U.S.-Iran Tensions Rattle Asian Markets as Oil Surges Past $100 
China's Trade Surplus Shrinks Sharply in March Amid AI Import Surge and Export Slowdown 
Bank of Korea Governor Nominee Warns of Action if Korean Won Weakens Further 
Anthropic's Mythos AI Model Sparks Emergency Cybersecurity Meeting With Top U.S. Bank CEOs 
Volkswagen Q1 2026 Sales Decline Amid China and U.S. Market Pressures 
NIO ES9 SUV Launch Sends HK Shares Down 7% Despite Bold Pricing Strategy 
Amazon in Advanced Talks to Acquire Globalstar in Starlink Rivalry Move 
Dollar Holds Steady Amid U.S.-Iran Tensions and BOJ Rate Hike Uncertainty 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
Qantas Raises Fuel Cost Forecast Amid Middle East Oil Crisis 
SK Hynix Shares Hit Record High Amid AI Memory Demand Surge 
BCA Research Warns U.S.-Iran Ceasefire Could Collapse, Maintains Cautious Equity Outlook 
Asia FX Weekly Gains Hold Amid U.S. Inflation Data and Iran Ceasefire Uncertainty 
Oil Prices Drop Amid U.S. Blockade on Iran and Ceasefire Uncertainty 
MATCH Act: How New U.S. Chip Legislation Could Freeze China's Semiconductor Ambitions 
Chinese Cars in Europe: Consumer Trust Is Shifting Fast 
TSMC Posts Record Q1 2026 Profits Driven by Surging AI Chip Demand 
Starbucks Korea will now allow its customers to return the Summer Carry Bag it previously gave away due to the reports it contains formaldehyde, a carcinogenic and highly toxic organic compound.
On Monday, Starbucks Korea announced that customers who would like to return the controversial bag may do so. The coffee chain will also treat those who will return the merchandise with three free drinks. The coupons for the freebie will be given after the item is given back.
As per The Korea Times, while the Korean unit of the coffee chain decided to compensate the customers for the giveaway bags with free beverages, it is not yet confirmed if the Summer Carry Bags really contain toxic materials. It was noted that amid the testing, it is still too early to say if the formaldehyde chemical is really present in the items.
"We apologize for causing concerns to our customers over this incident," an official of Starbucks Korea said in a statement. "We are still checking with our supplier concerning the allegation that formaldehyde was detected in our Summer Carry Bag item.
The official further stated, “Separately, we are also conducting our own inspection through an accredited outside agency. The result will likely come out in a week or so but right now, no violation has been found of the current law, though we are still looking into a specific cause that alerted us to the issue."
The issue arose after a customer who claimed to be working for the local research firm, FITI Testing & Research Institute, said on July 22 that carcinogen material was found in Starbucks Summer Carry Bag. The person said this was detected during a test, and the result was posted anonymously on the Blind social media platform.
The research company subsequently issued a statement regarding the anonymous post and said that the claim is not an official statement coming from the FITI Testing & Research Institute, which specializes in comprehensive testing of textile fashion, biology units, and consumer goods.
The Starbucks Summer Carry Bag was given as a freebie for purchases of 17 Starbucks beverages between May and July 11. Finally, Korea Joongang Daily reported that SCK Company, which operates Starbucks Korea, revealed it is in talks with the firm that supplied the bags to them to determine if formaldehyde was applied to make the bags.
