Former Military Officials Attend Arrest Warrant Hearing Amid Cover-Up Allegations
Hwang Yu-seong, former commander of the Defense Security Command, and Moon Yeon-cheol, former head of the Marine Corps' intelligence unit, are facing allegations of involvement in a cover-up related to the death of Marine Chae Sang-byeong. Both officials are attending a warrant review hearing.Judge Lee Jong-rok of the Seoul Central District Court is conducting the hearing for Colonel Moon at 10:10 a.m. on August 12. Hwang's hearing is scheduled to begin at 2:10 p.m. The court is expected to deci
Rising Office Vacancies in Seoul Amid Soaring Rental Prices
As new office supply significantly increases, the average vacancy rate in Seoul has risen, yet rental prices and investment demand remain strong, highlighting a growing polarization in the office market.According to AlSquare, a commercial real estate service company, the average office vacancy rate in Seoul reached 6.5% in the second quarter of 2026, up 0.4 percentage points from the previous quarter. The increase was driven by the addition of 11 new office buildings, totaling approximately 99,0
Celltrion Expands Bidding Success in Spain and Portugal, Accelerates European Market Strategy
Celltrion is accelerating its market strategy in Europe by securing major bids in key countries.On August 12, Celltrion announced that it is strengthening its market influence in Spain and Portugal through successful bids and expanded prescriptions for its biosimilar products.In Spain, the chronic idiopathic urticaria and allergic asthma treatment 'Omliklo' (ingredient: omalizumab) has been selected as a supplier in bids from four major regional governments: Catalonia, the Basque Country, Asturi
Pacific Law Firm Launches AI Infrastructure Strategy Center
Law firm Pacific has announced the launch of its 'AI Infrastructure Strategy Center' to enhance its integrated advisory capabilities for artificial intelligence (AI) data centers and digital infrastructure projects.The competition in AI is expanding beyond models and semiconductors to include securing data centers and power infrastructure. AI data centers, in particular, are complex projects that involve various legal issues from development to operation, requiring significant investment and pow
Pearl Abyss Shares Plunge 14% Despite Strong Q2 Earnings
Pearl Abyss shares fell sharply on August 12, dropping 14% in early trading despite reporting strong earnings for the second quarter. The company had seen a rise in stock prices earlier this month due to anticipation surrounding its new game, 'Crimson Desert,' but the actual results fell short of market expectations, leading to profit-taking by investors.As of 9:40 a.m. KST, Pearl Abyss shares were trading at 31,700 won, down 5,200 won (14.09%) from the previous trading day, according to the Kor
Mirae Asset Securities Reports Record Q2 Profit of 1.9 Trillion Won
Mirae Asset Securities achieved a record net profit of over 1.9 trillion won in the second quarter of this year, marking the highest quarterly performance in its history. The growth was driven by strong performance across its key sectors, including global business, brokerage, and wealth management (WM). The company also became the first in the securities industry to surpass 1 trillion won in net profit for two consecutive quarters.On August 12, Mirae Asset Securities announced that its consolida
Seoul World Fireworks Festival Ranked Top Korean Festival in New Study
A new index evaluating the appeal of 1,452 domestic festivals using social big data has been released for the first time. The top spot went to the 'Seoul World Fireworks Festival,' which demonstrated overwhelming popularity despite being a one-day event.On August 11, Yanolja Research, a travel and tourism industry research organization, held a seminar in collaboration with Purdue University's CHRIBA Institute and Kyung Hee University's H&T Analytics Center to announce the 'Korean Festival Appeal
Half of Cars Produced in China Now Exported
About half of the cars produced in China are now being exported.According to the China Passenger Car Association (CPCA), China's car exports surged by 87.8% year-on-year in July, reaching 918,000 units, as reported by the China Business Network on August 12. Approximately 41% of cars produced in China were exported, up from 21% during the same period last year. Exports of new energy vehicles (NEVs) in July totaled 540,000 units, marking a 147.8% increase compared to the previous year. Cumulative
Exchange Rate Remains in the 1410s Amid Rising International Oil Prices
The won-dollar exchange rate is hovering in the low 1410s.As of 9:30 a.m. on August 12, the exchange rate in the Seoul foreign exchange market is 1,414.6 won per U.S. dollar. Earlier in the morning, it traded at 1,413.7 won, down 2.3 won from the previous session.The rise in international oil prices appears to have weakened the appetite for riskier assets. October futures for Brent crude oil rose by 1.36% to $88.91 per barrel, while September futures for West Texas Intermediate (WTI) increased b
Manus Officially Parts Ways with Meta Amid Regulatory Pressures from China
Chinese artificial intelligence (AI) startup Manus has officially severed ties with U.S. tech giant Meta amid increasing regulatory pressure from the Chinese government. This decision comes more than three months after China halted Meta's acquisition of Manus, citing national security concerns.In a public letter sent to users on August 11, Manus announced it would "officially resume operations as an independent company," adding that some user account data would be temporarily adjusted or deleted