news highlight

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  UAE sends aircraft for early Cheongung-II delivery SEOUL, June 12 (AJP) - The United Arab Emirates has sent military transport aircraft to South Korea to secure early delivery of Korean-made Cheongung-II missile defense systems, as the Middle East war disrupts key maritime routes, defense sources said Friday. According to military and defense industry sources, the UAE has been dispatching several C-17 transport aircraft to an air base in Daegu since earlier this week to carry Cheongung-II batteries and interceptor missiles. One C June 12, 2026
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  SpaceX IPO fever meets Starlink's reality check in Asia SEOUL, June 12 (AJP) - SpaceX's record-shattering market debut is drawing fresh attention to Starlink, its satellite internet business, as investors look beyond rockets and Mars ambitions to identify the company's most important source of revenue. While SpaceX is best known for reusable rockets and the Starship program, analysts increasingly view Starlink as the company's financial engine. The low-Earth orbit satellite internet network has become SpaceX's largest bus June 12, 2026
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  Hanwha Ocean virtually wins $5 bln KDDX destroyer bid SEOUL, June 12 (AJP) - Hanwha Ocean has virtually been selected as the preferred bidder for South Korea’s next-generation destroyer project, industry sources said Thursday, beating rival HD Hyundai Heavy Industries by less than one point in a closely watched competition. The Defense Acquisition Program Administration, or DAPA, completed its evaluation of proposals for the detailed design and construction of the lead ship for the Korean Destroyer Next Generation, or KDDX, and n June 12, 2026
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  Samsung Biologics, union to resume talks next week SEOUL, June 12 (AJP) - Samsung Biologics and its labor union will resume negotiations next week in a bid to narrow differences over wage increases and personnel system reforms that have strained relations at the South Korean contract drugmaker for months. The two sides agreed to meet on June 16, industry sources said Friday, after the union pressed management to return to the bargaining table and the company responded earlier in the day. Management has proposed first holding work June 12, 2026
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  Homeplus asks Meritz to double emergency loan SEOUL, June 12 (AJP) - Embattled hypermarket chain Homeplus asked its largest creditor, Meritz Financial Group, to extend 200 billion won ($131.4 million) in emergency operating funds, saying the 100 billion won loan currently under review falls short of what it needs to survive court-led rehabilitation. Meritz, which had long balked at the retailer's loan requests, signaled a day earlier that it could lend up to 100 billion won — the amount jointly guaranteed by Homeplus& June 12, 2026
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  S. Korea, US reaffirm goal of NK denuclearization at nuclear consultative talks SEOUL, June 12 (AJP) - South Korea and the United States reaffirmed their shared goal of North Korea’s denuclearization during high-level nuclear deterrence talks in Seoul on Thursday, Seoul’s Defense Ministry said, amid growing concerns that the international focus on Pyongyang’s denuclearization is weakening. The two allies held the sixth session of the Nuclear Consultative Group, or NCG, a bilateral body launched in 2023 to strengthen U.S. extended deterrence ag June 12, 2026
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  Jeju Air launches new daily flight between Incheon and Kobe SEOUL, June 11 (AJP) - Low-cost carrier Jeju Air launched a new daily route linking Incheon to the Japanese city of Kobe, it said on Thursday. The route operates seven flights a week, departing Incheon at 1:35 p.m. and arriving in Kobe at 3:15 p.m., with return flights leaving Kobe at 4:15 p.m. and arriving in Incheon at 6:15 p.m. From next month, departure and arrival times will be slightly adjusted. The port city of Kobe is known for its distinctive architecture and exotic buil June 11, 2026
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  Coupang fined record $409 million over massive data breach SEOUL, June 11 (AJP) - South Korea's privacy watchdog slapped e-commerce giant Coupang with a record 624.7 billion won (US$409.3 million) in fines over a data breach that exposed the personal information of about 37.5 million people, a penalty roughly equal to the company's 2025 operating income. The Personal Information Protection Commission (PIPC) imposed 423.6 billion won for the breach itself — the largest fine ever levied in the country for a single data leak &mda June 11, 2026
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  US approves $292 million sale of AMRAAM missiles to South Korea SEOUL, June 11 (AJP) - The United States has approved the sale of advanced medium-range air-to-air missiles and related equipment to South Korea in a deal worth $292 million, the State Department said Wednesday. The department said it approved a possible Foreign Military Sale to Seoul of 70 AIM-120C-8 Advanced Medium Range Air-to-Air Missiles, known as AMRAAMs, and two AMRAAM guidance sections. The package also includes AMRAAM containers, control sections, support equipment, spar June 11, 2026