SK Hynix Reports Record Pre-Tax Profit of 122 Trillion Won
SK Hynix has achieved record pre-tax profit and corporate tax figures following a record operating profit in the second quarter. On July 29, SK Hynix announced that its pre-tax profit for the second quarter reached 122.7 trillion won, marking the highest quarterly figure in the history of the KOSPI for a single company. This figure more than doubles the pre-tax profit of 58.8 trillion won reported by Samsung Electronics in the first quarter, just one quarter prior.The record pre-tax profit was s
Hampyeong County to Disburse 500,000 Won Per Resident Before Chuseok
Hampyeong County in South Jeolla Province has approved its first supplementary budget since the launch of the 9th civil election, allocating 500,000 won per resident to be distributed before Chuseok. This initiative aims to assist residents facing difficulties due to high prices and reduced consumption, while also revitalizing the local economy.On July 30, Hampyeong County announced that the second supplementary budget was approved during the 313th Hampyeong County Council's extraordinary sessio
Surge in Market Volatility Following Launch of Leverage ETFs
Market volatility has overwhelmed investors. Recently, the frequency of volatility control device (VI) activations in the domestic stock market has surged. Following the launch of single-stock 2x leverage exchange-traded funds (ETFs), the market has entered a phase of volatility surpassing that seen during the COVID-19 pandemic, characterized by sharp declines and increases. The VI, a safety mechanism designed to prevent drastic price fluctuations in individual stocks, has been activated intensi
Opposition Condemns Rushed Criminal Procedure Law Changes as 'Bad Law'
On July 29, lawmakers from the People Power Party, including floor leaders Kim Seung-soo and Kim Mi-ae, gathered in front of the National Assembly's Legislative and Judiciary Committee to condemn the Democratic Party's unilateral handling of amendments to the Criminal Procedure Law. The People Power Party warned that abolishing supplementary investigation rights for prosecutors would leave crime victims inadequately protected.Kim Mi-ae, the party's policy chief, spoke to reporters outside the co
China Defends Against Western Criticism of Overproduction, Calls It an Opportunity
The Chinese government has directly countered criticisms from the United States and European countries regarding overproduction, asserting that protectionism poses a greater risk to the global economy.On July 28, the Ministry of Commerce published a lengthy document on its website titled 'China's Position on So-Called Overproduction,' dismissing the controversy surrounding overproduction.The ministry claimed, "Certain countries and economic blocs are politicizing trade and economic issues under
Korea's Communications Commission to Impose Fines Up to 6% for Illegal Spam Violations
Businesses that send illegal spam or fail to comply with spam prevention obligations will face fines of up to 6% of their related revenue, depending on the severity of the violation.The Korea Communications Commission (KCC) announced on July 29 that it has prepared a partial amendment to the Enforcement Decree of the 'Act on Promotion of Information and Communications Network Utilization and Information Protection' and a draft of the guidelines for imposing penalties for violations related to th
1500 Years of Friendship Between Chungnam Province and Nara Prefecture Highlighted at Cultural Seminar
Chungnam Province and Japan's Nara Prefecture are continuing their 1500-year relationship, rooted in the exchanges between Baekje and ancient Japan, through future cooperation centered on world heritage.On July 29, Chungnam Province, in collaboration with the Chungnam History and Culture Research Institute, held the "2026 Korea-Japan Cultural Seminar" at the Lotte Resort in Buyeo, focusing on the theme of "Baekje and the Ancient Capital of Japan."Approximately 250 attendees participated in the s
LG Uplus to Buy Back 90 Billion Won in Shares, Invest 1.3 Trillion Won in AI Data Center
LG Uplus announced on July 29 that its board of directors has approved a share buyback worth 90 billion won. The repurchased shares will be used to enhance shareholder value through measures such as retirement.This buyback is part of LG Uplus's 'Value-up Plan,' announced in November 2024, aimed at increasing corporate value. Since the announcement, the company has consistently pursued share buybacks and retirements as part of its medium- to long-term financial goals and shareholder return policy
KAI Reports 43% Drop in Q2 Operating Profit Due to Delays in Light Helicopter Deliveries
Korea Aerospace Industries (KAI) reported that its operating profit for the second quarter of this year fell by 43.1% compared to the same period last year, due to delays in the delivery of light armed helicopters.KAI announced on July 29 that its consolidated operating profit for Q2 was 48.4 billion won, while sales exceeded 1 trillion won, reaching 1.1679 trillion won, a 41% increase from the previous year. However, net profit dropped by 35.2% to 37 billion won. The significant decline in oper
Government to Double BRT Exclusive Lanes by 2030, Increasing Bus Speeds by 20%
The government plans to double the exclusive lanes for the Bus Rapid Transit (BRT) system by 2030 and increase bus speeds by approximately 20% to enhance the competitiveness of regional public transportation.The Ministry of Land, Infrastructure and Transport's Metropolitan Transport Committee announced on July 29 that it has finalized and published the 'Second Comprehensive BRT Plan (2026-2030).'The BRT comprehensive plan is a statutory plan established every five years to create an efficient BR