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Hyundais Chairman Euisun Chung Emphasizes Local R&D and Powertrain Localization in Brazil Hyundai's Chairman Euisun Chung Emphasizes Local R&D and Powertrain Localization in Brazil

"To secure sustainable long-term business competitiveness, we must strengthen local research and development (R&D) capabilities and actively promote powertrain localization," said Euisun Chung, Chairman of Hyundai Motor Group, during his visit to the R&D center for South America at Hyundai's Brazil plant on July 27 (local time). Chung's visit coincided with South Korean President Lee Jae-myung's state visit, as he accompanied a Korean economic delegation to Brazil.Brazil, the world's sixth-large

Koreas KOSME and Credit Guarantee Fund Sign MOU to Support Mid-Sized Enterprises Global Expansion Korea's KOSME and Credit Guarantee Fund Sign MOU to Support Mid-Sized Enterprises' Global Expansion

The Korea SMEs and Startups Agency (KOSME) announced that it signed a memorandum of understanding (MOU) with the Credit Guarantee Fund on July 30 in Daegu to support the global expansion and scale-up of mid-sized enterprises.This agreement aims to combine the policy capabilities of both organizations to establish a multifaceted support system that enables promising domestic mid-sized enterprises to evolve into globally competitive companies.The two organizations will collaborate on initiatives i

Controversial Bill to Abolish Prosecutors Investigative Powers Advances in South Korea Controversial Bill to Abolish Prosecutors' Investigative Powers Advances in South Korea

검찰의 보완수사권을 전면 폐지하고 법원의 공소기각 사유를 확대하는 내용을 담은 형사소송법 개정안이 국회 본회의에 상정되어 처리를 앞두고 있다. 여당인 더불어민주당이 상임위원회에서 법안을 단독 의결한 지 하루 만에 본회의 수순을 밟으면서, 정치권은 또다시 극심한 강대강 대치 국면으로 치닫고 있다. 형사사법 체계의 근간을 뒤흔드는 중대 입법이 충분한 사회적 합의나 숙의 과정 없이 정쟁의 한복판에서 일방통행식으로 추진되는 현실에 깊은 우려를 표하지 않을 수 없다. 이번 개정안의 핵심은 검사의 직접수사권과 보완

Japans Population Falls Below 120 Million for First Time in 42 Years, Foreign Residents Reach 4 Million Japan's Population Falls Below 120 Million for First Time in 42 Years, Foreign Residents Reach 4 Million

The population of Japan has fallen below 120 million for the first time in 42 years. The country recorded a decrease of over 910,000 people in the past year, marking the largest decline since the start of population surveys. Meanwhile, the number of foreign residents in Japan has surpassed 4 million for the first time.According to the Nihon Keizai Shimbun (Nikkei), the Ministry of Internal Affairs and Communications reported on July 29 that as of January 1 this year, the Japanese population stoo

Busan Sees Significant Increase in New Corporations in First Half of 2026 Busan Sees Significant Increase in New Corporations in First Half of 2026

The number of new corporations in the Busan area has shown a notable increase in the first half of 2026, indicating a rebound in the startup market.The rise in foreign tourists and major development projects appear to have stimulated entrepreneurial sentiment in the service sector and specific industries. However, domestic-focused sectors such as retail and construction remain subdued, necessitating a multifaceted analysis of the causes and tailored policy responses.According to a report release

Creating Memories of Taean Through Art: Special Experiences at Irooon Workshop Creating Memories of Taean Through Art: Special Experiences at Irooon Workshop

On July 28, an online exchange event for Korean and Chinese fan crafts was held at the Irooon Workshop in Taean, South Chungcheong Province.During the event, artisans from Taean and Tai'an, China, showcased their works, with Seong Ji-sook, the representative of Irooon Workshop, presenting her own creations.The Irooon Workshop serves as a space where visitors can create handicrafts, allowing them to take home memories of their trip to Taean.Last October, the workshop relocated to provide a more s

Amanoi Resort Plans $43 Million Investment for Luxury Experience Expansion Amanoi Resort Plans $43 Million Investment for Luxury Experience Expansion

The luxury resort market in Vietnam is shifting from a competition of quantity to one focused on offering irreplaceable experiences. Amanoi has announced plans to invest 800 billion dong (approximately $43.9 million) to add 10 new rooms, raising questions about whether an investment of 80 billion dong (about $4.4 million) per room is justified. Unlike typical resorts that increase room numbers to boost profitability, luxury resorts are expanding their market by emphasizing scarcity, privacy, env

LG Electronics Reports Record Q2 Revenue and Operating Profit LG Electronics Reports Record Q2 Revenue and Operating Profit

LG Electronics announced on July 30 that it achieved a record revenue of 23.83 trillion won and an operating profit of 1.58 trillion won for the second quarter. Both figures represent the highest ever recorded for the second quarter. Compared to the same period last year, revenue increased by 14.9%, while operating profit surged by 147%.Despite unfavorable external conditions, including conflicts in the Middle East, the company leveraged its competitive edge in home appliances to drive revenue g

Foreign Sales at Duty-Free Shops Near 5 Trillion Won in First Half of 2026 Foreign Sales at Duty-Free Shops Near 5 Trillion Won in First Half of 2026

In the first half of 2026, foreign sales at South Korean duty-free shops approached 5 trillion won. The increase in foreign visitors and the industry's shift from catering to bulk buyers from China to attracting individual tourists contributed to this growth. However, despite the rise in the number of customers, the increase in sales has been slower, highlighting a decline in average spending as a new challenge. According to the Korea Duty-Free Shops Association, foreign sales from January to Ju

Hwacheon County Council Calls for Designation of Peace Economic Zone Hwacheon County Council Calls for Designation of Peace Economic Zone

On July 30, the Hwacheon County Council concluded its 297th extraordinary session, during which council members passed a resolution urging the designation of the county's second Peace Economic Zone. This session marked the first extraordinary meeting since the 10th Hwacheon County Council was established, focusing on various policy initiatives aimed at securing future growth and improving the quality of life for residents over a 15-day agenda.During the sixth plenary session, the council approve