AI Chips & Markets: Seoul shares surged after a tech-led selloff, with SK hynix and Samsung rebounding on reports that Anthropic is in talks with Samsung to develop a custom AI chip, while global air cargo demand rose 7% in June on semiconductor and AI hardware shipments. Mega Investments: South Korea’s conglomerates unveiled a new wave of Yeongnam spending—Hanwha, Hyundai, Samsung, SK and others—aimed at physical AI, robotics, batteries and space, as President Lee also pledged an “aerospace industry belt” along the southern coast. Semiconductor Supply Debate: A semiconductor industry group warned the US against price or capacity interventions that could worsen the AI-driven memory squeeze, as SK hynix and Samsung continue expanding production. Inflation Watch: South Korea’s June inflation hit a 30-month high, driven by fuel costs and a weaker won, adding pressure on the Bank of Korea. Retail Rescue: The government pledged 440 billion won in emergency support for Homeplus workers and partner merchants after a court ended the retailer’s rehabilitation. Energy & Shipping: TotalEnergies offered Iraqi crude delivered to Asia, while Korea-U.S. shipbuilding cooperation faces uncertainty as US lawmakers push tighter rules on foreign-built naval components. Policy & Trade: Seoul disputed a US congressional report alleging discrimination against Coupang, saying its actions followed domestic law.