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  • U.S. Ambassador to the UN Blames Biden for Depleted Military Stockpiles, Says Iran Operations Unaffected
    U.S. Ambassador to the UN Blames Biden for Depleted Military Stockpiles, Says Iran Operations Unaffected U.S. Ambassador to the United Nations Mike Waltz has attributed the decline in U.S. military stockpiles to the Biden administration, while asserting that there are sufficient weapons for operations against Iran.On July 26, Waltz appeared on NBC's "Meet the Press" and stated, "Considering the amount of support provided to Ukraine over the past 4-5 years, we need to take a step back and assess the situation," adding that many weapons stockpiles have been depleted.Waltz claimed that Defense Secretary Pete Hegseth inherited a situation of already diminished weapons from the Biden administration, noting that support for Ukraine and airstrikes targeting Houthi rebels in Yemen have contributed to the reduction in stockpiles.However, he dismissed concerns that the shortage of weapons is impacting current military operations against Iran. "Let me be clear," Waltz emphasized, "based on multiple sources, the U.S. military has everything it needs to conduct this operation effectively." Earlier, NBC News reported that U.S. military commanders are selectively choosing which targets to intercept among missiles and explosive-laden drones launched by Iran to conserve interceptor weapon stockpiles.Military experts have analyzed that even if Congress approves additional funding, it could take over four years for the U.S. to replenish depleted weapon stockpiles.Joint Chiefs of Staff Chairman Dan Cain recently stated, "If the government and Congress do not provide the necessary budget support to the Department of Defense, we will not be able to secure weapons," adding that it will become increasingly difficult to share risks between the federal government and the private sector.On July 22, House Republicans approved a budget framework of $95 billion (approximately 139 trillion won) that includes increased support for the Department of Defense. However, further procedures in the House are required, and the Senate's approval remains uncertain.Meanwhile, President Donald Trump has halted airstrikes against Iran, reportedly influenced by the shortage of U.S. missile stockpiles.* This article has been translated by AI. 2026-07-27 10:28:00
  • CJ Logistics Partners with Environmental Agency to Combat Overpacking with AI
    CJ Logistics Partners with Environmental Agency to Combat Overpacking with AI CJ Logistics is collaborating with the Korea Environmental Corporation to establish a verification system for appropriate packaging using artificial intelligence (AI).On July 24, CJ Logistics signed a memorandum of understanding (MOU) with the Korea Environmental Corporation at its headquarters in Jongno-gu, Seoul, to develop and operate an 'AI-based smart appropriate packaging system.'The two organizations aim to create a public-private partnership that reduces overpacking from the product packaging stage. CJ Logistics plans to enhance its AI appropriate packaging assessment solution, 'PackCheck,' developed by its TES Logistics Technology Research Institute. The Korea Environmental Corporation will review the suitability of PackCheck's analysis results and support the quantification of regulatory standards, the introduction of a smart appropriate packaging certification system, and on-site inspections.Currently, the verification of overpacking is largely conducted manually by certified verification agencies, which is time-consuming and costly. The introduction of an AI verification system is expected to digitalize the verification process and improve the accuracy and consistency of regulatory applications.The two organizations will also establish an 'AI Appropriate Packaging Verification Operating Committee' that includes industry, academia, experts, and civil and private organizations. This committee will be responsible for technology verification, discussions on institutional improvements, and gathering on-site feedback.Kim Jeong-hee, head of CJ Logistics' TES Logistics Technology Research Institute, stated, "We will secure the technical reliability and objectivity of PackCheck through on-site demonstrations and develop it into a standard for appropriate packaging."Meanwhile, Shin Young-soo, CEO of CJ Logistics, emphasized during a town hall meeting with employees in May that the company aims to secure future growth engines by combining logistics big data with AI technology and to take the lead in transforming the logistics industry.* This article has been translated by AI. 2026-07-27 10:24:00
  • Credit Evaluation System for Small Businesses to Begin Pilot Program Next Month with 16 Banks
    Credit Evaluation System for Small Businesses to Begin Pilot Program Next Month with 16 Banks The pilot program for a specialized credit evaluation system (SCB) for small businesses, which utilizes non-financial data such as sales, market conditions, and industry type, will expand from 7 to 16 participating banks.On July 27, the Financial Services Commission (FSC) held a meeting of the 'Inclusive Finance Strategy Promotion Team' and the 7th Credit Evaluation System Reform Task Force (TF) to review the progress of the SCB, which was announced in April.The SCB model evaluates the future growth potential of small businesses by analyzing non-financial data through artificial intelligence (AI), in contrast to traditional credit evaluations that focus on financial history. Businesses rated with high growth potential will receive a higher credit rating than their existing personal credit scores, increasing their chances of loan approval and providing benefits such as lower interest rates and higher loan limits.Initially, seven banks, including KB Kookmin, Shinhan, Woori, Hana, NH Nonghyup, and Jeju Bank, were set to participate. However, with the addition of K-Bank, Kakao Bank, Toss Bank, and several regional banks, the total number of participating banks has increased to 16. The SCB will be applied to a total of 2.2 trillion won in loans for individual businesses, with pilot operations set to begin sequentially from the end of August, depending on each bank's readiness.The FSC also plans to expand the application of the SCB. A new loan program for individual businesses, scheduled for release in October, will utilize growth ratings to offer interest rate benefits. Starting next year, the SCB will also be applied to guarantee reviews by regional credit guarantee foundations. To facilitate active use by banks, related supervisory regulations and credit review guidelines will be revised in August.Shin Jin-chang, the FSC's Secretary General, stated, "The SCB, which reflects the future growth potential of small businesses in credit evaluations using AI, represents a paradigm shift in finance that embodies both inclusivity and innovation. We will continue to enhance the system to ensure it spreads beyond the banking sector to the entire financial industry."During the meeting, the possibility of shortening the public information registration period for personal bankruptcy and discharge cases (currently five years) was also discussed. While there were opinions supporting the need for quick recovery assistance, concerns were raised about the need for careful consideration, as bankruptcy and discharge involve complete debt forgiveness, unlike personal rehabilitation. The FSC plans to continue discussions to balance the swift recovery support for debtors with the prevention of moral hazard.* This article has been translated by AI. 2026-07-27 10:24:00
  • LG Elec wins Nvidia nod, eyes bigger role in AI data centers
    LG Elec wins Nvidia nod, eyes bigger role in AI data centers SEOUL, July 27 (AJP) - LG Electronics has cleared a key hurdle in its AI infrastructure push after receiving Nvidia's qualification for its coolant distribution unit (CDU), the company said Monday. The CDU is a liquid-cooling system designed to circulate coolant through cold plates attached to GPUs and CPUs, removing heat generated by high-performance AI servers. The system is designed to complement conventional air-cooling infrastructure as power density in AI server racks continues to increase. LG said the certified system supports temperature control within ±0.25 degrees Celsius, leak detection and redundant operation designed to maintain cooling during equipment failures. The qualification allows the CDU to be deployed with Nvidia-based AI server racks widely used in hyperscale data centers. The company plans to seek Nvidia qualification for higher-capacity CDU models, including 1-megawatt (MW), 2.5-MW and 4-MW systems, as demand for larger AI data centers grows. LG is also expanding its data center thermal management portfolio to include chillers, CDUs and direct-to-chip cold plates. The company said it is pursuing supply opportunities for AI data center projects, including facilities being developed by affiliate LG CNS. 2026-07-27 10:23:21
  • James Kim, AMCHAM Chairman, Warns of Burden from Prolonged Trade Conflicts
    James Kim, AMCHAM Chairman, Warns of Burden from Prolonged Trade Conflicts "As trade conflicts prolong, both Korean and American companies and consumers will bear the burden," said James Kim, chairman of the American Chamber of Commerce in Korea (AMCHAM), in an interview with Aju Economy. Amid rising trade tensions due to the implementation of Section 301 tariffs by the U.S., Kim emphasized the need for dialogue and negotiation to resolve trade issues. He stated, "It is more important to enhance the competitiveness of both countries than to focus on winning or losing in trade disputes." On July 24, the U.S. applied Section 301 tariffs to 60 trading partners, including South Korea, citing regulations against imports produced with forced labor. As a result, products from South Korea that fall under non-exempt categories and have a Most Favored Nation (MFN) tariff rate below 12.5% will now face a total tariff rate of 12.5%. However, items subject to Section 232 of the Trade Expansion Act, such as automobiles, steel, and aluminum, are excluded. Kim noted, "The economies of South Korea and the U.S. are closely interconnected through investment, supply chains, and advanced manufacturing. If trade conflicts persist, it will inevitably affect not only Korean companies but also American businesses operating in Korea." He expressed concern that as government communication improves, companies can continue to invest and operate more stably, warning that an expansion of tariffs and retaliatory measures would ultimately burden businesses, consumers, and investors. Regarding the recent data breach incident involving Coupang and discussions surrounding Section 301 in the U.S., Kim took a cautious stance. He stated, "It is necessary to distinguish between the various opinions coming from Washington and the official position of the U.S. administration," and expressed hope that the Korean government and Coupang would find a reasonable solution through dialogue to avoid unnecessary burdens on the overall Korea-U.S. relationship. He also emphasized the importance of evaluating Coupang's contributions to domestic investment and employment. "Coupang has played a significant role in Korea-U.S. economic cooperation through continuous investment and large-scale employment," he said. Kim highlighted that the core of government regulation lies not in the quantity of regulations but in predictability and fairness. He stated, "When policy goals are clear and regulations are applied transparently and consistently, companies can make long-term investment decisions," adding that regulations on digital platforms should not be perceived as non-tariff barriers targeting specific American companies but should operate based on objective principles. He described AMCHAM's role as a bridge connecting Seoul and Washington, as well as government and businesses. AMCHAM conducts an annual 'Washington Doorknock' to meet with U.S. government officials, and this year, it also initiated the 'K-Doorknock' with direct participation from Korean companies. Kim concluded, "In a rapidly changing trade environment, direct communication is more important than ever. AMCHAM will continue to contribute to the advancement of Korea-U.S. economic cooperation through its role as a bridge between government and businesses." 2026-07-27 10:20:00
  • Democratic Party Lawmakers Accept Party Stance Against Abolishing Prosecutorial Investigative Powers
    Democratic Party Lawmakers Accept Party Stance Against Abolishing Prosecutorial Investigative Powers Lawmakers Hong Gi-won and Kim Nam-hee of the Democratic Party, who had publicly opposed the abolition of prosecutorial supplementary investigation powers, expressed their intention to accept the party's adopted stance. They also commented on Justice Minister Jeong Seong-ho's resignation, stating, "This is something I have heard about for a long time. It is something he must clarify himself."Both lawmakers responded to the approval of a bill to abolish supplementary investigation powers during a Democratic Party policy meeting on July 24, emphasizing, "In the Democratic Party, we must follow the party line."On July 27, Hong appeared on KBS Radio's 'Current Affairs' program, noting that the decision to abolish supplementary investigation powers was made without significant dissent during the meeting. He added, "We decided to reflect all cases of the seven major crimes targeting vulnerable groups. We have also strengthened oversight mechanisms over the police through rights to meet with prosecutors and to hear opinions."Kim echoed this sentiment on MBC Radio's 'Kim Jong-bae's Focus,' highlighting the intense deliberation process at the party level. He stated, "We adopted the party line through vigorous discussions. In the Democratic Party, we must follow the party line."Kim specifically mentioned that a dedicated team for supplementary investigations will be established within the Serious Crimes Investigation Agency to protect victims' rights. He asserted, "If the police cannot conclude a case and there are issues, there is now a procedure to request supplementary investigations. The right to request supplementary investigations has been strengthened."They also addressed Justice Minister Jeong's recent announcement of his intention to resign, stating, "I have heard about his intention to return to the National Assembly for a long time."Hong noted, "I have been hearing about his intention to step down for several months," but praised Jeong for maintaining his convictions. Kim added, "He has repeatedly mentioned his desire to return to the National Assembly," but clarified that any specific details should come directly from Jeong.* This article has been translated by AI. 2026-07-27 10:16:00
  • AI deal euphoria steadies KOSPI and lifts KOSDAQ
    AI deal euphoria steadies KOSPI and lifts KOSDAQ SEOUL, July 27 (AJP) -The big-tech-studded AI spectacle President Lee Jae Myung wrapped up in San Francisco last Friday helped South Korean shares recover on Monday, though the rebound fell well short of offsetting the nearly 6 percent plunge in the previous session. The KOSPI rose 0.7 percent, or 44.9 points, to 6,735.5, led by SK hynix and Samsung Electronics after their AI partnerships with Nvidia and Broadcom. The tech-heavy KOSDAQ outperformed, climbing 3.2 percent to 772.0, as investors also welcomed Lee's meeting with Silicon Valley's leading venture capital firms aimed at attracting investment into Korean startups. The rebound, however, lacked conviction as foreign investors remained sellers. Investors viewed the summit announcements — highlighted by an SK hynix partnership with Nvidia valued at more than $500 billion and a Samsung Electronics memorandum with Broadcom worth up to $200 billion — as fresh confirmation that Korean memory makers remain central to the global AI infrastructure buildout. The gains in the two chipmakers were relatively modest given the scale of the announcements. Samsung Electronics rose 1.3 percent to 252,750 won ($172.9), while SK hynix edged up 0.3 percent to 1,764,000 won ($1,206.8). Foreign investors were not buying the rally. They sold a net 785 billion won worth of shares on the main board through mid-morning, while institutions also remained net sellers, limiting the market's rebound. Not all heavyweight stocks participated. SK Square fell 2.5 percent to 1,081,000 won ($739.5), while Hanwha Aerospace lost 4.3 percent to 937,000 won ($641.0) as investors locked in profits from recent gains in defense shares. Elsewhere in Asia, Japan's Nikkei 225 was little changed, slipping less than 0.1 percent. The Korean won traded at 1,461.70 per dollar, marginally firmer than the previous session. 2026-07-27 10:14:21
  • BIBIs Controversial Performance at Waterbomb Seoul 2026 Sparks Debate
    BIBI's Controversial Performance at Waterbomb Seoul 2026 Sparks Debate Singer BIBI's bold performance at the 'Waterbomb Seoul 2026' stage has ignited a heated debate online. Critics, particularly from female communities, have expressed concerns that the performance crossed the line, while others argue that it aligns with the event's nature.BIBI took the stage on July 25 at the outdoor global stage of KINTEX in Goyang, South Korea.The released performance video shows BIBI kneeling and slowly unzipping her top. The footage also includes scenes of her surrounded by male dancers continuing the choreography.As the video circulated online, negative reactions emerged from female communities.Internet users commented, "This reminds me of Sabrina Carpenter, who faced backlash for similar reasons in the West," "This has crossed the line," "Isn't this just a strip show?" "It looks vulgar," "There’s no sense of moderation," "This is a strip show, what does it have to do with Waterbomb?" "Must it be so degrading?" "Is this the only way to get attention?" "What is she doing?" "This is disgusting," "Her expression and actions resemble those of an adult film star," and "Shouldn't this be subject to obscenity laws? She should be arrested immediately."Others voiced concerns about the decline of women's rights, stating, "This sounds like a drop in women's rights," "How is this different from female streamers?" "There’s no need to defend female celebrities," "It’s always too excessive," "She’s already impressive with her talent, why lower herself like this?" "This seems to be her idea of beauty," "I like her, but I get annoyed every time she does something like this," and "This is a complete violation of women's rights."Conversely, some defended the performance, arguing that it was not a sudden change.Supporters pointed out that BIBI has been showcasing similar concepts in her performances for about four years, sharing past performance videos that included similar scenes of her removing her top during shows.In response, other users remarked, "This is what she has always done at Waterbomb, yet now it’s labeled a strip show," "She did well and received recognition," "It’s funny to say that wearing a bikini at Waterbomb undermines women's rights," and "Male artists perform even more provocative acts, yet that doesn’t spark controversy."This debate not only centers on BIBI's recent Waterbomb performance but also brings past performance videos into the spotlight, raising discussions about the boundaries of performance and freedom of expression.* This article has been translated by AI. 2026-07-27 10:12:00
  • Hyundai Rotem Shares Plunge Over 15% Following Earnings Shock
    Hyundai Rotem Shares Plunge Over 15% Following Earnings Shock Hyundai Rotem's shares fell more than 15% in early trading after the company reported second-quarter results that fell short of market expectations. Analysts have also lowered their target prices amid concerns over declining performance and delays in export contracts.As of 10:05 a.m. on July 27, Hyundai Rotem's stock was trading at 133,600 won, down 24,800 won (15.66%) from the previous trading day. During the session, the stock dropped to 134,600 won, marking a 52-week low.On July 24, Hyundai Rotem announced that its consolidated operating profit for the second quarter was 232.4 billion won, a 9.7% decrease compared to the same period last year. Revenue for the same period rose 13.3% to 1.606 trillion won.Following the earnings announcement, several securities firms quickly adjusted their target prices downward.Shinhan Investment Corp. described Hyundai Rotem's second-quarter results as an 'earnings shock,' lowering its target price to 230,000 won. Analyst Lee Dong-heon noted, "Revenue fell 5% and operating profit was 14% below consensus, indicating that despite growth in size, profit increases did not meet expectations."Korea Investment & Securities also revised its target price down to 270,000 won. Analyst Jang Nam-hyun stated, "The second-quarter operating profit was 14% below consensus, and delays in securing new export contracts have been noted. Additionally, negotiations for the Iraq project, which were expected to conclude in the first half of the year, have been halted due to the ongoing conflict in the Middle East." He added, "As a result, we have adjusted our annual operating profit estimate for next year from 1.7891 trillion won to 1.4371 trillion won, a reduction of 19.7%."* This article has been translated by AI. 2026-07-27 10:12:00
  • Jang Dong-hyuk Calls for Special Investigation into Voting Rights Scandal
    Jang Dong-hyuk Calls for Special Investigation into Voting Rights Scandal Jang Dong-hyuk, leader of the People Power Party, urged for the swift establishment of a special investigation on July 27, stating, "Everyone who has been complacent about the voting rights scandal is an accomplice."Jang referenced the recent joint investigation by the police and prosecutors, which involved a search of the Central Election Commission (CEC) over allegations of data manipulation. He stated, "If vote manipulation is possible, it means that any data, including vote counts, can be manipulated. Now, what numbers can the public trust?"He added, "Data manipulation has been revealed not only in Gyeonggi Province but also in Chungcheong Province. There is evidence that the CEC issued directives in this regard." He criticized the court for dismissing a search warrant for key evidence related to messaging apps for reasons that he deemed unacceptable.Regarding the CEC's election appeal hearing taking place that day, he noted, "The CEC ultimately refused to broadcast the proceedings live. The public will be outraged and will not forgive the CEC for refusing live coverage, the Democratic Party for delaying the public investigation, and the court for dismissing the warrant for the messaging app."Additionally, Jang criticized Prime Minister Han Seung-soo for presiding over a real estate policy forum on the same day, saying, "What kind of forum can a Prime Minister, who has no words to say about real estate, hold?" He pressed that the government has failed to present any solutions despite worsening housing statistics, such as the youth homeownership rate.Shin Dong-wook, the party's senior council member, remarked, "It seems that they are creating various distractions to raise property taxes. Instead of that, they should honestly say, 'The government will significantly raise property taxes and use that money for specific purposes.' The judgment on that should be left to the public."* This article has been translated by AI. 2026-07-27 10:12:00