Chipflation fears cool Korea's chip output SEOUL, June 30 (AJP) - South Korea's sharp pullback in chip output in May is adding to signs that the global memory crunch is no longer confined to data centers, with chipflation from soaring memory prices beginning to strain consumer spending and factory floors. Factory output fell 3.0 percent from the previous month in May, matching its steepest monthly drop in a year, according to the Ministry of Data and Statistics on Tuesday. The index of all-industry production, exclu June 30, 2026

Jeju Air carries over 1 million foreign passengers in first five months of this year SEOUL, June 30 (AJP) - Low-cost carrier Jeju Air carried more than 1 million foreign passengers during the first five months of this year, driven by demand from Japanese and Chinese travelers amid growing interest in K-pop and Korean culture. The budget carrier said that out of about 3.59 million passengers on international routes from January to May, about 1.06 million or 29.5 percent were foreigners, up 23 percent from about 860,000 a year earlier. Japanese passengers were th June 30, 2026

Canada says split submarine order unlikely due to higher costs SEOUL, June 30 (AJP) - Canada is unlikely to divide its planned submarine order between South Korean and German bidders because operating two different fleets would increase costs and complexity, the country’s defense minister said. The Canadian Patrol Submarine Project, or CPSP, calls for the acquisition of up to 12 diesel-powered submarines to replace Canada’s aging Victoria-class fleet. The total value of the project, including construction and 30 years of maintenance June 30, 2026

Samsung Electronics' largest union votes to retain chief SEOUL, June 30 (AJP) - The Samsung Electronics chapter of Samsung Group's Super Enterprise Labor Union (SELU), the company's largest labor union, has reaffirmed confidence in its head Choi Seung-ho after he brokered record compensation package for chipmaking employees, the union said Monday. According to the union, 33,550 of 38,336 participating members, or 87.52 percent, voted in favor of retaining Choi as chairman. The vote was held from June 24 to June 30, with 38,336 June 30, 2026

Samsung, SK, and Micron face class action amid consumer IT price surge SEOUL, June 30 (AJP) -A U.S. antitrust class action accusing Samsung Electronics and SK hynix of South Korea and U.S. chipmaker Micron Technology who dominate the global random memory market of conspiring to restrict conventional memory supplies has emerged as soaring AI-driven DRAM prices ripple through the consumer electronics industry, forcing manufacturers to raise prices for smartphones, PCs and gaming devices. The proposed class action, filed June 25 in the U.S. District Co June 30, 2026

Samsung, SK bet over $650 billion on Korea's second memory hub SEOUL, June 29 (AJP) - Samsung Electronics and SK hynix are joining forces to build a second memory semiconductor hub along South Korea's southwestern coast, committing more than 1,000 trillion won ($650 billion) in what would become one of the world's largest semiconductor expansion projects as the country races to preserve its leadership in AI-era memory chips. The initiative, unveiled during President Lee Jae Myung's "Three Mega Projects" briefing at the p June 29, 2026

Language, alliances emerge as new fronts in Canada's submarine race SEOUL, June 29 (AJP) - Outsourcing submarines was never expected to become this complex, as the head-to-head contest between South Korean and German shipbuilders for Canada's fleet of 12 new submarines increasingly extends beyond price, technology and delivery schedules to language, industrial partnerships and geopolitical alliances. The latest twist came after a senior executive at Germany's ThyssenKrupp Marine Systems (TKMS) argued that Canada's long-term interests wou June 29, 2026

Hanwha launches job academy for 476 young job seekers SEOUL, June 29 (AJP) - Hanwha Group said Sunday it will launch a hands-on training program for 476 young job seekers in fields including shipbuilding, defense, information technology, artificial intelligence, marketing and construction. The Hanwha Naeil Academy was created as part of the government-led K-New Deal Academy initiative, which is overseen by the Ministry of Trade, Industry and Resource and the Ministry of Employment and Labor. The Korean word “naeil” can m June 29, 2026

Hyundai Motor to resume wage talks with unionized workers SEOUL, June 29 (AJP) - Automaker Hyundai Motor on Monday called on its labor union, which secured the right to strike last week, to resume wage talks. CEO Choi Young-il visited the union office earlier in the day, where he said he wanted to resume talks that had stalled after negotiations with unionized workers broke down on June 12. Choi's visit suggests that the two sides could return to the negotiating table as early as this week, with Choi expected to put forward a prop June 29, 2026

SMEs shed 98,000 jobs in April amid sluggish production and rising costs SEOUL, June 29 (AJP) - Small and midsize enterprises (SMEs) saw their workforce shrink amid sluggish production, as the lingering conflict in the Middle East pushed up energy and raw material costs, the Korea Small Business Institute said on Monday. According to the state-run research institute, the number of employees at SMEs or workplaces with fewer than 300 employees totaled 29.12 million, down 98,000 from a year earlier. In contrast, employment at workplaces with 300 or June 29, 2026