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Ministry of Interior Holds Briefing Ahead of Major Crime Investigation Agency Launch Ministry of Interior Holds Briefing Ahead of Major Crime Investigation Agency Launch

The South Korean government has approved a revision to the Criminal Procedure Act that will completely abolish the direct and supplementary investigation rights of prosecutors. This change, which was passed by the National Assembly and approved by the Cabinet on August 4, will centralize investigative authority with the police, allowing prosecutors to focus solely on prosecution. The revised law will take effect on October 2.As the Major Crime Investigation Agency (MCIA) prepares for its officia

Naver Webtoon Launches First Subscription Animation Service on LINE Manga Naver Webtoon Launches First Subscription Animation Service on LINE Manga

Naver Webtoon is expanding its content ecosystem by introducing its first subscription-based animation service on the Japanese platform LINE Manga. The strategy aims to increase user engagement and enhance content competitiveness by allowing users to consume both webtoons and animations on a single platform.On August 5, Naver Webtoon announced its collaboration with Japanese telecommunications company NTT Docomo to launch the subscription-based animation streaming service 'd Anime Store for LINE

Rising Delinquency Rates Prompt Stricter Lending Standards at Major and Regional Banks Rising Delinquency Rates Prompt Stricter Lending Standards at Major and Regional Banks

Delinquency rates in the banking sector are rising rapidly. The prolonged high interest rates and sluggish regional economies have led to an increase in borrowers unable to meet their interest obligations. As the burden of maintaining financial soundness grows, banks are expected to tighten lending standards further in the second half of the year.According to the financial sector on August 5, the average delinquency rate for five regional banks—BNK Busan, BNK Gyeongnam, iM Bank, Jeonbuk Bank, an

Hyundai Steel Reaches Tentative Labor Agreement, Averting Strike Risk Hyundai Steel Reaches Tentative Labor Agreement, Averting Strike Risk

Hyundai Steel has finalized its wage and collective bargaining agreement for the year. It is the first case among major affiliates of Hyundai Motor Group to have a tentative agreement approved by union members this year.According to industry sources, the Hyundai Steel labor union conducted a vote on the tentative agreement from 6 a.m. on August 3 until 3 p.m. on August 5. The counting took place at the Hyundai Steel branch in Chungnam.A total of 7,179 members participated in the vote. The result

Innocean Reports 23% Surge in Q2 Operating Profit Driven by World Cup and Genesis Le Mans Innocean Reports 23% Surge in Q2 Operating Profit Driven by World Cup and Genesis Le Mans

Innocean announced that its operating profit for the second quarter reached 44.6 billion won, a 22.4% increase compared to the same period last year.Revenue for the second quarter was 499 billion won, down 3.9% year-on-year, while net profit for the same period rose 53.1% to 36.5 billion won.An Innocean official commented on the results, stating, "The double-digit increase in operating profit for the second quarter, following the first quarter, is significant as it indicates that the strong perf

Mixed Results for Internet Banks in First Half of 2026: KakaoBank Thrives, K-Bank Struggles Mixed Results for Internet Banks in First Half of 2026: KakaoBank Thrives, K-Bank Struggles

Results for internet banks in the second quarter of 2026 varied significantly. KakaoBank achieved its highest-ever half-year net profit, while K-Bank faced a substantial decline due to falling non-interest income.KakaoBank announced on August 5 that its net profit for the second quarter reached 140.8 billion won, an 11.5% increase compared to the same period last year. The bank's half-year net profit totaled 328 billion won, marking a record high.Other banks, including iM Bank, which transitione

Trump: Agreement with Iran on Hormuz Strait Possible Within 48 Hours Trump: Agreement with Iran on Hormuz Strait Possible Within 48 Hours

President Donald Trump stated that negotiations with Iran regarding the reopening of the Hormuz Strait are progressing smoothly, and a decision could be reached within 48 hours. Although direct talks between the U.S. and Iran have not occurred, mediators from Qatar, Oman, and Pakistan are facilitating discussions and sharing proposals, increasing the likelihood of a short-term agreement.On August 4, during a press conference in Los Angeles, Trump remarked, "The negotiations are going very well,"

Government Considers Additional Greenbelt Releases Amid Housing Supply Delays Government Considers Additional Greenbelt Releases Amid Housing Supply Delays

The South Korean government is revisiting the possibility of releasing portions of the greenbelt to expand housing supply. This comes as the major third new towns, which also involved significant greenbelt releases, have faced delays due to compensation, transportation plans, and permitting issues. Experts argue that accelerating existing projects should take precedence over additional releases.According to government and parliamentary sources, Deputy Prime Minister and Minister of Economy Koo Y

Japan to Tighten Permanent Residency Requirements for Foreigners Japan to Tighten Permanent Residency Requirements for Foreigners

Japan is set to significantly tighten the requirements for foreigners seeking permanent residency. Applicants and their families must have a combined income exceeding the average for Japanese households, and expected pension benefits must reach the level of those who have contributed to the Employees' Pension Insurance for 30 years. The special application provisions for foreigners married to Japanese citizens or permanent residents will also be reduced. New criteria will be established to revok

Ruling Party Faces Internal Dissent Over Governments Stock Price Protection Plan Ruling Party Faces Internal Dissent Over Government's Stock Price Protection Plan

The Democratic Party is expressing internal dissent regarding the government's tax reform plan aimed at preventing stock price manipulation, arguing that the proposed measures lack effectiveness. Meanwhile, the People Power Party continues its criticism of the government's tax reform proposal.On August 5, Democratic Party lawmaker Lee Hoon-ki held a press conference at the National Assembly to call for a comprehensive review of the Ministry of Finance's stock price protection law. He stated, "It