BOK dismisses peak concerns over chip cycle as AI demand still outpaces supply SEOUL, July 13 (AJP) - The Bank of Korea has dismissed concerns that the global semiconductor cycle has already peaked, saying investment in artificial intelligence (AI) infrastructure is driving demand faster than manufacturers can expand supply. According to a report submitted to People Power Party (PPP) lawmaker Park Seong-hoon and released on Monday, the Bank of Korea (BOK) said the current semiconductor upcycle differs from previous ones because it is being driven by intense in July 13, 2026

Strong chip demand keeps early July exports at another record high SEOUL, July 13 (AJP) - South Korea's exports in early July reached a record high for the period, as semiconductor exports nearly tripled from a year earlier. According to data released by the Korea Customs Service (KCS) on Monday, exports in the first 10 days of July rose 53.9 percent from a year earlier to a record US$29.84 billion for the period. The previous high was $28.6 billion, set last month. Average daily exports, adjusted for working days, rose 53.9 percent to $ July 13, 2026

KAIST clears power-wasting bottleneck in chips SEOUL, July 13 (AJP) - South Korean researchers have found a way to remove one of the biggest hidden bottlenecks inside computer chips, a discovery that could make future artificial intelligence processors faster and far less power-hungry. Every chip loses energy at the point where metal wiring meets the semiconductor material that does the actual computing. This so-called contact resistance works like a tollgate on a highway: electricity slows down, heat builds up, and power is w July 13, 2026

Missing Navy sailor found dead in East Sea after search near NLL SEOUL, July 13 (AJP) - A Navy sailor who went missing from a frigate on patrol near the Northern Limit Line in the East Sea was found dead Monday after a search lasting more than 21 hours, the Navy said. The Navy said the sailor’s body was found at 5:58 a.m. in waters about 52 kilometers east of Geojin-eup in Goseong County, Gangwon Province. The sailor, a private first class, had been serving aboard a Navy frigate on patrol about 50 kilometers east of Geojin-eup when he wa July 13, 2026

KOSPI opens higher despite SK hynix's retreat after record-setting Nasdaq debut SEOUL, July 13 (AJP) - South Korean shares opened higher on Monday as gains in Samsung Electronics and battery and defense stocks offset a decline in SK hynix, whose shares retreated after its record-setting Nasdaq debut last Friday. The benchmark KOSPI added 14.24 points or 0.2 percent, to 7,490.18 in early trade. SK hynix fell 3.1 percent to 2,113,000 won (US$1,408.10), giving back part of the run-up into its American depositary receipt (ADR) listing, which raised $26.5 billion July 13, 2026

Homeplus set for bankruptcy filing as rehabilitation collapses SEOUL, July 13 (AJP) - Homeplus is expected to begin shutting stores this week and file for bankruptcy, moving into effective liquidation after a court ended its rehabilitation proceedings on July 3. With emergency operating funds all but out of reach and any chance of recovery fading, the focus has shifted to an orderly wind-down that limits harm to suppliers, employees and in-store tenants of South Korea's second-largest hypermarket chain. The retailer is weighing a phased July 13, 2026

Unionized workers at Hyundai Motor begin partial strike as wage talks stall SEOUL, July 13 (AJP) - Unionized workers at Hyundai Motor began a partial strike on Monday after wage negotiations with management broke down. The walkout marks the union's first strike this year and the second consecutive year it has gone on strike. Under the three-day strike plan, which runs through Wednesday with two-hour partial strikes each day, production staff on the morning shift will stop work two hours early at 1:30 p.m., while workers on the afternoon shift will also July 13, 2026

SK hynix ETF frenzy heads to Wall Street after record ADR debut SEOUL, July 13 (AJP) -A wave of leveraged exchange-traded funds tied to SK hynix's newly listed American depositary receipts is set to hit Wall Street this week, extending the AI chipmaker's explosive rise from South Korea's stock market to the world's largest financial market and raising fresh concerns that the trading frenzy which reshaped Seoul could spread to New York. At least six ETF products from U.S. issuers including Leverage Shares, ProShares, GraniteShar July 13, 2026

South Korea joins the world's new era of extreme summer SEOUL, July 12 (AJP) — South Korea has officially entered what meteorologists increasingly describe as the era of extreme summer, with authorities activating the country's highest-ever heat alert for the first time as scorching temperatures spread well beyond their traditional hotspots. The Korea Meteorological Administration on Sunday issued its inaugural Heat Wave Emergency Warning for Pohang and Gyeongsan after apparent temperatures were forecast to exceed 38 degre July 12, 2026

Korean navy searches for missing sailor near NLL in East Sea SEOUL, July 12 (AJP) -South Korea's Navy is searching for a missing sailor who disappeared while serving aboard a frigate conducting a patrol mission near the Northern Limit Line (NLL) in the East Sea, military officials said Sunday. The missing sailor, a private first class, was reported missing after failing to report for duty at around 8 a.m., according to the Navy. He was last seen between midnight and 2 a.m. by a watchstander conducting an internal security patrol thro July 12, 2026