Canada's sub project tests viability of 12-vessel fleet SEOUL, June 24 (AJP) - Canada's multibillion-dollar plan to acquire 12 advanced submarines is increasingly becoming a test of workforce capacity as much as military procurement, with the country's marine industry projected to face a shortage of more than 8,000 skilled workers by the end of the decade. The emerging labor crunch is raising questions over how Ottawa will staff two specialized submarine maintenance hubs planned for the Atlantic and Pacific coasts, just as it pre June 24, 2026

Korean Air Force holds first live-fire drill against drone swarm SEOUL, June 24 (AJP) - The South Korean Air Force has conducted its first live-fire exercise against a swarm of drones, using Vulcan cannons, a portable laser system and shotguns to shoot down 50 targets. The Air Force Missile Defense Command carried out the exercise Tuesday at a training range on the country’s west coast in response to the growing threat posed by drone swarms on modern battlefields, the Air Force said Wednesday. Eight Vulcan cannons opened fire simultaneou June 24, 2026

Samsung Elec retakes KOSPI crown on $65 billion buyback plan SEOUL, June 24 (AJP) - Samsung Electronics reclaimed the top spot on South Korea's benchmark KOSPI on Wednesday, ending a two-day reign by rival SK hynix, after unveiling a massive 90 trillion won ($65 billion) stock buyback program over the next three years to support a new employee compensation scheme tied to its AI-driven earnings boom. Samsung Electronics shares closed Wednesday 9.84 percent up at 340,500 won, far outperforming the advances of 3.26 percent in main index an June 24, 2026

Renewables ride the AI power boom, but the grid can't keep up SEOUL, June 24 (AJP) - Renewables are being fully employed to feed the world's hungry AI data centers as farming Mother Nature is cheap and quick to build. Yet a widening gap between green ambition and grid reality — from Beijing to Naju — is exposing the limits of an energy transition running at full tilt. Global electricity demand from data centers is set to roughly double to about 945 terawatt-hours by 2030 and reach around 1,200 TWh by 2035, the International Ene June 24, 2026

GenAI phones to take 45% of global market in 2026 SEOUL, June 24 (AJP) - Smartphones equipped with generative artificial intelligence (GenAI) will account for nearly half of global shipments next year, even as a deepening memory shortage drives the broader market to its sharpest annual contraction in more than a decade. According to market researcher Counterpoint Research, GenAI-capable handsets are forecast to make up 45 percent of global smartphone shipments in 2026, up from 36 percent from a year earlier. The share is expecte June 24, 2026

Naver Cloud, Siemens partner to bring AI to factory floors SEOUL, June 24 (AJP) - Naver Cloud has joined forces with Siemens to accelerate the adoption of artificial intelligence across the manufacturing sector. The two companies signed a memorandum of understanding Wednesday at Naver 1784 in Seongnam, south of Seoul. Naver Cloud chief executive Kim Yu-won and Siemens Korea President Chung Ha-joong attended, alongside Cedrik Neike, a member of the Siemens managing board and chief executive of its Digital Industries division. Under the June 24, 2026

NC AI unveils upgraded Varco 3D model with sharper shape fidelity SEOUL, June 24 (AJP) - NC AI, the artificial intelligence arm of South Korean game maker NC, announced it had completed development of Varco 3D 2.0, the latest version of its 3D asset-generation service. The new model builds on user feedback and in-house research gathered since the original Varco 3D launched last year, sharply boosting performance over its predecessor, the company said. NC AI said Wednesday the upgrade tackles distortion of original shapes, long regarded as the b June 24, 2026

Cart before the horse: Seoul is moving SOX SEOUL, June 24 (AJP) - The cart has come before the horse. Tuesday's 12 percent crash in Korean chip bellwethers Samsung Electronics and SK hynix reverberated across the Pacific, dragging the Philadelphia Semiconductor Index (SOX) down more than 7 percent and pushing the Nasdaq more than 2 percent lower. It was a reversal of the traditional order in which Wall Street dictated sentiment in Seoul. This time, Seoul exported volatility to New York. The shift reflects how de June 24, 2026

KOTRA forms task force to seize Middle East rebuilding, export openings SEOUL, June 23 (AJP) - South Korea's state trade promotion agency is mobilizing to help domestic firms recover exports and stake out early positions in Middle East reconstruction markets, betting that a fragile US-Iran ceasefire will reopen commercial doors across the region. The Korea Trade-Investment Promotion Agency, known as KOTRA, said it convened an emergency review meeting on Tuesday chaired by president Kang Kyung-sung to map its response to the truce between Washington June 23, 2026

Team Korea throws gas project to sweeten sub pitch to Canada SEOUL, June 23 (AJP) - The Canadian submarine contest is getting bigger and bigger as decision day nears, with Team Korea led by Hanwha Ocean throwing in a $16 billion floating liquefied natural gas project and pitching a broader economic partnership that could help Ottawa reduce its dependence on the United States as an energy market to counter Germany's NATO leverage. The Korean team is targeting a strategic vulnerability. Canada is the world's fifth-largest natural gas June 23, 2026