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UAE sends aircraft for early Cheongung-II delivery SEOUL, June 12 (AJP) - The United Arab Emirates has sent military transport aircraft to South Korea to secure early delivery of Korean-made Cheongung-II missile defense systems, as the Middle East war disrupts key maritime routes, defense sources said Friday. According to military and defense industry sources, the UAE has been dispatching several C-17 transport aircraft to an air base in Daegu since earlier this week to carry Cheongung-II batteries and interceptor missiles. One C-17 aircraft was seen parked on the runway at the Daegu air base on Friday. A total of eight UAE transport aircraft are expected to be used for the shipment, according to sources. Cheongung-II batteries and interceptor missiles are normally transported to the UAE by sea. But the maritime route has been disrupted as the Strait of Hormuz has been effectively blocked following the outbreak of the Iran war, prompting Abu Dhabi to use air transport instead. The UAE, which urgently needs to secure the missile defense system, is believed to have sent its own Air Force transport aircraft to bring the batteries and interceptors directly from South Korea. A Cheongung-II battery consists of four launcher vehicles, each equipped with eight launch tubes, along with a multifunction radar and an engagement control center, and it is being delivered this time is expected to arrive about six months earlier than the original delivery schedule. It is the first time in about three months that UAE transport aircraft have been spotted at the Daegu air base. The UAE signed a contract in 2022 with South Korea’s LIG Defense & Aerospace, Hanwha Systems and Hanwha Aerospace to purchase 10 Cheongung-II batteries. Two batteries have so far been deployed for operational use. When Iran launched missile attacks toward neighboring countries after being hit by U.S. and Israeli strikes, Cheongung-II systems deployed in the UAE were reportedly activated alongside other air defense systems, including the U.S.-made Patriot and Israel’s Arrow, to intercept Iranian missiles. Cheongung-II, also known as M-SAM II, is a medium-range surface-to-air missile system designed to intercept incoming ballistic missiles and aircraft. The system is considered one of South Korea’s key defense export items in the Middle East. 2026-06-12 17:32:09 -
Won, bonds rally on U.S.-Iran peace hopes SEOUL, June 12 (AJP) - The South Korean won and government bonds strengthened sharply Friday as hopes for an end to the U.S.-Iran conflict eased pressure from oil prices, the dollar and foreign equity outflows. The won-dollar exchange rate closed at 1,519.8 won, down 9.1 won from the previous session, in Seoul’s foreign exchange market. The rate opened 10.9 won lower at 1,518.0 won before trimming part of its decline, but still ended in the 1,510-won range. The move came as investors priced in a possible easing of geopolitical tensions in the Middle East. U.S. President Donald Trump said he had canceled planned strikes on Iran and suggested that talks to end the conflict were in their final stage. The return of foreign investors to Korean equities also helped the won. Foreign investors bought a net 2.1 trillion won worth of shares on the main KOSPI market, turning net buyers for the first time in 25 trading sessions. The shift eased one of the main sources of recent pressure on the Korean currency, as sustained foreign selling of local stocks had added to dollar demand and weighed on the won. The bond market also strengthened sharply. The yield on the three-year government bond fell 9.6 basis points to 3.808 percent, while the 10-year yield dropped 10.5 basis points to 4.195 percent. The declines were the steepest since April 8, when the three-year government bond yield fell 13.6 basis points to 3.315 percent and the 10-year yield dropped 12.6 basis points to 3.628 percent, as hopes for a U.S.-Iran ceasefire combined with foreign buying of Korean bonds following the start of Korea’s World Government Bond Index (WGBI) inclusion. Market reports cited lower oil prices and a decline in U.S. Treasury yields as factors behind Friday’s drop in Korean bond yields. During the session, they sold a net 4,017 contracts of three-year government bond futures while buying a net 3,436 contracts of 10-year government bond futures. 2026-06-12 17:31:45 -
World Cup 26: Koreans ride emotional journey during the first match SEOUL, June 12 (AJP) -The thrill before kickoff Thousands of supporters dressed in red packed Seoul's Gwanghwamun Square on Friday morning, creating a sea of national flags and cheering sticks as South Korea opened its 2026 FIFA World Cup campaign against the Czechia. Office workers on leave, families with children and foreign visitors gathered beneath giant screens, united by anticipation and hope. The nail-biting first half As the match settled into a tense, scoreless opening half, emotions fluctuated with every attack. Fans leaned forward in expectation, erupting at every glimpse of a scoring chance before sinking back into anxious silence. The square held its breath as opportunities came and went, with tension building under the summer sun. Shock The mood changed instantly when the Czechia broke the deadlock early in the second half. Groans rippled through the crowd. Some supporters covered their faces in disbelief while others stared silently at the screens, struggling to process the setback. Relief Hope returned eight minutes later when Hwang In-beom calmly slotted home the equalizer. The square erupted in applause and cheers as supporters jumped from their seats, celebrating the goal that breathed new life into South Korea's World Cup opener. Joy The atmosphere intensified as South Korea pushed forward in search of a winner. Chants from the Red Devils echoed across the square, and supporters waved flags with renewed confidence as momentum swung decisively in the Taegeuk Warriors' favor. Euphoria When Oh Hyeon-gyu scored the winning goal to complete South Korea's 2-1 comeback, Gwanghwamun Square exploded in celebration. Strangers embraced, families danced and friends exchanged high-fives as a wave of pure joy swept through the crowd. Long after the final whistle, supporters remained in the square taking photos and reliving a memorable victory — South Korea's first World Cup opening-match win since 2010. Some headed back the office and luckier ones went straight to pubs for the World Cup chimaek – chicken and beer mix. One team, one moment For a brief moment, everyone at Gwanghwamun Square became part of the same team. Beneath a sea of red shirts and fluttering flags, thousands of supporters shared the exhilaration of a comeback victory that will be remembered as one of the defining scenes of South Korea's 2026 World Cup journey. 2026-06-12 17:30:52 -
Paris Baguette Expands Brand Experience Strategy with Unique Store in Jeju Jeju is gaining attention as a hub for brand experiences, moving beyond its status as a mere travel destination. Leading the charge are Paris Baguette, Nau Cafe, and Innisfree, which have introduced concept stores exclusive to Jeju, aligning with the local economy trend. According to industry reports on June 12, Jeju is recognized for its steady influx of visitors and extended stay durations, making it an ideal location for experience-centered consumption. The rise of a photo-sharing culture, particularly among younger generations, has made stores that offer unique experiences increasingly popular. The rarity of being able to experience something "only in Jeju" provides brands with a distinct marketing advantage. At the forefront of this trend is the Paris Baguette Jeju Donghwa Village store, which exemplifies Chairman Heo Young-in's strategy of enhancing brand experiences through regionally specialized concept stores. Opened last year in the Songdang Donghwa Village area of eastern Jeju, this store captures the natural beauty and mythology of the region. Its interior reflects Jeju's natural elements, featuring volcanic rock and wood, with an open layout centered around large windows that create a relaxed atmosphere. The Paris Baguette Jeju Donghwa Village store is a standalone building with 101 seats. It emphasizes a nature-friendly design with abundant greenery and photo opportunities, transforming it into a space where customers can linger rather than just a place to buy bread. The menu also actively incorporates local economy themes. Notable items include the "Omegi Rice Cake Stuffed Bread," which features a whole Omegi rice cake, the "Sea Scented Focaccia" made with olives and seaweed, and the "Jeju Mongsaeng Sandwich," inspired by Jeju matcha and the local horse character. Previously, the "Jeju Heart Sandwich," launched exclusively at Jeju Airport, became a must-have souvenir, showcasing the success of Chairman Heo's regionally tailored strategy. Nau Cafe Jeju, operated by Black Yak Group, is another prime example of a Jeju-specific store. It features architectural designs that harmonize with Jeju's natural scenery and offers food menus made with local ingredients, along with regionally limited products and "Nau Home" experiences, establishing itself as a must-visit location for tourists. Innisfree Jeju House is also noted for combining brand philosophy with local characteristics. Launched in 2013, it offers a space for a cafe, store, and experiences, creating a precedent for expressing the brand's worldview through its environment. With a green tea field right in front, the structure integrates Jeju's ingredients and naturalistic concepts, making it a popular destination for foreign tourists, often described as a place that demands half a day of a Jeju trip. An industry insider stated, "Jeju is establishing itself as a space that can maximize brand experiences beyond being just a tourist destination. For companies, the ability to secure both local characteristics and rarity makes the strategy of specialized stores in Jeju likely to become more active in the future." 2026-06-12 17:18:00 -
BTS releases 'Come Over' as part of 2026 FESTA SEOUL, June 12 (AJP) - K-pop supergroup BTS on Friday released "Come Over," a track previously available only on the deluxe vinyl edition of its fifth studio album, "ARIRANG," BigHit Music said. The release is part of 2026 BTS FESTA, the group's annual celebration held around its June 13 debut anniversary. "Come Over" was included only on the deluxe LP version of "ARIRANG," which came out on April 3. Suga produced the track, with RM and J-Hope also credited on the song. BigHit Music described it as a pop track with the scale of a stadium anthem, driven by layered synthesizers and expansive vocals. According to the label, the song is about finding one's way back to "you" even in moments of uncertainty. The label said the message is addressed to ARMY, the group's fanbase. BTS will also released a latest LP edition of "ARIRANG" on Friday. The "613 Limited Edition Picture Disc Vinyl" including 16 tracks, among them the original album songs and bonus tracks such as "Voice Message: Love Song" and the Korean-language version of "NORMAL." During this year's FESTA, the group has released a series of anniversary content, including a family photo, a performance video for "Hooligan" and a new episode of "Run BTS 2.0," its long-running variety web series. BTS will hold two concerts at Busan Asiad Main Stadium on Friday and Saturday as part of its "ARIRANG" world tour. Saturday marks the group's 13th debut anniversary. Busan, South Korea's second-largest city, is the hometown of members Jungkook and Jimin. The group is also set to release the music video for "Merry Go Round," another track from "ARIRANG," on Spotify on June 19. 2026-06-12 17:14:46 -
South Korea's President Praises National Soccer Team After Comeback Win Against Czech Republic Lee Jae-myung, President of South Korea, expressed his joy on June 12 over the national soccer team's victory against the Czech Republic in their opening match of the 2026 FIFA North and Central America World Cup. He stated, "Having made a strong start, I hope the team continues to play confidently and showcases the spirit of Korean soccer in the remaining matches." In a post on X (formerly Twitter), President Lee remarked, "The national soccer team achieved a valuable victory against the Czech Republic." He praised the players for maintaining focus and turning the game around despite the challenging conditions at an altitude of over 1,500 meters, saying, "The moment the winning goal was scored, the entire nation rejoiced together." The president extended his warm applause to the proud Taeguk Warriors, as well as the coaching staff, adding, "All of our citizens are supporters of the players. We will cheer you on with a united spirit." Meanwhile, the South Korean national soccer team secured a comeback victory against the Czech Republic, winning 2-1 in their first group stage match of the World Cup held at the Estadio Guadalajara in Mexico. 2026-06-12 17:12:00 -
Hyundai Rotem Executives Purchase $1.6 Million in Company Stock to Support Future Growth Hyundai Rotem announced on June 12 that 37 executives, including CEO Lee Yong-bae, have purchased company shares. A company representative stated that the stock purchase aims to practice responsible management for the company's future growth and to enhance shareholder value by securing new growth engines in its core business areas of defense, rail, and plants. The representative emphasized that the executives voluntarily used personal funds for the purchase. The total number of shares acquired was 8,683, amounting to approximately 1.6 billion won (about $1.6 million). This marks the first time in a decade that the management has collectively bought shares since 2016, when they sought to convey their commitment to stabilizing the stock price amid declining performance. However, this recent purchase is not due to poor performance but rather a proactive step towards future growth. Hyundai Rotem has established a solid foundation for long-term growth in both its Defense Solutions and Rail Solutions divisions. Last year, the company achieved an operating profit of 1 trillion won for the first time in its history. Following the commencement of overseas exports of the K2 tank in 2023, revenue and operating profit have grown at an average annual rate of 27.6% and 118.7%, respectively, over the past two years. As of the first quarter of this year, the company boasts a robust order backlog nearing 30 trillion won. Hyundai Rotem's Defense Solutions division is exploring future growth opportunities in robotics and aerospace. The company plans to enhance unmanned technology for both manned and unmanned weapon systems and robots through Physical AI technology to adapt to future battlefield environments. Additionally, as the private sector transitions into a 'New Space' era, Hyundai Rotem is focusing on securing leadership in next-generation aerospace technologies. The company is developing methane engines for reusable space launch vehicles and guided weapon products to strengthen its aerospace capabilities. To support these initiatives, Hyundai Rotem plans to invest over 1.8 trillion won (approximately $1.8 billion) in research and development, future business ventures, and facility investments by 2028. The company representative stated, "We will enhance shareholder value through bold and proactive management activities to respond to changes in future business." * This article has been translated by AI. 2026-06-12 17:06:00 -
Hyundai, Kia Target North American Market with $100 Billion World Cup Strategy The competition among companies like Hyundai and Kia Motors, Samsung Electronics, and LG Electronics to capitalize on the North American World Cup is heating up. Hyundai and Kia, the only global automakers serving as official partners of FIFA, will support the tournament with a record 1,500 vehicles, including the humanoid robot 'Atlas.' Although Samsung and LG are not official sponsors, they plan to launch significant appliance discount promotions targeting home viewers as the tournament begins. This World Cup marks the first time it will be held in three countries: the United States, Canada, and Mexico. The number of participating teams has increased to 48, a 50% rise from the previous 32, and the total number of matches will be 104, up 62% from the prior 64. Newcomers like Uzbekistan and Jordan will make their World Cup debuts. A Swiss investment bank estimates the global economic impact of this record-setting North American World Cup at $80 billion. ◆ North American Market Opens... Hyundai and Kia Expect $20 Billion Boost from World Cup As the official mobility partner for FIFA World Cup 2026™, Hyundai and Kia announced on June 11 that they will provide a total of 1,500 vehicles, including 994 passenger cars and 506 buses, to the World Cup organizing committee. The fleet will consist of popular internal combustion and hybrid models such as the Palisade, Santa Fe, Tucson, Kona, Avante, and Creta, supporting national teams, officials, staff, and media across 16 cities in the U.S., Canada, and Mexico. Hyundai plans to showcase its vision as a mobility company by introducing four Spot robots from Boston Dynamics at the World Cup. These robots have been officially handed over to FIFA's security team and will perform security duties at key locations, including the Dallas International Broadcast Center (IBC) and stadiums in New York and New Jersey. There is also speculation that the humanoid robot 'Atlas' may participate in the opening ceremony's kickoff. Atlas has recently demonstrated advanced soccer skills, including the 'Ghost Rabona Kick.' Kia will set up booths at various stadiums from June 12 to July 10, offering interactive programs for soccer fans. The exhibition space will feature a triangular design reflecting the three host countries, showcasing vehicles themed around the host cities and allowing fans to create customized player cards wearing their national team jerseys. During the tournament, Kia will deploy 660 popular North American models, including the Telluride, Sportage, Carnival, EV9, and K4, to support matches and events. Additionally, shuttle services will operate in Los Angeles and Vancouver with about 70 vehicles to ensure safe and convenient transportation for customers. The shuttle vehicles will feature infotainment systems with themes that enhance the World Cup atmosphere and represent youth players participating in the OMBC program as 'The 49th Team,' transforming shuttles into platforms for mobility experiences rather than just transportation. As an official partner, Hyundai and Kia can expect at least eight minutes of exclusive brand exposure per match. This translates to an estimated value of about $40 million per game in global TV advertising rates. With 104 matches scheduled, the total media exposure value is projected to be approximately $41.6 billion. Given Hyundai and Kia's established brand recognition in North America, industry analysts anticipate a sales increase of 3% to 5% due to the World Cup advertising impact. Previously, Hyundai and Kia generated an estimated economic impact of $20 billion during the 2022 Qatar World Cup through stadium media advertising (estimated at $10 billion to $12 billion), TV commercials, and support for eco-friendly official vehicles like the Ioniq 5 and EV6. Their status as an official partner in the conservative Middle Eastern automotive market has significantly boosted global trust in their electrified models. ◆ Targeting Home Viewers... Samsung and LG Launch Aggressive Appliance Discounts Samsung Electronics and LG Electronics are also moving quickly to leverage the global excitement of the World Cup in their marketing strategies. Samsung is running the '2026 Samsung Electronics Thank You Festival' until July 5, offering up to 20% cashback in digital gift certificates for purchases of appliances and mobile devices, with a total budget of 400 billion won. Some models, like the Galaxy S26+ unlocked version, offer cashback rates of up to 25%. Additionally, Samsung is conducting separate promotions throughout June, including a 'Simultaneous Purchase Promotion for Appliances and Furniture' and a 'Robot Vacuum Trade-In Program.' LG Electronics is hosting a 'National Representative Appliance Support Festival' until July 6, providing up to 4.2 million points based on purchase amounts at 432 LG Best Shops and LGE.com, along with a coupon worth 500,000 won for use at the official online mall. Starting June 15, LG will also hold an online-only limited-time sale, offering up to 20% additional discounts off existing member prices. Both companies are focusing on large TVs as key promotional items to attract World Cup fans. With matches scheduled during weekday mornings due to time zone differences, they aim to capitalize on the demand from home viewers. Additionally, they plan to package air conditioners and dehumidifiers to maximize synergy ahead of the early heat waves and rainy season.* This article has been translated by AI. 2026-06-12 17:03:00 -
World Cup 26: Veterans steady, newcomers shine in Korea's first win SEOUL, June 12 (AJP) — South Korea's 2-1 comeback victory over Czechia in its opening Group A match at the 2026 FIFA World Cup was not the work of a single star. It was a victory built on balance — experienced leaders delivering in decisive moments while a new generation showed it was ready for football's biggest stage. Head coach Hong Myung-bo's side fell behind in the 58th minute when Ladislav Krejci powered home a header, but recovered through Hwang In-beom's equalizer in the 67th minute before substitute Oh Hyeon-gyu completed the turnaround in the 79th. The result gave South Korea its first World Cup opening-match victory since 2010 and offered an encouraging glimpse of a squad capable of combining experience with emerging talent. At the center of the comeback was Hwang. Questions lingered before the tournament after an injury-interrupted season at Feyenoord limited his playing time, but the midfielder answered them emphatically with a goal and an assist. For the equalizer, Hwang timed his run perfectly onto Lee Kang-in's through pass before showing composure to beat both the defender and goalkeeper. Twelve minutes later, he delivered a low cross from the right that Oh converted for the winner. The performance carried historical significance. Hwang became the first South Korean player to record both a goal and an assist in a World Cup match since Hong himself achieved the feat at the 1994 World Cup in the United States — 32 years before guiding Korea from the touchline in Guadalajara. FIFA later named Hwang Player of the Match. Behind him, goalkeeper Kim Seung-gyu provided the foundation for victory. After conceding from a set-piece situation, Kim recovered to produce a series of crucial saves as Czechia pushed for an equalizer. His sharp reflex stop from close range in the closing stages preserved Korea's lead and effectively secured all three points. The save left such an impression that Czechia coach Miroslav Koubek highlighted it afterward as one of the decisive moments of the match. While the veterans provided stability, several younger players delivered performances that suggested Korea's future may be arriving sooner than expected. Few carried greater responsibility than Lee Gi-hyuk. The defender entered the match with only three senior international appearances, two of them in pre-World Cup friendlies, yet found himself starting alongside Kim Min-jae and Lee Han-beom in a back three against Czechia's physically imposing attack. An early mistake briefly threatened to hand Czechia an opportunity, but Lee recovered quickly and never appeared overwhelmed by the occasion. Facing a barrage of crosses and long balls, he competed aggressively in the air, recorded eight headed clearances and showed composure in possession, helping Korea build attacks from the back under pressure. If Lee represented Korea's future in defense, Oh delivered the moment that may define the opening match. Introduced in the second half in place of Son Heung-min, the striker needed little time to justify the decision. In the 79th minute, Oh attacked Hwang's low cross and finished decisively to complete Korea's comeback. Against a Czech side that relied heavily on height and physicality, his movement inside the penalty area and instinctive finishing provided Hong with another valuable attacking option heading into the rest of the tournament. Kim Min-jae, meanwhile, quietly played the role expected of him. The Bayern Munich defender organized Korea's back line, guided his younger defensive partners and helped absorb the aerial pressure that Czechia generated throughout the match. Lee Han-beom also passed a significant test. Tasked with handling the intensity of a World Cup opener, the young defender held his ground and contributed to a defensive effort that recovered from an early setback to secure victory. World Cups often reveal whether a team has enough depth beyond its established stars. Against Czechia, South Korea received an encouraging answer. Its veterans delivered when the match demanded leadership. Its younger players responded when the pressure rose. For Hong, that combination may be the most valuable result of all as Korea prepares for a far sterner challenge against Mexico. 2026-06-12 16:59:53 -
Middle East Ceasefire Nears, Renewed Focus on Construction and Steel Stocks As geopolitical tensions in the Middle East ease and the possibility of a U.S.-Iran peace agreement becomes clearer, investor interest is returning to construction and steel stocks, which have been overlooked recently. On June 12, the KRX construction index surged 11.18%, the highest gain among all sectors on the KRX. The news of an imminent signing of a memorandum of understanding (MOU) between the U.S. and Iran has alleviated geopolitical uncertainties, leading to a flow of funds into construction and traditional infrastructure stocks that had been overshadowed by a focus on semiconductor stocks. Large construction firms with significant Middle Eastern contracts drove the index's rise. Hyundai Engineering, the leading stock in the KRX construction index, closed up 28.36% at 157,500 won, while KEPCO Engineering, an engineering firm specializing in nuclear power and infrastructure, rose 29.98% to hit the ceiling price of 151,300 won. GS Engineering and Daewoo Engineering also saw increases of 9.92% and 6.85%, respectively, contributing to the overall index gain. Other infrastructure-related companies, such as Seongkwang Bend (7.71%), HDC (6.50%), and Hanyang Engineering (5.57%), also showed strong performance. The exchange-traded fund (ETF) market also reacted positively. KODEX Construction and TIGER 200 Construction rose by 5.77% and 5.61%, respectively, while the steel sector, a key material for traditional infrastructure, saw TIGER 200 Steel Materials increase by 5.00%. Major steel companies like Hyundai Steel and POSCO Holdings closed up 8.71% and 5.31%, respectively. The market's momentum was largely driven by developments in the Middle East. President Donald Trump mentioned the nearing finalization of the MOU, causing West Texas Intermediate (WTI) crude oil prices to drop below $90 per barrel. This decline sparked optimism about peaking inflation and a preference for riskier assets. Consequently, the domestic market experienced strong buying activity, prompting a trading halt on the KOSPI index at one point. Market analysts suggest that with the recent adjustments in the domestic stock market alleviating the concentration of leading stocks, now is an opportune time to consider adding overlooked sectors with strong earnings visibility to investment portfolios, particularly in light of the Middle East ceasefire momentum. Han Ji-young, a researcher at Kiwoom Securities, stated, "Despite the recent correction phase, sectors that have not seen significant performance yet still hold their unique investment points are worth considering. Industries like machinery and shipbuilding, which have secured earnings visibility based on their order backlogs, could be good alternatives." Kang Jin-hyuk, a senior researcher at Shinhan Investment Corp., noted, "While consumer goods such as department stores and cosmetics, which had been defensive plays amid unstable investor sentiment, saw selling pressure, the swift turnaround in the Middle East situation has led to strong rebounds in construction stocks amid reconstruction expectations."* This article has been translated by AI. 2026-06-12 16:54:00