news highlight

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  Samsung SDI cells win two-thirds of Korea's first AI-powered grid ESS project SEOUL, July 10 (AJP) - Batteries made by Samsung SDI have been selected for the majority of South Korea's first government-backed program to build artificial-intelligence-powered energy storage systems along regional distribution lines. Six of the nine operators chosen for the Ministry of Climate, Energy and Environment's 2026 AI-based ESS deployment project will use Samsung SDI cells, industry sources said Friday. One operator opted for LG Energy Solution cells and two turned to SK On. July 10, 2026
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  Korea, Mongolia expand cooperation in critical minerals, AI, finance SEOUL, July 10 (AJP) - South Korea and Mongolia agreed to expand cooperation in critical minerals, artificial intelligence, renewable energy and healthcare, while strengthening ties in central banking and trade finance. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol held separate meetings Thursday with Mongolian First Deputy Prime Minister and Economy and Development Minister Jadamba Enkhbayar and Finance Minister Zagdjav Mendsaikhan during President Lee Jae Myung&rsquo July 10, 2026
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  Lee's approval rating edges down to 53% SEOUL, July 10 (AJP) - President Lee Jae Myung's approval rating edged down slightly this week after a brief rebound last week. In a survey of more than 1,000 adults nationwide conducted by pollster Gallup Korea earlier this week, 53 percent of respondents gave a positive rating to Lee's job performance, down 1 percentage point from a week earlier. But his disapproval rating also fell 1 percentage point to 35 percent, with 12 percent undecided. Among those who approved of Lee, the mos July 10, 2026
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  SK hynix ADR debut sends KOSPI past 7,500 and boosts Asia SEOUL, July 10 (AJP) - The KOSPI surged past the 7,500 line at Friday's open, hours before SK hynix's American depositary receipts begin trading on the Nasdaq in the largest ADR offering ever brought to the U.S. market. The main index in Seoul jumped 235.48 points, or 3.2 percent, to 7,527.39 in the first minutes of trade. SK hynix rose 3.1 percent to 2,254,000 won ($1,497) and Samsung Electronics gained 3.6 percent to 288,000 won ($191), with the chipmaker's sale of up to roughly July 10, 2026
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  KOSPI's fragile rebound fails to calm jittery investors SEOUL, July 09 (AJP) - South Korean stocks snapped a three-day losing streak on Thursday, closing marginally higher after surrendering most of their early gains in a volatile session that underscored the fragility of investor sentiment. The benchmark KOSPI closed at 7,291.91, up 0.62 percent. The index opened 3.31 percent higher and briefly climbed above the 7,500 level, but the early rally quickly faded after Bahrain and Kuwait sounded warning sirens and Qatar issued emergency security alerts July 9, 2026
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  PPP leader turns to hardline conservatives amid loosening grip within party SEOUL, July 9 (AJP) - Jang Dong-hyuk, the leader of the main opposition People Power Party (PPP) has taken his fight over a ballot shortage in last month's local elections out of Parliament and onto the streets, alarming lawmakers in his own party who fear that the campaign could pull conservatives back toward election fraud conspiracy theories. Jang began a nationwide tour on Wednesday to demand a re-run of the June 3 local elections along with an investigation into the ballot shortage con July 9, 2026
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  Convenience store chain CU opens 600th store in Mongolia SEOUL, July 9 (AJP) - Convenience store chain CU has opened its 600th store in Mongolia, about eight years after entering the market, BGF Retail, which operates CU, said on Thursday. The 600th store, located in Bulgan province about 600 kilometers west of Ulaanbaatar, opened on June 26. Spanning about 281 square meters, it targets tourists and long-haul transport drivers. Unlike typical convenience stores, the store offers shower facilities for travelers, following a similar strategy to instal July 9, 2026
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  Hong Myung-bo to testify at National Assembly hearing SEOUL, July 09 (AJP) - Former South Korea head coach Hong Myung-bo issued a new public apology Thursday over the national team's early exit from the 2026 World Cup, saying he would appear before a parliamentary hearing if called and take full responsibility for the result. The statement was released through the Hong Myung-bo Scholarship Foundation, a charity the 57-year-old 2002 World Cup hero himself chairs. It was made public on the day the National Assembly's Culture, Sports and Tou July 9, 2026
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  Korea's top court upholds ex-president's 7-year prison term SEOUL, July 9 (AJP) - Former President Yoon Suk Yeol was sentenced to seven years in prison after the Supreme Court on Thursday found him guilty of obstructing investigators' attempt to arrest him following his botched martial law debacle in December 2024. Thursday's ruling marks the first final verdict among the eight separate trials Yoon is facing over his Dec. 3 declaration of martial law. It came after a lower court sentenced Yoon to five years in prison in January, before an appel July 9, 2026