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Seoul elementary schools kick off summer vacation SEOUL, July 22 (AJP) - 2026-07-22 16:04:58 -
Seoul elementary schools kick off summer vacation SEOUL, July 22 (AJP) - 2026-07-22 16:04:06 -
Chinese Semiconductor Companies Rush to IPOs, Marking 'Semiconductor Ascendancy Season 2' Chinese semiconductor companies are rapidly pursuing initial public offerings (IPOs). Since June, six companies have either gone public or are in the process of doing so. This surge follows the Chinese government's significant support for the capital market in alignment with its artificial intelligence (AI) and semiconductor self-sufficiency strategies. Analysts are calling this the start of 'Semiconductor Ascendancy Season 2.' While Season 1 focused on narrowing the technology gap, Season 2 aims at large-scale fundraising to expand production capacity.According to financial investment sources on July 22, Changxin Memory Technologies (CXMT), a leading Chinese DRAM manufacturer, is set to list on the Shanghai Stock Exchange's STAR Market on July 27. The expected market capitalization at the issue price is approximately 645 billion yuan (about $142 billion). The actual fundraising amount is projected to exceed the initial plan of 29.5 billion yuan (about $6.7 billion), reaching around 65 billion yuan (about $14.7 billion), marking the largest IPO in STAR Market history, surpassing the previous record set by SMIC in 2020.CXMT has shown impressive growth, with revenues of 61.8 billion yuan last year, a 156% increase from the previous year, and a net profit of 1.9 billion yuan, marking a return to profitability. In the first quarter of this year, the company reported revenues of 50.8 billion yuan and a net profit of 24.8 billion yuan, representing year-on-year increases of 719% and 1,688%, respectively.Yangtze Memory Technologies Co. (YMTC), a NAND flash manufacturer, is also preparing for a STAR Market listing. This means that both major Chinese memory companies in the DRAM and NAND sectors are entering the capital market. Additionally, on July 1, silicon photonics company XPHOR and SSD controller firm InnoGrit filed for IPO preliminary reviews. Earlier, on June 15, AI chip developer EnFlame and 12-inch wafer manufacturer CanSemi passed their IPO reviews.The IPO rush is closely tied to the Chinese government's policy support. The China Securities Regulatory Commission established an innovation growth track for the STAR Market last year, allowing the listing of technology-driven loss-making companies. In June of this year, the commission expanded the listing criteria to include AI companies, aiming to accelerate funding for AI and semiconductor firms as part of the 'Semiconductor Ascendancy Season 2' strategy.Market analysts are focusing on the potential for the substantial funds raised through these IPOs to lead to increased production capacity and research and development investments. Given that China accounts for 20-25% of global DRAM demand, the expansion of domestic companies could alter the supply structure of the memory market in the long term.According to market research firm TrendForce, CXMT's global DRAM market share rose from 4.1% in the first quarter of 2025 to 7.6% in the first quarter of this year. Another research firm, SEMI, projects that the market share could reach 17% by 2028.Lee Min-hee, a researcher at BNK Investment & Securities, noted, 'CXMT currently has a monthly production capacity of 300,000 DRAM wafers, and its domestic market share has expanded from 13% to 26% in just one year. With the mass production of DDR5 underway, the company is beginning to enter the supply chains of global PC and smartphone manufacturers.' He added, 'The AI boom could provide an opportunity for Chinese memory companies to enter the global IT market, which may pose challenges for domestic firms during downturns.'As global memory companies focus their production capacity on HBM, CXMT is rapidly capturing the mobile and server DRAM markets. Shin Seung-woong, a researcher at Shinhan Investment Corp., stated, 'While the supply shortage is expected to continue through 2026-2027, the impact may not be significant. However, after 2028, if the market slows down, the expansion by Chinese companies could lead to a decline in general DRAM prices and weaken the negotiating power of global firms.'Conversely, since CXMT's competitiveness is concentrated on general DRAM products like DDR5 and LPDDR5X, its impact on the HBM market, which is crucial for AI memory, is expected to be limited in the near term. Shin added, 'Although CXMT has outlined a development roadmap for HBM3 and HBM3E, the absence of EUV equipment and yield issues suggest that the technology gap with Samsung Electronics, SK Hynix, and Micron will remain at least three years. Initial supply is likely to be limited to Chinese AI customers like Huawei.'* This article has been translated by AI. 2026-07-22 16:04:00 -
Seoul Mayor Oh Se-hoon Fined Amid Controversy Over Political Donations Seoul Mayor Oh Se-hoon has been fined 1 million won after being convicted in a first trial for violating political funding laws, sparking a heated debate online regarding the implications of the ruling and its potential impact on his future in office.On July 22, various online communities quickly shared the verdict of Oh's case, which involved allegations of receiving polling results from political broker Myung-taek-kyun during the 2021 Seoul mayoral by-election, with his supporter Kim Han-jeong covering the 33 million won cost.Many reactions focused on criticizing the judiciary's political judgments. One user remarked, "Today's ruling shows that the judiciary could have corrected this country. If they wanted to, they could easily convict someone without evidence, so why didn't they apply that standard to Lee Jae-myung and instead let him off the hook?"The user continued, "There were many opportunities to correct the country. The judges who acquitted Kwon Soon-il, who was involved in the Hwacheon Daeyu case, and released Lee Jae-myung, who was sentenced to jail, are all accomplices."Conversely, some users cautioned against hastily concluding that Oh would lose his mayoral position based solely on this ruling. Comments included, "It's only the first trial; he won't lose his position unless the Supreme Court confirms it," and "Political cases often get overturned in higher courts. Didn't Lee Jae-myung's election law case get reversed in the third trial?"Another user noted, "While it may seem reasonable based on circumstantial evidence, the lack of proof was also a point of contention in the trials involving Kim Geon-hee, Yoon Suk-yeol, and Myung-taek-kyun. The judges' decisions vary, so there's no need to argue over who is right."However, some observers believe that the fine itself suggests a high likelihood of losing the right to run for office. Comments included, "If this charge results in a guilty verdict, it effectively means a loss of eligibility. A fine of 900,000 won was never an option," and "With a 1 million won fine, the chances of losing the mayoral position remain significant, even if it goes to the third trial."Earlier, the Seoul Central District Court's Criminal Division 22, led by Judge Jo Hyung-woo, sentenced Oh to a 1 million won fine for violating the Political Fund Act. The ruling is a first trial, and the final decision on Oh's mayoral status will depend on the outcome of the appeal and the Supreme Court's judgment. 2026-07-22 16:04:00
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Seoul elementary schools kick off summer vacation SEOUL, July 22 (AJP) - 2026-07-22 16:03:05 -
Seoul elementary schools kick off summer vacation SEOUL, July 22 (AJP) - Students attend a summer vacation ceremony at Jungpyeong Elementary School in Nowon-gu, Seoul, on July 22, 2026. 2026-07-22 16:02:05 -
Seoul Mayor Oh Se-hoon Fined 10 Million Won, Risks Losing Office Seoul Mayor Oh Se-hoon has been sentenced to a fine of 10 million won after being found guilty of violating political funding laws. The ruling was made by the 22nd Criminal Division of the Seoul Central District Court on July 22.If the sentence is upheld, Oh will lose his position as mayor under the Public Election Act. His legal team is expected to file an appeal.Former Seoul Deputy Mayor Kang Cheol-won and businessman Kim Han-jeong, who were also indicted, received fines of 3 million won and 5 million won, respectively.* This article has been translated by AI. 2026-07-22 15:56:00
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Trump Signals Further Military Action Amid Concerns Over Iran War Costs The United States is facing significant war costs and a depleted defense budget due to the prolonged conflict in Iran, yet President Donald Trump is signaling further military action. He has indicated plans for additional strikes on Iran's underground nuclear facilities and warned of a response to Houthi threats in the Red Sea, raising concerns about increased burdens on U.S. military resources and ammunition.Iran War Costs Reach $37.5 Billion, Raising Concerns Over U.S. Defense BudgetOn July 21, U.S. Secretary of Defense Pete Hegseth testified before the Senate Appropriations Committee that costs related to the Iran conflict have reached $37.5 billion. This figure includes not only actual expenditures to date but also projected military salaries and operational costs through September 30.As war expenses rise rapidly, some key budgets within the Department of Defense are nearing depletion. The Washington Post reported that “some essential budgets could be exhausted within weeks,” noting that training has already been reduced or canceled, and maintenance budgets for equipment and facilities are being diverted to cover war costs.In response, the Trump administration has requested an additional $87.6 billion from Congress, with approximately $67.1 billion earmarked for the Department of Defense. However, the approval of this request remains uncertain due to disagreements in Congress over the prolonged war and financial burdens.To secure immediate funding, the Department of Defense is considering reallocating $4.3 billion designated for training and weapon purchases to other uses. They have sought congressional approval for this move but have not yet received it.Despite these challenges, President Trump has made it clear that he has no intention of easing military pressure. During a meeting at the White House with Lebanese President Joseph Aoun, he stated that the U.S. would “strike very powerfully” at the so-called 'Pickaxe Mountain' near Iran's Natanz uranium enrichment facility.Pickaxe Mountain is believed to be a large underground facility under construction by Iran, linked to its nuclear program. Trump warned, “If they have any location related to nuclear activities, we will strike it very powerfully.”In response, Iran has threatened that if the U.S. attacks its nuclear or other sensitive facilities, it will retaliate against U.S. and allied interests in the region.Potential Red Sea Conflict Could Strain U.S. Military ResourcesThe conflict front may expand to the Red Sea. The Iranian-aligned Houthi movement in Yemen has threatened to blockade the Bab el-Mandeb Strait, which connects the Red Sea and the Arabian Sea, targeting Saudi Arabia. In response, Trump stated, “If that happens, we will take care of it,” expressing a willingness to respond.The Houthi threat is already impacting shipping. They have warned that they could attack vessels using Saudi ports, leading three oil tankers carrying Saudi crude to turn back from their course to Asia in the Red Sea.If the Houthis proceed with a blockade and the U.S. responds, the burden on U.S. forces could increase. Current and former U.S. officials believe that some ships and aircraft deployed in the Gulf for the Iran conflict may need to be redirected to the Red Sea and near Yemen.Currently, more than 20 U.S. Navy vessels and hundreds of military aircraft are stationed in the Middle East. To counter Houthi missile and drone attacks, additional air defense capabilities and intelligence assets may need to be deployed, leading to faster depletion of interceptors and various munitions.Efforts for a diplomatic resolution are ongoing. A proposed 10-day ceasefire, reportedly initiated by Iran, has been conveyed to the U.S. by mediating countries including Qatar, Egypt, Oman, and Pakistan. Discussions are underway to establish safe passage for vessels in the Strait of Hormuz and to revive a memorandum of understanding (MOU) that was effectively nullified last month.The U.S. maintains that a minimum agreement on the free passage of vessels in the Strait of Hormuz must be reached before any ceasefire. Trump has stated that he will continue military pressure until Iran is ready to negotiate “in a meaningful way.” However, Secretary of State Marco Rubio has indicated that the U.S. remains open to a negotiated resolution.* This article has been translated by AI. 2026-07-22 15:56:00
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BMW Launches Alpina Luxury Brand After 25 Years BMW Group is launching its luxury brand Alpina, aimed at high-net-worth individuals, for the first time in 25 years. The brand is intended to fill the gap between BMW's top-tier 7 Series and Rolls-Royce.On July 22, BMW Korea announced, "To enhance the highest luxury segment within the group beyond the existing BMW luxury class, we will introduce Alpina. Alpina will serve as a strategic brand targeting ultra-high-net-worth individuals worldwide, bridging the gap between BMW and Rolls-Royce."Alpina originated in 1965 in Bavaria, Germany, as a high-performance tuning brand and has since evolved into an independent automobile manufacturer. Initially rooted in motorsport, it is characterized by three main features: tranquility during long-distance driving, precision engineering, and understated confidence. Captivated by Alpina's blend of serene luxury and uncompromising performance, BMW Group acquired the Alpina trademark in 2022. According to BMW Group, Alpina's global sales reached a record high of 2,600 units last year.Oliver Veillechner, Vice President of the Alpina brand, stated, "BMW Group is welcoming a new brand for the first time in 25 years since Rolls-Royce. With the official transfer of Alpina's trademark rights in January, we are starting a new chapter for the brand."Alpina is targeting the ultra-luxury market. Veillechner explained, "The number of ultra-high-net-worth individuals has been steadily increasing, and their consumption patterns are shifting from ostentatious luxury to more understated luxury. This aligns perfectly with the values that Alpina represents."He added, "While Rolls-Royce serves as the top brand within BMW Group, there is a significant price gap between Rolls-Royce and the 7 Series. Many brands, including Bentley, Maybach, and Range Rover, are already targeting this market, and Alpina will play a strategic role in connecting the market between BMW's top line and Rolls-Royce."According to BMW Group, the premium large luxury market in South Korea has been steadily growing over the past decade. Sales of premium large models increased from approximately 12,000 units in 2014 to about 34,000 units in 2025, a growth of about 2.8 times. Notably, sales in the ultra-luxury segment, including Maybach, Lamborghini, Bentley, and Ferrari, surged from 452 units to 2,605 units during the same period, marking an increase of about 5.8 times.An official Alpina store in South Korea is set to open in the first half of 2027. BMW Group plans to officially launch the brand through offline platforms starting next year, with seven BMW Alpina showrooms expected to open nationwide by the second half of 2027. New models will be gradually released starting in early 2028.Kim Kang-min, head of the sales team at BMW Korea, noted, "Since 2021, the growth rate of the ultra-luxury market has accelerated. In South Korea, there is a growing demand not just for premium cars but for increasingly rare and differentiated luxury options."He added, "This trend aligns with global lifestyle changes, indicating that a customer base for Alpina has already been established. We aim to target the top luxury market that has been vacant in our product portfolio through Alpina."* This article has been translated by AI. 2026-07-22 15:56:00
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South Korea Denies U.S. Request for Naval Deployment in Hormuz Strait 청와대는 22일 미국 정부가 호르무즈 해협 내 군함 파견 등을 요청했다는 보도와 관련해 요청 사실을 부인했다. 청와대는 이날 언론 공지에서 "정부는 국제해상 교통로의 안전과 항행의 자유와 관련해 최근 미국 측으로부터 구체적인 특정 자산 파견을 요청받은 바는 없다“고 밝혔다. 그러면서도 ”미국 측과 관련 협력 방안을 지속 논의해 온 바 호르무즈 해협의 통항 자유를 위한 실질적인 기여 방안에 대해 한반도 대비 태세와 국내법 절차 등 제반 요인을 종합적으로 감안해 검토하고 있다“고 설명했다. 다만 청와대는 ”군사·안보 사항과 관련된 한·미 간 구체적인 소통 내용은 대외 공개하기 어렵다는 점을 양해 바란다“고 부연했다. 앞서 도널드 트럼프 대통령은 이란과의 전쟁으로 호르무즈 해협이 봉쇄되자, 지난 3월 한국 등 동맹국에 군함 파견을 요청한 바 있다.* This article has been translated by AI. 2026-07-22 15:52:00