SpaceX slide painfully watched by Korean retailers holding nearly $2 billion SEOUL, June 23 (AJP) — SpaceX has become an instant favorite among South Korean retail investors, who have poured nearly $2 billion into the stock since its June 12 Nasdaq debut, only to see the trade quickly turn painful as the initial heat surrounding Elon Musk's rocket rapidly cools. According to data from the Korea Securities Depository on Tuesday, Korean investors purchased a net $1.95 billion worth of SpaceX Class A shares between June 12 and June 19. The buying sp June 23, 2026

Luxembourg looks to deepen partnership at National Day celebrations in Seoul SEOUL, June 23 (AJP) - Luxembourg marked its annual National Day at a reception in central Seoul on Monday, highlighting the country's deepening partnership with South Korea across various sectors including finance, advanced technology, and green growth. In his opening remarks at the reception which was held at The Hotel Shilla, a day ahead of the country's public holiday on June 23, Luxembourg Ambassador to Seoul Jacques Flies said the occasion provided an opportunity to re June 23, 2026

Samsung, SK hynix to unveil new facility investment in southern Korea SEOUL, June 23 (AJP) - South Korea's memory giants Samsung Electronics and SK hynix, both based in the capital region, are moving south to build new fabs as their semiconductor campuses in Gyeonggi Province have little room left for expansion to meet explosive demand in the AI era. The southward pivot by the Korean chipmakers coincides with the government's push to ease concentration around Seoul and cultivate the southern coast, rich in renewable energy resources, into a June 23, 2026

Most self-employed oppose sharp minimum wage hike amid business slump SEOUL, June 23 (AJP) - More than half of the self-employed felt their business environment worsened from a year earlier and favored a freeze in next year's minimum wage, a survey released on Tuesday shows. According to a recent survey of about 500 mom-and-pop businesses nationwide by the Korea Enterprises Federation, around 57 percent of respondents said their business environment worsened over the past year, while 8.4 percent said they saw some improvement and 34.6 percent sa June 23, 2026

Netflix takes up nearly 60% of Korean mobile view time SEOUL, June 23 (AJP) - Netflix accounted for 57.7 percent of the time South Korean smartphone users spent on major streaming apps in May, far exceeding its 37.8 percent share of users, according to data released Tuesday by app and payment data provider Wiseapp Retail. The gap suggests Netflix users spent considerably more time on the platform than users of rival services. The combined monthly active user count for major over-the-top video streaming apps reached 22.09 mi June 23, 2026

Korea to finance upgrading of local sports venues for K-pop concerts SEOUL, June 23 (AJP) - South Korea will spend 12 billion won ($7.8 million) this year to upgrade six regional sports and multipurpose facilities for K-pop and other live music concerts, the Ministry of Culture, Sports and Tourism said Tuesday. The program is aimed at addressing the country's shortage of dedicated concert venues by upgrading existing public facilities rather than waiting for new arenas to be built. Many large music events in South Korea are held at stadiums June 23, 2026

BTS' 'ARIRANG' lands on 4 midyear best-album lists ahead of European tour SEOUL, June 23 (AJP) - BTS' fifth studio album, "ARIRANG," has been named one of the best albums of 2026 so far by four major music and culture publications in the United States and Britain, the group's agency BigHit Music said Tuesday. U.S. pop culture outlet Complex included the album on its midyear list on June 11, followed by British daily The Telegraph on June 13, Rolling Stone on June 15 and British music magazine NME on June 16. Released on March 20, &q June 23, 2026

Kookmin University signs sports safety agreement SEOUL, June 23 (AJP) - Protecting athletes and crowds from physical harm during major international sporting events is a growing global priority. To meet this critical need, the Asia Olympic Academy at Kookmin University and the Sports Safety Foundation have agreed to jointly research venue risk management and train professional safety staff, the university said Monday. Conventional sports management programs have historically focused on event marketing, ticket sales, and athletic June 23, 2026

Korea touts edge in Canada submarine bid despite NATO concerns SEOUL, June 23 (AJP) - South Korean Industry Minister Kim Jung-kwan said Tuesday that Seoul remained hopeful about its bid for Canada’s next-generation submarine program. “We are hopeful as we await the result,” Kim told reporters after returning from visits to Kazakhstan, Europe and the Middle East. South Korea’s Hanwha Ocean is competing with Germany’s ThyssenKrupp Marine Systems, or TKMS, for Canada’s plan to acquire up to 12 conventionally June 23, 2026

LG Chem to invest $9.7 billion in R&D for AI-driven materials shift SEOUL, June 23 (AJP) - LG Chem will pour 15 trillion won ($9.75 billion) into research and development through 2035 as South Korea's largest chemical maker pivots toward high-value, AI-driven materials. Chief executive Kim Dong-chun told a town hall meeting on Monday that the company would cultivate semiconductor, mobility and robotics materials, along with cancer drugs, as its core future businesses, sharpening a portfolio long anchored in commodity chemicals. The strategy c June 23, 2026