SK chief’s Kioxia overture raises stakes in NAND race

acquired Toshiba’s memory business. In August, the SPC became Kioxia’s largest shareholder with a 14.19 percent stake. SK hynix holds securities convertible into shares carrying most of the SPC’s voting

Seoul shares end higher on tech gains amid eased Mideast tensions

went south on eased Middle East tensions. Leading oil refinery SK Innovation tumbled 10.3 percent to 116,700 won, and defense giant Hanwha Aerospce sank 8.17 percent to 899,000 won. The Korean won was

S. Korea, US open shipbuilding partnership center to advance MASGA initiative

South Korea and the United States on Thursday launched a shipbuilding cooperation center in Washington to facilitate the planned $150 billion investment in the US shipbuilding sector that Seoul committed to under last year's bilateral trade and investment deal. Senior officials and industry leaders from the two countries joined an event marking the opening of the Korea-US Shipbuilding Partnership Center, a platform to advance the "Make American Shipbuilding Great Again" initiative aimed at revitalizing America's shipbuilding industry. The opening came two months after the two countries signed a memorandum of understanding in May to establish the center and strengthen bilateral shipbuilding cooperation. In his welcoming remarks, Industry Minister Kim Jung-kwan called the center a symbol of South Korea's "strong" commitment to supporting America's shipbuilding industry. "Korea strongly supports President Trump's maritime action plan. We are ready to work side by side with the US Today is the beginning of a new chapter -- a new chapter for our shipbuilding industry, a new chapter for our maritime partnership and a new chapter for our alliance," he said. At the center of the new chapter is the MASGA initiative, the minister said, describing it as a "bold" vision that he said will strengthen American shipbuilding and its maritime power, and support regional economies across the United States. "Korea is ready to be America's strongest partner in making this vision real," he said. "Together with (Commerce) Secretary (Howard) Lutnick and our US colleagues, we will deliver results. We will build naval vessels. We will build LNG carriers and we will build them here in America." LNG stands for liquefied natural gas. Kim highlighted Seoul's commitment to fulfilling its investment commitment for the MASGA initiative, noting that the center will promote joint research and development, support technology sharing and nurture thousands of skilled workers. "Korean companies are already developing a wide range of projects to acquire, expand and modernize shipyards across the US," he said. "The financial institutions .... will work together as one team to support this MASGA investment." In his congratulatory remarks, Lutnick stressed the importance of producing tangible results from shipbuilding cooperation with South Korea. "The center is not an outcome. It is the most important work that produces the outcome of how many ships that are built," he said. "Talking is not a thing. It sets the stage, but the reality is (that) it is vital for America to produce ships in America. Not talk about producing ships in America, not having meetings about ships in America, but actually building ships in America." The secretary also affirmed Washington's commitment to help tackle regulatory obstacles that Korean companies may encounter while investing activities in the US "We are committed to removing barriers to production," he said. "If, when you are building and bumping into roadblocks, or you are feeling that the environment is not completely embracing of you, call the Department of Commerce. We will clear the regulatory roadblocks for you to build in America." Among the prominent attendees was new US Ambassador to South Korea Michelle Steel. She hailed Korea's shipbuilding cooperation with the US as an expansion of the bilateral alliance into a "new" and "important" territory. "What we have discussed today is proof that our alliance is expanding into a new, incredibly important territory: the vitalization of the American industry, including in shipbuilding," she said in her first major public remarks since her Senate confirmation last month. She also highlighted that the launch of the KUSPC exemplifies what the two countries' partnership can achieve when they align their industrial strategies toward common goals. "This undertaking is part of a much larger vision -- one in which Korea's investment in American manufacturing, shipbuilding and strategic sectors works (for) a fair, reciprocal and resilient trade relationship between our two nations," she said. At the event, South Korea's Ambassador to the US Kang Kyung-wha said that the launch of the KUSPC is a "major milestone," calling the launch a "starting point for creating a safe, resilient and trusted joint maritime industrial ecosystem." "To this day and into the future, ship production, maintenance, and repair remain critically important for national security, global trade, and economic stability," she said. "And that is why the opening of the KUSPC is such a uniquely important milestone and opening up a new chapter in our two countries' long history of cooperation." The Defense Acquisition Program Administration, South Korea's state arms procurement agency, said it will explore opportunities for cooperation in the naval shipbuilding sector and help Korean companies join US shipbuilding and defense supply chains. In the presence of Kim and Lutnick, the two allies signed 15 MOUs in four areas: establishing "Team Korea" to promote the shared growth of the South Korea-US shipbuilding industries; strengthening supply chain cooperation; workforce training; and joint technology development. Team Korea comprises the KUSPC; three Korean shipbuilders -- HD Hyundai Heavy Industries Co., Hanwha Ocean Co. and Samsung Heavy Industries Co.; the Korea Offshore and the Korea Research Institute of Ships & Ocean Engineering. (Yonhap)

'Mongtan': Mongolian capital wrapped in Korean food, retail brands

From convenience stores to beer and coffee, Korean brands feed young capital's love of K-culture The capital of Mongolia, Ulaanbaatar, has earned the Korean nickname "Mongtan," a mashup of Mongolia and Dongtan, the large planned city south of Seoul. Home to roughly half the country's 3.5 million people, the capital has grown dense enough with Korean storefronts to pass for a Korean suburb, with Korean convenience chains facing off on street corners and bakeries and burger shops lining the sidewalks. President Lee Jae Myung even invoked the nickname at a recent Korea-Mongolia business forum, referring to Mongolia's retail boom as the leading edge of a broader wave of Korean consumer goods. Retail reach runs wide The Ministry of Agriculture, Food and Rural Affairs points to Mongolia's growing interest in Korean food as a sign of real potential for expanded exports. Agriculture Minister Song Mi-ryung made that case in person during her visit to Mongolia last week, touring a convenience store sector that commands over 90 percent of the market. "Mongolia is a market with real growth potential where Korean convenience stores have already taken root successfully," Song noted, adding that K-food can meet Mongolian consumers' appetite for convenience and healthy flavor. Citing K-food exports to Mongolia that have more than doubled over the past five years, the Agriculture Minister pledged the ministry would spare no support for expanding K-food exports. No brand looms larger than CU, which opened its 600th Mongolian store just last week. The chain became the first Korean retailer to hit that mark in any single overseas market, only eight years after its 2018 entry. GS25 has kept pace with roughly 300 stores of its own, while E-mart opened its largest overseas No Brand store in Ulaanbaatar last week. An official from CU said the chain's sprawling network represents more than retail ambition. "Mongolia's shortage of social infrastructure, particularly rest stops, has let CU fill that gap even as tourist demand in the country keeps rising," the official explained. The chain's growth also tracks Ulaanbaatar's economic expansion, the official noted, adding that the 600th store is situated along a road leading into a smaller city. Young appetite for K-food brands Industry officials chalk the demand up to demographics in Ulaanbaatar, where a median age of around 25.6 years old translates to a population quick to embrace Korean culture. "Mongolia used to be seen as just a place to export to. Now companies are clearly working to lay down long-term foundations," an industry official noted, citing the market's receptiveness to Korean food culture and its value as a testing ground for localization. Beer offers the clearest illustration of that trend. Mongolia has become Korea's largest overseas market for beer, with exports reaching 31,033 metric tons in 2025, according to Korea Customs Service trade data. The brand leading that charge is Oriental Brewery's Cass, which entered the market in 1999, when Mongolia lacked much domestic brewing capacity, and has since outgrown local competitors to become a fixture of Mongolian taste. The latest entrant, Lotte Chilsung Beverage's Crush, entered the import beer market in 2024. HiteJinro, meanwhile, reported Mongolian beer exports up about 54 percent on-year in 2025 behind two flagship products, Terra and Kelly. "We are segmenting consumers and running tailored marketing for each brand," a HiteJinro official explained, adding that Terra and its soju label Jinro have already reached most small shops across Ulaanbaatar. Other food chains have caught the same wave. CJ Foodville's Tous Les Jours became the first Korean brand to enter Ulaangom, six months after launching in Darkhan, while SPC's Paris Baguette runs a single Ulaanbaatar location with a second planned by year's end. Lotteria operates five stores known for beef and chicken burgers, while Mom's Touch, which entered in 2023, ran 18 locations as of last year. Mega MGC Coffee, Korea's largest budget-coffee franchise, opened its first Ulaanbaatar store in 2024 and now runs seven, with an eighth and ninth on the way. "The response here has exceeded expectations, and we are accelerating our store rollout well beyond the original plan," a company official noted.

S. Korea to establish low-Earth orbit communications network by 2035

special purpose company (SPC) along with private firms for the sale of information amassed through satellites. The SPC, to be more than 70 percent owned by private firms, is expected to generate over $1.7

STARTRADER Lists SpaceX (SPCX) CFD Days After Historic Nasdaq Debut

Rapid addition of the largest IPO in market history underscores the broker's commitment to meeting trader demand in real time DUBAI, UAE, June 24, 2026 /PRNewswire/ -- STARTRADER has added SPCX CFD

Tradr Brings Double Long and Short Leverage to SpaceX

Tradr ETFs launched SPCM and SPCG, providing traders with 200% leveraged long and short exposure to SpaceX, one of the most anticipated IPOs in market history. SPCM and SPCG give traders 200% bullish

[ANN] On Everest, drones are saving lives, not ‘stealing' jobs

KATHMANDU, Nepal (Kathmandu Post/ANN) -- For 22-year-old guide Lakpa Ringi Sherpa, this spring climbing season on Everest felt different. The fear was still there. The Khumbu Icefall remained as unpredictable as ever, with yawning crevasses beneath his feet and towering seracs looming overhead. But unlike previous years, he did not have to make the dangerous journey through the icefall carrying heavy loads over and over again. Instead of the usual eight to ten supply trips between Everest Base Camp (5,364 meters) and Camp II (6,400 meters), Lakpa Ringi made only four. The reason was not a safer route or calmer weather. It was a drone. "Every year, we are frightened to cross the icefall," he said. "Crevasses below, seracs above. We have to walk between unstable ice formations." Traditionally, Sherpa guides leave base camp shortly after midnight carrying up to 15 kg of logistics supplies on their backs. The journey through the Khumbu Icefall to Camp I and onwards to Camp II can take six to seven hours, often without rest. "We never stop," Lakpa Ringi said. "The icefall section is too dangerous." This year, however, most of the supplies destined for Camp I were flown by drone. The result was dramatic. Tasks that once required hours of climbing and a team of high-altitude guides could now be completed in minutes. "Every time we carried loads through the icefall, we prayed," Lakpa Ringi recalled. "Now the drone does most of that work." His experience reflects a technological shift underway on Mount Everest, where drones are beginning to reshape one of the world's most dangerous occupations. In April 2024, Chinese drone manufacturer DJI conducted what was described as the world's first drone delivery test on Everest. Using its FlyCart platform, the company transported oxygen cylinders and supplies uphill while carrying waste downhill. The trials demonstrated that drones could perform tasks traditionally undertaken by Sherpa guides in one of the most hazardous sections of the mountain. The technology moved beyond testing in 2025, when drones began transporting supplies to Camp I. This spring, drone-assisted logistics entered commercial operation. According to mountain officials and drone operators, work that once required six to seven hours can now be completed in about ten minutes. In some cases, a single drone flight can replace the efforts of more than a dozen guides. For many in the Khumbu region, the significance extends beyond efficiency. "This is a life-saving initiative," said Mingma Chhiri Sherpa, chairman of the Khumbu Pasanglhamu Rural Municipality, within whose jurisdiction the Everest region falls. "There is a huge risk even for a normal hike in the Khumbu Icefall. Imagine how dangerous it is when people are carrying heavy equipment and supplies. Technology can reduce that burden and save lives." The Khumbu Icefall is widely regarded as the most dangerous section of the standard South Col route to Everest. Stretching roughly 600 meters between Base Camp and Camp I, the constantly shifting glacier is riddled with deep crevasses and unstable ice towers that can collapse without warning. For decades, Sherpa guides have shouldered the greatest risks there. The danger was tragically highlighted in April 2014, when a massive ice collapse killed 16 Sherpa guides in the deadliest disaster in Everest's history at the time. In 2023, three Sherpa guides were buried by an avalanche in the icefall. Their bodies were never recovered. According to government records and the Himalayan Database, nearly 50 people died in the Khumbu Icefall between 1953 and 2023. The risks remained evident this year. A massive unstable serac blocked route preparation for nearly three weeks, delaying progress through the icefall. According to data from the Sagarmatha Pollution Control Committee (SPCC), the ice formation measured approximately 55 meters long, 37 meters wide and 28 meters high. The Icefall Doctors, the elite team responsible for preparing the route each spring, began work on March 16 and managed to secure a path only up to a critical point before the giant ice wall halted further progress. For 19 days, drone imaging and aerial monitoring were used to assess the formation. "Multiple site inspections and drone imaging sessions monitored the formation throughout the period," said Milan Pandey, co-founder of Airlift Technology. Part of the serac eventually collapsed, but the remaining mass stayed unstable. The route was finally completed on May 13, officially opening the mountain to summit attempts. The episode highlighted another emerging role for drones: reconnaissance and risk assessment. Their growing presence on Everest is also helping tackle a long-standing environmental challenge. This spring, Airlift Technology transported 3.5 tonnes of garbage from Camp I to Base Camp using drones. "Altogether, we flew more than 10 tonnes of goods up and down," said Pandey. "Of that, 3.5 (metric) tons were garbage brought down from the mountain." Much of the waste consisted of human waste bags. Last year, local authorities made it mandatory for climbers to carry special designed poop bags during their ascent to reduce contamination and improve sanitation on Everest. The initiative complements Nepal's broader efforts to clean the mountain. Since 2014, climbers have been required to return with at least eight kilograms of waste or lose a $4,000 refundable deposit. Proposed legislation would convert that deposit into a non-refundable environmental fee dedicated to conservation and cleanup activities. After the climbing season ended on May 29, drones conducted roughly 20 flights a day carrying garbage back to Base Camp. For local officials, cleaner mountains and safer working conditions are closely connected. "Everest supports hotels, lodges, airlines, helicopter operators, guides, porters and many businesses across the mountain region," said Mingma Chhiri. "But the risks remain very high. We want to reduce those risks through technology." Not everyone, however, views the drone revolution without reservations. Some fear that expanding drone operations could eventually reduce employment opportunities for Sherpa guides and high-altitude workers. Lakpa Ringi believes those fears are misplaced. Guides earn money both by escorting climbers and by carrying supplies between camps. While drones may reduce some of the lower-altitude load-carrying work, the more lucrative jobs higher on the mountain remain dependent on human expertise. Guides typically earn between $2.60-$3.80 per kilo carrying loads from Base Camp toward Camp II. Above Camp II, rates rise sharply to between $7.50–$11.30 per kilogram. Transporting oxygen cylinders is particularly profitable. Carrying a four-kilogram oxygen bottle can earn a guide $30, while bringing down an empty cylinder can fetch $75. A guide normally brings down 8 empty cylinders. "Most climbers need multiple bottles," Lakpa Ringi said. "The real earnings are from Camp II to Camp IV. Even if drones reduce some work below Camp I, it doesn't mean we lose income." Instead, he sees drones as partners rather than competitors. "We don't want to carry loads through the icefall if we don't have to," he said. "Our main job is guiding climbers. The drone makes us more confident crossing the dangerous sections." This year also witnessed an unexpected twist in the evolving drone story. After Chinese-made DJI drones demonstrated their effectiveness on Everest, an American challenger entered the race. US drone manufacturer Freefly Systems sought permission to test its Alta X Gen 2 heavy-lift drone on Everest, potentially challenging DJI's dominance in one of the world's harshest aviation environments. Nepali authorities temporarily suspended operations of DJI's FlyCart 100 for ten days while reviewing permissions for both systems. The move sparked debate within Nepal's mountaineering community. Supporters welcomed greater competition and technological innovation. Others worried that Everest could become a stage for commercial and geopolitical rivalry between foreign technology firms. "We were banned for ten days and there was no reason for it," said Pandey. Despite the interruption, he said drones proved indispensable, particularly after the delayed opening of the climbing route created logistical bottlenecks. "In emergencies, drones allowed bottled oxygen to be delivered quickly to higher camps," he said. The 2026 Everest season ultimately ended with more than 1,000 climbers and guides reaching the summit, according to preliminary estimates. This spring, the government issued a record 495 permits for fee-paying climbers. Normally, a climber hires one sherpa guide for the expedition. For many, the season may be remembered not only for successful ascents but also for a quiet technological transformation taking place beneath the world's highest peak. For generations, Sherpas have carried the weight of Everest on their backs, often at enormous personal risk. Now, as drones buzz above the shifting ice and crevasses of the Khumbu Icefall, some of that burden is finally being lifted. And for guides like Lakpa Ringi Sherpa, that may be the most important summit of all.

STARTRADER Launches SPCXUSD, Offering Exposure to SpaceX Ahead of Expected IPO

The new instrument brings 24/7 trading access to one of the most anticipated listings in market history. DUBAI, UAE, May 29, 2026 /PRNewswire/ -- STARTRADER has added SPCXUSD (Space Exploration

SpaceX IPO filing lays bare losses and Musk control

SpaceX took the wraps off its IPO filing Wednesday, laying bare for investors just how much Elon Musk is losing on artificial intelligence while betting the company's future on transforming ‌the rocket maker into an AI powerhouse. Much of its outlook relies on SpaceX dominating technologies and markets that do not yet exist -- from Mars missions to AI data centers in space. For many, Musk's record turning Tesla into the most valuable auto company in the world and developing the world's first fully reusable rocket and largest satellite network is enough to justify investment. The filing cements Musk's tight control of SpaceX while giving shareholders little say over his decisions. It ‌shows just how central AI has become following the February purchase of xAI, which drove most of the company's spending and a majority of its losses in the first quarter. The listing could become the first US market debut above $1 trillion and would immediately make SpaceX one of the world’s most valuable publicly traded companies. Of SpaceX's three divisions, only the connectivity segment powered by satellite internet unit Starlink was profitable in the first three months of the year. While Starlink generated an operating profit of $1.19 billion, it wasn't enough to prevent the company from ⁠booking a total operating loss of $1.94 billion in the first quarter on $4.69 billion in revenue. Its AI division, alone, accounted for $2.47 billion in losses on $818 million in revenue. Musk's purchase of his social media and AI company xAI gave SpaceX new capabilities and opportunities but a staggering amount of spending, accounting for 76 percent of its $10.1 billion in capital spending in the first quarter, as well as fresh losses. The company's plans rely on technology that's not yet been built for ⁠much of its future revenue stream, including operating data centers powered by solar power in space, to reach a potential market of $28.5 trillion, according to the filing. The filing confirmed a series of recent Reuters reports about the IPO. SpaceX has grown into the world's largest space business since its founding in 2002 by launching thousands of Starlink internet satellites. Its pioneering use of reusable rockets has transformed the economics of space, forcing competitors ​like Jeff Bezos' Blue Origin to play catchup. A successful share sale could value the company at a record-setting $1.75 trillion, which would put its founder on track to become the first trillionaire in ‌history. Musk will also retain 85.1 percent of the combined voting power of the company, the filing showed. The company's regulatory disclosure comes during a critical week for the rocket maker, which is preparing to launch a test flight of its next-generation ‌Starship rocket on Thursday. The board has given Musk ‌control over the company, but has tied much of his compensation to audacious targets of establishing a permanent human colony on Mars and building space data centers with compute capacity ‌powered by the equivalent of 100 terawatts, or 100,000 one-gigawatt nuclear reactors, Reuters previously reported. SpaceX is aiming to list its ​shares as early as June 12, with a roadshow launch targeted for June 4 and the share sale expected as early as June 11, Reuters reported last week. Musk's CEO celebrity persona may matter more to some investors than SpaceX's underlying business fundamentals, analysts ⁠and academics said, because there are no other comparable companies against which to benchmark its valuation. "There is somewhat of a halo effect around Musk and his unconventional vision," said Reena Aggarwal, a finance professor at Georgetown University. "It is difficult to value companies like this because there is no peer group for comparison." The $1.75 trillion valuation target, if achieved, would eclipse Saudi Aramco's 2019 offering, which set a record for the world's biggest IPO when it debuted on Riyadh's exchange at a value of $1.7 trillion. SpaceX had planned to try to ⁠raise more than $75 billion in ​the offering, Reuters previously reported. SpaceX will use a dual-class share structure ⁠that gives Class B shareholders 10 votes each, concentrating control with Musk and a handful of other insiders, while Class A shares sold to public investors will carry one vote each, the prospectus showed. The company has adopted numerous provisions that, taken together, severely limit shareholder rights, ​forcing legal claims through arbitration, restricting where cases can be filed and protecting Musk from being fired by anyone other than Musk. The scale of the offering has drawn attention to the increasingly interconnected structure of Musk's business empire, often dubbed the "Muskonomy," which includes leading electric vehicle company Tesla, as well as his businesses in AI and brain-chip implants. SpaceX merged with Musk's AI startup xAI in a deal that valued the rocket company at $1 trillion and ⁠the developer of the Grok chatbot at $250 billion. Through its AI infrastructure platform, SpaceX inked deals for Anthropic to pay it $1.25 billion a ⁠month to use compute capacity from its ⁠Colossus and Colossus ‌II data center clusters in Memphis, Tennessee through May 2029, the filing shows. The company disclosed that it had been named as a defendant in multiple lawsuits arising from its AI chatbot Grok's image-generation and editing features. The race to commercialize space has intensified as private companies led by SpaceX and Blue Origin compete to slash launch costs, deploy satellite networks and secure government contracts. SpaceX's revenue is driven by Starlink, the world's largest satellite operator. The network of about 10,000 satellites offers broadband internet to consumers, ​governments and enterprise customers. But the company's expanding footprint across aviation, maritime and enterprise markets is helping turn capital-intensive space projects into a recurring revenue engine. SpaceX plans to earmark a significant portion of shares for retail investors and will host about 1,500 of them at an event in June, Reuters reported in April. The company is expected to list on the Nasdaq and Nasdaq Texas under the ticker symbol "SPCX." Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and JPMorgan are the bookrunners. (Reuters)