Woojin Industrial Systems launches development of 420 km low-floor electric coach SEOUL, June 25 (AJP) - Woojin Industrial Systems, a South Korean maker of rail vehicles and electric buses, said it had begun work on a 10.1 billion won ($6.54 million) state-funded project to develop an eco-friendly low-floor electric coach designed for passengers with reduced mobility. The project, announced Thursday by Woojin, draws support from a national research and development scheme run by the Ministry of Trade, Industry and Resources, the Korea Institute for Advancement of June 25, 2026

Micron's blowout Q3 and contracts harbinger for extended memory heyday * Updated with additional information SEOUL, June 25 (AJP) - Micron Technology Inc. delivered a stunning 74 percent revenue jump for the quarter ended May and projected the AI-driven memory boom to extend well into 2027, setting the stage for another stretch of red-hot earnings for its larger South Korean peers in the memory market powering the AI age from datacenters to smart devices. The U.S. chipmaker posted fiscal third-quarter revenue of $41.46 billion, a 74 percent jump f June 25, 2026

SK hynix takes fight with Samsung to Wall Street via $33 billion ADR issue *Updated with additional information SEOUL, June 24 (AJP) -SK hynix is launching a roughly $33 billion public offering tied to a Nasdaq listing of American Depositary Receipts (ADRs), a move that could globalize its shareholder base and intensify its competition with home rival Samsung Electronics beyond memory chips and into the battle for global capital. In a regulatory filing after the Seoul market closed Wednesday, the company said its board approved a plan to list ADRs on t June 24, 2026

Korea readies customs support for Hyundai's Saemangeum AI robot hub SEOUL, June 24 (AJP) - South Korea is moving to strengthen customs support for Saemangeum as Hyundai Motor Group's planned 9 trillion won ($6.5 billion) investment in artificial intelligence, robotics and clean energy begins to take shape in the reclaimed industrial zone on the country's west coast. Korea Customs Service Commissioner Lee Jong-wook visited the Saemangeum Development Agency in Gunsan on Wednesday and met agency chief Moon Seong-yo to discuss customs measures June 24, 2026

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