Trump reimposes Iran blockade, seeks 20% fee on cargo through Strait of Hormuz SEOUL, July 14 (AJP) - Amid renewed tensions with Iran in the Middle East, U.S. President Donald Trump said Monday that the U.S. will charge a 20-percent fee on cargo passing through the Strait of Hormuz as it takes on the role of the waterway's "guardian." In a post on his own social media platform Truth Social, Trump wrote, "The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating THE IRANIAN BLOCKADE, so named because it is only July 14, 2026

KOSPI extends chip rout as Samsung Electronics steadies SEOUL, July 14 (AJP) -The bear loomed over the Seoul bourse for a second straight session Tuesday after a devastating Black Monday rout. The KOSPI stood at 6,790.55 shortly after the open, down 0.2 percent. The index shed 16.38 points from Monday's close, recovering from a drop of nearly 2 percent in the first minutes of trade. The two chipmakers that drove Monday's plunge split at Tuesday's open. SK hynix fell another 1.7 percent to 1,813,000 won ($1,211), while July 14, 2026

Seoul sends presidential chief to Qatar for emir's funeral SEOUL, July 14 (AJP) -President Lee Jae Myung on Tueday sent a message of condolence following the death of former Qatari Emir Sheikh Hamad bin Khalifa Al Thani and dispatched his chief of staff, Kang Hoon-sik, as a special envoy to attend the funeral. According to the presidential office, Kang departed for Doha Tuesday to personally deliver Lee's condolences on behalf of the South Korean government and is scheduled to return on Thursday. Seoul typically sends cabinet minis July 14, 2026

The world is scorching and Korea's climate envoy sees opportunity in crisis SEOUL, July 13 (AJP) - South Korea issued its first top-tier heat warning Sunday as temperatures neared 39 degrees Celsius in the southeastern cities of Pohang and Gyeongsan, joining countries across Europe and North America confronting summers that are becoming longer, hotter and increasingly dangerous. The Korea Meteorological Administration activated the newly created Heat Wave Emergency Warning after apparent temperatures were forecast to exceed 38 degrees following days above July 14, 2026

Seoul bourse enters a technical bear phase SEOUL, July 14 (AJP) -South Korean stocks has entered a technical bear market on Tuesday after the benchmark KOSPI fell nearly 30 percent from its June peak above the 9,000 mark, as a brutal selloff in semiconductor shares deepened on renewed concerns that the artificial intelligence boom may be nearing an earnings peak. The benchmark KOSPI plunged 8.95 percent to close at 6,806.93, its lowest level in 48 trading sessions and the fourth-largest one-day point decline on record. The July 14, 2026

Financial watchdog urges asset managers to improve transparency SEOUL, July 13 (AJP) - Financial watchdog Financial Supervisory Service (FSS) on Monday urged asset managers to improve disclosure practices by providing clearer information on voting rights and strengthening internal controls. It also called for an end to misleading or exaggerated advertisements for exchange-traded fund (ETF) to better protect investors. In a meeting with the head of the Korea Financial Investment Association and CEOs of 20 asset management firms, FSS chief Lee Cha July 13, 2026

TWICE's sold-out Seoul finale concludes yearlong world tour SEOUL, July 13 (AJP) - K-pop girl group TWICE wrapped up their sixth world tour with three sold-out concerts at KSPO Dome in southern Seoul over the weekend, JYP Entertainment said on Monday. The yearlong tour covered 81 shows across 44 locations around the world, marking one of the group's largest global concert tours so far. The "THIS IS FOR" tour began at Inspire Arena in Incheon in July 2025 before traveling across Asia, Oceania, North America and Europe. Alo July 13, 2026

Mega chip cluster project in Gwangju hits stumbling block over Air Force training SEOUL, July 13 (AJP) - South Korea's plan to transform a military air base in Gwangju into a major semiconductor cluster is facing another stumbling block, as concerns grow over whether the Air Force can relocate pilot training operations without disrupting combat readiness. The fresh concerns emerged after the government last week handpicked the roughly 8.3 million-square-meter military airport in the southwestern region as the location for the cluster, despite some opposition July 13, 2026

KOSPI suffers worst session in months as chip stocks tank SEOUL, July 13 (AJP) - South Korea's benchmark KOSPI suffered one of its worst sessions on record Monday as the unwinding of the semiconductor trade that fueled this year's rally turned into panic selling, sending the index below 7,000 points for the first time in more than two months. The index shed 669.01 points or 8.95 percent to close at 6,806.93. The crash, which forced the Korea Exchange to halt trading for 20 minutes, was driven by the same two stocks that had fuel July 13, 2026

Patriotic retail investors on buying spree to rescue beloved brands from delisting SEOUL, July 13 (AJP) - In a market usually driven by earnings, valuations and future prospects, some South Korean retail investors are making room for something more sentimental: trying to save the companies they grew up with. From a beloved penmaker to a well-known seafood brand, individual investors have rushed to buy shares of struggling companies facing possible delisting. Their buying spree has sent stock prices sharply higher as they try to save familiar brands from disappeari July 13, 2026