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  Korean defense industry posts record quarter amid export boom to Europe, Middle East SEOUL, July 10 (AJP) - South Korea’s defense industry continued its unprecedented growth trajectory in the second quarter, buoyed by sustained international demand for weapons systems and armored vehicles. The nation’s four leading defense contractors — Hanwha Aerospace, Hyundai Rotem, LIG Nex1, and Korea Aerospace Industries (KAI) — are projected to report a combined operating profit exceeding 1 trillion won for the first time, according to financial estim July 10, 2025
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  Samsung C&T's 8 Seconds opens first Philippine store, expanding K-fashion reach in Southeast Asia SEOUL, July 10 (AJP) - Samsung C&T’s casual fashion brand 8 Seconds made its official debut in Southeast Asia this week, opening its first store in the Philippines through a partnership with local retail powerhouse Suyen Corporation. The 420-square-meter flagship, located on the second floor of SM Mall of Asia in Manila, launched Wednesday with a grand opening event. Founded in 2012, 8 Seconds is positioned as a trend-driven, accessible fashion label aimed at younger July 10, 2025
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  Shim Eun-kyung's latest Japanese film invited to compete at Locarno Film Festival SEOUL, July 10 (AJP) - Actress Shim Eun-kyung's latest film has been invited to the upcoming Locarno Film Festival, which opens next month in Switzerland, the film's distributor said Thursday. Based on a Japanese manga by Yoshiharu Tsuge, "Tabi to Hibi" or "Two Seasons, Two Strangers" tells the story of a scriptwriter whose journey leads her to an unexpected encounter with the owner of a remote countryside inn. Directed by Japanese filmmaker Sho Miyake July 10, 2025
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  Samsung unveils slimmest foldable yet with Galaxy Z Fold7 SEOUL, July 10 (AJP) - Samsung Electronics has introduced its latest flagship foldable, the Galaxy Z Fold7, touting it as the slimmest and lightest model in its Z Fold series to date. Unveiled at the company’s Galaxy Unpacked 2025 event in Brooklyn, the Fold7 represents a significant leap in both design and functionality as the firm continues to bet big on foldables and artificial intelligence. The new device measures just 8.9 millimeters thick when folded and 4.2 millime July 10, 2025
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  Bank of Korea halts rate cuts amid soaring housing prices SEOUL, July 10 (AJP) - The Bank of Korea left its benchmark interest rate unchanged at 2.5 percent on Thursday, pausing its monetary easing cycle as policymakers contend with a surge in housing prices and rapidly rising household debt. The decision underscores mounting concern within the central bank over asset bubbles forming in the capital region. In recent weeks, apartment prices in Seoul have accelerated at their fastest pace in nearly seven years. “Stabilizing market s July 10, 2025
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  PHOTOS: Record heat grips South Korea SEOUL, July 10 (AJP) - A relentless, record-breaking heat wave is scorching South Korea. Temperatures in Seoul climbed to an unprecedented 37.8 degrees Celsius on Tuesday, the highest ever recorded for early July. The intense heat has sent a dramatic surge of patients to emergency rooms across the country. According to the Korea Disease Control and Prevention Agency, 238 individuals sought emergency medical attention for heat-related illnesses on Monday alone. This brings the t July 10, 2025
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  Rare Chinese relics unveiled at Daboseong Gallery appraisal session with top experts SEOUL, July 10 (AJP) - Daboseong Gallery in South Korea has once again opened its doors to reveal a selection of Chinese antiquities rarely seen by the public, even in China itself. For the third year running, the gallery invited top Chinese appraisal experts to assess items from its vast collection, believed to be one of the most extensive private holdings of rare Chinese artifacts in Asia. The appraisal session, held on July 9, was led by Professor Lee Jung-soon of Chung-Ang U July 10, 2025
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  Probe into martial law debacle gains steam with ex-President's rearrest SEOUL, July 10 (AJP) - Independent prosecutors are expected to speed up and intensify their probe into disgraced former President Yoon Suk Yeol's martial law debacle after an arrest warrant for him was issued in the small hours of Thursday. The Seoul Central District Court issued the warrant, citing concerns that Yoon could destroy evidence, leading to his immediate detention once again in a remand prison in Uiwang, Gyeonggi Province. His rearrest came about four months after July 10, 2025
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  Hanwha Ocean intensifies bid for Poland's $6 billion submarine project SEOUL, July 10 (AJP) - Hanwha Ocean is intensifying its campaign to win a multibillion-dollar submarine contract from the Polish government, offering a localized production model, technology transfer, and strategic financing in a bid to secure the next-generation Orka submarine program. The project, valued at an estimated 8 trillion won, or roughly $6 billion, is a key component of Poland’s broader military modernization push, as the country seeks to bolster its naval capabi July 10, 2025
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  Tata Group of India bets on AI, EVs, renewables to power its next chapter Editor's Note: This article is the 26th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, July 10 (AJP) - Spanning sectors from steel and software to salt and automobiles, the Tata Group of India stands as Asia’s most enduring industrial empire. With operations in more than 100 countries and a global workforce exceeding one million, the conglom July 10, 2025