Song Young-gil Rejects Candidate Unification, Vows to Complete Race
Song Young-gil, a member of the Democratic Party and candidate for party leader, has dismissed the possibility of candidate unification and made it clear that he intends to complete the race until the party convention on the 17th. He argued that withdrawing midway would be disadvantageous given the introduction of a preferential voting system, and he plans to leverage his experience leading both local governments and the ruling party to aim for a late-stage turnaround.In an interview with Aju Ec
Dongyang Life to Proceed with Stock Exchange with Woori Financial Group as Planned
Dongyang Life will proceed with the comprehensive stock exchange process with Woori Financial Group as scheduled.On August 4, Dongyang Life held a board meeting and announced that it has approved the decision not to exercise the termination right related to the comprehensive stock exchange agreement with Woori Financial Group, proceeding according to the planned schedule.Previously, the two companies signed a comprehensive stock exchange agreement in April, which included a condition allowing fo
Victims of Rental Fraud Left with Nothing but Bills
We aim to go a step further. The Aju Economic Investigation Team, 'Walking the Ground,' consists of reporters in their 20s and 30s who engage directly with people to record their voices. We track all issues related to economy, industry, politics, society, real estate, and culture, focusing on the realities of life. Problems have always existed but often remain hidden and unreported. 'Walking the Ground' seeks to reveal the unseen and amplify unheard voices through persistent inqu
Police to Handle All Complaints Starting in October Amid Controversial Legal Reforms
The government approved a bill on August 4 that abolishes the prosecution's investigative powers, marking a significant shift in the criminal justice system that has been in place for 72 years. Once signed by President Lee Jae-myung and published in the official gazette, the changes will take effect in October.Starting in October, the newly established Prosecution Office and the Serious Crimes Investigation Agency will completely separate investigation and prosecution functions. All cases will b
Shifts in Investment Trends: Retail Investors Favor Semiconductors, Foreign Investors Opt for Autos
The KOSPI has experienced a significant decline over the past month, leading to stark differences in investment choices among market participants. Retail investors have focused heavily on semiconductor stocks, while foreign investors have increased their stakes in automotive, defense, and financial sectors.According to the Korea Exchange, from July 3 to August 3, the KOSPI fell by 18.18%, dropping from 7,648.09 to 6,257.45. During the same period, trading volume reached approximately 747.69 tril
U.S.-Japan Currency Alliance Launches After 9 Months of Preparation
On July 31, the coordinated yen-buying intervention by U.S. and Japanese authorities was executed after approximately nine months of discussions. The Yomiuri Shimbun reported on August 4 that U.S. Treasury Secretary Scott Vesent proposed a method for dollar procurement to Japan last October, allowing for intervention funding without selling U.S. Treasury bonds. Japan plans to continue securing funds for yen-buying interventions using this method.The Japanese government initiated a solo yen-buyin
Minister Kim Seong-hwan: 12th Basic Plan for Power Supply to be Ready by October
Minister of Climate, Energy and Environment Kim Seong-hwan announced on August 4 that the 12th Basic Plan for Power Supply, which includes plans for expanding renewable energy, reducing coal power, and enhancing a flexible power grid, will be prepared by October.During a mid-year report to President Lee Jae-myung at the Blue House in Jongno, Seoul, Kim stated that the decision on whether to introduce new nuclear power plants will be made after consulting with experts and gathering public opinion
Chinese Stock Market Rises on Oil Stability and Nvidia Boost
The Chinese stock market rebounded on August 4 after a decline the previous day. Analysts attribute the rise to improved investor sentiment following stabilization in international oil prices.On this day, the Shanghai Composite Index closed up 0.33% at 3,822.28, the Shenzhen Component Index rose 3.25% to 13,885.71, and the ChiNext Index increased by 5.64% to 3,488.97.The easing of Middle Eastern risks, as the United States postponed attacks on Iran, contributed to the positive market sentiment.
Homeowners in Gangnam Resist Selling Amid Tax Changes
“After living here for over 30 years, are you telling me to sell my house and leave?”On August 4, the day after the government announced its real estate tax reform plan, brokers in the One Bailey complex in Banpo-dong, Seocho-gu, Seoul, were inundated with calls from homeowners seeking consultations. Long-term homeowners, particularly elderly members of the original cooperative, were busy weighing the increased property taxes against the reduced capital gains tax exemptions, calculating whether
Concerns Rise Over the Impact of Abolishing Prosecutorial Investigative Powers
On July 31, the National Assembly passed an amendment to the Criminal Procedure Law, led by the ruling party, which abolishes the supplementary investigative powers of prosecutors. This marks the end of a 78-year era of prosecutorial investigative authority in South Korea, which has been in place since the establishment of the government. However, concerns about the potential negative effects of this change are being voiced by legal and political circles, indicating that debates over the aboliti