Latest by
-
Iran Warns of Strikes on U.S. Targets in the Middle East Amid Rising Tensions Tensions are escalating in the region as Iranian officials warn they could target U.S. assets in the Middle East following indications from President Donald Trump about potential additional strikes against Iran. On June 10, the semi-official Tasnim News Agency reported, citing military sources, that Iran would retaliate against U.S. targets in the region if attacked. The source stated, "Last night, we demonstrated that any reckless action by the U.S. would provoke an immediate response from Iran, and we will not tolerate any aggressive actions." The Iranian military is reportedly on high alert, warning that the U.S. would face severe consequences for any aggressive moves. This response comes after President Trump expressed frustration over delays in negotiations with Iran, suggesting the possibility of further military action. The day prior, the U.S. conducted airstrikes on military facilities in Iran as retaliation for the downing of an Army Apache helicopter near the Strait of Hormuz. In response, Iran targeted U.S. bases in Bahrain, Jordan, and Kuwait. Meanwhile, U.S. Central Command announced that at 5:15 PM Eastern Time on June 11, it began additional defensive airstrikes against multiple targets in Iran.* This article has been translated by AI. 2026-06-11 07:15:00 -
U.S. Stocks Decline Amid Middle East Tensions and AI Profit-Taking U.S. stocks fell sharply as tensions between the U.S. and Iran escalated and investors took profits in artificial intelligence (AI) semiconductor and technology stocks. On June 10, the Dow Jones Industrial Average closed down 953.33 points, or 1.87%, at 49,918.78. The S&P 500 dropped 119.66 points, or 1.62%, to finish at 7,266.99, while the tech-heavy Nasdaq Composite fell 509.32 points, or 1.98%, to close at 25,169.50. This marked the first time in three weeks that the New York Stock Exchange experienced two consecutive days of declines, driven by ongoing concerns over the overvaluation of AI-related stocks and negative developments in the Middle East. Stocks that had previously led the market rally, particularly in the semiconductor and AI sectors, saw significant declines. Nvidia, a leading AI company, fell 3.4%, while Micron Technology dropped 4.7%. The Philadelphia Semiconductor Index decreased by 3.6%. Notably, Supermicro Computer (SMCI), an AI server manufacturer, plummeted 23.1% after announcing a plan to issue $7 billion in stock to finance component purchases. The unrest in the Middle East further dampened investor sentiment. President Donald Trump warned on Truth Social about the need for the U.S. to respond to hostilities with Iran, stating that there would be a 'price to pay' and indicating a willingness to escalate military action against Iran. Iranian President Ebrahim Raisi also announced a strong retaliatory stance, heightening fears of conflict between the two nations. As a result, international oil prices rose. August Brent crude futures increased by 1.80% to $93.10 per barrel, while July West Texas Intermediate (WTI) crude futures rose by 2.07% to $90.03. Jedd Allbrook, a portfolio manager at Agent Capital Management, told CNBC, "The Iran war issue is a very significant variable for the market. If President Trump can control the situation and negotiate with Iran, the Strait of Hormuz could reopen, but if not, oil prices are bound to rise significantly." Additionally, the U.S. Consumer Price Index (CPI) for May, released that morning, raised inflation concerns among investors. The May CPI rose 4.2% compared to the same month last year, marking the largest increase in three years. Excluding volatile food and energy prices, the core CPI increased by 0.2% from the previous month and 2.9% year-over-year, aligning with market expectations. However, rising oil prices raised worries about prolonged inflationary pressures. Market analysts suggest that the Federal Reserve may raise interest rates at least once by the end of the year, reflecting this sentiment in asset prices. In the bond market, long-term inflation concerns were evident. The yield on the 10-year U.S. Treasury rose by 3 basis points to 4.55%. In contrast, the yield on the more sensitive 2-year Treasury dipped slightly to 4.12%. Gold, considered a safe-haven asset, also weakened. The spot price of gold fell 4.3% to $4,077.91 per ounce, as rising oil prices and the potential for further interest rate hikes diminished the appeal of non-yielding gold investments.* This article has been translated by AI. 2026-06-11 07:09:00 -
Studies reveal uneven productivity gains and job anxiety from generative AI in S. Korea SEOUL, June 11 (AJP) - Kookmin University International Business School (KIBS)'s Professor Oh Eun-young has published two research papers analyzing the varying impacts of generative artificial intelligence (AI) on industrial productivity and occupational replacement in South Korea, Kookmin University said Wednesday. The studies, published in international academic journals in February and June, examine how the adoption of AI technologies affects different sectors and how the public perceives the threat of job displacement. The research indicates that the effects of generative AI are determined by industrial structures and job characteristics rather than applying uniformly across the economy. The first paper analyzed productivity changes following the spread of generative AI. The research found that early productivity gains were concentrated in finance, information and communications, and professional services. In contrast, the manufacturing sector experienced limited changes, suggesting that the initial economic benefits of AI are more prominent in specific service-oriented industries. The second paper assessed public perceptions of job replacement by AI tools like ChatGPT. The survey indicated that South Koreans believe translators, data scientists, and financial advisors face a high likelihood of replacement. Meanwhile, professions such as professors, researchers, and writers were viewed as less vulnerable to AI substitution. The study also noted that older individuals experience greater overall job anxiety related to the technology. "Generative AI is an important technology that can increase productivity across the economy, but its effects do not appear equally in all industries and professions," Oh said. "In order to spread the benefits of AI technology more widely and respond to changes in the labor market, policy discussions that consider the characteristics of each industry and profession are necessary." 2026-06-11 06:56:44 -
U.S. Defense Secretary Warns of Strikes on Iran's Key Facilities Pete Hegseth, the U.S. Secretary of Defense, has indicated that the United States is preparing to strike Iran's key facilities. On June 10, during a press briefing at the Central Command headquarters in Florida, Hegseth stated that the U.S. would deliver a strong blow to Iran, targeting its critical infrastructure. "Central Command will be busy tonight," he said, emphasizing that the airstrikes would be conducted in a powerful and clear manner. He added, "Ultimately, what we do tonight will enhance our military interests and strengthen our diplomatic position." Hegseth asserted that Iran still has opportunities for negotiation. He noted, "President Trump is willing to fight again if necessary, but at the same time, he has extended an open hand for Iran to reach an agreement. The deal is right there, and they have the chance. However, they have chosen to play games and delay." He continued, "If they want to stall, the President will turn to the Department of Defense. If we need to negotiate with bombs, we will negotiate with bombs. No one does it better than us in the world." Earlier, President Trump also warned reporters at the White House, "We hit Iran hard yesterday. We will hit them even harder today," indicating the possibility of further attacks on Iran's infrastructure, including power plants and bridges. He remarked that Iran's negotiations are "completely over, yet they keep stalling."* This article has been translated by AI. 2026-06-11 06:48:00 -
President Lee Jae-myung Arrives in Italy for State Visit President Lee Jae-myung arrived in Italy on June 10, 2026, after departing from Belgium, marking the second stop on his European tour.The president landed at Rome's Leonardo da Vinci International Airport, where he was escorted by two fighter jets as a courtesy for his state visit.Attending the airport welcome ceremony were Italian Deputy Foreign Minister Marina Sereni, Bruno Antonio Pasquino, the Italian Chief of Protocol, and Emilia Gatto, the Italian Ambassador to South Korea.From South Korea, Ambassador to Italy Kim Jun-goo and his wife, along with Ambassador to the Holy See Shin Hyung-sik and his wife, welcomed the president and first lady.President Lee is on a state visit to Italy at the invitation of President Sergio Mattarella, which will last until June 13.During his visit, he will hold a series of meetings with President Mattarella and Prime Minister Giorgia Meloni, as well as meet with the Speaker of the Chamber of Deputies and lay a wreath at the Tomb of the Unknown Soldier, seeking ways to enhance bilateral relations.On June 14-15, he will visit the Vatican to meet with Pope Leo XIII and the Secretary of State of the Holy See.He will also attend a special mass for peace and solidarity, where he plans to discuss global peace and the establishment of peace on the Korean Peninsula with the pope.The following day, he will hold a summit with Prime Minister Meloni and participate in a memorandum of understanding (MOU) signing ceremony.In conjunction with President Lee's visit, a Korea-Italy Business Roundtable will be held locally to promote business exchanges between the two countries.Additionally, following the customary state visit protocol, President Lee will visit Florence to discuss ways to strengthen cultural cooperation between the two sides.* This article has been translated by AI. 2026-06-11 06:45:00 -
U.S. Strikes Oil Tanker Violating Iran Maritime Blockade; India Reports 3 Missing Crew The United States attacked a Palauan-flagged oil tanker in the Gulf of Oman for allegedly violating a maritime blockade against Iran. U.S. Central Command (CENTCOM) stated on June 10 that it neutralized a vessel attempting to transport oil from Iran at 11:14 p.m. local time on June 9. The tanker, identified as the Setebelo, reportedly ignored multiple warnings from U.S. forces, prompting a precision strike on its engine room. CENTCOM also noted that on June 8, it had previously neutralized another Palauan-flagged vessel, the Marivex, heading toward Iran. Since the start of the maritime blockade against Iran on April 13, U.S. forces have neutralized eight vessels that did not comply with the blockade orders and turned back 134 ships, while allowing 42 humanitarian aid vessels to pass. According to the Indian Ministry of External Affairs, 24 Indian crew members were aboard the Setebelo, with 21 rescued and three reported missing. The Indian government summoned Jason Mix, the U.S. chargé d'affaires in India, to express its concerns. In a statement, the Ministry did not directly name the U.S. but expressed serious concern over the ongoing attacks on vessels in the region, calling for immediate de-escalation and a diplomatic resolution to restore peace and stability. The Ministry emphasized that attacks targeting commercial vessels and civilian facilities must cease and urged for the restoration of freedom of navigation and trade through international waters in accordance with international law.* This article has been translated by AI. 2026-06-11 06:36:00 -
Trump: Secret Operation in Hormuz Enabled Supply of Over 100 Million Barrels of Oil President Donald Trump announced on June 10 that U.S. military forces have been conducting a secret operation since last month to ensure the safe passage of commercial vessels through the Strait of Hormuz, which has enabled a significant supply of oil. In a post on the social media platform Truth Social, Trump stated, "Last month, I directed our great military to carry out a secret operation to support tankers and other vessels passing through the Strait of Hormuz." He added, "I am pleased to announce today that as a result of this effort, over 100 million barrels of oil have passed through the strait and been supplied to the open market," noting that "more than 200 vessels have safely navigated the strait." Trump further emphasized, "This extremely successful effort is thanks to the fact that the United States, not Iran, controls the Strait of Hormuz. Their military has been defeated, and their economy has collapsed. Iran is finished." This announcement followed Trump's earlier remarks during an event in the White House, where he stated, "We have been pulling millions of barrels of oil every night. This is the first time I am announcing it today," before detailing the nature of the operation and the scale of oil supply on Truth Social. He also noted that this oil supply is why prices are currently around $85 to $90 per barrel instead of $250, adding, "When the war ends, prices will plummet." On June 9, U.S. Secretary of Energy Chris Wright stated that the number of vessels passing through the Strait of Hormuz has "increased significantly." Previously, on May 4, Trump had announced the initiation of a "Project Freedom" to support the safe passage of commercial vessels stranded due to Iran's blockade of the Strait of Hormuz, but he declared its suspension the following day. However, his recent comments suggest that U.S. forces have continued similar operations in secret since then.* This article has been translated by AI. 2026-06-11 06:27:00 -
Trump Promises Stronger Military Action Against Iran Amid Tensions President Donald Trump has warned of further military action against Iran while pressuring the country to sign a peace agreement. In response, Iran criticized the U.S. threats to its infrastructure as a sign of desperation. On June 10, during a meeting with reporters at the White House, Trump stated, "In case you missed it or didn't have the TV on, we hit Iran hard yesterday. Today, we will hit them even harder." This comment followed a warning he issued on social media platform Truth Social, where he told Iran that they would have to "pay a price." When asked to clarify, he emphasized that he meant a strong retaliation based on a recent helicopter incident. His remarks were interpreted as a continuation of retaliation for a drone attack that downed a U.S. Army Apache helicopter. Trump noted, "Initially, they said they didn't do it, but later they admitted it, because we have the unexploded ordnance lodged in the helicopter's fuselage." He also reiterated his capability to target Iranian power plants and bridges, stating, "I can do that; I can neutralize them." In response, Iranian President Ebrahim Raisi dismissed Trump's comments as mere expressions of desperation. He stated on X (formerly Twitter), "Critical infrastructure is the lifeline of our people. Threats to target these facilities, from transportation to power and water industries, are not displays of strength but rather evidence of desperation in the face of Iran's strong resolve." He emphasized that Iran would steadfastly resist any pressure or threats based on its experts' knowledge and national unity. Trump also commented on negotiations with Iran, saying, "We are really close to an agreement. All they have to do is sign the document." However, he accused Iran of stalling, claiming, "The negotiations are completely over, but they keep tapping and tapping because the peace agreement document is very significant." He criticized the Iran nuclear deal (JCPOA), established during Barack Obama's presidency, as "the worst and most foolish document I have ever seen." Trump reiterated his belief that if he had not withdrawn from the JCPOA during his first term, Iran would have acquired nuclear weapons. He stated, "If they had nuclear weapons, there would be no Israel, no Middle East, and they would certainly have attacked us." He added, "Iran will never have nuclear weapons, and they have already agreed to that." Additionally, Trump announced, "We have been pulling millions of barrels of oil out of the Strait of Hormuz every night," adding that this was the first time he was making this announcement. He attributed the current oil prices of $85 to $90 per barrel to this supply, predicting that prices would plummet once the conflict ends.* This article has been translated by AI. 2026-06-11 06:18:00 -
Ministry of Land to Supply 2,000 Public Housing Units in Seoul's Seocho District The Ministry of Land, Infrastructure and Transport is moving forward with plans to supply 2,000 public housing units in the Umyun-dong area of Seocho District, Seoul. On June 11, the ministry announced the designation of a new public housing district, the 'Seoul Seoripul 2 Public Housing District,' covering an area of 193,259 square meters, which will include the additional 2,000 housing units. The Seoripul 2 District has completed necessary procedures, including consultations with relevant agencies such as the Seoul City and Seocho District, strategic environmental impact assessments, and disaster impact reviews, starting with a public review for residents in November 2024. In March of this year, it passed the Central Urban Planning Committee's review. This area offers good access to the Gangnam city center and is surrounded by natural environments like Umyeonsan Mountain. The ministry plans to develop it as a residential complex that supports advanced industries in the Yangjae and Gangnam areas, alongside the previously designated Seoripul 1 District, which will provide 18,000 housing units. The project will be implemented by the Korea Land and Housing Corporation and the Seoul Housing and Communities Corporation. The project timeline is set from 2026 to 2035. The ministry plans to announce the public housing district designation this month, with district plan approval expected in July 2027 and construction slated to begin in December 2028. Typically, land development projects take about 56 months from district designation to the start of construction. However, the ministry aims to expedite the timeline for the Seoripul 2 District by preparing subsequent procedures, such as district planning, before the designation and concurrently designing construction plans during the site preparation phase, potentially advancing the construction start date by more than two years. Lee Jae-pyeong, the housing supply policy director at the Ministry of Land, Infrastructure and Transport, stated, "The Seoripul 2 District, along with the Seoripul 1 District, is part of the public land development project in the Gangnam area of Seoul. We will push forward with the project efficiently through thorough management and communication with residents."* This article has been translated by AI. 2026-06-11 06:03:00 -
Namuga CEO Lee Dong-hoo Aims to Expand Beyond Smartphone Sensors Lee Dong-hoo, CEO of Namuga, is recognized as an expert in the global manufacturing sensor industry. Since taking the helm in 2024, he has redefined the company's slogan to "Vision Connectivity" and is working to expand its business beyond camera modules into the fields of robotics and mobility. Born in 1969, Lee earned his master's degree from the University of Wisconsin-Madison. He joined LG Electronics' overseas sales team in 1995 and gained extensive experience in the U.S. manufacturing market during the 2000s. In 2002, he became an executive at Dover Technologies, a U.S. industrial automation company, where he oversaw advanced manufacturing and automation initiatives. By 2008, he was an executive at Tyco Electronics (now TE Connectivity), where he developed expertise in process automation, quality control, and the sensor industry ecosystem. Lee has also served as the head of global business at Samsung S1 and as the Asia-Pacific general manager for HZO in the United States. Drawing on his experience in sensor technology and manufacturing innovation, he is focused on transforming Namuga from a camera module company into a sensor enterprise for the physical AI era. "I wanted to apply the know-how I gained from global companies in the sensor and process automation fields to Korean businesses," Lee said. "I believe Namuga, which has manufacturing capabilities and needs to grow in the sensor sector, is the best company to leverage that experience."* This article has been translated by AI. 2026-06-11 06:03:00