U.S. Treasury Secretary Scott Besant announced plans to unveil a new economic sanctions strategy aimed at destabilizing the Iranian regime during a press conference on August 24. Attention is focused on whether China, the largest buyer of Iranian oil, will participate in these sanctions.In a CNBC interview on August 20, Besant described the upcoming sanctions as the most severe in history, likening them to a "one-two punch" following the ongoing maritime blockade. He urged allies to choose betwe

Rare works by masters of modern and contemporary Korean art will be featured in upcoming auctions this month. Notable pieces include Park Soo-keun's work, which is being auctioned for the first time in 40 years, Kim Chang-yeol's 'Water Drop,' which is making its domestic debut after being exhibited at the FIAC art fair in Paris 45 years ago, and a large-scale work by Kim Whanki from his New York period.Seoul Auction and K Auction will hold their respective art auctions on August 25 and 26 in Gan

The delinquency rate for domestic banks' won-denominated loans reached its highest level in a decade as of June. Although the rate decreased from the previous month due to a large-scale cleanup of delinquent loans at the end of the quarter, the corporate loan delinquency rate has risen compared to a year ago. As the government promotes productive finance to expand funding for businesses and advanced industries, the importance of managing the soundness of corporate loans is increasing.According t

“We considered how liquid e-cigarettes can be responsibly provided to adult smokers,” said Kim Joo-han, Vice President of External Affairs and Public Relations at Philip Morris Korea, during a meeting at the IQOS store in Garosu-gil, Gangnam, on August 19.This consideration is reflected in the product structure of VEEV, which Philip Morris is introducing to the domestic market for the first time. VEEV utilizes a closed pod system that does not allow users to inject or mix liquids themselves, alo

On its first day of trading on the KOSDAQ, Kido Industry's stock price showed weakness, falling below its initial public offering (IPO) price.According to the Korea Exchange, as of 9:30 a.m. on August 21, Kido Industry's shares were trading at 26,600 won, down 1,800 won (6.34%) from the IPO price of 28,400 won. The stock initially rose to 29,500 won but later reversed course and fell. At one point, the price dropped to 24,650 won, dipping below the IPO price.Kido Industry is an original equipmen

T'way Air announced on August 21 that its long-haul route from Incheon to Rome has reached its second anniversary.Since its inaugural flight on August 8, 2024, the Incheon-Rome route has operated over 530 round trips, transporting approximately 245,000 passengers in the past two years.Entering its second year, the route has maintained steady passenger numbers not only during the summer peak season but also in the spring and fall off-peak seasons, establishing a stable year-round demand.Passenger

The government is set to establish a retirement benefit and welfare protection system for non-standard workers, including special employment workers, platform workers, and freelancers. This initiative aims to address gaps in the existing social safety net, which is primarily designed around traditional employment contracts.On August 21, the Ministry of Employment and Labor held the first meeting of a preparatory task force for the so-called 'K-Labor Welfare Council' at the Seoul Business Hub.The

The government will impose anti-dumping duties of up to 8.41% on seamless copper tubes imported from Thailand. This measure aims to protect the domestic copper tube industry, which has suffered from low-priced dumping imports, and to create fair competition conditions.The Ministry of Economy and Finance announced on August 21 that it will levy anti-dumping duties ranging from 4.93% to 8.41% on seamless copper tubes imported from Thailand, effective from September 11, 2026, until September 10, 20

South Korea's exports surged more than 50% year-on-year by mid-August, reaching the highest level for the month on record. This increase was largely driven by a record rise in semiconductor exports, along with gains in petroleum products and computer peripherals.The Korea Customs Service reported on August 21 that the export value for the period from August 1 to 20 was $55.27 billion, a 56.0% increase compared to the same period last year. This figure marks the highest ever recorded for this tim