Latest by
-
Hanmi Semiconductor Shares Surge Over 20% Following SpaceX Investment Announcement Hanmi Semiconductor's shares have risen over 20% following the announcement of a 50 billion won investment in SpaceX. According to the Korea Exchange, as of 1:48 PM, Hanmi Semiconductor's stock was trading at 349,500 won, up 58,500 won (20.10%) from the previous trading day. The decision to invest in the aerospace company SpaceX has sparked optimism among investors regarding future growth potential. Hanmi Semiconductor announced at 9:01 AM that its board of directors had resolved to invest 50 billion won in SpaceX. This investment represents approximately 7.24% of the company's equity, which totals 690.3 billion won. The acquisition is scheduled for June 16 and will be conducted through on-market purchases. The company stated that the investment aims to capitalize on the explosive demand for artificial intelligence (AI), satellite communications, aerospace, and advanced semiconductor technologies, highlighting the growth potential of Elon Musk's Terafab and SpaceX. SpaceX is set to go public tonight, with an expected market capitalization of $1.75 trillion based on an offering price of $135 per share. The offering size is projected to be $75 billion, surpassing the previous record held by Saudi Aramco at $29.4 billion. Lee Jae-gwang, a researcher at LS Securities, noted that while the price-to-sales ratio (PSR) is high based on the offering price, SpaceX has secured a near-monopoly position in the infrastructure layer of the AI, connectivity, and space markets. He added that the vertical integration from infrastructure to chips (Terafab) to models (Grok) and applications (Cursor) could significantly improve profitability in the long term.* This article has been translated by AI. 2026-06-12 14:09:00 -
SpaceX Faces Valuation Debate Ahead of IPO as Investors Express Concerns SpaceX has announced a staggering valuation of $1.77 trillion ahead of its initial public offering (IPO). However, some investors are expressing skepticism, suggesting that the company is overly reliant on CEO Elon Musk's future visions rather than its current performance, according to a report by The New York Times on June 11. According to the Times, the company has set its IPO price at $135 per share, which translates to a valuation of $1.77 trillion. SpaceX is expected to begin trading on the stock market on Friday, with this IPO seen as a test of market confidence in Musk's strategies related to space and artificial intelligence (AI). The primary concern revolves around the company's financial health. The Times reported that SpaceX incurred a loss of $4.3 billion in the first quarter of this year, while revenue for the same period was $4.7 billion. Although revenue is increasing, there are doubts about whether the valuation exceeding $1 trillion can be justified given the substantial costs associated with AI development. Long-term growth projections are also fueling controversy. The company claims that the market it anticipates tapping into could reach $28.5 trillion, which includes plans for AI data centers in space and factories on the Moon. The Times noted that “to realize such blueprints, unproven technologies and business viability must be demonstrated.” Prominent investors have publicly raised questions as well. Jim Chanos, who predicted the Enron collapse, expressed concerns about SpaceX's financial structure. Michael Burry, known for predicting the 2008 financial crisis, pointed out that even if the stock price rises post-IPO, it may rely more on investor enthusiasm and buying pressure than on actual performance. Ross Gerber, CEO of Gerber Kawasaki and an existing shareholder, remarked, “The company’s valuation has skyrocketed from $400 billion 13 months ago to $1.77 trillion now,” adding that “investors are paying a very high price.” Investment banks are presenting even more aggressive figures. The Times, citing the Financial Times, reported that Goldman Sachs informed investors that SpaceX's revenue, which was $18.7 billion last year, could increase to $474 billion by 2030. According to The Wall Street Journal, Morgan Stanley shared projections estimating revenue could reach $3.4 trillion by 2040. Conversely, investment analysis firm Morningstar has deemed the IPO price as overvalued, estimating the fair value at around $780 billion. However, they noted that in the most optimistic scenario, where the technology for reusing the Starship rocket like an aircraft and the economics of space data centers are proven, the valuation could rise to $1.97 trillion. Musk's rapid shifts in business direction ahead of the IPO are also seen as a source of uncertainty. The Times reported that Musk began mentioning plans for space data centers last year and has emphasized related strategies after merging his AI company, xAI, with SpaceX in February. Since then, the company has been increasing its focus on AI, pursuing acquisitions like the coding startup 'Cursor' and contracts to lease AI computing servers to Anthropic and Google. Skeptics believe that the long-term plans are undergoing significant changes just before the IPO. Chanos stated, “xAI is transitioning from a company developing AI models to an emerging cloud service provider renting servers to other firms,” adding that this sector is akin to an infrastructure business that tends to receive relatively low valuations in public markets.* This article has been translated by AI. 2026-06-12 13:57:00 -
Asia races toward solar as energy security trumps fuel imports SEOUL, June 12 (AJP) - From rooftops in Manila to industrial parks outside Seoul, Asia is rapidly turning to solar power as Middle East instability and soaring AI-driven electricity demand force governments to rethink energy security. The blockade of the Strait of Hormuz earlier this year exposed the vulnerability of fuel-importing economies across Asia, accelerating what analysts describe as a race to generate more power at home. For many governments, renewable energy is increasingly viewed not only as a climate solution but as a strategic asset. Indonesia has elevated solar development to a national priority, while the Philippines recorded a surge in imports of Chinese solar equipment in the weeks following the conflict. Similar shifts are emerging across the region as policymakers seek to reduce exposure to volatile fuel markets and geopolitical disruptions. The trend is becoming visible in global electricity markets. Natural gas accounted for 21.8 percent of global power generation in 2025, down from 23.9 percent in 2020, according to energy think tank Ember. Solar generation expanded by 636 terawatt-hours last year — roughly 17 times the growth contributed by gas — and supplied about three-quarters of new global electricity demand. China remains the dominant force behind the expansion. Chinese solar cell and panel exports to Southeast Asia jumped 75 percent from a year earlier in April, while shipments to Africa climbed 83 percent, customs data showed. The gains came even after Beijing ended export tax rebates that had helped keep global solar prices exceptionally low. The flood of low-cost Chinese equipment has accelerated deployment across emerging markets while simultaneously putting pressure on manufacturers in Europe, North America and parts of Asia. Yet governments appear increasingly willing to tolerate dependence on Chinese hardware if it allows them to build domestic power capacity more quickly. The urgency is being amplified by a second force: artificial intelligence. Across Asia, governments and utilities are preparing for a surge in electricity demand from data centers, cloud computing facilities and semiconductor manufacturing complexes. Industry forecasts suggest AI-related power consumption could become one of the largest drivers of electricity demand growth over the next decade. South Korea offers perhaps the clearest example. Despite being one of the world's leading technology exporters, South Korea remains a laggard in renewable energy adoption. Its share of renewable electricity generation remains among the lowest in the OECD, reflecting decades of reliance on imported fossil fuels and nuclear power. Now, policymakers are attempting to reverse that trend. Under its first renewable energy master plan unveiled in May, Seoul aims to nearly triple renewable power capacity to 100 gigawatts by 2030 from about 37 GW today. Solar power is expected to account for 57 GW of that total, requiring the installation of roughly 11 GW of new solar capacity annually. The government also plans to expand domestic solar module production capacity beyond 10 GW per year, develop more than 10 gigawatt-scale solar projects in central regions including the capital area, and strengthen transmission infrastructure needed to integrate new renewable generation. Lawmakers are simultaneously moving to ease setback regulations that have constrained solar development for years and are advancing legislation that would allow wider deployment of agrivoltaic projects combining agriculture and solar generation. Additional support may arrive through the tax system. A production tax credit modeled in part on the U.S. Inflation Reduction Act is currently under review, with a tax code revision expected in July viewed by analysts as one of the most important policy catalysts for the sector this year. "The renewable energy master plan and the power supply plan are the two pillars for resolving the national tasks of realizing carbon neutrality and securing a stable energy supply," Minister of Climate, Energy and Environment Kim Sung-hwan said during a recent Energy Committee meeting in Seoul. Financial markets have already begun positioning for the shift. DS Investment & Securities this week identified HD Hyundai Energy Solution and SK Eternix among its preferred renewable-energy plays, forecasting annual energy-storage demand of 4-6 GW by 2030 and approximately 72.8 trillion won ($48 billion) in grid investment through 2038. Much of that spending is expected to be driven by AI infrastructure projects, including hyperscale data centers and the massive semiconductor manufacturing cluster under construction in Yongin, south of Seoul. "Given the policy direction and timing, solar companies stand to gain considerably," said Ahn Joo-won, an analyst at DS Investment & Securities. "What is needed are incentive programs with clearly defined timelines that can support investment visibility for at least five to 10 years." Opportunities may also be emerging beyond Asia. The European Union last month restricted public funding for solar inverters sourced from what it classified as high-risk countries, including China. The decision affects a market representing more than 14 GW of annual installations and potentially creates openings for suppliers from South Korea, Japan and the United States. Korean electrical equipment makers such as LS Electric and Hyosung Heavy Industries are viewed as potential beneficiaries, although analysts caution that inverter-specific manufacturing capacity and European certification requirements could limit near-term gains. Competition from low-cost Chinese producers is unlikely to disappear. Chinese manufacturers continue to dominate global solar supply chains, from polysilicon and wafers to cells and finished modules, allowing them to undercut rivals on price even as governments diversify procurement. Yet the direction of travel is becoming increasingly clear. As countries from Indonesia and the Philippines to South Korea and members of the European Union seek to reduce dependence on imported fuels and diversify critical supply chains, solar power is evolving from an environmental policy objective into a strategic component of national security. For South Korea, the challenge is no longer whether the solar transition is coming. The question is whether the country can move fast enough to secure a meaningful position in one of the fastest-growing energy markets in the world. 2026-06-12 13:51:38 -
KOSPI Surges Over 8% to Break 8400 Mark Amid Foreign and Institutional Buying The KOSPI index surged over 8% during trading on June 12, breaking the 8400 mark as foreign and institutional investors poured in over 5 trillion won. This surge triggered a buying sidecar, reflecting a strong appetite for riskier assets. Major stocks, including Samsung Electronics and SK Hynix, led the index's rise. As of 1:29 PM, the KOSPI was up 654.32 points (8.44%) at 8418.92, according to the Korea Exchange. The index opened at 8263.85, rising by 499.90 points (6.44%) before surpassing 8400. In the early trading session, a buying sidecar was activated in the securities market. The Korea Exchange announced that it halted the effectiveness of program buy orders for five minutes at 9:06 AM due to a sharp rise in KOSPI 200 futures, which jumped 7.76% to 1332.00 points. Demand was robust, with foreign and institutional investors net buying 2.4589 trillion won and 3.2953 trillion won, respectively, driving the index higher. In contrast, individual investors sold off 5.558 trillion won. Most large-cap stocks showed strong performance. Samsung Electronics rose by 12.29%, SK Hynix by 8.90%, SK Square by 13.93%, Samsung Life by 8.63%, Samsung C&T by 6.83%, Hyundai Motor by 5.70%, and LG Energy Solution by 4.55%. However, Samsung Electro-Mechanics, which had seen recent gains, dipped by 0.11% as it took a breather. The KOSDAQ also experienced a rise, with the index up 49.45 points (4.96%) at 1046.38 at the same time. In the KOSDAQ market, institutions net bought 482.2 billion won, while individuals and foreigners sold off 75 billion won and 427.1 billion won, respectively. Among the top market-cap stocks, EcoPro BM rose by 5.72%, EcoPro by 7.72%, Rainbow Robotics by 8.26%, and Rino Technology by 8.42%. Meanwhile, Wonik IPS surged to its price limit, hitting the upper limit. However, some biotech stocks, including Alteogen (-0.14%) and Peptron (-0.21%), showed weakness.* This article has been translated by AI. 2026-06-12 13:48:00 -
SpaceX Raises $3.47 Billion in Japan, Allowing Individual Investors to Participate SpaceX, the American aerospace company led by Tesla CEO Elon Musk, has raised approximately 347 billion yen (about $3.47 billion) through its initial public offering (IPO) in Japan. This marks the first instance where Japanese retail investors could participate in an American company's IPO from the offering stage. While South Korean investors were excluded from this offering, Japanese investors were able to subscribe to shares at a predetermined public price through major brokerages such as Mizuho Securities, Rakuten Securities, and SBI Securities. The Nihon Keizai Shimbun reported on June 12 that SpaceX announced it would raise $2.185 billion, or about 347 billion yen, through its IPO in Japan. This amount is nearly equivalent to the 348 billion yen raised by Tokyo Metro during its IPO in 2024. It is the largest amount ever raised by a foreign company in Japan through an IPO. Trading on the Nasdaq is set to begin at 9:30 a.m. Eastern Time on June 12, which will be 10:30 p.m. in Korea and Japan. Japanese investors will be able to trade SpaceX shares from the first day of listing through their local brokerages, although it may take several hours after trading begins for the initial price to be determined. The funding amount in Japan was revealed in a corrected securities registration statement submitted by SpaceX to the Kanto Finance Bureau on the same day. Previously, SpaceX had increased its target for fundraising in Japan from a maximum of 320 billion yen to 400 billion yen in a document submitted on June 5. The public offering price is set at $135 per share, approximately 21,500 yen, with 16.29 million shares available for subscription in Japan. The total global fundraising amount is $75 billion, or about 12 trillion yen, with Japan accounting for roughly 3% of that total. The amount raised by SpaceX in Japan is comparable to major Japanese IPOs. According to the I&N Information Center, previous Japanese IPOs with fundraising amounts around 340 billion yen include Tokyo Metro and Sony Financial Holdings. While direct comparisons are challenging, SpaceX's fundraising in Japan rivals that of major Japanese companies. First Time Japanese Retail Investors Allowed to Participate in U.S. IPO This IPO is particularly noteworthy as it is the first time Japanese retail investors have been allowed to participate in an American company's IPO from the offering stage. Mizuho Securities, acting as the underwriter, collaborated with Mizuho Securities, Rakuten Securities, and SBI Securities to manage the offering in Japan. While South Korean retail investors could not participate, Japanese investors were able to subscribe to SpaceX shares at the confirmed public price through these brokerages. The enthusiasm among Japanese retail investors has exceeded expectations. A 40-year-old man from Hiroshima Prefecture stated, "This is a global festival. I wanted to get in on a hot stock," explaining his reason for subscribing to the IPO. The surge in interest led to a fourfold increase in account opening applications at Mizuho Securities in early June compared to the average for 2025. Rakuten Securities also experienced a surge in applications. Yuji Gusunoki, president of Rakuten Securities, noted, "We received IPO applications that far exceeded our expectations." After Rakuten Securities posted IPO application information on its website on May 27, the average daily account opening applications until June 4 increased to about three times the average for May 2025. The book-building period, initially set to end at 6 a.m. on June 12, was moved up to 2 a.m. due to the surge in applications. It is also significant that a major foreign company raised substantial funds in Japan without listing on the Japanese stock exchange. Prominent U.S. startups like Anthropic and OpenAI are also seeking significant investment and are rumored to be considering IPOs in the U.S. this year. Japan's household financial assets amount to approximately 2,300 trillion yen, increasing the likelihood that foreign tech companies will target Japanese retail investors for future offerings. This development opens up opportunities for Japanese retail investors to participate in high-growth foreign company IPOs through their local brokerages. However, it may pose challenges for companies preparing to raise funds in the Japanese market. If personal investments gravitate towards superior U.S. tech companies, demand for Japanese IPOs could diminish. Taxi-hailing app company GO is set to list on the Tokyo Stock Exchange's Growth Market on June 16. While it is expected to be the largest IPO in Japan this year, its fundraising target is approximately 97.2 billion yen, only a quarter of SpaceX's offering in Japan.* This article has been translated by AI. 2026-06-12 13:45:00 -
K Shipbuilding First in Korea to Achieve U.S. CMMC Certification, Expands into MRO K Shipbuilding announced on June 12 that it has become the first medium-sized shipyard in South Korea to receive Level 1 certification from the U.S. Department of Defense's Cybersecurity Maturity Model Certification (CMMC). CMMC is a cybersecurity certification system that evaluates the information protection levels of companies in the defense supply chain. It is considered a prerequisite for participation in U.S. defense procurement and U.S. Navy maintenance, repair, and overhaul (MRO) projects. The Level 1 certification obtained by K Shipbuilding indicates that it has established a cybersecurity system capable of securely protecting Federal Contract Information (FCI). This is particularly significant as it meets the basic security requirements for participating in U.S. Navy MRO projects. Recently, the U.S. Navy has been expanding its collaboration with the South Korean shipbuilding industry to address domestic maintenance capacity shortages. Major shipbuilders in South Korea are also actively pursuing entry into the MRO market for naval vessels. In this context, K Shipbuilding has established a strong foothold for future entry into the U.S. Navy MRO market. A representative from K Shipbuilding stated, "Achieving the CMMC Level 1 certification is an official recognition that our information protection system meets the stringent security requirements of the U.S. Department of Defense. Based on this, we plan to actively participate in U.S. Navy MRO projects and prepare for the gradual acquisition of CMMC Level 2 certification." Additionally, K Shipbuilding is in the process of signing the U.S. Navy Maintenance Support Agreement (MSRA), a key procedure for participating in U.S. Navy MRO projects. The application for this agreement has been completed, and approval is currently pending. The MSRA is considered essential for conducting maintenance, repair, and upkeep of U.S. Navy vessels.* This article has been translated by AI. 2026-06-12 13:42:00 -
K Shipbuilding First in Korea to Achieve U.S. CMMC Certification, Expands into MRO K Shipbuilding announced on June 12 that it has become the first medium-sized shipyard in South Korea to receive the U.S. Department of Defense's Cybersecurity Maturity Model Certification (CMMC) Level 1. CMMC is a cybersecurity certification system that evaluates the information protection levels of companies in the defense supply chain. It is considered a prerequisite for participation in U.S. defense procurement and U.S. Navy maintenance, repair, and overhaul (MRO) projects. The Level 1 certification indicates that K Shipbuilding has established a cybersecurity system capable of securely protecting Federal Contract Information (FCI). This achievement is particularly significant as it meets the basic security requirements for participating in U.S. Navy MRO projects. Recently, the U.S. Navy has been expanding its collaboration with the South Korean shipbuilding industry to address domestic maintenance capacity issues, and major shipbuilders in South Korea are actively pursuing entry into the MRO market. In this context, K Shipbuilding has established a strong foothold for future entry into the U.S. Navy MRO market. A representative from K Shipbuilding stated, "Achieving the CMMC Level 1 certification officially recognizes that our information protection system meets the stringent security requirements of the U.S. Department of Defense. Based on this, we plan to actively participate in U.S. Navy MRO projects and gradually prepare for CMMC Level 2 certification as well." Additionally, K Shipbuilding is in the process of signing the U.S. Navy Maintenance Support Agreement (MSRA), a key procedure for participating in U.S. Navy MRO projects. The application has been completed, and approval is currently pending. The MSRA is considered essential for conducting maintenance, repair, and upkeep tasks on U.S. Navy ships.* This article has been translated by AI. 2026-06-12 13:42:00
-
Ruling Party Rejects Proposal to Fully Abolish Supplementary Investigation Authority Jung Cheong-rae, the leader of the Democratic Party of Korea, stated on June 12 that he supports the "full abolition of supplementary investigation authority." However, party officials quickly clarified that this issue has not been discussed internally. President Lee Jae-myung has indicated that the matter of supplementary investigation authority, part of prosecutorial reform, will be left to the National Assembly, highlighting a communication gap within the party. Lee Joo-hee, the party's floor spokesperson, told reporters at the National Assembly that "there is currently no discussion on the abolition of supplementary investigation authority within the party." She added, "While it may be discussed at an appropriate time, there are no plans for it yet." With ongoing issues such as the National Election Commission investigation and the preparation for the confirmation hearing of Prime Minister nominee Han Seung-soo, the party feels it is not the right time to engage in discussions about supplementary investigation authority. Lee emphasized the need to gather various opinions from both within and outside the party, stating, "Since this involves changing the criminal procedure law, we will keep multiple options open." Kang Jun-hyun, the party's chief spokesperson, also noted that there has not been sufficient communication regarding Jung's message, adding that there will be thorough deliberations among the party's leadership in the future. Some observers have pointed out that while Jung emphasizes a united front between the party and the government, he seems to be at odds with President Lee, who has urged caution regarding supplementary investigation authority. In response, Kang stated, "There may be personal interpretations, but for now, it would be best to focus on pressing matters such as the National Election Commission situation, the Prime Minister's confirmation hearing, and economic issues related to the Middle East."* This article has been translated by AI. 2026-06-12 13:39:00 -
South Korea's Lee Kang-in Shines in 2-1 Comeback Victory Over Czech Republic The South Korean national soccer team secured a 2-1 comeback victory against the Czech Republic, with Lee Kang-in's performance in midfield drawing significant attention. According to soccer statistics, Lee received a rating of 8.1, one of the highest among the team's attackers. Notably, he achieved an impressive 100% pass completion rate, playing a crucial role in South Korea's offensive buildup. Lee attempted a total of 37 passes, all of which were successful. He completed 24 forward passes into the opponent's half, as well as all 13 passes made in his own half. Additionally, he executed two long passes, both of which were accurate, underscoring his key role in transitioning the attack. His offensive contributions were also noteworthy, with one assist and an expected assist (xA) of 0.21. He created one significant scoring opportunity and made three key passes, acting as a catalyst for the team's offense. Lee's influence was evident in the passing map, where he showcased a wide range of movement across the pitch, consistently supplying passes forward. His high volume of passes in the opponent's half indicated that he played a pivotal role in the attacking process, rather than merely maintaining possession. South Korea's victory was secured with goals from Hwang In-beom and Oh Hyun-kyu. While the spotlight was on the scorers, Lee's contributions in orchestrating the game and creating scoring opportunities were also recognized as foundational to the win. Online reactions included comments such as, "Is a 100% pass completion rate even possible?", "His ability to control the game was more impressive than his attacking points", "When Lee has the ball, the tempo of the attack improves", "He showcased his class in midfield", "He was the invisible MVP", and "Today, just play table tennis as much as you want".* This article has been translated by AI. 2026-06-12 13:39:00 -
Democratic Party Rejects Calls for Complete Abolition of Supplementary Investigation Authority Jung Cheong-rae, the leader of the Democratic Party, stated on June 12 that there has been no internal discussion regarding the complete abolition of supplementary investigation authority. This comes as President Lee Jae-myung has indicated that the issue will be left to the National Assembly as part of prosecutorial reform, highlighting a communication gap within the party. During a press briefing at the National Assembly, spokesperson Lee Joo-hee remarked, "There are currently no discussions taking place regarding the abolition of supplementary investigation authority within the party." She added, "While discussions may occur at an appropriate time, there are no plans for that yet." Lee pointed out that the party is currently focused on pressing issues, including the investigation into the Election Commission and preparations for the confirmation hearing of Prime Minister nominee Han Seung-soo, making it difficult to prioritize discussions on supplementary investigation authority at this time. Lee emphasized the need to gather various opinions, both from the advisory committee on prosecutorial reform and from within and outside the party, stating, "Since this involves changing the criminal procedure law, we will keep multiple options open." Kang Jun-hyun, the party's chief spokesperson, also noted that there has not been sufficient communication regarding Jung's message, adding, "There will be ample deliberation among the party's leadership in the future." Some observers have reacted to Jung's emphasis on party unity while simultaneously urging caution regarding supplementary investigation authority, suggesting a disconnect with President Lee's stance. In response, Kang stated, "There may be personal interpretations, but for now, it would be best to focus on pressing matters such as the Election Commission situation, the Prime Minister's confirmation hearing, and economic issues."* This article has been translated by AI. 2026-06-12 13:39:00