SBS News

National Tax Service Cracks Down on "Emperor Residences": Corporate-Owned Luxury Apartments and Condos Used Privately by Owner Families Lim Kwang-hyun, Commissioner of the National Tax Service, posted a message on his social media. SBS Aug 23, 2026 1:43 PM

Domestic Banks' H1 Interest Income Hits Record High of 32 Trillion Won, Though Net Profit Drops South Korean banks' interest income for the first half of this year exceeded 32 trillion won, marking the highest figure ever for a half-year period. SBS Aug 23, 2026 1:30 PM

Ministry of Oceans and Fisheries to Release Record 20,000 Tons of Stockpiled Seafood for Chuseok The Ministry of Oceans and Fisheries announced on August 23 that it will supply 20,000 tons of government-stockpiled seafood to the market ahead of Chuseok next month. SBS Aug 23, 2026 11:18 AM

Fines of Up to 4.5 Million Won for Failing to Report Railroad Workers' Drunkenness... Enforcement Decree Legislative Notice The Ministry of Land, Infrastructure and Transport announced today that it will put forward a partial amendment to the enforcement decree and enforcement rules of the Railway Safety Act containing these measures for legislative notice from the 24th of this month to October 6. SBS Aug 23, 2026 11:14 AM

Hyundai Motor Union Postpones Partial Strike Scheduled for 24th, Set to Resume Wage Negotiations Hyundai Motor management and the union announced today that they will hold their 17th round of negotiations at the Ulsan plant on the 24th. SBS Aug 23, 2026 10:37 AM

National Tax Service Chief Lim Kwang-hyun: 42% of High-End Corporate Homes Are 'Emperor Residences', Highest Valued Over 20 Billion Won National Tax Service Commissioner Lim Kwang-hyun made the findings public today in a post on his X account titled, "Normalizing the abnormal: We will root out the practice of emperor residences." The tax agency conducted a full inspection of 2,639 high-end corporate residences subject to the comprehensive real estate holding tax, which exceed the standard housing size and have an officially assessed public price of over 900 million won. SBS Aug 23, 2026 10:36 AM

KHNP, NSSC: 'No Impact on Nuclear Power Plants' After Magnitude 3.1 Earthquake in Haenam today that "there has been no impact on nuclear power plants." KHNP stated, "All nuclear power plants currently in operation are running normally," adding, "It has been confirmed that the seismic measurement values recorded at these plants are below the seismic warning threshold of 0.01g." The Nuclear Safety and Security Commission also announced that there were no abnormalities concerning the safety of all domestic reactor facilities following the earthquake. SBS Aug 23, 2026 9:40 AM

South Korea's Steel Exports to EU Fall 41% in July Amid New Steel Measures While industry insiders note that the EU's measures alone do not fully explain the drop in exports, they analyze that the policy has had some impact. SBS Aug 23, 2026 9:25 AM

Copper Prices Rise on Supply Shortage Concerns... Related Stocks Trend Upward According to the Korea Exchange and Yonhap Infomax on August 23, the 3-month copper futures contract on the London Metal Exchange closed at 14,215.50 dollars per ton on August 21 . SBS Aug 23, 2026 9:22 AM

Kim Yoon-duk and Oh Se-hoon to Meet Again This Week to Discuss Yongsan Park Housing Supply With clear differences remaining between the two sides regarding the plan to build housing on the main Yongsan Park site, attention is focused on whether they will approach a compromise by prioritizing the development of scattered sites around the park proposed by the Seoul Metropolitan Government. SBS Aug 23, 2026 9:19 AM