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U.S., Iran clash nine days after MOU, testing fragile Hormuz truce
SEOUL, June 27 (AJP) - The United States and Iran exchanged military strikes just nine days after signing a memorandum of understanding to end their war, putting the fragile agreement under its first major test. U.S. Central Command said Friday it carried out airstrikes against Iran in response to a drone attack a day earlier on the Ever Lovely, a Singapore-flagged container ship transiting the Strait of Hormuz.
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U.S. eases Mythos 5 curbs as Korean access remains unclear
SEOUL, June 27 (AJP) - The U.S. government has eased restrictions on Anthropic’s advanced artificial intelligence model Claude Mythos 5, allowing the company to provide access to more than 100 approved companies and organizations. The Commerce Department authorized Anthropic on Friday to make Mythos 5 available to selected “trusted partners,” according to a letter obtained by Reuters. The appr
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Chinese, Russian military aircraft enter KADIZ, prompting fighter jet response
SEOUL, June 27 (AJP) - More than 10 Chinese and Russian military aircraft entered South Korea’s air defense identification zone without prior notice on Saturday, prompting the Air Force to deploy fighter jets, the Joint Chiefs of Staff said. The aircraft entered and exited the Korea Air Defense Identification Zone, or KADIZ, over the East and South seas in sequence for about four hours beginning at around 8:
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Stocks become family business in Korea
SEOUL, June 26 (AJP) - From cradle to grave. That's the extent of the stock craze sweeping South Korea. Active trading accounts have increased by more than 10 million this year.
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Renewables ride the AI power boom, but the grid can't keep up
SEOUL, June 24 (AJP) - Renewables are being fully employed to feed the world's hungry AI data centers as farming Mother Nature is cheap and quick to build. Yet a widening gap between green ambition and grid reality — from Beijing to Naju — is exposing the limits of an energy transition running at full tilt. Global electricity demand from data centers is set to roughly double to about 945 terawatt-hours by 2030 and reach around 1,200 TWh by 2035, the International Energy Agency s
by Kim Dong-young
Korea's new obsession: borrowing to buy stocks, not homes
SEOUL, June 23 (AJP) - South Korea's stock craze has reached a point where borrowing to buy shares is becoming more socially acceptable than borrowing to buy an apartment. The shift reflects a profound change in a country long defined by its obsession with real estate, as millions of Koreans pour into a handful of AI-related stocks in pursuit of rapid wealth creation. Tuesday's selloff offered a reminder of how fragile that enthusiasm can be. The benchmark KOSPI crashed nearly 10 perc
Chipflation after Gulf-flation may keep prices sticky
SEOUL, June 26 (AJP) -The KOSPI ended Friday at 8,411.21, nearly 8 percent below the 9,000 milestone it celebrated just a week earlier. Friday's rout — the second intraday plunge of more than 8 percent this week — cannot be dismissed simply as a long-overdue correction. The Gulf war inflation scare is fading. Oil has retreated toward pre-war levels and the immediate fear of an energy shock has eased. Yet investors are beginning to confront a second, potentially more persistent i
Hormuz or not, Korea's petrochemicals glut is far from over
SEOUL, June 25 (AJP) - South Korea's petrochemical makers, forgotten and forgiven under the silicon windfall, are biding time with their promised capacity cuts still unfinished while the Middle East drags on and the country's single largest petrochemical project prepares to flood the market with fresh supply. Chinese overcapacity has been swamping Asia with cheap basic chemicals, with or without disruption from the Middle East and stranded shipments at the Strait of Hormuz chokepoint.
More ships run by Korean carriers exit Strait of Hormuz, 3 remain
S. Korea slips to seventh in third-place race after Senegal routs Iraq
