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The Latest Breaking News from Seoul

$1 Trillion SK Hynix Storms Wall Street With Record-Shattering $26.5 Billion Nasdaq Debut

SK Hynix, a leading South Korean memory-chip maker, raised $26.5B in the largest-ever US share sale by a foreign firm, as its market value nears $1 trillion.

International Business Times UK

Global Market: SK Hynix's Nasdaq ADR debut raises $26.5 billion amid AI chip boom

South Korean chipmaker SK Hynix successfully raised $26.5 billion through its ADR offering. This significant fundraising highlights robust global investor interest in AI semiconductor suppliers. The company is a leading provider of essential high-bandwidth memory chips for AI processors.

The Economic Times

Five Indian Cities Where a Food Walk on the Streets Tells You More Than Any Museum

Lucknow: The Tehzeeb Is in the Serving, Not the DishYou don't understand Lucknow by reading about the nawabs. You understand it by watching the man at the tunde kabab counter in Aminabad hand you your parcel with both hands, with a slight incline of the head, as if the transaction…

Times Life

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Wall Street suffers major losses as AI stocks tumble and oil prices jump

The market's unease originated in Asia, where South Korean tech giant Samsung Electronics saw its shares tumble 6.9% in Seoul

The Independent UK

South Korean law targeting 'fake news' takes effect as journalists' groups raise concerns

South Korea saw a surge in online misinformation following the botched 2024 martial law attempt, including unsubstantiated allegations of Chinese interference in the electoral system.

Euronews

Seoul dives on tough day for Asia as Samsung fails to ease tech woes

Seoul stocks led Asian market losses as Samsung's shares tumbled significantly. Investors remained cautious despite strong earnings and AI-driven demand for memory chips. Wall Street indexes reopened with gains, easing worries over a tech sector retreat. Oil prices climbed over one percent after an incident off Oman's coast. Traders await…

The Economic Times

Samsung expects 1,800% operating profit leap on AI boom

SEOUL - South Korean technology giant Samsung Electronics forecast Tuesday a massive 19-fold jump in second-quarter operating profit from a year earlier, buoyed by sustained AI-driven demand for memory chips.

Bangkok Post

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Global Market: South Korea launches 24-hour onshore dollar-won trading to boost global market appeal

South Korea has launched a 24-hour onshore dollar-won trading system, a significant move to boost currency accessibility and global appeal. This extended trading window aims to attract foreign investors and improve market liquidity, aligning with Seoul's ambition for developed market status in global indices. The reform is expected to enhance…

The Economic Times

3,000% bonuses but a growing wealth divide: South Korea grapples with its AI chip boom

Powered by chipmakers Samsung Electronics and SK Hynix, South Korea is seeing a surge in wealth, but there are questions over who gets to share in the profits

The Guardian - AU

South Korea disputes US congressional report claiming discrimination against Seattle-based Coupang

South Korea’s government has disputed a U.S. congressional report accusing Seoul of discriminating against Coupang

The Independent UK

South Korean fans boo World Cup squad arriving home after early exit

Crowds booed South Korea’s World Cup team as they returned to Seoul on Tuesday (30 June) following their early exit from the tournament.

The Independent UK

Korea taps Samsung, SK Hynix in $576 billion AI-chip drive to cement global leadership

The plan, anchored by Samsung Electronics and SK Hynix, marks Lee's boldest push yet to align South Korea's AI and chip ambitions with his pledge to narrow domestic regional disparities and revive economies beyond the Seoul metropolitan area.

The Economic Times

South Korea announces $1 trillion semiconductor and AI ‘megaprojects’ plan

Samsung stocks drop by four per cent despite major AI and semiconductor investment

The Independent UK

South Korea to invest nearly $1.2 trillion in chips, AI data centres

SEOUL - South Korea will invest nearly US$1.2 trillion -- equivalent to more than two-thirds of its GDP -- in a new chip-building hub and AI data centres over several years, as it seeks to profit from soaring demand while developing previously neglected regions.

Bangkok Post

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Bangkok Post

South Korea president apologises after World Cup group-stage exit

SEOUL — South Korean President Lee Jae Myung condemned the country's premature World Cup exit on Sunday, pointing the finger at "incompetent people" and apologising to the nation.

The Economic Times

South Korea, Japan reaffirm denuclearisation goal, closer defence ties

South Korea and Japan are strengthening security ties, reaffirming their commitment to denuclearizing the Korean peninsula. Defence ministers agreed to revive joint search-and-rescue drills and enhance cooperation with the US against North Korea's nuclear ambitions and its growing military links with Russia. This marks a significant step in bilateral relations,…

The Times of India

South Korea scrambles fighter jets as Chinese, Russian warplanes enter air defence zone

South Korea deployed fighter jets on Saturday after over 10 Chinese and Russian military aircraft entered its air defence identification zone (ADIZ), prompting the military to take precautionary measures amid heightened regional tensions, Seoul said.

International Business Times UK

Samsung Eyes $648 Billion Mega Investment to Supercharge South Korea's AI and Chip Ambitions

Samsung plans to invest 1,000 trillion won in South Korea over the next decade, focusing on AI and semiconductor manufacturing, aiming to boost regional development beyond Seoul.

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The Independent UK

South Korea’s former first lady sent to prison for taking luxury gifts as bribes

Seoul court says Kim Keon Hee ‘received without any hesitation those bribes which ordinary people would hardly encounter during their lives’

Bangkok Post

Former South Korean first lady given 7-year jail term for bribery

SEOUL - South Korea's former first lady Kim Keon Hee was sentenced on Friday to seven years in jail ⁠for receiving bribes, after a court found her guilty of accepting luxury items such as jewellery and a Dior handbag in exchange for political favours.

The Guardian - AU

South Korea to train half a million military personnel to become ‘drone warriors’

All branches of the military will be taught how to use technology that has become a ‘game changer on the battlefield’, says defence minister

Bangkok Post

Hyundai Motor workers back strike for big bonuses

SEOUL - Workers at the South Korean automaker Hyundai Motor have voted to approve strike action after wage talks stalled, as employees in multiple sectors press for better labour conditions.

The Economic Times

Jaishankar, South Korean FM discuss deepening strategic partnership in Seoul

India's External Affairs Minister S Jaishankar met his South Korean counterpart Cho Hyun in Seoul to bolster bilateral ties, with discussions focusing on trade, investment, finance and cooperation across various sectors including defence, technology and clean energy.

Bangkok Post

South Korea's military says detains North Korean soldier near border

SEOUL — South Korea's military detained ⁠a North Korean soldier near ‌the central section of the inter-Korean border ⁠on Tuesday night, Seoul's Joint Chiefs of Staff (JCS) said on Wednesday.

Barchart

‘Black Tuesday’ in South Korea Is a Geopolitical Warning for an Overheated Wall Street

The dramatic 10% collapse of South Korea’s Kospi Index and the resulting slide on Wall Street cannot be understood through overvalued AI charts alone. Here's what's actually going on.

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