news highlight

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  NPS chief denies "bombshell" selling at KOSPI for rebalancing SEOUL, July 01 (AJP) - The head of South Korea’s National Pension Service pushed back Wednesday against speculation that the fund could trigger a massive selloff in domestic shares, saying fears of a so-called 74 trillion won “selling bomb” were exaggerated. Kim Sung-joo, chairman of the National Pension Service, said in a Facebook post that the 74 trillion won figure was “wrong” and “absurd.” “Even if the National Pension Service July 1, 2026
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  Military academy alumni groups to stage first joint protest against merger plan SEOUL, July 01 (AJP) - Alumni associations representing South Korea’s Army, Navy and Air Force academies will stage their first joint action next week against the government’s plan to integrate the three military schools. The associations are scheduled to hold a rally outside the National Assembly on July 8, according to parliamentary and alumni group officials Wednesday. The event is expected to be jointly hosted by the three alumni associations, security groups and July 1, 2026
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  What better way to beat Seoul summer than with samba heat? SEOUL, July 01 (AJP) - The vibrant sounds of Brazil echoed through central Seoul on Wednesday as Lotte World Adventure brought a burst of carnival spirit to Myeong-dong, staging a colorful street performance to mark the start of its annual summer festival. Brazilian dancers in dazzling feathered costumes paraded along Myeong-dong's UNESCO Street, captivating shoppers and tourists with energetic performances that briefly transformed one of Seoul's busiest c July 1, 2026
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  South Korea hikes postal rates amid mounting deficit SEOUL, July 1 (AJP) - Postal prices have been hiked for the first time in nearly five years, with basic rates rising from 430 won (about US$0.29) to 500 won, Korea Post said on Wednesday. Under the hikes taking immediate effect from the first day of July, standard mail now costs 500 won for letters between 5 grams and 25 grams and 520 won for those over 25 grams and up to 50 grams. The adjustment comes amid declining mail volumes in an increasingly digital era. The state-run p July 1, 2026
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  'Teach You a Lesson' Holds No. 1 on Netflix's Non-English Chart for 4th week SEOUL, July 01 (AJP) - "Teach You a Lesson" remained the No. 1 non-English TV show on Netflix's global charts this week, marking its fourth consecutive week atop the ranking as Korean titles continued to dominate the platform's non-English lists. The series, which follows a fictional agency that intervenes in schools to protect teachers' rights and restore order, made the Top 10 in 75 countries, including markets in Asia and Europe. Several other Korean ti July 1, 2026
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  NiziU releases first Japanese greatest hits album 'Portfolio' SEOUL, July 01 (AJP) - NiziU released its first Japanese greatest hits album, "Portfolio," at midnight Wednesday, the group's agency JYP Entertainment said Wednesday. The release came with a 2026 version of the music video for "Make You Happy," the group's pre-debut single. NiziU is a nine-member Japanese girl group formed through a joint project between JYP Entertainment and Sony Music. The 29-track compilation traces the group's activities s July 1, 2026
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  Hyundai Motor pledges $1 million in aid for Venezuela earthquake victims SEOUL, July 01 (AJP) - Hyundai Motor Group will donate US$1 million in relief aid to Venezuela, where powerful earthquakes and aftershocks have caused heavy damage, the automaker said on Wednesday. The donation will be delivered through humanitarian organization Korean Red Cross and used for disaster relief, recovery efforts and other emergency assistance. "We extend our condolences to Venezuelans affected by the sudden quakes and hope the support will help speed recovery,&q July 1, 2026
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  South Korea denies reports of order to scrap chipmakers' bonus schemes SEOUL, July 01 (AJP) - South Korea's labor and industry ministries on Wednesday denied online reports claiming the government had instructed Samsung Electronics and SK hynix to scrap existing employee bonus agreements as part of a proposed semiconductor profit-sharing scheme. The Ministry of Employment and Labor described the reports as "completely groundless" and said it had never sent an official document to either company regarding changes to their performance-bas July 1, 2026
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  Korea's startup contest turns dream into data leak nightmare SEOUL, July 01 (AJP) - Government startup competitions usually demand polished business plans, lengthy resumes and years of preparation. This one asked for none of that. Ideas were enough. Anyone with an entrepreneurial dream was welcome. That openness was exactly what caught the attention of 23-year-old Choi Yeon-ju when she spotted a recruitment notice on Everytime, the campus community app popular among South Korean university students. She signed up hoping to turn her idea July 1, 2026