Chey urges patience on SK hynix as AI demand set to surge SEOUL, July 17 (AJP) - Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), said that investors in SK hynix would be wiser to hold their shares than to trade them, arguing that memory chips remain indispensable to the artificial intelligence boom. "I don't know where the stock will be next month either, but the best way to preserve your wealth is to sit tight rather than buy and sell," Chey said Friday during an AI dialogue at the KCCI summer fo July 17, 2026

Lee names Dec. 3 'National Sovereignty Day' SEOUL, July 17 (AJP) - President Lee Jae Myung said he would designate every Dec. 3 as "National Sovereignty Day," vowing to preserve the spirit of the mass protests that turned back an attempted power grab so that it endures for generations to come. The date marks the night in 2024 when lawmakers rushed to parliament to overturn a short-lived martial law declaration, an episode Lee's supporters have cast as a peaceful democratic uprising they call the "Revolution July 17, 2026

Samsung's internal divide mirrors Korea's widening chip boom gap SEOUL, July 16 (AJP) - "This is not an issue of money," shouted Koo Jung-hwan, secretary-general of Samsung Electronics' Donghaeng union, before more than 5,000 employees gathered outside the company's Suwon campus Thursday, exposing a widening divide that increasingly mirrors South Korea itself, where the AI-driven semiconductor boom is creating winners and losers even within the country's biggest company. The demonstration, one of Samsung's largest labo July 16, 2026

Eased fuel surcharges boost overseas bookings, but keep travelers on short-haul trips SEOUL, July 16 (AJP) - South Koreans are booking more overseas trips as falling jet fuel prices ease airline surcharges, but demand remains concentrated on nearby destinations as the weak won and high travel costs keep them tightening their purse strings. The country's flagship carrier Korean Air on Thursday said that its international fuel surcharge for tickets issued in August will fall five levels, from Level 19 in July to Level 14. The airline will charge between 35,200 w July 16, 2026

South Korea to establish unified military academy in Daejeon SEOUL, July 16 (AJP) - South Korea decided Thursday to establish a four-year Korea Armed Forces Academy at the Jaundae military complex in Daejeon by merging the Army, Navy and Air Force academies. Defense Minister Ahn Gyu-back announced the decision after a government-ruling Democratic Party meeting at the National Assembly in Seoul. “The new Korea Armed Forces Academy will be located at Jaundae in Daejeon,” Ahn said, adding that the government would build a high-tec July 16, 2026

CJ, Sajo raise food prices as post-election domino looms SEOUL, July 16 (AJP) - Two of South Korea's major food makers, CJ CheilJedang and Sajo Group, will raise prices on staple grocery items in the coming weeks, stoking fears of a fresh round of domino increases across an industry already straining under higher costs. CJ CheilJedang will lift prices on 27 products — including its flagship Hetbahn instant rice, dumplings and grilled fish — by an average of 8 percent at hypermarkets from July 30, with convenience stores fo July 16, 2026

Seoul aims for AI's top two, plans nationwide model this year SEOUL, July 16 (AJP) - South Korea's technology chief announced the country would push to break into the world's top two artificial-intelligence powers, buoyed by an international assessment ranking it third, and vowed to build a frontier model rivalling those Washington now guards as strategic weapons. Bae Kyung-hoon, Deputy Prime Minister and Minister of Science and ICT, told a presidential briefing on Thursday at the Cheong Wa Dae that a second round of model evaluations July 16, 2026

LG launches AI-enabled water purifier with voice controls SEOUL, July 16 (AJP) - LG Electronics on Thursday launched a new AI-powered water purifier featuring voice controls and personalized dispensing functions, expanding its lineup of connected home appliances as the company integrates artificial intelligence into everyday household products. The LG PuriCare AI Ice Water Purifier allows users to dispense purified water, cold water and ice using natural voice commands, while also serving as a smart home hub capable of controlling compa July 16, 2026

Trump again signals role for Korean shipbuilders in US naval buildup SEOUL, July 16 (AJP) - U.S. President Donald Trump has again raised the prospect of working with South Korean shipbuilders as Washington seeks to rapidly expand and modernize its aging naval fleet. Speaking Wednesday at the Pennsylvania Defense and Innovation Summit at the U.S. Army War College in Carlisle, Trump said his administration would consider South Korean and other foreign companies as part of its shipbuilding efforts. “We’re going to probably look at some of July 16, 2026

MBK, Meritz to inject 200 bln won lifeline into Homeplus SEOUL, July 16 (AJP) - Homeplus, the ailing South Korean supermarket chain teetering on the edge of liquidation, is poised to secure a last-minute rescue after its major shareholder and largest creditor tentatively agreed to provide 200 billion won ($134.5 million) in emergency operating funds. MBK Partners, the private equity firm that controls Homeplus, and Meritz Financial Group reached the provisional agreement on Wednesday, according to financial industry sources. The injection July 16, 2026