Special Prosecutors Indict Kim Tae-hyo for Justifying Martial Law; Yoon and Shin to be Charged
Former National Security Office First Deputy Director Kim Tae-hyo has been indicted while in custody for allegedly justifying the declaration of martial law to allied nations, including the United States, shortly after it was announced on December 3, 2024. The special prosecutors' office plans to charge former President Yoon Suk Yeol and former National Security Office Director Shin Won-sik in the future.On July 29, the second comprehensive special investigation team, led by Special Prosecutor K
Microsoft Reports 18% Revenue Growth, Azure Sees 43% Increase Amid AI Investments
Microsoft (MS) has exceeded market expectations with strong earnings driven by growth in its cloud business. The company significantly increased its investments in artificial intelligence (AI) infrastructure, and the rapid growth of its core cloud service, Azure, has raised hopes that these large-scale AI investments are translating into actual revenue growth.On July 29, Microsoft announced that its revenue for the fourth quarter of fiscal year 2026 (April to June) rose 18% year-over-year to $90
Mother of Trot Singer Jang Yoon-jung Charged with Investment Fraud
The mother of trot singer Jang Yoon-jung has been indicted while in custody on charges of fraud.On July 29, Yonhap News and the Seoul Eastern District Prosecutors' Office announced that Jang's mother, identified as Yook, has been charged with defrauding acquaintances of millions of won under the pretense of investment.Yook is accused of receiving several million won from a friend as an investment but failing to return any profits.Previously, police received a complaint from the victim and tracke
Meta Reports 28% Revenue Growth but Profits Fall Short Amid AI Investments
Meta, the parent company of Facebook and Instagram, reported second-quarter revenue growth but fell short of market expectations for profits and third-quarter forecasts. The company's significant investments in artificial intelligence (AI) infrastructure have led to a more than 90% decline in usable free cash flow.On July 29, Meta announced that its second-quarter revenue reached $60.8 billion, a 28% increase from the same period last year, surpassing market expectations of $60.17 billion.Howeve
Gijang County Launches Task Force to Combat Corruption and Waste
Gijang County in Busan has launched a dedicated organization to prevent corruption and budget waste, and is conducting joint inspections of coastal blind spots with the county council to enhance transparent and accountable governance.The initiative aims to ensure fairness in administrative procedures while increasing effectiveness through on-site communication.On July 29, Gijang County officially launched the 'Task Force for Comprehensive Investigation of Corruption and Wasteful Projects' to enh
U.S. Stocks Plunge Despite Fed's Rate Hold; Dow Falls 2.19%
U.S. stock indices fell sharply on July 29, 2026, as the Federal Reserve held interest rates steady, but concerns about potential rate hikes lingered due to dissent among some committee members. Investor sentiment was further dampened by rising oil prices and long-term Treasury yields amid escalating tensions in the Middle East.The Dow Jones Industrial Average closed down 2.19% at 51,594.14. The S&P 500 dropped 1.52% to 7,316.15, while the tech-heavy Nasdaq Composite fell 1.74% to 24,442.94.
Black Wednesday Hits Markets Despite SK Hynix Record Earnings
Black Wednesday Hits Markets Despite SK Hynix Record Earnings On July 29, the Korea Exchange reported that the KOSPI closed at 5,663.24, down 360.42 points (5.98%) from the previous trading day. The KOSDAQ started at 713.71, up 7.86 points (1.11%), but quickly turned downward, finishing at 662.68. The sharp decline triggered the 15th first-stage circuit breaker in history and the ninth this year for the KOSPI. The KOSDAQ also activated its 14th first-stage circuit breaker, marking the first time
Trump Warns of Strong Retaliation After Iran Missile Attack
President Donald Trump has warned of a strong retaliation following Iran's missile attack on a U.S. military base in Jordan.On July 29, local time, Trump referenced the Iranian attack, stating, "Now it's our turn," and promised to strike them "very hard."In a phone interview with Fox News, Trump used strong language, saying, "We will hit them hard. They will be hit."Earlier, the Iranian Revolutionary Guard Corps (IRGC) announced that it had launched ballistic missiles targeting the Muwaffaq Salt
Israeli Army Chief Warns of Deeper Incursion into Lebanon if Necessary
Israeli Army Chief of Staff Eyal Zamir has warned that military operations in Lebanon could expand further.On July 29, local time, Zamir visited the southern operational area in Lebanon and stated, "If necessary, we will advance deeper and reach other areas."Zamir emphasized, "The military operations ongoing on various fronts are not over yet," adding that plans are being prepared to respond to any changes in the situation.This statement comes amid rising tensions between the Israeli military an
Drone Attack Reported on U.S.-Owned LNG Vessels in Egypt
A U.S.-owned liquefied natural gas (LNG) storage and supply vessel docked at Egypt's Damietta Port was reportedly attacked by a drone. The fire spread to a nearby LNG carrier, but no casualties were reported.According to Reuters on July 29, the British maritime security firm Ambrey stated that the 'Energos Winter' appeared to have been struck by a drone.Industry sources indicated that the fire from the Energos Winter spread to the nearby LNG carrier 'Gaslog Salem.' Other security sources also re