South Korea's high power costs pose AI competitiveness concerns SEOUL, June 17 (AJP) - South Korea's electricity rates for data centers are higher than those in major countries, a recent report shows. While the country's overall power prices remain relatively low, industrial rates for large users including artificial intelligence (AI)-related data centers are higher than in countries such as China and the U.S. According to data released by the U.S. Energy Information Administration (EIA) on Tuesday, the average industrial rate appli June 17, 2026

SK hynix confirms U.S. ADR plan, denies 100 trln won shareholder payout SEOUL, June 17 (AJP) - SK hynix confirmed Wednesday that it is actively pursuing a U.S. American Depositary Receipt (ADR) listing to expand its AI-era memory chip capacity, but denied reports that it is preparing a 100 trillion won ($72.5 billion) shareholder reward program to offset concerns about equity dilution. The clarification came after the Korea Economic Daily reported Tuesday that the South Korean chipmaker was preparing a historic fourth-quarter shareholder return packag June 17, 2026

In "short-form" Korean economy, media empire is latest casualty SEOUL, June 17 (AJP) - South Korea is becoming a "short-form" society, where consumers increasingly favor quick commerce, short visits and low-friction experiences. As those habits harden, a growing list of institutions once considered too big to fail is discovering that their traditional business models no longer justify a physical trip. The latest casualty is JoongAng Group, one of South Korea's largest media empires, whose holdings include the 61-year-old JoongAn June 17, 2026

Foreigners' card spending tops 2 trillion won for 1st time last month SEOUL, June 17 (AJP) - Monthly card spending by foreign tourists in South Korea surpassed 2 trillion won (US$1.33 billion) last month for the first time, according to an analysis released by the Korea Tourism Organization on Wednesday. The KTO said foreign tourists spent 2.12 trillion won in May, up 67.1 percent from 1.27 trillion won a year earlier. Cumulative spending for the first five months of this year reached 7.98 trillion won, up 47.3 percent from the same period last year June 17, 2026

Sookmyung researchers develop AI framework capable of automatically fixing robot code SEOUL, June 17 (AJP) - Enabling robots to adapt to new tasks without relying on heavy human programming is a critical hurdle in advancing industrial automation. To address this, researchers have developed a framework where large language models can directly generate and debug low-level robot control commands, Sookmyung Women's University said Wednesday. The research team, led by Professor Sim Joo-yong from Sookmyung Women's University's Department of Mechanical Systems June 17, 2026

Lee's approval falls below 50%, down 16 points in a month SEOUL, June 17 (AJP) - South Korean President Lee Jae Myung's approval rating fell below 50 percent for the first time since taking office last June, extending a five-week slide that has erased more than 16 percentage points of support in just over a month, a new poll showed Wednesday. According to a survey conducted by polling firm Cho Won C&I on behalf of Straight News from June 13 to 15 among 2,001 adults nationwide aged 18 and older, Lee's approval rating st June 17, 2026

Hanwha becomes KAI's second-largest shareholder after raising stake SEOUL, June 17 (AJP) - Hanwha Group has raised its combined stake in Korea Aerospace Industries Co. to 9.04 percent, becoming the aircraft maker’s second-largest shareholder after the government, the group said Tuesday. Hanwha Aerospace said in a regulatory filing that it has secured a 6.5 percent stake in aircraft manufacturing monopoly, completing earlier than planned its goal of investing 500 billion won ($330 million) to buy additional shares in the company by the end of t June 17, 2026

South Korea redraws decades-old borderlines with North Korea SEOUL, June 17 (AJP) -South Korea is redrawing lines along the world's most heavily fortified border with North Korea, easing decades-old military restrictions to reflect changing security conditions, a shrinking military-age population and advances in modern warfare. The Defense Ministry said Wednesday it will move the civilian control line about 2 kilometers northward, opening up swaths of tightly regulated border areas and reducing long-standing restrictions on residents. June 17, 2026

Grammys add Asian pop category for 2027 ceremony SEOUL, June 17 (AJP) - The Grammy Awards will add five new categories for its 2027 ceremony, including one dedicated to Asian pop music. The new Best Asian Pop Music Performance category will recognize Asian pop performances originating from or widely recognized within Asian markets, including K-pop, J-pop and C-pop, with meaningful use of one or more Asian languages. The addition comes as K-pop and other Asian pop genres have gained a larger presence in the global music market June 17, 2026

Musk mania survives IPO miss as Koreans pour $800 million on SpaceX debut SEOUL, June 17 (AJP) - An Elon Musk-linked stock has once again become a favorite among South Korean retail investors. Despite missing out on SpaceX’s initial public offering, Korean individual investors poured more than $800 million into the company on its Nasdaq debut, making the space company one of the most aggressively bought foreign stocks in Korean market history. According to data compiled from 11 brokerages, including Mirae Asset Securities, Korea Investment & June 17, 2026