Coupang Reports $556 Million Operating Loss in Q2, First Half Loss Exceeds $1 Billion
Coupang Inc. reported an operating loss of 835 billion won ($556 million) for the second quarter of this year, marking a shift to a deficit compared to the same period last year, the company announced on August 5. This follows a return to losses in the first quarter after a data breach incident last year, resulting in consecutive operating losses for the second quarter. The operating loss for Q2 surpassed the annual operating profit of 679 billion won recorded last year, making it the largest
Cuban Migrants Head to Brazil as U.S. Asylum Options Dwindle
As the U.S. government largely blocks Cuban migrants from entering the country, more Cubans are heading to Brazil, NPR reported on August 3. Many are fleeing economic sanctions and fuel shortages.The Wall Street Journal (WSJ) cited the Center for Democracy in the Americas (CDA) in Washington, D.C., reporting that Brazil received 44,381 asylum applications from Cubans last year, double the number from the previous year. NPR estimates that thousands of Cubans are arriving in Brazil each month, sur
Profile: Marketer Expands South Korea's Tourism Market
Park Seong-hyeok, president of the Korea Tourism Organization, is a private sector expert with over 30 years of experience in global brand strategy. He has made a name for himself more in corporate settings than in the tourism industry.He graduated from Hankuk University of Foreign Studies with a degree in journalism and earned a master's degree in media studies from Chung-Ang University. He also completed a doctoral program in media communication at Hankuk University of Foreign Studies. For mor
Interview: 'What We Need Now is Content Competition, Not Discounts... Korean Tourism Must Charge Its Worth'
"30 million."This figure follows Park Sung-hyuk, president of the Korea Tourism Organization (KTO). During his inaugural meeting, he set a target of attracting 30 million foreign tourists by 2028. While some have expressed concerns that this focus on quantity may overshadow quality, Park emphasized the importance of expanding the market size.In an interview on July 28 at the KTO's Seoul Center, Park reiterated, "We need to create a market of 30 million." He explained that a larger market would l
Tourism Industry Pushes Back Against Casino Regulation Changes
The tourism industry is expressing growing concerns over proposed regulatory changes to the casino sector. The government's plans to increase the upper limit of tourism development fund contributions and introduce a five-year license renewal system are seen as threats to the survival of the casino industry and could halt significant private investments.On August 4, a policy discussion on improving laws and regulations for the casino industry was held at the Korea Press Center in Jung-gu, Seoul,
Financial Commission Refutes Bloomberg Column on South Korea's Investment Climate
The Financial Services Commission (FSC) has strongly refuted a Bloomberg column titled "South Korea Is Becoming Uninvestable, Too," which cited inaccurate statistics.On August 4, the FSC released a statement asserting, "Given that South Korea is emerging as an indispensable supply chain and investment destination in the global AI market, there is no basis for concerns about being classified as an uninvestable country based on unclear figures."In the column, Bloomberg opinion columnist Shuli Ren
President Lee Calls for Regulation of High Delivery App Fees
李 대통령 "배달앱 과도한 수수료, 권한 활용해 적절히 통제해야"이재명 대통령이 4일 배달 애플리케이션(앱) 수수료 상한제를 두고 "독점에 따른 과도한 수수료는 권한을 가지고 적절히 통제해보라"고 밝혔다.이 대통령은 이날 오후 청와대에서 열린 공정거래위원회 업무보고에서 "배달앱 수수료를 내고 나면 정산금이 절반 수준밖에 남지 않는다"는 한 자영업자의 건의에 이같이 답했다.그러면서 "수수료 통제를 (정부가) 직접 해보면 어떻겠느냐는 것인데 그건 현실적으로 쉽지는 않다"고 말
Leverage Investment Frenzy Leaves Newlyweds and Young Investors in Debt
The reality of young investors hit hard by the leverage investment frenzy sweeping South Korea's stock market is being revealed.An episode of MBC's 'PD Notebook' airing on August 4 focuses on the high-risk investments made by the 2030 generation amid a volatile stock market characterized by rapid rises and falls.In the first half of 2026, the domestic stock market experienced unprecedented investment enthusiasm. During this period, 40% of the 10 new stock accounts opened were attributed to the 2
Implementation of Private University Restructuring Law Approved, Lacks Key Provisions
On August 4, the Cabinet approved the enforcement decree of the Private University Restructuring Law, but experts criticized it as lacking essential elements. "This law is like a 'steamed bun without filling.' There are no clear financial criteria for designating a 'management crisis university' or legal requirements for key restructuring measures such as 'transfer of educational operations' and 'mergers of private universities,'" said Choi Young-chan, a lawyer at Barun Law LLC.The enforcement d
Japanese Government Moves to Designate Kumamoto Earthquake as Special Disaster
The Japanese government is moving to designate the areas affected by the Kumamoto earthquake in Kyushu, which occurred on July 28, as a 'severe disaster' (special disaster).According to Yonhap News on August 4, Kyodo News reported that the Cabinet is expected to finalize the designation of the Kumamoto earthquake as a severe disaster during its meeting on August 7, citing a senior government official.Being designated as a severe disaster will allow for an increase in the allocation of local gove