Markets & Chips: South Korea’s KOSPI plunged nearly 10% Tuesday as foreign investors sold off chip heavyweights SK hynix and Samsung, triggering a circuit breaker after a sharp drop; the sell-off followed Wall Street’s tech weakness and renewed worries about the pace of AI spending. Trade Policy: Seoul reached a “big agreement” with the EU on steel tariff-rate quotas, with the EU cutting duty-free quota volumes but Seoul warning the quota rules could violate its free trade deal and signaling possible countermeasures. AI & Semiconductors: Samsung said its HBM4 chips topped $1B in sales just four months after mass production began, highlighting fast scaling for AI hardware demand. Energy & Shipping: Iran-US talks in Switzerland created a “good foundation” for a final deal, with commitments aimed at keeping the Strait of Hormuz open—an issue that directly affects regional oil logistics. Corporate Strategy: President Lee Jae Myung is set to meet major conglomerate heads next week to unveil a regional investment push centered on AI and semiconductors, with incentives likely to include tax and regulatory support. Logistics & Exports: SSANCAR plans direct Korean used-car exports to Europe via a new Hamburg hub with KOTRA support, targeting faster distribution across the EU market. North Korea: Kim Jong Un reiterated plans to accelerate nuclear force expansion, framing it as the only response to a worsening security environment.