Disinformation Eradication Act takes effect July 7, up to 5x damages
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A revised Information and Communications Network Act took effect July 7, imposing up to five times the damages for knowingly spreading disinformation and fines of up to 1 billion won for distributing court-confirmed false information two or more times, Financial News reported. Per Seoul Shinmun's Q&A, YouTubers with 100,000+ subscribers face aggravated liability, while private KakaoTalk messages, simple opinions, and political satire are excluded. Naver and Kakao have prepared responses, but unclear standards have raised concerns about chilling free expression and early confusion.
Samsung Q2 preliminary earnings due July 7, chip 'super week' opens
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Samsung Electronics is set to release its Q2 preliminary earnings on the morning of July 7, Newsis reported. Brokerages forecast revenue in the 170 trillion won range and operating profit of 85–90 trillion won, with the DS division expected to contribute up to 98%. In the same week, SK Hynix will debut on the US Nasdaq via ADR on the 10th under the ticker 'SKHY', making it a semiconductor 'super week.' Investor attention is focused on the two firms that make up over half of KOSPI's market cap, with strong results also expected for parts suppliers on expanding AI investment.
Kim Min-seok declares DP leadership bid in Gwangju on the 6th
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Rep. Kim Min-seok declared his candidacy for the Democratic Party leadership at the Aug. 17 convention in Gwangju on the 6th, becoming the first to throw his hat into the ring, Kyunghyang Shinmun reported. Choosing Gwangju as his first campaign stop is seen as an appeal to Honam sentiment. Competition among pro-Lee candidates including Reps. Jung Chung-rae and Park Chan-dae is expected to intensify, the outlet added.
KOSPI closes at 8,051, defends 8,000 amid 2.7T won in net selling
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On the 6th, KOSPI rose as high as 8,327 intraday but slipped 37.01 points (0.46%) to close at 8,051.33, barely holding the 8,000 line as foreigners sold a net 1.31 trillion won and institutions 1.43 trillion won, Business Korea reported. In the same report, June CPI rose 3.2% — the highest since December 2023 — fueling expectations that the Bank of Korea will raise rates at its July 16 meeting, while the won closed at 1,530.3 per dollar, up 4.7 won from the prior session.
1 in 4 new cars was an EV in H1, Tesla overtakes Hyundai
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Domestic EV sales in the first half reached 198,969 units, more than double the year-earlier figure, Financial News reported. Tesla sold 56,139 units from January to June, beating Hyundai (39,575) by roughly 16,500 units, while China's BYD lifted its market share from 0.7% to 5.9%. With one in four new cars an EV, the gains by imported and Chinese brands stood out, the outlet said.
SBS 'Kim Bujang' hits 21.6% in 4 episodes, first 20% in 2 years
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SBS Friday-Saturday drama 'Kim Bujang' recorded a 21.6% nationwide rating in just four episodes, crossing the 20% mark for the first time in two years since 'Queen of Tears' in 2024, Hankyung reported. The father-revenge action series starring So Ji-sub and Yoon Kyung-ho also lifted production house Fantagio's stock, the outlet added. It has become the talk of weekend television, shaking up the summer drama landscape.
'Toy Story 5' tops box office for 3rd straight weekend, past 2.2M
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According to the integrated ticketing network, the animated film 'Toy Story 5' drew 429,038 viewers last weekend (3rd–5th) to top the box office for a third straight weekend, TV Report reported. Cumulative admissions reached 2,218,501, entering this year's top five, and it beat the Korean film 'Eyes' starring Shin Min-a. Foreign animation continues to lead the summer theater season.
SBS Friday-Saturday drama 'Kim Bujang' hit 21.6% in four episodes, crossing the 20% mark for the first time in two years and shaking up weekend TV.
SBS 'Kim Bujang' hits 21.6% in 4 episodes, a 2-year sensation▾
SBS Friday-Saturday drama 'Kim Bujang' recorded a 21.6% nationwide rating in four episodes, crossing 20% for the first time since 'Queen of Tears' in 2024, Hankyung reported. The So Ji-sub and Yoon Kyung-ho father-revenge action series also lifted production house Fantagio's stock.
A 20s contract radiologic technologist was found dead in Gunsan, North Jeolla, and police are investigating amid workplace harassment allegations.
20s contract radiologic tech found dead, police probe harassment▾
Per Money Today (citing News1), a 20s contract radiologic technologist, surnamed A, was found dead in a flowerbed at a Gunsan apartment on the 29th of last month. The bereaved family said the deceased had complained of workplace harassment; the hospital hired an outside labor attorney and police are investigating the circumstances.
June CPI rose 3.2%, the highest since December 2023, strengthening expectations of a Bank of Korea rate hike in July.
June CPI at 3.2% high, BOK July rate-hike expectations strengthen▾
Per Business Korea, June CPI rose 3.2%, the highest since December 2023, fueling expectations that the Bank of Korea will raise rates at its July 16 meeting. The won closed at 1,530.3 per dollar, up 4.7 won from the prior session.
KOSPI slipped to 8,051 on 2.7 trillion won of foreign and institutional selling, barely holding 8,000, while Samsung reports Q2 preliminary earnings on the 7th.
KOSPI closes at 8,051, holds 8,000 amid 2.7T won in net selling▾
Per Business Korea, KOSPI rose as high as 8,327 intraday on the 6th but slipped 37.01 points (0.46%) to close at 8,051.33 as foreigners sold a net 1.31 trillion won and institutions 1.43 trillion won, holding the 8,000 line.
Samsung reports Q2 preliminary earnings today, 85-90T won op profit seen▾
Per Newsis, Samsung Electronics is set to release Q2 preliminary earnings around 8:40 a.m. on the 7th. Brokerages forecast revenue in the 170 trillion won range and operating profit of 85–90 trillion won, with the DS division contributing up to 98%. Actual figures are not yet confirmed.
(G)I-DLE returned with their first mini album in six months, while Lim Young-woong extended his Idol Chart record to 275 straight weeks at No. 1.
(G)I-DLE drops 9th mini album 'We made', title 'Gimme Dat Love'▾
Per Etoday, (G)I-DLE held a showcase for their 9th mini album 'We made' at YES24 Live Hall in Seoul on the 6th, unveiling the title track 'Gimme Dat Love.' It is their first release in six months since 'Mono' in January, and Soyeon called it a 'fight-fire-with-fire summer song.'
Per Sports Kyunghyang, Lim Young-woong won the Idol Chart rating ranking for the June 29–July 5 period with 314,061 votes, marking 275 consecutive weeks at No. 1. He also topped the 'likes' category with 32,399 and has a stadium concert coming in September.
A semiconductor 'super week' combining Samsung's Q2 earnings and SK Hynix's Nasdaq listing drew intense industry and investor attention.
Chip duo 'super week': Samsung Q2 earnings, SK Hynix Nasdaq debut▾
Per Newsis, Samsung Electronics reports Q2 preliminary earnings on the morning of the 7th and SK Hynix debuts on the US Nasdaq via ADR on the 10th. Attention is focused on the two firms making up over half of KOSPI's market cap, with strong results also expected for parts suppliers on expanding AI investment.
Per TokenPost, as of 0:07 on the 7th, Bitcoin traded down 1.07% at $62,089 and Ethereum down 1.12% at $1,750. Major altcoins were also weak, but stablecoin volume (+34.6%) and derivatives volume (+48.4%) rose sharply, signaling potential volatility.
'Toy Story 5' topped the weekend box office for a third straight week, surpassing 2.2 million cumulative admissions and beating Shin Min-a's 'Eyes.'
'Toy Story 5' tops weekend box office 3rd week, past 2.2M admissions▾
Per TV Report, the integrated ticketing network showed 'Toy Story 5' drew 429,038 viewers last weekend (3rd–5th) to top the box office for a third straight weekend. Cumulative admissions reached 2,218,501, entering this year's top five, and it beat Shin Min-a's 'Eyes.'
DAY6's Young K makes his first solo return in 2 years and 10 months, previewing his 2nd full album 'YOUNGEST' on July 27.
DAY6's Young K previews solo return with 2nd album 'YOUNGEST' on 27th▾
Per Money Today, DAY6's Young K will release his 2nd full album 'YOUNGEST' on July 27, marking his first solo return in about 2 years and 10 months since 'Letters with notes' in September 2023. It is the all-round musician's second full-length work and is drawing anticipation.
Rep. Kim Min-seok declared his Democratic Party leadership bid in Gwangju, opening the race for the Aug. 17 convention.
Kim Min-seok declares leadership bid in Gwangju, DP race starts▾
Per Kyunghyang Shinmun, Rep. Kim Min-seok declared his candidacy for the DP leadership at the Aug. 17 convention in Gwangju on the 6th, the first to enter the race. Choosing Gwangju appeals to Honam sentiment, and competition with pro-Lee candidates such as Reps. Jung Chung-rae and Park Chan-dae is set to intensify.
The UAE's June crude output topped 3.8 million barrels a day, approaching a record high after leaving OPEC.
UAE crude output nears record high after leaving OPEC▾
Per TokenPost, the UAE's June crude output exceeded 3.8 million barrels a day. The UAE has accelerated production expansion since leaving OPEC, and the supply increase could affect global oil prices and the inflation outlook, making it a market variable.
One in four new cars in H1 was an EV, with Tesla overtaking Hyundai and China's BYD sharply lifting its market share.
H1 EV sales double: Tesla overtakes Hyundai, BYD surges▾
Per Financial News, domestic EV sales in the first half reached 198,969 units, more than double the year-earlier figure. Tesla sold 56,139 units, beating Hyundai (39,575), while BYD lifted its share from 0.7% to 5.9%. One in four new cars was an EV.
The Disinformation Eradication Act took effect July 7, but vague standards have raised concerns about chilling free expression and early confusion.
'Disinformation Eradication Act' effective July 7, vague standards▾
Per Financial News, the revised Network Act took effect July 7, imposing up to 5x damages for knowingly spreading disinformation and fines up to 1 billion won for distributing confirmed false info two or more times. Naver and Kakao have prepared, but unclear standards raised early-confusion concerns.
From today, up to 5x damages for false info; private messages excluded▾
Per Seoul Shinmun's Q&A, the 'fake news law' regulates disinformation like deepfakes and hate speech, with YouTubers over 100,000 subscribers facing aggravated liability. Platforms make an initial self-determination on falsity, and private KakaoTalk messages, simple opinions, and political satire are excluded.