Jang Dong-hyuk, leader of the People Power Party, is set to announce a reform plan aimed at creating a 'party-centered' organization by mid-August, coinciding with his one-year anniversary in office. Meanwhile, former independent lawmaker Han Dong-hoon and former lawmaker Yoo Seung-min are emphasizing the importance of 'the people' and 'bottom-up nominations' as a counter to Jang's approach. Concerns have been raised that Jang's focus on consolidating party control may alienate public sentiment.

Following the passage of a criminal procedure law amendment on July 31 that includes the abolition of supplementary investigation rights and the expansion of grounds for dismissing charges, political parties are engaged in a heated debate. On August 3, the Democratic Party held a national briefing on the amendment at the National Assembly, while the People Power Party convened an on-site meeting in front of the Blue House to rally public opinion.The Democratic Party asserted that the amendment d

The KOSPI index fell more than 5% on August 3, dropping below the 6200 mark. This decline followed a 17.9% surge on July 31, which prompted profit-taking, particularly among foreign investors.According to the Korea Exchange, the KOSPI closed at 6257.45, down 338.00 points (-5.12%) from the previous trading day. This loss represents about one-third of the gains made on July 31, when the index soared by 1001.89 points (17.91%) to reach 6595.45.On the supply and demand front, individual investors s

The Special Prosecutor's Office (SPO) has reiterated its demand for the transfer of the case involving former Justice Minister Park Sung-jae, who was acquitted of violating the Anti-Corruption Law, to the Comprehensive Special Prosecutor's Office (CSPO).According to legal sources on August 3, the CSPO stated during a regular briefing that "the case against former Minister Park for violating the Anti-Corruption Law has been closed," adding, "Only record retention procedures remain, and the case c

In the ongoing Democratic Party convention that began on August 1, candidates Kim Min-seok and Jeong Cheong-rae have each secured leads in the Chungcheong and Busan-Ulsan-Gyeongnam regions, respectively. The competition has intensified as both candidates seek to consolidate their factions ahead of the remaining rounds of the convention, with narrow margins separating them in both regions.According to the Democratic Party, the factional conflicts surrounding the leading candidates, Jeong and Kim,

The economic losses from wildfires and heatwaves in five major European countries have reached €3.1 billion (approximately 5 trillion won).According to the Financial Times on August 2, the total economic damage in France, Spain, Portugal, Greece, and Romania, where wildfires and heatwaves have been concentrated, is estimated at €3.1 billion.This figure is €600 million higher than the €2.5 billion estimated by the European Commission. The Financial Times based its estimate on data from the Europe

On Tuesday, temperatures are expected to soar to a high of 37 degrees Celsius across the country, continuing the trend of extreme heat.According to the Korea Meteorological Administration's forecast on August 3, the morning low on August 4 will range from 23 to 27 degrees Celsius, with daytime highs between 31 and 37 degrees.For the foreseeable future, most regions will experience a perceived temperature around 35 degrees, leading to ongoing sweltering heat and tropical nights.In addition to the

Gyeongnam Province is taking comprehensive measures to secure the unified headquarters of power companies in Gyeongnam Innovation City, retain the headquarters of the Korea Land and Housing Corporation (LH), and preserve the naval academy in Jinhae.In response to government discussions about the integration of power companies, the relocation of public institutions, the restructuring of LH, and the consolidation of military academies, the province has proactively outlined its position to protect

Following the government's increase of the basic deposit requirement for single-stock leverage exchange-traded funds (ETFs) to 30 million won, trading volumes for Samsung Electronics and SK Hynix leverage ETFs have decreased by more than 50%. Analysts suggest that the new regulations aimed at curbing investment speculation have effectively dampened short-term trading.According to the Korea Exchange on August 3, the trading volume for 14 types of single-stock leverage ETFs based on Samsung Electr