Britain's defense push adds new variable to Canada submarine equation SEOUL, July 01 (AJP) - Britain's latest defense spending plan has added a new variable to Canada's multibillion-dollar submarine equation, strengthening South Korea's industrial partnership with London as Seoul and Germany compete for one of Ottawa's biggest military contracts. The British government on Tuesday unveiled an additional 15 billion pounds ($20 billion) in military spending, focusing on drones, autonomous systems, next-generation fighter aircraft and othe July 1, 2026

Military academy alumni groups to stage first joint protest against merger plan SEOUL, July 01 (AJP) - Alumni associations representing South Korea’s Army, Navy and Air Force academies will stage their first joint action next week against the government’s plan to integrate the three military schools. The associations are scheduled to hold a rally outside the National Assembly on July 8, according to parliamentary and alumni group officials Wednesday. The event is expected to be jointly hosted by the three alumni associations, security groups and July 1, 2026

South Korea denies reports of order to scrap chipmakers' bonus schemes SEOUL, July 01 (AJP) - South Korea's labor and industry ministries on Wednesday denied online reports claiming the government had instructed Samsung Electronics and SK hynix to scrap existing employee bonus agreements as part of a proposed semiconductor profit-sharing scheme. The Ministry of Employment and Labor described the reports as "completely groundless" and said it had never sent an official document to either company regarding changes to their performance-bas July 1, 2026

Korea's startup contest turns dream into data leak nightmare SEOUL, July 01 (AJP) - Government startup competitions usually demand polished business plans, lengthy resumes and years of preparation. This one asked for none of that. Ideas were enough. Anyone with an entrepreneurial dream was welcome. That openness was exactly what caught the attention of 23-year-old Choi Yeon-ju when she spotted a recruitment notice on Everytime, the campus community app popular among South Korean university students. She signed up hoping to turn her idea July 1, 2026

Seoul weighs joint military academy admissions from 2028 SEOUL, July 01 (AJP) - South Korea is considering jointly selecting cadets for its Army, Navy and Air Force academies as early as the 2028 academic year, a move that could affect students currently in their second year of high school. The proposal signals that the government is accelerating plans to integrate the three service academies, but concerns are growing that the timetable could confuse applicants and run counter to the principle that major changes to university admissions s July 1, 2026

CJ CheilJedang overhauls business structure into three divisions SEOUL, July 01 (AJP) - CJ CheilJedang, South Korea's largest food company, announced it will restructure its operations into three divisions, scrapping its long-standing split between food and bio in a sweeping bid to sharpen competitiveness and quicken future growth. The overhaul replaces the company's two-pronged structure with three units: lifestyle food, technology materials and core materials. The firm said Wednesday it would move decisively to wind down low-margin, low July 1, 2026

South Korea's Lee vows to oversee Yongin, southwest chip projects SEOUL, July 01 (AJP) - South Korean President Lee Jae Myung said on Tuesday he would personally oversee the simultaneous development of the country's Yongin and proposed southwest semiconductor clusters, pledging government support to ensure the projects proceed without delay. Speaking at a public briefing on the southwest advanced industry development vision in Gwangju, Lee said the government would take direct responsibility for advancing the projects as part of its recently July 1, 2026

Samsung, SK hynix unveil combined 825 tln won investment plans for southwest Korea SEOUL, June 30 (AJP) - Samsung Group and SK hynix on Tuesday announced plans to invest a combined 825 trillion won ($595 billion) in southwest Korea, outlining new semiconductor manufacturing, artificial intelligence data center and energy projects as part of the government's regional industrial development initiative. The announcements were made during the government's "Southwestern Advanced Industry Development Vision" event held in Gwangju. Samsung said it June 30, 2026

Canada submarine race turns winner-take-all as final decision nears SEOUL, June 30 (AJP) - Canada's multibillion-dollar submarine competition is increasingly shaping into a winner-take-all contest after the country's defense minister publicly highlighted the financial and operational drawbacks of operating two different submarine fleets. The remarks weaken speculation that Ottawa could split its planned order of up to 12 submarines between South Korea's Hanwha Ocean and Germany's Thyssenkrupp Marine Systems (TKMS) as a political comp June 30, 2026

Samsung Elec Q2 to raise the bar on blockbuster earnings SEOUL, June 30 (AJP) - Samsung Electronics is widely expected to deliver another blockbuster quarter when it issues preliminary second-quarter earnings guidance next week, reflecting a 60 to 70 percent surge in mass-market memory prices and explosive demand for lucrative high-bandwidth memory (HBM) chips used in artificial intelligence. According to market consensus compiled by FnGuide, Samsung is projected to post second-quarter revenue of 166.76 trillion won ($120.3 billion) and June 30, 2026