KRX Considers Postponing Extension of Stock Trading Hours Amid Strong Backlash

▷ The Korea Exchange (KRX) is reviewing a plan to delay the extension of stock trading hours, which was originally scheduled for June 29, following significant opposition from the financial industry and labor unions.

▷ Member firms raised concerns that it is difficult to complete IT system development by the deadline with limited personnel, noting that infrastructure costs would outweigh the potential profits from extended hours.

▷ Labor groups have also launched protests, arguing that the extension could lead to extreme market volatility due to thin order books and worsen working conditions for employees.

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Seoul Diesel Prices Surpass Gasoline as Government Considers Price Caps

▷ As diesel prices in Seoul surpassed gasoline prices due to Middle East instability, the South Korean government is considering the “Maximum Selling Price Designation” to curb inflation.

▷ President Lee Jae-myung (이재명) instructed officials to swiftly set realistic price caps by region and fuel type to prevent excessive price hikes and protect the livelihood of the people.

▷ Vice Prime Minister Koo Yun-cheol (구윤철) warned that all administrative measures would be used against unfair profiteering, though concerns remain that price controls could lead to supply shortages.

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Court Adopts Former Unification Church Leader as Witness in Rep. Kweon Seong-dong’s Appeal

▷ The Seoul High Court has accepted the request of Representative Kweon Seong-dong (권성동) to call Yoon Young-ho (윤영호), former world headquarters leader of the Unification Church, as a witness in his political fund law violation case.

▷ Representative Kweon, who was found guilty in the first trial, continues to deny the allegations of receiving 100 million KRW, arguing that the claim of accepting a shopping bag of cash from a stranger is illogical and lacks evidence.

▷ The court also designated Hak Ja Han (한학자), the leader of the Unification Church, and a financial staff member as witnesses, while scheduled the next hearing for the afternoon of the 19th.

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US Military Neutralizes Iranian Naval Power by Sinking Over 20 Vessels

▷ The US Central Command announced that it has sunk more than 20 Iranian regime vessels, including a Soleimani-class warship, during the “Epic Fury” operation.

▷ Dan Caine (댄 케인), Chairman of the Joint Chiefs of Staff, and Pete Hegseth (피트 헤그세스), Secretary of Defense, confirmed that major Iranian naval forces in the operational area have been effectively disabled.

▷ The military also marked the first-ever combat deployment of the PrSM (Prism), a next-generation long-range precision-strike missile, demonstrating its superior strike capabilities.

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Special Prosecutor Indicts Coupang and Prosecutors but Fails to Resolve Bank Seal Mystery

▷ The Special Prosecutor team led by Ahn Kwon-seop (안권섭) concluded its 90-day probe by indicting Coupang executives for failing to pay severance and senior prosecutors for abusing their power to drop the initial investigation.

▷ Regarding the alleged destruction of bank seals at the Seoul Southern District Prosecutors’ Office, the team concluded it was an administrative error rather than a high-level cover-up due to lack of evidence.

▷ The team cited time constraints and uncooperative witnesses as obstacles to clarifying all suspicions, choosing to transfer the remaining cases back to the prosecution while requesting disciplinary action for negligent evidence management.

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South Koreans Including Volleyball Coach Lee Do-hee Return Home from Iran Amid High Tensions

▷ A group of South Koreans, including Lee Do-hee (이도희), the head coach of the Iranian women’s national volleyball team, arrived safely at Incheon International Airport on August 5th.

▷ More than 20 residents evacuated Tehran via land through Turkmenistan and Istanbul to avoid the escalating military tensions involving Iran, the U.S., and Israel.

▷ Coach Lee (이도희) expressed her gratitude to the South Korean government for their swift assistance and stated her intention to return to Iran once the situation stabilizes.

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Drunk Driver Attempts to Bribe Police and Rising Controversies in Self-Driving Tech

▷ A driver who attempted to bribe a police officer with 2.9 million won while being investigated for drunk driving was sent to the prosecution on charges of bribery and DUI.

▷ In Texas, a Waymo (웨이모) autonomous taxi drew criticism after blocking an ambulance’s path during an emergency response, highlighting ongoing safety concerns regarding self-driving technology.

▷ Former public official Kim Seon-tae (김선태) has achieved explosive success with his new personal YouTube channel, reaching nearly one million subscribers in just four days after leaving his position to pursue higher earnings.

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Man in His 30s Arrested for Confining Ex-Lover After Breakup Notice

▷ Gangneung Police Station arrested A (A씨) in his 30s for confining his former partner B (B씨) in a motel for three to four hours after she ended their relationship.

▷ The suspect is also accused of taking the victim’s cellphone to prevent her from contacting others during the confinement on August 3rd.

▷ Police apprehended the suspect at the scene following a report from the victim’s acquaintance and are preparing to send the case to the prosecution after further investigation.

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Court Suspends Disciplinary Action Against Rep. Bae Hyun-jin

▷ The court granted an injunction filed by Rep. Bae Hyun-jin (배현진) to suspend her one-year party membership suspension, allowing her to resume her role as the Seoul City Party Chair.

▷ The judge ruled that the People Power Party leadership, led by Jang Dong-hyuk (장동혁), committed a serious error by abusing its discretionary power and failing to conduct a thorough review of the disciplinary grounds.

▷ Following the ruling, Han Dong-hoon (한동훈) and his supporters welcomed the decision, criticizing the current leadership’s disciplinary actions as “tyranny” and an attempt to purge political rivals.

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Court Suspends Disciplinary Action Against Rep. Bae Hyun-jin

▷ The Seoul Southern District Court granted an injunction filed by Rep. Bae Hyun-jin (배현진) to suspend the “one-year suspension of party membership” imposed by her party’s ethics committee.

▷ This ruling allows Rep. Bae to immediately recover her party rights and return to her position as the head of the Seoul City Chapter, which holds significant authority over candidate nominations.

▷ The court indicated that the validity of the disciplinary grounds, specifically the alleged violation of child rights through social media posts, needs to be further examined in the main lawsuit.

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