New Listing Temporarily Halted, Deposit Requirement Raised to 30 Million Won
Recently announced measures to address the volatility attributed to single stock leverage include an immediate halt to the listing of new products, including inverse and covered call options. The financial authorities have decided to raise the basic deposit requirement from 10 million won to 30 million won, mandating that the entire amount be paid in cash starting around August 5. Additionally, they will implement stricter entry barriers for single stock leverage investments by enhancing investor education and increasing the trading unit size.
On July 16, the financial authorities announced these measures following a market situation review meeting chaired by the Deputy Prime Minister at the National Bank Association headquarters.
Hanwha Aerospace Selected for Military Multipurpose Drone Project
Hanwha Aerospace has been selected as the preferred bidder for the military multipurpose vehicle project.
On July 16, the Defense Acquisition Program Administration held a meeting of the Defense Acquisition Planning and Management Committee, where it finalized the selection of Hanwha Aerospace's Arion Smet as the model for the multipurpose unmanned vehicle project.
The multipurpose unmanned vehicle is designed to perform various missions, including surveillance, reconnaissance, and logistics support for infantry units. It is considered a key asset in the Army's future combat system, known as Army TIGER 4.0.
TSMC Raises Q3 and Annual Guidance Amid Strong AI Demand
TSMC, the world's largest semiconductor foundry, has raised its guidance for the third quarter and the full year following strong second-quarter results.
On July 16, Chinese media, including Tonghua Shun, reported that TSMC projected its third-quarter revenue guidance to be between $44.6 billion and $45.8 billion, exceeding market expectations of $43.11 billion. The gross profit margin guidance for the third quarter is estimated at 65% to 67%, aligning with the midpoint of market expectations, while the operating profit margin guidance is set at 56% to 58%, above the anticipated 57.7%.
Shinan Uwi Offshore Wind Project Begins Construction with 3.4 Trillion Won Investment
The Shinan Uwi offshore wind project, a large-scale initiative funded entirely by domestic capital, is set to commence.
On July 16, the Ministry of Climate, Energy, and Environment held a groundbreaking ceremony for the Shinan Uwi offshore wind project at the Shinan National Sports Center in Jeonnam Province. This project aims to establish a 390 MW offshore wind power generation complex southeast of Uido in Shinan County. The total project cost is approximately 3.4 trillion won, with commercial operations targeted to begin in January 2029.
This initiative marks the first large-scale offshore wind project in South Korea funded entirely by domestic capital. It will also be the first project in the country to install 15 MW turbines, consisting of 26 turbines expected to generate about 1,062 GWh of electricity annually, enough to power approximately 300,000 households.
Supreme Court Confirms Two-Year Sentence for Kwon Seong-dong, Resulting in Loss of Parliamentary Seat
The Supreme Court has upheld a two-year prison sentence for Kwon Seong-dong, a member of the People Power Party, for receiving illegal political funds from the Unification Church. As a result, Kwon has immediately lost his parliamentary seat under the National Assembly Act and the Public Election Act.
On July 16, the Supreme Court's second division, led by Justice Eom Sang-pil, confirmed the original ruling of two years in prison and a fine of 100 million won for Kwon, who was indicted for violating the Political Fund Act. This final ruling comes nine months after the special prosecutor's team filed charges against him, leading to his immediate disqualification from office.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.