Chey Tae-won: SK Hynix's stock will rise as memory demand increases
Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, projected the long-term growth potential of SK Hynix, citing the expanding demand for memory in the age of artificial intelligence (AI). He emphasized the need to target niche markets focused on infrastructure and applications amid the AI power struggle between the U.S. and China.
During a discussion on AI at the summer forum held in Jeju on July 17, Chey stated, "Memory will continue to be needed, so over time, it will trend upward. I don’t know how the stock will perform next month, but holding onto it without buying and selling is a good way to preserve wealth."
He also remarked, "AI is like a 4-year-old child, but as it matures, memory will inevitably be used, leading to an exponential increase in demand."
Regarding AI industry strategy, Chey advised avoiding the power competition between the U.S. and China and instead focusing on niche markets.
He noted, "The future of AI is not just an industry but a matter of national security," diagnosing that the U.S. is pursuing a quality-centered strategy while China focuses on price competitiveness.
During a discussion on AI at the summer forum held in Jeju on July 17, Chey stated, "Memory will continue to be needed, so over time, it will trend upward. I don’t know how the stock will perform next month, but holding onto it without buying and selling is a good way to preserve wealth."
He also remarked, "AI is like a 4-year-old child, but as it matures, memory will inevitably be used, leading to an exponential increase in demand."
Regarding AI industry strategy, Chey advised avoiding the power competition between the U.S. and China and instead focusing on niche markets.
He noted, "The future of AI is not just an industry but a matter of national security," diagnosing that the U.S. is pursuing a quality-centered strategy while China focuses on price competitiveness.
Samsung and SK Hynix see 7 trillion won in single-stock leverage amid regulatory scrutiny
Over the past month, more than 7 trillion won has flowed into 16 single-stock leverage products (including two inverse products) related to Samsung Electronics and SK Hynix. As financial authorities tighten regulations, there is growing interest in whether this investment concentration will ease.
According to the Korea Exchange and ETF CHECK on July 17, from June 16 to July 15, a total of 7.3364 trillion won was net inflow into these single-stock leverage and inverse products.
Among these, the 'KODEX SK Hynix Single Stock Leverage' saw the largest inflow at 3.4472 trillion won. It was followed by 'KODEX Samsung Electronics Single Stock Leverage' with 1.5083 trillion won, 'TIGER SK Hynix Single Stock Leverage' with 1.4271 trillion won, and 'TIGER Samsung Electronics Single Stock Leverage' with 693.8 billion won.
From June 16 to July 16, the stock prices of Samsung Electronics and SK Hynix fell by 24.33% and 19.49%, respectively. The KODEX SK Hynix Single Stock Leverage and KODEX Samsung Electronics Single Stock Leverage experienced significant losses, dropping by 45.60% and 48.44%, respectively.
According to the Korea Exchange and ETF CHECK on July 17, from June 16 to July 15, a total of 7.3364 trillion won was net inflow into these single-stock leverage and inverse products.
Among these, the 'KODEX SK Hynix Single Stock Leverage' saw the largest inflow at 3.4472 trillion won. It was followed by 'KODEX Samsung Electronics Single Stock Leverage' with 1.5083 trillion won, 'TIGER SK Hynix Single Stock Leverage' with 1.4271 trillion won, and 'TIGER Samsung Electronics Single Stock Leverage' with 693.8 billion won.
From June 16 to July 16, the stock prices of Samsung Electronics and SK Hynix fell by 24.33% and 19.49%, respectively. The KODEX SK Hynix Single Stock Leverage and KODEX Samsung Electronics Single Stock Leverage experienced significant losses, dropping by 45.60% and 48.44%, respectively.
Foreign Ministry Cancels Appointment of Former Prosecutor General's Daughter, Officials Face Disciplinary Action
The Foreign Ministry has canceled the final appointment of Shim Mo, the daughter of former Prosecutor General Shim Woo-jung, as a public research assistant.
On July 17, the ministry stated, "After a proper review process, including a hiring review committee, we have canceled Shim's final appointment as she did not meet the eligibility requirements specified in the announcement."
The ministry attempted to contact Shim by phone on May 29 but was unable to reach her, so they completed the cancellation notice via email.
The controversy began as opposition parties raised concerns about the hiring process, noting that Shim, who was a master's degree 'candidate,' was appointed to a position that required a master's degree 'holder.'
As the allegations spread, the Foreign Ministry had temporarily suspended the appointment decision for an internal audit and ultimately concluded to invalidate the hiring after a thorough investigation.
On July 17, the ministry stated, "After a proper review process, including a hiring review committee, we have canceled Shim's final appointment as she did not meet the eligibility requirements specified in the announcement."
The ministry attempted to contact Shim by phone on May 29 but was unable to reach her, so they completed the cancellation notice via email.
The controversy began as opposition parties raised concerns about the hiring process, noting that Shim, who was a master's degree 'candidate,' was appointed to a position that required a master's degree 'holder.'
As the allegations spread, the Foreign Ministry had temporarily suspended the appointment decision for an internal audit and ultimately concluded to invalidate the hiring after a thorough investigation.
61% Support Retaining Prosecutorial Supplementary Investigation Rights, 23% Oppose
A recent survey revealed that public opinion opposing the abolition of the prosecutorial supplementary investigation rights, which the Democratic Party is pushing for, is ahead of those in favor.
According to a survey conducted by Gallup Korea from July 14 to 16 among 1,003 adults aged 18 and older, 61% responded that the rights should be maintained to prevent police oversight and inadequate investigations.
In contrast, 23% said they should be completely abolished based on the principle of separating prosecution and investigation. Sixteen percent withheld their opinions.
Among supporters of the Democratic Party, 46% favored retention while 39% supported abolition. Among the progressive group, opinions were nearly split with 46% in favor of retention and 42% for abolition. In the People Power Party's support base, 81% favored retention while only 8% supported abolition. Among moderates, 64% supported retention and 23% favored abolition.
In a previous survey conducted by Gallup Korea in September last year regarding a proposal to abolish the prosecution and establish a public prosecution office and a serious crime investigation agency, 51% supported the proposal while 31% opposed it.
According to a survey conducted by Gallup Korea from July 14 to 16 among 1,003 adults aged 18 and older, 61% responded that the rights should be maintained to prevent police oversight and inadequate investigations.
In contrast, 23% said they should be completely abolished based on the principle of separating prosecution and investigation. Sixteen percent withheld their opinions.
Among supporters of the Democratic Party, 46% favored retention while 39% supported abolition. Among the progressive group, opinions were nearly split with 46% in favor of retention and 42% for abolition. In the People Power Party's support base, 81% favored retention while only 8% supported abolition. Among moderates, 64% supported retention and 23% favored abolition.
In a previous survey conducted by Gallup Korea in September last year regarding a proposal to abolish the prosecution and establish a public prosecution office and a serious crime investigation agency, 51% supported the proposal while 31% opposed it.
Kim Jong-un Meets Chinese Delegation, Emphasizes Expanding Cooperation on Socialist Foundations
North Korean leader Kim Jong-un reaffirmed the strategic alliance between North Korea and China during a meeting with Wang Huning, chairman of the Chinese People's Political Consultative Conference, who visited North Korea.
On July 17, the Korean Central News Agency and Xinhua reported that Kim met with the Chinese delegation led by Wang on July 16 in Pyongyang.
During the meeting, Kim expressed gratitude for the greetings sent by Chinese President Xi Jinping and evaluated the dispatch of the high-level delegation as a firm commitment by China to implement agreements between the two leaders.
He particularly emphasized the 65th anniversary of the North Korea-China Friendship Treaty, calling it a "treaty between nations that protects the fundamental interests of both countries and ensures regional peace," and stated that it is the government's consistent policy to develop the traditional friendship in line with the demands of the times based on socialism.
He also reiterated North Korea's support for China's socialist endeavors.
On July 17, the Korean Central News Agency and Xinhua reported that Kim met with the Chinese delegation led by Wang on July 16 in Pyongyang.
During the meeting, Kim expressed gratitude for the greetings sent by Chinese President Xi Jinping and evaluated the dispatch of the high-level delegation as a firm commitment by China to implement agreements between the two leaders.
He particularly emphasized the 65th anniversary of the North Korea-China Friendship Treaty, calling it a "treaty between nations that protects the fundamental interests of both countries and ensures regional peace," and stated that it is the government's consistent policy to develop the traditional friendship in line with the demands of the times based on socialism.
He also reiterated North Korea's support for China's socialist endeavors.
Andy Burnham Confirmed as New UK Prime Minister After Rapid Return to Parliament
Andy Burnham, a member of the ruling Labour Party, has been confirmed as the new Prime Minister of the United Kingdom.
On July 17, the Labour Party held a special conference and officially elected Burnham as the new leader after he was the sole candidate in the party leadership election that closed the previous day.
Burnham is set to meet with King Charles III on July 20 to receive the authority to form a government, officially taking office as the 59th Prime Minister of the UK. This marks an unprecedentedly rapid transition to power, occurring just one month after his return to Parliament through a by-election.
On July 17, the Labour Party held a special conference and officially elected Burnham as the new leader after he was the sole candidate in the party leadership election that closed the previous day.
Burnham is set to meet with King Charles III on July 20 to receive the authority to form a government, officially taking office as the 59th Prime Minister of the UK. This marks an unprecedentedly rapid transition to power, occurring just one month after his return to Parliament through a by-election.
At 56 years old, Burnham is known for his charismatic image and extensive local government experience. Coming from a working-class family in Liverpool, he joined the Labour Party at 15 and has served as a member of Parliament for 17 years, holding positions such as Minister of Culture and Minister of Health in the cabinets of Tony Blair and Gordon Brown.
Since 2017, he has been serving his third term as the Mayor of Greater Manchester, receiving overwhelming support and earning the nickname 'King of the North.' His ability to remain above the intense factional battles in central politics allowed him to be chosen as a 'savior' without resistance from various factions within the party.
Xi Jinping: AI Should Be a Symphony, Not a Solo by a Specific Country
Chinese President Xi Jinping expressed ambitions to establish a new global AI order centered on China, countering the U.S. dominance in the field.
According to reports from Reuters and AFP, Xi made his remarks during the opening ceremony of the 2026 World Artificial Intelligence Conference (WAIC) held in Shanghai on July 17, stating, "The development of AI should not be a solo performance by a specific country but a symphony created by the international community together." This statement is seen as a direct challenge to the U.S.-led AI supply chain alliance known as 'Pax Silica.'
Xi emphasized that AI development should be human-centered, ensuring safety and controllability, while also opposing the misuse of national security concepts to control technology.
He particularly highlighted the importance of solidarity with the 'Global South,' which includes emerging and developing countries. He stated, "We must prevent new historical inequalities from arising in the field of AI," promising to foster AI cooperation centers with BRICS, ASEAN, Latin American, and African countries and to provide 5,000 educational opportunities for developing countries over the next five years.
According to reports from Reuters and AFP, Xi made his remarks during the opening ceremony of the 2026 World Artificial Intelligence Conference (WAIC) held in Shanghai on July 17, stating, "The development of AI should not be a solo performance by a specific country but a symphony created by the international community together." This statement is seen as a direct challenge to the U.S.-led AI supply chain alliance known as 'Pax Silica.'
Xi emphasized that AI development should be human-centered, ensuring safety and controllability, while also opposing the misuse of national security concepts to control technology.
He particularly highlighted the importance of solidarity with the 'Global South,' which includes emerging and developing countries. He stated, "We must prevent new historical inequalities from arising in the field of AI," promising to foster AI cooperation centers with BRICS, ASEAN, Latin American, and African countries and to provide 5,000 educational opportunities for developing countries over the next five years.
* This article has been translated by AI.
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