, 'Odyssey,' premiered in the United States on July 17, and its Trojan Horse sequence has become a topic of discussion. CNN praised this scene for reinterpreting ancient Greek mythology from a fresh perspective, calling it a highlight of the film.On July 21, CNN reported, "While most works depict the Trojan Horse from the perspective of the Trojans, Nolan tells the story from the viewpoint of the Greek soldiers hidden inside the horse."The original ancient Greek epic 'Odyssey' does not detail the Trojan Horse scheme extensively. However, Nolan expanded this scene into a central sequence of the film. It begins with Trojan soldiers discovering a massive horse that appears abandoned on the beach, then shifts to the perspective of the Greek soldiers hidden inside, vividly portraying the situation.A Canadian associate professor of Greek and Roman studies remarked to CNN, "I can't recall a film that has depicted the harsh conditions the Greek soldiers endured inside the Trojan Horse so realistically. Previously, most narratives focused on the Trojans contemplating how to deal with the horse."This scene is also an idea that Nolan has been developing for nearly 20 years. He was originally set to direct the 2004 film 'Troy,' starring Brad Pitt, but left the project for various reasons. In multiple interviews, Nolan has expressed, "I have long pondered how to depict the Trojan Horse."The filming technique was also notably realistic. According to CNN, lead actor Matt Damon shared in an interview with gaming outlet 'GamesRadar+' that Nolan and the cinematographer filmed inside an actual horse set with about 20 actors using IMAX cameras.Damon recalled, "The claustrophobia I felt at the time was not pre-calculated; it naturally arose during the process of creating the scene together inside."CNN noted, "Nolan has flipped the long-standing imagery of the Trojan Horse, allowing the audience to experience fear and tension from inside the horse itself," describing this scene as one of the most intense and memorable sequences in the film.Meanwhile, Nolan's new film 'Odyssey' is set to be released in South Korea on August 5.* This article has been translated by AI. 2026-07-21 17:20:00 -
Iran Reaffirms Control Over Strait of Hormuz Amid Ongoing U.S. Hostilities As tensions escalate between the United States and Iran over control of the Strait of Hormuz, Iran has stated it will maintain a blockade of the strait as long as U.S. hostilities continue.On July 21, Al Jazeera reported, citing a military source from Iran's semi-official Fars news agency, that the Strait of Hormuz will remain closed as long as aggressive actions from the U.S. persist.The source indicated that Iran will not grant permission to any vessels attempting to pass through the strait. "The Strait of Hormuz is fully controlled by the Iranian military," the source emphasized, adding that decisions regarding reopening the strait or continuing navigation restrictions will be made solely based on security considerations and national interests. He further stated, "There will be no change in the current situation as long as U.S. threats and hostile actions continue."Meanwhile, diplomatic efforts to find a resolution are ongoing. Iranian Interior Minister Eskandar Momeni, who arrived in Pakistan the previous day, is set to meet with Prime Minister Shehbaz Sharif and Army Chief Asim Munir to discuss a U.S.-Iran tension reduction plan facilitated by Pakistan and Qatar. Momeni is also expected to convey a message from Iranian President Ebrahim Raisi.Additionally, Lebanese President Joseph Aoun is scheduled to meet with U.S. President Donald Trump in Washington to discuss the withdrawal of Israeli troops from southern Lebanon and support for the Lebanese military. The cessation of Israeli hostilities against Lebanon is included in a memorandum of understanding (MOU) between the U.S. and Iran, and Lebanon and Israel announced an agreement last month regarding the withdrawal of Israeli forces and the disarmament of Hezbollah. However, Israeli troops remain stationed in some areas, leaving tensions unresolved.* This article has been translated by AI. 2026-07-21 17:20:00
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South Korea Disbands Military Intelligence Agency, Establishes New Defense Units The South Korean government has approved a plan to disband the Military Intelligence Command and redistribute its core functions to the newly established Defense Intelligence Agency, the Defense Security Support Command, and the Defense Investigation Agency. This marks the end of the Military Intelligence Command, which was originally established in 1977 as the Military Security Command, after 49 years of operation.President Lee Jae-myung chaired the 31st National Security Council meeting at the Blue House on July 21, where 20 presidential decrees and one general agenda item were reviewed and approved.According to the approved decree to abolish the Military Intelligence Command, the agency's responsibilities for intelligence, investigation, and security will be transferred to the Defense Intelligence Agency, the Defense Investigation Agency, and the Defense Security Support Command, respectively. Legal grounds for the establishment and operation of these new organizations have also been prepared.The key focus of this reorganization is to dismantle the previously centralized Military Intelligence Command and restructure it into specialized agencies based on their functions.The Defense Intelligence Agency and the Defense Security Support Command are set to be established on July 31. The Defense Intelligence Agency will handle intelligence activities related to defense and defense industry, as well as cybersecurity, while the Defense Security Support Command will oversee security audits and investigations of security incidents at the corps level and above.The security investigation functions of the former Military Intelligence Command and its joint investigation authority during martial law will be transferred to the Defense Investigation Agency.Additionally, functions related to monitoring and personnel intelligence, which have been a source of controversy in the Military Intelligence Command's history, as well as tasks related to illegal and corrupt information gathering, will be abolished institutionally.During the meeting, a proposal to revoke 130 honors awarded to 119 individuals involved in martial law and espionage cases was also approved. This includes the cancellation of honors for Admiral Kim Jong-gon (Order of Military Merit, Eulji). President Lee stated that the government has effectively addressed long-standing distortions by revoking these awards.To promote youth farming and rural settlement, a revision to the Agricultural Land Act was also approved, allowing the establishment of cafes and bakeries on agricultural land. Under current law, such establishments cannot be operated on agricultural land. However, in the future, agricultural producers or agricultural corporations will be able to obtain permits to establish food service businesses using their own agricultural products.The scope of highway toll exemptions, previously limited to the disabled and national merit recipients, will be expanded to include multi-child families under a revision to the Toll Road Act. Families with two or more children under 19 will be eligible for toll discounts on weekends and holidays, with a 10% discount for two-child families and a 20% discount for families with three or more children.In line with the implementation of a revision to the Industrial Safety and Health Act, which requires businesses to publicly disclose their safety and health status annually starting August 1, detailed criteria for this disclosure were also approved. The disclosure requirement will apply to employers with 500 or more regular employees or those with annual construction project amounts exceeding 120 billion won.* This article has been translated by AI. 2026-07-21 17:16:00
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Lee Chan-hee of Samsung's Compliance Committee Calls for Humility Amid Controversies Lee Chan-hee, chairman of Samsung's Compliance Committee, emphasized the need for humility in the face of ongoing disputes over performance bonuses and labor relations following the conclusion of wage negotiations at Samsung Electronics. He stated that both policy and corporate operations should be oriented towards the public.During a regular meeting of the fourth-term Compliance Committee held on July 21 at Samsung Life's headquarters in Seocho, Seoul, Lee addressed key issues surrounding Samsung Electronics in a conversation with reporters.He likened the recent volatile business environment in the first half of the year, including the performance bonus controversy, to a "rollercoaster" and quoted a favorite Korean proverb, "Gogo Sachu Jiman Gyeil," which warns against complacency when at the top and the dangers of overflowing when full. This underscores the need for restraint and humility in corporate governance and policy implementation."It is indeed challenging to predict changes in labor relations and stock prices in the first half of the year," he said, stressing that both government policies and corporate operations must maintain a humble attitude towards the public.He also referenced Article 119 of the South Korean Constitution, stating, "The national economic order must proceed according to principles within the framework of the Constitution." This article respects the economic freedom and creativity of individuals and businesses while ensuring fair income distribution and harmony among economic entities. His remarks were interpreted as a call for balance and harmony between labor and management amid recent conflicts over compensation disparities between business units and the political debate over excess profit distribution following the establishment of special performance bonuses.However, Lee clarified that there are currently no specific agenda items under review by the Compliance Committee regarding the performance bonus issue. He maintained a cautious stance, indicating that they would consider any formal requests or board agenda items that arise in the future.Regarding the three mega projects planned in Jeonnam and Gwangju, he noted, "There has not yet been any concrete progress on investments in the Honam region, so it is not the time to discuss whether to review them." He added that if the projects are formally proposed, they will examine the circumstances under which investment plans were initiated and whether proper procedures were followed within the framework of compliance.Nevertheless, Lee made it clear that the Compliance Committee is not a management body and does not engage in specific management decisions.For the second half of the year, he stated that the Compliance Committee plans to focus on developing various opinions on significant social issues, such as labor relations, from a compliance monitoring perspective.* This article has been translated by AI. 2026-07-21 17:16:00
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70-Year-Old Man Indicted for Stabbing Incident at Ilmin Museum in Gwanghwamun A 70-year-old man has been indicted while in custody for injuring a friend with a weapon at the Ilmin Museum in Gwanghwamun, Seoul. According to legal sources on July 21, the Seoul Central District Prosecutors' Office's Criminal Division 4, led by Chief Prosecutor Lee Sang-hoon, charged the man, identified as A, with attempted murder among other charges. A is accused of attacking a 40-year-old man, referred to as B, with a sickle at the museum on June 26 at 7:47 a.m. It was confirmed that A entered the museum carrying a gasoline can, indicating he had planned to commit self-immolation after the attack. The police referred A to prosecutors on charges of attempted murder and preparation for arson. Following further investigation, prosecutors clarified that A had intended to kill and set fire to the building, countering his claim that he had no intention to ignite the structure. Additionally, it was revealed that A had threatened B two days before the attack and hinted at further violence during his escape, stating to a colleague, 'I won't let this go.' This led to the addition of charges for intimidation. The prosecutors, who indicted A, also stated that they have requested the appointment of a public defender for B and support for his medical expenses under the revised Specific Violent Crimes Act.* This article has been translated by AI. 2026-07-21 17:16:00
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Debate Erupts Over Abolishing Supplementary Investigation Rights in Criminal Procedure Law On July 21, the Democratic Party held a public hearing regarding the controversial reform bill aimed at abolishing supplementary investigation rights, where experts expressed conflicting views. Some argued that monopoly leads to corruption, while others contended that the Jang Yoon-ki case is an isolated incident.Han Byeong-do, the party's acting leader and floor leader, stated at the National Assembly's policy meeting for the public hearing, "We have created a forum to alleviate even 1% of the anxiety felt by the public during the process of institutional improvement," adding, "Judicial reform is a solemn mandate from the people to rectify the abuses of unchecked power and to create a society where all are equal."He emphasized, "The Democratic Party will focus its efforts on completing a criminal justice system that serves the people and achieving judicial reform."Kim Kyu-hyun, a lawyer and former prosecutor, pointed out, "If the police monopolize investigative rights and the prosecution monopolizes prosecutorial rights, corruption is inevitable." He advocated for the decentralization of investigation and prosecution, suggesting that investigations should be led by the police, with the prosecution correcting any issues through supplementary investigation rights. He also proposed that the prosecution should lead prosecutions while the courts should have supplementary prosecutorial rights.Conversely, lawyer Kang Dong-pil, a former police officer, remarked, "While the Jang Yoon-ki case is regrettable, it is not reasonable to make policy decisions based on emotional responses to specific incidents." He asserted, "Even without supplementary investigations by prosecutors, the practical aspects of investigations are already handled by the police. Through prompt pre-cooperation with the prosecution and external oversight, there should be no blind spots in protecting vulnerable members of society."Additionally, the discussion featured contributions from Kim and Kang, as well as Park Chan-woon, a professor at Hanyang University Law School, Yoo Seung-ik from Myongji University, Hwang Mun-kyu from Joongbu University, and Kim Hye-jung, head of the Korean Sexual Violence Counseling Center. 2026-07-21 17:16:00
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First Exception Approved for Dual Listings of Deoksan Nepcoas and DTS Financial authorities have approved the first exception since the implementation of the dual listing guidelines. Attention is now focused on which companies will be next to undergo dual listing reviews.According to the financial investment industry on July 21, the Korea Exchange approved the preliminary listing review for Deoksan High Metal's subsidiary Deoksan Nepcoas and Dasan Networks' subsidiary DTS on July 20. These two companies are the first to be recognized for meeting the general shareholder protection procedures and operational independence criteria outlined in the dual listing guidelines announced by the Financial Services Commission on July 6.Both companies met the guideline's shareholder consent requirement of the '3% rule.' This rule allows the maximum shareholder and related parties' voting rights to be recognized only up to 3%, and requires a majority approval from voting shareholders along with at least one-fourth of the total voting rights in favor. Deoksan High Metal secured a 72.8% approval rate based on the total number of voting shares at its extraordinary general meeting on May 29. Among the shares that voted, 92.7% were in favor. Dasan Networks also passed the DTS listing proposal with a special resolution at its extraordinary general meeting on June 19, achieving a 46.5% approval rate based on the total number of voting shares and 90.3% among the shares that voted.Not only did they obtain shareholder consent, but they also made efforts to demonstrate shareholder rights protection and independence as required by the guidelines. Before pursuing the listing, Deoksan High Metal conducted a shareholder impact assessment at the parent company's board meeting and reviewed the operational independence of the subsidiary and potential infringement on general shareholder rights. Additionally, they proposed a shareholder return policy that includes a 5% distribution of 150,000 shares as a stock dividend to parent company shareholders and a commitment to maintain a consolidated dividend payout ratio of over 10% for the next five years.While the first companies have passed the strengthened dual listing review, it is expected that further large IPOs will not emerge in the near future. The new review criteria, which emphasize shareholder consent and proof of independence, have led large corporate affiliates to reconsider their listing schedules or approach the timing of their listings with caution.Initially, companies like CJ Olive Young and SK Enmove were considered potential exceptions for dual listings, but they have since withdrawn their preliminary review applications. If these companies decide to pursue listing again, they will need to restart the due diligence process from the beginning and may have to select new underwriters based on their listing strategies, making it unlikely for reviews to resume in the short term.Currently, Sono International, a major IPO candidate that has applied for preliminary review, is unlikely to be included in the dual listing review. The financial authorities have stated that when a subsidiary is already listed before the parent company, the risk of diminishing the subsidiary's corporate value is relatively low, and thus the dual listing review criteria will not apply. Sono International has publicly traded subsidiaries, Trinity Airlines (41.95% stake) and T'way Holdings (46.26%), but operates under a structure where the unlisted parent company is seeking to go public.Market speculation suggests that there may be subsequent cases among companies pursuing KOSDAQ listings. One notable candidate is Mobius, which is seeking a technology-based special listing. SJG Sejong, a KOSPI-listed company, holds a 25.59% stake as the largest shareholder, raising the possibility of applying the new dual listing guidelines.Mobius is viewed as having both positive factors and variables in terms of the review criteria. In terms of operational independence, Mobius focuses on autonomous mobile robots (AMR) and logistics automation solutions, which differ significantly from SJG Sejong's core business of automotive exhaust parts, indicating minimal business overlap. This is considered a favorable factor under the operational and management independence review criteria set by financial authorities.However, management independence and the necessity of listing may become key issues during the review process. The guidelines require a comprehensive assessment of not only shareholding ratios but also the actual control relationships and economic identity. Ongoing financial ties, such as loans or guarantees from the parent company, could impact the independence assessment. Additionally, how convincingly Mobius presents its need for independent R&D investment and funding for business expansion, as well as its plans for protecting general shareholders, will be crucial evaluation factors.Mobius maintains that the largest shareholder's stake is not absolute and that it operates an independent management system, distinguishing it from typical dual listing cases. However, given that financial authorities have emphasized the importance of actual control relationships and shareholder rights protection over formal shareholding ratios in this guideline, the industry believes Mobius could become one of the representative cases where the new criteria are applied, following Deoksan Nepcoas and DTS.* This article has been translated by AI. 2026-07-21 16:52:00
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Korea's Food and Drug Administration to Harmonize GMP Standards for Health Supplements The Korea Food and Drug Administration (KFDA) is set to improve the Good Manufacturing Practice (GMP) standards for health supplements to align with international guidelines and enhance consumer information for personalized health products. The agency plans to refine the quality management system and make it easier for consumers to access product information.On July 21, the KFDA announced a legislative notice for a partial amendment to the Enforcement Rules of the Health Functional Food Act, inviting public comments until August 31.The amendment includes new management standards for reprocessing, compressed air, and lubricants in the manufacturing and quality control of health supplements. It mandates the retention of relevant records during reprocessing and requires regular management of compressed air and lubricants to mitigate cross-contamination risks, thereby strengthening the quality management system.For personalized health supplements, the amendment introduces dedicated designs to help consumers easily distinguish these products. It also requires labeling on product containers and packaging stating, 'This is not a medicine.' Additionally, expiration dates must be indicated on inner packaging, and sellers are obligated to provide warnings about concurrent use with medications either at the point of sale or through electronic means.To enhance the reliability and transparency of quality inspection results, the use of a record management system will be mandatory. All quality inspection results, including self-quality tests, must be managed through this system. If establishing an internal system is challenging, companies can utilize the KFDA's Laboratory Information Management System (LIMS).The KFDA aims to elevate the manufacturing and quality standards of health supplements through these regulatory improvements, creating an environment where consumers can confidently choose products.* This article has been translated by AI. 2026-07-21 16:52:00
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Seoul steps in as ETF crash takes toll on retirees and minors SEOUL, July 21 (AJP) - A crash inevitably leaves collateral damage, and the nearly 50 percent plunge in leveraged exchange-traded funds (ETFs) linked to chip behemoths Samsung Electronics and SK hynix has hit some of South Korea's most vulnerable investors, wiping out retirement savings and money invested on behalf of minors. "Were we guinea pigs?" one investor wrote after watching losses mount in the newly launched single-stock leveraged ETFs. "Will anybody help?" another asked. The outpouring of anger quickly shifted toward the government, which approved the products near the peak of the semiconductor rally. Surely, investors knew the risks. But many ants, as retail investors are known in South Korea, took the government's approval as an endorsement, believing products cleared by regulators could not be excessively dangerous. Their jitters intensified after Bae Jae-kyu, chief executive of Korea Investment Management and widely regarded as the pioneer of Korea's ETF industry, publicly urged investors to stop buying single-stock leveraged and inverse ETFs. Although his company manages the products, Bae warned that sharp daily price swings can destroy returns through daily compounding. Unlike conventional ETFs, leveraged and inverse funds are designed to deliver twice a stock's daily return rather than twice its cumulative performance over time. When prices repeatedly rise and fall, gains and losses are calculated on a constantly changing investment base, causing value to erode regardless of the longer-term direction of the underlying shares. As a result, both leveraged and inverse ETFs can lose money even when the underlying stock ends little changed. Bae illustrated the effect using SK hynix-related ETFs. Between May 27 and July 16, SK hynix shares fell 17.9 percent. A 2x leveraged ETF theoretically should have declined about 35.8 percent, but instead plunged 47.5 percent, extending losses by another 11.7 percentage points because of volatility drag. A 2x inverse ETF should theoretically have gained 35.8 percent over the same period. Instead, it lost 31.1 percent as repeated daily swings steadily eroded returns. His warning came only after retail investors had already poured unprecedented sums into the products. Demand exploded after Korea introduced its first single-stock leveraged ETFs in late May, attracting investors across virtually every age group—including retirees and minors. According to data submitted by the Korea Institute of Financial Investment (KIFIN) to Rep. Kang Myung-gu of the opposition People Power Party, 1.16 million investors completed the mandatory basic leveraged ETF course during the first half, nearly 19 times more than a year earlier and already six times last year's total. Seoul has made a three-hour mock-trading session in addition to online basic course mandatory for trading high-risk products like leveraged ETFs. Despite the hassle, nearly 690,000 investors also completed the additional education required to trade single-stock leveraged ETFs between April and June. Investors in their 40s accounted for the largest group with 210,745 participants, followed by those in their 50s with 189,308 and those in their 30s with 176,488. More than 70,000 investors aged 60 or older also completed the training, along with 5,596 minors who obtained parental consent. The enthusiasm translated into massive inflows. Between May 27 and July 16, investors poured a net 13.4 trillion won ($9.6 billion) into 16 leveraged and inverse ETFs linked to Samsung Electronics and SK hynix. SK hynix leveraged products alone attracted 8.5 trillion won, while Samsung Electronics leveraged ETFs drew another 4.7 trillion won. Inverse products received only 146.6 billion won. The reversal in chip fortunes proved devastating. The KODEX SK hynix Leveraged ETF, the most heavily purchased product, lost 47.5 percent from launch through July 16, while its Samsung Electronics counterpart dropped 41.7 percent. Products designed to profit from falling prices fared little better. The SOL SK hynix Futures Single Stock Inverse 2X ETF lost 31.1 percent over the same period, while the PLUS Samsung Electronics Futures Single Stock Inverse 2X ETF fell 8.9 percent. Wild swings across the broader market compounded the damage. According to the Korea Exchange, the KOSPI's average intraday fluctuation reached 6.75 percent between July 1 and July 16, the highest since comparable records began in 1987, surpassing the peaks recorded during both the 2008 global financial crisis and the 1997 Asian financial crisis. Three of the 10 highest monthly average intraday fluctuations over the past two decades have occurred this year. The VKOSPI volatility index, often referred to as Korea's "fear gauge," climbed to 96.94 on June 29, its highest level since the index was introduced in 2009. Analysts said fragile investor sentiment, widespread use of leveraged products and weak institutional buying had amplified volatility, allowing even modest negative news to trigger indiscriminate selling. The growing investor angst has reached the highest government level. President Lee Jae Myung on Tuesday ordered financial authorities to draw up "swift and thorough" stabilization measures for controversial single-stock leveraged ETFs, saying the government must not neglect retail losses. Speaking at a Cabinet meeting, Lee said the products had helped keep domestic capital from flowing overseas but had also amplified market volatility. "They nonetheless have become a source of grievance for investors, haven't they?" he said, instructing regulators to review additional investor protection measures while reassessing the role of high-risk investment products. Opposition lawmakers have been ratcheting up attacks on the government for encouraging excessive speculation by approving the products, arguing that older and underage investors could not have fully understood the risks they were taking. 2026-07-21 16:50:39 -
Kim Gun Proposes Legislation to Support Overseas Expansion of Korean Companies Kim Gun, a lawmaker from the People Power Party, proposed the "K-Enterprise Support Act" on July 21, aimed at systematically supporting the activities of Korean companies operating abroad through embassies and consulates.As Korean companies increasingly engage in overseas direct investment and participate in large-scale infrastructure and resource development projects, the need for institutional support to protect and promote their economic activities abroad has been consistently highlighted.In particular, the impact of "economic external variables," such as changes in host country laws and regulations due to global supply chain restructuring and prioritization of domestic interests, is growing. However, there is currently a lack of legal grounds for embassies and consulates, which serve as official communication channels with local governments, to actively support businesses.The proposed legislation aims to establish legal grounds for embassies and consulates to carry out support activities for overseas companies. Key provisions of the bill include collecting and providing information on economic and industrial trends and legal changes in host countries, as well as assisting in resolving challenges faced by local businesses.Kim, a former diplomat, stated, "We must actively utilize the embassy network to ensure that companies operating abroad do not suffer disadvantages from sudden regulatory changes or restrictions imposed by local governments. Through this legislation, I aim to position our embassies worldwide as practical support hubs for our companies' international activities."* This article has been translated by AI. 2026-07-21 16:48:00