Mega chip cluster project in Gwangju hits stumbling block over Air Force training SEOUL, July 13 (AJP) - South Korea's plan to transform a military air base in Gwangju into a major semiconductor cluster is facing another stumbling block, as concerns grow over whether the Air Force can relocate pilot training operations without disrupting combat readiness. The fresh concerns emerged after the government last week handpicked the roughly 8.3 million-square-meter military airport in the southwestern region as the location for the cluster, despite some opposition July 13, 2026

South Korea to steer record tax revenue into AI, physical AI push SEOUL, July 13 (AJP) - South Korea will channel its largest-ever projected tax revenue into a new future-response fund, pouring resources into three mega-projects led by artificial intelligence. Deputy Prime Minister Bae Kyung-hoon, who also serves as science and ICT minister, positioned physical AI as the country's next growth engine, pledging to "export Korea's factories to the world" on the back of a homegrown, full-stack platform. Speaking at the 2026 nation July 13, 2026

Lotte Wellfood's India unit posts 28% first-half sales growth SEOUL, July 13 (AJP) - Lotte Wellfood announced that first-half sales at its Indian subsidiary, Lotte India, climbed about 28 percent from a year earlier, as the company marked the first anniversary of merging its confectionery and ice cream operations there. According to the firm on Monday, India's ice cream division led the gains with 29 percent growth, driven by expanded supply from a new plant in Pune, Maharashtra, which began full-scale operations in February last year. July 13, 2026

Batteries, hydrogen vie for future of freight SEOUL, July 13 (AJP) - The clean-energy contest that upended the passenger car is now rolling into the world's freight lanes, where a single winning technology is proving far harder to crown. Global automakers spent the past decade racing to electrify the family car. That race is largely settled: battery power won. The next front is the heavy truck, and here the map is messier, split between the battery cells that conquered the driveway and the hydrogen fuel cells betting on the July 13, 2026

Global EV separator installations rise 21% in Jan-May as China tightens grip SEOUL, July 13 (AJP) - Global installations of battery separators for electric vehicles climbed more than 20 percent in the first five months of the year, with Chinese suppliers extending their dominance over the market. According to market researcher SNE Research on Monday, separator installations in pure-electric, plug-in hybrid and hybrid vehicles registered worldwide reached about 7.49 billion square meters in the January to May period, a 20.7 percent increase from a year earlie July 13, 2026

BOK dismisses peak concerns over chip cycle as AI demand still outpaces supply SEOUL, July 13 (AJP) - The Bank of Korea has dismissed concerns that the global semiconductor cycle has already peaked, saying investment in artificial intelligence (AI) infrastructure is driving demand faster than manufacturers can expand supply. According to a report submitted to People Power Party (PPP) lawmaker Park Seong-hoon and released on Monday, the Bank of Korea (BOK) said the current semiconductor upcycle differs from previous ones because it is being driven by intense in July 13, 2026

Strong chip demand keeps early July exports at another record high SEOUL, July 13 (AJP) - South Korea's exports in early July reached a record high for the period, as semiconductor exports nearly tripled from a year earlier. According to data released by the Korea Customs Service (KCS) on Monday, exports in the first 10 days of July rose 53.9 percent from a year earlier to a record US$29.84 billion for the period. The previous high was $28.6 billion, set last month. Average daily exports, adjusted for working days, rose 53.9 percent to $ July 13, 2026

Homeplus set for bankruptcy filing as rehabilitation collapses SEOUL, July 13 (AJP) - Homeplus is expected to begin shutting stores this week and file for bankruptcy, moving into effective liquidation after a court ended its rehabilitation proceedings on July 3. With emergency operating funds all but out of reach and any chance of recovery fading, the focus has shifted to an orderly wind-down that limits harm to suppliers, employees and in-store tenants of South Korea's second-largest hypermarket chain. The retailer is weighing a phased July 13, 2026

Unionized workers at Hyundai Motor begin partial strike as wage talks stall SEOUL, July 13 (AJP) - Unionized workers at Hyundai Motor began a partial strike on Monday after wage negotiations with management broke down. The walkout marks the union's first strike this year and the second consecutive year it has gone on strike. Under the three-day strike plan, which runs through Wednesday with two-hour partial strikes each day, production staff on the morning shift will stop work two hours early at 1:30 p.m., while workers on the afternoon shift will also July 13, 2026

SK hynix's blockbuster ADR to bolster Korea's growth and the won SEOUL, July 12 (AJP) -Korean chipmakers are fastening investment to expand next-generation semiconductor facilities in South Korea under a government-led initiative to cement the country's leadership in the AI era, a drive that is expected not only to reinforce economic growth but also provide rare support for the stubbornly weak won through an influx of dollar earnings from booming chip exports and the proceeds of SK hynix's blockbuster Nasdaq stock offering. The investme July 12, 2026