News Briefing: Today's Top Stories; Jang Yoon-gi Case Investigation Team Leader Referred to Prosecution Under Arrest, "Apologies to the Bereaved Family"

1. What are your thoughts on the current state of our stock market? Many of you likely feel it is like a rollercoaster. Today, July 15, the KOSPI rose by over 7% in three trading days, bolstered by positive momentum from the U.S., and reclaimed the 7,000-point mark. A buy-side sidecar was even triggered. As concerns grow over the extreme volatility in the domestic stock market, an emergency meeting was held to examine the market situation regarding single-stock leveraged ETFs. President Lee Jae-myung instructed financial authorities today during a government ministry briefing to promptly prepare supplementary measures for this issue.

2. President Lee Jae-myung has begun receiving his second round of government ministry briefings since taking office at the Blue House Yeongbingwan, under the theme of "An Irreplaceable Republic of Korea Felt Through Daily Life." On the first day, about 20 public observers attended the briefing, which covered the Ministry of Finance and Economy, the National Tax Service, and the Financial Services Commission. President Lee emphasized, "While we stress reform and innovation, there are too many abnormalities in our society, such as collusion, price manipulation, and tax evasion. We must boldly move toward normalizing these abnormalities."

3. The police special investigation team referred Police Inspector A, the team leader who handled the Jang Yoon-gi case, to the prosecution today under arrest on charges of destruction of evidence. Inspector A is accused of failing to secure key evidence—such as cable ties and real dolls, which indicate plans for sexual crimes—during the investigation of the Jang Yoon-gi case, or instructing others not to secure them. The special investigation team stated that they deeply apologize for the fact that the person in charge of the investigation, who should have uncovered the substantive truth of the case, instead concealed evidence, causing indelible pain to the victim and the bereaved family.

4. The Minimum Wage Commission has decided to set next year's minimum wage at 10,700 won per hour, an increase of 380 won, or 3.7%, from this year. Previously, the labor sector proposed 12,000 won, a 16.3% increase, while the management sector proposed a freeze. After more than 10 rounds of negotiations, the decision was finalized early this morning. With both labor and management expressing disappointment, the new minimum wage will take effect on January 1, 2027, once the Minister of Employment and Labor issues the final notice by August 5.
※ Please note: This article was translated by AI and may contain errors.