Korea must become an AI ecosystem power, not just chip power: CSIS SEOUL, July 28 (AJP) - South Korea risks squandering its AI-driven manufacturing advantage unless it evolves from one of the world's biggest exporters into an "ecosystem power" that shapes the technologies, standards and alliances underpinning the global artificial intelligence economy, a leading Washington think tank said. The assessment by the Center for Strategic and International Studies (CSIS) came under spotlight as President Lee Jae Myung seeks to reposition July 28, 2026

KOSPI leads broad Asian selloff with 8% tumble SEOUL, July 28 (AJP) - Korean stocks plunged Tuesday morning, with the benchmark KOSPI falling more than 8 percent to the 6,200 level, as a selloff in U.S. artificial intelligence chip stocks and concerns over China’s growing semiconductor capabilities battered major technology shares. Sell-side sidecars were triggered in both the KOSPI and KOSDAQ markets shortly after the opening bell, followed by a circuit breaker on the main market that halted trading for 20 minutes. July 28, 2026

Korea's tourist boom spreads beyond Seoul, Busan rises fast SEOUL, July 28 (AJP) -South Korea's tourism boom is increasingly spreading beyond Seoul, with foreign arrivals through regional airports growing more than twice as fast as those through the capital area as inbound visitors topped 10 million in the first half for the first time since the pandemic. According to the Ministry of Culture, Sports and Tourism on Tuesday, 1.99 million foreign travelers visited South Korea in June, up 23.1 percent from a year earlier, lifting first-half July 28, 2026

US Treasury overhauls sanctions list, removes outdated North Korean entity SEOUL, July 28 (AJP) - A North Korean firm linked to the country's nuclear and missile development programs was among those removed and consolidated as part of the U.S. Treasury Department's effort to modernize its sanctions lists, the department said on Monday. The department's Office of Foreign Assets Control (OFAC) said it "removed 84 individuals and entities and improved identifying information for 22 list entries to facilitate compliance." OFAC said i July 28, 2026

Defense Ministry to rule out nuclear weapons in submarine bill SEOUL, July 28 (AJP) - South Korea plans to include a nuclear weapons ban in its proposed law on nuclear-powered submarines, government sources said Tuesday. The Ministry of National Defense is expected to soon issue a legislative notice for a bill tentatively titled the Special Act on the Acquisition, Operation and Safety Management of Nuclear-Powered Submarines. The move would mark the first time South Korea has written into domestic law a principle rejecting nuclear weapons de July 28, 2026

BLACKPINK x Tamagotchi pop-up to open in Seoul SEOUL, July 28 (AJP) - A limited-edition BLACKPINK x Tamagotchi collection will go on sale at a weeklong pop-up store in Seoul, giving fans in South Korea their first opportunity to purchase the collaboration in person, Lotte Department Store said Tuesday. The pop-up will run from Thursday to Aug. 5 at Lotte World Mall in Jamsil, southeastern Seoul. Lotte said it will exclusively host the collaboration's retail pop-up in South Korea. The collection features limited-e July 28, 2026

China's new chip power triggers Korean selloff, sparks 21st sidecar SEOUL, July 28 (AJP) - South Korean stocks plunged Tuesday, triggering the market's 21st sidecar of the month after a fresh rout in U.S. semiconductor shares combined with growing investor bets on China's emerging memory-chip champion to spark another wave of foreign selling. The Korea Exchange activated a sidecar — a five-minute suspension of program trading designed to cool excessive volatility — shortly after the open as benchmark indices tumbled more than 5 July 28, 2026

South Korea, Brazil agree to expand cooperation across sectors SEOUL, July 28 (AJP) - President Lee Jae Myung had a summit with Brazilian President Luiz Inácio Lula da Silva in Brasília on Monday, where they agreed to deepen cooperation in defense, aerospace, critical minerals and other strategic industries. Lee's trip to Brazil, which followed Lula's state visit to Seoul in February, marked the first state visit by a South Korean president to Brazil in 11 years. In a joint statement after their summit which lasted July 28, 2026

Korea's consumer confidence upbeat, home price outlook hits 5-year high SEOUL, July 28 (AJP) -South Korean consumer confidence remained comfortably above its long-term average in July, as a chip-fueled economic recovery and rising income expectations outweighed inflation concerns, while expectations for home prices climbed to their highest level in nearly five years despite tighter monetary policy. The Bank of Korea's Composite Consumer Sentiment Index (CCSI) edged up to 106.8 in July from 106.6 in June, extending gains for a third straight month a July 28, 2026

Naver sells $1 billion stake to Nvidia to fund $10 billion AI factory SEOUL, July 27 (AJP) — Naver said Monday it will sell $1 billion of new shares to Nvidia in a rare third-party capital increase, turning the AI chipmaker into one of the largest shareholders of South Korea's top platform operator as the partners push ahead with a $10 billion AI factory project announced in San Francisco. The Korean internet giant will issue 7.24 million new common shares at 204,500 won each, raising an estimated 1.48 trillion won ($1 billion) through it July 28, 2026