Seoul aims for AI's top two, plans nationwide model this year SEOUL, July 16 (AJP) - South Korea's technology chief announced the country would push to break into the world's top two artificial-intelligence powers, buoyed by an international assessment ranking it third, and vowed to build a frontier model rivalling those Washington now guards as strategic weapons. Bae Kyung-hoon, Deputy Prime Minister and Minister of Science and ICT, told a presidential briefing on Thursday at the Cheong Wa Dae that a second round of model evaluations July 16, 2026

Korean Folk Village wins Red Dot award for improving visitor access to heritage SEOUL, July 16 (AJP) - Korean Folk Village, an open-air museum and cultural theme park on the outskirts of Seoul, has won this year's Red Dot Design Award for its mobile platform, it said on Thursday. Its platform was recognized for its digital services, which make exploring the heritage site more convenient and engaging for visitors. It received a Winner award in the Brands & Communication Design category for integrating various services into a single app including QR-co July 16, 2026

LG launches AI-enabled water purifier with voice controls SEOUL, July 16 (AJP) - LG Electronics on Thursday launched a new AI-powered water purifier featuring voice controls and personalized dispensing functions, expanding its lineup of connected home appliances as the company integrates artificial intelligence into everyday household products. The LG PuriCare AI Ice Water Purifier allows users to dispense purified water, cold water and ice using natural voice commands, while also serving as a smart home hub capable of controlling compa July 16, 2026

Trump again signals role for Korean shipbuilders in US naval buildup SEOUL, July 16 (AJP) - U.S. President Donald Trump has again raised the prospect of working with South Korean shipbuilders as Washington seeks to rapidly expand and modernize its aging naval fleet. Speaking Wednesday at the Pennsylvania Defense and Innovation Summit at the U.S. Army War College in Carlisle, Trump said his administration would consider South Korean and other foreign companies as part of its shipbuilding efforts. “We’re going to probably look at some of July 16, 2026

Red Velvet ready for full-group return with sold-out concerts SEOUL, July 16 (AJP) - K-pop girl group Red Velvet's upcoming concerts have all sold out, SM Entertainment said on Thursday. The now-five-member group, which originally debuted as a quartet, will hold three concerts from July 31 to Aug. 2 in Seoul. The group initially planned to hold shows only on Aug. 1 and 2, but both sold out during presales opened for their fans, prompting SM Entertainment to add another show on July 31 which also quickly sold out. The concerts will be th July 16, 2026

Defense chiefs from US, Japan, South Korea reaffirm trilateral cooperation i SEOUL, July 16 (AJP) - Top military officials from Japan, South Korea, and the U.S. met in the U.S. to discuss trilateral security cooperation, the Joint Chiefs of Staff (JCS) here said on Thursday. According to the JCS, its chairman Jin Young-seung who made his first U.S. trip since assuming his post in September last year, attended the 23rd annual Trilateral Chiefs of Defense (Tri-CHOD) meeting in Washington, D.C., the previous day, where he held discussions with his U.S July 16, 2026

KOSPI slips below 7,000 again as Morgan Stanley sparks chip sell-off SEOUL, July 16 (AJP) - South Korean stocks swung sharply lower shortly after the market opened on Thursday, giving up much of the previous session's explosive gains as investors cashed in on the rally following another overnight sell-off in U.S. semiconductor shares. Fresh concerns over artificial intelligence (AI)-related infrastructure spending, sparked by a cautious report from U.S. investment bank Morgan Stanley, added to the pressure on technology stocks. Investor sentiment July 16, 2026

BOK delivers its first hike since January 2023 SEOUL, July 16 (AJP) - As widely expected, the Bank of Korea (BOK) on Thursday bumped up its benchmark interest rate by 25 basis points to 2.75 percent for the first time in three and a half years to contain imported price pressure and feverish leveraged investment. A combination of factors shifted the central bank toward a tightening bias after it had kept the policy rate unchanged since cutting it to 2.50 percent in May last year. Consumer prices rose 3.2 percent from a year ea July 16, 2026

Na Hong-jin's sci-fi thriller off to good box-office start SEOUL, July 16 (AJP) - Director Na Hong-jin's return to the big screen got off to a strong start, as his sci-fi thriller "Hope" topped the South Korean box office, attracting more than 330,000 moviegoers on its opening day. According to ticket sales data released by the Korean Film Council on Thursday, "Hope" drew about 333,000 moviegoers the previous day, marking the strongest opening of any Korean film released this year. The impressive start surpassed d July 16, 2026

MBK, Meritz to inject 200 bln won lifeline into Homeplus SEOUL, July 16 (AJP) - Homeplus, the ailing South Korean supermarket chain teetering on the edge of liquidation, is poised to secure a last-minute rescue after its major shareholder and largest creditor tentatively agreed to provide 200 billion won ($134.5 million) in emergency operating funds. MBK Partners, the private equity firm that controls Homeplus, and Meritz Financial Group reached the provisional agreement on Wednesday, according to financial industry sources. The injection July 16, 2026