Ruling Party Defends Criminal Procedure Law Amid Controversy
The Democratic Party of Korea on August 2 defended its proposed amendments to the criminal procedure law, which have faced criticism for alleged misuse of police investigative powers and the inclusion of grounds for dismissal, stating, "This is completely untrue. It guarantees victims' rights and poses no legal issues."Seong-kyu Seo, chair of the Legislative Judiciary Committee, and Seung-won Kim, the ruling party's committee member, held an urgent press conference at the National Assembly to sh
Korea Fair Trade Commission Approves Merger of Korail and SR, Reducing KTX Fares by 10%
The Korea Fair Trade Commission has granted final approval for the merger between Korea Railroad Corporation (Korail) and SR (the operator of SRT). The two companies plan to complete their integration by September and will implement measures to enhance consumer benefits, including a 10% reduction in KTX fares and an increase of over 17,000 seats on weekends over the next three years.The Fair Trade Commission announced on August 2 that it received a notification regarding Korail's acquisition of
Daewoo Construction Emerges as Strong Contender for Yeouido Hwarang Reconstruction
The competition for the construction rights of the Yeouido Hwarang Apartment reconstruction project is intensifying, with Daewoo Construction emerging as a strong candidate. The company has begun preparations for the bid in collaboration with an overseas design firm, and the bid requirements, which include high-end branding and completion records, further position Daewoo as the leading contender.According to the construction industry on August 2, the Yeouido Hwarang Apartment reconstruction asso
Lotte Wellfood Promotes K-Snacks at UNESCO World Heritage Committee
Lotte Wellfood participated as an official partner of the UNESCO World Heritage Committee, promoting K-snacks to delegations and visitors from around the world.The company announced on August 2 that it showcased key products, including Pepero and Zeck, at the 48th UNESCO World Heritage Committee held at BEXCO in Busan from July 19 to 29.During the event, Lotte Wellfood provided approximately 3,000 product samples in the delegation lounge, which was utilized by participants from 162 countries. Pe
SK Telecom Launches New Products and Benefits for 10 Million Runners
SK Telecom (SKT) is expanding its offerings for running enthusiasts with new wearable devices and promotions.On August 2, SKT announced the launch of Garmin's running GPS smartwatches, the Forerunner 70 and Forerunner 265, along with Shokz's bone conduction earphones, the OpenRun Pro 2.These products will be added to the list of devices eligible for the 'Smart Device Installment Discount' available to customers on the 'Best Max', 'Best Pro', 'Best 109', and 'Direct 5G 76' plans.SKT will also ser
E-Land New Balance Launches Same-Day Delivery Service
E-Land World, which operates New Balance, is launching a same-day delivery service utilizing inventory from its nationwide offline stores. E-Land World announced on August 2 that it will begin offering the 'Fast Arrival' service for same-day and next-day delivery on its official online mall starting August 3. Products ordered before noon on weekdays can be received the same day in Seoul and the surrounding metropolitan area. For other regions, excluding remote areas, delivery will occur the next
Small Manufacturers Expand Sales Through Coupang's Private Brand, Reinvest in R&D
Small manufacturers producing Coupang's private brand (PB) products are reinvesting their increased sales into research and development and production facilities. According to Coupang on August 2, KGS Geumgang, a manufacturer of interior finishing materials based in Gwangju, has been supplying sticker wallpaper and insulation sheets to Coupang's PB subsidiary, CPLB, for about two years. The company has developed self-interior products that reduce condensation and drafts for over a decade. Its st
Jung Jeom-sik Calls for National Investigation into Stock Market Volatility
Jung Jeom-sik, the floor leader of the People Power Party, argued on August 2 that a national investigation is necessary to determine accountability for the extreme volatility in the domestic stock market.In a post on his Facebook, Jung warned that "our stock market is abnormal right now" and emphasized the need for a national investigation to clarify responsibility for the crisis in the KOSPI and KOSDAQ markets.He pointed out that the decline in the KOSPI during July was greater than during the
Korea Zinc Celebrates 52nd Anniversary, Aims to Become Global Core Mineral Platform
Korea Zinc has announced its ambition to become a global core mineral platform company, focusing on the construction of a U.S. smelter and the expansion of its core mineral business as it celebrates its 52nd anniversary.According to Korea Zinc, Chairman Choi Yoon-bum stated in his founding speech on July 31, "We will establish a new growth foundation based on the world-class smelting technology and the capabilities of our employees accumulated over the past half-century." Chairman Choi introduce
Korea's Financial Supervisory Service Reduces Time to Block Illegal Loan Phone Numbers
The Financial Supervisory Service (FSS) is implementing an automatic call-blocking system to swiftly disable phone numbers used for illegal lending. This measure aims to reduce the harm caused by illegal lenders who use these numbers to solicit high-interest loans or continuously contact debtors and their associates.On August 2, the FSS announced the operation of the 'Zero Illegal Phones (AWCS)' system, which was prompted by the ongoing issues of debt collection despite the expansion of phone nu