Gmarket Donates 300 Million Won for Flood Recovery in Gyeongnam
Gmarket announced on August 20 that it will donate 300 million won to support flood recovery and aid for victims in the Gyeongnam region affected by recent heavy rainfall.The donation will be delivered to the Hope Bridge National Disaster Relief Association and will be used for facility restoration and the daily recovery of victims in areas such as Tongyeong and Geoje.Gmarket will also work to expand sales channels for affected farmers. Starting August 31, the company will offer discounted sales
Sampyo Cement to Plant 20,000 Native Trees at Samcheok Quarry Site
Sampyo Resources Development, a subsidiary of Sampyo Cement, announced on August 20 that it is undertaking terrain and vegetation restoration activities at its limestone quarry in Samcheok, Gangwon Province.This initiative is not only aimed at stabilizing the terrain of the mined area but also focuses on restoring vegetation using native plants to create a habitat for wildlife as part of an ecological restoration project.The company plans to continue quarry development while sequentially restori
Trade Commission Proposes Up to 38.89% Preliminary Anti-Dumping Duties on Sodium Hydroxide from China and Taiwan
The trade authorities have proposed imposing preliminary anti-dumping duties of up to 38.89% on sodium hydroxide imports from China and Taiwan, citing damage to the domestic industry from low-priced imports.On August 20, the Ministry of Trade, Industry and Energy's Trade Commission held its 476th meeting and announced its preliminary findings in the anti-dumping investigation into sodium hydroxide from China and Taiwan.Sodium hydroxide, a white solid, is used in the production of soaps and deter
Seongnam Urban Development Corporation Welcomes New President Lee Jae-yul
The Seongnam Urban Development Corporation is drawing attention as it embarks on a new management direction under its newly appointed president, Lee Jae-yul.On August 20, the corporation announced that Lee Jae-yul has officially taken office as its seventh president, with a term set to last until August 2029.Lee, a graduate of Yonsei University’s law program, has held significant positions in the Gyeonggi provincial government and the Ministry of the Interior and Safety.His experience includes r
Defense Minister An Gyu-baek: North Korea's Nuclear Arsenal Estimated at 80 to 120 Weapons
Defense Minister An Gyu-baek stated on August 20 that North Korea's nuclear arsenal is typically estimated to be between 80 and 120 weapons, but providing an exact figure is quite limited.During a session of the National Assembly's Defense Committee, An responded to a question from Representative Seong Il-jong of the ruling People Power Party regarding the government's assessment of North Korea's nuclear development.In response to President Donald Trump's mention of North Korea possessing '57' n
KOSPI Surges Over 6% Amid Foreign and Institutional Buying, Reclaims 6800 Level
The KOSPI index is experiencing a surge of over 6% due to bargain hunting following a more than 5% drop the previous day and a stabilization in U.S. long-term interest rates. The semiconductor sector is seeing strong performance, particularly after SK Hynix announced a 40 trillion won stock buyback and cancellation, which has attracted both foreign and institutional investors, boosting the index further.As of 12:54 p.m. on August 20, the KOSPI is trading at 6,875.00, up 403.83 points (6.24%) fro
KOSPI Rises Over 2% as Bargain Hunters Enter Market; SK Hynix Shares Surge
The KOSPI opened with a gain of over 3% on the back of bargain hunting following a more than 5% drop the previous day and a stabilization in U.S. long-term interest rates. Notably, SK Hynix announced a plan to buy back and retire shares worth 40 trillion won, boosting investor sentiment in the semiconductor sector.As of 9:09 a.m. on the 20th, the KOSPI was trading at 6,624.12, up 152.95 points (2.36%) from the previous trading day. The index started at 6,680.34, up 209.17 points (3.23%), before
Government and Ruling Party Discuss Creation of Future Response Fund
On August 20, the government and the ruling party discussed plans to establish a 'Future Response Fund' utilizing additional tax revenue from the semiconductor boom, but did not finalize the specific size of the fund. While there are predictions that the fund could exceed 100 trillion won, no concrete figures were mentioned.The Democratic Party of Korea and the government held a meeting at the National Assembly to discuss the operation of the Future Response Fund and the direction of education g
Seoul Mayor Oh Se-hoon Opposes Housing Supply in Yongsan Park
Seoul Mayor Oh Se-hoon has made it clear that he will not agree to any plans to supply housing in Yongsan Park, stating, "I cannot agree under any circumstances." However, he expressed willingness to support housing supply in nearby areas with improved transportation and urban infrastructure.After a one-hour meeting with Minister of Land, Infrastructure and Transport Kim Yun-deok on August 20, Mayor Oh told reporters, "In conclusion, we are at an impasse regarding Yongsan Park. The city will not
Yoon Duk-kun and Oh Se-hoon Discuss Housing Supply at Yongsan Park, Plan to Meet Again Next Week
Yoon Duk-kun, the Minister of Land, Infrastructure and Transport, and Oh Se-hoon, the Mayor of Seoul, discussed expanding housing supply in Seoul by utilizing parts of Yongsan Park, but they only reaffirmed their significant differences in stance. The two sides also discussed the use of damaged greenbelt areas and easing regulations for private redevelopment, but they could not reach a conclusion and agreed to meet again next week. After about an hour of discussions at the Dalgaebi Conference Ho