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Trump says Iran deal in 'pretty final shape' as Tehran says no final decision yet SEOUL, June 12 (AJP) - A peace deal between Washington and Tehran is in its final stages and could be signed in Europe as soon as this weekend, U.S. President Donald Trump said on Thursday. Speaking to reporters at the White House, Trump said the U.S. had "just made a great settlement of the war with Iran," announcing that he had canceled planned strikes against Tehran. "We have a signing soon and the documents are in pretty final shape, so we'll see," he added. Trump also said that Vice President JD Vance would travel to Europe for the signing, while the president remains at the White House, where he is scheduled to host UFC Freedom 250 on the South Lawn on Sunday to celebrate his 80th birthday. Describing the agreement as a major step toward ending months of conflict in the Middle East, Trump said the most important part of the deal is a commitment that Iran would neither develop nor acquire nuclear weapons. "We have a deal that Iran will never have a nuclear weapon, which was the whole purpose of what we had to go through to get this. So, it's a very big thing," he said, adding that the agreement would also include the reopening of the Strait of Hormuz, a critical chokepoint for roughly one-fifth of the world's oil supply. Contrary to Trump's claims, Foreign Ministry spokesperson Esmaeil Baghaei said that while both sides have made some progress in negotiations, no final decision has been reached. He said several key issues remain unresolved including sanctions relief and access to frozen Iranian assets, vowing that Tehran will not compromise on its core demands. Countries that rely on the strait for energy shipments including South Korea, are closely watching developments, hoping that a possible final deal after months of conflict and repeated fragile ceasefires will help stabilize global energy supply chains. 2026-06-12 09:01:34 -
Korea Eximbank Launches K-Finance Package to Support Nuclear Power Exports Korea Eximbank is strengthening its policy finance support system to expand overseas nuclear power orders. The bank aims to enhance the export competitiveness of 'K-nuclear' by preparing tailored financial packages for large-scale nuclear projects in countries like the Czech Republic and Vietnam. On June 12, Korea Eximbank held a 'K-Nuclear Global Expansion Policy Finance Roundtable' at its headquarters in Yeouido, Seoul. The event was attended by representatives from state-owned nuclear power companies such as Korea Electric Power Corporation and Korea Hydro & Nuclear Power, as well as engineering, procurement, and construction (EPC) firms like Doosan Enerbility, Hyundai Engineering & Construction, Samsung C&T, and Daewoo Engineering & Construction, along with the Korea Nuclear Export Industry Association. This roundtable was organized in response to the increasing electricity demand driven by the growth of the artificial intelligence (AI) industry, the rising importance of energy security, and the need to achieve carbon neutrality, which has brought renewed attention to the role of nuclear power. Discussions also focused on Korea Eximbank's role as a policy finance institution in line with the government's recently announced 'K-Nuclear One Team Export System Efficiency Improvement Plan.' Participating companies shared challenges they face in pursuing overseas nuclear projects, including geopolitical risks and the burdens of securing large-scale, long-term financing. In response, Korea Eximbank pledged to provide customized financial solutions based on its past experience in financing the Barakah nuclear power plant in the United Arab Emirates, helping domestic companies secure competitive advantages in bidding. Korea Eximbank plans to quickly establish a 'K-Finance Package' targeting large nuclear projects in Vietnam, the Czech Republic, Bulgaria, and Poland. The bank will proactively prepare financing solutions tailored to the needs of project owners and will also support exports in next-generation nuclear fields, such as small modular reactors (SMRs) and key equipment. Additionally, it will promote cooperative financing for small and medium-sized partner companies that form the backbone of the industrial ecosystem.* This article has been translated by AI. 2026-06-12 09:00:00 -
U.S.-Iran Peace Deal Boosts New York Stock Market; KOSPI Eyes 8000 U.S. President Donald Trump announced that a peace agreement with Iran is nearing completion, leading to a significant surge in the New York stock market. With U.S. semiconductor stocks performing well and international oil prices declining, the South Korean market is expected to start strong, aiming to reclaim the 8000-point level for KOSPI. On June 11, the Dow Jones Industrial Average closed up 929.97 points (1.86%) at 50,848.75. The S&P 500 rose 127.31 points (1.75%) to finish at 7,394.30, while the tech-heavy Nasdaq Composite gained 640.16 points (2.54%) to close at 25,809.66. Market attention is focused on the situation in the Middle East. During a White House briefing, Trump stated, "We have reached an agreement that Iran will not possess nuclear weapons," adding that the documents are nearly finalized and will be signed soon. Earlier, he had canceled planned airstrikes on Iran via his social media, emphasizing progress in peace negotiations. As hopes for an end to the conflict spread, international oil prices plummeted. Brent crude for August delivery fell 2.92% to $90.38 per barrel, while West Texas Intermediate (WTI) for July delivery dropped 2.58% to $87.71 per barrel. Brent crude is at its lowest since April, and WTI is at its lowest since late May. Semiconductor stocks led the market rally, with Intel surging 9.27% and Micron rising 11.66%. Nvidia also gained 2.22%. The Philadelphia Semiconductor Index soared 7.91%, marking its largest single-day increase in a year. Concerns about inflation eased somewhat. The U.S. Producer Price Index (PPI) for May rose 6.5% year-over-year, slightly above market expectations, but investors appeared more focused on the reduced risks in the Middle East. The South Korean market is also expected to open strong. On the previous day, KOSPI had dropped below 7400 during trading but managed to close up 33.13 points (0.43%) at 7,763.95, thanks to bargain hunting by individual investors. KOSDAQ surged 4.76% to close at 996.93, nearing the 1000-point mark. As of 8:49 a.m. on June 12, pre-market trading on NXT showed Samsung Electronics up 9.03% and SK Hynix up 9.23%. Other stocks like SK Square (8.88%), Samsung Electro-Mechanics (7.53%), Hyundai Motor (6.20%), and Samsung Life Insurance (7.12%) also showed strong gains. Analysts believe that the progress in U.S.-Iran peace negotiations, easing inflation concerns, and the strength of semiconductor stocks will positively impact the South Korean market. Han Ji-young, a researcher at Kiwoom Securities, stated, "The signing of the memorandum of understanding (MOU) between the U.S. and Iran is imminent, and the U.S. May inflation data is alleviating market anxiety. With the strength of U.S. semiconductor stocks and the rise in KOSPI 200 futures, the domestic market is expected to start strong and attempt to break through the 8000-point level amid sector rotation." However, the upcoming Federal Open Market Committee (FOMC) meeting and uncertainties regarding central bank tightening are seen as potential variables. The market has noted that semiconductor, IT hardware, and inbound consumer-related sectors have shown relative resilience during recent adjustments. One analyst remarked, "Even in a period of increased volatility, holding leading stocks like semiconductors remains a valid strategy," while also advising attention to sectors like securities, banking, machinery, and shipbuilding, which have high earnings visibility but have been relatively overlooked.* This article has been translated by AI. 2026-06-12 09:00:00 -
Pharmaceutical Companies Expand into Pet Care Market Targeting Atopic Dermatitis and Diabetes Pharmaceutical companies are expanding their business models in the pet care market, moving from nutritional supplements to therapeutic products. By applying their expertise and technology from human drug development to veterinary medicine, the pet care industry is expected to advance significantly.According to industry sources on June 12, major pharmaceutical companies such as HK Inno.N, Daewoong Pharmaceutical, and Shinpoong Pharmaceutical are leveraging their experience in human drug development to enter the therapeutic market targeting conditions like atopic dermatitis, diabetes, and osteoarthritis.HK Inno.N has successfully completed Phase 3 clinical trials for its canine atopic dermatitis treatment, IN-115314, a JAK-1 inhibitor, and is currently in the process of obtaining product approval. IN-115314 is the only small molecule drug in South Korea that selectively inhibits Janus kinase-1 (JAK-1), which is involved in inflammatory signaling.The Phase 3 trial results showed a reduction in pruritus (PVAS) scores from an average of 7.46 before treatment to 2.12 at four weeks, and the skin lesion improvement score (CADESI) decreased from 33.80 to 16.18, demonstrating both efficacy and safety. Previously focused primarily on prescription medications and health and beauty beverages, HK Inno.N is now pursuing entry into the global pet pharmaceutical market, which is valued at 30 trillion won.Daewoong Pharmaceutical has developed a new diabetes treatment for dogs, EnbloPet, based on its human diabetes drug, Enblo (ingredient: inavogliflozin), and submitted a product approval application at the end of last year. EnbloPet, an SGLT-2 inhibitor, works by expelling glucose from the bloodstream through urine, helping to regulate blood sugar levels. It aims to reduce insulin dependence and mitigate the risk of hypoglycemia while enhancing long-term blood sugar management stability. Daewoong plans to commercialize it in combination with insulin therapy to further improve blood sugar control for dogs.Additionally, Shinpoong Pharmaceutical has added 'animal medicine' to its business objectives in its first-quarter report this year, unveiling its pipeline for an osteoarthritis treatment device for animals, SP5M004, and a stroke treatment drug for animals, SP1N004. Both products are currently in the preclinical stage (feasibility studies and internal toxicity efficacy tests). SP1N004 shares the same mechanism of action as Shinpoong's candidate synthetic drug, SP-8203, which is under development for human use.According to a report by Mirae Asset Securities, the pet pharmaceutical market is expected to experience structural growth due to the rise of pet humanization and increased pet lifespans. As pets undergo similar aging processes and chronic diseases as humans, there is a growing unmet demand for treatments for conditions like cancer, diabetes, atopic dermatitis, and osteoarthritis.The domestic pet industry is projected to grow from 8 trillion won in 2022 to 15 trillion won by 2027. The Ministry of Agriculture, Food and Rural Affairs forecasts that the domestic pet industry will expand at an average annual growth rate of 14.5%, reaching 15 trillion won by 2027. The global pet pharmaceutical market is also expected to grow from 33 trillion won in 2024 to 112 trillion won by 2037.* This article has been translated by AI. 2026-06-12 09:00:00 -
Daol Investment Securities Raises V.M. Target Price by 46% Amid Growth Expectations Daol Investment Securities announced on June 12 that it has raised its target price for V.M. from 96,000 won to 140,000 won, an increase of 46%, citing expectations for growth driven by new processes and an expansion of client companies. The investment recommendation remains at 'Buy.' Goyoung-min, a researcher at Daol Investment Securities, stated, "The differentiated growth trajectory exceeding market conditions is becoming visible due to the effects of new processes and client company entries expected in 2027. Considering the favorable supply-demand effects from the inclusion in the KOSDAQ 150, the valuation gap with major domestic semiconductor equipment companies is likely to narrow." Daol Investment Securities forecasts V.M.'s revenue for 2027 to reach 405.8 billion won and operating profit to be 132.6 billion won, reflecting increases of 37% and 53%, respectively, compared to the previous year, and adjusting previous estimates upward. The anticipated increase in order volume, along with expanded market share from new processes and the potential for acquiring new clients based on existing references, contributed to these projections. New process equipment is also highlighted as a growth driver. V.M. is pushing to enter the high-end segment of the poly-etching process based on its new WS equipment. Currently, field tests are underway following successful wafer testing, with positive results reported. The company expects to complete quality certification in the first quarter of 2027, with significant revenue anticipated to begin in the second half of that year. The entry into new overseas memory clients is also seen as imminent. Based on positive feedback from clients, wafer testing has concluded more quickly than expected, and field tests are progressing smoothly, with revenue expected as early as the first half of 2027. The trend of improved performance is expected to continue. Daol Investment Securities projects V.M.'s revenue for the second quarter to be 92.9 billion won, with operating profit at 29.4 billion won, marking increases of 137% and 565%, respectively, compared to the same period last year. The visibility of performance has increased based on already disclosed order volumes.* This article has been translated by AI. 2026-06-12 09:00:00 -
Korea Launches 'Super Innovation Economy Project' to Boost Future Industries Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced the official launch of the 'Super Innovation Economy Project' aimed at fostering future industries such as next-generation power semiconductors, small modular reactors (SMRs), and on-sensor artificial intelligence (AI). The initiative seeks to generate visible results quickly and develop the next generations of semiconductors. Koo made the remarks on June 12 during a meeting of the emergency economic headquarters and the Economic Relations Ministers' meeting at the Government Complex in Seoul. He stated, "Alongside stabilizing people's livelihoods, we will actively pursue structural reforms and the Super Innovation Economy Project to uncover future growth drivers." The government is accelerating the Super Innovation Economy Project to secure world-class technological capabilities and capture global markets. In the field of next-generation power semiconductors, a commercialization technology roadmap will be established this month, and large-scale research and development (R&D) projects linked to demand companies will be initiated. For small modular reactors (SMRs), the government plans to expedite early commercialization based on the standard design approval applied for in February and the 'SMR Special Act' set to take effect in September. The government aims to develop related technologies and refine regulations to secure a competitive edge in the global market. Support for technology development and field demonstrations in the areas of on-sensor AI, actuators for humanoid robots, and secondary batteries will also be strengthened. The government targets to achieve significant results in these fields starting next year. During the meeting, Koo emphasized the need to swiftly implement measures for price and employment stability while also pursuing structural reforms and discovering future growth drivers. He stated, "Starting next week, I will personally visit five regions to identify localized growth drivers and provide systematic support." Koo also highlighted that improving youth employment will be a top priority for policy initiatives. To this end, he plans to expedite the implementation of key tasks from the youth New Deal announced in April and actively identify additional supplementary measures. He noted that through collaboration with relevant ministries, employment trends by class and industry will be closely analyzed, and immediate improvements will be made where swift action is needed, alongside enhanced communication in the field. Furthermore, Koo assessed that the prolonged conflict in the Middle East is contributing to inflation and supply chain pressures, along with ongoing volatility in financial markets. He noted that the employment situation showed a downturn in May, indicating increased uncertainty in labor conditions. In response, the government will focus its policy efforts on stabilizing prices and employment while reviewing related measures weekly through the Economic Relations Ministers' meeting.* This article has been translated by AI. 2026-06-12 08:57:00 -
Trump Announces Imminent Iran Peace Deal, Dollar Sees Largest Drop in Over a Month Donald Trump, the President of the United States, indicated on June 11 that a peace agreement with Iran is imminent, leading to a decline in the value of the dollar. As concerns over escalating conflict in the Middle East eased, the demand for safe-haven assets that had bolstered the dollar during the conflict began to reverse. The Bloomberg Dollar Spot Index fell by 0.3% that afternoon, marking its largest single-day drop since June 6. During a White House event, Trump told reporters, "We just made a great deal on the war with Iran," adding that only final adjustments to the documents remain. He suggested that the agreement could be signed as early as this weekend in Europe and stated that if the deal is finalized, the Strait of Hormuz would be reopened. However, the Iranian government has not officially confirmed whether it will accept the deal. The Iranian Foreign Ministry expressed a cautious stance, stating that the country's "red lines" must be maintained during negotiations. Following Trump's remarks, the risk premium associated with the Middle East quickly diminished in financial markets. International oil prices fell, and U.S. Treasury yields also declined. The easing of concerns over a prolonged conflict and potential disruptions in the Strait of Hormuz led to expectations of lower energy prices and inflationary pressures. Alex Cohen, a foreign exchange strategist at Bank of America, noted that the news heightened expectations for an imminent peace agreement, contributing to the dollar's weakness. Previously, the dollar had strengthened due to a preference for safe-haven assets and rising oil prices following attacks by the U.S. and Israel on Iran. In the options market, the cost of hedging against a stronger dollar has decreased. However, some traders still maintain an optimistic outlook on the dollar, suggesting that the actual signing of the agreement and the normalization of shipping through the Strait of Hormuz will be key factors influencing future exchange rate trends.* This article has been translated by AI. 2026-06-12 08:54:00 -
Iran May Target SpaceX Assets in the Middle East Amid IPO Iran is reportedly considering adding facilities of SpaceX and other companies under CEO Elon Musk to its military targets in the Middle East. This comes as Musk's aerospace company finalized its initial public offering (IPO) at a record high, raising concerns about potential repercussions. On June 11, foreign media outlets, including CNN, reported that the semi-official Fars News Agency, linked to Iran's Islamic Revolutionary Guard Corps (IRGC), stated that Iran could target SpaceX's Starlink facilities in the region. This consideration arises from the recent use of SpaceX's infrastructure, including Starlink, by the U.S. and Israel during attacks on Iran. Fars claimed that Musk's company provided military satellite communication services, including Starshield, Earth observation, encrypted communications, and secure data transmission to the U.S. and Israel. Fars reported, "Starlink ground stations located in Israel, Qatar, Jordan, the United Arab Emirates (UAE), and Oman, as well as infrastructure linked to SpaceX shareholders such as Alpha Dhabi and Mubadala, are now included in Iran's new list of potential targets." Mubadala is the UAE's sovereign wealth fund, while Alpha Dhabi is an investment company, both of which hold stakes in SpaceX. Additionally, Fars cited anonymous sources claiming that U.S. forces attacked water facilities in southern Iran with support from Musk's companies. The agency stated, "Iran reserves the right to attack all facilities associated with Musk's holding company in the Middle East and Israel." This news raises concerns that it could dampen enthusiasm for SpaceX's IPO, which set its offering price at $135 (approximately 200,000 won) and is set to begin trading on the Nasdaq on June 12. SpaceX aims to sell around 555.6 million shares, raising $75 billion (approximately 113 trillion won), with a valuation of about $1.77 trillion (approximately 2,668 trillion won) based on the offering price. The scale of this IPO surpasses the previous record set by Saudi Arabia's state-owned oil company Aramco in 2019, which raised $29.4 billion (approximately 44.3 trillion won). Based on the offering price, SpaceX's market capitalization will immediately place it as the eighth largest in the world, surpassing Aramco.* This article has been translated by AI. 2026-06-12 08:51:00 -
SK Hynix Considers Implementing ChatGPT as AI Adoption Grows in Semiconductor Industry SK Hynix is exploring the adoption of external generative AI tools, including ChatGPT, following Samsung Electronics' lead. The semiconductor industry is increasingly looking to leverage AI beyond administrative tasks to enhance productivity in research and development and overall organizational operations. On June 11, Kwak No-jung, CEO of SK Hynix, discussed the potential for integrating external generative AI models during a CEO town hall event at the New Icheon Forum. Kwak stated, "We are considering the implementation of MS 365 and Copilot, and we are also reviewing the feasibility of using ChatGPT Enterprise from a security and system architecture perspective." He added, "We plan to gradually introduce and expand the use of external AI in areas not related to national core technologies." Currently, SK Hynix operates an internal AI service utilizing open-source generative AI models. The introduction of external AI models will allow employees to choose from various AI tools based on their job functions. Given the significant concerns about the potential leakage of core technologies, such as design and process data, it is anticipated that the initial application of external AI will focus on document creation, meeting summaries, and general administrative tasks. Samsung Electronics is also accelerating its efforts to innovate operations using generative AI. The Digital Transformation division has officially integrated external generative AI services, including ChatGPT, Gemini Enterprise, and Claude, while the Device Solutions division is sequentially implementing ChatGPT and Gemini following Claude. Kwak emphasized, "In the age of AI, it is not just about who knows more, but who learns and adapts more quickly. The process of experiencing AI and changing work methods will become SK Hynix's new competitive advantage."* This article has been translated by AI. 2026-06-12 08:45:00 -
Kim Geum-sook Becomes First Korean Cartoonist to Receive France's Chevalier Medal Kim Geum-sook has become the first Korean cartoonist to receive the Chevalier of the French Order of Arts and Letters, the highest honor awarded by the French government, according to the Korea Manhwa Contents Agency on June 12. Kim has gained recognition for her artistic contributions through works such as "Pul," "Jiseul," and "Father's Song." Philippe Bertoux, the French Ambassador to South Korea, praised Kim during the ceremony, stating, "Through her unique graphic novels like 'Pul' and 'Waiting,' Kim Geum-sook has elevated the voices of marginalized individuals in history into a universal form of art. She has also played a crucial role in bridging the cultures of our two countries by translating over 100 Korean comics into French." He added, "This award, presented in a significant year marking the 140th anniversary of diplomatic relations between Korea and France, is a tribute to Kim Geum-sook's outstanding contributions, the authenticity of her work, and her beautiful character." After graduating from the Strasbourg School of Decorative Arts in France, Kim returned to Korea, where she has expressed the pain of modern Korean history through her powerful ink wash technique. She has been recognized as a leading figure in Korean comics, winning the prestigious Best International Book Award at the Harvey Awards and being named one of the New York Times' Best Graphic Novels. Notably, her comic "Pul," which depicts the lives of comfort women, resonated deeply with readers worldwide, transcending cultural and linguistic barriers, while "Waiting" tells the story of separated families during the Korean War, highlighting the tragedy of war. Baek Jong-hoon, head of the Korea Manhwa Contents Agency, remarked, "This award exemplifies that K-comics and webtoons are establishing themselves as a form of pure comic art at the highest global level, beyond mere commercial success and public interest."* This article has been translated by AI. 2026-06-12 08:39:00