Samsung, SK hynix target Chungcheong as AI supply chain hub SEOUL, July 02 (AJP) -Chip giants Samsung Group and SK hynix on Thursday unveiled a combined 240 trillion won ($173 billion) investment plan for South Korea's Chungcheong region to position the location just south of the capital area as the epicenter for the supply chain underpinning the country's industrial shift toward artificial intelligence. The announcements were made during the government's "Chungcheong Advanced Industry Development Vision" event at Sa July 2, 2026

SK bets Korea's next export miracle will be AI tokens SEOUL, July 02 (AJP) -Exports have powered South Korea's economy for the past six decades, with chips fueling the country's record export heyday. But over the next 60 years, the country's most valuable export may not be chips, but AI tokens that power AI factories, according to the AI chief of SK Group. "Korea must evolve from a chip exporter to an AI token exporter. That is the most realistic path toward becoming one of the world's top three AI nations," J July 2, 2026

Celltrion Pharm to invest 2 trillion won in new PFS plan SEOUL, July 02 (AJP) - Celltrion Pharm announced it will invest about 2 trillion won ($1.28 billion) to build a new prefilled syringe (PFS) production plant in North Chungcheong Province, expanding its biopharmaceutical manufacturing footprint beyond its existing Cheongju and Jincheon facilities. The company's chief executive, Yoo Young-ho, unveiled the plan Thursday at a government-hosted investment forum in Asan, South Chungcheong Province, themed around advanced industry grow July 2, 2026

Hanwha Ocean named KDDX preferred bidder, contract due in August SEOUL, July 02 (AJP) - Hanwha Ocean has been selected as the preferred bidder for the design and construction of the lead vessel in South Korea’s next-generation destroyer program, the company said Thursday. The shipbuilder said in a regulatory filing that the Defense Acquisition Program Administration (DAPA) had formally selected it as the top-priority bidder for the Korean Destroyer Next Generation (KDDX) project. The value and duration of the contract will be determined July 2, 2026

South Korea's drug exports top $10 billion for first time in 2025 SEOUL, July 02 (AJP) - South Korea's pharmaceutical exports surpassed $10 billion for the first time last year, reaching a record high, the Ministry of Food and Drug Safety said. Exports rose 12.4 percent to $10.44 billion, while imports climbed 5.9 percent to $8.93 billion. The trade surplus in medicines jumped 41.9 percent to $1.51 billion, also a record. Domestic drug production grew 3.0 percent to 33.85 trillion won ($21.77 billion), the highest since record-keeping began July 2, 2026

US House report accuses South Korea of discrimination against Coupang SEOUL, July 2 (AJP) - A U.S. House committee has again accused the South Korean government of discriminatory treatment against e-commerce giant Coupang and other American companies, alleging that the country's regulatory actions may violate a bilateral trade deal reached last fall. In a 35-page report released Wednesday following similar remarks in February this year, the House Judiciary Committee said, "South Korea has a long history of engaging in economic discrimination July 2, 2026

SK AX, KEPCO E&C to drive AI innovation in power sector SEOUL, July 02 (AJP) - SK AX said it has signed a memorandum of understanding with KEPCO Engineering & Construction to jointly pursue artificial intelligence innovation across the power generation and energy sectors. The firm announced Thursday its agreement was signed at SK U-Tower in Seongnam, Gyeonggi Province, with SK AX Chief Executive Kim Wan-jong and KEPCO E&C Chief Executive Kim Tae-kyun attending alongside executives from both companies. The two firms plan to app July 2, 2026

Automakers recall more than 146,000 vehicles over safety and software defects SEOUL, July 2 (AJP) - More than 146,000 domestic and imported vehicles are being recalled in South Korea after defects were found, the Ministry of Land, Infrastructure and Transport said on Thursday. The recalls cover 38 models, totaling 146,505 vehicles, from six automakers - BYD, Hyundai Motor, Jaguar Land Rover, Mercedes-Benz, Stellantis and Volvo. Volvo's recall was the largest, covering 55,405 vehicles across seven models including the XC60 due to a faulty 48-volt ge July 2, 2026

Kia posts record first-half sales as EV demand surges SEOUL, July 1 (AJP) - Kia, an affiliate of Hyundai Motor Group, sold 1.63 million vehicles in cumulative sales for the first six months of this year at home and abroad. According to the automaker, it was the highest-ever first-half figure since Kia began selling vehicles in 1962. In June alone, it sold 295,720 vehicles worldwide, up 9.5 percent from a year earlier including 54,508 at home and 240,259 overseas. It also sold about 953 special-purpose vehicles, including 473 in the July 1, 2026

SK hynix details upcoming U.S. listing, adds antitrust suit risk in SEC filing SEOUL, July 01 (AJP) - South Korean memory chipmaker SK hynix has amended its registration statement for a planned U.S. Nasdaq listing, detailing a fresh legal challenge while leaving its core offering terms blank, a U.S. regulatory filing showed. According to its amended Form F-1/A filed with the U.S. Securities and Exchange Commission (SEC) on Wednesday, the company added a newly initiated antitrust class action to its "Risk Factors." The lawsuit, filed on June 25 i July 1, 2026