Media giant JoongAng Ilbo defaults on 22 bln won SEOUL, June 19 (AJP) - South Korean newspaper JoongAng Ilbo has suffered an initial default on 22 billion won in commercial paper after failing to meet a creditor's early repayment demand due to a lack of funds. The financial failure marks a shocking development in the local media industry, as JoongAng Ilbo stands as one of South Korea's most iconic and influential major media groups. The default publicly exposes the severity of an escalating liquidity crisis threatening t June 19, 2026

Pyongyang calls Russo-NK treaty legal weapon SEOUL, June 19 (AJP) - North Korea on Friday marked the second anniversary of its mutual defense treaty with Russia, hailing the pact as an essential legal weapon to reshape the global order. The declaration solidifies a permanent military alignment that directly threatens the security architecture of South Korea. The formalization of the alliance comes as Pyongyang completely shuns Seoul, having recently redefined South Korea as a permanently hostile enemy state rather than a par June 19, 2026

Energy watchdog warns looming transit fees in Hormuz SEOUL, June 19 (AJP) - A temporary truce between the United States and Iran has reopened the Strait of Hormuz for 60 days, providing a critical lifeline to energy-dependent manufacturing hubs in South Korea and Southeast Asia. The International Energy Agency warned Thursday (local time) that despite the immediate relief, the crisis has permanently altered the global energy map. The unblocking of the maritime chokepoint eases a severe bottleneck for production-based Asian economies June 19, 2026

KOSPI, Nikkei extend record-setting run SEOUL, June 19 (AJP) — Seoul's stock market pushed deeper into uncharted territory on Friday, with the KOSPI testing new highs and total market capitalization reaching a record $5.2 trillion, propelled by the extraordinary ascent of SK hynix, whose market value alone exceeded $1.3 trillion and helped Seoul outshine Tokyo's simultaneous record-setting rally. The KOSPI stood at 9,371.8, up 307.9 points, or 3.4 percent intraday while the Nikkei traded at 71,632.4, up 578 June 19, 2026

Researchers develop unified database to reduce AI errors SEOUL, June 19 (AJP) - Artificial intelligence agents often struggle with generating false information, a major obstacle for corporate adoption. To solve this, researchers have developed next-generation database technology that simultaneously understands documents, data, and their relationships to improve answer accuracy and processing speed. The Korea Advanced Institute of Science and Technology said Friday. Current artificial intelligence retrieval systems typically rely on vect June 19, 2026

Iran opens Hormuz transit applications, paving way for 24 Korean ships SEOUL, June 19 (AJP) - Iran has begun accepting transit applications from vessels stranded inside the Strait of Hormuz under its agreement to end the war with the U.S., paving the way for 24 stranded Korean-related ships to leave the waterway. Iran’s Persian Gulf Strait Authority, or PGSA, began receiving applications through its website, according to industry sources Friday. The move follows a memorandum of understanding between Iran and the U.S. that calls for the strait June 19, 2026

N. Korea denuclearization remains top priority for US: senior US diplomat SEOUL, June 19 (AJP) -The Trump administration places North Korea's denuclearization high on its foreign policy agenda and remains open to dialogue with Pyongyang, while signaling that any transfer of wartime operational control to South Korea will proceed cautiously and under military guidance, a senior U.S. diplomat said Thursday. David Wilezol, deputy assistant secretary of state for Japan, Korea and Mongolia, made the remarks during a Korea-U.S. Strategic Industries and Se June 19, 2026

KOSPI extends historic rally beyond 9,200 as chip giants lead charge SEOUL, June 19 (AJP) -South Korean stocks extended their record-breaking rally Friday, with the benchmark KOSPI surging further above the 9,000-point mark as a global semiconductor boom, aggressive foreign buying and renewed optimism over artificial intelligence demand continued to fuel gains. The benchmark KOSPI opened at 9,292.71, up 2.53 percent from the previous session, extending its record-breaking rally after closing above the 9,000-point mark for the first time a day earli June 19, 2026

LG CNS, Doosan forge sweeping AI and robotics alliance SEOUL, June 19 (AJP) - LG CNS announced it has agreed to a broad business partnership with Doosan spanning artificial intelligence, robotics, data centers and cloud computing, as South Korea's industrial giants race to commercialize so-called physical AI. The two firms signed a memorandum of understanding on Thursday at LG Science Park in Seoul's Magok district, with LG CNS CEO Hyun Shin-kyun and Doosan President Yoo Seung-woo among the executives present. Under the deal, June 19, 2026

Inside KF-21, a test pilot pushes Korea's indigenous fighter to its limits SEOUL, June 19 (AJP) - The moment can come low above the ground, when the aircraft is turning hard and the pilot's vision begins to fade. For Maj. Song Min-seok, a test pilot for South Korea's KF-21 Boramae fighter jet, one of the most demanding parts of the job is not flying fast. It is holding the aircraft at the edge of its limits long enough to finish the test — even as his body tells him to stop. "When you keep turning under G-force, blood moves down towar June 19, 2026