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  • Türkiye emerges stronger from Ankara NATO summit
    Türkiye emerges stronger from Ankara NATO summit SEOUL, July 09 (AJP) - Türkiye closed out the first North Atlantic Treaty Organization summit ever held in its capital on Wednesday with its standing in the alliance visibly enhanced, as President Recep Tayyip Erdogan pointed to progress on F-35 fighter jets, a thaw in relations with Washington and a defense industry that he said now outpaces many allies. "We have successfully concluded our NATO summit, which we hosted in our country for the second time in 22 years and for the first time in our capital, Ankara," Erdogan said at a news conference after the two-day gathering at the Beştepe Presidential Complex. "This historic summit, which we hosted at a time when Euro-Atlantic security is being tested, has been conducted in a manner that will shape our common future." The summit itself produced substantial commitments. Allies pledged 70 billion euros, about $80 billion, in military equipment, assistance and training for Ukraine in 2026, and announced more than $50 billion in new procurements at the North Atlantic Treaty Organization (NATO) Summit Defence Industry Forum, according to the alliance. Members also agreed to a 27 billion euro investment to modernize fuel storage and pipeline infrastructure extending to the eastern flank, while European allies and Canada reported raising core defense spending by more than $139 billion since last year's summit in The Hague, a jump of nearly 20 percent. For the host, however, the most consequential developments came on the sidelines. Erdogan said US President Donald Trump has taken a "positive approach" toward delivering F-35 fighter jets to Türkiye, more than six years after Washington suspended the country from the program over its purchase of the Russian S-400 air defense system. Ankara has long argued that the two systems do not conflict and that its suspension violated the program's rules. "Mr. Trump actually has a positive approach toward Türkiye on the F-35 issue. Hopefully, when the F-35s are delivered to Türkiye, the whole world will say, 'America kept its promise,'" Erdogan said. Asked whether Washington had linked a possible F-35 sale to the S-400 issue, Erdogan declined to elaborate. "Keep watching us," he replied. The Turkish president also said US sanctions against Ankara are no longer being enforced. "At the moment, the United States is not applying any sanctions against us. To a large extent, they have been lifted," he said, adding that senior Turkish officials including the defense minister, foreign minister and chief of the general staff had confirmed this firsthand. Momentum extended to Türkiye's flagship domestic aircraft program. Erdogan said Trump expressed support for the sale of F110 jet engines, manufactured by General Electric, to power the KAAN fighter jet, an indigenous program launched in 2016 to reduce reliance on foreign military equipment. The Trump administration has reportedly notified Congress of a proposed engine sale valued at more than $700 million. The two leaders also discussed joint naval construction, including frigates, corvettes and submarines, which Erdogan said Turkish shipyards are fully capable of building. "It was a very, very productive meeting," Erdogan said of his talks with Trump, noting that the US president "left the press conference very happy." He added that Trump responds within 24 hours whenever Ankara reaches out. Erdogan framed the warming ties as recognition of the capabilities Türkiye built largely on its own. He said the country never enjoyed the post-Cold War peace dividend that many European states did, instead contending with regional crises and terrorism for decades. "There were times when we were left alone and treated unfairly. Therefore, we often had to rely on our own capabilities," he said. "Today, in terms of defense spending, military capabilities and the defense industry that underpins them, we are well ahead of many allies." The numbers back up an expanding role. Türkiye commands NATO's second-largest land army and has anchored the alliance's southeastern flank for decades. Turkish F-16s will deploy to Estonia in August as part of NATO's Air Policing mission, Ankara will lead the Kosovo Force until September 2026 and the country is scheduled to command the NATO Response Force in 2028 and 2029. Addressing alliance leaders, Erdogan said Türkiye has taken steps to raise defense spending to 3.5 percent of gross domestic product before 2030 and ranks among the world's top 10 countries in defense production and export capacity, according to the Embassy of Türkiye in Seoul. He singled out drone maker Baykar as proof of that rise. "They are receiving very serious orders from around the world and continue to do so. This shows that our unmanned aerial vehicles and armed drones have found acceptance globally," Erdogan said. He also promoted the Steel Dome, Türkiye's integrated air defense project, saying it strengthens both national and alliance defenses. "If others have different domes, we also have the Steel Dome," he said. Erdogan pressed allies to remove what he called lingering barriers to defense trade within the alliance. "Although some obstacles to defense industry trade among allies have decreased, they still exist. These restrictions must be removed as soon as possible, without conditions," he said. In his address to alliance leaders, he warned that excluding non-European Union allies from European defense cooperation would create an artificial division within Europe, and at his press conference, he repeated that EU defense initiatives must complement NATO rather than duplicate it. He brushed aside criticism of a potential F-35 sale from Israeli Prime Minister Benjamin Netanyahu and Greek Prime Minister Kyriakos Mitsotakis. "A country can buy and sell defense equipment. Türkiye is already producing these systems, and alongside producing them, it also has the right to buy them," he said. On Greece, however, he struck a conciliatory note, welcoming Mitsotakis' expressed desire to resolve maritime disputes in the Aegean Sea. "Let us sit down, talk and resolve the issue," he said. On Ukraine, Erdogan said the war has become one of attrition, "claiming tens of thousands of casualties every month," and renewed Türkiye's offer to host negotiations, having brokered earlier rounds of talks between Moscow and Kyiv in Istanbul. "There are no losers in a just peace. I would like to reiterate that we are ready to bring the parties together once again in Türkiye," he said. He also expressed support for Trump's vision for peace in Ukraine, according to the embassy. He said he repeatedly pushed Gaza onto the summit agenda, citing more than 73,000 Palestinian deaths, and pointed to nearly 5,000 deaths in Lebanon since March 2 from continuing Israeli attacks. "Our region can tolerate neither new tensions nor new conflicts. On the contrary, like air and water, humanity needs peace, tranquility and stability," he said. Türkiye stands ready to contribute to clearing mines in the Strait of Hormuz, he told alliance leaders. Erdogan met Trump as well as the leaders of Canada, Finland, France, Germany, Italy and the United Kingdom on the summit's sidelines, and Syrian President Ahmed al-Sharaa was also in Ankara. He said he would keep pressing European leaders on Türkiye's EU accession, telling German Chancellor Friedrich Merz that "making Türkiye wait for 53 years is an injustice." Türkiye will host two more major international gatherings this year: the 13th Summit of the Organization of Turkic States in Ankara on Oct. 29 and 30, and the COP31 United Nations climate summit in Antalya from Nov. 9 to 20. 2026-07-09 08:24:58
  • IMF and ADB up South Koreas growth forecast to 2.6% for this year
    IMF and ADB up South Korea's growth forecast to 2.6% for this year SEOUL, July 9 (AJP) -South Korea's economy is expected to survive global-wide setback from the prolonged Gulf crisis and run above its growth potential through next year as it benefits from feverish chip demand amid artificial intelligence investment boom, drawing one of the steepest outlook upgrades from the International Monetary Fund and the Asian Development Bank. The IMF on Wednesday raised its 2026 growth forecast for South Korea to 2.6 percent, up 0.7 percentage point from its April projection — the largest upward revision among the 30 economies covered in its July World Economic Outlook Update. It also lifted next year's forecast by 0.4 percentage point to 2.5 percent. The ADB in its latest revised outlook released on Thursday also upgraded this year's growth forecast for Korea to 2.6 percent from 1.9 percent projected in April and nudging next year's estimate to 2.0 percent from 1.9 percent, likewise citing robust AI-led semiconductor exports. The IMF said South Korea's strong overseas demand for semiconductors and AI hardware had more than offset the drag from the Middle East conflict, identifying Korea as one of the world's four largest net exporters of AI hardware alongside Taiwan, Thailand and Malaysia. It noted the Korean economy expanded at an annualized 7.5 percent in the first quarter, far exceeding its earlier estimate of 1.8 percent. The ADB similarly said resilient exports driven by global AI demand would continue supporting growth into next year, while stronger corporate earnings, buoyant equity markets and government support should underpin domestic consumption. Both institutions nevertheless warned that the outlook remains vulnerable to rising energy prices and geopolitical uncertainty. The IMF trimmed its 2026 global growth forecast to 3.0 percent from 3.1 percent, saying the world economy is caught between supply disruptions caused by the Middle East conflict and an AI-driven technology cycle. It warned that geopolitical tensions, trade fragmentation and elevated energy costs remain major downside risks, although it expects energy markets to normalize gradually next year. The ADB likewise cautioned that higher production costs stemming from energy prices and supply-chain disruptions could weigh on Korea's economy. It also pointed to the potential return of U.S. tariffs and a correction in equity markets as additional risks, even as the country's semiconductor industry is expected to cushion those headwinds. It projected South Korea's inflation at 2.7 percent this year and 2.2 percent next year, citing the impact of higher international energy prices on consumer prices. The figures are 0.4 and 0.2 percentage points higher, respectively, than its April forecasts. Meanwhile, the ADB revised up its growth forecast for Taiwan to 9.5 percent, while projecting Hong Kong and Singapore to grow in the 3 percent range. But forecasts for Japan and Australia were unchanged from earlier projections, at 0.7 percent and 2.0 percent, respectively, while New Zealand's growth forecast was lowered by 0.3 percentage point from April to 1.6 percent. 2026-07-09 08:21:25
  • Shinhan Investment Corp. Raises A.P.R. Target Price Amid Strong Growth in U.S. and Europe
    Shinhan Investment Corp. Raises A.P.R. Target Price Amid Strong Growth in U.S. and Europe Shinhan Investment Corp. reported on July 9 that A.P.R. continues to experience strong growth, particularly in the U.S. and European markets. The firm maintained its 'buy' rating and raised the target price from 500,000 won to 540,000 won.Park Hyun-jin, a researcher at Shinhan Investment Corp., stated, "A.P.R. is driving overall revenue growth with triple-digit sales growth year-on-year in the U.S. and Europe. As the leading indie beauty company in South Korea, we expect this high growth to continue through the second half of the year."Shinhan Investment Corp. forecasts A.P.R.'s consolidated revenue for the second quarter of this year to reach 788 billion won, a 140% increase from the same period last year, while operating profit is expected to rise by 130% to 194.6 billion won. These figures exceed market expectations by 20% for revenue and 16% for operating profit.The cosmetics segment is the primary driver of this growth. Revenue from cosmetics and home beauty devices is projected to increase by 195% and 23%, respectively, compared to the previous year. Park noted, "In terms of regions, sales in the U.S. are expected to grow by over 250%, while other regions, including Europe, will see sales increase by over 220%. However, domestic sales may decline by around 10% due to inventory adjustments for the fashion brand NERDY and beauty devices."Particularly, the growth in the U.S. market is expected to be significant. Park highlighted that the number of Mediheal products entering the Amazon Top 100 in the U.S. expanded from 7-9 in the first quarter to 16 in the second quarter, and Ulta's offline sales have shown triple-digit growth compared to the previous quarter. He added, "Starting in the second quarter, sales from deliveries to Target and Walmart will also begin to be reflected."Growth is also continuing in the U.K. and Germany. Park mentioned, "In Europe, Mediheal products have ranked among the top 100 on Amazon in the U.K. and Germany, with 5-7 products listed. However, due to increased marketing costs for Amazon Prime Day in the second quarter, operating profit margins may temporarily decline, but this is an investment aimed at expanding sales." He also noted that shipping cost burdens are on a downward trend.* This article has been translated by AI. 2026-07-09 08:20:00
  • Train Services Adjusted on Gyeongbu Line Due to Heavy Rain
    Train Services Adjusted on Gyeongbu Line Due to Heavy Rain On July 9, Korea Railroad Corporation (Korail) announced adjustments to train services between Bugang Station and Seochang Station due to heavy rainfall in the area.As of 8 a.m. on the same day, the following trains were suspended: two Mugunghwa trains between Daejeon and Seoul, one Saemaeul train, two Mugunghwa trains between Daejeon and Jecheon, and one Mugunghwa train between Iksan and Yongsan, totaling four trains.A Korail official stated, "We advise customers to use alternative transportation or check train operation information through the Korail Talk app or our website before traveling."* This article has been translated by AI. 2026-07-09 08:20:00
  • Panic on the Markets: KOSPI Struggles Near 7000, KOSDAQ Falls Below 800
    Panic on the Markets: KOSPI Struggles Near 7000, KOSDAQ Falls Below 800 ◆Aju Economic Major News▷Panic on the Markets: KOSPI Struggles Near 7000, KOSDAQ Falls Below 800- The KOSPI index briefly turned positive during the day due to low-price buying but closed down 5.35% at 7246.79 as selling pressure intensified in the afternoon. The KOSDAQ also fell 5.56%, dipping below 800 for the first time in nearly 10 months.- With extreme volatility during the trading session, both the KOSPI and KOSDAQ markets triggered a sell-side circuit breaker, continuing a rollercoaster trend of sharp declines and rebounds in the domestic stock market.- On this day, foreign investors returned to net buying in both the KOSPI and KOSDAQ, but this was not enough to counteract the selling pressure from individuals and institutions, leading to a decline in the indices.- Analysts noted that the recent drop in the stock market was influenced by deteriorating semiconductor investment sentiment following Samsung Electronics' preliminary earnings announcement, as well as rising international oil prices and U.S. Treasury yields due to military tensions between Iran and the U.S.- Most of the large-cap stocks, including Samsung Electronics and SK Hynix, saw significant declines. Experts assessed that the KOSPI's valuation has fallen to its lowest level since the financial crisis, indicating that the recovery of investment sentiment will be a key factor for a market rebound.◆Major Reports▷Mixed Trends Reflecting Geopolitical Concerns - The New York stock market showed mixed trends as geopolitical concerns grew following President Trump's remarks suggesting the invalidation of Middle East ceasefire negotiations. Rising international oil prices and U.S. Treasury yields added pressure to the market.- Later, President Trump indicated that the likelihood of a full-scale military conflict was low and that the situation would stabilize soon, allowing the market to recover some of its losses during the session.- The Dow Jones Industrial Average fell 1.09% and the S&P 500 dropped 0.28%, but the Nasdaq rose 0.20% and the Philadelphia Semiconductor Index gained 2.23%, buoyed by buying interest in semiconductor stocks.- Nvidia rose 3.65% on expectations of China allowing imports of its H200 chips, while Broadcom surged nearly 5% following news of a long-term supply contract with Apple, highlighting strength in semiconductor and memory-related stocks.- WTI crude oil surged 4.37% to $73.52 per barrel, while U.S. Treasury yields for both 10-year and 2-year notes also increased. The dollar remained stable, and gold prices fell 1.79%.◆Key Disclosures After Market Close (July 8)▷Taesung signs a supply contract for PCB automation equipment worth 4.3 billion won for Vietnam▷Kakao Games decides to retire 29.8 billion won worth of its own shares▷Kia transitions to a dual CEO system with Song Ho-sung and Song Min-soo▷Central Vaccine signs a supply contract for foot-and-mouth disease vaccines worth 5.8 billion won with the Public Procurement Service▷The exchange will lift the trading suspension on EnGen Bio shares on July 13◆Fund Trends (as of July 6, excluding ETFs)▷Domestic equity funds: +46.4 billion won▷Overseas equity funds: -1.8 billion won◆Key Schedule for Today (July 9)▷China: Consumer Price Index (June), Producer Price Index (June)▷Germany: Import and Export Trends (May)▷U.S.: Existing Home Sales (June)* This article has been translated by AI. 2026-07-09 08:04:00
  • Lee Seung-gi and Lee Da-in Welcome Second Son, Fans Extend Congratulations
    Lee Seung-gi and Lee Da-in Welcome Second Son, Fans Extend Congratulations Lee Seung-gi, a singer and actor, and his wife, actress Lee Da-in, have welcomed their second son, prompting a wave of congratulations from fans.Fans expressed their joy, saying, "Congratulations on the birth of your second child. It's a relief to hear that both the mother and baby are healthy," and "Congratulations on becoming a family of four with a daughter and now a son. Time flies, and Lee Seung-gi is now a father of two."According to Yonhap News on July 8, a representative for Lee Seung-gi confirmed that the couple welcomed their son on July 7, adding, "Both the mother and child are in good health."Lee Seung-gi and Lee Da-in married in April 2023 and became parents for the first time the following year with the birth of their daughter.In February, Lee Seung-gi's agency, Big Planet Made Entertainment, announced that Lee Da-in was five months pregnant, stating, "We are prioritizing the health and safety of the mother while focusing on prenatal care."Lee Seung-gi debuted in 2004 with his first album, 'Dream of a Moth,' featuring the title track 'Because You're My Woman.' He has expanded his career as an actor with leading roles in various dramas, including 'My Girlfriend is a Gumiho,' 'The King 2 Hearts,' and 'Gu Family Book.' He has also been active in variety shows such as '1 Night 2 Days' and 'New Journey to the West.' He is set to hold a solo concert in October, his first in 13 years.Lee Da-in, the daughter of actress Gyeon Mi-ri and sister of actress Lee Yu-bi, has appeared in dramas such as 'My Golden Life' and 'Lovers.'* This article has been translated by AI. 2026-07-09 08:04:00
  • Goldman Sachs: AI Earnings Surprises May Be Coming to an End
    Goldman Sachs: AI Earnings Surprises May Be Coming to an End Large earnings surprises that have supported the artificial intelligence (AI) rally may be difficult to replicate in the second quarter earnings season. While corporate profits are expected to continue rising, market expectations have already increased significantly.On July 8, Christian Müller-Glissmann, head of portfolio strategy and asset allocation research at Goldman Sachs, stated in a Bloomberg TV interview, "The large earnings surprises driven by AI appear to be nearing their end."Goldman Sachs projected a 22% increase in earnings for S&P 500 companies for the second quarter of this year. Financial data provider FactSet also reported that the earnings growth forecast for the S&P 500 has risen to 23.3%, up from 18.8% at the beginning of the quarter.Müller-Glissmann believes there is a strong possibility that companies will exceed market expectations this season. However, he noted that stock prices have already largely reflected AI expectations, making it difficult for earnings alone to trigger another market rally.He also identified the leveraged investments concentrated in semiconductor stocks as a potential burden. "The leverage positions in the semiconductor sector, which involve using debt to enhance returns, had once reached excessive levels, and this trend has recently begun to reverse," he explained.Nonetheless, Goldman Sachs does not view the trend of AI investments as having diminished. Müller-Glissmann assessed that "big tech and major cloud companies have already secured a significant portion of AI infrastructure, placing them in a favorable position."As a result, the focus for this earnings season is likely to shift from the reported numbers to future outlooks. The market is expected to pay closer attention to the sustainability of AI investments, investment profitability, and management's assessments of demand for the second half of the year.* This article has been translated by AI. 2026-07-09 07:56:00
  • South Korea Expands K-Defense Sales at NATO Summit
    South Korea Expands K-Defense Sales at NATO Summit President Yoon Suk Yeol held bilateral talks with Norway, Ukraine, and Romania on July 8, continuing his 'K-defense sales diplomacy' for the second consecutive day. While attending the NATO summit in Turkey, President Yoon focused on expanding exports for domestic defense companies and establishing a foundation for integration into NATO's supply chain through meetings and informal gatherings with leaders of countries seeking defense cooperation. The government aims to accelerate its goal of becoming one of the world's top four defense exporters. A planned bilateral meeting with the Netherlands was canceled due to scheduling conflicts. The 32 NATO member countries, which account for about 55% of global defense spending, are significantly increasing their military budgets in response to changing security environments. The South Korean government plans to broaden its export base by enhancing cooperation with NATO, the world's largest defense market. Although South Korea is not a NATO member, it was invited to participate as part of the 'IP4' (Indo-Pacific Partners) alongside Japan, New Zealand, and Australia. During the NATO summit, President Yoon officially proposed elevating the defense industry partnership to 'K-NATO Defense Industry Partnership 2.0,' moving beyond simple arms transactions to joint production, research, and operations. He also initiated discussions on strengthening institutional cooperation, including NATO-standard information sharing and a 'procurement basic agreement,' which outlines the legal and administrative aspects necessary for logistics and defense cooperation and procurement contracts between NATO and partner countries. The agreement is expected to pave the way for South Korean companies to enter the NATO joint procurement market, valued at 15 trillion won annually. National Security Office Director Kim Sung-han stated on July 7 at a press briefing in Ankara, Turkey, that they have secured a foothold for entering the NATO defense market and building a robust defense supply chain. He added that South Korea will now participate as an observer in multinational cooperation projects, including ammunition and space projects, which NATO allies have been jointly developing, and that this expands South Korea's involvement in defense raw materials projects. Participating in ammunition, defense, and raw materials projects will enhance interoperability between South Korea and NATO weapon systems and contribute to stable procurement conditions for South Korean military supplies. NATO allies agreed at a summit in The Hague in June 2022 to increase defense spending to 5% of GDP by 2035, up from the current 2%. Additionally, President Yoon pledged $100 million in comprehensive support for Ukraine, although this support will not include lethal weapons. Director Kim emphasized that the government has consistently supported Ukraine through various channels, including humanitarian aid, and that the $100 million commitment is an extension of that support. He stated, "Through our comprehensive support pledge for Ukraine, we have demonstrated our commitment to contributing to international peace and security. South Korea will continue to work with the international community to ensure that the horrific war ends soon and that a peaceful daily life can be restored." Following the NATO summit, President Yoon will begin a state visit to Mongolia on July 9, marking the first visit by a South Korean president to Mongolia in 15 years since 2011.* This article has been translated by AI. 2026-07-09 07:52:00
  • President Yoon Suk Yeol Begins State Visit to Mongolia, Declares Golden Era for Korea-Mongolia Relations
    President Yoon Suk Yeol Begins State Visit to Mongolia, Declares 'Golden Era' for Korea-Mongolia Relations 이재명 대통령이 9일(현지시간) 나토(NATO·북대서양조약기구) 일정을 마무리하고 몽골 국빈 방문 일정에 돌입했다. 이 대통령은 이날 오전 몽골 칭기즈칸 공항에 도착했다. 이번 방문은 오흐나 후렐수흐 몽골 대통령의 초청에 따라 이뤄진 것으로, 우리 정상이 국빈 자격으로 몽골을 찾은 것은 15년 만이다. 이 대통령은 도착 직후 환영 행사에 참석한 뒤 곧바로 울란바토르에서 후렐수흐 대통령과 정상회담을 갖는다. 회담에서는 공급망, 핵심 광물 등에 관한 협력 강화 방안이 논의될 것으로 보인다. 회담 후 두 정상은 협정·양해각서(MOU) 교환식 및 공동 언론발표를 통해 직접 성과를 알릴 계획이다. 특히 양국 관계의 미래 비전을 담은 ‘한·몽 관계의 황금시대’ 공동선언을 발표한다. 이어 같은 날 저녁 이 대통령은 양국 정부 및 기업 인사들이 경제 협력 방안을 논의하는 ‘한·몽 비즈니스 포럼’에서 기조연설을 할 계획이다. 10일에는 몽골에서 인술을 펼치며 독립운동을 지원한 이태준 열사 기념관을 찾고, 몽골 교민들과 오찬 간담회를 한다. 몽골 국회의장 및 총리 접견, 대통령 주최 국빈 만찬 등의 일정도 예정돼 있다. 국빈 방문 마지막 날인 11일에는 후렐수흐 대통령과 함께 몽골 최대 명절인 ‘나담축제’ 개막식에 주빈으로 참석하는 것을 끝으로 순방을 마무리하고 귀국하다.* This article has been translated by AI. 2026-07-09 07:48:00
  • Trump Warns Iran of Severe Consequences for Attacking Ships as US Launches Airstrikes
    Trump Warns Iran of Severe Consequences for Attacking Ships as US Launches Airstrikes The United States has launched airstrikes for two consecutive days in response to Iran's attacks on commercial vessels in the Strait of Hormuz. President Donald Trump warned that Iran would face a stronger military response if it continues its assaults.On July 8, Trump posted images and videos on the social media platform Truth Social, which he claimed depicted Iran's attacks. He stated, "This is a retaliation for Iran's attack on ships yesterday," adding, "If this happens again, it will be much more serious." The US Central Command also announced the initiation of additional airstrikes targeting Iran. The command explained that these attacks aim to weaken Iran's capabilities that threaten the freedom of navigation in the Strait of Hormuz.On the previous day, US forces struck over 80 targets within Iran, including air defense systems, command and control facilities, coastal radar stations, anti-ship missile capabilities, and small boats belonging to the Islamic Revolutionary Guard Corps (IRGC).The US believes that Iran attacked three commercial vessels, including a liquefied natural gas (LNG) carrier registered in Qatar and oil tankers registered in Saudi Arabia and Liberia, in the Strait of Hormuz on July 6 and 7. The US has classified these actions as violations of a memorandum of understanding (MOU) signed last month.This escalation has effectively halted subsequent negotiations between the US and Iran. Trump, speaking in Ankara, Turkey, during a NATO summit, expressed skepticism about further negotiations, stating, "I consider the agreement with Iran to be over." Iran has retaliated, claiming it targeted US military facilities in Bahrain and Kuwait.The Strait of Hormuz is a critical route for global oil transportation. The cycle of ship attacks and retaliatory airstrikes is heightening tensions in the Middle East and raising concerns over energy transport security.* This article has been translated by AI. 2026-07-09 07:40:00