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By K Raveendran The Narendra Modi government’s position on fuel prices now looks less like prudent caution and more like an overly defensive reading of a market that has already absorbed much of the Iran-US risk. The more calibrated question, therefore, is not whether New Delhi is right to watch the West Asian security situation, […]

The article Modi Govt’s Overcautious Oil Market Reading Hurting Retail Fuel Customers appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The commitments, unveiled at a government-backed industrial development event in Asan, place Chungcheong at the centre of a broader strategy to spread high-technology manufacturing beyond the Seoul metropolitan area and existing semiconductor clusters. President Lee Jae Myung praised the companies’ “bold decision” and called for faster execution of major industrial projects, warning that global competition in semiconductors and artificial intelligence will reward countries that move with speed on permits, power, water and land.

Samsung plans to invest 140 trillion won, or about $90 billion, across the central region. The programme covers display panels, high-bandwidth memory-related capacity, semiconductor packaging substrates, batteries and other core materials. The group’s plan is expected to reinforce manufacturing links between Samsung Electronics, Samsung Display, Samsung SDI and Samsung Electro-Mechanics, whose operations span chips, OLED screens, batteries and electronic components.

SK hynix said it would invest 100 trillion won, or about $64 billion to $72 billion depending on exchange-rate calculations, in Cheongju, North Chungcheong Province. The plan includes the M17 NAND flash memory fabrication plant and P&T7, an advanced packaging and test facility. M17 is scheduled to break ground in 2026 and begin operations in the first half of 2029, while P&T7 is targeted for completion by the end of 2027.

The Cheongju expansion is intended to strengthen SK hynix’s NAND business and add back-end capacity at a time when artificial intelligence systems are raising demand for both high-performance memory and storage. While high-bandwidth memory has received the strongest investor attention because of its role in AI accelerators, large-scale data centres also require more NAND-based storage as models, user data and enterprise workloads expand.

The Chungcheong plan follows a wider national push in which Samsung Electronics and SK hynix are expected to invest hundreds of billions of dollars in new chipmaking hubs over the next decade. The government has framed the initiative as a “triple axis” strategy built around semiconductors, physical AI and data centres, with the aim of building industrial strength outside the traditional capital-area manufacturing corridor.

For Samsung, the Chungcheong investment gives the group a regional base for several linked supply chains. OLED production in Asan and surrounding areas can support premium smartphones, tablets, monitors and automotive displays. Battery investment strengthens Samsung SDI’s role in electric mobility and energy storage, while semiconductor materials and packaging substrates address one of the key bottlenecks in AI hardware production.

For SK hynix, Cheongju already has semiconductor infrastructure, making it a faster route for expansion than a greenfield project. The company has been one of the largest beneficiaries of the AI memory boom, helped by demand for high-bandwidth memory used with Nvidia graphics processors. Its latest investment signals that the company is also preparing for broader memory demand, including NAND and advanced packaging.

The scale of the commitments underlines the strategic importance of memory chips to South Korea’s economy. Samsung Electronics and SK hynix are the world’s two largest memory chipmakers, with dominant positions in DRAM and a major presence in NAND. Their investment decisions affect global supply, pricing expectations and the pace at which cloud companies can build AI infrastructure.

The programme also carries risks. Semiconductor investment cycles have often produced periods of oversupply after large capacity expansions. Investors have shown caution over whether the current AI-driven boom can absorb the output planned by the industry, especially if data-centre spending slows or if memory pricing weakens before new factories reach full capacity.

Infrastructure remains another challenge. Advanced chip plants require stable electricity, ultra-pure water, skilled engineers and rapid permitting. Lee’s comments on execution reflect concern that delays could undermine the industrial strategy. Local governments are expected to face pressure to accelerate utility connections, transport links and land-use approvals while managing environmental and community concerns.

Regional development is a central political theme of the initiative. By placing more advanced manufacturing in Chungcheong and other areas outside Seoul’s orbit, the administration is seeking to reduce economic concentration and create high-value jobs in provincial cities. That ambition will depend on whether new factories attract suppliers, research teams and service industries rather than functioning as isolated production sites.

AG Company signed a strategic partnership with Akbar Investment Company of the Republic of Korea to study the establishment of a zone dedicated to Korean industries, with Al Ain identified as the proposed location. The initiative comes as the UAE and Korea deepen economic ties under a bilateral trade framework that entered into force on May 1, 2026, after being signed in Seoul on May 29, 2024.

The announcement coincided with the visit of a high-level Korean delegation to Abu Dhabi, led by Jung Min Kim, a member of the National Assembly of the Republic of Korea and member of its Committee on Trade, Industry, Energy, SMEs and Startups. The delegation included representatives from government and semi-government entities, investors and industrial companies.

The agreement was accompanied by the signing of 15 memoranda of understanding with Korean companies and manufacturers across industrial sectors. The proposed zone is expected to focus on advanced manufacturing, technology-led production, artificial intelligence applications, healthcare technologies and related industries, although the final sector mix will depend on feasibility studies, regulatory approvals and investor commitments.

The project aligns with Abu Dhabi’s wider industrial strategy, which seeks to more than double the emirate’s manufacturing sector to AED172 billion by 2031, expand non-oil exports and create thousands of skilled jobs. Abu Dhabi has been positioning industrial growth as a pillar of diversification, combining ports, free zones, logistics networks and investment incentives to attract manufacturers serving the Middle East, Africa and South Asia.

During the visit, the Korean delegation held meetings with the Abu Dhabi Investment Office and Khalifa Economic Zones Abu Dhabi to review the emirate’s investment environment, infrastructure and industrial services. The delegation also met business leaders and investors and carried out field visits to assess operational readiness, logistics capacity and production facilities.

Jung Min Kim said the UAE, and Abu Dhabi in particular, had established itself as one of the world’s most attractive and trusted investment destinations due to its economic vision, legislative environment and infrastructure. He said those advantages, along with stability and the capacity to attract quality investment, made the country an appropriate partner for expanding the presence of Korean industries across the region.

Dr Ahmed Abdullah, chief executive of AG Company, said the project reflected the UAE’s direction towards a more diversified and competitive economy based on knowledge, innovation and autonomous artificial intelligence capable of self-operation and execution. He said attracting Korean industries represented not only an economic investment but also an opportunity to transfer expertise, develop national competencies and strengthen the UAE’s position as a hub for industry and innovation.

The UAE–Korea trade agreement is expected to eliminate or reduce duties on more than 90 per cent of tariff lines over a period of up to 10 years. It also covers trade in goods and services, investment, customs procedures, digital trade, intellectual property, government procurement and cooperation in sectors including energy, healthcare and advanced industries.

The industrial zone proposal gives private-sector form to those commitments. Korean companies have strong global positions in electronics, automotive components, batteries, robotics, shipbuilding, healthcare equipment and advanced materials. Abu Dhabi offers access to capital, energy, transport infrastructure and regional markets, while Korean manufacturers bring production systems, export networks and technology capabilities.

The location of Al Ain carries added significance. The city has been seeking a larger role in Abu Dhabi’s economic diversification beyond its established strengths in agriculture, education, culture and tourism. A manufacturing cluster there could broaden industrial activity outside the coastal logistics corridor, although investors will assess connectivity, labour requirements, utilities, supply chains and access to ports before committing to factory sites.

Safwan Bals, board adviser at AG Company, said nominating Al Ain reflected a vision of expanding economic development and diversifying production hubs. He said the project could support the city’s economic and social development by attracting investments and creating direct and indirect employment opportunities.

By Nantoo Banerjee Despite never qualifying for the FIFA (Federations of International Football Associations) World Cup, India has emerged as one of the largest global markets for the current tournament being co-hosted by the United States, Canada, and Mexico, with matches played across 16 official host cities. In the opening weekend alone, the tournament reached […]

The article FIFA World Cup Reaches Over 100 Million Viewers In India appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Over Ten Thousand International Delegates Gather in Hong Kong Confirming City’s Status as World’s Meeting Place

HONG KONG SAR – Media OutReach Newswire – 4 July 2026 – The Hong Kong Tourism Board is proud to support the 108th Lions International Convention 2026 in Hong Kong. Having previously hosted the convention in 1992 and 2005, Hong Kong has once again been chosen by Lions Clubs International as the venue for its flagship event, attracting around 17,000 delegates from across the globe. Hong Kong has thus become one of the very few cities among more than 200 Lions member countries and regions worldwide to have secured hosting rights three times. This underscores Hong Kong’s status and appeal as the Events Capital of Asia and the World’s Meeting Place.

Hosting Same High-Profile Event for the Third Time Cements Hong Kong’s Title as Asia’s World City

HKTB Chairman Dr Peter Lam said, “HKTB is delighted to partner with the Lions Clubs International District 303 Hong Kong and Macao, China, to bring this Convention to Hong Kong for the third time. Its return affirms Hong Kong’s position as the World’s Meeting Place and a top-of-mind destination for MICE tourism. It also showcases Hong Kong’s integrated strengths in world-class MICE infrastructure, global aviation connectivity, diverse and distinctive tourism offerings, and quality hospitality services. These are the key factors in attracting international MICE events and encouraging business travellers to return time and again. We extend our warmest welcome to Lions from around the world and, together with our industry partners, have curated exclusive itineraries and experiences to encourage delegates to stay longer and discover the unique appeal that can be found only in Hong Kong.”

Lions Clubs International is one of the world’s largest service organisations, with more than 1.4 million members and around 50,000 district clubs across over 200 countries and regions. Since 1917, the organisation has supported communities worldwide through a wide range of social service and community aid initiatives.

Lions International Convention 2026 Honorary Chairman and Past International President Dr Tam Wing-kun said, “Hong Kong is an international metropolis where Eastern and Western cultures converge. With its well-developed professional services and comprehensive MICE infrastructure, Hong Kong is an ideal host for this international mega event. I am delighted that the Convention has returned to Hong Kong. This year’s edition will provide Lions from all corners of the world with a broad and diverse platform to explore the future development of international services. Delegates will also be able to experience first-hand Hong Kong’s world-class cuisine and rich cultural appeal. I am confident they will be the best ambassadors possible when they return home, telling the good stories of Hong Kong to the world.”

Lions Attempt Tai Chai World Record in Hong Kong
The 108th Lions International Convention is being held for five consecutive days from 3 to 7 July at AsiaWorld-Expo. To celebrate its return to Hong Kong and promote traditional Chinese culture, the organiser will attempt to set a world record with thousands of international Lions practising Tai Chi simultaneously. The activity aims to promote exercise for all and deepen participants’ understanding of the Sustainable Development Goals, creating a meaningful finale to the convention.

HKTB Teams Up with the Trade to Offer Unforgettable Cultural Tourism Experiences

Hashtag: #MEHK #MeetingsandExhibitionsHongKong #HongKong #MICE #Lions #LionsInternationalConvention2026

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By Satyaki Chakraborty The U.S.-China high tech battle for supremacy has reached a new peak after the China manufactured Supercomputer LineShine was adjudged the best among the Top 500 supercomputers made by various nations including the USA, at the International Supercomputing Conference in Hamburg, Germany held on June 23.China got this top slot recognition after […]

The article China-US Tech War Reaches Its Peak As Chinese Supercomputer Gets Top Slot In 2026 appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).