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South Korea's Financial Regulator Apologizes for Market Volatility Amid ETF Controversy

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Business·5 saat önceAI özeti

South Korea's Financial Regulator Apologizes for Market Volatility Amid ETF Controversy

South Korea's Financial Services Commission (FSC) Chairman Lee Eog-weon apologized for failing to meet public expectations amid extreme market volatility, exacerbated by single-stock leveraged ETFs. The FSC announced measures to stabilize the market, including a hike in minimum cash deposits for ETF investments and potential caps on ETF investments within individual portfolios.

South Korea Drafts Consolidated Digital Asset Bill, Opposition Seeks Crypto Tax Repeal

South Korea's FSC plans to introduce a consolidated Digital Asset Basic Act covering stablecoins and cryptocurrency, amid 10 pending bills. Separately, an opposition bill to repeal the upcoming 20% crypto income tax heads for review.

South Korea to Host Venezuela, Uzbekistan in October Football Friendlies

South Korea will play friendly matches against Venezuela (Oct 2) and Uzbekistan (Oct 6) during the FIFA international match window, amid a coaching vacancy and recent FIFA ranking drops for both teams.

S. Korea considers capping single-stock leveraged ETFs in portfolios to curb volatility

South Korea's finance ministry considers capping single-stock leveraged ETFs at 20% of retail investors' portfolios to reduce stock market volatility.

UNESCO World Heritage Committee Adds 25 New Sites, Wraps Up Session in South Korea

The 48th UNESCO World Heritage Committee session in Busan, South Korea, added 25 new sites to the global heritage list, including Japan's Asuka-Fujiwara capitals and France's Normandy D-Day beaches, bringing the total to 1,273 properties across 173 countries.

South Korean Navy Hails RIMPAC Participation as 'Valuable' for Strengthening Combined Maritime Operations

South Korea's Navy participation in the US-led RIMPAC exercise (June 24-July 31) strengthened its capability to lead combined maritime operations, according to Rear Adm. Kim In-ho, who commanded the combined maritime component forces.

S. Korean Trap Shooter Loses Asian Games Spot Amid Ammunition Investigation

A South Korean national team trap shooter has been removed from the Asian Games roster after police found 818 shotgun shells in his car, exceeding the 400-round limit. He withdrew from a competition in China and was questioned by police.

South Korean Golfer Jenny Shin Ends 10-Year LPGA Drought with Scottish Open Win

South Korean golfer Jenny Shin, 33, wins the ISPS Handa Women's Scottish Open, her first LPGA Tour victory since 2016, overcoming a 'rough patch' in her career by rediscovering her love for the game.

Scientists Solve 250-Year-Old Puzzle on Brain Waste Clearance

An international team led by Dr. Koh Gou-young discovers arachnoid fenestrations, tiny openings in the brain's protective membrane, enabling cerebrospinal fluid to drain into lymph nodes, shedding light on waste clearance crucial for preventing neurodegenerative diseases like Alzheimer's.

Chip stocks fall sharply as AI sell-off deepens across US and Asia

Major chip stocks fell sharply in the US and Asia as investors sold AI-related shares. South Korea’s Kospi was briefly halted after an 8% drop, while Nvidia’s decline helped Apple regain the top spot.

South Korean Sports Federations Locked Out by Election Protesters Seek Authorities' Help

9 South Korean sports federations, locked out of their Olympic Park offices by election fraud protesters since June 5, appeal to authorities for help to resume operations ahead of the Aichi-Nagoya Asian Games.

South Korea's KB Kookmin Bank to Launch Blockchain Cross-Border Payment Service

KB Kookmin Bank to introduce blockchain-based cross-border payment service via JPMorgan's Kinexys network in August, initially supporting USD transfers across 10 countries.

South Korea Issues Highest-Level Heat Warnings for Southeastern Regions

South Korea's weather agency issues highest-level heat wave warnings for southeastern parts, including Daegu, Gyeongsan, Cheongdo, Pohang, and Gyeongju, with temperatures reaching up to 38.4°C on July 26.

South Korea's President Lee Calls for Expanded U.S. Ties in Tech, Innovation

South Korean President Lee Jae Myung urges expansion of US-Korea alliance into tech, innovation, and startups, leveraging US venture capital and Korea's advanced manufacturing.

Yonhap News

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South Korea Seeks Deeper Regional Cooperation Amid Mounting Challenges, Divided Landscape at ASEAN Meetings

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Siyaset·6 gün önceAI özeti

South Korea Seeks Deeper Regional Cooperation Amid Mounting Challenges, Divided Landscape at ASEAN Meetings

Foreign Minister Cho Hyun sought to deepen cooperation with regional partners at ASEAN-led meetings in Manila, addressing security and economic challenges. However, North Korea's absence from the ARF and limited exchanges with China and Russia highlighted a divided regional landscape.

Yonhap News

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South Korea Disciplines Officers Over Marine's 2023 Flood Rescue Death; Former Commander Faces Prison Sentence Request

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Defense·6 gün önceAI özeti

South Korea Disciplines Officers Over Marine's 2023 Flood Rescue Death; Former Commander Faces Prison Sentence Request

South Korea's defense ministry disciplined former senior officers, including dismissing two commanders, for the 2023 death of Marine Cpl. Chae Su-geun during a flood rescue without safety gear. Separately, a special counsel requested a five-year prison sentence for former 1st Marine Division commander Lim Seong-geun in an appeals trial.

Yonhap News

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South Korean Military Investigates Unauthorized Access to Soldiers' Medical Records

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Defense·6 gün önceAI özeti

South Korean Military Investigates Unauthorized Access to Soldiers' Medical Records

South Korea's military is investigating unauthorized access to its Picture Archiving and Communication System (PACS) that exposed soldiers' medical records late last year. The breach, affecting 8GB of data, was discovered in April, prompting system shutdown and a joint probe. Disciplinary action is sought against three officers.

South Korean Professor Jailed for Coercing Students to Write Papers for Daughter

A former professor in Seoul, Lee M, has been sentenced to 3.6 years in jail by South Korea's Supreme Court for coercing his students to write research papers and fabricate data for his daughter's high school and university admissions between 2012 and 2018. His daughter also received a suspended sentence.

TOI World

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South Korean Food Makers Raise Prices Amid Middle East Tensions, Won Depreciation

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Business·6 gün önceAI özeti

South Korean Food Makers Raise Prices Amid Middle East Tensions, Won Depreciation

South Korean food and confectionery companies, including Nongshim, CJ Foodville, and BR Korea, are raising product prices by 5.8% to 6.5% due to increased costs from the Korean won's depreciation and rising oil prices linked to Middle East tensions.

Yonhap News

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South Korean Crypto Exchange Korbit to Rebrand as Digital X Under Mirae Asset Group

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Crypto·6 gün önceAI özeti

South Korean Crypto Exchange Korbit to Rebrand as Digital X Under Mirae Asset Group

South Korean crypto exchange Korbit will rebrand as Digital X after its acquisition by Mirae Asset Group. Mirae founder Park Hyeon-joo announced the name, central to the group's "3.0" strategy to combine digital and traditional finance, with plans for RWA tokenization, security tokens, and stablecoins.

Cointelegraph

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SK Group Chairman Chey Tae-won's Divorce Could Be South Korea's Most Expensive

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Business·6 gün önceAI özeti

SK Group Chairman Chey Tae-won's Divorce Could Be South Korea's Most Expensive

SK Group Chairman Chey Tae-won's divorce from Roh So-young could become South Korea's most expensive, with a Seoul High Court ruling potentially awarding Roh a significant portion of Chey's US$5.6 billion fortune, boosted by SK Hynix's AI chip success.

SCMP Economy

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North Korea accuses US, S. Korea, Japan of using ASEAN forum to 'incite' hostility, push denuclearization

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Siyaset·6 gün önceAI özeti

North Korea accuses US, S. Korea, Japan of using ASEAN forum to 'incite' hostility, push denuclearization

North Korea's foreign ministry accused South Korea, the U.S., and Japan of exploiting the recent ASEAN forum in the Philippines to incite hostility, promote a U.S.-led security bloc, and push for denuclearization, which Pyongyang asserts is "irreversibly concluded."

Yonhap News

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US Imposes Tariffs Citing Forced Labor, Experts Call it Trade Pretext

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Business·6 gün önceAI özeti

US Imposes Tariffs Citing Forced Labor, Experts Call it Trade Pretext

The US has imposed tariffs of 10-12.5% on goods from several countries, including China, Japan, and the EU, citing forced labor practices. Experts view these actions as a pretext for President Trump's 'America-first' trade agenda, with another Section 301 investigation ongoing.

SCMP News

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South Korea's Ruling Party Adopts Bill to Strip Prosecution of Direct Investigation Rights

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Siyaset·6 gün önceAI özeti

South Korea's Ruling Party Adopts Bill to Strip Prosecution of Direct Investigation Rights

South Korea's ruling Democratic Party adopted a revision to the Criminal Procedure Act, making it official party line to strip the prosecution of its direct investigation rights, including supplementary investigations. The party also plans to establish a dedicated team within the serious crimes investigation agency for vulnerable victims, with the bill expected to be voted on next Thursday.

Yonhap News

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