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Democratic Party Urges Restraint Amid Factional Tensions The Democratic Party of Korea on June 17 urged the media to refrain from using exaggerated terms related to factional conflicts, particularly regarding the anti-Cheong (anti-Jung Cheong-rae) and anti-Myeong (anti-Lee Jae-myung) factions, as the party prepares for its upcoming convention. The party also announced plans to take strong action against fake news. Kang Jun-hyun, the party's chief spokesperson, spoke to reporters after a Supreme Council meeting, stating, "We have united to establish the Lee Jae-myung government through the processes of martial law and impeachment. While this unity remains, the media is creating exaggerated frames. I hope terms like anti-Cheong and anti-Myeong will be avoided." He emphasized that there are no internal factional conflicts, urging the media to refrain from using exaggerated language as the convention approaches. Kang reiterated his call for restraint regarding the exaggerated expressions used by some media outlets and warned that the party would respond strongly to fake news. "We hope to avoid exaggerated tones as we approach the convention. Naturally, we will take strong action against fake news after verifying its accuracy," he added. "We will do our best to ensure that this convention serves as a platform for unity and renewal."* This article has been translated by AI. 2026-06-17 11:08:00 -
LS Cable Wins $1.4 Billion High-Voltage Project in Singapore LS Cable announced on June 17 that it has secured a high-voltage power network project worth approximately 1.4 trillion won from the Singapore Power Authority. Under this contract, LS Cable will supply 400kV and 230kV cables for the local market. In response to the growing demand for artificial intelligence (AI) and cloud services, Singapore has been increasing investments focused on environmentally friendly and efficient data centers. This initiative is part of a broader effort to enhance the power grid and expand transmission infrastructure. Since 2010, LS Cable, in collaboration with LS Eco Energy, has maintained the top market share in Singapore's high-voltage cable sector. The company has solidified its position as a key supplier by participating in the development of Singapore's national power grid, leveraging its accumulated technology and project experience. Recently, LS Cable has also demonstrated its technological competitiveness in the global market by winning a high-voltage direct current (HVDC) project worth about 25 trillion won in Europe. Additionally, through collaboration with its affiliates, LS Cable is expanding its business into the power infrastructure market for AI data centers. Gaon Cable recently signed a long-term supply contract for bus ducts worth 4 trillion won, accelerating its entry into the North American market. Bus ducts, which consist of insulated copper or aluminum conductors housed in a modular metal casing, significantly improve space efficiency compared to traditional cables. LS Cable anticipates that the replacement of aging power grids and the impact of AI proliferation will lead to a "supercycle" in power infrastructure lasting over the next 15 years. As a result, proactive contracts for future supply volumes are increasing, pushing LS Cable's order backlog to a record high of over 7 trillion won. Kim Hyung-won, head of LS Cable's Energy and Construction Division, stated, "The competitiveness in the AI era ultimately stems from power infrastructure. LS Cable will lead the global market based on its capabilities that encompass transmission networks for AI data centers and internal distribution solutions."* This article has been translated by AI. 2026-06-17 11:08:00 -
JTBC CEO to Appear in Court on June 23 Amid Central Group Restructuring The CEO of JTBC will appear in court as part of the restructuring process for five companies within the Central Group. According to legal sources on June 17, the Seoul Bankruptcy Court's Rehabilitation Division 2, led by Judge Jeong Jun-young, will hold a hearing on June 23 at 2 p.m. to confirm the debt size and other details related to JTBC's bankruptcy case. The hearing for the other companies involved in the restructuring—Central Holdings, Contentree Central, Megabox Central, and Central P&I—will take place simultaneously at 10 a.m. on the same day. The court plans to question the executives of each company regarding their specific debt amounts and proposed debt restructuring plans. Under the debtor rehabilitation law, once a bankruptcy filing is submitted, the court must question the debtor or their representative. On June 12, JTBC declared a default after failing to repay a total of 20.6 billion won in liquidity loans. Two days later, on June 14, Central Holdings, Contentree Central, Central P&I, and Megabox Central filed for bankruptcy proceedings. JTBC followed suit on June 15. The bankruptcy court has consolidated the cases of these five companies and assigned them to Rehabilitation Division 2. On June 15, the court issued a preservation order freezing the assets and claims of all five companies. Prior to this, on June 14, JTBC submitted a request to suspend the initiation of bankruptcy proceedings and expressed its intention to seek the Autonomous Restructuring Support (ARS) program. The ARS program allows the court to postpone the initiation of mandatory bankruptcy proceedings and supports negotiations between companies and creditors for voluntary restructuring. If the court approves the ARS program, the initiation of bankruptcy proceedings can be delayed for up to three months, with the possibility of extending the delay if negotiations progress. 2026-06-17 11:08:00 -
Asia markets sideline ahead of Fed decision, Nikkei sole gainer SEOUL, June 17 (AJP) - South Korea's main index took a light breather after a nonstop four-day rally of more than 12 percent as foreign investors turned sellers ahead of the U.S. Federal Reserve's policy decision. As of 10:30 a.m., the benchmark KOSPI stood at 8,703.90, down 0.3 percent from the previous session. The index moved between an intraday high of 8,727.58 and a low of 8,605.66. Foreign investors turned sellers after three consecutive sessions of buying, offloading a net 974.3 billion won, while institutions also sold a net 225.4 billion won. Retail investors took this as a cue to buy, purchasing a net 1.3 trillion won ($786.4 million) worth of KOSPI shares. Investors were awaiting the outcome of the Federal Reserve's Federal Open Market Committee meeting later in the day. Markets widely expect the Fed to keep its benchmark interest rate unchanged, but investors are watching for signals from Fed Chair Kevin Warsh's first post-meeting press conference. Despite the broader decline, select sectors posted sharp gains. Electric utilities led advances, with the sector rising 3.1 percent. Korea Electric Power Corp. gained 3.9 percent to 41,300 won, while KEPCO Engineering & Construction rose 0.9 percent to 135,800 won. Shipbuilding shares also advanced, with the sector up 3.1 percent. Hanwha Engine jumped 10.5 percent to 65,500 won, while HD Hyundai Marine Engine gained 6.7 percent to 76,900 won. Cable and steel pipe-related shares were among the strongest thematic plays. The cable sector rose 7.9 percent, led by Gaon Cable, which surged 26.9 percent to 333,000 won, and KBI Metal, which jumped 21.1 percent to 5,730 won. Steel pipe makers also rallied 7.9 percent, with HiSteel climbing by the daily limit of 30 percent to 4,225 won and Yulchon advancing 29.9 percent to 1,225 won. The secondary KOSDAQ rose 0.5 percent to 1,023.90 after moving between an intraday high of 1,026.28 and a low of 1,008.57. Retail investors bought a net 123.2 billion won, while foreign investors and institutions sold 124.4 billion won and 3.1 billion won, respectively. The won was little changed at 1,513.20 against the U.S. dollar. Oil prices edged higher on Wednesday but remained near three-month lows after four straight sessions of declines, as expectations for a U.S.-Iran peace agreement continued to weigh on supply concerns. West Texas Intermediate rose 0.2 percent to $76.20 a barrel, while Brent crude gained 0.2 percent to $79.10. Brent traded below $80 a barrel as investors anticipated Washington and Tehran would sign a preliminary agreement in Switzerland on Friday. The deal is expected to grant Tehran broad economic incentives, including the immediate resumption of oil exports. If implemented, the agreement could also allow more tankers to resume passage through the Strait of Hormuz, although shipping companies remain cautious about the route's longer-term stability. The additional supply outlook, combined with higher OPEC+ export quotas and increased production from the United Arab Emirates following its departure from the cartel during the conflict, is expected to add to global inventories. Industry data showed U.S. crude inventories fell by 8.3 million barrels last week. Japan's Nikkei 225 rose 0.4 percent to 69,696.10 after testing the 70,000 level in the previous session. China's Shanghai Composite fell 0.3 percent to 4,079.03, while Hong Kong's Hang Seng Index gained 0.3 percent to 24,552.39. 2026-06-17 11:06:17 -
Automobile Exports, Domestic Sales, and Production Decline, but Eco-Friendly Cars Show Resilience Last month, automobile exports, domestic sales, and production all experienced declines, while exports and sales of eco-friendly vehicles showed solid growth. According to the Ministry of Trade, Industry and Energy, the automobile export value in May was recorded at $5.83 billion, a 5.9% decrease compared to the same month last year. Production totaled 329,559 units, and domestic sales reached 127,315 units, reflecting declines of 8.2% and 10.3%, respectively. For the first five months of the year, cumulative export value and production fell by 2.6% and 2.3%, while domestic sales saw a slight increase of 1.0%. The drop in automobile exports is attributed to a combination of sluggish performance in key markets and production disruptions. Regionally, exports to Oceania (20.1%) and Africa (16.1%) increased, while exports to North America (-1.0%), the European Union (-6.5%), Asia (-37.3%), and the Middle East (-4.2%) declined. Notably, the decline in exports to Asia and the Middle East was pronounced. The ministry analyzed that the prolonged conflict in the Middle East has led to logistical challenges and a decrease in used car exports, among other domestic and international factors. Additionally, production disruptions due to a fire at a safety equipment factory and reduced working days contributed to the downward trend. The overall automobile industry faced challenges, but eco-friendly vehicles demonstrated robust growth. The export value of eco-friendly cars reached $2.4 billion, marking a 9.9% increase from the previous year, accounting for over 40% of total automobile exports. Hybrids comprised approximately 65% of eco-friendly vehicle exports, driving the expansion in this sector. In the domestic market, eco-friendly vehicles also showed strength. Domestic sales of eco-friendly cars in May totaled 77,179 units, a 5.5% increase compared to the same month last year, making up over 60% of total domestic sales. Electric vehicles surged by 65.4% to 35,416 units, although hybrid domestic sales fell by 19.6%. The ministry stated, "Global economic slowdown and uncertainties from major automakers' increased local sourcing continue to pose challenges. We will maintain close communication with the industry to monitor changes in parts supply, logistics conditions, and export markets."* This article has been translated by AI. 2026-06-17 11:04:00 -
South Korea Accelerates Economic Agreement with Mineral-Rich Mongolia Amid a global restructuring of supply chains, the South Korean government is accelerating negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with mineral-rich Mongolia. The Ministry of Trade, Industry and Energy announced that Yeo Han-goo, the head of the Trade Negotiation Bureau, met with Mongolia's Minister of Economic Development, Zandanshatar Enkhbayar, on June 17 in Mongolia. The meeting aimed to expand economic cooperation between the two countries and advance the Korea-Mongolia CEPA negotiations. The government is working to enhance cooperation with resource-rich countries to stabilize supply chains. This effort comes as China tightens its export controls on rare earth elements, prompting major nations to diversify their critical mineral sources. The CEPA with Mongolia is part of this broader strategy to expand supply chains. Mongolia ranks seventh in the world for copper reserves and ninth for molybdenum production, holding 16% of the global rare earth mineral deposits. This makes Mongolia a significant emerging trade partner for South Korea, which is pursuing a strategy to stabilize its critical mineral supply chains. However, there is currently no separate trade agreement to support the expansion of trade and investment between the two nations. In response, the South Korean government has been pushing for the Korea-Mongolia CEPA since November 2023. During the recent meeting, Yeo emphasized the importance of reaching an early agreement on the CEPA to accelerate economic cooperation and enhance supply chain connectivity. He also coordinated detailed positions to prepare a mutually beneficial negotiation outcome in the key areas of goods and origin under the CEPA discussions. Prior to the meeting, Yeo held a session with South Korean companies operating in Mongolia to gather feedback on specific challenges they face, such as delays in customs procedures and strict CEPA origin certification requirements. He urged the Mongolian government to actively address these concerns during the trade ministerial discussions. This is particularly relevant as Mongolia is not only developing its mineral resources but also pursuing policies for new city construction, infrastructure modernization, and digital transformation. This indicates potential opportunities for South Korean companies in sectors such as plants, construction, and ICT. Yeo Han-goo stated, "The Korea-Mongolia CEPA will serve as a key institutional foundation for expanding trade and investment between the two countries, as well as for building a stable supply chain alliance. We will accelerate negotiations to achieve mutually beneficial outcomes in the future."* This article has been translated by AI. 2026-06-17 11:04:00 -
Samsung Unveils AI-Driven Health Solutions at VivaTech 2026 Samsung Electronics revealed its vision for seamless health management through connected care on June 17 at VivaTech 2026, Europe’s largest startup and tech fair held in Paris. Under the theme “An Invitation to a Healthier Tomorrow,” the exhibition showcased solutions that leverage artificial intelligence (AI) technology, devices, and services to proactively manage health both at home and outside. Samsung’s connected care vision centers around its integrated health platform, Samsung Health, offering personalized experiences across five key areas: sleep, activity, nutrition, mental health, and vital signs. The platform connects various home appliances, including mobile devices, TVs, and other electronics, to facilitate comprehensive, personalized health management. The exhibition booth is divided into three areas: an “Ecosystem” zone showcasing core services, an “Open Care Lab” for experiencing collaborative projects, and a demonstration area. In the Ecosystem zone, the latest features of Samsung Health 7.0 are highlighted, including heart health management and aerobic exercise tracking, with Galaxy smartphones and watches seamlessly integrated. Notably, the platform from the U.S. digital healthcare company Zels, acquired last year, allows patients to continue receiving care and prescriptions from healthcare providers outside of hospital settings, presenting a next-generation digital health management blueprint. Everyday care solutions utilizing home appliances and mobile devices are also prominent. The Bespoke AI Family Hub refrigerator’s AI Food Manager manages ingredients and analyzes weekly consumption patterns to suggest recipes and shopping lists. The pet health management solution, Lifepet, uses AI to identify dental diseases and patellar luxation through simple photographs, enabling early intervention. The Open Care Lab showcases partnership achievements, including skin diagnostics through the AI Beauty Screen developed in collaboration with Amorepacific, a TV-exclusive “Visual Meditation” service created with startup Curz, and AI skin and scalp analysis solutions from in-house venture Becon. Choi Seung-eun, head of Samsung Electronics’ Global Marketing Center, stated, “Samsung Electronics provides a differentiated connected care experience based on our ecosystem that encompasses smartphones, wearables, home appliances, and TVs, along with open partnerships. We will continue to support our customers’ healthier daily lives as their health management partner.”* This article has been translated by AI. 2026-06-17 11:04:00 -
Early Heat Wave Accelerates Algal Bloom in Nakdong River, Government Holds Emergency Meeting As an early heat wave grips the region, the spread of algal blooms in the Nakdong River is accelerating, prompting the government to take action. On the morning of June 17, the Ministry of Climate, Energy and Environment held a meeting of the Central Response Team for Seasonal Algal Management at the Gangjeong-Goryeong Dam in Daegu, chaired by First Vice Minister Kim Han-seung. This meeting was convened to assess the response status of relevant agencies following the issuance of the first algal alert of the summer at the 'caution' level. Due to an early spring heat wave, algal alerts have been issued earlier than usual this year. The average national temperature in May reached 18.6°C, the highest recorded since observations began. Notably, 22 locations, including Daegu, Andong, Miryang, and Hapcheon, broke daily maximum temperature records in mid-May. Among these, the Gangjeong-Goryeong area elevated its algal alert from 'interest' to 'caution' on June 15, following the initial alert on May 18. In the past decade, algal alerts in the Nakdong River have typically been concentrated in July and August. However, due to climate change, the timing of these alerts is shifting earlier. This year, the 'caution' level was declared in mid-June, about a month earlier than usual, indicating a rapid spread of algal blooms. For instance, the cell count of blue-green algae at the Gangjeong-Goryeong site increased from 11,231 cells/mL last week to 17,014 cells/mL this week. Other locations along the Nakdong River, such as Haepyeong, Chilsseo, and Mulgeum-Maeri, are also experiencing rising blue-green algae cell counts, prompting the issuance of an 'interest' level algal alert there as well. In response, the Central Response Team for Seasonal Algal Management is reviewing the actions taken by relevant agencies and discussing future measures. The Daegu Regional Environmental Agency is working with local governments to manage and advise nearby residents to refrain from recreational activities in affected areas due to the 'caution' level alert. The National Institute of Environmental Research is analyzing both the cell counts of blue-green algae in the raw water and the concentration of algal toxins. The city of Daegu and the Korea Water Resources Corporation are enhancing water purification processes, including advanced treatment, to prevent any safety issues related to drinking water. Kim Han-seung, Vice Minister of Climate, stated, "We will minimize public inconvenience and environmental impacts caused by algal blooms. As the issuance of algal alerts has come earlier, we will respond more swiftly to ensure the safety of drinking water for residents along the Nakdong River."* This article has been translated by AI. 2026-06-17 11:04:00 -
Korea joins OpenAI on AI safety, fourth nation to do so SEOUL, June 17 (AJP) - South Korea has become the fourth country to forge a formal artificial-intelligence safety partnership with OpenAI, joining the United States, Britain and Japan in a widening network aimed at scrutinizing the risks of frontier AI. The Ministry of Science and ICT said Wednesday its AI Safety Institute and OpenAI signed a memorandum of understanding to deepen cooperation on safety assessments in high-risk domains. Under the pact, the two sides will share methodologies, benchmarks and best practices for evaluating high-risk AI applications. They will also exchange technical information to build assessment frameworks tailored to the Korean language and local social context. The MOU broadens an October 2025 cooperation agreement between the ministry and OpenAI, extending it into the safety arena. Officials said the deal grew out of two rounds of talks this year between the ministry's second vice minister and senior OpenAI figures. "As AI's impact on national core infrastructure and security grows, rigorous safety evaluation in high-risk areas is becoming not a choice but a necessity," said Kim Myung-joo, head of the AI Safety Institute. The institute, he added, would work with OpenAI to verify frontier-AI risks scientifically and help shape internationally accepted evaluation standards. Lee Sang-hyun, OpenAI's Asia-Pacific policy lead, said Korea was a pivotal market where AI adoption and innovation were advancing at pace. The institute and OpenAI plan to firm up specific tasks and timelines through working-level consultations, the ministry said. 2026-06-17 11:03:55 -
SK Square Shares Rise 5% on Expectations of Increased Shareholder Returns from SK Hynix SK Square is experiencing a 5% increase in share prices amid expectations of expanded shareholder returns from SK Hynix. According to the Korea Exchange, as of 10:30 a.m. on June 17, SK Square shares rose by 75,000 won (5.00%) to 1,576,000 won. The stock opened at 1,534,000 won, up 2.20%, and reached an intraday high of 1,612,000 won, setting a new 52-week record. The rise in stock prices is attributed to heightened speculation regarding SK Hynix's potential for increased shareholder returns. Financial analysts report that SK Hynix is currently reviewing a large-scale shareholder return plan. SK Square holds approximately 20% of SK Hynix's shares, making it a direct beneficiary of any expansion in dividends or shareholder returns. However, SK Hynix stated in a public announcement the previous day that while it is considering various shareholder return options to enhance shareholder value, no specific details regarding the scale of these returns have been finalized. Despite this, the securities market remains optimistic about SK Square's potential benefits. Choi Kwan-soon, a researcher at SK Securities, noted in a report that "the direct benefits from expanded shareholder returns due to SK Hynix's performance improvement, which is expected to begin this year, are anticipated." Choi added, "SK Square has announced plans for 200 billion won in cash dividends and 40 billion won in share buybacks for shareholder returns in 2026," and predicted that if SK Hynix increases its dividends, expectations for enhanced shareholder returns from SK Square will also rise.* This article has been translated by AI. 2026-06-17 10:48:00