Tesla dominates imported car market as monthly sales surpass 10,000 vehicles SEOUL, August 5 (AJP) - Sales of imported cars in South Korea exceeded 30,000 units again last month, with Tesla taking the top spot after its monthly sales surpassed 10,000 vehicles, according to data released on Wednesday by the Korea Automobile Importers & Distributors Association. The number of newly registered imported passenger cars totaled 30,976 in July, up 14.3 percent from a year earlier but down 18.6 percent from 38,059 in the previous month, with the association at August 5, 2026

Korea eyes July 2027 start for Honam chip cluster utilities SEOUL, August 05 (AJP) - South Korea aims to break ground in July 2027 on the electricity and water supply facilities that will underpin its planned semiconductor cluster in the Honam region, the government said, as the timeline for the flagship project takes firmer shape. The government intends to select a project operator and formally designate the cluster site — a stretch of land around the Gwangju military airfield — before the end of this year, officials said Wednes August 5, 2026

Samsung and SK hynix CEOs face criminal complains over bonus SEOUL, August 05 (AJP) -The chief executives of South Korea's two dominant memory chipmakers are facing criminal complaints after a shareholder activist group accused them of breaching their fiduciary duties by agreeing to AI-era performance bonus schemes that could pay chip-related workers hundreds of millions of won. The Gyeonggi Nambu Provincial Police Agency has assigned the complaints against Samsung Electronics co-CEOs Jun Young-hyun and Roh Tae-moon, and SK hynix Chief E August 5, 2026

Stray Kids to return with new EP 'THIS & THAT' SEOUL, August 05 (AJP) - K-pop boy group Stray Kids will release their new EP "THIS & THAT" on Aug. 7, an album meant to showcase the group's range, and the confidence that comes with it, JYP Entertainment said Wednesday. The eight-track EP, led by the title track "This & That," will be released at 1 p.m. KST, or midnight Eastern time in the United States. The release follows Stray Kids' SKZ IT TAPE "DO IT," which made the group t August 5, 2026

KISS OF LIFE teams up with I'm donut? for sweet collabo SEOUL, August 05 (AJP) - K-pop girl group KISS OF LIFE, known for the powerful music and performances that have taken past releases to No. 1 on Thailand's iTunes chart, has teamed up with doughnut brand I'm donut? for a limited collaboration tied to its new single album, "SWEAT." For the project, I'm donut? created four doughnuts and three merchandise items built around the album's desert-inspired concept, using images of blazing sun, sand, heat haze an August 5, 2026

White House asks Congress to grant overseas building of Navy ships SEOUL, August 05 (AJP) - The White House has asked Congress to authorize the U.S. Navy to order two surface combatants and two noncombat auxiliary ships from overseas shipyards, a proposal that could create opportunities for major shipbuilders in South Korea and Japan. The request was included in the administration’s July 21 policy statement on the House version of the fiscal 2027 National Defense Authorization Act. The White House Office of Management and Budget objected t August 5, 2026

Hyundai Motor Group appoints former US official to head Washington office SEOUL, August 5 (AJP) - Hyundai Motor Group has appointed a former U.S. State Department official as head of its Washington, D.C. office, the automaker said on Wednesday. Michael Kleine is expected to bring more than 25 years of diplomatic experience, having held senior positions at the U.S. Department of State and key posts across the Asia-Pacific region. He previously served as U.S. chargé d'affaires to Indonesia and as minister-counselor for economic affairs at the U.S August 5, 2026

Kookmin University wins 9-year Seoul AI mobility grant SEOUL, August 05 (AJP) - Seoul will bankroll a Kookmin University plan to knit self-driving cars, delivery robots and air taxis into a single artificial intelligence system for the capital, committing up to 8 billion won, about $5.6 million at current exchange rates, over as long as nine years. Kookmin University said Tuesday that its Automotive Convergence College had been selected for the Seoul Anchor 10 Challenge, one of the funding tracks in the city's 2026 regional talent August 5, 2026

Kakao Games trims losses, eyes recovery with new lineup SEOUL, August 05 (AJP) — Shares of South Korean game developer Kakao Games fell Wednesday morning trading after the company reported lower second-quarter revenue, although its operating loss narrowed from the previous quarter. According to a filing with the Financial Supervisory Service (FSS) Wednesday, the company posted revenue of 75.0 billion won ($54 million), down 35.2 percent from a year earlier, while its operating loss narrowed to 23.0 billion won from 25.5 billion won August 5, 2026

Chip rebound lifts KOSPI and Nikkei more than 3% SEOUL, August 05 (AJP) - A 6-percent overnight surge in U.S. semiconductor shares and a looming index-weighting change at SK hynix drove the KOSPI, the main board of the Korea Exchange, up 3.8 percent on Wednesday, with Tokyo running the same trade. The main index in Seoul rose 240.20 points to 6,599.15 in the opening minutes. The specific catalyst is SK hynix's own share count. The company issued 17.79 million new shares in a 45.45 trillion won third-party allotment to Citi August 5, 2026