Latest by
-
6th U.S.-South Korea Nuclear Consultative Group Meeting Confirms Commitment to Deterrence The U.S.-South Korea Nuclear Consultative Group (NCG) announced that it has reaffirmed its commitment to provide extended deterrence to South Korea using all U.S. capabilities, including nuclear options.In a joint press statement issued on June 11, the Defense Ministry stated, "The U.S. and South Korea confirmed their shared goal of North Korean denuclearization."The two nations also discussed the enhancement of North Korea's nuclear and missile capabilities, the evolving security environment, and reviewed tasks related to security and information sharing, consultation procedures during nuclear crises, Conventional-Nuclear Integration (CNI), and joint exercises and training.To ensure information security for NCG activities and discussions, the 'U.S.-South Korea NCG Security Guidelines' were established.The sixth NCG meeting was co-chaired by Kim Hong-cheol, Director of Defense Policy at the South Korean Defense Ministry, and Robert Super, Deputy Assistant Secretary of Defense for Nuclear Deterrence and WMD Policy. Representatives from both countries' defense, diplomatic, and intelligence sectors attended the meeting.The representatives agreed to report the NCG outcomes to the 58th Security Consultative Meeting (SCM) and approved the tasks and key activities for the second half of 2026, including plans for the seventh NCG plenary meeting.* This article has been translated by AI. 2026-06-11 19:00:00 -
Lottery Ticket Checked Late Wins First Prize "I have a habit of checking my tickets all at once after a month or two of buying them." As attention turns to the winning numbers for the 319th round of the Pension Lottery 720+ on June 11, the story of the winners from the 277th round is making headlines. In a recent post on the Donghaeng Lottery winners' board, a winner of one first prize and four second prizes from the 277th round shared, "I often buy lottery tickets, and recently I started purchasing the pension lottery as well. Because I buy them regularly, I developed a habit of checking them all at once after a month or two." The winner continued, "This Chuseok holiday was long, so I started looking through the tickets I had saved. I was shocked to discover I had won the first prize. Even when I checked with the QR code, I couldn't believe it, so I rewatched the winning announcement and confirmed at the store where I bought the tickets that a first prize winner had indeed been announced." He expressed, "From the moment I learned of my win during the holiday in my hometown, I felt that my late parents were helping me." The winner, who purchased the ticket at a lottery store in Bucheon, Gyeonggi Province, responded to a question about his usual lottery purchases, saying, "I buy both Lotto and pension lottery tickets every week." Regarding plans for the winnings, he stated, "I plan to use it to help purchase a house." Meanwhile, the winning numbers for the 319th round of the Pension Lottery 720+ will be available after 7:05 PM today.* This article has been translated by AI. 2026-06-11 18:57:00 -
Nexon to End 'Crazy Arcade' Service After 25 Years Nexon is set to discontinue its PC online game "Crazy Arcade," which has been in service for nearly 25 years. On June 11, Nexon announced on its website that the service will officially end on August 13. A representative from Crazy Arcade expressed gratitude to the game's community, stating, "We sincerely thank all the Crazy Arcade family members who have been with us, and we hope the memories we shared will remain cherished. We will do our best to ensure a smooth experience during the remaining period and provide necessary updates." Nexon has been evaluating the viability of its live game services, considering recent declines in new user acquisition and revenue. This decision to end Crazy Arcade's service is seen as part of that evaluation. Additionally, the third-person shooter game "Bubble Fighter," based on the Crazy Arcade intellectual property, is also set to conclude its service on June 24. Last June, Nexon ended the service for another major title, "Kart Rider Drift," which is based on its flagship IP, "Kart Rider." As a result, Nexon will cease the sale of paid items and ongoing events. Refunds will be processed for all purchases made with paid Nexon Cash from March 11 until the service termination date. Items that have not been retrieved from the temporary storage since June 11 of last year will also be eligible for refunds. Furthermore, Nexon plans to distribute free characters and items before the service ends. "Crazy Arcade" was launched in October 2001 and is one of Nexon's early games. It has become a key intellectual property for the company, expanding into the "Crazy Park" brand. The upcoming service termination of "Bubble Fighter" on June 24 is also part of the Crazy Park IP expansion. 2026-06-11 18:42:00 -
Hanwha Ocean Selected as Preferred Bidder for 7 Trillion KDDX Project HD Hyundai Heavy Industries and Hanwha Ocean have competed for the detailed design and lead ship construction of the Korean next-generation destroyer (KDDX), with Hanwha Ocean emerging as the preferred bidder. On June 11, the Defense Acquisition Agency completed its evaluation of the KDDX proposal and notified both Hanwha Ocean and HD Hyundai Heavy Industries of the results. Reports indicate that Hanwha Ocean received a slightly higher score than HD Hyundai Heavy Industries. A key factor in the decision was a 1.2-point security penalty applied to HD Hyundai Heavy Industries. The company was found guilty of leaking military secrets related to the KDDX project, which led to the penalty. The Defense Acquisition Agency will apply this security penalty to HD Hyundai Heavy Industries until December of this year. Although the company filed for an injunction against the penalty, it was dismissed on June 5. The score difference between the two companies was reportedly less than the penalty imposed on HD Hyundai Heavy Industries. According to industry sources, while HD Hyundai excelled in technical capability assessments, the security penalty resulted in Hanwha Ocean scoring approximately 0.6 points higher. Ultimately, the security penalty effectively determined the outcome. The Defense Acquisition Agency plans to conduct follow-up procedures, including requests for post-evaluation explanations and appeals from each company, with the aim of selecting the preferred bidder by early next month. Additional negotiations will follow, with a goal of finalizing a contract by the end of next month. This evaluation result brings the KDDX selection process, which has faced intense competition and controversy, closer to completion after nearly two years of delays. There are speculations that the two companies may split the construction of six ships, with one company building three and the other four, but the company selected for the lead ship will effectively hold the dominant position. However, given that HD Hyundai Heavy Industries reportedly outperformed in technical capability assessments, the controversy surrounding the evaluation results is expected to continue for some time. Some industry insiders suggest that HD Hyundai Heavy Industries may file an appeal with the Defense Acquisition Agency or pursue further legal action. In response to the evaluation results, Hanwha Ocean stated, "We will closely cooperate with the Defense Acquisition Agency to make up for the delayed project schedule and ensure that there are no disruptions to naval power maintenance by mobilizing all our capabilities in ship design and construction. Especially since the KDDX will be a domestically produced destroyer equipped with nine key indigenous development systems, we will do our utmost to achieve world-class performance and quality through perfect system integration." A representative from HD Hyundai Heavy Industries expressed disappointment at not being selected despite significantly leading in technical scores, stating, "We plan to request a debriefing to confirm the details and basis of the evaluation results." The KDDX project involves a budget of 7.8 trillion won to construct six 6,000-ton mini Aegis destroyers using domestic technology. 2026-06-11 18:36:00 -
Samsung Electronics to Host SAFE Forum 2026 with Key Speakers from Rebellion and Siemens Samsung Electronics will hold the 'SAFE (Samsung Advanced Foundry Ecosystem) Forum 2026' on July 1 in South Korea to strengthen its foundry competitiveness. This year's event will feature key speakers from domestic AI semiconductor startup Rebellion and global industrial software company Siemens, who will share their collaborative achievements and future strategies with Samsung Foundry.According to industry sources, the forum will take place at Samsung's Seocho headquarters in Seoul. Shin Jong-shin, head of Samsung Electronics' design platform development, will deliver the keynote address, outlining the current status and technological updates of Samsung's foundry business. External speakers will include Park Seong-hyun, CEO of Rebellion, and Jean-Marie Brunet, Senior Vice President at Siemens EDA.The SAFE Forum is an annual technology event organized by Samsung's foundry division since 2019, bringing together partners from the semiconductor ecosystem, including clients, intellectual property firms, and electronic design automation (EDA) companies, to discuss the latest technological trends and collaboration opportunities.Notably, Park has been invited as a speaker for the third consecutive year. Rebellion is ramping up production of its next-generation AI semiconductor, the 'REBEL 100,' and is expanding its collaboration with Samsung Foundry. The event is expected to highlight experiences in utilizing Samsung Foundry during the AI semiconductor development process and showcase examples of collaboration between the two companies.Samsung plans to emphasize its competitive edge in its core 4-nanometer (nm) process technology and stable mass production capabilities at the forum. With the growing demand for AI semiconductors, there is increased interest in high-performance, low-power processes. Samsung aims to enhance client trust by highlighting the yield and production stability of its 4-nm process.The SAFE Forum was previously held in San Jose, California, last month, featuring speakers such as Ashok Eluswamy, Tesla's AI software chief, Shashin Gaji, CEO of Synopsys, and Tony Piallis, head of Qualcomm's data center and AI infrastructure business.This year's SAFE Forum is anticipated to reflect a shift in the atmosphere of Samsung's foundry business. Recently, Samsung has been signing contracts with major global tech companies, increasing its utilization rates. Projects such as the AI chip production contract with Tesla and preparations for producing NVIDIA's 4-nm-based AI chips are expanding its client base. There are even expectations for the foundry business to turn profitable as early as the third quarter of this year. 2026-06-11 18:33:00 -
Prosecutors Raid Samsung Headquarters Again Amid Rainbow Robotics Insider Trading Investigation Prosecutors have conducted another raid on Samsung Electronics' headquarters as part of an investigation into allegations of insider trading related to the acquisition of Rainbow Robotics. Authorities are examining whether officials from both Samsung and Rainbow Robotics had prior knowledge of investment and acquisition-related information before purchasing stocks. According to legal sources on June 11, the Southern District Prosecutors' Office in Seoul executed a search warrant at Samsung's headquarters the previous day. This follows a similar raid in March at Samsung's Suwon headquarters and Rainbow Robotics' office in Daejeon. The current investigation focuses on whether employees from both companies utilized undisclosed positive information during the gradual acquisition of Rainbow Robotics shares leading up to the final takeover. In February, the Financial Services Commission's Securities and Futures Commission reported Samsung employee Jo and Rainbow Robotics' Chief Financial Officer, known as A, to prosecutors for suspected violations of the Capital Markets Act. Prosecutors suspect that from 2022 to 2024, these individuals used information related to Samsung's investment and acquisition of Rainbow Robotics to purchase stocks, potentially yielding illicit gains of 3 to 4 billion won. Under the Capital Markets Act, information that could significantly impact stock prices, such as acquisitions or equity investments in listed companies, is subject to insider trading regulations until publicly disclosed. The outcome of the investigation may determine the extent of responsibility for the involved employees. Rainbow Robotics is a domestic robotics company founded by researchers from KAIST. As interest in Samsung's investment and acquisition efforts grew, the company's stock price surged, placing it among the top market capitalizations on the KOSDAQ. Samsung views robotics as a key driver of future growth. The acquisition of Rainbow Robotics has been interpreted as a strategic investment aimed at expanding its next-generation robotics business, including humanoid and industrial robots.* This article has been translated by AI. 2026-06-11 18:33:00 -
Agriculture Ministry Reports 46% Increase in Newly Registered Leased Farmland As the government conducts a comprehensive survey of farmland, newly registered leased farmland has increased by 46% compared to last year. On June 11, the Ministry of Agriculture, Food and Rural Affairs reported this increase during a meeting led by Minister Song Mi-ryung at the administrative welfare center in Palteun-myeon, Hwaseong City, Gyeonggi Province. The farmland survey aims to eradicate land speculation and establish a data-driven farmland management system. Since May 18, detailed investigations have been underway across 17 cities and provinces, 227 districts, and 4,273 towns and villages nationwide. The process involves verifying basic information using administrative data and aerial photographs and classifying areas for in-depth investigation. The ministry has completed regional training for 2,519 officials responsible for farmland management in towns and villages and is also conducting mobile training for farmland surveyors. In conjunction with the survey, a special maintenance period for normalizing farmland leasing is being implemented until next month. This initiative addresses issues arising from the practice of verbal leasing agreements, which have made it difficult to identify actual cultivators. The goal is to transition as many agreements as possible to written contracts. From May 18 to June 2, the number of newly registered leasing contracts reached 16,797, marking a 46% increase compared to the same period last year. Additionally, from May 18 to June 9, the number of new leasing contracts established through the Farmland Bank rose by 61% year-on-year. The Korea Rural Community Corporation plans to deploy drones across Gyeonggi Province starting in August to support the comprehensive farmland survey. This initiative will focus on areas that are difficult to access, including remote islands and mountainous regions. Minister Song stated, "I will closely monitor the progress of the farmland survey and maintain close communication with the field to provide support. I hope this survey will serve as an opportunity to eradicate land speculation and ensure farmland is properly utilized for agricultural purposes."* This article has been translated by AI. 2026-06-11 18:30:00 -
Over 500 companies showcase latest technologies at expo in southern Seoul SEOUL, June 11 (AJP) - South Korea's largest annual tech expo in southern Seoul has been drawing visitors since its opening this week, bringing tech professionals and others together to explore the latest innovations in artificial intelligence (AI), robotics, and extended reality (XR). Under the theme "The Tech Nexus," the annual "Smart Tech Korea" expo, which kicked off at COEX in southern Seoul on Wednesday, runs until Friday, showcasing a wide range of emerging technologies such as generative AI, on-device AI, industrial robots, digital healthcare, quantum technology and AR/XR smart glasses, with more than 500 companies and institutions from over 40 countries taking part. The expo also features several sideline events, offering visitors and industry professionals a look at digital transformation technologies shaping the manufacturing, logistics, and retail sectors. 2026-06-11 18:26:20 -
BTS Concert in Busan Sparks Retail Surge as 100,000 Fans Expected As the BTS concert in Busan kicks off on June 12, the retail industry is launching a full-scale effort to attract the band's dedicated fanbase, known as ARMY. With over 100,000 fans expected to visit Busan from around the world, the three major department stores are ramping up their marketing strategies, including shuttle buses, pop-up stores, and limited-edition merchandise to capture foreign tourist demand.According to the retail industry on June 11, the BTS World Tour 'Arirang in Busan' will take place at the Busan Asiad Main Stadium on June 12-13. In anticipation of the event, Lotte, Shinsegae, and Hyundai department stores are enhancing their marketing efforts, particularly at their Busan locations, targeting ARMY members.Lotte Department Store will operate shuttle buses connecting Gimhae Airport and Seomyeon Lotte Town until June 14. On the concert days, additional shuttle buses will link Seomyeon Lotte Town to the concert venue. Seomyeon Lotte Town houses the Busan Lotte Hotel, Lotte Department Store's Busan branch, and Lotte Duty-Free Shop. This strategy aims to draw fans to the Lotte commercial area for shopping, accommodation, and duty-free purchases.Shinsegae Department Store will host an official BTS pop-up store at its Centum City location until June 14. In addition to existing official merchandise, the store will offer Busan-exclusive items to attract international fans. According to Shinsegae, foreign sales at the Centum City store doubled in the first four months of this year compared to the same period last year, and the upcoming BTS concert is expected to further boost these figures.Hyundai Department Store will also hold a 'K-Street Festa' at Connect Hyundai Busan until June 14, featuring popular K-fashion brands favored by foreign tourists. Stores like Snow Peak, which has BTS member V as a model, and CK Jeans, modeled by Jungkook, will offer discounts. Additionally, foreign customers holding the 'Visit Busan Pass' will receive a 10,000 won Olive Young gift card and free drink coupons. The reason behind the aggressive marketing by the three department stores ahead of the BTS concert is the purchasing power of ARMY. According to the Korea Culture and Tourism Institute, during the BTS concert in Gwanghwamun on March 21, foreign visitors spent an average of approximately 3.53 million won and stayed in Korea for an average of 8.7 days. This is significantly higher than the average stay (6.1 days) and spending (2.45 million won) of general foreign tourists in the first quarter of this year.The concert's impact has already been reflected in department store sales. Sales at Lotte Department Store's main branch increased by 20% compared to the same period last year on March 20-21, the day before and of the concert. Additionally, foreign customer sales during that period surged 2.4 times. Shinsegae's main branch also saw a 41% increase in sales compared to the previous year. Hyundai Department Store's The Hyundai Seoul reported a 2.4-fold increase in foreign sales compared to the previous week.As a result, the industry anticipates that the BTS concert will not only drive demand for the event but also lead to increased consumer spending in the Busan area. A retail industry official stated, "Foreign fans visiting for the BTS concert often enjoy shopping and sightseeing before and after the event. We expect significant revenue inflow not only for Busan department stores but also for K-fashion and beauty brands overall."* This article has been translated by AI. 2026-06-11 18:15:00 -
KOSPI Experiences Extreme Volatility, Surpassing Levels Seen During COVID-19 and Financial Crisis Recent fluctuations in the KOSPI index have exceeded the volatility levels observed during the COVID-19 pandemic and the global financial crisis. Analysts suggest that this is not merely a correction but a typical high-volatility phase that occurs in the latter part of a bull market. According to the Korea Exchange, the KOSPI dropped 8.29% on June 8, surged 8.18% on June 9, fell 4.52% on June 10, and closed up 0.43% on June 11. This rapid sequence of declines and gains over just four days has heightened investor anxiety. An analysis of daily KOSPI fluctuations shows that the index's daily volatility for June has averaged 5.30%. This figure, calculated as the standard deviation of daily changes, indicates how much the index has fluctuated. A higher number signifies a more turbulent and uncertain market. This level of volatility surpasses the 4.21% recorded during the initial shock of the COVID-19 pandemic in March 2020 and is higher than the 5.15% seen in October 2008, when the global financial crisis intensified. Monthly daily volatility figures for this year are as follows: January 0.99%, February 2.95%, March 4.85%, April 2.69%, May 3.51%, and June 5.30%. The volatility, which remained around 1% at the beginning of the year, has more than quintupled recently. The recent increase in volatility is attributed to a combination of geopolitical risks in the Middle East, caution ahead of U.S. inflation data releases, expectations of interest rate hikes in Japan, and profit-taking pressures in the semiconductor sector. Some analysts argue that the current high volatility is not just a simple correction but a typical phenomenon seen in the latter stages of a bull market. Historical trends during the dot-com bubble and the post-pandemic rally of big tech companies show that in the later stages of a bull market, stock prices tend to rise faster while volatility and the frequency of corrections increase. Indeed, KOSPI's daily volatility has surged to 5.30% in June, exceeding the 4.21% recorded during the pandemic shock in March 2020. Kim Sung-hwan, a researcher at Shinhan Investment Corp, stated, "This bull market can be compared to the roaring 1920s, the dot-com bubble, and the post-pandemic FANG cycle. It is difficult to argue that the market is still in the early to mid-stages of a bull market." He added, "The latter part of a bull market often brings significant fatigue for investors due to volatility, but until the market peak is confirmed, risk-adjusted returns are often not severely compromised." Looking ahead, he believes there is still potential for a bullish market for over a year, suggesting that while volatility may increase, adequate compensation for that risk is likely to be provided. Market observers note that analyzing the current volatility phase using realized volatility based on actual daily fluctuations is beneficial. An industry source explained, "The KOSPI200 volatility index (VKOSPI), known as the fear index, reflects expected volatility based on option prices, while the standard deviation of daily fluctuations reflects actual market movements. The latter may provide a more intuitive understanding of the volatility experienced by investors."* This article has been translated by AI. 2026-06-11 18:15:00