Government Pushes for Direct Current Power Distribution Network to Boost Industry
The South Korean government is advancing the implementation of a direct current (DC) power distribution network in response to the growing use of renewable energy, energy storage systems (ESS), and data centers. A plan outlining policy, technology, and institutional support for the 'DC Industry Activation Plan' is expected to be established in the third quarter.The Ministry of Climate, Energy, and Environment announced that Minister Kim Sung-hwan will host a 'DC Industry Activation Meeting' on t
Government to Implement Cryptocurrency Taxation as Planned Starting Next Year
The government plans to implement taxation on cryptocurrency income as scheduled starting next year, without any further delays.Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, stated during a report to the National Assembly's Finance and Economy Committee on July 29 that, in response to a question from People Power Party lawmaker Kim Sang-hoon regarding the timing of cryptocurrency taxation, "Currently, we are pushing forward with the plan to tax starting next year as s
Korea Hydro & Nuclear Power Partners with Yeongdeok County for New Nuclear Plant
Korea Hydro & Nuclear Power (KHNP) is set to enhance its collaboration with Yeongdeok County through the construction of a new nuclear power plant. The initiative aims to stimulate the local economy, promote the development of an eco-friendly energy city, and address the crisis of regional decline by leveraging the nuclear facility as a growth engine for local development.On July 29, KHNP announced that it signed a "Mutual Cooperation Agreement for the Construction of a New Nuclear Power Plant a
Ace Bed Launches Stressless Dining Collection with Nordic Design
Ace Bed has introduced a new 'Dining Collection' from the recliner brand Stressless.According to Ace Bed, the Stressless 'Dining Collection' consists of two types: chairs and tables. This collection aims to strengthen Stressless's position as a luxury lifestyle brand.The dining chair 'Mint' features luxurious cushioning that gently envelops the body and a stable armrest design for exceptional seating comfort. Notably, it incorporates Stressless's 'Balance & Glide' technology, allowing the seat a
Record 8.32 Million Foreign Tourists Visit Seoul in First Half of 2026
In the first half of 2026, Seoul welcomed a record 8.32 million foreign tourists, who also set a new high for credit card spending.According to the Seoul Metropolitan Government, the number of foreign visitors from January to June increased by 21.3% compared to the same period last year. Among them, the largest group was from China, totaling 2.47 million, followed by Japan with 1.5 million, Taiwan with 880,000, and the United States with 620,000.During the same period, foreign tourists' credit c
Legislative Committee Moves to Discuss Criminal Procedure Law Amendments
The National Assembly's Legislative and Judiciary Committee activated a task force on July 29 at the request of the People Power Party to begin serious discussions on amendments to the Criminal Procedure Law, which include the complete abolition of the prosecution's supplementary investigation rights. The committee is expected to reconvene after the task force concludes its work to prepare for a vote on the amendments in the plenary session scheduled for July 30.The task force will consist of th
HD Construction Machinery Shares Recover After Earnings Report
HD Construction Machinery shares initially plummeted over 12% during trading but later reduced their losses to about 1% following the release of its second-quarter earnings report.As of 2:11 PM on July 29, HD Construction Machinery was trading at 120,900 won, down 1,900 won (1.55%) from the previous trading day. The stock had fallen to as low as 107,100 won earlier in the session, marking a decline of more than 12%, but began to recover after the earnings announcement around 1:20 PM.In its earni
Samsung Electro-Mechanics to Raise MLCC Prices by 30% Amid AI Server Demand Surge
Samsung Electro-Mechanics will increase the prices of multilayer ceramic capacitors (MLCC) by 30% starting next month. This decision comes in response to a growing shortage of high-performance MLCCs due to increased investments in artificial intelligence (AI) servers and data centers.According to industry sources on July 29, Samsung Electro-Mechanics recently informed its sales partners of the price hike. All MLCC products supplied through its Shenzhen, China, subsidiary will be affected. The ne
FIFA Plans to Establish World Cup Operations Subsidiary, Potential Trump Family Investment
The International Federation of Association Football (FIFA) is moving to establish a subsidiary to manage the commercial and event operations of the World Cup, with plans to sell a portion of its stake to private investors. This initiative comes amid FIFA's recent closeness to U.S. President Donald Trump, raising concerns about potential investments from Trump's family.According to the Financial Times on July 28, FIFA is set to create a new company called 'FIFA Forward Enterprise' (FFE) and is i
Iran Fires Ballistic Missiles at U.S. Base in Jordan; U.S. and Saudi Arabia Respond
Iran launched several ballistic missiles at a U.S. military base in Jordan, all of which were intercepted by U.S. forces.The U.S. Central Command reported that at approximately 5:45 p.m. local time on July 28, the Islamic Revolutionary Guard Corps (IRGC) fired multiple ballistic missiles targeting U.S. forces in the Middle East.Central Command stated, "All Iranian missiles were successfully intercepted," adding that U.S. forces are maintaining a high level of alert.The exact location of the atta