Seoul's last shantytown takes first step towards redevelopment SEOUL, July 22 (AJP) - The planned transformation of Guryong Village, widely known as Seoul’s last remaining shantytown, moved a step closer after the city conditionally approved plans to build 2,120 public housing units in two core sections of the settlement. The Seoul Metropolitan Government said Wednesday that its Public Housing Integrated Review Committee, conditionally approved construction plans for the M and B2 blocks within Guryong Village in Gangnam District. The July 22, 2026

SK hynix bonus pact faces early test as labor talks intensify SEOUL, July 22 (AJP) - A decade-long profit-sharing pact at SK hynix has returned to the negotiating table just one year after it was signed, as unions push back against a proposed overhaul that could require employees to receive part of their bonuses in company shares. The chipmaker’s production and office-worker unions held separate intensive bargaining sessions with management on Tuesday after the two sides failed to narrow differences over bonuses and other key issues d July 22, 2026

KOSDAQ gains new life from robotics jolt SEOUL, July 22 (AJP) - Robotics stocks jolted the lethargic KOSDAQ market awake on Wednesday as investors bet that Samsung Electronics’ newly elevated robotics ambitions, military demand and Nvidia’s physical AI vision could turn South Korea’s equipment supply chain into the next major technology theme. Industrial robotics and automation company T-Robotics hit the daily ceiling, surging 29.95 percent to 12,540 won and leading gains on the secondary market. The m July 22, 2026

Korea trade chief heads to Washington as U.S. global tariff nears expiry SEOUL, July 22 (AJP) - South Korea’s Industry Minister Kim Jung-kwan left for Washington on Wednesday to defend Seoul’s tariff deal and advance a $350 billion investment package as the legal authority for the United States’ temporary global duties expires on Friday. Kim will stay in Washington through Saturday for talks with U.S. Commerce Secretary Howard Lutnick and other senior administration and congressional officials on strategic investment and outstanding t July 22, 2026

Korean stocks lead Asia as chip rally sends KOSPI above 7,000 SEOUL, July 22 (AJP) - Korean stocks led Asian markets by a wide margin Wednesday morning, driven by heavy foreign buying in semiconductor shares after a sharp overnight rally in U.S. chipmakers revived expectations for continued artificial intelligence infrastructure investment. The benchmark KOSPI was trading 5.6 percent higher at 7,125.8 as of 10:30 a.m., outperforming Japan's Nikkei 225, which gained 1.9 percent to 67,512.1. China's Shanghai Composite and Hong Kong July 22, 2026

Samsung bets on foldables — and fashion — at Galaxy Unpacked SEOUL, July 22 (AJP) - Samsung Electronics is set to widen its foldable smartphone lineup and make its long-awaited entry into the AI smart glasses market on Wednesday (KST), betting that premium hardware, artificial intelligence and fashion-forward wearables can help it challenge Meta in the next phase of consumer AI. At its Galaxy Unpacked event in London, Samsung is expected to unveil the Galaxy Z Fold 8, Z Fold 8 Ultra and Z Flip 8, alongside its first Android XR-powered smart July 22, 2026

KAIST germanium system switches oxygen reaction pathways SEOUL, July 22 (AJP) - A new molecular system developed in South Korea can be instructed how many electrons to hand over to oxygen, a switch that decides whether a reaction ends in water or hydrogen peroxide and that sits at the center of fuel cell performance, battery chemistry and cleaner industrial manufacturing. Until now, that kind of control has belonged almost entirely to transition metals such as iron, cobalt and nickel. Fuel cells depend on the four-electron route, which July 22, 2026

South Korean coming-of-age drama to compete at Toronto film fest this fall SEOUL, July 22 (AJP) - Director Yoon Dan-bi's "The World Before" will vie for an award at this fall's Toronto International Film Festival (TIFF), the film's distributor at9 film said on Wednesday. Her second feature film will compete with 11 other films in the festival's Platform section and have its world premiere at the 51st edition of TIFF, which kicks off its 10-day run on Sept. 10. The festival's only competitive section spotlights "exc July 22, 2026

Samsung, SK, Naver chiefs set for rare AI summit with Nvidia's Huang SEOUL, July 22 (AJP) - Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won and Naver founder Lee Hae-jin are expected to meet Nvidia Chief Executive Jensen Huang in Silicon Valley this week, in what could become one of the highest-profile gatherings of global artificial intelligence leaders amid sustained investment in AI infrastructure. The roundtable, expected to take place on Friday, would also likely include OpenAI CEO Sam Altman and Anthropic CEO Dario Amo July 22, 2026

Netflix's 'The East Palace' debuts at No. 2 on global non-English TV chart SEOUL, July 22 (AJP) - Netflix's Korean fantasy mystery series The East Palace debuted at No. 2 on the streamer's global Top 10 list for non-English television after drawing 4.9 million views in its first three days, marking a strong international start for Nam Joo-hyuk's first series since completing military service. Released on July 17, the eight-episode series also topped Netflix's daily rankings in South Korea and entered the Top 10 in 27 markets, including Ho July 22, 2026