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  • Review of Ray-Ban Meta: Comfortable Wear, AI Challenges in Korean
    Review of Ray-Ban Meta: Comfortable Wear, AI Challenges in Korean "Hey Meta, look and describe this." When I issued the voice command while wearing the glasses, Meta's AI, formerly known as Facebook, described the scenery in front of me within seconds. It recognized not only the food on the table but also the clutter on the drawer, relaying the information audibly. This is the world of smart glasses, where I see alongside artificial intelligence.Starting July 22, South Korea's three major telecom companies, including SK Telecom, began selling Meta's AI glasses, the Ray-Ban Meta.The Ray-Ban Meta is a product co-developed by Meta and global eyewear company EssilorLuxottica. The product features Ray-Ban's iconic styles: Wayfarer, Skyler, and Headliner, and boasts a battery life of up to eight hours.While slightly heavier than regular glasses, they are comfortable for extended wear. After pairing with a smartphone via a dedicated app, users can take photos and videos using a small capture button located on the arm of the glasses. A touchpad on the arm allows users to swipe through music or adjust the volume.Notably impressive is the camera performance, capable of capturing 12MP photos and 3K Ultra HD videos. The clarity is remarkable for a wearable device, making it ideal for travel, vlogging, and everyday documentation. Photos can be transferred directly to a smartphone via Wi-Fi, and uploading to the cloud is also possible.In terms of AI functionality, it responded naturally to English commands, but recognition of Korean voice commands was less effective. To use Korean, additional data needed to be downloaded, but errors prevented access. In English, I was able to converse with the AI while walking, asking real-time questions and translating Japanese signs or menus.The three telecom companies plan to accelerate the expansion of their AI device lineup, starting with the Ray-Ban Meta. SK Telecom has begun sales through its official online store and offline locations. KT has already started selling online and will expand to general dealerships nationwide starting August 3. LG Uplus has also begun selling the Ray-Ban Meta and plans to expand its lineup of wearable devices, introducing products linked to communication services.* This article has been translated by AI. 2026-07-26 16:36:00
  • Housing Prices Diverge in Seoul and Dongtan, Gyeonggi Province
    Housing Prices Diverge in Seoul and Dongtan, Gyeonggi Province Housing prices in Seoul have seen a slight slowdown this month, while the northern districts continue to rise. In contrast, Dongtan in Hwaseong, Gyeonggi Province, recorded a price increase of over 6%, marking the highest rise in the country, indicating a mixed trend in housing prices across the metropolitan area.According to KB Real Estate's report on national housing price trends released on July 26, as of July 13, the average sale price of apartments in Seoul increased by 1.05% compared to the previous month. Although this is a decrease of 0.02 percentage points from last month’s 1.07%, the growth remains in the 1% range.The rise in northern Seoul has been particularly notable, with Jungnang-gu (2.08%) and Gangbuk-gu (2.01%) both exceeding 2%. Other districts such as Seongbuk-gu (1.85%), Nowon-gu (1.60%), Gangseo-gu (1.59%), Seodaemun-gu (1.54%), and Dongdaemun-gu (1.44%) also reported significant increases.In Gyeonggi Province, the upward trend has accelerated. Apartment prices in the province rose by 0.87%, a notable increase from last month’s 0.65%.Specifically, Dongtan in Hwaseong saw a remarkable increase of 6.25%, achieving the highest growth rate nationwide. This follows a 4.16% rise last month, setting a new record for the area.Other areas in Gyeonggi Province also showed strong growth, including Suwon Yeongtong-gu (3.06%), Gwangmyeong (2.52%), Guri (2.29%), Yongin Suji-gu (1.94%), Hanam (1.74%), and Seongnam Jungwon-gu (1.70%).In Incheon, prices turned around from a decrease of -0.09% last month to an increase of 0.04% this month. Nationwide, apartment sale prices rose by 0.41%, an increase from last month’s 0.33%, marking two consecutive months of growth.The high-end apartment market also continued its recovery. The KB Leading Apartment 50 index, reflecting changes in the top 50 apartments by market capitalization, rose by 0.38% compared to the previous month, a larger increase than last month’s 0.14%. Since the end of the tax exemption for multiple homeowners on May 9, prices for high-end apartment complexes have shown a rising trend for two consecutive months.Jeonse prices also maintained an upward trajectory. The average jeonse price for apartments in Seoul increased by 1.34%, slightly down from last month’s 1.43%. Significant increases were noted in Gangdong-gu (2.45%), Seongbuk-gu (2.37%), Jungnang-gu (2.25%), Geumcheon-gu (2.19%), Gangbuk-gu (2.14%), Nowon-gu (1.89%), and Gwangjin-gu (1.68%).Both Gyeonggi Province (0.86%) and Incheon (0.32%) also experienced increases in jeonse prices, with the national average rising by 0.53%.Including apartments, multi-family homes, and single-family homes, the national housing sale price increased by 0.29% compared to the previous month. Apartments (0.41%) and multi-family homes (0.12%) saw increases, while single-family homes remained stable at 0.00%. The national average jeonse price rose by 0.34%, with Seoul (0.81%), Gyeonggi Province (0.66%), and Incheon (0.21%) all continuing their upward trends.Expectations for the market have somewhat diminished. The national sale price outlook index fell by 0.2 points to 107.8, while the Seoul sale price outlook index dropped by 1.3 points to 124.0. The Seoul index had risen for three consecutive months before experiencing a slight decline this month.Meanwhile, the median sale price of apartments in the 11 districts of Gangnam, Seoul, was recorded at 1.625 billion won, with a median jeonse price of 708.33 million won. The average jeonse price was 811.04 million won.The price gap between the top 20% and bottom 20% of apartments, indicated by Seoul's quintile ratio, stood at 6.4, marking a decline for five consecutive months. This is attributed to the relatively strong price increases in areas with a concentration of mid- to low-priced apartments.Additionally, the rise in jeonse prices in Seoul appears to be spreading to Gyeonggi Province. According to KB Real Estate, jeonse prices increased in Dongtan, Hwaseong (0.70%), Guri (0.64%), Gwangmyeong (0.52%), and Hanam (0.44%). This trend is believed to be influenced by the demand for jeonse from those moving from Seoul and the waiting demand for purchases in areas with good accessibility to Seoul.* This article has been translated by AI. 2026-07-26 16:28:00
  • South Korean Companies Accelerate Investments in U.S. Amid AI Boom
    South Korean Companies Accelerate Investments in U.S. Amid AI Boom South Korean companies are reportedly accelerating investments and acquisitions in U.S. firms, fueled by a boom in artificial intelligence (AI).The Financial Times (FT) reported on July 24 that South Korean companies, bolstered by increased cash reserves from the AI surge, are actively pursuing investments and acquisitions in the U.S. to secure advanced technologies and avoid tariff burdens imposed by the Trump administration.According to data from South Korea's Ministry of Economy and Finance cited by FT, direct investment by South Korean companies in the U.S. reached $10.2 billion in the first quarter of this year, more than double the amount from the same period last year. This marks the largest investment in five years. Last year's total direct investment in the U.S. also increased by about 15% to $25.7 billion.Sushil Bhatia, head of M&A for Goldman Sachs in the Asia-Pacific region (excluding Japan), stated, "AI is fundamentally changing the way M&A transactions are conducted globally. If the U.S. is the center of innovation, then South Korea is at the heart of that in Asia." He added, "South Korea is well-positioned to invest in suitable companies across the supply chain, backed by abundant capital."This investment surge is led by Samsung Electronics and SK Hynix, which are considered the biggest beneficiaries of AI infrastructure development. The stock prices of both companies have more than tripled over the past year, and their combined operating profit is expected to reach a record $400 billion this year.Last month, Samsung participated in a $100 million investment in AI data center cooling technology firm Jutacore. In the previous year, it also invested $750 million in AI semiconductor startup Groq.SK Hynix announced plans in January to invest $10 billion in U.S. innovative companies and collaborate with them. Last year, it participated in a $120 million investment in U.S. startup Abecena, which develops optical connection technology to enhance energy efficiency in AI systems.South Korean companies are also continuing to acquire U.S. tech firms. Samsung agreed to acquire the U.S. healthcare platform Xealth last year, while Doosan Robotics acquired an 89.6% stake in U.S. automation firm ONExia in Pennsylvania in 2025.Investment activities are not limited to semiconductors. Financial industry insiders report that South Korean companies in shipbuilding, robotics, biotech, and advanced manufacturing are also considering acquisitions of local firms to address geopolitical risks and enter the U.S. market.Jang Tae-won, co-head of North Asia M&A at JP Morgan, noted, "Just a few years ago, cash-rich Chinese companies were aggressively acquiring Western assets at a premium. However, as U.S.-China relations have changed, Chinese firms are now effectively excluded from acquiring major U.S. assets."He added, "Now is the golden era for South Korean companies in U.S. M&A, driven by strong cash flow, the need for supply chain reshoring, and demands for market access, prompting them to pursue larger and transformative deals."* This article has been translated by AI. 2026-07-26 16:28:00
  • Lee Jae-yong Meets Sam Altman to Strengthen AI Infrastructure Cooperation, Anticipates Ten Years Without a Downturn for K-Semiconductors
    Lee Jae-yong Meets Sam Altman to Strengthen AI Infrastructure Cooperation, Anticipates 'Ten Years Without a Downturn' for K-Semiconductors Lee Jae-yong, chairman of Samsung Electronics, and Sam Altman, CEO of OpenAI, met in the U.S. in a significant move symbolizing the restructuring of the global artificial intelligence (AI) semiconductor supply chain. As U.S.-South Korea cooperation on next-generation AI infrastructure becomes more visible, concerns about a peak-out in the domestic semiconductor industry are expected to ease considerably.According to industry sources on July 26, the collaboration between Samsung Electronics and OpenAI is expanding beyond high-bandwidth memory (HBM) and DRAM supply to encompass the entire value chain, including advanced foundry processes. To operate OpenAI's next-generation super-large AI models, high-performance memory and customized semiconductor manufacturing capabilities are essential. Samsung's turnkey solutions, which provide everything from design to production and advanced packaging, are seen as a key focus of these discussions.The meeting between Lee and Altman is part of efforts to quickly eliminate uncertainties in semiconductor supply and secure stability. For OpenAI, which needs to continue enhancing its large language models (LLMs), securing a large volume of semiconductors is a top priority. This is why there are expectations that a long-term supply agreement (LTA) between OpenAI and Samsung Electronics is imminent amid a global memory supply shortage.If a major LTA is confirmed, Samsung will secure a long-term supply source for high-value HBM and lay the groundwork for expanding orders in the foundry and advanced packaging sectors. This could create synergies by increasing the operational rates of the 2nm advanced foundry line in Pyeongtaek and the advanced packaging (AVP) process in Cheonan.There is growing optimism about an unprecedented 'ten years without a downturn' in the domestic semiconductor industry. Following the 'San Francisco AI Summit,' Samsung entered into a five-year long-term supply agreement with Broadcom and is currently negotiating with several big tech companies for advanced memory supply agreements. While initial contract periods typically last around five years, considering new line expansions, process stabilization, and next-generation chip development cycles, the collaboration is expected to last over ten years.SK Hynix is in a similar situation. Companies like NVIDIA, Microsoft, and Google are offering substantial advance payments to secure HBM production lines and are requesting increased volumes. In its first-quarter earnings report, SK Hynix stated, "Demand from customers for the next three years has already exceeded our production capacity (CAPA)," noting a surge in requests for long-term supply agreements for both sixth-generation HBM (HBM4) and seventh-generation HBM (HBM4E).Experts predict that the expansion of big tech collaborations centered around LTAs led by Samsung Electronics and SK Hynix will significantly alleviate the chronic volatility of the domestic semiconductor industry.Ahn Gi-hyun, executive director of the Korea Semiconductor Industry Association, stated, "LTAs that involve large advance payments and volumes greatly enhance the profit predictability for domestic semiconductor companies," adding that this could be a decisive factor in breaking the cycle of 'chicken game' that has led to massive losses during past downturns.* This article has been translated by AI. 2026-07-26 16:16:00
  • Lee Jae-yong Meets OpenAI CEO Sam Altman at Company Headquarters
    Lee Jae-yong Meets OpenAI CEO Sam Altman at Company Headquarters Lee Jae-yong, the chairman of Samsung Electronics, met with Sam Altman, CEO of OpenAI, at the company's headquarters in San Francisco, California. The two leaders are tightening their collaboration to build a next-generation AI semiconductor supply chain. According to industry sources on July 26, Lee visited OpenAI's headquarters on July 25 (local time) for a high-level meeting with Altman. This meeting followed the postponement of Altman's planned visit to South Korea in June, prompting Lee to travel to the U.S. for the discussion. The two sides reportedly focused on expanding the supply of high-bandwidth memory (HBM) and advanced DRAM, which are crucial for operating large-scale AI models. There was significant exchange of ideas regarding stable supply measures for semiconductors, including long-term supply agreements (LTA), which had been discussed since Altman's proposed visit to South Korea. They also explored collaboration on manufacturing next-generation AI chips using foundry processes. Samsung Electronics is currently implementing a full-scale introduction of ChatGPT and the AI coding tool Codex across all its employees. There are indications that potential collaboration with OpenAI was also considered during Samsung's AI transformation (AX) process. Since establishing a strategic partnership last October, Samsung Electronics and OpenAI have continued to collaborate on expanding advanced memory supply and building next-generation AI infrastructure. Industry experts anticipate that this meeting in the U.S. will further broaden the scope of technological and supply chain cooperation between the two companies.* This article has been translated by AI. 2026-07-26 16:08:00
  • Demand Shifts Amid Bank Loan Regulations; Shinhyup Limits Online Loans
    Demand Shifts Amid Bank Loan Regulations; Shinhyup Limits Online Loans As major banks tighten household loan management, borrowers struggling to secure funds are turning to other banks with more lending capacity. In response, some financial institutions are beginning to limit the sale of online loan products to manage demand.On July 26, Shinhyup Bank temporarily suspended new sign-ups for its 'Sh Dream Unsecured Loan' product through loan comparison platforms like Toss and Bank Salad. This online product, which offered up to 230 million won in unsecured loans and a maximum of 50 million won for overdraft accounts, was restricted due to anticipated high demand.A Shinhyup Bank official stated, "When applications for online products surge simultaneously through the app, it becomes difficult to manage the limits, so we have halted product exposure on loan comparison platforms. The limits set by household loan management regulations are gradually being exhausted."However, Shinhyup Bank continues to sell loans through its website and app with a daily handling limit. Additionally, some loan products, such as the 'Sh Easy e-Mortgage' with a maximum loan-to-value (LTV) ratio of 70% and the 'Hey Jeonse Fund Loan' available up to 500 million won, have also suspended online applications.This shift in demand to other financial institutions is attributed to major banks having exhausted a significant portion of their annual household loan growth targets while raising lending thresholds. According to the Bank of Korea's economic statistics system, the balance of housing-related loans from non-bank deposit-taking institutions, such as savings banks and mutual finance, increased by 10.5% (14.1 trillion won) to 148.1 trillion won at the end of May compared to the end of last year. The increase in household loans from insurance companies also rose slightly from 900 billion won in May to 1 trillion won in June.Seo Ji-yong, a professor at Sangmyung University, noted, "The decision by Shinhyup Bank to set limits on online loan products is a balloon effect caused by the tightening of loans at major banks, leading demand to shift to other financial institutions. As authorities expand total volume regulations to include mutual finance and savings banks, it is likely that we will see a 'soft' balloon effect where demand shifts rather than a 'strong' balloon effect where it concentrates in one place." 2026-07-26 16:04:00
  • Cortis Surpasses 1 Billion Streams on Spotify Ahead of Debut Anniversary
    Cortis Surpasses 1 Billion Streams on Spotify Ahead of Debut Anniversary The group Cortis has surpassed 1 billion streams on Spotify. As of July 24, Cortis achieved a total of 1,000,060,000 streams on the global audio and music streaming platform Spotify. This figure includes all tracks released to date, including their first two mini-albums and the song "Mention Me" from Sony Pictures Animation's 'GOAT.' After recording 900 million streams on Spotify on July 4, Cortis added another 100 million streams in less than a month. This marks the highest streaming count among boy groups that debuted in the last five years. The achievement is particularly significant given it comes from just two albums and 13 songs. Cortis's monthly listeners on Spotify have exceeded 12.7 million. The largest number of listeners comes from the United States, followed by Indonesia, South Korea, the Philippines, Brazil, and Japan. The title track of their second mini-album, "RedRed," is driving their popularity. Released on April 20, the song has accumulated 160 million streams in about three months. Even after concluding their broadcast activities, it maintains around 1.4 million streams per day. Previous tracks continue to enjoy steady popularity as well. The song "Go!" from their first mini-album has recorded 216 million streams, while "FaSHioN" has surpassed 198 million streams. Chart performance remains strong. "RedRed" has held the top spot on Spotify's 'Weekly Top Songs Korea' chart for 13 consecutive weeks. It has also reached 119th on the 'Top Songs Global' chart weekly and 161st daily, remaining on the chart for 13 weeks and 94 days, respectively. Cortis will continue their activities with offline performances. They are set to take the stage at the Lollapalooza Chicago music festival from July 31 to August 1. Following that, they will embark on their first tour, '2026 Cortis Tour: Put Your Phone Down,' starting in Toronto, Canada, on August 4, covering six cities in North America. They will also hold a concert to celebrate their first anniversary on August 22-23 at Korea University's Hwajeong Gymnasium in Seoul.* This article has been translated by AI. 2026-07-26 16:00:00
  • Developer Eleven Construction Returns to Profit Amid UN Base Project
    Developer Eleven Construction Returns to Profit Amid UN Base Project Eleven Construction, a leading domestic developer focused on the Yongsan UN Command site, has returned to profitability for the first time in three years. The company reported a consolidated net profit exceeding 180 billion won, driven by the performance of its key subsidiary, Yongsan Eleven. However, over 100 billion won in cash flowed out from operating activities. To translate this accounting rebound into real financial improvement, the company must recover funds from office-tel sales and residential rental deposits to reduce its 1.3 trillion won in project financing (PF).According to an audit report disclosed on the Financial Supervisory Service's electronic disclosure system on July 26, Eleven Construction recorded consolidated sales of 407.6 billion won and a net profit of 183.7 billion won last year, marking a return to profit after consecutive losses since 2022.The rebound in performance was largely attributed to Yongsan Eleven, a special purpose company (SPC) responsible for the UN Command site development. Yongsan Eleven recognized sales from office-tel sales last year, generating 216.1 billion won in revenue and a net profit of 133.2 billion won. A significant portion of the consolidated net profit stemmed from the Yongsan project.The net profit also reflected the recognition of deferred tax assets related to carryforward losses. As the potential for taxable income arises, corporate tax expenses decrease, leading to an increase in net profit. While operating profit improved, it is important to note that the entire increase in net profit cannot be viewed as a direct result of cash inflow from operations.Amid a sluggish real estate market and tightening in the PF sector, Eleven Construction has focused its efforts on the UN Command site development rather than expanding into new projects. The company's flagship project, 'The Parkside Seoul,' is a mixed-use development that includes residential units, office-tels, hotels, and commercial facilities on a 44,935 square meter site in Itaewon, Yongsan District, purchased from the Korea Land and Housing Corporation (LH) for 1.05 trillion won in 2017. Hyundai Engineering & Construction is overseeing the construction, which is expected to be completed in 2027.The first test of this strategy was the high-end office-tel 'The Parkside Suite,' which recorded an average subscription competition rate of 1.67 to 1 last year. However, the project's success will depend on the speed of actual contracts and the collection of sales proceeds. Timely receipt of down payments, interim payments, and final payments is crucial for smooth repayment of PF principal and interest and for subsequent construction costs.The company's next major focus is a residential project comprising 420 units. This high-end housing product, primarily featuring larger units, is set to be offered under a private rental scheme in September. The structure involves operating the units as rentals for a period before converting them to sales.By supplying the units as private rentals, the company can set prices according to market conditions and product appeal, avoiding the constraints of price ceilings. However, the immediate cash flow will depend more on the rental deposits collected from tenants than on the future conversion price. The timing of the residential supply and the influx of deposits coincides with the maturity of the PF, making the securing of rental demand a key variable for improving the financial structure.Despite the accounting profit, cash flow remains a concern. Last year, the consolidated cash flow from operating activities recorded a net outflow of 106.7 billion won, marking the third consecutive year of negative cash flow. This indicates that the funds invested in business expenses and construction costs exceeded the cash generated from operations.Inventory assets also exceed 2 trillion won. According to the audit report, unfinished housing amounts to 565.4 billion won, while land holdings total 1.2352 trillion won. Accounts receivable from sales also stand at 160.9 billion won, indicating a lag between recognized sales and actual cash inflow.Consolidated borrowings are approximately 1.7 trillion won, with a debt ratio around 200%. Funds borrowed from related parties have also increased to about 100 billion won. The main PF for the Yongsan development, amounting to 1.3 trillion won, is set to mature in 2027.The speed at which cash generated from the UN Command site is applied to reduce borrowings will significantly impact interest burdens and the capacity for new projects. Delays in collecting final payments from office-tel sales and rental deposits for the residential units could lead to increased financial costs during the maturity extension or refinancing process.Cash recovery is also needed from existing projects outside Yongsan. There are still unsold units and accounts receivable in the 'Parkrest Haenam' project in Jeonnam and the 'Gochon Central Xi' project in Gimpo, Gyeonggi Province. Even if substantial profits are recognized from Yongsan, the overall improvement in cash flow for the company may be limited if funds remain tied up in other projects.Through its focused approach to the UN Command site, Eleven Construction has succeeded in achieving a rebound on its income statement. However, with over 2 trillion won in inventory assets and 1 trillion won in PF remaining, the completion of its recovery will depend on the actual cash inflow rather than just sales and net profit.If the collection of office-tel sales proceeds and residential rental deposits leads to PF repayments and a reduction in borrowings, the UN Command site could remain a flagship project that rescued Eleven Construction from crisis. Conversely, delays in cash recovery could increase the company's exposure to risks tied to the timelines of a single project and the financial market conditions.* This article has been translated by AI. 2026-07-26 15:56:00
  • Trump Orders Halt to Airstrikes Against Iran After 13 Days
    Trump Orders Halt to Airstrikes Against Iran After 13 Days President Donald Trump has ordered U.S. forces to halt airstrikes against Iran, bringing to an end a 13-day campaign of attacks. This decision comes amid concerns about the depletion of missile stockpiles in the Middle East and progress in negotiations through Oman, raising questions about whether the recent military conflict will shift to a diplomatic phase.According to Axios, on July 24, Trump received a report on planned airstrikes from the military but chose not to approve them, instructing that no attacks be carried out. As a result, the airstrikes, which had been ongoing for 13 consecutive days, were stopped.In recent weeks, Trump had approved daily airstrike plans submitted by the military, with attacks typically occurring within hours of approval. While the military continues to prepare plans for resuming airstrikes and large-scale military operations, sources indicate that Trump has not yet given his approval for these actions.Concerns about the depletion of air defense missile stockpiles in the region also played a role in the decision to halt airstrikes. The New York Times reported that on July 24, General Dan Kane, Chairman of the Joint Chiefs of Staff, warned during a private meeting with Trump and his advisors that resuming large-scale military operations against Iran could deplete U.S. interceptors to dangerous levels.Just days prior, Pentagon officials and military commanders believed Trump was likely to approve the first phase of a multi-step bombing campaign against Iran. The Defense Department had also deployed additional military assets, including aerial refueling aircraft, to the Middle East. In an interview with Axios on July 23, Trump stated, "We are considering a larger attack than ever before" and added, "We are fully prepared." However, the military leadership's concerns about further depleting air defense assets, such as Patriot missiles, appear to have led Trump to postpone the bombing plans, according to the New York Times.This order to halt airstrikes came shortly after an Omani negotiating team arrived in Tehran to discuss the reopening of the Strait of Hormuz. A source familiar with the negotiations told Axios that there is a possibility of an agreement between Oman and Iran over the weekend. If an agreement is reached, Trump's acceptance of it could be a key factor in determining whether airstrikes will resume.Trump has also expressed a preference for negotiation over military action. Speaking to reporters on July 24, he said, "A wiser strategy is to negotiate with Iran," adding, "We are talking to them now." During a dinner with White House correspondents that same day, he noted, "I don’t think Iran is ready to negotiate right now, but they are willing to listen." Despite the halt in airstrikes, the U.S. maintains a full maritime blockade against Iran. U.S. Central Command (CENTCOM) announced via social media on July 25 that it had redirected the routes of 12 commercial vessels attempting to breach the blockade and neutralized two vessels that did not comply with orders, while boarding two others to verify compliance with the blockade. 2026-07-26 15:48:00
  • Ukraine Attacks Iranian Vessel in Caspian Sea, One Crew Member Killed
    Ukraine Attacks Iranian Vessel in Caspian Sea, One Crew Member Killed An Iranian vessel was attacked by Ukraine in the Caspian Sea, resulting in the death of one crew member and injuries to another.According to the Financial Times, the Iranian Foreign Ministry reported that an explosion occurred on the Iranian vessel due to the Ukrainian attack early on July 25.The Iranian Foreign Ministry stated, "Iran will not hesitate to defend itself," and called on European nations to hold Ukraine accountable if they are genuinely concerned about the escalation of conflict in the Middle East.Ukraine has also acknowledged attacking a vessel linked to Iran in the Caspian Sea. Ukrainian President Volodymyr Zelenskyy announced on X (formerly Twitter) that they targeted a ship used for transporting military cargo related to Iran and Russian warships.However, it has not been immediately confirmed whether the vessel mentioned by President Zelenskyy is the same one reported by the Iranian Foreign Ministry.Iranian Foreign Minister Abbas Araghchi condemned the attack during a phone call with Josep Borrell, the European Union's High Representative for Foreign Affairs and Security Policy, emphasizing the need for a strong response from the UN Security Council and the EU.This incident comes amid ongoing military confrontations between the U.S. and Iran. Despite a memorandum of understanding (MOU) with the U.S. being effectively rendered void, Iran reaffirmed its stance of not intervening in the Russia-Ukraine war.Ukraine has criticized Iran for supplying attack drones to Russia, alleging that Iran supports the war. Iran has denied these allegations or claimed that any transactions occurred before the outbreak of the war.* This article has been translated by AI. 2026-07-26 15:40:00